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It can be enough trouble keeping up with bills at home without having to worry about managing them from abroad. Nevertheless, you need to pay your home loan wherever you happen to be, and utility bills and business expenses often can't wait for you to return home. Or perhaps maybe you need to help out family living abroad.
International money transfers aren't complicated or expensive and newer online providers are undercutting the competition on exchange rates, fees and speeds — as well as making it easier than ever to get your money where it needs to go around the world.
You have a few options when it comes to paying bills overseas. One is for you to find out if your existing bank offers international bill-payment services, and your other option is to register with an online bill payment facility provider. In either case, bear in mind that all international money transfers, bill payments included, depend on exchange rates between any two given currencies.
When it comes to receiving money from overseas, international transfer providers give you multiple options from which to choose. You can collect cash from a designated location, receive funds on a prepaid card, funds can transfer directly into your bank account, and certain providers also offer mobile wallet deposits.
Bear in mind that sending and receiving money internationally depends on exchange rates that are subject to change on a daily basis. In addition, service providers tend to charge a fee for such transactions, and they normally deduct this from the transferred amount.
Paying any international bill requires you to know if the amount remains the same each month or changes.
Businesses that offer international bill payments alternatives, in addition to charging fees, also make money by offering lower than existing market rates. This is why some businesses offer better rates than others.
The name of the service provider you wish to pay, your account number with the provider in question, and the amount you wish to pay.
This essentially depends on the provider you choose to deal with, because certain providers have such limitations in place.
Your guide to currency exchange in Brisbane, including how to get the best exchange rate.
Your guide to key inheritance statistics in Australia and what to expect from the upcoming “great wealth transfer”.
Your guide to Australia’s key exports and imports, trading partners and economic complexity.
Using international money orders to send money overseas? Learn about better options.
Search for the SWIFT code you need when sending money to NAB.
If you're looking to transfer money out of Australia, read our guide on the four best transfer companies.
Don’t pay too much for a money transfer. Check out the latest Remitly promo codes and discounts.
Are you due to receive a large sum of money from another country? Familiarise yourself with Australian laws and tax regulations regarding money transfers.
Minimum and maximum transaction limits can restrict your international money transfer options, so compare overseas transfer limits in this handy guide.
What bank account details do you need to provide to send or receive an international money transfer? Your guide here.
I want $1045 US dollars to be received in the USA and Im sending this from Australia. How do I enter the calculate question please?
Hi Keith,
thanks for the question.
While our calculator doesn’t specifically allow you to work back from the amount you want to be received, you can try entering in different transfer amounts until you arrive at the $1045 amount. At the time of writing, it looks as though sending approximately $1,360 AUD would see you send amounts close to $1,045.
I hope this helps,
Marc.