Saturday, July 13, 2024

The Best Way to Transfer Money from Australia to USA

Gone are the days when people had to spend a lot in hidden fees to transfer money from Australia to the USA. The transfer charges used to be more if they used a local bank. Overall, it was a confusing and complicated process along with being expensive but not anymore. These days there are several money transfer services that people use. Since you asked, here is the best way to transfer money from Australia to USA.

Watch this YouTube video: https://www.youtube.com/watch?v=SnPZWB8M5dM

Best way to transfer money from Australia to USA

1. OFX

ofx

OFX or Ozforex has offices around the world. Recently they have stopped charging the flat transfer fee for people in the USA. Thus, transfers from the USA are free. However, a flat fee is applicable for sending smaller amounts from anywhere else to the USA.

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OFX adds a margin to the exchange rate when converting currencies. Thus, the exchange rate would be slightly more than that of what you would get from mid-market or online currency converters that display wholesale rates.

The minimum transfer amount is set at 150 USD for a single transfer and 250 USD for regular payments or recurring transfers. It takes just 1 business day for the money to reach the intended account.

2. XE Money Transfers 

XE Money Transfers

Xe is a great option for transferring money overseas. There is no transfer fee and no minimum amount requirement. The exchange rate depends on the amount of money you send. Thus, the more you transfer, the better the exchange rate you would get.

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They have great telephone customer support. It takes between 1 and 4 days for international fund transfers.

3. Wise

Wise

Formerly known as TransferWise, Wise is one of the best and most popular services to transfer money. This is because Wise offers the wholesale or mid-market exchange rate. They have easy-to-calculate and transparent transfer fees.

Their Borderless Account makes it ideal to transfer funds between countries. The transfer fee is fixed at 0.45% for up to 135,000 USD and 0.35% for sending more than 135,000 USD. They charge a transaction fee of 2 USD on top of that. It takes between 0 and 1 business day for the recipient to receive the money.

4. WorldRemit

WorldRemit

For sending small amounts of money, WorldRemit is an amazing option. They offer more flexible delivery options and competitive exchange rates than Western Union, MoneyGram, and PayPal. WorldRemit specialized in small remittances making WorldRemit perfect for personal fund transfers internationally.

This service provider charges a fee of AUD 3.99 per transaction. You can send a maximum of 50,000 USD. They also add a margin to the exchange rate. Depending on the mode of transfer, the delivery time varies. It takes about 3 business days for a wire transfer.

All the above-mentioned money transfer services have been sorted based on transfer fees, exchange rates, and ease of use. Needless to say, they are safe to use. Each of them has a strong customer support team to deal with any issues. They take their legal responsibilities with utmost seriousness. Let us know in the comment section below, which according to you is the best way to transfer money from Australia to USA.

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Dipanita Bhowmick
Dipanita Bhowmick
Dipanita Bhowmick: I am a content writer with 13+ years of experience in various genres, allowing me to adapt my writing style to diverse topics and audiences. Alongside my passion for creating engaging content, I have a deep interest in esoteric knowledge, constantly exploring the mystical and unconventional realms for inspiration along with spiritual and personal growth.

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