buy business and industrial equipment overseas

How to buy business and industrial equipment overseas

Need to buy industrial equipment overseas in bulk? By using a dedicated international money transfer provider you’ll get the best bang for your buck.

From local shopping centres, restaurants and florists, to entrepreneurial startup businesses, factories and giant global corporations, every business type and size needs to watch their expenditure and save money where possible for a year-round healthy revenue.

A functioning business also needs industrial equipment. Whether you’re fitting out a new office space, buying a new coffee machine or updating earthmoving equipment, it’s essential to find a quality product that won’t cost a fortune but still lasts the long haul.

In this short guide we investigate how to buy business and industrial equipment, if purchasing overseas is cheaper than buying local and why using a dedicated international money transfer provider is the way to go.

Buying industrial equipment online

There are many forms industrial equipment used in the workplace and often the materials are large and strong, comprised of titanium and steel. Sometimes machines are needed to lift and move these types of materials, which could weigh tonnes.

While industrial equipment should be inspected every day to ensure it’s in the best working condition, in some cases equipment can break. If a piece of your industrial equipment is no longer in working order it should be stopped immediately and not used for any reason.

So where do you find its replacement? While you could source it locally, you could get a much cheaper deal by heading online to a suppliers or wholesale website.

To purchase your industrial equipment safely and securely online, look for the following:

  • Australian .au websites. While it could be slightly cheaper buying straight from the supplier’s overseas website, if you’re able to purchase locally, go ahead.
  • Global .com or .net websites. Check their online portfolio, social media, reviews and whether they ship to Australia.
  • Check shipping costs. Australian and international shipping costs can add up and be expensive.
  • Alternative payment methods (that are verified). If you’re buying from an overseas website or individual an international money transfer will mean you won’t have to pay any fees.
  • Warranty. Check that the purchase comes with a warranty to cover your equipment in case something goes wrong.
  • Refund/exchange flexibility. With any online purchase, knowing there’s the flexibility of a refund, return or exchange brings peace of mind.

Thousands of websites specifically deal in both business equipment and industrial equipment. These include:

  • ebay
  • industryclearance
  • machinerytrader
  • rbauction
  • capsshop
  • machines4u
  • graysonline
  • equipmenttrader
  • primesupplies
  • industrybuying
  • amazon

Please note that these sites are suggested as a general guide. They may change in design or price and finder.com.au takes no responsibility for any of their changes.

Buying locally vs buying overseas

With such a diverse range of specific equipment needs on offer, you could end up paying far more locally than you would overseas. This is often referred to as “the cost of convenience”.

For example, a mechanical service workshop will often have to source unique parts for different customer requirements. If you work in a fixed industry like this, purchasing your equipment online from overseas is a cost-effective option if it’s not required immediately and you’re prepared to wait.

With the majority of manufacturing taking place outside of Australia (outsourced to China, India, South Korea, Thailand or Turkey) it makes sense to head straight to the source for cheaper industrial equipment.

Considerations when buying industrial equipment online

For individuals and businesses who plan on purchasing equipment from an overseas supplier, choosing an international money transfer over the bank or PayPal could mean you avoid paying extra. This provides you with a better exchange rate plus much lower fees or none at all.

Compare international money transfer services

Rates last updated November 19th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Bank Account to Bank Account
TorFX guarantees to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.
OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
$0 transfer fees for Finder customers.
Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone, Bank Account to Bank Account
Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
*Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.
WorldRemit International Money Transfers
AUD 1
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Global Reach (formerly FC Exchange) International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
XE International Money Transfers
AUD 10,000
1 day
Online, Bank Account to Bank Account
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Transfer amounts as low as $50. No maximum transfer amount. No transfer fees if you transfer more than AU$10,000.
FlashFX International Money Transfers
AUD 200
1 day
Online, Bank Account to Bank Account
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees.
Exclusive: InstaReM International Money Transfers
AUD 200
1 - 2 days
Online, Phone, Bank Account to Bank Account
Exclusive: finder customers receive $15 off their first transaction. T&Cs apply.
InstaReM offers simple and quick international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction, plus finder customers receive $15 off first transfer (T&Cs apply).
TransferWise International Money Transfers
AUD 1
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
Remit2India International Money Transfers
AUD 50
Same day
Online, Bank Account to Bank Account
Instant transfers to India from anywhere in the world with $0 transfer fees.
New customers who create an account with Remit2India and make a transfer of AUD$500 or more for the first time will receive a complimentary $25 Coles/Myer e-voucher. Click 'Go to site' for T&Cs.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
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Benefits of choosing a dedicated money transfer provider

There are several reasons why you should opt for a money transfer when purchasing industrial equipment online.

  • Flexibility. Money transfers are desktop-, mobile- and tablet-friendly so that you can transfer money on the go as long as you’re connected.
  • Secure data. Provided you do your research and compare services, dedicated online money transfer providers are safe and secure, encrypting your financial data to protect sensitive information.
  • Merchant/software integration. If you need to keep a history of your industrial equipment purchases or invoices, some online money transfer providers integrate well with accounting software like XERO.
  • Low exchange rates. Unlike banks that may use an outdated exchange rate, money transfer companies work to find the best exchange rates possible. For example, CurrencyFair have an open market where users can propose their own exchange rate deals.
  • Lower fixed fees. Many dedicated money transfer providers offer their services fee-free.

Free international money transfer calculator

Get favourable exchange rates and lower fees with a dedicated international money transfer service provider. There’s a world of options out there but we’ve made it easy for you.

Use our free international money transfer calculator for new business leases to find a provider suitable for your startup. Register for a service by clicking “Go to site” or “More” to learn more about a product.

Alison Banney

Alison Banney has been writing about banking and personal finance for more than six years. She has previously worked at one of Australia's biggest banks, Westpac, before joining finder.com.au as the Senior Banking and Investment Writer.

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