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How to send money to Australia
Find a quick, affordable service to make a money transfer to Australia.
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If you need to send money to Australia, all you have to do is follow several simple steps:
- Compare and choose your service. Use the table below to find the transfer service that best suits your needs.
- Sign up for an account. You'll also need to verify your identity with either a passport or driver's licence.
- Set up the transfer. Add in your recipient's details and how much you want to send, and lock in the exchange rate.
- Confirm and pay. Your money will be delivered to your recipient in Australia.
Find the best money transfer to Australia
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Australia with our money transfer partners.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What's the best way to send money to Australia?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Australia. Some offer transfers straight to Australian bank accounts, while others allow the money to be picked up in Australian dollars in person. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times.
Digital money transfer services
Companies like XE and CurrencyTransfer specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient's Australian bank account, often in as little as a day or two.
Cash transfers
Services like MoneyGram allow you to transfer cash for pickup at a local branch in Australia— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Wise when possible.
Banks
Most banks will send money to an Australian bank account and exchange your currency into Australian dollars. This method is also known as an international money transfer, a telegraphic transfer (TT), a wire transfer or a SWIFT transfer.
However using a bank will come at a cost. Most banks will charge a flat fee and poor exchange rates, which can have a huge effect on how much the transaction ends up costing you. Additionally your bank and the bank at the other end of the transaction could charge "sending" and "receiving" fees.
How to send money to Australia online
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and your preferred payment method.
- Provide transfer details. Submit your recipient's contact information and pick a delivery method. If you're transferring to a bank, you'll need your recipient's Australian bank account details.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Australia. Some money transfer providers send a text or email when your transfer is complete.
How to get the most out of your money transfer to Australia
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Australia to meet your needs:
- Exchange rates. Exchanging currency ahead of time, or locking in prices, can help you prepare for rate shifts.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Australian dollars you're sending.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Australia.
- Maximum limits. When exchange rates are favourable, sending more money can save you money in the future. If you plan to send large amounts of money to Australia, be sure to pick a provider that won't limit you.
- Transfer methods. Whether you want money sent to an Australian bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer to Australia
When it's more important to get your money to Australia quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
How to send money to Australia without a bank account
Cash transfer services can help when you need to transfer without a bank account. If you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
Australia's exchange rates explained
The exchange rate determines how much one country's currency is worth in another country's currency. When a country's currency is strong, it yields more money when exchanging it in a country with a weaker currency. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Documents needed for sending to and receiving money in Australia
To send money to Australia from overseas, you'll likely need government-issued ID and other documents, while documents needed to pick up money in Australia may be different by company.
Documents to send money to Australia
To send money to Australia, you'll likely need documentation and details that include:
- Identification. Most services require a driver's license, passport or other government-issued ID.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
- Recipient information. Submit your recipient's name as it appears on their ID, along with their phone number, Australian bank account and routing number if sending to their bank.
Documents to receive money in Australia
To pick up money in person, documentation can include:
- Transfer number. The person sending you money can forward the transfer's confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. An Australian passport, Australian driver's license or similar form of government-issued ID will be accepted for identification for most money transfer cash pickups.
- Amount sent. You may need to know how much was sent, usually within 10% of the total.
- Sender's information. Take along your sender's full name, the sending country and their address, if known.
What to watch out for
Keep in mind that the Australian Transaction Reports and Analysis Centre (AUSTRAC) requires financial institutions and money transfer services to report any transactions into or out of Australia that are above $10,000. Therefore if you're sending more than $10,000 to Australia, you may be required to provide some additional information to the money transfer provider before it can complete your transaction.
How much can I transfer
Keep in mind that the Australian Transaction Reports and Analysis Centre (AUSTRAC) requires financial institutions and money transfer services to report any transactions into or out of Australia that are above $10,000. Therefore if you're sending more than $10,000 to Australia, you may be required to provide some additional information to the money transfer provider before it can complete your transaction.
The source of the money and the taxation laws that apply
Generally speaking, you can transfer money anywhere in the world as long as you've met the relevant taxation laws which apply in the place the money was earned/received. Before you transfer the money make sure that you review the laws which apply in your jurisdiction to ensure that all applicable tax has been paid (eg, income tax, inheritance tax). Once all taxes have been paid in the place you received the money, international treaties will protect you or anyone you're sending the money to from paying tax on the money twice (double taxation).
Your residency status
Your tax residency status will play a big factor in determining whether your transfer runs the risk of attracting Australian taxation. According to the Australian Taxation Office (ATO), if you are moving to Australia for the first time any savings that you transfer will not subject to Australian taxation. There is no limit on the amount of currency that you can bring with you. However, when you become an Australian resident or citizen, any money that you transfer to Australia from overseas which can be classified as income earned overseas (including income from rental properties) will be subject to taxation and you must to declare it on your Australian tax return.
Bottom line
Sending your hard-earned money to Australia shouldn't cost a fortune. Compare transfer companies that specialize in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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