Wise (TransferWise)

- Fair service fees and mid-market rates – a major market differentiator
- Next-day delivery for most currencies
- Easy-to-use app
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While your local bank branch might be the most obvious option for sending money across borders, you can save on fees and take advantage of more competitive exchange rates with an online money transfer company.
Top pick for
Large transfers
Top pick for
Small transfers
Top pick for
Fast transfers & cash transfers
Sign up and send money with a digital money transfer specialist in four steps:
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the US. Some offer transfers straight to US bank accounts, while others allow the money to be picked up in US dollars in person. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times.
Companies like OFX and TorFX specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient's US-based bank account, often in as little as a day or two.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in the US — 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, compare MoneyGram to digital services like WorldRemit when possible.
US dollars are almost certainly carried by your bank. Although your local bank can convert your currency into US dollars, beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let's say you need to send $2,000 from Australia to the US. Here's what you might face as far as fees and exchange rates as of April 1, 2020.
Digital money transfer service | Cash transfer | Bank transfer | |
---|---|---|---|
Fee | $3.99 | $30 | $24 + additional correspondent bank fees |
Exchange rate | 1 AUD = 0.60 USD | 1 AUD = 0.58 USD | 1 AUD = 0.57 USD |
Transfer speed | 1-3 days | Minutes | 2-4 days |
Amount received | US$1,200 | US$1,160 | US$1,140 |
Verdict |
|
|
|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient, while the digital money transfer service is the best value. If you go with the cash transfer service, your recipient ends up with US$20 more than the bank offers and it arrives within minutes.
Today's exchange rate AUD to USD
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to the US to meet your needs:
When it's more important to get your money to the US 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.
Cash transfer services can help you if you're unbanked or marginally banked. 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.
To send money to the US from abroad, you'll need government-issued ID and other documents, while documents needed to pick up money in the US may be different by company.
To send money from the abroad to the US, you'll need documentation and details that include:
To pick up money in person, documentation can include:
Most money transfers to the United States may be subject to taxes, depending on their amount and place of origin. Unfortunately there are a lot of variables in play, but typically it is always better to report large money transfers to the IRS on your tax forms.
There are a variety of reasons you may be sending money to the US, including repatriating funds you earned abroad. Being extra vigilant about the reasons you're sending money to the US can save you large fees and possible jail time in the future by paying the appropriate taxes now.
Learn more about using the United States dollar in the USA
Sending your hard-earned money to the US shouldn't cost a fortune. Compare transfer companies that specialise in foreign for the strongest rates, lowest fees and flexible delivery.
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What’s the cheapest and fastest way that my family can send money from Melbourne to California? Please give me the most trusted site.
Hello Marie,
Thank you for your comment.
If you’re looking for a fast money transfer to the U.S.A, you may want to check our list of same-day money transfer providers. You can see two popular money transfer companies that will let you transfer money to the U.S. within the day.
You can also check our guide on how to send money to the USA to compare other services and to know the steps on how to send money to the USA online.
I hope this helps.
Regards,
Jhezelyn
I have actual US dollars(hard currency) that I want to send to someone in the USA. Thus, I don’t need to change Australian dollars into US dollars. Does any company allow this, noting that they usually probably make their profit from the exchange rate.
Hi Darrel,
Thank you for your inquiry.
While there are services on this page that allow USD to USD transfers, they implement an exchange rate which you can compare or the amount received on the table.
Another factor to consider is the transfer fee which can reduce the value of the amount transferred.
You may opt to reach out to the services directly if you have any further concerns.
I hope this helps.
Best,
Maria
I compared options a few weeks ago and Sable came up as the best option.
Now it is not coming up at all – why is this?
Hi Naomi,
Sorry to hear about the issue you’re having.
If you have seen Sable on our table but now it isn’t there, it could be that they are not anymore one of our featured provider. However, you can always read our Sable review page to still learn more about them. if you wish to use their service, please go to their website directly.
I hope this helps.
Cheers,
Danielle
If I send money to China by using citibank plus account, how much total cost would expect?Citibank doesn’t charge but receiving bank or intermediary bank charge for the service. Say, Today I send money US$1000 to Bank of China. How much I have to send AU$ to receiver side to get US1000?
Hi Wolfgang,
Thank you for reaching out.
Please visit our guide to sending money to China from Australia to find more information including fees and exchange rates for multiple money transfer services.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you initiate a money transfer.
Regards,
Jodie