Discover the best ways to send money to Australia with trusted providers like Wise and OFX. This guide covers transfer costs, delivery times, and how Australia’s banking system (using BSB and account numbers) makes receiving funds fast and hassle-free.
|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
Sending money to Australia is straightforward with today’s digital transfer services. Whether you’re supporting family, paying invoices, or funding a property purchase, this guide breaks down your best options, what to look out for, and how the Australian banking system works.
⸻
• Currency: Australian Dollar (AUD)
• Banking System: Highly regulated and stable; fast domestic payments via BSB and Account Number
• Popular Providers: Wise, OFX, Revolut, Western Union
• Fees: Vary by provider — typically 0.4% to 2.5% of the amount sent
• Speed: Most transfers are completed within 0–2 business days
⸻
| Provider | Speed | Typical Fee | Exchange Rate Margin | Notes |
|---|---|---|---|---|
| Wise | 0–1 days | Low fixed + % | Very low (~0.5%) | Local deposit into AU account |
| OFX | 1–2 days | No transfer fee | ~0.6%–1.0% margin | Great for large amounts |
| Revolut | Instant–1 day | Varies by plan | Tight mid-market | App-based convenience |
| Western Union | Minutes–1 day | Higher fees | Higher margins | Cash pickup also available |
✅ Tip: For under AUD $10,000, Wise offers the best combination of speed and cost. For large transfers over AUD $20,000, OFX is often more cost-effective.
⸻
• Recipient’s full name
• Recipient’s BSB code (6-digit bank identifier)
• Account number
• Purpose of the transfer (required by some services)
• Your ID (for KYC/AML compliance)
⸻
Australia’s banking system is modern and efficient, with a few key traits:
• Australian bank accounts are identified by a BSB code (Bank-State-Branch) and account number.
• Most international transfer services (like Wise or OFX) convert your payment into AUD and deposit locally, using BSB + Account details — no SWIFT code needed.
• Many transfers within Australia are now cleared instantly through the New Payments Platform (NPP).
• If the transfer provider supports it (like Wise does), your recipient may receive funds in seconds.
• Most Australian banks do not charge fees to receive money domestically.
• This gives Australia a major advantage over the U.S., where banks often charge for incoming wires.
• Ensure the BSB and account number are entered correctly — the system does not always verify names.
• Mistyped numbers could send money to the wrong account.
⸻
Sending money to Australia is low-hassle with digital platforms like Wise and OFX. Thanks to Australia’s local banking system (BSB/account), transfers are usually fast, reliable, and free of receiver charges.
⸻