Send money between Australia and the UK cheaply

Compare your options when sending money between Australia and the UK.

In this guide, we compare a variety of different methods for sending money between Australia and the UK, helping you find the best value when transferring funds overseas. By using a dedicated online transfer service instead of sending the funds through your bank, you can save money on the cost of your transfer.

If you need to send money between Australia and the UK with a specialist online transfer company, all you have to do is follow three simple steps:

  1. Start your transfer. You'll need to specifythe amount of money you want to send, the details of the account the funds will be paid into, and nominate a payment method.
  2. Secure an exchange rate. Review the exchange rate and fee that will determine the total cost of your transaction.
  3. Send your funds. The money will be transferred to your recipient's account in Australia or the UK.

Compare money transfer options between Australia and the UK

Use the table below to compare transfer options between Australia and the UK. Sort through products using the headings at the top of the table, and if you'd like to find out more about a product or register an account, click the "More" or "Go to Site" buttons respectively.

Rates last updated December 16th, 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
Transfer amounts over $250 in as little as two days and schedule regular transfers with one of the most competitive rates.
Exclusive: WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone
A UK-based foreign exchange company, you can transfer money into a range of currencies online and over the phone.
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. Transfer money between 20 currencies with no commissions and you can fix your exchange rate for up to 6 months.
Compass Global Markets International Money Transfers
AUD 1,000
1 day
Online, Phone
Send money overseas in at least 140 currencies.
Foremost Currency Group International Money Transfers
GBP 2,500
2 days
Online, Phone, Bank Account to Bank Account
Make the most of your money with Foremost Currency Group - excellent personalised service and bank-beating rates.
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.

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The offers compared on this page are chosen from a range of products finder.com.au has access to and are not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms "best" and "top" are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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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
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  • Risk management
  • Forecasting
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Banks vs money transfer companies

When you need to send money overseas, using your bank might seem like the logical choice. You can send funds from your everyday transaction account, making it incredibly convenient, and you also get the peace of mind of dealing with a financial institution you trust.

However, sending international money transfers via your bank is a mistake for two reasons:

  • Low exchange rates. Banks impose a hefty margin on top of the foreign currency they sell, which means you receive an exchange rate that's well below the mid-market rate.
  • High fees. Most banks impose large transaction fees of around AUD$15 or more on international transfers.

If you're looking for better value for money, you can often find it from a dedicated online money transfer company. These providers specialise in international transfers and usually offer much better exchange rates and lower fees than the banks. This means you can enjoy substantial savings when sending money between Australia and the UK.

Karen sends money to the UK

Let's pretend Karen, a teacher in the UK, has been offered a position at a prestigious Australian school. Since she will be returning home on holidays, she would like to be able to maintain her London flat while away. In order to do this, she knows she will need to send money to make her monthly mortgage repayments as well as pay for utilities and maintenance. She decides first to find out if it would be easier and cheaper to do this with a bank or a money transfer company.

As you can see in the table below, Karen can send an extra GBP£30.40 simply by using the money transfer service instead of her bank. She can also save AUD$15 in transfer fees and enjoy a faster processing time, all of which makes the dedicated transfer service a much better choice for Karen.

Australian bankMoney transfer service
Exchange rate1 AUD = 0.5272 GBP1 AUD = 0.5576 GBP
Transfer feeAUD$22AUD$7
Amount of GBP received for AUD$1,000GBP£527.20GBP£557.60
OptionsBank-to-bank transferBank-to-bank transfer
Time for transfer to complete2-4 daysUp to 2 days

*This is a fictional case study and the rates and fees quoted are correct as of December 2017. Always seek a quote for current rates and fees.

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How to compare transfer companies when sending money between Australia and the UK

Make sure to consider the following factors when searching for the best money transfer company to help you send funds between Australia and the UK:

  • Exchange rate. Even a small difference in exchange rates can have a huge impact on the total cost of a transfer, so compare AUD/GBP and GBP/AUD exchange rates across several providers. Make sure that any rate a company quotes you is the rate you will actually receive on your transfer, and not merely the current interbank rate provided as a guide.
  • Fees. Fees vary from one transfer provider to the next and can also make a big difference to the overall cost of a transaction. Some companies charge flat fees while others charge their fees as a percentage of the total transaction amount. Some companies will also waive their fees on large transfers, helping you save even more when sending money between Australia and the UK.
  • Transfer options. Can you use forward contracts or limit orders to secure the exchange rate you want for your transaction? Is there a regular payments option if you need to send money between Australia and the UK on a recurring basis?
  • Turnaround time. If you need to send funds between Australia and the UK as quickly as possible, check to see how long each provider takes to process a transfer from start to finish.
  • Pickup options. Does the company offer bank deposits only, or can you also send cash for your recipient to collect in person if required?
  • Currencies available. Make sure any provider you choose allows you to transfer funds in AUD, GBP and any other currency you may want to send overseas.
  • Customer service. Transferring money overseas does carry some risk. Make sure you can always get in touch with the company as quickly as possible if you ever need help with a transaction.
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How to send money between Australia and the UK

There are several options to choose from when you need to send money between Australia and the UK:

  • Money transfer services. Online money transfer providers offer competitive exchange rates, minimal transaction fees and access to a wide range of currencies. Many providers also offer flexible options such as forward contracts and limit orders to help you find better value for money.
  • Banks. You can send international transfers direct from your regular bank account, but you'll need to be willing to accept a lower exchange rate and higher transfer fees. You may also want to consider using a multinational bank that offers accounts specifically designed for international transfers, such as the Citibank Plus Account and the HSBC Multi-Currency Account.
  • Cash transfer companies. Western Union and MoneyGram operate extensive international money transfer networks, allowing you to send funds between Australia and the UK within minutes. The money you send is then available for your recipient to collect as cash from their nearest cash pickup location.
  • PayPal. If you and your overseas recipient both have PayPal accounts, you can send fast and convenient transfers between Australia and the UK using those accounts. You'll need to link a bank account or credit card to your PayPal account to pay for the transaction, and be aware that the transfer fee is calculated as a percentage of your transaction amount. The fee also varies depending on whether or not you use a credit card to pay for your transfer, so it's essential to check the total cost of a transfer before using PayPal to move money between Australia and the UK.
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Emergency cash transfers

Regardless of whether you're an Australian tourist in the UK or vice versa, anything can happen when travelling overseas and you could find yourself in sudden need of cash. If your wallet or bag has been stolen, you should first report it to the local police and obtain a police report. Then look into the following choices for getting a fast cash replacement:

  • Your bank account. Many banks have emergency services to get you cash and a replacement card if you happen to lose your card or have your wallet stolen while overseas.
  • Cash transfer company. If you still have photo ID, you'll be able to pick up a cash transfer sent to you by a friend or relative.
  • Travel insurance. Many travel insurance policies offer a cash solution if your wallet or purse is stolen while travelling. Make sure you keep the police report to submit to the insurer.
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Cash pickup locations in the UK

Western Union and MoneyGram offer myriad cash pickup locations throughout the UK. Before going to pick up a transfer, it's worth phoning ahead to confirm a store's location and opening hours. You should also make sure you remember to take your photo ID and the transaction reference number.

Western Union

London

  • Newspoint
    Unit Su0062a 74 The Arcade
    Stratford City
    London, E20 1 EH
    Phone: +44-0800833833
    Open Monday through Saturday 10am to 9pm and Sunday 10am to 6pm.
  • Internet City LTD
    11 Charing Cross Road
    London, WC2H OEP
    Phone: +02-079-308390
    Open 7 days a week from 8am to 10pm.

Cambridge

  • Eurochange Cambridge
    44a Lion Yard Shopping Centre
    Cambridge, Cambridgeshire CB2 3NA
    Phone: +44-2078-284953
    Open Monday, Tuesday, Thursday and Friday 9am to 5:30pm; Wednesday 9am to 8pm; Saturday 9am to 6pm and Sunday 11am to 5pm.
  • Thomson
    28 Fitzroy Street
    Cambridge, CB1 1EW
    Phone: +44-800-833833
    Open Monday through Saturday 9am to 5:30pm and Sunday 11am to 5pm.

MoneyGram

London

  • Post Office Trafalgar Square
    28 Trafalgar Square Post Office
    24-28 William IV Street
    London, WC2N 4DL
    Open Monday through Friday 8:30am to 6:30pm; Saturday 9 am to 5:30 pm. Sunday closed.
  • MoneyCorp
    #Unit 003 Piccadilly Circus18 Piccadilly
    London, W1J 0DF
    Open Monday through Saturday 8am to 11pm; Sunday 9am to 11:30pm.

Cambridge

  • Thomas Cook Cambridge
    8 St. Andrews Street
    Cambridge, CB2 3 AX
    Open Monday through Saturday 9am to 5:30pm; Sunday 10:30am to 4:30pm.
  • Kings News
    11 King Street
    Cambridge, CB1 1LH
    Open Monday through Saturday 6am to 9pm; Sunday 7am to 8pm.
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Tips for picking up cash in the UK

Although the Australian Department of Foreign Affairs and Trade lists the UK as a destination where no more than normal safety precautions need to be taken, you should always take simple steps to stay safe when picking up cash. Have a trusted friend accompany you to the agency and never overtly display your cash in public. Never carry a large sum of money for any longer than necessary and deposit the cash somewhere safe as soon as you can.

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How to send money between Australia and the UK

If you want to send money between Australia and the UK using a cash transfer service, you'll need the following information:

  • Recipient name. The recipient name you give to the cash transfer company must be exactly the same as it appears on the recipient's photo ID.
  • Transfer amount. The person who is picking up the money will be asked how much has been sent as a security measure.
  • Tracking number. Your recipient will also have to provide a tracking number or transaction reference number.
  • Your details. For further security, they may be asked for your name and contact information.

There are many options available when you need to send money between Australia and the UK, so make sure you compare a range of providers to find the most convenient and affordable transfer provider.

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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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