How to send money to Norway from Australia with the best AUD-NOK rate

For an $2,000 transfer to Norway, these are the best options right now:

Cheapest

Wise is cheapest when funded by bank transfer with bank deposit for the payout. Your recipient gets 13,335.72 NOK, which is 0.27% more than the next best option.

Fastest

OFX delivers 13,300.29 NOK in 6-12 hours when you use bank transfer and choose bank deposit as payout.

If you need money urgently, we've put together a guide on instant money transfers.

PayID and Osko move Australian dollars between local accounts.

When a money transfer company accepts PayID, it collects the AUD in Australia and then handles the conversion and payout in Norway.

Confirm the registered business name shown by your bank before approving the PayID payment.

The bank or remittance company reports international transfer instructions to AUSTRAC.

This applies to international transfers generally, rather than only those above A$10,000.

You do not normally submit the international transfer report yourself.

A separate threshold report applies when a transaction involves A$10,000 or more in physical cash.

Large or unusual transfers can still trigger source-of-funds checks. Keep the sale agreement, invoice or bank statement that explains the payment ready.

Australia does not generally tax a genuine cash gift simply because you send it to family in Norway.

Gifting money can still affect income-tested or asset-tested Centrelink payments.

Services Australia can continue assessing gifts above its gifting free areas under the income and assets tests.

If you or your partner receive a relevant payment, check the gifting rules before sending a large amount.

The Financial Claims Scheme protects eligible Australian-dollar deposits with an Australian-incorporated ADI, up to A$250,000 per account holder per ADI.

It does not automatically cover money held by a non-bank transfer company.

In case of issues, if a complaint is not resolved, the Australian Financial Complaints Authority is the free external dispute service for member financial firms.