Repatriation of funds | Definition, how to find the best exchange rate and FAQs

Moving funds back to Australia from overseas does not have to be time consuming or costly. Learn how you can find cost-effective, fast ways to repatriate your funds.

If you make regular overseas payments, it helps to have a service provider with money transfer services that are cost-effective and reliable. Transferring your pension, wages, tuition fees or even loan payments to another country can be a daunting and time-consuming process, especially if you make the payments on a regular basis. However, using a service provider who can offer you great customer service, competitive rates and low transfer fees can be beneficial when making regular international money transfers.

Rates last updated December 17th, 2017
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.
Exclusive: OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Exclusive: WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
XE International Money Transfers
AUD 0
1 day
Online, Phone, Bank Account to Bank Account
Enjoy fast, secure and fee-free international money transfers from global payments provider XE.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Make your first transfer for free
Send money in more than 40 currencies.
Exclusive: Sable International Money Transfers
AUD 0
1 day
Online, Phone, Bank Account to Bank Account
Exclusive offer: $0 transfer fee and Price Beat Guarantee
Quote "finder" when your Sable International account manager calls you - guaranteed to beat any competitors exchange rate.
Foremost Currency Group
AUD 1,000
1 day
Online, Phone, Agent, Bank Account to Bank Account
Trade over 40 currencies with no transfer fees with Foremost Currency Group.
Moneycorp International Money Transfers
AUD 2,000
Same day
Online, Phone, Bank Account to Bank Account
The longest standing and largest full service specialist currency provider in the UK.
Compass Global Markets International Money Transfers
AUD 1,000
1 day
Online, Phone
Send money overseas in at least 140 currencies.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Keep ahead of the curve with daily currency exchange rate alerts

Rates last updated December 17th, 2017
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
Forward contracts and order types available
Receive currency analysis by market professionals, free transfers and competitive exchange rates
Exclusive: OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Exclusive: WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone
Forward contracts and spot contracts available
View live rates, graphs and economic commentary. eCommerce-tailored solutions.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
HiFX business services are designed to save you time and money.
WorldFirst Money Transfers for Online Sellers
1 day
Online, Phone, Agent
Designed for online sellers
Open receiving accounts around the world is easy, including China and Japan.
Compass Global Markets International Money Transfers
AUD 1,000
1 day
Online, Phone
Hedge your foreign exchange risks by becoming a client.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Keep ahead of the curve with daily currency exchange rate alerts

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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

Repatriation of funds

If you regularly pay bills, send school fees or make mortgage payments from overseas, it’s important to have a simple, cost-effective way to ensure your money gets to the required account in time and that you don’t end up paying outrageous amounts each month on transfer fees and commissions. Since banks charge up to $50 per transfer, you can look for smart ways to beat bank transfer fees and hidden charges using an international money transfer service provider.

How does repatriation of funds work?

Repatriation of funds basically gives you the ability to have money without borders, allowing you to transfer funds back to Australia from overseas. There are many Australians living and working overseas who retain close investment, family and business connections in their home country, thus needing the capability to move money back home regularly. However, it is not always easy to move your investment funds or other funds from one country to another as there may be restrictions around how much you can move and requirements for you to prove that your money is from a legitimate source. A repatriation service provider can help you get your money to Australia and ensure that you save a substantial amount by offering you a competitive exchange rate and low transfer fees.

Examples of repatriation of funds

  • Investment. Purchasing property overseas is a significant investment. Although property may be cheaper abroad than in Australia, you will still need to move a huge sum of money and will need a currency provider who offers you a competitive foreign exchange rate.
  • Foreign pensions. If you hold your pension in an overseas account and are planning to retire back home, you will need to move your pension fund to Australia with the help of a currency provider who can save you money on fees, give you a good exchange rate and help you come up with a retirement plan.
  • Wealth management. Converting assets held overseas into foreign currency can be confusing, especially due to the many laws regulating international transfers of investment funds and occasional currency exchange fluctuations. Wealth management and conversion of assets is part of the repatriation services offered by banks and other currency providers.

How do I compare international money transfer services?

  • Fees. A currency provider that charges you competitive fees for international money transfers can help you save a huge sum of money. While banks may end up charging up to 1% of the transfer amount in fees, you can save by using a currency provider who has little or no transfer and commission fees.
  • Accessibility. If you regularly transfer money internationally, you need a service provider with wide coverage in many countries. Most main international money transfer banks and companies have an international presence, with multiple branches, agents and offices in Australia and abroad that make it easy to send and access funds from almost anywhere globally.
  • Exchange rates. Transferring funds from one country to another at the right time can make you a substantial amount in profits. Since foreign exchange rates are always fluctuating, you need a currency provider who can advise you on the right time to convert your funds overseas and provide a competitive exchange rate.
  • Reputation. With so many currency providers in the market today, you need to protect your investments overseas by only trusting a well-known provider or bank to handle your international money transfers.

What are the pros and cons to repatriating funds?

Pros

  • Easy and fast overseas payments. Whether you are making a one-off overseas payment or are regularly transferring money back to Australia for family, investment or business needs, you can do this easily by using the international money transfer services offered by banks and other service providers.
  • Easier emigration. Moving to another country can pose many challenges, the biggest of which may be converting all your assets to foreign currency for use in your new country. With repatriation of funds, you can easily convert all your offshore assets to cash and move it from an overseas country back to Australia in an easy and convenient process.
  • Competitive international transfers. There are many new currency providers who are moving away from the old ways of transferring funds internationally and who can save you a lot by waiving all fees and commissions on transfers when repatriating funds.

Cons

  • Laws and regulations. Repatriating funds can be complex due to the many laws governing the process. You can face restrictions in some markets on the amount you can send or on the method of sending funds back to Australia.

Frequently asked questions

Is it possible to fix your exchange rate in advance?

Yes. If you are planning to repatriate funds in the future, you can talk to your currency provider about the right time to do this. If exchange rates are extremely volatile at the moment, you have the option of fixing your exchange rate up to one year in advance.

How can I make a profit when repatriating funds?

Moving money when foreign exchange rates are high is a sure way to make substantial profits on international money transfers. A foreign exchange broker can offer you advice on the right time to convert your foreign funds.

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.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

Exclusive: OFX (Ozforex) International Money Transfers

Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.

Exclusive: WorldFirst International Money Transfers

Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.

FC Exchange International Money Transfers

FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.

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12 Responses

  1. Default Gravatar
    RickMay 10, 2017

    How to convert USD Bank Checks(Cheques) mailed to Oz to AUD paid from overseas online businesses?

    • Staff
      ArnoldMay 11, 2017Staff

      Hi Rick,

      Thanks for your inquiry.

      Regarding this, the best thing to do is to work this out with your bank. They will provide you options as it varies from each bank.

      Hope this information helped.

      Cheers,
      Arnold

  2. Default Gravatar
    darylJanuary 20, 2016

    hi,

    similar to Arthur ( above ) I also have a large sum of THB in Thailand ( from salary ) and am looking to send it back to Australia.

    Can you advise if it is best to convert the THB to AUD in Thailand, then TT AUD back to Australia or to send a THB TT ( with THB conversion to AUD occurring in Australia )…

    I have done both in the past, and been burned both times by getting it wrong. Is there any way to check the FX rates at departure country and country of receipt and or to lock the rates in ( if country of receipt has a better rate??

    thanks

    • Staff
      ShirleyJanuary 21, 2016Staff

      Hi Daryl,

      Thanks for your question.

      If you’re currently using banks to complete the telegraphic transfers, there’s a good chance that you’re not getting the best value.

      You may want to compare international money transfer services as they usually offer better rates and lower fees.

      Using this method, it generally doesn’t matter which country you exchange the money as it only goes through one channel.

      Cheers,
      Shirley

  3. Default Gravatar
    March 25, 2015

    What are the criteria for listing the various banks/ exchange transfer companies in your comparison table? I was potentially interested in Currency Fair, now it is not listed any more – why not?

    • Staff
      ShirleyMarch 25, 2015Staff

      Hi Ellen,

      Thanks for your question.

      Unfortunately Currency Fair is not part of our panel of providers at this current point in time. If you would like to read our review of other international transfer products, please have a look at our page.

      Cheers,
      Shirley

  4. Default Gravatar
    EllenMarch 11, 2015

    Can I transfer funds from a German bank account to an Australian Bank account using Currency Fair International Transfers? How does it work ?

    • Staff
      ShirleyMarch 12, 2015Staff

      Hi Ellen,

      Thanks for your question.

      Yes you can transfer funds from a German bank account to an Australian bank account using CurrencyFair. First you’ll need to set up an account with Currency Fair and provide supporting documentation for your account.

      You can then follow the prompts to complete your transfer, you’ll need to provide the details of both of your accounts.

      Cheers,
      Shirley

  5. Default Gravatar
    ArthurAugust 26, 2014

    Hi,
    I have a substantial amount of Thai Baht in an account in Thailand and wish to have them back here in Australia, Can you direct me to where I can find the Information on recovering these funds and what the fees might be to have them back in my Australian Bank Account.
    Thank You,
    Arthur

    • Staff
      ElizabethAugust 26, 2014Staff

      Hi Arthur,

      Thanks for your question.

      You can use the table on this page to compare providers who will be able to offer you international transfer services. To learn more about these individual providers, you can click the ‘more’ button, which will take you through to a page that will show you what’s involved with the transfer, including a breakdown of fees (for most providers). You can then click the ‘apply’ button to start the transfer.

      Hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    TejasJuly 11, 2014

    Looking for guidelines on Repatriation of fund FROM Australia to home country (for Non Australian Resident).
    Thanks.

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