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How To Transfer Money From UK to Australia [2022 Edition]

Written by, Marija Petkova

Updated July, 22, 2022

The simplest and most cost-effective way to transfer money from the UK to Australia is via an online international money transfer service. 

But, what are the best currency specialists to send money to the land Down Under? 

To help you make the right choice, we’ve compiled a list of the best money transfer services available. 

Let’s dive in.

Best Money Transfer Providers To Send Money From The UK To Australia


  • Exchange rate:1.7533
  • Transfer options: Bank transfer; credit/debit card
  • Transfer fees: £2 fee for transfers of under £250.
  • Transfer time: 1-4 business days

  • Exchange rate: 1.7433
  • Transfer options: Bank transfer; debit card
  • Transfer fees: No fees
  • Transfer time: Up to 2 working days

  • Exchange rate: 1.75161
  • Transfer options: Bank transfer; Credit/Debit card
  • Transfer fees:  £0.27+ 0.41 % of the amount that’s converted
  • Transfer time: Up to 2 days

  • Exchange rate: 1.7521
  • Transfer options: Bank transfer; credit/debit card
  • Transfer fees: No fees
  • Transfer time: 1-2 days

  • Exchange rate: 1.7433
  • Transfer options: Bank transfer
  • Transfer fees: No fees
  • Transfer time: 1-2 days

  • Exchange rate:1.7379
  • Transfer options: Bank transfer
  • Transfer fees: £10 for transfers under £3,000
  • Transfer time: 1-3 days

  • Exchange rate:1.7435
  • Transfer options: Bank transfer
  • Transfer fees: £2,50 flat fee + 0.45% of the amount exchanged
  • Transfer time: 1-2 days

  • Exchange rate:1.7501
  • Transfer options: Bank transfer
  • Transfer fees: £3.00
  • Transfer time: Up to 2 days

  • Exchange rate:1.74529
  • Transfer options: Bank transfer; credit/debit card
  • Transfer fees: £0.99- £2.99
  • Transfer time: Up to 2 days

  • Exchange rate: 1.7353
  • Transfer options: Bank transfer; credit/debit card; cash
  • Transfer fees: From £1
  • Transfer time: 0-1 days

Worth noting: Exchange rates rise or fall based on the supply and demand in the market. This means they can change daily, even hourly. Most money transfer services offer near mid-market exchange rates, but to check how much you’ll pay, you’ll need to request a quote from the service you’re using.


Transferring Money From The UK To Australia: A Buyer’s Guide

If you’re not quite sure how to go about shopping for a money transfer service to transfer money to Australia from the UK, here’s what to look out for and what you should know to complete the transfer.

What details do you need to transfer money to Australia?

Regardless of the money transfer service you opt for, you’ll need the correct details to make sure the money goes through, including:

  • Account name of the recipient (this can be your name or someone else’s).
  • Their account number.
  • Their bank code or agent location (depending on how you’re transferring the money).

Worth noting: Australia doesn’t use IBANs (International Bank Account Numbers), instead, they use SWIFT/BIC codes.

How much does sending money to Australia cost? (Payment methods)

There are several different payment methods you can use to make a money transfer from the UK to Australia. In most cases, the send method directly affects the cost of the transfer. 

  • Bank transfer: Bank transfers are the most common way to move money from one country to another. They take longer than debit and credit card payment transfers, but they are often the cheapest option available.
  • Debit/ Credits card: The most convenient (and sometimes fastest, depending on the options) way to send money to Australia from the UK is credit and debit card payments. However, they are a more expensive alternative, especially if you opt to pay with a card.
  • PISP: Some currency brokers support PISP (Payment Initiation Service Provider) as a method of payment, where you can pay directly from your bank account through a third-party (without having to leave the app), such as Wise.
  • SWIFT: There are money transfer services such as Wise, that allow  SWIFT payments, but you’ll likely incur a fee.

The best (and fastest) way to send money to Australia is online. Some services like Revolut allow customers to send money directly to the recipient’s account, provided that they use the same platform. 

Looking for ways to move money to another country? These articles will help you choose the best money transfer service:

Bank or money transfer specialist – what’s the difference?

Although many bank accounts provide international currency exchange services, they offer poor exchange rates. On top of that, you’ll likely have to pay a fee for the transfer as well.

Currency brokers offer much more competitive exchange rate margins compared to banks and can work out to be 3-5% cheaper. 

What’s more, currency brokers have teams of experts who monitor exchange rates and can offer guidance on currency risk and when is the best time to send a larger sum overseas. 

For example, TorFX assigns an account manager for every customer that can help them fix a favourable exchange rate for recurring payments. 

OFX, on the other hand, allows you to set market rate alerts and notifies you when the market hits the target so you can complete the transfer at a good rate.

Looking for fee-free ATM withdrawals overseas? Check the top mobile-only banks in the UK.

How much money can I send to Australia?

There’s no limit on how much you can send but some money transfer services might limit the amount you can send online (and ask you to call them to finish the transfer).  If you’re planning to make a large transfer, you might want to consider XE

Still, most money transfer services set a minimum amount. For example, Currencies Direct allows its customers to move as little as £100.

Also, keep in mind that some currency exchange specialists put a limit on how much money you can send in a certain period. For example, WorldRemit only allows for transfers of up to A$50,000 in 24 hours. 

How long does it take to transfer money from the UK to Australia?

It typically takes between 2-4 days for the money to arrive in an account in Australia. 

Money transfer times largely depend on the type of method you use and the time of the day. Bank transfers are the slowest but usually give you the best value for money. 

Some money transfer services offer instant transfers. For example, when Wise and Revolut users send money to Australia from the UK to customers who use the same platform, the transfer is instant.

Bottom Line

Online money transfer services offer quick international money transfers at competitive exchange rates. What’s more, they’re secure, are available 24/7, and provide tools that can help you better manage your transfers. 

But, regardless of whether you need to make a one-time transfer or you’re planning on setting up regular payments, make sure to compare quotes from several international money transfer companies to find the best deal for you.

                           

Frequently Asked Questions And Their Answers

Can you do a bank transfer from the UK to Australia?

You can send the money via your bank or a bank transfer through a money transfer service, which is often cheaper.

What is the cheapest way to send money from the UK to Australia?

The cheapest way to transfer money to Australia is through a bank transfer (via a money transfer provider).

Will you be taxed on money you transfer to Australia?

When transferring money from the UK to an Australian bank account, the recipient will have to report the funds if they are Australian citizens. 

Under Australia’s tax code, even if you transfer money from the UK to Australia as a gift you might face tax implications, especially when you move ‘large amounts.’

What is the best way to transfer money from Australia to the UK?

The best way to send money from Australia to the UK is through a currency specialist.

Do I need an IBAN to send money to Australia?

Australian banks don’t use IBANS. You can transfer money from the UK to Australia with a SWIFT/ BIC code instead.

My name is Marija, and I'm a financial writer at DontDisappointMe. Although finance might not be everyone's cup of tea, my 10+ years of working in one of the biggest banks in my country, and my interest in extensive research on everything finance/investment-related, have made me somewhat of an expert in the field (if I do say so myself). No longer having the passion to work in a corporate setting, I decided that I couldn't let all of this knowledge go to waste so I started writing. And, here I am! Today I try to share my knowledge with my audience in the hopes of making this topic as simple and interesting as possible. In my leisure time, I like spending time with my family and travelling to new locations.