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How long does it take to send money overseas?

Depending on the method, an international transfer normally takes 1 to 5 business days.

Whether you're paying off a debt or sending an urgent transfer to a loved one, it's important to know how long it will take. The processing time for an international transfer will vary depending on factors such as the transfer provider and where you're sending the funds. Let's take a closer look at the average transfer speed and the factors that can influence its processing time.

How long does an international money transfer take?

At best, expect the following transfer times for domestic and international transfers.

  • International transfer speed - Between one to five business days, perhaps longer depending on the currency.
  • Domestic transfer speed - Within 24 hours is possible, particularly for bank transfers. Banks that support PayID transfers and the Osko network can process transfers within a few minutes or almost instantly.

When you send an international money transfer through your bank, you should be provided with an expected delivery date, though this isn't a guarantee of any sort. Settlement time varies based on many factors, some that are in your control and some that aren't:

  • Your bank - Smaller banks may take longer for international transfers, as they may not have an International Bank Account Number (IBAN).
  • Receiving bank - If you're sending an international money transfer to a bank other than your own, the banks have to communicate which can take time.
  • Time of transfer - Sending transfers earlier in the day is better. If you send it at the end of the day, it has to wait until the next business day to start processing. The same goes for the end of the week, or right before a bank holiday.
  • Type of transfer - Some banks offer expedited international money transfer services, but beware of high fees added to your transfer total.

How long it takes to send money overseas using an Australian bank?

Information taken from each bank's website.

  • Westpac: 2 business days, but may take longer
  • CBA: 3 days
  • ANZ: 2-4 days
  • NAB: 3 days

Finder survey: On average, how long do people say their international money transfer takes?

ResponseMaleFemale
Same day4.27%0.53%
1 business day1.67%2.11%
3-5 business days1.86%1.05%
2 business days1.11%1.41%
Unsure0.74%1.05%
5+ business days0.18%
Source: Finder survey by Pure Profile of 1110 Australians, December 2023

How to have international money transfer funds available immediately

When you are in a rush, or you just don't feel like waiting, there are ways to expedite the speed your money is transferred. By default, almost no international money transferred funds are available immediately, so use these alternatives to get your money faster.

Blue icon representing money transfers Image: Infogram

Online money transfer services

Companies like OFX and TorFX specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient's bank account, often in as little as a day.

Picture not described: BlueCoinsCashIcon_Infogram_94x62.png Image: Infogram

Cash transfers

Services like WorldRemit allow you to transfer cash for nearly instant pickup. While it's a fast way to send money, you may pay more in fees than you would with a digital money transfer service.

Let's crunch the numbers: Sending $1,000 to Indonesia

Let's say you need to send $1,000 AUD to IDR, to family in Indonesia. Here's what you might face as far as fees and exchange rates as of 10 November 2020.

Online money transfer serviceCash transferBank transfer
Fee$5$10$10 + additional correspondent bank fees
Exchange rate1 AUD = 10,218 IDR1 AUD = 9,940 IDR1 AUD = 9,883 IDR
Transfer speed1-2 daysMinutes2-5 days
Amount receivedIDR 10,164,444IDR 9,940,314IDR 9,785,127
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with IDR 379,317 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Indonesia in as little as 15 minutes.

Compare ways to send money

1 - 25 of 26
Name Product AUFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Revolut
Within minutes
$0
Sign up and get a AUD$15 top-up. For new customers only. T&Cs apply.
Send money with great rates and low fees in 25+ currencies. Plan fees apply.
Instarem
Within minutes
From 0%
Get zero fees on your first transfer to India, Malaysia, Thailand, Nepal, the Philippines, the US and the UK. T&Cs apply.
50% off transfer fees on your first transfer to all other destinations with minimum transfer of $200 and maximum of $7,999.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Airwallex
Within minutes
$0
Earn 10% cashback on your first $1,000 USD equivalent in eligible international card spend with Airwallex.
Streamline global payments across 150+ countries with fast settlements and competitive rates in over 60 currencies.
Xe Business Transfers
Within minutes
$0

Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
24 hours
$0
New customers registering in October 2024 can receive lower pricing on exchange rates. T&Cs apply.
Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Wise (TransferWise)
Best Rated Brand
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Remitly
Best Rated Brand
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
SingX
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Send Payments
Send Payments
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Qantas Business Money
Within minutes
$0
Earn 1 Qantas Point on every $1AUD equivalent converted in foreign currency. T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
OFX Business Transfers
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
WorldFirst
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Revolut Business
Within minutes
$0
Revolut allows your business to move money around the world quickly and cheaply with 25+ currencies and no maximum limit transfers. Plan fees apply.
Send business
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
CurrencyFair
Within minutes
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Western Union
Within minutes
From $0
Get Western Union's best exchange rate and $0 fee on your first online transfer.
Western Union sends money online to 200+ countries, with competitive rates for new customers.
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Bottom line

Using your bank to send money domestically and internationally is hardly ever the cheapest or fastest option. To learn more about how to send money more efficiently, read our dedicated guide with hand-picked options that covers both domestic and international transfers.

Frequently asked questions

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Tim Falk is a writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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