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AUSTRALIA

Send Money To Australia

Although its often attributed with boomerangs and barbecues, there’s more to this wonderful country than first meets the eye. As well as being home to some of the best-known natural wonders, including the Great Barrier Reef and the Blue Mountain range, it is also home to over 1,5000 species of tropical fish. Whether you’re looking to view the modern metropolis that is Sydney, or view of Australia’s most influential ambassador, the Koala, there’s more than one reason to visit the country known as the land down under. 
Australia

Popular money transfer services that send to
australia

  • Tramonex
  • NzForex
  • Halo Financial

Currency Used

The only dominant currency in Australia is the Australian Dollar. When in Australia, it is common to hear the currency referred to as merely ‘dollars.’ When searching for currency, Australian dollars can be identified by AUD. As Australian dollars can only be used within Australia, they are not considered global currency, meaning that they cannot be used in any country other than Australia. This mean that if you were to leave Australia with money left over, you would either need to convert it back to your native currency, or simply use it the next time you visit Australia. 

Send Money with Bank Deposit

While sending money abroad was something of an endeavour in the days of old, the introduction and evolving of the Internet has meant that there are now a number of options available when it comes to sending money abroad. While it’s something that many banks can undertake, many finds the fees can be excessive, and the regulations confusing. As such, many currency exchange platforms have appeared that not only look to make the process simple, but also make the rules clear.   

In order to send money abroad, you will need to visit a currency exchange platform. While they all offer a similar service, you will find that there can be many differences to consider. With this in mind, a comparison tool can be used that will help filter out some platforms that suit your needs. Once you have selected your platform and signed up, you will be able to add payment details. From here you simply add the recipient’s details and the currency you wish to use. 

Send Money Through Cash Pickup

When it comes to sending money abroad, the currency will need to be exchanged, unless it being exchanged from an Australian bank account. However, there will be a time when the person in Australia will need access to an outlet that can provide them with cash. While there are a number of platforms that can be used for sending money abroad, not all of them will offer a platform that allows for the recipient to collect cash in Australia. In this regard, you need to ensure that the service you use has an outlet in order for the cash to be collected.   

If the money is sent from another country, then there will be an exchange rate involved, and this is where a comparison tool comes in handy. Sure, you could look yourself, but why bother when there’s an option that can do it an instant. From here, you will be able to compare what rates are available, and opt for the rate that best suits you. Once the cash has been transferred, the recipient will be able to collect their money from an outlet at the other end. 

Money Transfer Regulations

While sending money abroad is made easy in the modern age, that doesn’t mean that its without its rules and regulations. As such, you should ensure that you’re sending money to Australia using the correct process.   

While the majority of those who use a foreign exchange platform for honest means, there will be some that look to use it for more sinister motives. The regulatory body AUSTRAC (Australian Transaction Reports and Analysis Centre) collect data on any transaction of $10,000 AUD or more. While there will be there will only be a few users who wish to send such high amounts, it’s worth being aware in any event. AUSTRAC will gain data regardless in a bid to reduce money laundering.   

Another thing to consider is that they may some limitations on where the money can be sent. This can be especially true for countries that have diplomatic sanctions in place. Depending on the reason the money is being sent, it could be liable for tax. While there’s no problem in sending money to help out a friend or relative, if you’re making an investment overseas, then you need to ensure you’re complying with Australian tax regulations.