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Overall best way: Wise
Wise scored the highest of the 18 money transfer companies supporting AUD to GBP transfers.
In total, Wise appeared in 73.4% of Australia to United Kingdom searches.
For a great mix of cost, speed & features, we advise using Wise for your Australia to United Kingdom transfer.
How to compare companies offering money transfers from Australia to United Kingdom
- Always compare rates
Use our live comparison tool to make sure you aren't missing the best rates to send money from Australia to the United Kingdom. This ensures the best price.
- Choose a provider
Select the company that offers you the best value & options for sending to the United Kingdom.
- Click, sign up & send
Sign up & make your transfer. Your funds will soon be on their way from Australia to your chosen country & currency.
Summary of recent searches
Considerations for sending money from Australia to United Kingdom
Always compare ways to send money from Australia to the United Kingdom to get the best options for fees, speed, and reliability.
Our analysis included 18 providers that operate between Australia and United Kingdom.
Through this, you get a comprehensive view of all the options you have in Australia when you need to send money to the United Kingdom.
Cheapest way to send money to the United Kingdom from Australia: Instarem
The cost is a combination of an average fee of 498,236.78* AUD and an exchange rate for converting Australian Dollar to Pound Sterling that is 0% different to the mid-market rate.
On average, Instarem is 0.1% cheaper than the second-best option.
We would recommend Instarem for low cost, affordable transfers from Pound Sterlings to United Kingdom.
*The most common fee applied to AUD-GBP by Instarem, based on data from the past six months.
Fastest money transfers from Australia to the United Kingdom: Paysend.
Through our comparison, we found Paysend to be the fastest option to transfer money from Australia to Pound Sterling in 51% of instances.
Over the last six months, sending money from Australia to the United Kingdom through Paysend have an average fee of 0 AUD.
Paysend was one of 18 money transfer providers we compared for overall speed of sending money from Australia to the United Kingdom. This speed test included depositing Australian Dollars to an account and the average timeframe for sending money to the United Kingdom.
When fast transfers are a priority, Paysend is our best choice for sending from Australia to United Kingdom.
Transfer a large amount of money
Wise is the best rated company for sending large amounts of Pound Sterling to the United Kingdom out of 18 companies offering the service.
Whether for a property purchase, or for business, sending large amounts of money to the United Kingdom from Australia has the potential to be very expensive.
Wise is our choice for big transfers to AUD because of all round price, speed and management when making large transfers.
Tax implications on transfers from Australia and into the UK
When receiving money in the UK from Australia, the recipient should be aware of any legal and tax implications of the transfer.
Depending the type of transfer being received, obligations in the UK will differ.
There are also potential tax reliefs that those receiving money in the UK from Australia should be aware of.
These are:
Type of Income/Tax | Declaration or Relief | Details | Monetary Values |
|---|---|---|---|
Employment Income | Declaration | Salary or wages received from abroad are subject to UK income tax. | Tax rates: 20%, 40%, 45% based on income. |
Self-Employment Income | Declaration | Payments from clients abroad are subject to UK income tax. | Tax rates: 20%, 40%, 45% based on income. |
Pension Income | Declaration | Overseas pensions are subject to UK income tax, with possible exemptions depending on tax treaties. | Variable based on pension income. |
Foreign Investments | Declaration & Relief | Gains from selling overseas assets are subject to capital gains tax, with relief under double taxation agreements. | Tax-free allowance: £12,300 (2023-2024). Tax rates: 10% or 20%. |
Gifts and Inheritances | Declaration | Subject to UK inheritance tax, especially if the deceased was a UK domicile. | Threshold: £325,000. Tax rate: 40% above threshold. |
Foreign Dividends | Declaration & Relief | Subject to UK income tax, with possible relief for foreign tax paid. | Tax-free dividend allowance: £1,000. Tax rates: 8.75%, 33.75%, 39.35%. |
Foreign Interest | Declaration & Relief | Interest from foreign accounts is subject to UK income tax, with possible relief for foreign tax paid. | Tax-free savings allowance: £1,000 (basic rate), £500 (higher rate). |
Double Taxation Relief | Relief | Relief against UK tax liability for foreign tax paid on the same income. | Varies based on foreign tax paid. |
Remittance Basis (Non-Domiciled) | Declaration & Relief | Tax on foreign income and gains only if brought into the UK, with specific rules and charges. | Annual charge: £30,000 (residents of 7 out of 9 years), £60,000 (residents of 12 out of 14 years). |
Reporting Requirements | Declaration | All foreign income and gains must be reported to HMRC via self-assessment tax return. | Penalties and interest for non-compliance. |
Understanding the costs involved when transferring money to United Kingdom from Australia
When calculating the cost of sending money from Australia to the United Kingdom, a combination of fees and exchange rates ensure the best deal:
The Mid-Market and Exchange Rates: The current AUD-GBP mid-market rate is 0.5082 GBP per Australian Dollar. Finding a provider as close to this number as possible will ensure more Pound Sterling for your money.
As a comparison, the AUD-GBP mid-market rate for the past three months has averaged 0.5173 GBP per Australian Dollar, hitting a high of 0.5317 and a low of 0.5078.
Wise is currently offering the best exchange rate on transfers between Australia and the United Kingdom.
Often the AUD-GBP exchange rate you receive will be the biggest factor impacting the cost of sending Australian Dollar to the United Kingdom.
Fees: Transfer fees are charged on top of a transfer. Instarem currently offers lowest fees, at an average of 498,236.78 AUD over the last 6 months. Although, we recommend searching for your exact send amount for an exact fee.
Amount Received: The total amount received in Pound Sterling is the biggest indicator in the total cost of sending money to Australia from the United Kingdom. The higher the total amount received in the United Kingdom, the lower the cost of sending from Australia.
How to find the best exchange rate for Australian Dollar to Pound Sterling
Timing is essential for sending money between AUD and GBP. The exchange rate you secure impacts how much GBP you get for your AUD.
Let's dive into some interesting recent trends.
Over the past six months, the exchange rate from AUD to GBP has seen some fluctuation. On average, it stood at 0.5173.
During this period, the highest value recorded was 0.5317, while the lowest was 0.5078.
Wise, which is our recommended service to send money online from Australia to United Kingdom offers an exchange rate that is only 0% above the mid-market rate.
Want to secure the best AUD-Pound Sterling exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from Australia to United Kingdom!
Funding your Australia to United Kingdom money transfer
Bank transfers
Bank transfers are often the best and easier way to send money from Australia to the United Kingdom.
By using a money transfer company such as Instarem for transfers from Australia to the United Kingdom, you can send money via a bank transfer and benefit from lower fees and more favorable exchange rates than would be offered by a bank.
On average, Instarem is the cheapest way to send money via a bank transfer. This is of the 18 companies we tested when sending AUD to the United Kingdom.
With an average fee of 454,692.57 AUD to send money from Australia to the United Kingdom, Instarem offers a decent combination of competitive exchange rates and lower fees.
Debit and prepaid cards
Sending money from Australia to the United Kingdom with a debit or a prepaid card is easy with Wise.
Wise is a leading money transfer company for debit card payments, and offers transfers from Australia to the United Kingdom.
Credit cards
When it comes to sending money with a credit card from Australia to the United Kingdom, Instarem is our top choice of the 18 companies offering this service.
Keep on top of fees: using a credit card to transfer money can result in a fee being charged by your card issuer. Where possible, we recommend bank transfer or debit card instead.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between United Kingdom and Australia.
Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money from Australia to United Kingdom.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send AUD to GBP.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
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