MONEY TRANSFER INFORMATION

Below you will find information on Money Transfer.

        

Which Way To Pay Australia lists a range of companies that offer international money transfers. The service they offer is generally the cheapest and quickest way to send money to pretty much anywhere in the world.

What do Money Transfers companies offer?

If you need to send either a one-off payment to anywhere in the world, or want to make regular payments of below around $10,000, then a money transfer service is a really cheap and efficient way of doing it. Imagine you have a family member or friend somewhere else in the world, or maybe you are yourself abroad to live or work make payments across the world is often a necessity.

What are my transfer options?

There are lots of ways to move money around the world. You can even go to your regular bank, though the exchange rates and fees might be unattractive. There are now lots of online money transfer services including Paypal and high street agents (like Western Union) which offer money transfer services.

Whichever method you use, it is a good idea to check the exchange rate that is offered. Some methods might have more attractive methods than others. For larger transfers (of at least around $10,000 and over) a Foreign Exchange Specialist might be much more beneficial.

Using the Bank

Most banks in Australia offer to send money around the world for you. This will take around 4 to 5 business days and they may require that your recipient (the person receiving the money) has an account too. Ask in your branch to find out what the options are.

Using Money Transfer Agents

Australia attracts a lot of travellers so you'll find plenty of money transfer agents on the main street in large towns and cities. Look around at stations there's usually one there. They can send money relatively easily they will require ID from you and the recipient so make sure you take this with you. Check the exchange rate they offer to see if it is good.

Using Online Money Transfer Services

You can send money around the world via the internet. You might need a credit card to use this type of service, and it is generally a very fast way of making international payments. Note that the recipient might need an account with the same provider (such as Paypal both need to have a Paypal account). This is not especially useful if your recipient does not have access to the internet.

Prepaid Cards for International Money Sharing

Prepaid cards are becoming more and more popular in Australia. They have been on the market since around 2006 and come in different types. A really useful feature to a prepaid card is the ability to order a 'secondary card' which you can send to a family member or friend abroad they'll be able to access the funds with that card. (Note: by 'prepaid cards' we are referring to prepaid credit cards, not prepaid gift cards which are like gift vouchers).

        


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