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An international money transfer is what happens when you send money to someone overseas. You provide funds and your recipient's details to a bank or an independent transfer provider, which then exchanges the money into your desired currency and sends it to your recipient. You can send money over the phone, in person, through a mobile app or online.
There are two main ways to send money out of Australia: a specialist money transfer service or your bank. Both banks and transfer services offer online transfers, with some offering in-branch transfers or the ability to send money over your phone via an app or calling an agent.
We'll go through the steps each method takes if you were sending online.
The following steps give a good example of a typical transfer using a money transfer company.
If you choose to use a bank to carry out your transfer, the process is a little different.
While there's no best way to transfer funds overseas, there are a few things you can do to make it cheaper.
Keep an eye out for the following when you send money overseas:
MasterRemit allows you to transfer your money quickly in a range of currencies.
Learn about how TransferMate’s personal product works and what it can do for you.
Make simple and small transfers to the Philippines through the IREMITX app.
Using international money orders to send money overseas? Learn about better options.
Our picks for the best ways to send money internationally.
Learn how to create a custom link for your PayPal account and what you can use it for.
If you’re looking to save some cash the next time you send money overseas, check out our up-to-date SingX promo codes.
We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
To find the best rate for your next money transfer, check out our comparison of the fees, exchange rates and transfer speeds of Western Union and MoneyGram.
Your guide to international money transfers with SingX, including exchange rates, fees and safety.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.
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