Sending money overseas

Transferring funds to friends or family

Page reading time: 2 minutes

Look for a good currency exchange rate and check the fees when sending money overseas.

How to send money overseas

You can send money to other countries using providers of a money transfer service. These services are sometimes called international wire transfers, cross border payments or remittances.

You can use your bank or a money transfer business, and can send the money online, using a mobile app, or in person.

Not all services send money to every country. Each service has its own process and costs.

Providers choose the exchange rate they use. They also charge fees. The costs depend on:

how much money you send
where you send it
how you send it.

Bank transfers

Banks can send money to banks in other countries. Banks use a system called 'SWIFT' which connects financial institutions around the world.

If you already use a bank, you usually send money:

through online banking, or
by visiting a branch.

If you're not an existing customer, the bank will ask you to show government-issued identification.

Money transfer business

A money transfer business (also known as a remittance service provider) is an individual, business or organisation that sends money to someone in another country. These businesses are different from banks.

They can:

send money to a bank account, or
let the person collect the money at a local branch or agent.

Many money transfer businesses operate online only. They use websites or mobile apps instead of a physical store, and these firms can be faster and cheaper than banks.

While the transfer is often started online, you may be able to send the money by bank deposit, cash pickup, direct debit and home delivery.

In Australia, money transfer services must be registered with AUSTRAC (Australian Transaction Reports and Analysis Centre).

Before you use a money transfer business, check that it is registered.

How to compare costs to transfer money

It's a good idea to shop around before you send money overseas. Different companies can charge very different prices. You can save money by comparing exchange rates and fees.

Compare the rates and types of transfers on these independent sites:

SendMoneyPacific – For money sent from Australia to the Pacific Islands.
SaverAsia – For money sent from Australia to countries in Asia.
Remittance Prices Worldwide – The World Bank's website for other international transfers.

Compare these features:

Currency exchange rate	how much your money is worth in another country (for example, how many Australian dollars it takes to buy 1 euro) whether the advertised rate is the rate you get
Exchange rate guarantee	whether the exchange rate stays the same or can change
Transfer fees and commission	the type of conversion fee (a flat rate or a percentage, or both) whether the receiver pays any fees the 'margin' fee to convert your currency
Payment method	online via credit card, or cash or EFTPOS
Transfer time	how long the money takes to arrive (it could be instant, take a few minutes, or take up to five business days)
Transfer amount	the smallest or largest amount you can send
Receive method	how the receiver gets the money — for example: cash pick-up bank deposit cash delivery online wallet linked to their phone number crypto-asset exchange

If something goes wrong

If there's a problem with your transfer, contact the bank or money transfer business first.

If you're not happy with their response, and they are a member of the Australian Financial Complaints Authority (AFCA), you can complain to AFCA.

Beware of scams: If you send money to someone and that person turns out to be a scammer, it's almost impossible to get your money back. Be very careful who you send your money to. Visit Scamwatch to learn more about scams.