Send Money to Australia from the UK

Sending money internationally has been a matter of concern and is full of misconceptions. People often struggle with the process and remain fearful of the fact whether their money reaches its destination or not. However, with the advent of modern technology and online platforms, international money transfer has become easier than ever.

So, through this write-up, let's get an overview of the process for a better understanding and hassle-free money transfer across the world.

How to Send Money to Australia from the UK?

Sign up or log in

The process begins with signing up or logging in to the SterlingFX portal. If you're a new user, sign up, and if you're an existing user, log in with your credentials.

Enter recipient details

Next, you must enter the recipient details properly, including the names, account numbers, and necessary bank information.

Choose the amount
and currency

To proceed, input your amount and choice of currency. We will convert the amount, and you can then proceed.

Select payment method

Now you can confirm the payment method. You can choose among debit/credit, bank transfer, demand draft, etc.

Review and confirm

Double-check all the details, including exchange rates and fees. Confirm the transfer to initiate the process.

Track your transfer

After confirmation, you can track the status of your transfer through your SterlingFx account.

How to Send Money to Australia from the UK Easily and Securely

Sending money to Australia from the UK can be a straightforward process if you know the right steps and choose the best services. This guide will walk you through everything you need to know to ensure your money transfers are secure, efficient, and cost-effective. So, here we will discuss some of the best methods to send money to Australia from UK.

Best Methods to Send Money to Australia from the UK

High Street Banks

Transferring money with high street banks is one of the secure and convenient ways to send money to Australia from UK. The money transfer processes offered by the UK-regulated high street banks are secured because they protect up to £85,000 per person with the Financial Service Comparison Scheme (FSSC) per banking institution.

Specialist Currency Brokers

Another well-known method for money transfer UK to Australia is the specialist currency brokers like The Currency Club. They are online currency brokers that offer competitive exchange rates but at lower charges than money transfer services through high street banks.

High Street Money Transfer Services

High street money transfer services are the secondary option to send money to Australia from the UK. This is not a preferable method because it never mandates having a bank account for both the sender and receiver. The sender can hand over the cash in the authorised physical collection points (ex. shops and newsagents) and the recipient can collect from the other end.

Digital Money Transfer Provider

It's the cheapest way to send money to Australia through app-based money transfer providers. You can check the real-time exchange rate and calculate values through the calculators of their apps or websites.

Method	Mid-market exchange rate	Exchange rate markup	Multi-currency card
High street banks	No	Yes	No
Specialist currency brokers	Yes	Yes	Yes
High street money transfer services	Yes	No	No
Digital money transfer providers	Yes	No	No

How to Choose the Right Money Transfer Service?

You have to choose the right money transfer service based on these four factors -

Exchange Rate

First, you need to check the exchange rate of converting Pound Sterling into Australian dollars. After that, you can do a comparative study, see which money transfer service offers the best rates, and choose one.

Transfer Fees

The next point to evaluate is the transfer fees. Usually, service providers levy an additional charge on the transfer, which will vary from one company to another. So, check the rates and find the best one for you.

Transfer Speed

Transfer speed is an important factor. Online money transfer services usually offer the quickest way to send money abroad, but you need to read between the lines and see the company offering a seamless service.

Security

High-street bank services are the most secure method to send your money abroad. As they are protected by FSSC, there is no chance of money laundering with this money transfer method. Also, reputed international money transfer services like SterlingFX are regulated by government norms and comply with all the regulations, so you are safe.

Understanding Transfer Fees and Exchange Rates

SterlingFX has the most competitive exchange rates and fees for sending money abroad. Moreover, the rates are constantly updated to reflect the real-time scenario. Also, when it comes to additional charges SterlingFx follows a transparent and straightforward policy. You can view the fee structure before completing your transfer, ensuring there are no hidden costs.

Tips for a Secure Money Transfer

Here are some tips to ensure a secure international money transfer from Australia to the UK -

The GBP/AUD exchange rate fluctuates over time. It changes depending upon several factors, such as the current economic situation of countries like the UK and Australia and their political stability. It also changes due to supply and demand. Thus, you must know the current exchange rate before making a money transfer.

Choose an international money transfer service provider that is registered and regulated by government regulatory bodies.

The transferable amount of money can vary between the different service providers. Thus, you need to know the maximum and minimum amount of money before the transfer. Also, know the transfer charges and if there are any hidden charges.

Don't forget to verify the recipient's details before sending the money.

You can track the money transfer status using the service provider's web or app through the tracking number printed on your receipt in case of any issues.

Frequently Asked Questions

How do I transfer money from the UK to Australia?

You can transfer money from Australia to the UK using banks, online payment gateways, or trusted money transfer service providers like SterlingFX.

Which is the cheapest and most secure payment method - bank transfers vs. online Money transfer services?

Undoubtedly, bank transfer is the cheapest and most secure payment method. The UK-regulated banks are fully protected by FSCS, making bank transfer methods the safest.

How to avoid hidden fees to send money to Australia from the UK?

To avoid hidden charges, first calculate the exchange rate using the online calculator provided by the service provider. Then, check their money transfer policies to find out about hidden charges.

How do you track your money transfer?

You can track the money transfer using the tracking ID given by the service provider.

What is SterlingFX's customer support email ID?

The customer support email ID of SteringFX is info@sterlingfx.co.uk

What are the common mistakes to avoid transferring money to Australia from the UK?

The common mistakes to avoid while transferring money from Australia to the UK are -

Taking services from the unauthorised service provider.

Taking an international money transfer service without knowing the exchange rate, service charge, and hidden cost.

Choose a service without reading their customer reviews.