Choosing the best way to send money to Australia can remove the hassle and risk of moving a potentially large amount of cash, not to mention save you money. A money transfer service can offer a quick, cheap and secure solution.
So, if you need to find a way of sending money to Australia to buy a house, for a family member or for any other reason, you'll want to be assured that you choose the right service.
We show you how to choose the service features that you need and find the cheapest way to transfer money to Australia from UK:
How to compare UK to Australia money transfers
The price for transferring money to Australia is determined by two things, the amount you want to transfer and the transfer service's charges (including commission, sending and receiving fees).
Providers tally up all their charges for handling your transfer and add them to the cost of the transfer as a single fee.
Each service will usually have both a minimum and maximum money transfer you can make, so you'll need to check that your money transfer is eligible, first and foremost.
However, larger transfers are often eligible for smaller fees, so you should also consider how much as well as how often you will want to make a transfer. For example, two £500 transfers for £5 each or a single £1,000 transfer for a one-off £7 fee.
What about exchange rates?
Exchange rates are something of a hidden cost. While rates dictate how many $AUD your transfer buys, the exchange rate you'll be given is often unavailable even to the service provider until it your transfer is finalised.
Similar to the provider's fees, the exchange rate you are offered is affected by the amount of money you want to transfer. This means that you can often secure a provider's best rates if you are willing to transfer a larger amount of money, e.g. £5,000.
If you check the threshold for each provider's premium rates, you should be able to identify packages where your transfer will be eligible for better rates, thus buying you more Australian Dollars.