You need to compare the cost of sending your money to Australia to find the best deal.
Most transfer companies do not show you any exchange rates until you complete an online form and get a quote. This comparison shows which companies offer quotes.
How many quotes should you get?
Get quotes from as many international money transfer companies as possible to help you find the best deal when sending money to Australia.
Each quote will include the following:
The amount you want to transfer
The exchange rate you get for transferring
Any costs for transferring
The amount of money you want to transfer can have an affect on the exchange rate.
For example, most companies offer you a better rate if you transfer more than a set amount of money, such as £5,000 or more.
How much can you send?
There is usually not a limit to how much you can send through an international money transfer service, but some companies set a minimum amount, such as £100.
If you want to make several transfers to the same account within a short period of time, think about merging the transfers into one.
Doing this could mean you get a better exchange rate and pay less charges, as you will be sending a larger transfer compared to several smaller transfers.
Why use an international money transfer?
Using this type of transfer is often cheaper than sending money through your bank.
You could use an international money transfer to:
Buy a property in Australia
Send money to a family member living in Australia
Pay for your child's education in Australia
Money transfer to Australia FAQs
How long does an international money transfer to Australia take?
Most take three to five working days, although they can take up to two weeks. Check with the transfer company before you send your money.
Can I transfer money to Australia through my bank?
Yes, most banks offer a transfer service, but it is usually more expensive than using the companies in this comparison. Find out more here.
Can I agree an exchange rate now and send my money later?
Some transfer companies let you do this, also known as a forward contract transfer. Find out more here.
Why do transfer companies offer different exchange rates?
They deduct their costs from the interbank rate (the rate banks use to exchange currencies with one another) to give you a personalised rate.
Can I transfer money to an account in another name?
Some transfer companies only let you send money to an account in your own name. Check this before sending your money to avoid any delays.
Are money transfers FCA regulated?
Yes, your money is kept separate to a transfer company's operational money, meaning you have a better chance of getting your money back if they go bust.