Sending money internationally during the coronavirus pandemic

Learn what you need to know about getting money abroad to loved ones during the COVID-19 pandemic.

Updated Mar 19, 2020

We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder.

Self-quarantining and social distancing are changing the way we send money across borders. Here's everything you need to know about what impacts the coronavirus might have on getting money to your loved ones.

The impact of the coronavirus on Australia

Although banks have not yet closed, Australia's borders have in order to stem the coronavirus pandemic on our shores. To learn more about how to deal with the changing landscape of banking, how to self-quarantine and more, read our comprehensive guide on the coronavirus in Australia.

What's in this guide?

How is the coronavirus affecting money transfers?
Online money transfer services
What if my recipient doesn't have a bank account?
How do fluctuating exchange rates affect my international transfer?
What other ways can I send money around the world?
Bottom line

How is the coronavirus affecting money transfers?

As Australia reacts to the coronavirus pandemic, the remittance industry is being affected by the following:

Closures. Non-essential businesses like bars and theatres are closing in many cities. Although banks and money transfer agent locations may remain open, using online transfer options will help you maintain your self-imposed quarantine.
Exchange rate volatility. We haven't seen this kind of volatility in decades. Fluctuating exchange rates could make a difference of several hundred dollars to what arrives in your receiver's pockets, so it's important to pay close attention to the live rate – things could change quickly. To keep on top of the two global currencies you're comparing, check out our guide on current exchange rates.
Customer service availability. Many companies will be reducing the availability of their customer service agents, both online and in call centres. OFX, for instance, recently alerted customers that "We are facing unprecedented events globally as countries around the world work to slow the advance of COVID-19. As a result, we're seeing very high volatility in global markets, including in currency markets. During this period of increased market volatility we are experiencing higher than usual call volumes and enquiries to our customer support team and encourage people to use our digital platforms," So if you happen to make a mistake in your online transaction and need to reach someone on the phone to fix it immediately, or need a human voice to help you through the online steps, don't expect the same support you'd normally receive.

Sending $1,000 from Australia to New Zealand during the coronavirus pandemic

Let's say you need to send $1,000 to friends or family members that are stuck quarantined abroad. Here is what you might face in fees and physical contact risks as of 19 March, 2020.

	Online money transfer service	Cash transfer	Bank transfer
Physical contact	No	Yes	Maybe
Fee	$6	$9	$6 ($30 if sending at a branch) + additional correspondent bank fees
Exchange rate	1 AUD = 1.010 NZD	1 AUD = 0.948 NZD	1 AUD = 0.9701 NZD
Transfer speed	Within 1 day	Minutes	1-3 days
Amount received	1,003 NZD	948 NZD	970 NZD
Verdict	Best value - no physical contact	Fastest but most expensive - physical contact	Slowest and likely to have highest fees - maybe physical contact

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient, but you may be able to send it entirely online. If you go with the digital money transfer service, your recipient ends up with NZD$33 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to New Zealand in as little as 15 minutes; just be aware of the need to pick it up in person.

Be sure to look at the margin on the exchange rate as well as the fees to figure out if you're getting a good deal. We've gone into more detail on this in our full guide on sending money internationally.

Online money transfer services

The table below shows a round-up of some of the most popular online services that can help you send money to where it needs to go.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
AUD 2,000	1 day	AUD 0.00	0.703	USD 3,513	TorFX guarantees to match any competitor's exchange rate. Conditions apply. Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.703	USD 3,513	SendFX guarantees to match any competitor's exchange rate. T&Cs apply. Fee-free transfers in 30+ currencies to over 200 countries.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KWD, MXN, MYR, NOK, NZD, OMR, PHP, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.703	USD 3,513	Better exchange rates for Finder customers. Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CLP, CNY, COP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, LKR, MAD, MUR, MXN, MYR, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, TZS, UGX, USD, VND, XCD, ZAR Go to site Read the full review
AUD 250	1 - 2 days	AUD 15.00	0.703	USD 3,502	$0 transfer fees for Finder customers. No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
GBP 3,000	1 day	-	-		Global Reach will match any competitor's exchange rates. Conditions apply. Get no fees for both business and personal transfers when you send your money overseas with Global Reach.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 3,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email, Branch Available currencies AED, AUD, BBD, BGN, BHD, BSD, CAD, CHF, CZK, DKK, EUR, GBP, GHS, HKD, HRK, HUF, ILS, JPY, KES, KWD, KYD, MUR, MXN, NOK, NZD, PLN, RON, RUB, SDG, SEK, THB, TRY, UGX, USD, XCD, ZAR Go to site Read the full review
AUD 1	1 day	N/A	N/A	N/A	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, EUR, GBP Go to site Read the full review
AUD 1	1 day	AUD 26.00	0.705	USD 3,508	Pay no fees on your first two transfers, up to $3,000. SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, CAD, EUR, GBP, HKD, IDR, INR, JPY, KRW, LKR, MYR, NPR, NZD, PHP, SGD, THB, USD, VND, ZAR Go to site Read the full review
AUD 0	Same day	AUD 2.99	0.698	USD 3,486	Special offers like free transfers and better exchange rates available for new customers. Affordable transfers around the world with both express and economy options. Express transfers delievered in as little as 10 minutes for an extra fee.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, AUD, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NGN, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
AUD 1	Same day	AUD 0.00	0.702	USD 3,509	Get fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments, Market orders Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, ILS, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
AUD 200	1 - 2 days	AUD 25.00	0.705	USD 3,508	Exclusive: Use code FINDER10 to receive US$10 off your first transaction. Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 200.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
AUD 5	1 - 2 days	EUR 3.00	0.698	USD 3,490	Special offer: Zero fees on your first 10 transfers. Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 5.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR Go to site Read the full review
AUD 1	Same day	AUD 3.99	0.697	USD 3,482	Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What if my recipient doesn't have a bank account?

Depending on the provider, you can still make an online transfer to a recipient who doesn't have a bank account.

Emergency cash transfers

If you need to get money abroad now instead of later, there are ways to speed it up. Many online money transfer services offer delivery in as fast as a few minutes. Learn more about the limits and fees for emergency transfers.

Many emergency transfer options require your recipient to pick the money up in person, as delivering to a bank account often takes more time. Double-check how the transfer will be received, especially if you are sending to a country that is recommending self-quarantine or social distancing practices during the coronavirus pandemic.

According to a recent report in Reuters, handling banknotes doesn't pose any added risk of contracting the coronavirus. Your recipient shouldn't fear collecting cash so long as they take the usual precautions and wash their hands frequently.

How to send money to someone without a bank account

Unfortunately, options without physical contact are limited when it comes to sending money to someone without a bank account.

If you or your recipient doesn'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.

Call the agent location before sending your transfer, if possible, to make sure they will be open when your recipient goes to pick up cash.

How do fluctuating exchange rates affect my international transfer?

No one has a crystal ball here, so it's important to keep an eye on exchange rates regularly. That will help you gauge when it's a good time for you to send money abroad. Online transfers can often lock in a rate for you, which, with roller-coaster markets, could potentially help you get more bang for your buck.

To see how the Australian dollar is performing globally, use our A to Z list of AUD exchange rates against other currencies.

Updated: 28 Oct 2020 17:45:18 UTC

What other ways can I send money around the world?

Aside from traditional money transfers and bank transfers, there are other alternatives you can use to help move money during the coronavirus pandemic.

International digital banking. Although it may take some time to set up, creating an international digital bank account can help reduce the costs of moving money to loved ones abroad. Read our short guide on digital banking to get started.
E-wallets. Electronic wallets are a great way to manage your funds digitally. Apple Pay, Google Pay and Samsung Pay are very popular options. By relying entirely on digital services, you won't have to touch cash or interact physically with anyone. Many stores accept e-wallets for payment, making your transaction entirely contactless.
Cryptocurrencies. If you and the recipient are both computer savvy, cryptocurrency can be a very fast and cheap way of sending money internationally, in a way that doesn't require either of you to have a bank account or leave your homes. If you're interested, our comprehensive guide over at Crypto Finder can get you started.

Bottom line

Sending money internationally may be more important for you now than ever, especially if you have loved ones quarantined abroad. Although it's become trickier to send money overseas, there are still plenty of online options that can help you get your money where it needs to go.

Pay extra attention to movements in the exchange rate, and compare a number of money transfer services to make sure they meet your needs and can give you the best deal.

Need to save some quick cash?

If you're struggling to keep up with your finances - you're not alone. You can save plenty of cash by doing some simple admin with your bills and expenses. Maybe switching credit cards or downgrading your mobile phone plan could save some money.

Managing your daily finances can help you get through this difficult time - You'll be glad you did it.

Picture: GettyImages

Thank you for your feedback!

Zak Killermann

Zak Killermann is a staff writer at Finder specialising in money transfers. He has ghostwritten hundreds of FinTech articles over the years and found his love for publication at St. Cloud State University. Zak has been travelling internationally for nearly half his life and — after getting burned once by an over-the-counter money exchange — vowed to never settle for anything short of the mid-market rate.

Coronavirus: What you need to know about life insurance Coronavirus: Help if you have a small business

More guides on Finder

Coronavirus: Common scams to watch out for
Details on the most common scams to avoid during the coronavirus health crisis, plus tips for keeping your information safe online.
Investing in the era of COVID-19
Finder speaks with investment experts from around the world about what investing looks like in a post-COVID-19 world.
How do we pick the top money transfer services?
Our top picks are our selection of the best money transfer services, based on our extensive research and market experience. Here's how we choose them.
Coronavirus: How to lodge your tax return this year
Learn about the extra tax deductions you can claim due to COVID-19 and how to properly declare your JobSeeker, JobKeeper or redundancy payments.
Podcast: Curveballs – how to stay resilient when the going gets tough
In this episode of Pocket Money, we talk about how to cope when life goes wrong, financially, emotionally or physically. From coronavirus to cancer, how can you learn to bounce back quicker and in better shape than ever?
Managing your finances during the coronavirus outbreak
Learn how to manage your finances and protect yourself during the coronavirus pandemic.
Safeguarding your credit score during the coronavirus outbreak
Answers to questions about how Coronavirus-related events could affect your credit score and how to protect it.
Podcast: How will the coronavirus pandemic affect our finances?
A straight-chat conversation about how the coronavirus lockdowns will impact the economy and our personal finances.
Travelling during coronavirus? Here’s what you need to know [Updated]
Your options for travel explained.
How coronavirus is changing the way we transfer money overseas
Retail outlets are shuttering but online transfer volumes rise.

Ask an Expert

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Subscribe to the Finder newsletter for the latest money tips and tricks

Notify me via email when there is a reply

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Get the Finder app 🥳 A better score could get you a better deal 🥳

Be money smart and pay a 0% balance transfer rate on your credit card.

Find a better personal loan deal

Find a better home loan

Want $0 monthly fees on your bank account?

Discover the top share trading platforms.

Discover top performing superannuation funds.

Sending money overseas?

Planning to travel soon? Check out one of our travel money location guides

How much will it cost? Calculate your home loan repayments

Coronavirus

Sending money internationally during the coronavirus pandemic