From balmy beaches to scrumptious cuisine, many Aussies dream of retiring overseas. But moving halfway across the world is no easy job, and requires a lot of financial planning, especially if you’re looking to be free of money worries by the time you jet off to your retiree’s paradise. Often, you’ll be dealing with big sums of cash, whether that’s your pension, super or life savings.
Whether you need to send money to family living outside Australia, pay business suppliers or buy an overseas investment property, you might be wondering just how to transfer money overseas.The good news is, the process can be pretty simple as long as you start out on the right foot - the tricky part is finding the cheapest way to send money overseas, so you get more bang for your buck. But that’s where we come in.We’ve broken the process of transferring money internationally down into a few easy steps, to help you. In a nutshell, what you’ll need to do is:
With close to 100,000 Sri Lankan-born residents in Australia and even more with family and friends in Sri Lanka, it’s no surprise that many Australians are looking for ways to send money there for a variety of reasons - from purchasing presents for family, to buying property.
Looking for an easy and reliable way to set up a regular international transfer for your overseas business transactions? Well, whether it’s for making recurring payments for goods you’re importing or freelancers you’ve employed, you need to have an efficient foreign exchange account in place that doesn’t affect your company’s profits.
You’ve been living overseas and the time has come for you to move back to Australia. The flight is booked, the movers organised, and now it’s time to figure out the best way to bring your money back to Oz. Regardless of whether you’ll need to transfer $1000 or $100,000, this guide will outline how to get your money repatriated in the safest and most cost effective way possible.
Whether you just bought property in Bali or invested in a business in Shanghai, if you’re looking to transfer a large sum of money overseas, we’ve got some great tips here to help you get the most bang for your buck.
Looking to escape Australia’s sweltering summer by heading overseas to a more bearable climate? Realistically you know you can’t afford the hefty prices of a hotel for a couple of months so why not look into renting a house or apartment, it could be a much more viable alternative. There are plenty of advantages to renting a property overseas whether you choose to a Tuscan villa, a property on the Mexican Pacific coast or a unit in the hub of Dublin. Read on to learn all you need to know about renting a property overseas, you’ll be pleased to discover it’s a relatively stress free process.
There was a time when paying an overseas bill required a lot of paperwork, paying exorbitant bank and foreign exchange fees and lots of your time. These days needing to make an international payment can be as simple as logging onto your smart phone and in a few clicks you’ve transferred money across the globe.
An IMT is a great way to ship funds overseas, but it isn’t the best solution in every situation, as we all have different travel money needs. So in this guide we’ve run through everything from how international money transfers work to some of the main alternatives to help you decide which will work best for you.
When it comes to sending money across the globe, you’ll generally have two main options - to make the transfer with the familiar face of a bank or hop online and use an international money transfer specialist.
Whether you have just landed a job transfer, are off on a backpacking gap year adventure, packing up to study abroad or decided to emigrate to the far corners of the world, one thing you’ll want to do right is move your money across borders in the most cost effective way possible.
It could be that you’re starting a new online business or expanding your existing business and for the first time you’ll need to make regular business to business (B2B) international payments to a supplier, contractor or possibly even staff in an overseas office.
You might think that international money transfers are mainly handled by the person sending the money, but whether you’re an Aussie expat living abroad, a visitor calling Australia home for a while or a business owner receiving international payments, there are a few things you should keep in mind before collecting funds transferred from overseas.
For many people, needing to send money overseas isn’t an everyday or even an every year kind of thing, so when you are in the situation when you do need to send money to someone or a business overseas in a one off situation, transferring money across borders can seem kind of daunting.
So you need to send a small amount of money overseas - say $200 for a birthday present, or $300 for your backpacking son’s final flight. It shouldn’t be a big deal to send a small amount, right? And it certainly shouldn’t cost you an arm and a leg in fees.
As an expat you’re bound to have to send money internationally at some point in time. It may be a one off or it may be on a regular basis. Here are some potential situations for sending money home or transferring funds from back home:
Whether your grand backpacking travel plans involve a visit to every continent on earth in a six month period or you’re planning on a single destination for your gap year adventure, one thing you’ll definitely need to do is transfer money into another currency from the country that’s on your passport.
Anyone looking to transfer money overseas knows the importance of securing a competitive exchange rate. But what if you could get your hands on the ‘real’ exchange rate, or close to it, that generally only applies to banks and FX providers, otherwise known as the mid-market rate? Well, now you can, thanks to an innovative new concept dubbed peer to peer transfers.
You’ve found your dream car but unfortunately you can’t purchase it on Aussie shores or perhaps your next set of wheels may be cheaper to buy abroad. Regardless of your reason for buying a car overseas there’s a lot you need to consider before making the purchase. The last thing you want, is to lose half your savings to high rates and transfer fees! If you follow this guide, you’ll learn what to look out for when making an international money transfer to buy a car overseas…and if you take on board our hot tips, it will be a smooth, safe and secure ride!
As you let your fingers do the work, you discover your dream boat online at half the price that what it costs here in Australia. Only problem, it’s halfway around the world on the Mediterranean coast! This could be a challenge, not only shipping it to Australian shores but paying for it too. Whether you’re buying a fishing boat, yacht or large motor cruiser (all of which cost a substantial amount of money) from a remote location, the most cost efficient way of paying for it is by making an international money transfer through a foreign exchange provider. However, keep in mind, it costs around $40,000 to freight a yacht from Europe to Australia.
If you’re new to international money transfers then you’re in the right place, this fast guide will run you through all the essential info you need to know and be aware of when transferring funds overseas from Australia.
Thinking about buying a house in Norway? Then an international money transfer is probably high on the horizon. You can even transfer money to family and friends who live in Norway or for your business there. And if you’re not familiar with what to do, then read on, we’ll give you a quick sticks break down on the procedure and even a few tips.You travelling to Norway for a holiday? Then it’s a good idea to read up on Mozo’s Travel Money section. There you see great information on transferring Australian money to Norwegian krone, even what you need to know about the most suitable travel cards and exchange rates.
Sending money to Sweden is simple and easy to do which is especially useful if you’ve got money matters to deal with in Sweden. Whether you’ve invested in a business or property in Sweden or have money to send to family or a friend, we can help you iron out a few of the creases. Just spend a moment familiarising yourself with certain terms and conditions that Mozo explains below before making an international money transfer.
With Mozo’s easy-to-read guide, you can send money quite easily to Saudi Arabia. If you’ve invested in a business or property in Saudi or have money to send to family or a friend, then knowing as much as you can on IMTs may help you along the way. Want to transfer money to Saudi riyal for your next holiday to Saudi? Then you need to read Mozo’s Travel Money section. That way you’ll get to know everything you need when it comes to choosing the right travel cards and exchange rates.
If you’re making a career move and migrating to the United Arab Emirates (UAE) for a while, buying property there could be on the cards. Alternatively if you’re doing business or have family and friends that live there, you may one day want to do an international money transfer.
If you’re wanting to send money to the Philippines from Australia, then you’ve come to the right place. Whether you’re transferring money between business, buying a house, sending money to loved ones or migrating there, then an international money transfer is the way to do it.
If you're buying property in Denmark, doing business over there, or have family and friends who live in the capital of Copenhagen, chances are there’ll come a time when you need to send money overseas. Whether it's a one-off transaction or a regular transfer, we’ll guide you with quick how-to tips to get you on your way. Take a moment to read about how an international money transfer to Denmark would work. A quick note before we get started: Given that this guide is for people sending money to Denmark, if what you're planning instead is a holiday or business trip to Denmark, then it may be a better idea to visit Mozo’s Travel Money section. There you can read up on everything you need to know about the best travel cards and exchange rates.
Do you have a business in Vietnam or are planning on purchasing property there? Are you considering transferring money from your account to a relative or friend? Then it’s a good thing you’re here. You’re about to read a quick guide on everything you need to know when it comes to converting Aussie dollars to Vietnamese Dong.
In 2011-2012, Indians were one of the largest groups of permanent migrants to Australia. With Indian citizens flocking to Australia, there are many personal reasons why people would need to transfer money to India. These reasons would include: Sending money as a gift to friends and family, help out a relative in a medical emergency, supporting family by paying bills, school fees etc.
Are you a business or property investor in Malaysia? Do you sometimes or regularly send money to family or friends? We know how important it is to save money where you can, so take a five minute break from your busy day to read how you can make an international money transfer work for you.
With Australia ranked one of the best countries in the world to live in, there’s little surprise more than 45,000 Thai people live here. The large number of Thai’s living here creates a high demand for sending money from Australia to Thailand. Reasons for making a money transfer to Thailand include; supporting elderly parents or grandparents, sending money as a gift to friends or relatives, purchasing goods and services for your business, paying wages to staff in Thailand. Whatever your purpose for sending funds to Thailand, make sure you shop around to find a decent exchange rate so you receive plenty of Thai Baht (THB) for your Australian dollars.
According to the World Bank, China is one of the top receiving countries for international money transfers, with Australia being a big contributor. The number of Australians investing in Chinese businesses and property is on the rise and there also continues to be a large influx of Chinese people migrating to Australia. In fact, the latest Australian Bureau of Statistics data shows Chinese migrants now make up the second largest group of overseas-born residents in Australia.
International Money Transfer (IMT) is a way of electronically transferring cash to a foreign country. You can use it to pay foreign contractors, to put money into your or someone else's foreign bank account or to fund an extended stay or permanent move abroad.
Wanna shout nan and her friends to a pub lunch for her birthday? Aren’t you lovely! Or her favourite. Whatever the situation, if you want to transfer money online from Australia to anywhere in the United Kingdom, you can. All you need is the right information like nan’s account name, number and a few other important details that we’ll go into later, and away you go! Well, not you, the money you’re about to transfer as a gift.
There’s a huge community of expats living in Hong Kong, with over 90,000 Australians residing there. Australia’s business ties with Hong Kong are also profound, so there are plenty of reasons why we would need to send money there. You may have to make a money transfer to Hong Kong to purchase goods and services for your business, after all the cost of labour is cheaper over there. Maybe you have relative living in Hong Kong and you want to send them money for their birthday. Whatever the reason for transferring money to Hong Kong, there are plenty of foreign exchange specialists who will send your money in a safe, secure and cheap manner.
In this day and age, sending money to Singapore is a relatively stress free exercise. With advances in technology, there are many easy and convenient ways to transfer money, be it to relatives living in Singapore or maybe you need to purchase goods and services for your business over there. Whatever your purpose for making an international money transfer to Singapore, make sure you take the time to compare and analyse exchange rates and fees before booking the deal. You want to ensure you receive as many Singapore dollars as possible for your Australian dollars.
Imagine being able to convert Australian dollars to yen then transfer it to any bank account in Japan, any time of day or night? Well thanks to online international money transfer agents, you can do just that.
New Zealand may be Australia’s greatest sporting rivals and it’s fair to say we definitely want to keep the Kiwis at bay after a Bledisloe win! But this doesn’t mean we won’t send money across the ditch! Here’s a list of reasons why you may make an international money transfer to NZ.
An international money transfer offers a convenient and secure way of sending funds overseas. A common destination to send money abroad is South Africa. It may be over 10,000km’s away from Australia but you can still send rand to South Africa in the matter of just a day through a foreign exchange transfer specialist. There are many reasons why people might need to send money to South Africa these include: Business purposes, investment property, gifts to relatives or friends, family emergency.
An IMT or an International Money Transfer is possible when you transfer money from account to account. The best part about Mozo’s guide on transferring money to Switzerland, is that it’s pretty straightforward. So if you don’t have much time on your hands, then Mozo’s the best place to be! Here you will learn about how and when to transfer at a pace that’s right for your personal situation.
The economic situation in Greece is pretty grim to say the least; most recently it made headlines all around the world when the country admitted it was in a severe debt crisis. The situation was so serious that many international money transfer providers and banks suspended transfers to Greece. Now it’s back to ‘business as normal’ for most foreign exchange providers, so you can resume sending money to Greece cheaply and conveniently. Here’s a list of personal and business reasons for making an international money transfer to Greece:
Mozo is straight up about how transferring money to Italy can be really easy and quick to do. We pride ourselves in knowing a whole lot about money matters, so just by living right here, right now, you know as much as we do that money certainly does matter – especially when it comes to making an International Money Transfer.
If you have a business transaction to make in Spain, want to purchase property there or have money to send to a relative or friend, then brushing up on making an IMT or International Money Order is what you need to do. Good thing you’ve come to the right place!
Thanks to this modern world we live in, sending money to Germany is a relatively stress free and economical exercise. With advances in technology, there are many easy and convenient ways to transfer money and many purposes for sending funds to Germany such as:
Well those fancy French crepes aren’t going to make themselves! What are you waiting for? Send your le tante some euros spontaneously, and she may even send you a classic French crepe in the post! Ok, maybe not ideal, but isn’t it nice that you have the freedom to convert Australian dollars to euros anywhere in the Euro Zone, any time you want?
If you have a bank account in the USA or have friends or relatives that live there, you may find yourself needing to transfer money from time to time. And that’s ok! It’s always possible with the help of an international money transfer. If you’re new to this, you need to know that an IMT is from bank account to bank account, not via cheque, cash or travellers cheque to account - it doesn't work that way.
Regardless of the size of your business you may find yourself in a position where you need to make an international money transfer, be it a one-off occasion or on a regular basis. Reasons for making a business money transfer include; purchasing goods and services for your business overseas or paying royalties and wages.
Australia’s sky high house prices are forcing buyers to look overseas to purchase properties. Why not, when you can get more bang for your buck with a ski chalet in New Zealand or a holiday home on the Spanish coast! But before you jump the gun and purchase that dream overseas holiday home or investment property there is a lot you need to consider when it comes to transferring money abroad. The quickest, cheapest and most efficient method to send money overseas is through a foreign exchange specialist. So have a thorough read of this guide as it will provide you with all the ins and outs of international money transfers for purchasing homes abroad.
As anyone with loved ones overseas can attest to, spending Christmas away from family is tough. But with travel bans and border closures still in place, that may be the reality for many Australians this year. Still, there’s no need to hit ‘cancel’ on celebrations just yet. Besides navigating time zones to Skype call your nan or sister on Christmas Day, if you’re looking to treat your loved ones to something extra special this festive season, cash is a popular gift option. Given the convenience, speed and low cost of international money transfers, it’s little surprise that they’ve become an attractive avenue for migrants looking to support - or in this case, pleasantly surprise - family back home. In fact, in 2019, Australians sent a whopping $7.44 billion across the globe according to the World Bank. But before you send off your first batch of cash, it’s worth doing your research on things like how to pick the right provider for your transfer and the biggest traps you’ll want to avoid. To keep you in the know, we’ve answered some of the burning questions you might have about Christmas money transfers below.
Exchange rates are looking favourable for Australians sending money overseas as the Aussie dollar rose off the back of US election results. Right now, the AUD is trading just below 73 US cents, according to the XE Currency Converter - up from around 71 US cents at the start of election week. This is the first time since mid-September that the currency has broken past 72.5 US cents. While the gap between US$0.71 and US$0.73 seems almost negligible, for larger international money transfers (IMT), this could be a difference of hundreds of dollars.IMT provider OFX’s senior corporate manager, Matt Richardson said Joe Biden winning the presidency boosted the market appetite for risk (known as ‘risk on’ sentiment). As a result, investors flocked to purchase stocks and high-yield currencies like the AUD, raising the value of these riskier assets. “The democrat led government is expected to implement significant Coronavirus relief programs and alleviate tensions with key global allies, creating a ‘risk on’ environment across financial markets,” Richardson said. “The Australian dollar has advanced against a basket of major counterparts in the midst of [this] ‘risk on’ move, creating an opportune time for those settling costs overseas to reduce the AUD expenditure or maximise their foreign currency return.“Conversely those sending funds back down under [would] suffer a higher cost or smaller return on the back to the AUD appreciation.” In other words, bigger savings are now on the table for individuals and businesses sending funds from Australia to countries like the US and the UK, thanks to stronger AUD/USD and AUD/GBP exchange rates. But you may lose out if instead you’re moving money from the US and UK to Australia.
Using your existing bank for international money transfers might seem like the simplest and most convenient option, but did you know that using a specialist transfer provider can make the process more streamlined and considerably more cost-effective?
With Christmas just around the corner, SendFX is giving out a special treat to Australians sending money overseas.For a limited time, if you register a free account with SendFX and make transfers over AU$1,000, you could be rewarded with a $100 EFTPOS gift card. This offer began on 31 October and will run for two months until the end of December. Once you’ve made your first transfer, the gift card should arrive in 30 days or less, allowing you to redeem $100 in credit at any checkout that accepts EFTPOS. Mozo Director Kirsty Lamont said for the one third of Aussies born overseas, international money transfers (IMT) have always a way to send income and support family back home, but this Christmas, they could also be a way to stay connected.“Christmas reunions won’t be the same this year as travel bans and social distancing measures keep us separated from loved ones overseas. That’s why cash gifts are such a savvy way around all those restrictions - they keep the tradition of exchanging presents on Christmas Day alive, plus they’re a lot more practical and welcome at a time when many are still struggling financially,” she said.