Sending money home: compare the final amount

A small transfer fee is easy to notice. The exchange rate can be less obvious. Compare like for like before deciding where to send your money.

Compare the same transfer

Use the same sending amount and currency for each quote. Check how much arrives after fees, the expected timing and whether the quote depends on a particular payment method. Save the details before confirming.

Check the recipient carefully

Confirm account information through a trusted channel. Be particularly cautious if someone changes payment details in a message. If a request feels urgent or unusual, pause and verify it independently.

Treat an offer as one part of the decision

Read any eligibility and expiry conditions. A welcome benefit is not enough to establish that a service suits an ongoing need. Ask what a later transfer would cost as well.

Keep the receipt

Save your transaction reference and the provider’s support details. Understand the correction or cancellation process before sending, especially when the recipient details are new.

Source: Moneysmart’s sending money overseas guide (opens in a new tab). Our banking resources also link to scam information and the AUSTRAC register. This article does not recommend a transfer provider.