Moved to Australia and worried about sending money online from Australia? Well, there are various options you can choose to send your money overseas. One option may prove useful to one and not to another so it completely depends and differs from person to person. So here we would not say the best option for sending money would be presented but would discuss what all options are there for you to send money online from Australia. A complete Guide as to how you can send money online from Australia.
Transferring Money Overseas
There are several International money transfer service providers, which let you transfer your fund online more securely and speedily. Let’s have look at them.
Bank Account Money transfer
Advancement in technology has proved a boon and even banks make use of the online services much vigorously. You can simply open up an Australian bank account where can have a SWIFT Transfer directly in the overseas bank account. You can either send online by meeting the person in the bank branch or do it yourself via Bank’s app or website. The usual time period is around 5 days and it is a bit expensive too with regards to charges and hidden costs.
Online Money remittance company
These companies create an account for you and then you can operate the account easily via your Smartphone. You simply need to have bank account details of the recipient and then the remittance companies transfer the fund to the overseas bank account. This is usually fast and the fees charges are comparatively less.
The Online Money remittance companies in Australia, which are preferred, are Instarem, CurrencyFair, OFX, and WorldFirst. There might be a minimum transfer amount in some of the providers and the charges depend upon the amount needs to be transferred. You can visit https://www.instarem.com/ to read more about online money remittance.
The money remittance companies allow you to transfer the funds online with the help of cash/EFTPOS. You can go to the storefront of these companies and the recipient needs to visit the transfer office in the overseas country to collect cash. This is the fastest medium to transfer money but is quite expensive as it takes only several minutes for transfer. You can transfer the cash online once you have an account with them via your phone or a bank card.
Companies like WesternUnion and MoneyGram offer such kind of services.
International money transfer providers
There are several IMT providers nowadays and among them, PayPal is well known in Australia. You simply need to have a PayPal account and the recipient must be having a one. Once you transfer the amount, it takes somewhere around 5-7 working days max to get the funds transfer. The charges are taken by PayPal differs from country to country and ranges from 0.5% to 7.5%. safe and secure way to transfer money online.
Depending upon the mid-market Currency Exchange Rates, Fees and time taken, you must wisely choose the online fund transfer option from Australia. Compare all the options and choose the one, which is the most feasible and reliable to you.