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How to send money to Australia

Find a quick, affordable service to make a money transfer to Australia from the Philippines.

If you’re making regular or one-off overseas payments to Australia, it helps to have a money transfer service that is cost-effective and reliable. Transferring your pension, wages, tuition fees or even loan payments to Australia can be a daunting and time-consuming process. This guide will help you figure out the best way to send money to Australia from anywhere in the world by comparing all the options.

Compare money transfers to Australia from the Philippines

Select your currency and transfer amount, and compare the fees, rates and transfer times of different providers.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
PHP 1 1 - 2 days PHP 0.00 0.029 AUD
289
WorldRemit Philippines lets you use your debit, credit or pre-paid card to send instant mobile airtime top-ups. Go to site Show details

Compare up to 4 providers

The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

How to send money to Australia in a few steps

  1. Choose your service. Not all money transfer services send money to Australia. Use our table to see which ones do and compare exchange rates, transfer fees and more.
  2. Create an account. This usually involves providing forms of identification, like your driver’s licence or passport and proof of address.
  3. Pick your payment method. You can typically choose to pay from your bank account, credit card or debit card.
  4. Choose your delivery method. Do you want to send money directly to your recipient’s bank account, to their mobile phone, or arrange a cash pickup in Sydney, Melbourne or Brisbane?
  5. Enter your transaction details. This includes the transfer amount, currency you’re sending and the recipient’s information.
  6. Review your transfer. Make sure the receiver’s details are correct. You can also review the final exchange rate. Watch out for any extra fees the recipient may have to pay to pick up the money.
  7. Send your funds. The money will be deposited into your recipient’s account in Australia.
  8. Receive email/SMS confirmation. This will include your tracking number along with confirmation of your transfer. If the recipient is picking up cash, they’ll need to present this at collection.

What are the ways I can transfer money to Australia from the Philippines?

A few options include:

  • Electronic funds transfer with your bank
  • An online money transfer service
  • Using a cash transfer provider
  • An international money order

Let’s look at these options in more detail.

Electronic funds transfer with your bank

Most banks will send money to an Australian bank account and exchange your currency into Australian dollars. This method is also known as an international money transfer, a telegraphic transfer (TT), a wire transfer or a SWIFT transfer.

However using a bank will come at a cost. Most banks will charge a flat fee and poor exchange rates, which can have a huge effect on how much the transaction ends up costing you. Additionally your bank and the bank at the other end of the transaction could charge “sending” and “receiving” fees.

Online money transfer service

Alternatively you can use an online money transfer or foreign exchange company such as WorldRemit. Simply tell the company you choose how much money you want to send to Australia and they’ll quote an exchange rate, convert the funds, and send them to your nominated bank account.

You can send the funds in a number of different ways including bank transfer, using a debit or credit card, or POLI transfer (real-time online debit payment). You’ll need to set up a separate account with a transfer service, but these services are often much cheaper to use when you are receiving between $1,000 and $1,000,000 and will almost always offer a better exchange rate than the banks.

Cash transfer provider

Money transfer companies such as Western Union and MoneyGram can send your money abroad using cash or EFTPOS. In the Philippines, you can send money through these companies in-person at any of their agent locations nationwide. While this cash transfer option is usually extremely quick, it can be expensive. The fees involved in transferring money overseas can vary depending on a range of factors, including how much money you’re sending and from where you’re sending it.

International money order

Safer than sending a personal cheque overseas, an international money order (IMO) is when you give your money to a bank or post office and get an international guaranteed cheque. Think of it as the international equivalent of a bank cheque. Once you’ve posted the cheque to the recipient, they can cash it at their local bank and deposit the money into their own account. While this transfer method is secure, posting a cheque will take longer than an electronic transaction and can cost more. You’ll have to pay to purchase the IMO and there may be transaction costs when the money is deposited into the overseas account.

How long does it take to transfer money to Australia?

Services like Paypal or Western Union (cash pick-up) are considered to be the fastest options as the transfers can be completed in minutes. If you are sending money from one bank account to another bank account it will usually take 1-2 days, depending on the currency you’re converting from. If you’re using an international money transfer company, generally it will take between 1 or 2 business days to send the money to the service, and for the service to convert the money and send the funds to the recipient in Australia.

How much money can I transfer to Australia?

Banks and Paypal don’t have a minimum transfer amount but some online money transfer companies do. If you’re sending less than $500 to Australia via an international money transfer service make sure you check the company’s website for the minimum transfer amount. Banks and online money transfer companies will often have daily and yearly maximum transfer limits, but the amounts vary between providers.

Keep in mind that the Australian Transaction Reports and Analysis Centre (AUSTRAC) requires financial institutions and money transfer services to report any transactions into or out of Australia that are above $10,000. Therefore if you’re sending more than $10,000 to Australia, you may be required to provide some additional information to the money transfer provider before it can complete your transaction.

How much does it cost to transfer money to Australia?

How much a transfer costs will largely depends on three things — the amount you’re sending, how you pay, and the exchange rate offered on your currency. Here are some fees to consider:

  • Exchange rate. Some companies will offer you the baseline mid-market rate, the midpoint between worldwide supply and demand for that currency (or the rate you see on Google or XE), while others will set their own exchange rates by charging a commission on top of the mid-market rate. To get the best deal you should make a short list of providers and check their exchange rates over a number of days or weeks before choosing one to go with.
  • Transfer fees. International money transfer services will charge a standard transfer fee to transfer your money from one country to another. This will either be a flat fee, or as a percentage of how much money you’re sending. The banks are known to charge hefty international transfer fees compared to online providers.
  • Additional fees. Banks and money transfer companies may charge a receiving fee to receive funds from overseas into a nominated Australian bank account, a cancellation fee if you need to cancel the transfer for any reason, and an amendment fee if you need to change the payment details for a transfer. Additional fees may also be charged depending on the how you transfer your money to the service, with debit and credit cards attracting higher fees than bank transfers. Make sure you check each provider’s website for their fee terms and conditions.

What will I need to send a money transfer to Australia?

In general, to initiate an international money transfer, you’ll need to provide:

  • Your full name and contact information.
  • Government-issued ID, such as your driver’s license or passport.
  • Your recipient’s full name and contact information.
  • How you’re sending the money, whether for cash pickup at an agent location or for deposit to your recipient’s bank account.
  • If a bank transfer, your recipient’s bank name, routing and account numbers and SWIFT code.
  • Accepted method of payment.

What is a SWIFT code?

Short for the Society for Worldwide Interbank Financial Telecommunication, a SWIFT code is an international bank code used for incoming transfers. Overseas banks each have a unique SWIFT code that identifies which bank to send money to.

How to save on international transfer fees and charges

  • Look for free offers for the first transfer. You’d be surprised at the lengths that new money transfer companies are willing to go to for your business. Many transfer companies offer you your first money transfer for free when signing up, so keep your eyes peeled.
  • Lock in a forward exchange contract. If you don’t have enough funds available but want to secure a certain rate now, you can enter into a forward contract. This ensures that you get the lowest rate and the ability to purchase or sell your currency now, at the prevailing rate.
  • Avoid your bank. Banks are notorious for charging hefty transfer fees and large commissions on the exchange rate. By shopping around for an online money transfer provider instead, you could save on the transfer fee and get a more competitive exchange rate.

How to compare international money transfer companies

Take note of the following features when comparing online money transfer providers:

  • The transfer fee. This is the price of the international money transfer, and it varies between providers.
  • Exchange rate. The rate of exchange between Australian dollars and the foreign currency. A more competitive exchange rate will allow you to send more money to your recipient.
  • Minimum/maximum transfer limits. How much money are you able to transfer with the service?
  • Transfer speed. The time it takes for the money to reach the recipient. Transfer time ranges from minutes to half a week.
  • Payment methods. Can you pay using your credit card or debit card?
  • Collection options. Do you have the choice of collecting the money as cash or having it deposited into a local bank account?

Pros and cons of sending money to Australia with an international money transfer service

Pros

    • Simplicity. Most money transfer systems offer simplicity when it comes to sending and receiving money.
    • Variety. There are various methods one can use to receive money. This is a bonus because you are not forced to work with one service provider.
    • Security. If you use a trusted money transfer provider, you can rest assured that your transaction is safe and secure.
    • Lower fees. Most international transfer providers have applicable fees that are lower than most banks.
    • Transparency. Most international transfer providers will clearly state their fees and exchange rates, and will keep you informed about how your transition is tracking.

Cons

    • Separate account. To use an international money transfer service you’ll often need to open up a seperate account in addition to having your bank account
    • Online confidence. You must be comfortable and confident with using online money transfer services.
    • Not all currencies supported. A number of currencies around the world are not yet supported by these services so you may need to use an alternative provider if you’re sending a less popular currency.
    • Time. Because these services require you to transfer money to them, the time it takes to transfer an amount overseas will sometimes be longer than if you use other methods.

Cash pickup locations in Australia

Frequently asked questions

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