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We don’t compare all international money transfer providers in the market. At times, certain providers or currencies might not be available. Learn more.

Why use Compare the Market to send money overseas?

Quotes in seconds

Just tell us how much money you want to send, and which currencies you’re interested in transacting. We’ll take care of the rest!

Plenty of choice

Enjoy options from different providers, so you can be confident you’re making an informed choice when you send money overseas.

No mark ups

You pay the same fees with us as if you went directly to an international money transfer service. The difference? You have choices!

How can I send money overseas from Australia?

To send money overseas, you can use an international money transfer; an online provider who will send funds from your account to another. This can be one of the cheapest, quickest options available. Alternatively, use an international money order or organise a cash transfer, where the recipient picks up cash in hand.

What is an exchange rate?

The exchange rate will determine how much foreign currency your Australian dollars will convert to. When it comes to sending money overseas, this rate is important in determining how much you need to pay to send a particular amount to your recipient or how much your recipient ends up with once your transaction is finalised.

Furthermore, different banks and money transfer providers offer different exchange rates based on (a) where the money is going, and (b) how much you plan to send.

Best ways to transfer money internationally

International money transfer

A transfer of funds through an online provider a method where you send money from one bank account to another – may be your first port of call. Once you find the right provider, all you need to do is set up an account, satisfy some identification requirements, and you’re ready to send money.

In fact, this can be one of the best value options if you transfer your funds through a money transfer service that has competitive exchange rates, low fees and fast transfer times.

Through your bank

You can typically transfer money overseas using your existing bank account. In fact, this method can be incredibly convenient, as you don’t need to register your accounts.

However, transferring money through your bank is typically more expensive than completing a transfer through a dedicated money transfer service, due to less attractive exchange rates and higher fees. As such, we encourage you to compare International money transfer providers on our panel first. This way, you may find a more competitive rate at no additional cost.

International money order

You can physically send a foreign cheque purchased from your financial institution. This option can prove slower and somewhat more expensive than other transfer methods.

Cash transfer

This type of transfer is similar to an international money transfer, except your recipient can go to a selected agent location to pick up the money in cash. This is a great option if your recipient doesn’t have a bank account.

Frequently asked questions

How can I transfer large amounts of money overseas?

An international money transfer is more than sufficient to send funds overseas – regardless of size. Providers will place a limit on how much you can transfer at once, but it’s typically quite large (e.g. thousands of dollars). Just be mindful that you may need to pay some fees for these types of transactions, and that some providers offer better exchange rates than others.

Can you anonymously send money overseas?

Due to Australian laws around anti-money laundering and counter-terrorism financing, you must provide a certain amount of information and identification before you can send money overseas.

How much money can you send overseas?

Most providers will have a minimum and maximum amount that you can transfer overseas, however, they will vary from one another. One provider may impose no minimum amount to send, while another may impose several thousand. Similarly, the maximum might be several hundred dollars, or several million.

One thing to keep in mind is that sending a small amount of money may not be worth it if the dollars received on the other end have been eaten away by fees and a less competitive exchange rate.

What fees and expenses do you incur when sending money overseas?

  • Currency conversion fee. You’ll pay to have AUD converted into a foreign currency.
  • Intermediary fee. Some beneficiary banks will have an intermediary bank that funds will be processed through prior to reaching the recipient’s account. This may result in additional fees being charged by the intermediary bank, meaning less money may arrive in the recipient’s account.
  • Inbound fee. A fee for when your recipient finally receives the money.

We list any currency conversion fees on our website. However, fees charged when the money is being processed during its journey to the recipient won’t be listed in our comparison service (as we don’t know what they’ll be). As such, make sure you consider that the final quoted amount of money may differ to what you previously thought and make all suitable enquiries from the provider you choose.

What do I need to be mindful of when it comes to exchange rates?

For one, the value of currencies in different countries is in constant flux. Send your money today while the AUD is strong, and your recipient will receive a healthy sum. Send it tomorrow and it might be weaker, meaning your recipient ends up with less or you have to deposit more funds to send the same amount.

In addition, you can choose to have your money converted to foreign currency either at the start of your journey, or choose to transfer the funds in AUD & the conversion will take place at the recipient’s bank. If you convert the funds prior to sending, you may have a better idea of what the final cost may be (not withstanding intermediary fees).  However if you choose to send the funds in AUD you will be subject to the exchange rates at the time of the receipt which may differ.

So, how can you make sure you find the best possible exchange rate for your international money transfer? It’s simple: compare providers and aim to find a fair exchange rate with lower fees.

What bank details are needed to send money overseas?

You need the recipient’s international account number (including SWIFT/IBAN code), full name, address, and contact number. You will also have to satisfy some identification requirements before you can send money overseas.

See all international money transfers FAQs