Ways to send money overseas for Christmas that could help you save
With the holiday season on the horizon, many Australians are eagerly making plans to send money to their loved ones abroad for Christmas. However, the cost of international money transfers can quickly add up, eating into the intended gift budget. That's why finding the cheapest ways to send money overseas has become a top priority for many.
“Almost a third of Australian residents were born overseas, so it’s no surprise why so many people regularly move money from Australia back home. However if you’ve been sticking with your bank when transferring those funds, you could be losing out to poor exchange rates and high transfer fees,” Mozo’s spokesperson, Rachel Wastell said.
The good news is Australia is home to a number of specialist money transfer providers who offer far more competitive rates than the banks as well as fee-free transfers and speedy online services. They’re so affordable that if you’re sending US$5,000 from Australia, Mozo calculations at the time of writing show you could save AU$263 just by going with the average IMT specialist rate rather than the average big four bank rate.
Whether you're sending funds to family, friends, or business partners, join us in saying goodbye to being stung by hefty money transfer costs, and hello to these four top specialist money transfer providers who can help you keep more money in your wallet this Christmas.
Personal international money transfer comparisons on Mozo
I want to transfer
Today’s foreign exchange rates
- Excellent exchange rates, no transfer fees
- 24/7 transfers online, over the phone or through the TorFX app
- Personal account management and expert insights
$6,337 USD
IN PERSONn/a
BY PHONE$0
ONLINE$0$0.6337 USD
1-2 days
$200 minimum
- Send to 200+ countries and 100+ currencies globally, 48,000+ 5-star 'Excellent' ratings on TrustPilot
- Dedicated Australia-based client services team with personal account management for transfers over $20,000
- Send fees are charged on smaller amount transfers, additional fees are charged on debit and credit card payment methods.
$6,321 USD
- IN PERSONn/a
BY PHONEn/aONLINE$5 $0.6325 USD
1-3 days
none
- Fee Free transfers
- Talk to a human, 24/7. Sharp Rates and Fast and Secure transfers.
- Australian owned, ASX listed and Official Foreign Exchange Provider of the NHL
$6,322 USD
- IN PERSONn/aBY PHONE$0ONLINE$0
$0.6322 USD
1-2 days
$250 minimum
$500 monthly minimum for regular transfers
- 48 hour fixed rates, receive 5 fee-free transfers
- Fast, secure transfers, up to 8x cheaper than the banks
- Send and receive money in 20+ currencies
$6,317 USD
- IN PERSONn/aBY PHONE$5ONLINE$5
$0.6320 USD
1-2 days
Minimum transfer amount is $10 AUD
* The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction. These exchange rates are updated every hour.
^See information about the Mozo Experts Choice International Money Transfer Awards
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