If you’re wondering what is the best way of transferring large sums of money to Australia, my recommendation is always to shop around and compare your options and fully understand what is involved in each of them.
I tried a number of different money transfer companies before I discovered Currency Fair for sending money from UK to Australia. I had so many problems with them all – some involved doing the transfer on the phone with brokers who made mistakes (one of them tried to set up two transfers by accident meaning a delay because they ended up having to cancel both and start again). I tried others which felt like a faff to get our address validated, and others that seemed to refuse to let me log back in after I’d made one transfer and then wouldn’t accept my postcode which it said it needed to resend me a new password. So. many. problems.
Then I heard about Currency Fair. It is just so easy! I haven’t been back to any of the other companies since. It is all done online in just a few minutes. No messing around phoning brokers or haggling rates, just a simple online money transfer system that walks you through the process. Read this independent Currency Fair review on The Currency Shop which outlines the pros and cons (please note: for very high amounts, it may not be your best option so do you homework first).
I am an affiliate for Currency Fair, which means I will earn a commission if you make an international money transfer using my links. This all helps fund the running of this website.
Best way to transfer money from UK to Australia
If you’re thinking of moving to Australia and you’re going to be sending money from UK to Australia, the basic concept is this:
- You open your account with Currency Fair (see the YouTube video below that walks you through this).
- You set up your bank accounts in each country in the system.
- You go through the process of setting up the transfer in your Currency Fair Account. This is where you say you want to ‘send in’ your ££££. I usually set it up to automatically ‘send out’ the money over to my Australian bank account (as an ‘auto-transaction’). When you’ve followed the instructions, you are given Currency Fair bank account details and a reference code. Then you go online into your own online banking and send your UK funds to the Currency Fair account, making sure you use the reference code. If you set it up to be automatic, once the funds hit your Currency Fair account (which is usually pretty quick from my experience) they are automatically transferred off to your Australian bank account without you needing to do any more.
- Voila – you have the money in your Australian bank account. No phone calls. No messing. No problems.
How to transfer money to Australia
Here is a step-by-step guide to setting up your account for sending money from the UK to Australia or from Australia back to the UK. You can sign up here and follow along with the video.
How to transfer money to Australia
If you’re sending money from the UK to Australia, then watch this video which walks you through all of the steps. I’ve been in Australia for over three years now and I think it’s the best way to transfer money from Australia to UK too – I use it all the time to move my own money around between the two countries.
Want to get your first transfer for free?
If you are keen to find the cheapest way to send money abroad, then if you use my link you will get your first transfer for FREE. But if I’m being totally honest and transparent, many of the companies out there will offer you a free first transfer if you are looking to transfer large amounts of money abroad. What sets Currency Fair apart, is that they give you a great rate without needing to haggle, and it is so easy and seamless.
Is your move abroad imminent? If so you might like to read this post about finding short-term accommodation in Australia.
I am an affiliate for Currency Fair, which means I will earn a commission if you make an international money transfer using my links. This all helps fund the running of this website. All opinions are my own and they really are the only currency transfer company that I use.