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If you need to send money from Australia to France, you have plenty of options. However, it pays to compare your options and shop around to find the best deal. Check out some of the most popular providers below, or read our guide further down on what you should keep in mind.
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Before settling down after university, Tonio, a Paris native, would like to spend time abroad. Hearing of the working holiday maker program he sees Australia as a good opportunity to learn how to surf and work at the same time.
The only concern Tonio has is continuing to pay his student loan while abroad. He does some research online to see how much it would cost to send $1,000 AUD to France monthly, and how many Euro (EUR) that would exchange to.
Bank | Money transfer company | |
|---|---|---|
Exchange rate | 1.00 AUD = 0.6881 EUR | 1.00 AUD = 0.71773 EUR |
Fee | 22 AUD | 3.99 AUD |
Amount for $1,000 AUD | 703.24 EUR | 717.73 EUR |
Transfer options | Bank transfer | Bank transfer |
Transfer time | Three to five business days | One to three business days |
Difference | + 14.49 EUR |
Tonio finds out that sending money through the money transfer service will his money to France quicker, and save him almost 15 EUR per month (over 170 EUR in a year).
There are a number of things to consider when transferring money from Australia to France as you can see from Tonio’s example. To ensure that you are getting the service you want at the best value look closely at the following:
With the Euro being a highly recognised currency, you are going to find a few options available when choosing a money transfer company:
Use our comparison table to find out what options you have when transferring money to France
Gift taxes are just one part of France's complicated inheritance laws, which are generally based on your relationship to the beneficiary of your gifts of cash or property. In France, children and spouses are considered equal "protected heirs", which limits how much you can legally give each.
It's possible for your French family to receive one-off gifts of cash tax free. These amounts range from $115,000 to children to about $35,000 to grandchildren and $18,000 to siblings.
Note that inheritance laws may not apply to remittances sent from another country. But given the complexity of these laws, which are deeply entrenched in legal requirements and exclusions, your loved ones will benefit from an expert in French laws when receiving large amounts of cash.
French citizens are required to submit a déclaration des revenues each year. If your recipient fails to declare a large remittance on their tax returns, they could be on the hook for stiff financial penalties equal to 5% or more of the remittance amount. If the government determines that they've wilfully ignored the law, tax penalties can soar to a severe 50% or more.
French banks are required to record the source of large transfers and report any suspicious deposits to the government. Encourage your family and friends in France to declare any large remittance on their general tax returns.
You won't have to report any amount of money you send to France. If the transfer is above $10,000, or it's classed as "suspicious", your bank or money transfer company automatically reports this to AUSTRAC (Australian Transaction Reports and Analysis Centre). This is the government agency set up to monitor financial transactions and to help prevent money laundering.
Find out more about sending money into Australia
DISCLAIMER: This article is general advice. It does not consider your own personal circumstances and may not be applicable to you. You should obtain professional advice and consider your own situation before acting on anything contained in our article.
France is one of the most visited countries in the world, including approximately 100,000 Australians annually. If you are travelling in France and are robbed of your cash, you have a few ways of replacing at least a portion of it for the rest of your trip:
La Banque Postale
9 Place De L’hotel De Ville
Paris, 75004
+33-825009898
Open Monday through Friday 8am to 6:30pm, Saturday 8am to 11:30am, Closed on Sunday.
4 Rue De Moussy
Paris, 75004
+33-825009898
Open Monday through Friday 8am to 7pm, Saturday 8am to 12pm, Sunday closed.
La Banque Postale
3 Rue Du President Edouard
Herriot
Lyon, 69001
+33-825-009898
OPen Monday through Friday 8am to 6:30pm, Saturday 8am to 11:30am, Sunday closed.
3 Rue De La Republique
Lyon, Lyon 69001
Phone. +33-4-78273545
Hours. Monday through Friday 9am to 6pm, Saturday 10am to 1pm, Sunday closed.
MGF Agence Paris – Sebastop
45 Boulevard De Sebastopol
Paris, 75001
+014-0289439
Open Monday through Saturday 9am to 7pm, Sunday closed.
22 Rue Saint Andre Des Arts
Paris, 75006
+331-46330808
Open seven days a week from 6am to 8pm.
Tabac Presse De La Bourse –Lyon
55 Rue De la Bourse
Lyon, 69002
+047-8371318
Open Monday through Saturday 8am to 2pm. Sunday closed.
31 Rue Romarin
Lyon, 69001
+095-4380240
Open seven days a week from 10am to 10pm.
If you are visiting France and need to travel to a cash pick up agency, call ahead to confirm their hours and to ensure that they have enough cash available. The Department of Foreign Affairs and Trade recommends that tourists practice normal safety precautions, but when picking up cash you should heighten your awareness of your surroundings and choose an agency in a well trafficked area.
Back to topIf using a money transfer service to send money to France from Australia the company you choose will dictate whether the transaction is completed online or at an agency. In either event you are going to need to following information:
A reference number will be given to you at the end of the transaction that you will need to give to your friend or family member in France. Make sure that you save that paperwork in the event of a dispute.
As the amount of young people coming to Australia to work and vacation from France continues to rise, the need for reliable means of transferring money will grow. By going over the choices you have carefully, you can find the company that stretches the Australian Dollar further in Euros.
