same currency transfers

Stop worrying about exchange rates with same currency transfers

Your complete guide to same currency transfers.

Whether you’re transferring funds to someone in Australia or sending money overseas, conducting a same currency transfer is easier than ever before. There are plenty of reasons why someone may wish to conduct a same currency transfer. For example, you may be travelling overseas and may wish to send some of your Australian dollars to a relative back home, or you may be on a European holiday and want to transfer funds from one euro zone country to another.

Whatever the case may be, it’s simple and straightforward to lodge a same currency transfer.

Rates last updated July 21st, 2018
$
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Monthly Account Fee
HSBC Everyday Global Account
No foreign ATM or transaction fees. $0 monthly account fee. Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies.
0.05% 0.00% $0 $0 / $0 Go to site More
HSBC Foreign Currency Flexi Saver Account USD
Save in multiple currencies with flexible access. USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, CNY and CHF
0.01% 0.01% 0.00% $0 $0 / $0 More
Citi Global Currency Account
Hold up to 10 currencies in this account with one linked debit card, and receive foreign currencies for free.
2.25% 2.25% 0.00% $8 $250,000 / $0 More

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Rates last updated July 21st, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
Forward contracts and order types available

Receive currency analysis by market professionals, free transfers and competitive exchange rates
OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
$0 transfer fees for Finder customers.
Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone
Forward contracts and spot contracts available

View live rates, graphs and economic commentary. eCommerce-tailored solutions.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange will match any competitor's exchange rates. Conditions apply.

No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
XE International Money Transfers
AUD 0
1 day
Online, Phone, Bank Account to Bank Account
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators, while benefiting from $0 transfer fees.
ANZ International Money Transfer
AUD 0
1 - 2 days
Online, Phone, Bank Account to Bank Account
Transfer to over 99 countries via online banking, phone banking or through an ANZ Bank branch. Rate last updated on 25/06/2018 at 1:20 pm. Find out how we calculate this exchange rate.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
HiFX business services are designed to save you time and money.
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.

Compare up to 4 providers

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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
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

How does a same currency transfer work?

You can use a same currency transfer for a number of different purposes. You may need to submit payment for goods you have purchased or send an emergency transfer to a relative in another country.

The main benefit of sending funds in the same currency is that you won't have to worry about foreign exchange rates or currency conversion fees. Although transfer fees will still apply, this overall reduction in fees can help you save a lot of money.

There are plenty of options to choose from when planning a same currency transfer, including online money transfer companies, banks and even PayPal.

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How do I compare same currency transfers?

  • Fees. Perhaps the most important feature you should consider when choosing a same currency transfer provider is the fee you will be charged. Some providers charge a flat fee, while others charge a fee as a percentage of your transaction amount. A few providers will waive their fee altogether when you send more than a certain amount.
  • Transfer methods. Compare the available methods for lodging a transfer. Is it all handled online or do you need to visit a branch to send your funds?
  • Transfer time. How long will it take for the funds to arrive to your recipient? This is especially important if you are sending an emergency transfer.
  • Pickup options. Some companies will only offer transfers direct to someone else’s bank account or provider account; others make it possible for the cash you send to be picked up in person from an agent location.
  • Customer service. Weigh the pros and cons of the customer service options offered by different providers. It’s important that a company be able to offer assistance whenever you need it, so look for features such as online help centres, live chat and 24-hour call centres.
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What are the pros and cons of same currency transfers?

Pros

  • No need to worry about exchange rates. Because there is no need to convert the currency you send, you don’t need to worry about finding a good deal on foreign exchange rates.
  • Plenty of options. Thanks to the Internet and a range of other modern technologies, you have plenty of options to choose from when deciding how to send a same currency transfer.
  • Convenient. There is no hassle when sending a same currency transfer. If you wish, you can conduct the entire transaction quickly and easily online.

Cons

  • Fees. You might have to pay a fee when you send a same currency transfer, although this depends on the service you go with.
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What are the risks of this type of transfer?

  • Not being aware of the fees. As with any financial transaction, it’s important to make yourself aware of any fees that may apply before you lodge a same currency transfer. This will ensure that you don’t end up with a nasty surprise that leaves you out of pocket.
  • Dodgy providers. There’s always a risk, albeit minimal, when you use online money transfer providers. Make sure you use a trusted and reputable company to avoid being a victim of fraud.
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Your most common questions about same currency transfers answered!

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantee to match 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.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers. Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

WorldFirst International Money Transfers

Access live rates, currency converter and market updates via the WorldFirst Money Transfer mobile app. No transfer fees for personal or business customers.

FC Exchange International Money Transfers

FC Exchange will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

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4 Responses

  1. Default Gravatar
    yukoAugust 4, 2015

    Hi,

    I have some cash in Japanese yen in Australia. If I open multi currency account in HSBC (and deposit the cash in JPY), then is that able to transfer the JPY to other Australian bank (let’s say, westpac, national bank etc…) account by JPY?

    I am thinking to use Australian FX company to convert the cash with better rate.

    If is that available, what is the actual multi currency account fees and transfer cost in HSBC?? can you advise me?

    thanks

    • finder Customer Care
      BelindaAugust 5, 2015Staff

      Hi Yuko,

      Thanks for your enquiry.

      Please note that finder.com.au is an online comparison service and we don’t represent HSBC.

      If you’d like to read more about the HSBC multi currency account and their fees you can visit this page.

      It may be possible for you to transfer the JPY to an external account through an online transfer. The local transfer online is free if the transaction is done as a telegraphic transfer, otherwise you will be charged a $20 fee + other bank fees + 0.25 currency conversion, or a $200 maximum fee.

      However, cash deposits are only accepted in USD, HK and GBP with this account.

      You can find a complete list of their product fees on their website.

      Thanks,
      Belinda

  2. Default Gravatar
    mrJune 15, 2015

    is it easier to open a new account in Australia which we now reside in and then transfer our savings to that account from the uk .? Or transfer it to our bank we now use in australia ??? 2 the Atm cards we hold are still active expire-date is 12/49 ?

    • finder Customer Care
      BelindaJune 16, 2015Staff

      Hi Mr Clement,

      Thanks for your enquiry.

      You’ve come through to finder.com.au which is an online comparison service, so please note that we don’t offer products ourselves.

      Deciding on how to manage your funds will depend on the conditions offered by your lender so I would suggest that you speak to them directly.

      Thanks,
      Belinda

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