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With the right tools at your disposal, you can find the best deal and have quick access to your funds when you receive a money transfer from abroad.
The best way to receive money from overseas depends on your specific situation. For many people, receiving the money straight to their bank through an international money transfer is the most convenient, even if it can be expensive. Typically it is cheaper to use a money transfer company since these types of companies specialize in sending money overseas and offer lower fees and stronger exchange rates than banks.
From cheapest to most expensive, the best way to receive money from overseas is:
Use our comparison table to see how much money you could receive through different money transfer companies. Enter the amount you'll be receiving, the currency in which it will be sent, then click Calculate.
In order to receive money from overseas, you'll need to provide specific details about your bank, including:
If you decide to pick the transfer up as cash or have it delivered to a digital wallet, the information you'll need to provide will vary.
The process may differ depending on the service provider used to send the funds. With some money transfer services, you need to request the transaction reference number from the sender and present the number along with your identification documents. You may also be required to fill out a receive form to access your funds.
With online transfers, the funds are deposited into your account, after which you can withdraw them. You can also receive funds through a prepaid card or mobile wallet.
Money transfers come in many varieties, all of which can be used to receive money from overseas.
Yes, unless the money transfer falls into specific categories. In short, when receiving more than $10,000 from abroad, you must report it on your taxes.
Receiving money from overseas doesn't have to be expensive or stressful. By comparing your options, you can make sure you aren't paying too much in fees or losing money to a poor exchange rate. Before making a final decision, learn more about how to save money when sending and receiving money from overseas.
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Iam in Uganda and my friend is in Australia but wants to send for me money and luggage
iam stack what method should we use
Hi Baale,
Thank you for reaching out to finder.
You may click on this link to be routed to our page on “Sending money to Uganda”. Once on the page, you could use the calculator to estimate how much would be received in Uganda once the transfer is completed. If this is satisfactory to you, you can click on the “Go to site” button to be routed to the providers page where you could make the transfer.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.As per the luggage, you may need to reach out to local couriers that provide international package delivery for a quote on how much it would cost. Hope this helps!
Cheers,
Reggie
I would like to GIFT cash to an Australian friend, who is in dire straits. What is the limit, and will it be taxable for her?
Hi Woofer,
Thank you for leaving a question.
For social security means test purposes, individuals and couples (combined) can give up to $10,000 in cash gifts and assets each financial year. This amount is also limited to $30,000 over five consecutive financial years. Hope this helps!
Cheers,
Reggie
How to track/check the money transfer in ORbitremit..
Hi Joy,
Thanks for leaving a question on finder.
Your balance will be updated through your account regularly as to the status of your transfer. You can check this by going directly to OrbitRemit’s website. For further help about this, you can go to the help section in their website. You can also learn more about OrbitRemit if you click HERE.
Cheers,
Joel
Can money be sent from India to Kenya through Moneygram?
Hi Linda,
Thank you for your enquiry.
You may send money from India to Kenya through Moneygram. You may also avail the services of these money transfer companies that have agent locations in Kenya listed on this link.
Kind regards,
Jason
What’s the best way to receive money transfers from Greece to the USA what should I use for this because my partner is trying to send me money but im not eligible for a bank account because my license expired and I can’t renew without a bit certificate my wallet was stolen all I got is a crappy photo copy of the expired license
Hi Launicaprincesa,
Thanks for your question.
You can utilise cash pick up services such as Western Union, Moneygram and Worldremit.
All you need is a government ID to pick up the funds from a specified location.
Hope this helps,
Shirley
Just wondering if the receiver can receive the same currency as the sender.
Hi Sophie,
Thanks for your question.
Yes, same currency transfer is possible. We have a guide how it works on this page.
Cheers,
Anndy
Hello, I will be moving to Australia from India very soon and will need to transfer funds for the initial period. One of my major concern is the charges for incoming wire transfer charges by Australian banks. There does not seem to be one clear figure they charge, it seems to vary due to tie-ups. How can I get information about incoming wire transfer charges?
Are there any Forex services which do a local bank transfer thus avoiding the incoming wire transfer charges.
Thanks.
Hi Prabha,
That is a great question.
Unfortunately you are correct – the fees charged by each bank vary. That’s one reason some people prefer to use dedicated foreign exchange company over banks. You can however look into using an international bank such as Citibank and ING Direct. Generally international banks offer better deals on money transfers and there are some conditions that apply. For example, Citibank offer free global transfers between Citibank accounts in specific countries.
Your other option is to use a dedicated foreign exchange service. Our page on Free Money Transfers might help you – you can use the comparison table to compare exchange rates. However, there may be fees applied from the receiving bank. You may also want to consider our Moving to Australia Guide and our Migrant Banking page.
Regards,
Clarizza
Hi I am currently working in California for 3months my pay will go into a western union acct can someone in Australia open an acct for me? And can I then transfer it to a.n.z. or commonwealth acct? As I don’t want to fly home with a bit of cash
Thanks
Hi Leonie,
Thanks for your question.
You can set it up so someone in Australia can pick up the cash for you at a Western Union kiosk and then they can deposit it into your bank for you.
Alternatively, you may want to consider an international money transfer service and have the funds directly deposited into your bank account here in Australia, this eliminates the need for someone to pick up the cash.
I hope this has helped.
Hi. Do you have a physical office in Thailand ?
Hi smngrffth,
Thanks for your question.
Since finder.com.au is an Australian third party comparison service, we don’t have any offices in Thailand.
Western Union has a number of kiosks available in Thailand.
Hi i am moving back to melbourne, and i will have a large sum of money transferring back to australia(over a mil AUD). so i don’t trust these small transfer bank. So which is the best rate for bank? st george, westpac, commonwealth, or anz? thanks.
Hi Michael,
Thanks for your question.
Please note that the international money transfer services that we list are regulated in Australia by ASIC under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 and is regulated by the Australian Transaction Reports and Analysis Centre ‘AUSTRAC’.
The exchange rates will depend on the currency you’re transferring from, so we’re unable to tell you immediately which bank is “best”. Please compare St.George rates here, Westpac rates here, CBA rates here and ANZ rates here.