How to transfer money out of Australia & overseas

Money Transfer tips

We’ve prepared some information that may prove useful if you’re looking to transfer money out of Australia. Please note that money is serious stuff and the following information does not constitute financial advice. You should always conduct your own research, be sure to read the product disclosure statements for products you’re interested in and seek financial advice if you’re not sure.

A list of possible fees occurred in overseas money transfers include (but are not limited to):

  • sending fees
  • exchange rate
  • receiving fees
  • upfront & upon collecting fees
  • Additional fees and charges charged by intermediary and receiving banks
  • Other fees

Some options for institutions that can assist to transfer money include:

  • Australian banks
  • Western Union / Travelex
  • Non-bank, online-based money transfer companies (OzForex, World First and Currency Fair)

Study Online Australia tips:

  1. Check all fees upfront
  2. Read terms & conditions
  3. Compare options
  4. Consider your circumstances when making your decision (speed, accessibility,  convenient for you, convenient for recipient)