Compare all the best ways to send money to Australia

The current average USD to AUD exchange rate is 1.533, but the highest in the past 7 days was 1.5418.

That could mean a difference of $50-120 AUD on a $7,000 transfer.

If you’re flexible, watching the rate for a few days might pay off.

If you’re transferring today, Wise has been the most consistent in offering strong AUD rates in the last 7 days.

Let’s say you’re sending $7,000 USD to Australia.

Your cost depends heavily on how you fund it:

• Bank transfer via MoneyGram: $490 fee and 2% markup

• Debit card via Xe: Flat fee of $0

If you want value:

• Bank transfers usually offer the best rates.

• Credit cards are the most expensive overall due to cash advance fees, even if fast.

• Debit cards can be a decent middle ground.

Avoid SWIFT transfers to Australia

AUD transfers over the SWIFT network are slower and more expensive due to intermediary fees.

Stick with providers that use local rails or account balance transfers, such as Wise.

Most people in Australia receive money by direct deposit into their bank account, and it's the easiest transfer option.

All local accounts use a BSB and Account Number instead of an IBAN.

MoneyGram is often the most affordable provider for AUD bank deposits.

Looking for other options?

• Cash pickup is available through Ria, MoneyGram, and Western Union, though it's rarely used since most recipients have a bank account

• Digital wallets like PayPal work in Australia but usually come with higher fees

• Challenger banks like Revolut are widely used, especially by freelancers and expats, and offer fast, low-cost ways to receive and spend AUD

• Local services like PayID and BPAY are common for domestic AUD transfers, but they’re not typically supported for receiving international funds.

Still not sure? Check out our guide on receiving money from abroad to learn more.

Speed comes at a cost.

Here's how Australia's money transfer companies stack up if you're sending $7,000:

• Fastest provider: Wise, based on recent search data

• Bank deposits: Wise usually delivers within 1–2 business days

• Card transfers: Xe is quicker, often same day

• Cash pickup: Instant with Ria Money and Western Union, but used less often in Australia

If time isn't critical, going the slower route will save you money most of the time.

Most services have their own minimum and maximum send limits, but in Australia there’s an added regulatory layer.

Any transfer over AUD 10,000 is automatically reported to AUSTRAC, the country’s financial intelligence authority.

You or your recipient may need to provide:

• Proof of income or funds (bank statement, pay slip)

• Valid ID (passport or driver’s license)

• Reason for the transfer

Wise is a good choice for larger transfers, as they make this process smooth and compliant.

You can send as much money as you want to Australia, but if you send more than $10,000 AUD, it needs to be reported. This is for legal reasons.

Usually, the company you use to send the money will take care of this. But it's a good idea to double-check with them first.

If you have already paid taxes on the money in your country, Australia's agreements with many countries mean you might not be taxed again if you send it to your own account there.

However, if the money you receive is invested and earns interest, those returns may be taxable.

Gifts are generally not taxed, but you should consult a tax specialist for advice on substantial sums, as international taxation can be complex.

Tax will usually need to be paid on money received as:

• Income you have not already paid tax on

• Money earned as interest, if the total amount of interest you've earned in Australia in the year is over $416 AUD

• Pension benefits

• Assets made from the sale of property

The following sources of money are not usually subject to tax in Australia:

• Foreign inheritance

• One-off cash gifts

• Savings (and any interest earned) from another country