From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Austria is easy. But do your research and shop around for the best available deal.
Compare international money transfers
Our interactive table lets you compare current fees, exchange rates, transfer speeds and other details about sending your money overseas. Enter the amount you’re transferring, and see how much will arrive at your destination.
Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.
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
- If the provider quotes a different rate to the one above please let us know
How do international money transfers work?
An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Austria. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.Back to top
Banks versus money transfer companies
We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.
You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.Back to top
Case Study: Sophia needs a money transfer in Austria
Sophia left Virginia to accept a position with the Vienna Philharmonic. Besides playing with the orchestra and waiting tables twice a week, she also teaches the violin in the evenings. However, making ends meet is difficult, so she’s grateful when her parents offer to send $1,000 to help with rent and other living expenses.
Her parents compare two money transfer companies to find the best deal.
|Money transfer service 1||Money transfer service 2|
|1 USD = 0.929 EUR||1 USD = 0.922 EUR|
|Amount received for||926 EUR||918 EUR|
|Transfer time||1 day||Within and hour|
|Transfer options||Online||Online, bank account|
If Sophia’s parents choose to go with money transfer service 1, they will save $8; however, if they need to get the money to her more quickly, service 2 is the way to go.Back to top
How to compare transfer companies when transferring money to Austria
You’ll want to consider costs, of course. But other factors can also affect your choice.
- Exchange rate. U.S. dollars are converted to euros at an exchange rate that’s set by the transfer provider. These rates vary day to day, even moment to moment, and among providers.
- Fees. Most companies charge a fee to transfer your money around the world, though some will waive that fee for large transfers. The fee and the exchange rate determine how much your transfer will cost.
- Minimum amounts. Some companies will transfer as little as a dollar, but others won’t deal with anything less than a few hundred. Look for a match with what you’re trying to send.
- Urgency. If the money needs to get there ASAP, most providers complete transactions in a day or two. Some can do it in minutes, at a higher cost. The fastest availability usually comes with picking up the funds in cash. Surprisingly, using a credit or debit card on your end can be faster than pulling money directly from a checking account.
- Process and scheduling. Do you prefer to send money online, over the phone or in person? Do you want to schedule a future transfer or use a forward contract in anticipation of better exchange rates?
- Payment methods. Will you pay with cash, a bank account or a debit or credit card? Transfer agents often see debit cards as quicker and more secure than the bank accounts they’re based on. However, using a credit card can trigger cash advance charges from your credit card company.
- Customer service. How much help will be available if you hit a snag or have a question? Are the support hours convenient?
Ways to send money to Austria from America
- Bank transfers. Most major banks offer wire transfers to Austria.
- Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily.
- Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes. World First and OFX are both trusted partners of Finder.com and are offering Finder readers an exclusive deal of $0 in fees.
- PayPal. You can send money abroad using your PayPal account.
How safe is a money transfer?
When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. When sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
Tips for picking up cash in Austria
Whether you’re picking up cash in Austria or any other country, take a safety-first approach. Use common sense, such as keeping your cash hidden and depositing it with your bank as soon as possible. Taking a friend along with you to collect the funds is also a good idea.Back to topBack to top
Emergency cash transfers in Austria
There are certain situations when you might need to send a transfer as quickly as possible. When you do need to send an emergency transfer, remember that you will usually have to pay extra in order to get your funds to your beneficiary ASAP. Make sure to check the exchange rate and fees that apply so you know exactly how much it will cost.Back to top