International-money-transfers-and-eBay

How to sell your items on eBay using an international money transfer

Use international money transfers to maximise your profits when you sell items overseas on eBay.

Whether you’re an ecommerce retailer or just selling some of your unwanted items online to make some extra cash, it’s important that you advertise your products to as wide an audience as possible. That often means not only selling products in Australia, but advertising them to overseas customers as well.

One of the best ways to do this is through eBay, the world’s biggest online auction website. With millions of customers each month from all around the globe, eBay can help you access a significantly larger customer base than you can find in Australia alone.

Let’s take a look at how to sell items overseas on eBay, and how you can use international money transfers to help make the process as profitable as possible.

Looking to sell an item on eBay? Compare your money transfer options first

Rates last updated December 8th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
AUD 200 1 day Online, Phone, Agent Go to site More
Exclusive: World First Foreign Exchange
Exclusive: World First Foreign Exchange
Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
AUD 500 2 days Online, Phone Go to site More
Exclusive: CurrencyFair International Money Transfers
Exclusive: CurrencyFair International Money Transfers
Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.
EUR 8 2 days Online Go to site More
FC Exchange International Money Transfers
FC Exchange International Money Transfers
No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent. GBP 3,000 1 day Online, Phone, Bank Account to Bank Account Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com.au exclusive exchange rates and $0 transfer fee on all transfers.
AUD 250 1 day Online, Phone, Agent Go to site More
Currency Online International Money Transfers
Currency Online International Money Transfers
Enjoy regular scheduled transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free. AUD 0 2 days Online, Phone Go to site More
Compass Global Markets International Money Transfers
Compass Global Markets International Money Transfers
Send money in as little as 24-48 hours to a range of countries with Compass Global Markets. AUD 1,000 2 days Online, Phone Go to site More
1st Contact International Money Transfer
1st Contact International Money Transfer
$0 online fee without any minimum limit on money transfers. AUD 0 2 days Online, Phone, Bank Account to Bank Account Go to site More
Currency Solutions International Money Transfers
Currency Solutions International Money Transfers
Send money overseas for a range of reasons, including regular payments and buying overseas property. 97% Trustpilot score. AUD 3,000 2 days Online, Phone, Bank Account to Bank Account Go to site More

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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
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Where does eBay operate?

Looking to expand your ecommerce business overseas or just advertise your products to a wider audience? The good news is that eBay operates websites in a long list of countries other than Australia:

  • Malaysia
  • Singapore
  • Taiwan
  • France
  • Italy
  • Spain
  • Germany
  • Switzerland
  • Belgium
  • Ireland
  • Russia
  • Czech Republic
  • Denmark
  • Israel
  • Sweden
  • Luxembourg
  • Turkey
  • The Netherlands
  • Poland
  • Norway

However, before you start selling products to any of these countries, do some research to find out if this is a financially viable option for you. Each country has its own restrictions on the importation of goods and what can be legally listed for sale. You’ll also need to make sure any products you ship overseas comply with Australian export laws, as well as import/export tariffs and other taxes that may apply.

Finally, remember that customs fees will apply, so you’ll need to decide who will cover these fees – the buyer will be responsible for customs charges in most cases, but you will need to inform them of this before they make the purchase. Take a look at eBay’s international trading policy for more information on how to sell items overseas.

It’s also a good idea to research local markets to get an idea of how much demand there is for the products you want to sell. This will also help you form a clearer picture of how to price your products to attract the right buyers.

How to list items on overseas eBay websites

Before you can sell anything on an international eBay website, you must:

  • Have an eBay account in good standing. If you’ve got too much negative feedback or your account is under investigation for dodgy trading, you won’t qualify
  • Have a PayPal account and be PayPal Verified
  • Have earned at least 10 Feedback Points as a seller
  • Have made your first successful sale more than three months ago
  • Meet the selling requirements of the individual eBay websites where you want your listings to appear. This may require a little research in some circumstances to make sure you’re not breaching any guidelines or regulations

There are two ways you can list an item for sale on eBay’s international websites:

  1. List it on eBay’s international website. When you list a product in English on eBay’s international website, select the “international site visibility listing” option. This is the ideal option if you only want to sell to English-speaking countries, as it only requires you to enter one listing and also means you will pay lower fees. There are additional requirements that need to be met, including where you can offer shipping to and listing PayPal as a payment method.
  2. List the item individually on different websites. This option is necessary if you want to list your product on sites in languages other than English. It can be a time-consuming process but does allow you to tailor your listing to individual markets.

International selling fees

You will also need to consider the cost of listing and selling your items on eBay. The following fees apply and are listed in US dollars:

  • Insertion fee. $0.30 per item, but the first 50 items you list each month do not incur this fee.
  • Final value fee. This fee is paid when the item sells and is 10% of the sale price (including shipping).
  • International listing fee. If you select international listing visibility, the following fee structure applies:
PriceFee (USD)
$0.01–$0.99$0.10
$1.00–$9.99$0.10
$10.00–$24.99$0.20
$25.00–$49.99$0.20
$50.00–$199.99$0.40
$200.00–$499.99$0.40
$500.00+$0.40

Exchange rates and how to get the best deal

If everything goes to plan, you’ll soon be receiving bids for your products from buyers all over the world and will hopefully increase your online selling profits. However, where some sellers lose out is when they transfer the payment they receive in a foreign currency back into Australian dollars.

eBay’s payment provider of choice is PayPal. We’ve previously written an in-depth review of PayPal’s international money transfer service but, to summarise, PayPal’s exchange rates and high fees mean it is usually one of the more expensive options when you need to send money overseas. This can have a huge effect on your bottom line.

To make your overseas eBay sales as profitable as possible, receive payments in each eBay market’s local currency – euros in the Eurozone, US dollars in the USA, pounds sterling in the UK etc. In many cases you will need to open an international bank account in a country to hold your payments, so research a range of options before choosing an account. Once you have an account in the local currency, you can then pick and choose the best times to transfer money back to Australia based on fluctuations in exchange rates.

You can also find a much more cost-effective transfer method than sending an international transfer direct from your overseas bank account to your Australian bank account, not to mention a cheaper option than using PayPal.

Online international money transfer providers such as OFX, World First and Currency Online specialise in moving funds across international borders. Because they’re foreign exchange specialists trading large volumes of currency, they can offer superior exchange rates to PayPal and the banks. They also tend to charge much more reasonable transfer fees, and will sometimes waive their fees altogether on large transfers.

To give you a clearer idea of just how much money you could save by using an international money transfer to send your eBay profits back to Australia, let’s take a look at a case study.

PayPal vs international money transfer

Ben sells a range of essential oils online to eBay customers in the UK. He receives payment for his sales in pounds sterling and deposits his profits into an account with a leading UK bank.

After accumulating a balance of £1,000, Ben decides the time is right to transfer his earnings back to Australia. He gets quotes from PayPal, his bank and an online money transfer provider to see which one offers the cheapest transfer solution. The results of his quote comparison are shown in the table below.

PayPalBank transferOnline money transfer provider
Transfer amount£1,000£1,000£1,000
Exchange rate1 GBP = 1.5382 AUD1 GBP = 1.5594 AUD1 GBP = 1.6003 AUD
Transfer fee£10£20£3
Processing time2-5 days1-4 days1-2 days
Amount received (in AUD)$1,538.20$1,559.40$1,600.30

As you can see, the online money transfer provider easily offers the highest exchange rate of the three options, allowing Ben to send $40 extra when compared to a bank and more than $60 extra when compared with PayPal. It also offers the lowest transfer fee of all three options, allowing Ben to save as much as £17 on transaction charges.

How to choose a money transfer provider

Before you choose a money transfer service to help you transfer money to Australia from overseas, compare a range of providers across the following categories:

  • Exchange rates. The exchange rate you receive has a huge bearing on the overall affordability of your transaction. Shop around to find the provider that regularly offers the best AUD exchange rates from the overseas countries where you receive eBay payments.
  • Transfer fees. The other major cost to consider is the fee that will apply to your transfer. Compare the fees charged by different providers in relation to the exchange rates they offer, and remember that some companies waive their fees on large transfers.
  • Transfer options. You may also wish to look for a company that offers flexible transfer options to help you save time and money. For example, you might be able to schedule recurring payments months or even years in advance, or use a forward contract to lock in an exchange rate now for a future transaction.
  • Processing times. Consider how long it will take for the money you send to arrive into your Australian bank account. If speedy transfers are essential, look for the company that offers the quickest processing times.
  • Supported currencies. You will need to make sure that the provider you choose allows you to transfer funds in any currency in which you receive sales payments.
  • Customer support. This is a crucial factor that is sometimes overlooked. Make sure that you can easily access phone, email and/or live chat support if you ever need help with a transfer.

Other things to be aware of

There are a few other tips worth remembering when selling items overseas on eBay, including:

  • Tax requirements. Remember that you need to report all foreign income to the ATO. There may also be taxation requirements specific to each country, such as the US/Australia Tax Treaty which prevents you from paying tax twice on your foreign income. Seek advice from your accountant to make sure you comply with all laws and regulations.
  • Watch out for fraud. Make sure you’re aware of the risk of fraud when accepting payment from foreign buyers. eBay offers some handy advice on how to recognise counterfeit cashier’s cheques.
  • International shipping. If there’s a specific country you don’t want to or can’t ship to, you can exclude shipping to those regions. Also, it’s a good idea to consider insuring any items shipped internationally with your courier or postal service.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

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