Best ways to send money overseas from Australia

Whether you’re supporting family abroad, paying for a property overseas, or managing international business costs, finding the best ways to send money overseas from Australia is essential for keeping your costs down. The traditional method of using a major bank is often the most familiar, but it can also be the most expensive because of mark-ups and slow processing times.

In this guide, we’ll break down the different ways available to you in Australia, compare how specific providers work, and show you how to get the most value for your money.

This comparison is based on publicly available information published by other providers as of 3 March 2026.

You should visit their websites for confirmation of their most updated costs and charges.

What to know before you start

Before making an international transfer, keep these key points in mind:

• Compare total costs, not just fees: always check both the transfer fee and the exchange rate
• Understand the transfer network: SWIFT transfers can be slower and involve extra fees, while local payment networks are often faster and cheaper
• Gather recipient details: you’ll need their full name, address, and account details (including BIC/SWIFT or IBAN)

International money transfer with your bank

One of the most common ways to send money abroad is through your bank, often called an International Money Transfer (IMT) or wire transfer.

Banks typically use the SWIFT network, a secure global messaging system that allows money to move between financial institutions worldwide.

Pros:

• Widely available and familiar
• Secure and regulated
• Can send directly to accounts worldwide

Cons:

• Exchange rate mark-ups: banks often add a margin on top of the real-time rate
• Multiple fees: sending, receiving, and intermediary bank charges may apply
• Slower delivery: transfers can take several business days

Because of these factors, bank transfers are often convenient but not always the most cost-effective option.

Online money transfer services

Digital money transfer services have become a popular alternative to banks.

These providers typically offer online and app-based transfers, often with better exchange rates and faster delivery times. Here's what you need to know about them:

• Fees vary depending on payment method and destination
• Exchange rates may include a mark-up
• Some providers prioritise speed, while others focus on transparency

At Revolut, for example, we offer competitive exchange rates and fast international transfers. You can also enjoy fast, no-fee payments to friends who have an account with us. Revolut-to-Revolut transfers arrive in less than 20 seconds, no matter where either of you are in the world.

Best ways to send money overseas: fees and rates compared

To find the best provider to send money overseas, it helps to see the data side-by-side.

This comparison shows the cost for a Standard plan customer on weekdays. Pricing was collected from competitor websites and is accurate as of 3 March 2026.

Fair usage limits, weekend fees, and standard fees and T&Cs apply to our rates.

Wise

Wise is known for offering the mid-market exchange rate and charging a transparent percentage fee. This makes it a strong option for users prioritising clarity in pricing, although it focuses more on transfers than broader financial features.

Commonwealth Bank (CommBank)

CommBank lets you send international money transfers (IMTs) through its NetBank platform and mobile app. They currently have no transfer fees for most foreign currency transfers sent online. However, the main cost is often hidden in the exchange rate. It's important to compare the rate they give you against the mid-market rate to see the real cost.

National Australia Bank (NAB)

They offer no transfer fees for foreign currency transfers made through their app. However, like other banks, NAB makes money through a mark-up on the exchange rate so it's important to compare the exchange rate they offer with other providers.

Revolut

Revolut is designed as an all-in-one financial app, going beyond simple money transfers to provide a more complete way to manage your finances in one place. In addition to sending money overseas, customers can handle everyday spending, track budgets, hold multiple currencies, and access investment features.

For international transfers, we focus on combining speed, transparency, and competitive pricing, making us a strong option for both occasional and frequent transfers.

Fair usage limits, weekend fees, and standard fees and T&Cs apply to our rates. Weekend fees apply between 5pm Friday–6pm Sunday, New York time.

What is the cheapest way to send money overseas?

There’s no single answer to this question, as the cheapest option depends on several factors These include:

• The amount you’re sending
• The destination country
• Your payment method (bank transfer, card, etc.)
• Transfer speed requirements

How to find the cheapest option

To get the best deal, focus on the total cost, which includes:

1. The exchange rate margin: the difference between the provider’s rate and the mid-market rate
2. Transfer fees: fixed or percentage-based charges
3. Additional bank fees: intermediary or receiving bank costs

Even if a provider advertises low fees or $0 transfers, the real cost may be hidden in the exchange rate.

How to calculate the true cost of an international transfer

The real cost of sending money abroad comes from 2 main components:

1. The exchange rate mark-up

If the mid-market rate is 1 AUD to 0.65 USD, but a provider offers 0.63 USD for 1 AUD, that 2-cent difference represents a hidden cost.

Revolut gives you access to a competitive exchange rate. On weekdays, you won’t pay extra currency exchange fees as long as you're within your plan’s fair usage limits.

2. Transfer fees

Some providers charge upfront fees, while others include costs in the exchange rate. Banks may also charge additional fees for transfers initiated in branches.

Always check both elements together to understand what you’re really paying​ for.

There are more ways than ever to send money overseas from Australia. The key is to look beyond headline fees and understand the full cost of your transfer.

By comparing exchange rates, fees, and delivery times, you can choose the option that best fits your needs — and potentially save a significant amount of money on every transfer.

How to send money with Revolut: a step-by-step guide

1. Download the Revolut app: find us on the App Store or Google Play.
2. Enter your details: provide your personal information, including your name, Australian address, and email.
3. Verify your identity: take a clear photo of your ID (like your passport) and a selfie in-app. Once we've reviewed and confirmed your application, your account's ready to use.
4. Add money: link a card or make a bank transfer to top up your account.
5. Send: go to Payments and tap + Add new to send money.

Sources

1. Wise AU pricing: send money
2. Wise AU pricing: overview
3. Wise AU Pricing: receive money
4. Wise live exchange rates
5. CommBank international money transfer fees and charges
6. CommBank correspondent bank fees
7. CommBank foreign exchange rates
8. NAB international transfer fees and additional information
9. NAB personal banking fees and charges
10. NAB foreign exchange rates

This comparison is based on publicly available information published by other providers as of 3 March 2026 and is aimed at customers in Australia.

You should visit their websites for confirmation of their most updated costs and charges.

Please note that actual charges and services offered may change and vary depending on individual circumstances. For the most accurate and up-to-date information, we recommend visiting each provider’s official website.

This article and the information provided herein are not intended to constitute legal, regulatory advice.