How to send money to Australia
Find out how to send money to Australia at the lowest cost in four easy steps
1. Check the AUD mid-market exchange rate against your sending currency
Even though the currency market is unpredictable, it can help you save money to keep an eye on it so that you can optimize how much you will receive for your money. Frequently check the exchange rate and transfer your money when the AUD rate gets to a specific level.
2. Make your choice among the more than 36 services sending money to Australia in order to find the best provider.
Monito's comparison engine lists many different companies able to send money to Australia, such as TransferGo, TransferWise, Western Union, MoneyGram, Currencies Direct. Optimize your transfer by comparing them all and find the most competitive deal for your money transfer.
3. Select the best money transfer company based on your criteria
Which criteria is the most important for you? Total cost, speed of the transaction, user ratings? Examine the pros and cons before making your choice.
It is also interesting to take into account the pay-in/out methods. You can have money transfer providers offering to you the option to wire the money from your bank account, some will also allow you to pay with your debit and credit cards. At the other end, in Australia, choose if you need the money to be sent directly to the recipient's bank account or available for pick-up in cash at an agent location.
4. Sign up and start your transaction with the service you selected
It is now time to register on the provider's online portal (you most of the time have to provide some documents to confirm your identity), and configure your money transfer to Australia.