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Australia and Luxembourg share a healthy bilateral relationship. Ties between these two nations focus primarily on multilateral issues in the UN Security Council, the World Trade Organisation as well as international disarmament negotiations. Bilateral agreements between the two nations cover aspects such as cooperation in issuing visas, criminal matters and extradition.
In 2013, Luxembourg's investment in Australia stood at around AUD15.5 billion, whereas Australia’s investment in Luxembourg was about AUD16.8 billion. Value of the total merchandise traded in the same year was around AUD47.6 million. Key imports from Luxembourg include rubber tyres, tubes and treads. TorFX guarantees to match any competitor's exchange rate. Conditions apply.International Money Transfer Offer
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Instances of people wanting to send money from Australia to Luxembourg are not uncommon. Here’s the help you need in picking the right option.
David Schmit first visited Australia as a teenager. Ever since, he wished to relocate to this country. Now that he’s here and has a steady job, he wants to send some money back home, to his mother who lives alone. He plans to send around $1,000 every month.
He has a bank account with a leading financial institution in Australia. While he can use its services to send money to Luxembourg, he thinks he might be able to get a better deal. He goes online to compare his options. This is what he finds.
| Australian bank | Money transfer service 2 | |
|---|---|---|
| Exchange rate | AUD1 = EUR0.6053 | AUD1 = EUR0.6366 |
| Transfer fee | $20 | $0 |
| Amount received for $1,000 | EUR593.19 | EUR636.60 |
| Transfer time | Two to five days | One day |
| Transfer options | Bank account | Bank account |
| Difference of | EUR43.41 |
When compared to his bank, the money transfer company resulted in a more profitable transfer. Besides, if also got the money to his mother sooner. David, choosing to go with the money transfer company, as a result, comes as no surprise.
While money transfer companies tend to rate better than banks in the field of international fund transfers, not all are equally good. When comparing your options, pay attention to these factors:
You can send money from Australia to Luxembourg using different methods, through banks or non banking institutions:
Getting money from Luxembourg to Australia is not difficult. Your options include:
Losing your wallet or money in a foreign land can be daunting. If this happens when you’re visiting Luxembourg, make sure you cancel your debit and credit cards as soon as you can. You can then think about getting some emergency money in these ways:
Western Union and MoneyGram have several locations spread across Luxembourg. When you’re going to collect cash from any such location take the reference number with you. You’ll also need to provide an acceptable form of ID such as your passport or driver’s license. If the transfer involves a large sum, you may want to call ahead of time to check for availability of funds. Here are some cash pickup locations in Luxembourg:
Most visits by foreign nations to Luxembourg remain trouble free. However, scam artists can target foreign visitors and local residents alike, leading to considerable financial loss. There has been an increase in reports of burglaries by people who’ve moved into the countryside. Crimes in these regions tend to take place around holiday periods.
There have been instances of pickpocketing, especially at the main bus and train stations. Thefts and pickpocketing take place in hotel lobbies, especially in the Findel area. It is in your best interest to keep your bags within sight at all times. Avoid displaying expensive items.
Back to topThe steps involved in sending money to Luxembourg can vary depending on the method you select:
