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Our top picks are chosen from some of the best money transfer services on Finder, but we don't compare every brand in the market. We've included them to help you make decisions faster, but keep in mind that they may not always be the best fit for you. Read our full methodology here to find out more.
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.
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.
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
Photo identification: Most providers require a driver's license, passport or other Australian government-issued ID.
A way to pay: Your options depend on the provider's services. Popular methods include cash, debit or credit card and bank account transfers.
Recipient information: You'll need their name (matching their ID) plus contact details. If sending to an American bank account, you'll need their account number, SWIFT and branch details.
Transfer number: The reference number – sometimes called a PIN, MTCN or tracking number.
Government-issued ID: An official ID, such as an American passport or driver's license.
The transfer amount: To know how much has been sent, usually to within 10% of the total.
Sender information: The sender's name and address and the transfer's country of origin.
We rated money transfer apps based on 5 main features including Apple store reviews, Google app ratings, app features, transfer speed and coverage. Below we cover the top 7 apps and the main reason they stood out.
Remitly - Money-back guarantee
Wise - Mid-market exchange rate
Revolut - UX experience
OFX - No max transfer limit
WorldRemit - Diverse delivery options
Western Union - Huge global network
Xe Money Transfer - Track currency pairs
There's no limit on how much money you can transfer with TorFX or OFX as both providers have robust platforms. Other providers have smaller limits, with Western Union you can send up to $50,000 AUD via bank account transfer.
The turnaround time for a money transfer to the United States depends on the provider and how you pay for the transfer. Expect your transfer to arrive within minutes if you pay using cash or with a debit or credit card. Paying by bank transfer can take longer – usually 2–5 days.
You can still make a money transfer if your recipient doesn't have a bank account. Look at cash transfer providers such as Western Union or MoneyGram where you can pay with cash and your recipient can collect it as cash on the other end.
Helen Champion is an associate editor at Finder. She has worked in communications for over 16 years and currently writes on a range of topics including insurance and money transfers in the hope of empowering people to make better financial decisions. During her broadcast career, she helped to produce hundreds of news and breaking news reports for Associated Press TV and ITV News. And in public relations, she managed several high-profile public relations campaigns for Macmillan Cancer Support, the General Medical Council and overseas for Qatar Foundation on behalf of BLJ Worldwide. Helen has a Bachelor of Arts in Journalism from the University of Lincoln, a passion for practising karate in the dojo and a deep love of making mischief with her sons.
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 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.
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.
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?
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.
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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