You don’t need to accept your bank’s low exchange rate when you need to send money to Papua New Guinea, so shop around for a better deal.
As geographical neighbours, Australia and Papua New Guinea share strong and important links. And with PNG home to the iconic Kokoda Track, this stunning mountainous nation is an extremely popular destination for Australian tourists.
If you ever need to send money to PNG from Australia, there are plenty of transfer options at your disposal. Just make sure you compare them all to ensure that you find the most cost-effective solution.
Compare Money Transfer Services
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With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:
- Buying property abroad
- Regular overseas payments
- Risk management
Banks versus money transfer companies
Banks might offer a convenient choice when it comes to sending money overseas, but they certainly don’t offer the most cost-effective option. With high transfer fees and some pretty abysmal exchange rates, banks take more than their fair share of the amount you transfer.
If you want to find a better deal, consider the services offered by specialist money transfer companies such as OFX. These providers concentrate all their efforts on moving funds internationally, offering safe, easy and affordable transfers. With lower transfer fees and superior exchange rates, they can save you a whole lot of money the next time you need to send money to PNG.
Ben’s girlfriend Sarah has been posted to Papua New Guinea to work for six months. With her birthday fast approaching, Ben wants to send Sarah a $1,000 money transfer as a gift. Instead of approaching his bank to send the transfer — he’s seen the poor exchange rates they offer and they don’t offer exotic currencies — he decides to compare two money transfer companies and see which one offers the most affordable option.
As you can see in the table below, using the first transfer company will save Ben AUD $5 in transfer fees and also allow him to send an extra 65 PGK.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 AUD = 2.111 PGK||1 AUD = 2.046 PGK|
|Transfer method||Online bank account transfer||Online bank account transfer|
|Processing time||1-3 days||1-3 days|
|Amount received (in PGK)||2,111 PGK||2,046 PGK|
How do I compare transfer companies when transferring and receiving money via Papua New Guinea?
- Exchange rates. Does the company regularly offer better exchange rates than its competitors? If so, do those rates come with high transfer fees attached?
- Transaction fees. How much will you need to pay in fees each time you send money to Papua New Guinea? Can you avoid fees by sending large transfer amounts?
- Transfer methods. Can you place transfers in a branch or online? What about over the phone or through a mobile app?
- Flexible options. Can you schedule a recurring payment in advance and save yourself some time? Can you place forward contracts and limit orders to lock in the exchange rate you want?
- Transfer time. How long will it take until the funds you send make it into your recipient’s bank account or wallet?
- Minimum transfer amounts. If the company imposes minimum or maximum transfer limits, will these have an impact on your regular transfer needs?
- Pickup options. Can your beneficiary collect the funds from a cash pickup location? Or will the money be deposited straight into their bank account?
- Customer service. If you ever need help with a transfer, does the company provide phone, email and live chat support?
How do I send money to Papua New Guinea from Australia?
- Specialist money transfer providers. Online transfer providers such as OFX offer fast and affordable transfers.
- Cash pickup transfer companies. Western Union and MoneyGram are two world-renowned companies that offer this service.
- Bank transfers. Compare your bank’s exchange rates and fees with those from other transfer providers.
- International cheques. International guaranteed cheques are a safe but time-consuming transfer method.
How do I receive money from Papua New Guinea in Australia?
- Specialist money transfer providers. Start researching today to find out which specialist transfer companies can send money from Papua New Guinea to Australia.
- Cash pickup transfer companies. Search online to find your nearest Western Union or MoneyGram location.
- Bank transfers. Another secure transfer option is to receive a transfer from a bank in PNG to your Australian bank account.
- International cheques. Check with your bank to find out the fees they charge when you cash an international cheque.
Emergency cash transfers in Papua New Guinea
If you ever need to help out a friend or relative in an emergency and send an urgent cash transfer to Papua New Guinea, there are plenty of transfer providers who can help. Just be aware of the fact that these transactions usually cost more than a normal transfer, with high transfer fees and low exchange rates combining to deliver a blow to your finances. This is why it’s always a good idea to check all the details of a transaction before handing over any cash.
Cash pickup locations in Papua New Guinea/ Western Union / MoneyGram branches in Papua New Guinea
With locations in Papua New Guinea and Australia, Western Union and MoneyGram offer fast and convenient international cash transfers. You can see the details of some popular cash pickup locations in PNG below, but make sure you have photo ID and the details of your transaction when you go along to collect any funds.
- Bank of South Pacific
Cnr Dounglas & Musgrave StreetsPO Box 78Port Moresby, National Capital District 121+675-3229834Open 8am to 3pm Monday to Thursday, 8am to 4pm Friday
- Bank of South Pacific
Section 62, Lot 10, Morata StGordonsP0 Box 1710, BorokoPort Moresby,+675-3255999Open 8am to 3pm Monday to Thursday, 8am to 4pm Friday
- Huon Golf
Huon Gulf Post OfficeNa Lae, Morobe+675-4730407Open 8am to 4:30pm Monday to Friday, 8am to 11:30am Saturday
- City Pharmacy Lae
Lae, Lae+675-312 0000Open 8am to 8am Monday to Saturday, 8am to 6:30pm Sunday
- Westpac Bank PNG
Port MoresbyNational Capital DistrictBoroko, 1116753123311Open 8:45am to 3pm Monday to Thursday, 8:45am to 4pm Friday
- Westpac Bank PNG
Jacksons Parade 7 milePort Moresby,3251901Open 8:45am to 3pm Monday to Thursday, 8:45am to 4pm Friday
- Westpac Bank PNG
PO Box 235 Lae MPLae, 4116754726394Open 8:45am to 3pm Monday to Thursday, 8:45am to 4pm Friday
Tips for picking up cash in Papua New Guinea
Australian travellers to Papua New Guinea are advised by the Department of Foreign Affairs and Trade to exercise a high degree of caution. So when you go to pick up cash from a transfer agent in PNG, follow a few simple precautions to ensure that you stay safe. Don’t go alone to a transfer branch and only pick up cash in an area where you feel safe. Don’t display the cash in front of strangers and make sure to deposit it somewhere safe as soon as possible.Back to top
What are the steps to send money to Papua New Guinea?
Although the transfer method you use will differ according to the provider you select, in most cases you will need to:
1. Sign up for an account. You can often do this at no cost online by providing your name, full contact details and a valid form of photo ID.
2. Enter transaction details. Provide details about how much money you’re sending, the currency you’re sending, and who will be receiving the funds.
3. Pay for the transfer. You can then review the details of the transaction and submit a transfer request. Many providers offer online tracking services so you can monitor the progress of your funds.