OrbitRemit offers competitive exchange rates and one flat transfer fee.
OrbitRemit is a dedicated online money transfer service that you can use to send money from Australia to other parts of the world. Its services are entirely online, allowing you to send money overseas from your computer without leaving the house.
OrbitRemit exchange rates
OrbitRemit offers exchange rates that are more competitive than those offered by the big banks. OrbitRemit charges a slight margin (or commission) on the real exchange rate (known as the interbank rate), however the margin changed by OrbitRemit is much smaller then that charged by the big banks.
You'll receive up-to-date exchange rates when you request a quote with OrbitRemit, so you can always check what exchange rate you're getting before making the transaction. As OrbitRemit is an online service, it claims to be able to offer low fees and competitive rates by operating with lower overhead costs than banks and other money transfer companies.
How much does it cost to transfer money with OrbitRemit?
OrbitRemit charges one flat transaction fee of just AUD$4.00 to send money abroad. This fee is the same regardless of the transaction amount and where you're sending the money to. Plus, your recipient will not pay any receiving fees. As an added bonus, you'll also receive a free transaction after you successfully complete 10 transactions with OrbitRemit.
Minimum transfer amount and available countries
Users can transfer as little as AUD$5.00 (or equivalent) up to $9,900, and the transaction fee remains the same. It is also possible to transfer over this amount by speaking with OrbitRemit directly, as you'll need to provide some additional documents and information.
You can transfer money from Australia, the UK or New Zealand to over 39 countries around the globe, including:
- South Africa
- Sri Lanka
- United Kingdom
- New Zealand
Unfortunately there are a number of nations where you will not be allowed to send money using this service. They include:
What types of transfers can you carry out with OrbitRemit?
In addition to international transfers, OrbitRemit also can help you make recurring payments to another country. These include repayments of home loans, car payments and rental costs. Once you have this set up, the funds will be sent to the payment account each month automatically.
What are the pros and cons of using OrbitRemit?
- Convenient. With your account set up online, you can easily send money worldwide.
- Flat fees.There's one low, flat fee for transactions of all sizes to all countries.
- Customer service. OrbitRemit offers 24 hour service seven days a week to help you resolve any issues.
- Competitive rates. Due to having their entire operation online, OrbitRemit is able to offer exchange rates that are competitive with other companies.
- Payment method. Having to transfer funds to OrbitRemit as opposed to using a credit card or debit card can take longer.
- Cannot send to all countries. There are quite a lot of countries you're unable to send money to.
How do you send money with OrbitRemit?
You can register for an account online in minutes. You'll need to provide your personal details and verify your identity, so make sure to have your drivers license, passport or birth certificate handy. Once your account is verified, you can book a quote by telling OrbitRemit how much you'd like to send and where.
If you're happy with the quote, pay for the transfer by transferring the money to OrbitRemit's bank account. You can access its account details on the online portal after logging in. This is a domestic bank transfer, so you'll not be charged a transfer fee by your bank. OrbitRemit will then send the money to your recipient, usually within two business days of receiving the funds.
Is this service available for non-residents?
Yes, so long as your bank account is able to transfer funds into your Orbit Remit account.
What’s their refund/dispute handling process?
You will need to contact customer service, which is available around the clock.
Is there a maximum/minimum amount you can transfer?
The amount you can transfer ranges between AUD$5 and $9,900.
Is this service available for small businesses?
Yes, so long as the business is able to transfer money into the account.
Is BPAY available?
No, BPAY is not available at this time.
How long do transfers take?
Generally 36 hours after Orbit Remit receives your payment.
Is there an app available to conduct transfers?
OrbitRemit does not have an app at this time.
How do you check your balance/progress of the transfer?
Your balance will be updated through your account regularly as to the status of your transfer.
OrbitRemit is a simple money transfer service that does not offer an exhaustive list of options, but does have competitive rates and fees. Check what other companies and banks allow you to send money to your preferred country first and compare the services before deciding this if is the right one for you.
OrbitRemit offers a unique alternative to sending money from Australia to other nations. With the convenience of complete online service, they have the ability to make your money transfers easy.