Using an international money transfer means a better exchange rate and lower fees.
An international money transfer service are the middle men when it comes to sending money overseas. You open an account with a money transfer service, deposit funds into the account from your everyday bank account, provide the money transfer service with the details of your recipient and the money transfer service will do the rest.
A money transfer service will get you a better exchange rate than the banks, and usually charge much lower fees. Our infographic on this page outlines the process. TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
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This is why you should choose a money transfer service over your bank
Heidi just moved from Almere to Brisbane with her husband and her twin daughters. Her extended family still lives in the Netherlands, and they often send cash gifts for the little girls. Heidi is always on the lookout for cheaper, quicker ways to send money between the Netherlands and Australia.
|Bank transfer service||Dedicated money transfer service (online)|
|Exchange rate||$1 = €0.63||$1 = €0.63|
|Transfer fee||$22 (via bank's app)||$0|
|Amount received for $500||€301.14||€315|
|Transfer time||Within 3 business days||1 to 3 business days|
|Transfer options||Online transfer to bank account||Bank transfer|
Heidi saves $13.86 because she took the time to compare two online transfer services. While the turnaround time and exchange rate are the same, there’s a $22 difference in the service fee levied.
How to compare money transfer services
Ask yourself these following questions:
- What exchange rate am I getting? You want to find a service that will transfer your money at the most competitive exchange rate and charge minimal - or zero - transfer fees. Some transfer services offer lower or waived fees for bigger amounts while still maintaining a competitive exchange rate.
- Does the pick up method suit my recipient? Money can be delivered via courier, collected in person at an agency or deposited directly into the recipient’s account.
- Does the transfer method suit me? You can transfer money online, between bank accounts or via a direct cash deposit at the transfer service’s agency. Choose a method that suits both you and the recipient.
- What fees are being charged? Some services charge a flat rate irrespective of the amount, while others vary the fee according to how much you send.
- What's the turnaround time for the money transfer? Delivery time can be anywhere between an hour and three to five days.
- What's the minimum transfer amount? Most transfer services start with minimum amounts of between $1 and $10. In some cases, fees are charged for amount brackets (for example, a $4 fee for between $1 and $200).
- Does the customer service team take care of me? It’s important that the service has effective and competent customer service.
How do I send money to the Netherlands from Australia?
You can send money to the Netherlands in the following ways:
- Bank to bank. Send money between bank accounts with an IBAN (International Bank Account Number) or a SWIFT (Society for Worldwide Interbank Financial Telecommunication) code.
- Money transfer services. While some Australian banks offer online transfers to the Netherlands, money transfer services facilitate different types of transfers. You can send money online, make a cash-to-cash transfer, or send money online to cash or delivery.
- Cash transfers. Most money transfer services allow cash pick-ups at their agencies. The charges might be slightly higher than other transfer methods, so be sure to compare fees and delivery delays.
How do I receive money from the Netherlands in Australia?
There are several quick, easy ways to send money to Australia from the Netherlands. Here are a few to consider:
- Western Union. Send money online into the recipient’s account or for the recipient to collect in person at an agency.
- OzForex. If you’re transferring a minimum of $1,000, OzForex will send your money via BPAY or electronic funds transfer.
- WorldFirst. Send your money online to the agency and they will send it to the recipient’s bank account.
Emergency cash transfers in the Netherlands
If you’re in a tight spot and need money sent to the Netherlands in a hurry, there are a few transfer methods that guarantee quick - sometimes instant - delivery.
- Bank transfers. The quickest way to get money into your account is via a bank transfer. The process itself can be completed in 10 minutes and the money lands in your account on the same day - sometimes just an hour later.
- Cash pick-ups. Collect your money from the money transfer service’s local agency. This way you can collect cash in person within minutes of it being sent.
Western Union and MoneyGram branches in the Netherlands
Below are a few pick-up locations for money sent via Western Union and MoneyGram.
- Aboudi Korte
Leidsedwarsstraat 74 Links Amsterdam,
North Holland 1017RD
Open Monday to Sunday 10am to 10pm
- GWK Travellex
Leidseplein 31a Amsterdam,
Open Monday to Sunday 10:15am to 5:45pm
- SSS Mobile
Jonker Fransstraat 88a Rotterdam,
South Holland 3031AX
Open Monday to Saturday 8:30 am to 6pm, Sunday 12pm to 5pm
- C and Go Shop
Zuid Holland 3031AN
Open Monday to Saturday 8am to 6pm, Sunday 10am to 5pm
- Sunro Change BV
Amsterdam, 1012 LH
+31 20 4270260
Open Monday to Sunday 8:20am to 10:15pm
- Kaah Express
Rotterdam, 3074 EH
+31 10 4861555
Open Monday to Saturday 10am to 6pm
- MoneyGram Agent Shop
Rotterdam, 3013 AM
Open Monday to 8:45am to 7:30pm
Tips for picking up cash in the Netherlands
The Department of Foreign Affairs and Trade advises a normal level of safety precautions while in the Netherlands. While crime is relatively low, there is a heightened threat of terrorism. If you’re going to collect cash at a money transfer agency, try and take someone with you. Be sure to get there during office hours, so you don’t have to wait around by yourself until they open.
What are the steps to send money to the Netherlands?
Depending on the service you choose, you’ll need to provide some or all of the following information:
- Your email address
- The recipient’s name, address and bank account details
- The amount you’d like to send
The bank or transfer service will send you a confirmation email or give you a receipt if you’ve made the transfer in person.
Thanks to a variety of money-transfer agencies facilitating international transfers to the Netherlands, you have several options at your disposal.