Best Ways Of Sending Money To Australia

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1. 7 Best Transfer Methods to Australia from USA, UK, Canada and more (Comparison table)

2. Low-Cost Ways

Sending Cash

💱Exchange Rates	3-5% margin on the exchange rate	2-5% margin on the exchange rate
💰Service Fees	Varies – but here are some estimates For sending $1000 USD A flat fee of $14.99 if you fund with a debit card. Funding with a bank account – it will depend on whether you choose standard or Express service.	Depends on the amount, currency pair, and how you fund the transfer (bank transfer, debit or credit card, cash at a kiosk, etc.)
💲Other Fees	Other fees like credit or debit card fees, agent fees, etc. applicable	Other fees like credit or debit card fees, agent fees, etc. applicable

Sending cash to Australia can be expensive – and we recommend choosing this option during emergencies if your recipient doesn’t have a bank account.

Typically, new cash remitters like WorldRemit and Remitly keep costs low by keeping a part of their process online and the margin on the exchange rate closer to the mid-market rate (explained) – but they only support sending cash from developed countries to the developing world.

On the other hand, both MoneyGram and WesternUnion support sending cash to Australia in minutes from pretty much anywhere in the world – but they charge a premium for the wide coverage and fast transfer speed.

Western Union offers zero transfer fees (in some countries) for first-time online transfers and goes the extra mile by providing special FX rates, which MoneyGram doesn’t have. Choosing Western Union could help you get more value out of your cash transfers.

Sending small bank transfers

💱Exchange Rate	Mid-market rate	0.5-1.5% margin on the exchange rate	0.5-1.5% margin on the market rate
💰Service Fees	Low percentage service fee (0.67% of the amount on average) For sending $1000 USD/GBP/EUR/CAD From the US: Approx $6 USD for bank-to-bank transfers (slower) | $47 USD for credit card-funded transfers From the UK: Approx £4.35 GBP for low cost bank-to-bank transfers (slower) | Approx £9 GBP for card-to-bank transfers From Europe: Approx €6 EUR for bank-to-bank transfers (slower) | Approx €11 EUR for card-to-bank transfers (faster)	The service fee is $4 AUD for sending about $1000 USD/GBP/EUR	0.3% to 1% service fees.
💲Other fees	No hidden fees – has local banks in supported countries If using a credit card to fund transfer then 3% cash advance fees are applicable	Sending and receiving bank fees may apply	No hidden fees Receiving bank fees may apply

For sending about $1000 USD/GBP/EUR/CAD to Australia, Wise is a great option overall.

Sometimes CurrencyFair or Instarem may be cheaper – but Wise minimizes or completely removes hidden fees.

And if you choose their faster payment method (card-to-bank) transfer, your money may arrive in hours – CurrencyFair or Instarem do not have this option.

Instarem has a special offer for new customers that can beat Wise. They offer zero fees and a special exchange rate that can maximize your savings. Check how much you can save with their offer (opens a new tab)

Sending large bank transfers

💱Exchange Rate	Below 2% margin on the mid-market rate (goes down as the amount increases)	0.5%-2% margin on the mid-market rate (goes down as the amount increases)
💰Service Fees	$5 USD fee for transfers below $5,000 USD + margin on the exchange rate (goes down as the amount increases)	No service fees – just a margin on the exchange rate (which goes down as the amount increases)
💲Other fees	Very low (or no) sending and receiving bank fees because OFX has local banks in 115 supported countries	Sending and receiving bank fees

Which is cheaper for larger bank transfers to Australia – OFX or TorFX?

OFX has a low fee of $5 USD for transfers below $5,000 USD / £7 GBP for transfers below £3000 GBP / €10 EUR for transfers below €5000 EUR / $15CAD for transfers below 10,000 CAD and their margin on the exchange rate goes down as the amount increases. However, we organized to have this fee removed (opens a new tab) so you can avoid this fee altogether – if applicable.

Plus they have local bank accounts in many countries they serve – which can potentially make the transfers cheaper.

TorFX doesn’t have any fixed fees – only a margin on the exchange rate – which goes down as the amount increases.

You also get assigned to a Personal Account manager when you sign up, who can negotiate better rates for you and advise you when to transfer to save even more money.

In our experience – the difference in fees is negligible. On any given day, either OFX or TorFX can be cheaper.

So our advice is to set rate alerts or use features such as Forward Contract (offered by both services) where you can choose a specific rate and initiate your transfer when your currency pair reaches that rate.

3. Exchange rates

	Exchange Rates
	3-5% margin on the exchange rate
	2-5% margin on the exchange rate
	Mid-market rate
	0.5-1.5% margin on the market rate
	0.5-1.5% margin on the exchange rate
	Below 2% margin on the mid-market rate (goes down as the amount increases)
	0.5%-2% margin on the mid-market rate (goes down as the amount increases)

4. Most Trustworthy Service Providers

For sending cash

Service	Rating	User reviews
	4.4/5 with over 45,000 reviews (January 2025)	The Good My experience with MoneyGram has been one of complete joy. The system is efficient, trusting, and expeditious! I can always rest easy knowing that whoever I have sent money to will receive it with no problems and the rate is quite fine too. Thank you, Moneygram! – Andre on Trustpilot The Bad The technology for sending money is great. But I have a transaction that was done in February 2023 and it was never picked up and I have been asking to have that money deposited back in my account and it’s like talking to a wall. Very very bad customer service – Jose on Trustpilot

Founded in 1988, Moneygram is one of the oldest money transfer services with a presence in over 200 countries.

Typically, they’re extremely efficient – however, sometimes transfer delays can be caused by system errors in the agent office, and resolving transfer issues can take longer if their customer service teams are busy.

For small bank transfers

Service	Rating	User reviews
	4.3/5 with over 246,000 reviews (January 2025)	The Good I ensured I read through everything until I understood what information was required to fill in the form. I was very impressed with the option of converting the money before the transaction was made, hence, no bank fees! Very important feature. Then it was so easy, clear, swift, and inexpensive. I was very very surprised at which the speed of the transaction happened. Seven seconds? It almost made my head spin, in a nice way, of course. I have no qualms in recommending this company for all transactions. I have sent recommendations to friends. – Barbara Reid on Trustpilot The Bad Wise held on to my money for 6, 7 days after debiting from my checking account before onward transmission to my recipient. In this day and age of electronic fund movements, that seems excessive. It also went beyond the estimated time wise projected (which was already a long time to begin with). It is also days longer than they have been in the past. All of which suggest a deterioration of service. -Eric Chong on Trustpilot

Wise offers the best of affordability, speed, and convenience when sending small bank transfers below $7000 USD to Australia.

However, as a regulated financial institution that functions in many countries, they need to audit certain transfers for security and to check additional documentation, which can cause hold-ups.

For large bank transfers

Service	Rating	User reviews
	4.8/5 with over 8,200 reviews (January 2025)	The Good Every person I spoke with was very professional The rates for transfer were competitive When I tried my first exchange it was completed within twenty four hours An excellent pedigree as far as I am concerned and will continue to use them when needed in the future! – Mary Parker on Trustpilot The Bad I had transfer ££ from UK to US. They have shown the exact amount that will be Credited in US bank account but while the execution done they deduct $20. When I asked the detail they said it’s the intermediary charge. I had asked why have you not mentioned that in your Transaction summary that 20 usd is your service charge. The response was it covered under Terms and condition which is 20 page document. This is absolute cheating and hiding things to customer before they get into a trap. – MP on Trustpilot

What makes TorFX (and their US counterpart Currencies Direct) the highest-rated and most trusted money transfer service?

The level of support you get when you sign up.

OFX also offers 24×7 phone support, but TorFX assigns a Personal Account Manager who can help you with everything from negotiating rates and locking in a rate for the future, to setting up the actual transfer for you on the phone.

And while they try to offer the best rates, sometimes intermediary banks – like the sending and receiving banks – may deduct small amounts to move your money from one country to another.

5. Speed and Convenience

If you want to send money to Australia ASAP during an emergency, both MoneyGram and WesternUnion can help you send cash in minutes when you fund it with a debit or credit card – however, it’s one of the most expensive ways to send money.

Wise keeps the costs of card-to-bank transfers low – which means you can typically send small bank transfers below $7000 USD within a few hours from the US, UK, Canada, etc.

If you choose bank-to-bank transfers with Wise, CurrencyFair, or Instarem, expect the money to arrive in approximately 1-3 days.

High street banks Chase, JP Morgan, or Barclays also take about 1-5 days to process international transfers to Australia.

Larger bank transfers with OFX or TorFX can take longer – from a couple of days to up to a week in case you need to submit additional documentation (purpose of transfer, recipient’s address and ID, etc.).
Here’s a quick breakdown of transfer times

Service Provider	Transfer Speed
Chase Bank and JP Morgan (the US)	1-5 days
Barclays (the UK)	1-5 days
National Bank of Canada	3-5 days
MoneyGram (cash)	Minutes to Next day
WesternUnion (cash)	Within minutes – Money in Minutes Service Next day – Next day service
Wise (small bank transfer)	94% of transfers completed within 24hrs. 61% of those transfers were completed nearly instant. See Report
Instarem (small bank transfers)	Minutes to 3 days
OFX	1-2 days for popular currencies 2-5 days for exotic currencies
TorFX	Same-day transfers for some popular currencies 2-4 days for exotic currencies

6. Regulations, Taxation and Compliance

• No limits to sending and receiving transfers to and from Australia

• You may be required to share the purpose of the transaction as well as your recipient’s address and ID for large transfers

• If you’re sending money home to Australia as an expat, you don’t need to pay taxes in Australia if you’ve already paid taxes on your income where you’re currently living

7. Recipient Information

• Double-check the bank information shared by them before setting up a transfer

• They need to carry a government-issued ID to receive cash

Final Word

For larger bank transfers such as above $7,000 USD or 10,000 AUD, OFX and TorFX are my top choices. Both excel in customer service which is very important for peace of mind during large transfers. OFX even provides fee-free transfers through this link, while with TorFX, you can start by getting a quote from the right region here:
AUS/NZ and Asia – Get a Free Quote
UK and Europe – Get a Free Quote

Before making your decision, thoroughly compare the speed and convenience, customer reviews, exchange rates, and costs of transfers of different services. We recommend checking our comparison table to help you compare these services easily.

Happy sending!