# Transferring money from USA to Australia



## chickensgirl76

Ok so I have posted this before and I cant find the post again. So my question is I am moving back to OZ and have a LARGE amount of cash that I wish to transfer to a new bank account(that I will setup online) in OZ. What is the best transfer company to use to transfer my money for a small fee???? TIA


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## pndaccountants

One my friend is doing business and he is transfer money on regular basis to Aus form US.

torfx australia

This is good for transfer and very cheap. Try this you will be satisfied with it's service.


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## travalla

This is a bit of an oddball suggestion but perhaps you should look into bitcoin. International transfers is in my opinion what bitcoin is best for.


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## JandE

Currencyonline part of HIFX had always been good. Good rates and no fees


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## Ozlot

I would back up the bitcoin option and will be using it more although my local credit union bank was great with a flat 45$ US transfer fee.


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## aussiefaqs

There is an app called WorldRemit, I have used it before and works great.


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## JandE

Ozlot said:


> I would back up the bitcoin option and will be using it more although my local credit union bank was great with a flat 45$ US transfer fee.


If a transfer can be done for USD to AUD through HIFX, Currency Online etc, with ZERO fees, can you show the benefit of transferring from USD to Bitcoin then Bitcoin to AUD with at least one fee, ($45 in your example), plus the margins on each currency transfer.

It seems more complex and costly.

USD10,000 at todays mid-rate of 1.336 would give AUD13,262.42 into a local bank, net.


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## tijanaoc

I've used Currency Fair several times, it is the cheapest and simplest option I have found by far.

You can use my referral link to get a free transfer and until May 4th (Star Wars day ) $45 in your account after your first transfer (minimum €1000 transfer or equivalent in USD). After Star Wars day it will be $30 I believe


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## davids32

I would suggest using Bitcoin or Torfx Australia for money transfer


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## markw

I just did a bank transfer from here to the Philippines, it was a flat $30, bank to bank, no matter how much cash. Is that a small or large fee in your opinion?
No worries about mistakes, no worries about it going missing, an actual bank branch to go into to make sure everything is correct.
Also if it is over $10,000 the aus bank will have to report it to the tax office so you will need to provide them with tax numbers etc


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## tijanaoc

Personally I would never use direct bank to bank wire transfer these days, with so many better and cheaper options available. The service I used (Currency Fair) gives you a miles better exchange rate than the banks and $4 transfer fee (for any amount). I saved about $150 for a $7000 exchange between the better exchange rate and lower fee. That's money in my pocket instead of the banks. 

I've used the service about 10 times so far, never had a single issue with funds going missing or anything of the sort, and after my first transfer a customer service rep (who was a local, not from an anonymous call centre in God knows where) called me on the phone to make sure everything went okay and to offer assistance if I ever need it. I really can't fault them in any way.


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## markw

tijanaoc said:


> Personally I would never use direct bank to bank wire transfer these days, with so many better and cheaper options available. The service I used (Currency Fair) gives you a miles better exchange rate than the banks and $4 transfer fee (for any amount). I saved about $150 for a $7000 exchange between the better exchange rate and lower fee. That's money in my pocket instead of the banks.
> 
> I've used the service about 10 times so far, never had a single issue with funds going missing or anything of the sort, and after my first transfer a customer service rep (who was a local, not from an anonymous call centre in God knows where) called me on the phone to make sure everything went okay and to offer assistance if I ever need it. I really can't fault them in any way.


I agree that the exchange rate is probably going to make the most difference in the charges, if i has going to do it more frequently that is where i would focus


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