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Sending money home

uk
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73 posts
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Sending money home

My daughter would like to send money home from Australia once she starts getting paid, on an ad hoc basis, what would be the cheapest way for her to do this. I understand via the bank this can be an expensive option

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Australia
Australia
South Pacific
17 replies to this topic
Canberra, Australia
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1. Re: Sending money home

The truth of the matter is ..it will cost her more than is fair.

You can thank the Australia Government for that as they closed down all the small honest trades.

I have an account with a International trading account and there are no better than the banks.

The best advise is take the money out in cash.

We needed to do a large international trade, I took the money out in cash. It was cheaper to jump on a plane and fly there with a bag full of money.

Good Luck

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Australia
Australia
South Pacific
South Pacific
Destination Expert
for Hobart, Tasmania
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2. Re: Sending money home

Paypal.

Sydney, Australia
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3. Re: Sending money home

Some ratings of companies

https:/…

Dunedin, New Zealand
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4. Re: Sending money home

When I moved to live in NZ, I used World First which I see gets a good review on the site mentioned on the previous post. However they have not been so interested in my custom since I have only needed to bring over fairly small amounts each year.

Melbourne, Australia
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for Perth, Antarctic Adventures
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5. Re: Sending money home

I use PayPal to send cash internationally very regularly.

Sydney
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for Croatia
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6. Re: Sending money home

I am a CBA customer and do internet transfer. It costs me $22 each time and minimum amount to send is $500.

Sydney, Australia
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for Train Travel
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7. Re: Sending money home

She should look into Transferwise. They do not actually transfer money. They accept AUD that need to be transferred into GBP, and in the UK match that up with people who need to transfer GBP into AUD. It sounds like it should not work, but it does.

Edinburgh
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8. Re: Sending money home

Haven’t heard of transferwise but what you describe is what trading desks in banks do on a larger scale for commercial clients. Albeit they do this matching to hedge their own or clients forex risk, not to transfer funds.

sydney
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for Cambodia
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9. Re: Sending money home

If she intends to go home to visit or you decide to come here to visit have you considered opening a bank account and getting two cards on it - she banks it via one card and if you need to withdraw it in the UK you use the other card at an ATM. (or she could post you the 2nd card)

Sydney
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for Croatia
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10. Re: Sending money home

If you open an account, be careful which bank and what type of account. With standard accounts, withdrawing money overseas is very expensive. My bank charges $5 per transaction plus 3% of the whole amount.

City bank Plus account could work.

Edited: 17 February 2018, 19:31
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