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11 Ways to Transfer and Remit Money in Australia

Many people who first arrive in Australia because they don’t know other ways to transfer money will choose to transfer money through the bank, such as Commonwealth, ANZ and other banks, to complete the transfer, but there are many other ways to transfer money. For example, most of my friends have heard of Western Union, a famous international money transfer platform, because of its convenience and speed. It has offices in many countries, and many Chinese people use it. Of course, besides Western Union, there are other international money transfer platforms. 

Commonwealth Bank


Commonwealth Bank

Commonwealth Bank of Australia, headquartered in Sydney, is Australia’s second-largest commercial bank, founded in 1912. Generally, international students get Commonwealth cards, and there are more ATMs and bank branches in the city. Familiar Central, Bourke and the University of Melbourne are all inside the counter. Such a powerful bank offers various transfer services, such as the CommBank app, NetBank, or nearby branches, to send international money transfers (IMT) in more than 30 currencies to more than 200 countries/regions.

Commonwealth Transfer Limits

If you use NetBank or the CommBank app, the maximum daily transfer limit is AU$5,000. However, if you need to transfer more than AU$ 5,000, you can get help by visiting a branch or calling Commonwealth on 13 2221.

Commonwealth Overseas Transfer Fees

  1. A handling fee of AU$30 per transfer is charged when you visit a branch. 2;
  2. A fee of AU$6 per transaction for transfers made via the NetBank or CommBank apps (converting funds from an AUD account to a foreign currency);
  3. A handling fee of AU$22 per transfer (funds debited and credited in Australian Dollar currency (no foreign currency conversion)) via NetBank or CommBank app;
  4. A handling fee of AU$6 per transfer via CommBiz;
  5. To cancel the transfer or amend the payee’s details, a handling fee of AU$25 per transaction will be charged.

Commonwealth Transfer Time

Transferring money usually takes 1-3 working days. However, international transfers may take longer depending on the bank and country you are sending from. It is also worth noting that transfers made on weekends, public/bank holidays or after the currency cut-off time will be processed on the next working day.

ANZ (Australia and New Zealand Bank) Transfers


ANZ, headquartered in Melbourne, is one of Australia’s leading commercial banks. Founded in 1835, it also strongly focuses on the local Chinese market and offers specialised services for international students. See below for transfer limits, fees, and arrival times.


ANZ Transfer Limits

Customers with a personal account may request a daily limit of AU$1,000, AU$5,000 or AU$10,000, while customers with a business account may request a daily limit of AU$5,000, AU$10,000, AU$15,000 or AU$25,000. If you are an ANZ Internet Banking for Business user, you can request to pay up to AU$1,000,000 per day to “Anyone”.

However, even if your Pay Anyone daily limit is higher, the maximum amount you can transfer overseas via ANZ Banking for Business is AUD150,000.

ANZ Overseas Transfer Fees

There are slight differences between telephone transfers and online banking:

Phone Transfers:

1800 352 535 (International: +613 9683 9999)

Details of fees for transfers up to AUD10,000:

1. Payments to Cook Islands, Fiji, French Polynesia, Guam, Kiribati, New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu: Handling Fee is AU$7;

2. Payments to all other countries/regions:

If sent in foreign currency from an AUD account, the fee is AU$9

AU$32 if sent in Australian dollars from an AUD account

AU$32 if sent from a foreign currency account.

Details of handling fees for amounts over AUD10,000:

1. Send money to Cook Islands, Fiji, French Polynesia, Guam, Kiribati, New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu:

There are no fees if sent in foreign currency from an AUD account

AU$7 if sent in Australian dollars from an AUD account

If sent from a foreign currency account, the fee is AU$7

2. Payments to all other countries/regions:

There is no fee if sent in foreign currency from an AUD account

AU$32 if sent from an AUD account in Australian Dollars

AU$32 if sent from a foreign currency account

Online Banking or Corporate Online Banking Transfers:
Details of fees for amounts up to AUD10,000:

1. Payments to Cook Islands, Fiji, French Polynesia, Kiribati 3: New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu:

No fee if sent in foreign currency from an AUD account (fee waiver offer effective from 18 September 2020 and will end on 20/02/20)

AU$7 if sent in AUD from an AUD account

2. For Payments to All Other Countries/Territories:

AU$9 if sent in foreign currency from an AUD account

AU$18 if sent in AUD from an AUD account

Details of handling fees for amounts over AUD10,000:

1. Payments to Cook Islands, Fiji, French Polynesia, Kiribati 3: New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu:

There is no fee if sent in foreign currency from an AUD account

AU$7 if sent in Australian dollars from an AUD account

2. Payments to all other countries/territories:

There is no fee if sent in foreign currency from an AUD account

AU$18 if sent in AUD from an AUD account

ANZ Arrival Time

Usually, within two working days (or earlier), you can transfer your money from the ANZ account to your overseas account.

National Australia Bank


National Australia Bank, headquartered in Melbourne, is Australia‘s largest commercial bank, established in 1858. That is to say, NAB’s classic account is said to be the best choice for international students. NAB has branches in Beijing and Shanghai, China. See below for details of specific limits and charges.

NAB Transfer Limits

The default daily limit for international fund transfers via NAB Internet Banking is AU$5,000. If you wish to transfer more, don’t hesitate to contact NAB Customer Service on 1300 651 656 between 7 a.m. and 9 p.m. Monday through Friday and 9 a.m. and 6 p.m. (AEST / AEDT) on weekends.

NAB Foreign Transfer Fees

A fee of $10 per transaction will be charged for international money transfers via foreign currencies and $30 per transaction for international money transfers via Australian dollars. The fee is generally payable in accordance with the terms and conditions of service applicable to all fees payable in connection with the use of the service.

NAB Arrival Time

Typically, international money transfers from NAB take 1-3 business days, depending on the currency and country involved. Once you transfer using NAB, the money will leave your account within one business day.


WestPac BIC/SWIFT code: WPACAU2S or WPACAU2SXXX if 11 digits are required.

Headquartered in Sydney, it is the first bank and first company in Australia with a long history of 192 years. See below for specific limits and fee details.


WestPac Transfer Limits

You can change your daily payment limit (up to $10,000) using Online Banking or the Westpac app. You can contact their customer service to increase your limit above $10,000. The phone number is 132 032 or (+61 2) 9155 7700 for international calls.

WestPac Foreign Transfer Fees

Pay a lower fee when you send an international payment in a foreign currency:

Online banking payments in foreign currency cost $10

$20 for online banking payments in Australian dollars

$32 in any available currency in the branch

$10 for in-branch transfers to a Pacific Westpac account

In addition to the fees charged by Westpac, international payments may result in the deduction of additional charges from one or more overseas banks participating in the international payment (other bank charges) and/or the bank of the payment recipient.

WestPac Arrival Time

Funds are typically transferred electronically from your Westpac account to the designated overseas account within 1-3 business days.

Paypal’s Xoom International Money Transfer Service

Handling fee: no handling fee for domestic transfers! A handling fee of AUD 5.99 will be charged for overseas transfers.

A PayPal service, Xoom makes it easy to send money, prepaid mobile phone top-ups and bill payments to family and friends worldwide. You can make international transfers if you have the recipient’s email or phone number. It doesn’t matter if the recipient doesn’t have a PayPal account; open a PayPal account to receive the money when you receive a money transfer alert. PayPal does not charge any fees for transfers within Australia; for international transfers, PayPal charges a small fee plus a transfer fee.

You can not only complete the transfer through the web page, you can also download the APP and use the mobile device website to transfer money, very fast and convenient! In addition, we also provide a Chinese language service, so there is no language barrier, and you can complete the remittance more easily.

Remittance Steps:

1: Log in to Xoom with your PayPal account and password, or use your name and email address to create an account;

2: Enter the amount of money to be sent, the recipient, and the recipient’s address in China;

3: Complete the transfer by making a convenient payment using PayPal, your bank account, credit or debit card.


Fast and convenient.


There are additional transaction processing fees and cash withdrawal fees.

Remitly International Money Transfer Platform

Founded in 2011, Remitly is an online money transfer service company based in Seattle, USA. Remitly now supports transfers from 17 countries to 85 countries, including China, which meets the needs of most overseas students and residents. The Remitly platform is fast, convenient, transparent and affordable, and its global network technology allows you to enjoy a better remittance experience.

At the same time, Remitly money transfers can be done online, or you can download the app and complete it on your mobile device. In addition, the website has a Chinese page, which is undoubtedly the most significant advantage, so you can quickly complete the transfer without any obstacles.


New customers enjoy 0 commission for their first transfer; new users can also enjoy a limited-time preferential exchange rate;

Fixed fee policies in some countries are suitable for large transfers;

Enjoy favourable international exchange rates, and the amount of money sent and received is displayed in a timely manner at a glance;

Easy to operate on mobile devices, in addition to using the web version, you can also download the APP and operate all the required functions directly on your mobile device, significantly improving efficiency;

There are two kinds of transfer services, EXPRESS and ECONOMY;

The transfer speed is breakneck, usually within three working days;

You can Paypal instantly to the account, which is too convenient for domestic recipients who are used to using Paypal;

There are also many payment methods, and in Australia, it is more common to pay through a bank account;

Western Union

Handling fee: ranging from AUD 25-50!

Advantages: Quick arrival.

Cons: High fees and fewer banks supported.

Western Union

Western Union was founded over 250 years ago as an express money transfer company, and its parent company is First Data Corporation (FDC). The parent company is First Data Corporation, also known as FDC; Westem Union can provide international money transfer services to customers worldwide.
Generally speaking, Western Union money transfers can arrive in as little as 15 minutes. After the remitter has completed the remittance procedure, the remitter will inform the recipient of the remittance information and the remittance monitoring number. That is to say, after the recipient receives the remittance notification and recognises the Western Union logo, he or she can go to the nearest Western Union branch of the bank agent for the remittance to go through the procedure of receiving the remittance. The payee is required to fill in the Western Union Remittance Receipt and present his/her valid ID. It is important to note that the recipient must collect the Western Union remittance in person and may not delegate the collection to another person.

The only disadvantage is that you must go to a branch.

The Specific Process is as Follows:

  1. Go to a Western Union branch and complete the “Remittance Form”.
  2. Submit the completed form, payment, remittance fee and personal identification documents.
  3. Receive a receipt with the Money Transfer Control Number (MTCN) printed after the transfer is completed.
  4. Inform the recipient of your name, the amount of money transferred, the MTCN and the country/region from which the money was sent.

Panda Remit

Handling fee: AUD$5.99

Pros: Lower fees, faster transfer times

Cons: Not available

Panda Remit

Unlike traditional cross-border remittance methods such as banks and Western Union, Panda Remit omits the intermediary bank link. It directly connects the sender and recipient to arrive within 3 minutes. It is easy to send money via mobile phone, eliminating the hassle of waiting in queues and is available 24/7 online. In addition, since Panda Money doesn’t have many offline shops, it saves a lot of offline operating costs, so it’s also much cheaper in handling fees. The Panda Express is the most affordable way to send money to your family and a great way to get the most out of your money.

The information required for a Panda Express remittance:

1. The remitter’s basic information, residential address, passport or Australian driver’s licence.

2. The recipient’s ID card is a second-generation ID card from mainland China.

3. bank card: the remitter must hold the country’s bank-issued debit card (Debit Card).



TransferWise, a perfect international money transfer platform, can be called a cross-border magic weapon. Generally, transfers can be made in a minute and converted to RMB (minus fees) at the real-time exchange rate. You can hold and manage over 40 currencies, which allows you to avoid exchange rate fluctuations and prepare for future transfers.
Handling fees:

For example, if you send AUD1000 from Australia to the US, you will be charged AUD6.01, higher than Commonwealth Bank, OrbitRemit, and PayPal but lower than most banks and transfer platforms in Australia.


Handling fee: AUD 2!

Pros: Low fees, no exchange rate difference.

Disadvantages: Limited remittance amount, limited types of domestic UnionPay cards.


PaySend is a new-generation international money transfer service platform created with the goal of providing the most convenient service and lowest fees, changing the expensive international money transfer methods monopolised by traditional banks/Western Union and others. Users can make “card-to-card” cross-border remittances directly from more than 40 countries to 70 countries. “Card-to-card” means that by sending money, you can use an overseas bank card with the Visa or MasterCard logo to send foreign currency directly to the recipient’s bank account in China.

Payment is straightforward, and you can register using your mobile phone number. When you send money, you only need to enter the bank card number and the sender and receiver’s name to complete the remittance. A real-time exchange rate calculator is available on the Payment website or mobile app. Generally, Payment ensures that the amount you see on the recipient’s card is the amount of RMB received by the Chinese recipient’s UnionPay card, with no hidden fees!

World Remit

Handling fee: charged as a percentage of the transaction!

Pros: Fast arrival time and a wide choice of payment methods.

Cons: A government-issued ID is required after the first transfer.

World Remit

WorldRemit is an international money transfer service that supports transactions in up to 90 currencies from 150 countries. Exchange rates vary depending on the method of receipt chosen by the user.

WorldRemit allows you to send money directly to your domestic Alipay account, which is very convenient. You can also receive money via debit card, and for small amounts, you can even receive money directly from your mobile phone by recharging it, which is possible with China Unicom, China Mobile, and China Telecom. Usually, you can send money in 1-4 hours during working hours.

In addition, Omipay, Payoneer, and OFX are also online remittance tools that you can try.

Book Student Accommodation in Australia

If you want to study in Australia and renting an apartment is a big problem, uhomes.com offers a huge range of affordable and comfortable student accommodation for Australian students at the cheapest student flat rentals! You can rent luxury or budget suites, studio flats, and private and shared rooms with various amenities at student accommodation in Melbourne, Sydney, Adelaide, Canberra and Brisbane.


 Standard methods include bank transfers, money transfer services like Western Union, PayPal, online money transfer companies, cryptocurrency transactions, and mobile apps.

Exchange rates can significantly impact the value received when converting AUD to another currency. A favourable exchange rate means more money for the recipient.

Yes, most services charge fees, either as a percentage of the transfer amount or a flat rate. It’s essential to check fee structures before making a transfer.

 You’ll need the recipient’s name, address, bank account number, and their bank’s SWIFT/BIC or IBAN code.

 Transfer times vary depending on the method chosen, ranging from a few minutes to several business days.

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