Western Union
- $0 fee on first digital transaction
- Option to send money without bank accounts
- Send money to 200+ countries
Find the best way to transfer money to the USA
Get a better deal on your next money transfer to the US.
OFX
- No transfer fees above $10,000
- 20+ years’ experience in FX markets
- Send money to over 170 countries
Qantas Business Money
- Cheaper conversion rates than banks
- Open global accounts in 11 different currencies
- Earn Qantas Points when you convert currencies
Whether you're sending money to the United States for personal or business reasons, bypassing banks in favour of a money transfer provider is a smart move. Research by the ACCC reveals that the big four banks often charge higher fees compared to money transfer specialists, which tend to offer more favourable USD exchange rates.
Based on the 13 providers we've compared, Revolut is among the cheapest for small transfers, with competitive exchange rates and fees starting from $0. Need a fast transfer? Instarem can get money to your recipient within minutes.
Best ways to send money to the US from Australia
The best way to send money to the United States depends on your payment method, the amount and how fast you need it to arrive.
- Online money transfer provider. When sending Australian dollars or US dollars, money transfer specialists typically offer better rates and cheaper fees than a local bank. Providers add a markup ranging from 0.4% to 3% onto the real exchange rate.
- Bank transfer. Bank transfers are an easy way to transfer money but charge extra for the convenience and are often slower. Based on our research, ANZ adds a markup of 2.83% when exchanging AUD to USD and CBA adds a markup of around 4.10% to the mid-market rate.
- Cash pickup. If you need your money to arrive quickly, doing a cash pickup with Western Union gives your recipient instant access to the money you've sent to their agent location. Travelex is also a popular choice due to convenient locations at airports and their partnership with Australia Post.
- PayPal. Although PayPal is more known for digital payments, it also allows users to transfer money overseas. They charge relatively expensive fees, making them only suitable for transferring small amounts.
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Cheapest way to send money to the US
Bank transfers are typically the cheapest way to get your money to the United States. Revolut and Western Union have some of the lowest bank transfer fees of the brands we've analysed.
Before transferring money, it's more important to look at the overall cost of your transfer. This has a couple of elements:
- Transfer fees. While still cheaper than your Australian bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
- Exchange rates. Another way money transfer providers make money is adding a margin to the mid-market AUD/USD exchange rate.
Certain services may give the mid-market rate but add fees on top. Others may have low fees but apply a markup on the AUD/USD exchange rate. Also, make sure to use a provider registered with AUSTRAC, every provider we compare complies with relevant laws in Australia and the US.
Finder Survey
We surveyed 1,100 Australians in December 2023 and over 57% of people were worried about a weak Australian Dollar for 2024. Also, North America was the 3rd most popular destination for international transfers at 11.11%, behind Europe and Asia.
Our expert says
"I used to use OFX to transfer money from Australia to the US. This product seems best suited for people who are doing larger transfers as they remove the fee if you send more than $10K AUD. As someone with a mortgage to pay in USD but who gets paid in AUD, I have to send money back from time to time to cover housing expenses. The cost of sending is usually 1 penny on the exchange rate, so if the AUD is fetching 66.7 USD, OFX will allow me to transfer for 65.7. It's been reliable and since I've made many transfers, it is relatively easy. Through comparing on Finder, I can see that there are a cheaper options like Wise which will save me around $70 USD each transfer of $10K, which is well worth the admin of setting up a new account."
Fastest way to send money to the US
Actual transfer times from Australia to the United States can depend on several factors including transfer amount, payment method and currency.
Here are some of the fastest transfer speeds to the United States:
- Revolut — within minutes
- Western Union — within minutes
- Instarem — within minutes
How to send money to a US bank account from Australia
To transfer money, you'll need the necessary documentation, your recipient's details and a way to pay.
- Compare your options.Use our table to find a money transfer provider that sends funds to the United States. One may be better for cash pickups while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site".
- Create an account.Sign up with your email address, some services will allow you to login via a Google or Facebook account. To complete KYC, provide your name, address, contact details and proof of ID. Fund your account with a bank transfer, POLi, PayID, or a debit or credit card.
- Provide your recipient's details.Enter your recipient's name and contact information. If you're sending straight to their American bank account, you'll need the account number, SWIFT or IBAN plus the bank branch's address.
- Enter your transfer amount.Check you're happy with the fees, exchange rates and transfer speed, then enter the amount. Double-check the total US dollars your recipient gets.
- Complete your transfer.Press send and keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.
Large money transfers
If you need to make a sizable money transfer, consider using a provider such as TorFX or OFX to secure a better exchange rate and benefit from its expertise handling large transactions.
Using a large transfer specialist can have the following advantages:
- Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
- Forex tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the USD exchange rate you want.
- Tax guidance. Large transfers may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on the Australian Taxation Office's latest advice.
- Phone service. If you want to talk your transfer through with someone, providers such as TorFX and OFX can give you support over the phone.
Top picks for sending money to USA
Revolut - Best for small transfers
Revolut is our favourite app with great rates on smaller transactions but doesn't have an online platform. On the standard plan, you transfer up to $2,000 per month fee-free. If you pay $9.99 per month for the Platinum plan, the fee-free limit jumps to $20,000 per month. Since arriving in Australia in 2019, they've disrupted the Big Four banks offering services such as travel money cards, share trading and crypto. Revolut isn't suitable if you're intending to transfer large amounts of money.
Why we picked Revolut:
- Get an excellent rate during weekdays
- Easy sign-up process and user-friendly app
- Among the cheapest providers when we compared rates on converting $1000 AUD to USD
- Trusted by 35+ million customers globally
TorFX - Best for large transfers
If you're transferring more than $5,000, we advise using a reputable currency broker with low exchange rate markups and no transfer limits. TorFX is just the type of service; they've been in business since 2004 and provide fee-free transfers.
Where TorFX shines is their customer service and forex tools. In Finder's customer satisfaction survey for 2023, 78% of people said they would recommend TorFX to a friend and rated 4.02 out of 5. Despite the positives, TorFX can't compete with Revolut or Wise for transfers below $2,000 and only support bank transfers.
Why we picked TorFX:
- TorFX assigns a dedicated account manager to help users with the transfer process and answer any questions.
- No maximum limit and strong banking relationships with JP Morgan and Lloyds Bank.
- Supports forex tools such as forwards contracts, limit orders and spot transfers
Western Union - Best for cash pickup
Started in 1851, Western Union is a brand synonymous with money transfers. With over 500,000 locations worldwide, they've built a huge network to serve customers. Western Union isn't the cheapest option but provides an easy way to transfer money, has flexible transfer options and supports a large number of countries. If you need to send cash to someone without a bank account, Western Union is an option worth exploring. Alternatives include MoneyGram and Ria.
Why we picked Western Union:
- 3,600+ agent locations in Australia
- Make repeat transfers quickly to friends and family
- They transfer around $80 billion every year
Qantas Business Money - Best for business transfers
If you're doing business in the US, Qantas Business Money could be a suitable option with fair exchange rates and perks such as loyalty points. Qantas is powered by Airwallex and claims to be up to 70% cheaper than Australian banks.
Through their Business Rewards program, you can earn 1 Qantas Point every $10 AUD equivalent on FX conversions. These points can be redeemed to save money on hotels, flights, and other purchases. It should take 1-3 business days to open an account if your documentation is ready. The likes of TorFX, OFX and Wise also support business customers
Why we picked Qantas Business Money:
- Setup accounts in 11 currencies
- Competitive exchange rates on business transfers
- Virtual company card with 0% transaction fees
- Appealing business rewards program
Is now a good time to send money to the US?
The Australian dollar was on the decline for most of 2023. After beginning the year at 0.68 USD, it climbed to a high of 0.72 USD in late January and is hovering around the 0.65 - 0.67 USD mark. Despite a tough year, experts are slightly more optimistic with their forecasts for 2024.
NAB is forecasting 1 AUD will be worth 0.73 USD exchange rate by the end of 2024, while Westpac is predicting the Aussie dollar will be at 0.70 USD in December 2024. Trying to predict the right time to transfer money is challenging given the environment. If you're unhappy with the current AUD/USD rate, forex tools such as a limit order or forward contract could help you get a better exchange rate.
Frequently asked questions
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Ask a question
What’s the cheapest and fastest way that my family can send money from Melbourne to California? Please give me the most trusted site.
Hello Marie,
Thank you for your comment.
If you’re looking for a fast money transfer to the U.S.A, you may want to check our list of same-day money transfer providers. You can see two popular money transfer companies that will let you transfer money to the U.S. within the day.
You can also check our guide on how to send money to the USA to compare other services and to know the steps on how to send money to the USA online.
I hope this helps.
Regards,
Jhezelyn
I have actual US dollars (hard currency) that I want to send to someone in the USA. Thus, I don’t need to change Australian dollars into US dollars. Does any company allow this, noting that they usually probably make their profit from the exchange rate.
Hi Darrel,
Thank you for your inquiry.
While there are services on this page that allow USD to USD transfers, they implement an exchange rate which you can compare or the amount received on the table.
Another factor to consider is the transfer fee which can reduce the value of the amount transferred.
You may opt to reach out to the services directly if you have any further concerns.
I hope this helps.
Best,
Maria
If I send money to China by using citibank plus account, how much total cost would expect?Citibank doesn’t charge but receiving bank or intermediary bank charge for the service. Say, Today I send money US$1000 to Bank of China. How much I have to send AU$ to receiver side to get US1000?
Hi Wolfgang,
Thank you for reaching out.
Please visit our guide to sending money to China from Australia to find more information including fees and exchange rates for multiple money transfer services.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you initiate a money transfer.
Regards,
Jodie