Consider Your Options Before You Transfer Money To Australia To Friends In Need
One of the most well-known ways to transfer money to Australia is using a company as an agent. You can either use the Internet to do so or visit a location near you, indicating the amount you need to send, the name and location of your friend, and a password for when they pick up the money. They will then visit the nearest agent location near them to obtain the money. This should not be difficult to do in Australia, as there are more than ten agent locations in the Sydney area, over 20 in Darwin, and more than 50 in Perth. Such agencies charge about $20 to transfer money to Australia, and the maximum you can send in a month is about 2000 Australian dollars.
You can also wire funds to Australia through a few companies online. They simply work like a bank, allowing you to send money from your bank account or debit card to your friend's account. Just a few of the banks that can receive such transfers are Bank of Queensland, BankWest, Commonwealth Bank of Australia, National Australia Bank, and St. George Bank. Such transfers cost about $5, no matter the amount, and the funds will automatically be changed to Australian dollars before your friend receives them. There is also an HSBC, Bank of America, and a Citibank in Australia, who all offer wiring transfers, and there is a fee associated with such services. For example, Citibank charges about $20 to $30 per transfer, and requires the SWIFT code of the Australian bank. Remember that even though many banks exist in Australia that are also in the U.S., they are not necessarily connected, and thus charge you the same fees as if you were sending to a completely different bank.
If your friends are in Australia long-term and will need money regularly, or perhaps do not have a bank account and will need to purchase items online, a prepaid debit card can be a huge advantage. You would simply send your friends a debit card in the mail, call them with the PIN, and then add funds either online or via telephone. The fees to add money range from $5 to $10, and there is a transaction fee of less than a dollar. However, such a card is perfect for purchasing products online, and for about a $2 fee your friends can withdraw cash at an ATM using this type of card. If you value your own debit card, consider how much your vacationing friends will appreciate their own.
A tip to remember is that one U.S. dollar is equal to about 1.24 Australian dollars, so when you send money to your friends, they are actually getting slightly more for their dollar than they would here. The ability to transfer money to Australia can be invaluable when your friends need your help, and in most cases, the quicker, the better. When it comes to transferring large sums of money, the best choice is one that does not charge a percentage of what you transfer, but a flat fee. However, if you need to transfer money to Australia regularly, a low fee per transfer and an easy way for your friends to get the money is the most important choice, so keep your needs in mind before choosing.
