How to send money overseas from Australia: a step-by-step guide

Sending money overseas from Australia has evolved significantly. While there are now faster and more affordable options available, the variety of services can make it difficult to know which one is right for your needs.

In this guide, we break down the international transfer process, explain the key costs to watch out for, and show you how to get started with a more modern, efficient approach.

Need to make an international transfer?Read our guide to the best ways to send money overseas.

Understanding international transfers

An international money transfer (IMT), often called an international wire transfer or remittance, is the process of moving money from an Australian account to an account in another country. In Australia, these services are provided by traditional banks and specialised money transfer businesses.

All legitimate money transfer services in Australia must be registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). This regulatory body monitors financial transactions to prevent money laundering and terrorism financing, ensuring your money is handled by a compliant entity.

How international remittance works in Australia

Most international transfers move through a global network called the Society for Worldwide Interbank Financial Telecommunication (SWIFT). This is a secure messaging system that banks use to send instructions to each other. When you send money via SWIFT, your money may pass through several intermediary banks before reaching its destination. This often results in longer wait times and additional fees at each step of the journey.

Alternatively, some modern providers — including Revolut — use local payment networks when possible. This means the provider holds money in various countries, allowing them to complete your transfer locally in the destination country, which is often faster and cheaper than the traditional SWIFT route.

Learn more about sending money with Revolut.

Comparing the methods to send money overseas

When deciding how to send money overseas from Australia, you generally have 2 main choices: using a traditional bank or a digital money transfer service. Here's what you need to know about both:

International bank transfers

Most Australians are familiar with sending money through their usual bank. You can usually do this via online banking, a mobile app, or by visiting a local branch.

• Reliability: banks are highly regulated and provide a sense of security for larger transfers.
• Convenience: since your money is already in the account, the setup is minimal.
• Cost: this is often the most expensive method. Banks generally charge a flat transfer fee (which can range from $10–30) and add a margin to the exchange rate.
• Speed: transfers can take between 3–5 business days depending on the destination and the number of intermediary banks involved.

Money transfer services

These are dedicated services designed specifically for international transfers. Many of these providers operate entirely online or through mobile apps.

• Lower costs: because they focus on high-volume currency exchange, they can often offer better rates and lower fees than traditional banks
• Specialisation: they often provide tools like currency converters and rate alerts to help you plan your transfer
• Variety of delivery options: some services allow for bank deposits, while others offer cash pickup or delivery to mobile wallets

The cost of sending money overseas

The most important part of any international transfer is understanding what you're paying​ for.

1. The exchange rate

The exchange rate you see on Google or news sites is the mid-market rate. This is the midpoint between the buy and sell prices of 2 currencies. Most banks and providers don't offer this rate to cutomers. Instead, they add a margin or a markup.

For example, if the mid-market rate for AUD to USD is 0.65, but your bank offers you 0.63, they're taking a 2-cent margin on every dollar you send. Always compare the offered rate against the mid-market rate to see the real cost.

2. Upfront transfer fees

This is the visible fee charged for the service. It might be a flat fee (like $15 per transfer) or a percentage of the total amount (e.g. 0.5%). Some providers waive this fee for larger amounts, but you should still check the exchange rate margin.

3. Intermediary and receiving bank fees

When using the SWIFT network, intermediary banks may deduct fees from the amount as it passes through. Additionally, the recipient's bank may charge a fee to receive an international payment. This means the amount you send may not be the exact amount that arrives in the recipient's account.

What information do you need to send money?

Before you start your transfer, you need to gather some specific details about your recipient. Having these ready will ensure the transfer is processed without delays. Here's what you should ask for:

• Recipient's full legal name: as it appears on their bank account
• Recipient's address: some countries require a physical address for compliance reasons
• Bank name and branch address: the details of where the money is going
• Account number or IBAN: an IBAN is standard in Europe and the Middle East
• SWIFT/BIC code: an 8 or 11-character code that identifies a specific bank globally
• Reason for transfer: you might be asked to select a reason, such as 'family support' or 'payment for goods'

Comparing providers for the best way to send money overseas

To find the best way to send money abroad, you should evaluate providers based on more than just the headline fee. We recommend looking at the following factors:

• Total cost: add the transfer fee to the exchange rate margin.
• Transfer speed: does the money need to arrive today, or can it wait a week?
• Payment methods: can you pay by bank transfer, debit card, or credit card? Note that credit card payments often incur cash advance fees from your card issuer.
• Customer support: is help available if something goes wrong?
• Transfer limits: some providers have minimum or maximum amounts you can send per day.

Read our guide to finding the best way to send money overseas.

Risks to consider when making an overseas wire transfer

While sending money is generally safe, it's important to be aware of potential risks and considerations.

Market volatility

Exchange rates change constantly. A rate that looks good in the morning might change by the time you complete your transfer. Some providers allow you to lock in a rate for a short period, while others apply the rate at the moment the transfer is processed.

Scams and fraud

Always make sure you know the person or business you're sending money to. Be wary of requests for money from people you've only met online or for 'investments' that promise unrealistic returns. Once an international transfer is completed, it's often impossible to reverse.

Intermediary bank deductions

As we mentioned earlier, if your transfer goes through the SWIFT network, the final amount received might be slightly less than what you sent due to intermediary bank charges along the way. This is a standard part of traditional banking but is something to keep in mind if you need an exact amount to arrive for a bill or invoice.

Why consider Revolut for your international transfers?

We provide a good alternative to traditional international wire transfers, focusing on competitive rates and a slick mobile experience.

Competitive exchange rates

We use competitive exchange rates. On weekdays, you can exchange currencies within your plan’s fair usage limits without paying any extra currency exchange fees. We show you the conversion upfront so there are no surprises.

Speed and tracking

Many of our international transfers are near-immediate. We use local payment networks where possible to avoid the delays associated with the SWIFT network. You can track your transfer every step of its way in-app.

Hold and manage multiple currencies

A Revolut account allows you to hold and manage over 30 currencies all in one app. This means you can exchange your Australian dollars at a time when the rate is favourable and hold them until you're ready to send money overseas.

Explore international transfers with Revolut.

How to send money overseas from Australia with Revolut

Follow these steps to get your transfer moving:

1. Download the Revolut app: find us on the App Store or Google Play Store.
2. Enter your details: provide your personal information, including your full name, Australian residential address, and email.
3. Verify your identity: as a regulated financial institution, we need to know who you are. You'll need to take a clear photo of your ID (such as an Australian driver’s licence or passport) and a selfie in-app.
4. Add money to your account: link your Australian account or use a debit card to add the money you want to send.
5. Choose your destination: go to the Payments tab, tap the + symbol in the top-right corner, and select International.
6. Enter recipient details: add the recipient's bank details (IBAN, SWIFT/BIC, or account number) and the amount you want to send.
7. Review and send: check the exchange rate, fees, and the estimated arrival time. Once you're ready, tap Send to start the transfer.

Exchange and remittance fees, fair usage limits, and T&Cs apply. Exchange rates and fees shown are for illustration only.

The information provided is accurate as of 5 May 2026.