TorFX
It can be enough trouble keeping up with bills at home without having to worry about managing them from abroad. Nevertheless, you need to pay your home loan wherever you happen to be, and utility bills and business expenses often can't wait for you to return home. Or perhaps maybe you need to help out family living abroad.
International money transfers aren't complicated or expensive and newer online providers are undercutting the competition on exchange rates, fees and speeds — as well as making it easier than ever to get your money where it needs to go around the world.
You have a few options when it comes to paying bills overseas. One is for you to find out if your existing bank offers international bill-payment services, and your other option is to register with an online bill payment facility provider. In either case, bear in mind that all international money transfers, bill payments included, depend on exchange rates between any two given currencies.
| Response | Male | Female |
|---|---|---|
| Sending to family/friends | 6.31% | 4.04% |
| Paying bills | 2.6% | 0.88% |
| Investing | 1.86% | 2.11% |
| Travelling | 1.86% | 2.11% |
| Other | 1.67% | 0.88% |
| Relocating | 0.74% | 0.18% |
When it comes to receiving money from overseas, international transfer providers give you multiple options from which to choose. You can collect cash from a designated location, receive funds on a prepaid card, funds can transfer directly into your bank account, and certain providers also offer mobile wallet deposits.
Bear in mind that sending and receiving money internationally depends on exchange rates that are subject to change on a daily basis. In addition, service providers tend to charge a fee for such transactions, and they normally deduct this from the transferred amount.
Paying any international bill requires you to know if the amount remains the same each month or changes.
Businesses that offer international bill payments alternatives, in addition to charging fees, also make money by offering lower than existing market rates. This is why some businesses offer better rates than others.
The name of the service provider you wish to pay, your account number with the provider in question, and the amount you wish to pay.
This essentially depends on the provider you choose to deal with, because certain providers have such limitations in place.
Wondering how property prices in Australia compare with the rest of the world? We estimated the average cost of buying a city-centre apartment in 106 countries to find out.
If you're looking to transfer money out of Australia, read our guide on the four best transfer companies.
Compare Revolut with Wise on speed and cost to see which is best for your next money transfer.
If you need an alternative to Wise, check out how these options compare.
Does Wise offer deals or discounts on money transfers?
Check out our review of TorFX's fee-free money transfers.
A comparison of the money transfer services offered by Xe Money Transfer and Wise.
We pit Western Union and Wise head to head to determine which provider offers the best and cheapest way to send an international money transfer.
Free money transfers aren’t wishful thinking, some online remittance services let you send your money overseas for free.
Read our detailed review of OrbitRemit international money transfers, including exchange rates, fees, payment methods and safety.
I want $1045 US dollars to be received in the USA and Im sending this from Australia. How do I enter the calculate question please?
Hi Keith,
thanks for the question.
While our calculator doesn’t specifically allow you to work back from the amount you want to be received, you can try entering in different transfer amounts until you arrive at the $1045 amount. At the time of writing, it looks as though sending approximately $1,360 AUD would see you send amounts close to $1,045.
I hope this helps,
Marc.