5 Best Ways to Send Money From Australia Overseas

When you need to send money overseas, choosing the right method can make all the difference in terms of cost, speed, and convenience. With a variety of options available—ranging from traditional bank transfers to modern digital platforms—selecting the best service for your needs can feel overwhelming. 

In this guide, we’ll explore the top 5 ways to send money from Australia overseas, comparing fees, transfer times, and features. Whether you're an individual sending money back home, sending funds to peers abroad from Australia, or a business owner making international payments, this guide will help you make an informed decision.

Before we explore the top services for international money transfers, let's briefly review the common methods for transferring funds from Australia overseas.

• Bank Transfer – Bank transfers, such as telegraphic transfers, SWIFT transfers, and SEPA transfers, are a traditional and well-known method for sending money internationally from Australia. This option allows you to send funds directly from your bank account to an overseas bank account. However, bank transfers can be slow, may not offer competitive exchange rates, and often come with high fees, particularly for smaller amounts. In fact, the Australian Competition and Consumer Commission (ACCC) stated that consumers often find that non-bank providers offer lower fees, especially when compared to the big four Australian banks. 
• Digital Wallets and Online Payment Platforms – These platforms are designed to store funds electronically and enable a range of transactions, such as online shopping, person-to-person transfers, and business payments. Sending money is just one of the many services they provide, with some platforms also offering international transfer options. Fees vary depending on the provider.
• Money Transfer Service/App – Specialised money transfer services are designed specifically for international transfers. They often offer competitive fees and faster delivery times compared to traditional banks. Many of these services also provide options for cash pickup, mobile wallet transfers, or direct bank deposits.

Remitly, founded in 2011, is a U.S.-based online money transfer service focused on helping individuals living abroad send money back home to family and friends through cross-border remittances. The platform offers access to over 5 billion bank accounts and mobile wallets, along with around 470,000 locations for cash pickup options.

Operating primarily through its mobile app and website, Remitly serves millions of active customers across over 170 countries and supports more than 100 currencies.

Information About Remitly

• Options for Sending and Collecting Money: Bank transfer, cash pickup, mobile money, UPI (India), G Cash (Philippines), and more. Please note that this will depend on the country you are sending to.
• Countries You Can Send to From Australia: Many countries worldwide, including the Philippines, India, Vietnam, Colombia, Japan, the UK, the US, and more. 
• Speed: Speed ranges from minutes to 3-5 business days or more, depending on the method and destination. Some countries offer an express option, allowing you to pay a higher fee for faster delivery. 
• Transaction Limit: AUD 10,000  per transfer. However, this may depend on the destination country. 
• Other Considerations: It supports only personal transactions. Areas not yet supported for sending money to, but expected to be available soon, include Macau, South Sudan, Taiwan, and the US Virgin Islands.

Remitly Fees 

Remitly fees vary by country and depend on the amount sent, the transfer method chosen, and the recipient's collection method. 

For reference, here are the fees for three popular countries people send money to from Australia:

Remitly Pros and Cons

Founded in 1851, Western Union is a U.S.-based multinational company that transformed from a telegram service into a global financial provider for individuals and businesses. It facilitates money transfers between bank accounts, digital wallets, payment cards, and retail locations, serving over 150 million customers and supporting transactions in over 130 currencies across more than 200 countries and territories.

Globally, Western Union's network includes extensive cash pickup locations and payout capabilities, reaching billions of bank accounts and digital wallets, making it easy for recipients to access funds almost anywhere in the world. In Australia, Western Union operates over 3,600 agent locations, including a partnership with Australia Post. 

H3: Information About Western Union 

• Options for Sending Money: You can send money in person with cash at an agent or online via a bank transfer, credit/debit card, or PayID using the phone number or email linked to your account without needing to provide a BSB number or account number. 
• Options for Collecting Money: Recipients can choose to receive funds via bank account, mobile wallet, UPI (in India), home delivery, or cash pickup. 
• Countries You Can Send to From Australia: Over 200 countries, including the Philippines, India, Vietnam, Pakistan, Fiji, Thailand, the UK, and more.
• Speed: Cash pickup should take minutes, and a bank transfer should arrive the next day. However, this depends on several factors, including the countries of destination and payment methods. 
• Transaction Limit: AUD 2,000 for cash pickup, AUD 30,000 to AUD 50,000 when sending via bank transfer, PayID, and debit card, and up to AUD 2,000 - 9,000 when sending with a credit card.
• Other Considerations: Transaction limits vary by country, with some countries, like India, having lower limits.

Western Union Fees 

Western Union fees are similar across most countries but vary based on the sending method, receiving methods and the amount. Here is a breakdown by transfer methods:

Western Union Pros and Cons

WorldFirst is a British international digital payment and financial services platform provider founded in the UK in 2004. In 2019, it was acquired by Ant Group, an affiliate of the Chinese conglomerate Alibaba Group, which owns Alipay, the world’s largest mobile digital payment platform. Worldfirst now operates in over 200 countries and has a customer base exceeding 1 million.

In Australia, WorldFirst offers the World Account, enabling Australian businesses to open local currency accounts with local bank details in more than 10 currencies. This enables businesses to send money and receive payments in multiple currencies without the need for local bank accounts in each country.

 Information About WorldFirst

• Options for Sending and Collecting Money: Transfer funds from your bank via local networks or SWIFT. The service supports payments to payees’ bank accounts, 1688.com orders, bills, salaries, taxes, automated and recurring payments, and mass payments to up to 200 recipients.
• Countries You Can Send to From Australia: While specific country limits are not mentioned, popular destinations include the US, Vietnam, India, China, Singapore, Korea, Malaysia, France, Thailand, Indonesia, Japan, New Zealand, the UK, Poland, Italy, Canada, Hong Kong, and Germany.
• Speed: Payments can be completed the same day or the next day. Transfers to other World Accounts in the same currency are settled instantly.
• Transaction Limit: There is no transaction limit imposed by WorldFirst.
• Other Considerations: This service is only available for business use.

WorldFirst Fees 

WorldFirst Pros and Cons

Founded in 2010 and based in the UK, WorldRemit is a digital remittance company that facilitates cross-border money transfers from over 50 countries to over 130 countries. The company has a strong focus on Africa, covering almost all African countries, while also supporting transfers to the US, UK, parts of Asia, South America, and more. Key countries often highlighted include the Philippines, India, Zimbabwe, Ghana, Colombia, Morocco, Ethiopia, Kenya, and Nigeria.

WorldRemit offers a unique feature of mobile airtime top-up, allowing senders to top up recipients' mobile phones directly. The platform supports more than 70 currencies and has a global customer base of over 5 million users.

Information About WorldRemit

• Payment and Collection Options: Pay via bank transfer, debit card, or credit card. Recipients can collect funds through bank deposit, mobile money, cash pickup, or airtime top-up, depending on the country.
• Countries You Can Send To From Australia: WorldRemit supports transfers to nearly 100 countries, including popular destinations like the Philippines, India, Vietnam, Ghana, Kenya, the UK, the US, and many countries in Africa, Asia, and America.
• Transfer Speed: Airtime top-ups are instant, mobile money transfers take minutes, and bank transfers are completed the same day or within two business days.
• Transaction Limits: AUD 50,000 per 24 hours, AUD 9,990 per transfer when paying by card, and AUD 5,000 per transfer when paying via Apple Pay. 
• Other Considerations: A number of countries, like Vietnam and China, only support airtime top-ups as a receiving method.

WorldRemit Fees 

We could not find specific information on WorldRemit fees, except that the first transfer with WorldRemit is free during the promotional period. For more details, please contact WorldRemit directly.

WorldRemit Pros and Cons

OFX, founded in 1998, is an Australian online foreign exchange and payments company headquartered in Sydney. The company offers money transfer services to individuals, businesses, and ecommerce sellers, as well as white-label international transfer services. In addition to its transfer services, OFX specialises in foreign exchange (FX) and provides business-focused solutions like corporate cards and business accounts. 

For personal services, OFX caters to individuals sending money to friends and family overseas, relocating abroad, paying taxes and bills, purchasing goods, and selling international shares.

Today, OFX serves over 1 million clients, facilitating transfers in over 50 currencies to more than 170 countries. Last year, the company transferred a total of AUD 38 billion. 

Information About OFX

• Options for Sending and Collecting Money: You can send money to OFX by bank transfer (most commonly EFT, offered by most banks worldwide) or BPAY. OFX then handles the transfer to your recipient. For business transfers, you can also set up direct debit and recurring payments. 
• Countries You Can Send to From Australia: Over 170 countries, including popular destinations like the Philippines, India, China, Vietnam, Japan, the UK, the US, Canada, and more. 
• Speed: Transfers take same-day to 1-2 days for major currencies and 3-5 days for exotic currencies.
• Transaction Limit: No maximum transaction limit by OFX, but your bank’s daily transfer limits may apply.
• Other Considerations: The minimum transfer amount is AUD 250, and OFX doesn’t accept cash or cheques for transfers.

OFX Fees 

OFX offers separate fee structures for personal and business users.

Personal Fees

OFX fees are flat fees that are consistent across countries. The company offers two types of rates: the standard rate, which is displayed on its website, and an OFX customer rate that becomes available once you sign up as a customer. Below is an overview of the standard fee structure:

Business Fees

For business users, creating a global business account is required to access local bank details before making transfers. OFX offers two business plans with different fee structures:

OFX’s exchange rates follow the mid-market rate with a markup. OFX offers an introductory 0.45% FX margin on major currencies for international business transfers. Eligibility applies.

OFX also offers a custom business plan. For more details, please visit OFX Business Pricing page. 

OFX Pros and Cons

Sending money internationally can be complex, with several factors affecting the cost and speed of your transfer. When sending funds from Australia, here are the key elements to consider.

Fees and Exchange Rates

Exchange rates and fees impact both the cost of sending money and the amount your recipient receives. Here’s a breakdown of each:

• Transfer fee: This is the cost charged for using the provider’s service to send money. It can be either a fixed amount or a percentage of the transfer total. 
• Exchange rate: The exchange rate refers to the rate at which one currency is exchanged for another, such as from Australian dollars to Philippine pesos when sending money from Australia to the Philippines. These rates can fluctuate based on market conditions. It’s common for providers to add a margin to the actual exchange rate, which is why exchange rates vary by provider. Many providers offer estimates for the rates, and some offer FX options, allowing you to lock in an exchange rate for future transfers to protect against changes, particularly for large amounts. 
• Currency conversion fees or exchange fees: Fees that the service provider charges for facilitating the currency exchange.
• Intermediary bank fees: Additional fees from middleman banks that help transfer funds across borders. This can result in your recipient receiving less than expected and is often unpredictable. You can, however, choose to cover all the fees when initiating the bank transfer. 
• Card fees: These are fees that card providers may charge when using a debit or credit card to fund the transfer. 

To avoid surprises, ask the provider for a full breakdown of all potential and hidden fees, including any that may be applied on the receiving end. Some transfer services provide the option to cover all fees upfront, ensuring the recipient gets the exact amount you send.

Delivery Options

When sending money internationally, it’s crucial to choose a delivery option that suits the recipient's needs, the budget you have and the urgency of the transfer. Popular delivery methods include:

• Cash pickup: The recipient collects physical cash from an agent's location. This method is often the fastest and ideal for recipients without bank accounts, but it comes with higher fees.
• Bank deposit: Money is transferred directly into the recipient's bank account. This is a secure and convenient method, though depending on the provider and destination country, it can take a few business days for the funds to arrive.
• Mobile wallet transfers: If the recipient uses a mobile wallet app, you can send money directly to their account. This option often provides instant access to funds.

Transfer Limits

Each provider sets limits on how much money can be transferred in a single transaction or over a set period, such as daily or monthly limits. These limits may vary depending on factors such as the country of destination or the type of service used (e.g., online vs. in-person transfers). If you’re planning to send a large amount of money, ensure the provider’s limits align with your needs.

Some services may require additional identity verification for larger transfers, and it’s good to be aware of these requirements to plan ahead and avoid delays.

When sending money from Australia overseas, selecting the right service ultimately depends on your specific needs—whether it’s the fees, the amount you’re sending, the speed you need, and the recipient's location. 

In this article, we cover Remitly for fast, flexible options for personal transfers, Western Union for both personal and business transfers with a vast network in Australia and overseas, WorldFirst for businesses and paying China suppliers, WorldRemit for sending money to Africa and topping up phones abroad, and OFX for large transfers with excellent FX options.

By considering the key features of each service, you can make a more informed decision to ensure your money reaches its destination quickly and affordably.