How to sell your property overseas using a money transfer

Your options for repatriating money to Australia after the sale of a property.

Updated

Fact checked

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Selling property can be stressful enough without the worry of how you are going to get the money into your Australian bank account. There are a couple of ways you can transfer money back to Australia after you sell a house overseas. Read on to find out your best option for overseas money transfers.

Send money overseas with TorFX

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

  • No transfer fees
  • Price match guarantee
  • Dedicated account manager assigned to you
  • Forex tools available
Promoted

Receiving an international money transfer from overseas

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 1.99 0.766 USD
7,661
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.769 USD
7,686
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.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.769 USD
7,686
SendFX guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.769 USD
7,686
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.769 USD
7,686
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 1 1 day AUD 52.00 0.768 USD
7,638
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.763 USD
7,629
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
AUD 1 Same day AUD 0.00 0.768 USD
7,678
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.771 USD
7,669
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.764 USD
7,638
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.762 USD
7,621
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.772 USD
7,682
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Why you should use an international money transfer company

A bank cheque or deposit can be convenient, but this convenience can cost you thousands, if not tens of thousands of dollars. When transferring international currency to Australia via your bank, your bank uses its own exchange rate to convert the funds into Australian dollars. This exchange rate is often less than ideal.

International money transfer companies provide bank-beating exchange rates, and some even give best rate guarantees. If you can find a better exchange rate, they’ll beat it, as long as it’s above the interbank rate.

Foreign exchange companies specialise in international currency transactions. When you’re dealing with the sale of a property, you must take the time to compare international money transfer companies and find the one that’s best for you. A small difference in the exchange rate could change your bottom line by thousands of dollars. Looking at a transfer of $500,000, a 0.01% change in the exchange rate makes a $500 difference to the final total.

What to look for in an international money transfer company

  • International offices. As you’re dealing with the sale of a foreign currency and the purchase of Australian dollars, it helps if the international money transfer company has offices overseas as well as in Australia.
  • Service and support. It’s a bonus if an account manager can be assigned to help you repatriate the funds to Australia. They will be able to help you get the best rate as well as identify any issues you may encounter with the money transfer.
  • The best exchange rate. Most international money transfer companies will give you a bank-beating rate. Some can guarantee you get the best rate on your international money transfer.

Which international money transfer companies offer a best rate guarantee?

  • TorFX. TorFX provides bank-beating exchange rates and also specialises in repatriating money to Australia. Part of this service includes a best rate guarantee, a personal account manager to help you with the international transfer and the ability to fix a rate two years in advance. To get the TorFX best rate guarantee, you need to show evidence of a competitor’s quote with the better rate before you agree to the transfer, and the foreign exchange rate has to be above the interbank rate.
  • Travelex. Travelex also give customers an international price promise. You must provide a like-for-like competitor’s quote with a better price to Travelex within 30 minutes.

What about capital gains tax?

You must pay capital gains tax (CGT) on the sale of overseas property, and you must include the sale of the asset on your Australian tax return so the income can be assessed by the tax office.

If you’ve paid a foreign tax as well as CGT in Australia, you may be eligible for the government’s foreign income tax offset. This stops you from paying tax twice on an asset. You can also claim an amendment if you’ve paid foreign tax on the asset in the previous financial year.

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

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.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site