Sending Money Overseas to Friend

ThisOne on 01/02/2017 - 17:00

Hi All - I need to send about $500 AUD to a friend overseas and I have never done this before. Does anyone have any tips of the do's and don't's and any suggestion of the cheapest way to do this? Thank you in advance

Financial

Comments

  • retiredfeline on 01/02/2017 - 17:09

    Transferwise is one possibility. There are others. Compare rates as it depends on destination.

  • toniyellow on 01/02/2017 - 17:10

    I have had a good experience with OFX, to Italy, rates were very good.

    This appears to still be active https://www.ozbargain.com.au/node/232099

  • pao2x on 01/02/2017 - 17:16
    +1

    AUS GOVT SITE https://www.moneysmart.gov.au/life-events-and-you/families/s…

    they have links that compares service providers

    World bank comparison site

    http://remittanceprices.worldbank.org/en

    • donga100 on 01/02/2017 - 19:37

      Also on that page they have a link to this which may or may not apply to the OP.

  • malouphix on 01/02/2017 - 17:29

    Western Union app

    https://www.westernunion.com/au/en/mobile-app.html

  • aoeueoa on 01/02/2017 - 17:39

    I've used HIFX. You can get a quote online before you commit to anything. They use standard currency conversion but then add their own fee to it. You then transfer to their account with a reference code and they forward it on. Simple and fees are reasonable, never had an issue.

  • spacemansam on 01/02/2017 - 17:45

    Have used Currencyfair and Transferwise - both great and easy to use. Worth comparing the rates that both offer as they vary daily.

    PM if you'd like a referral link for a free transfer :)

    • ThisOne on 03/02/2017 - 22:05

      Hi SpaceAngelz - hate to ask a stupid question but I'm a newbie - what do you mean by PM you for the referral link???

      • spacemansam on 04/02/2017 - 07:23

        Private message - just click on my username then click 'start a conversation' :)

  • Marcsie on 01/02/2017 - 20:47

    I want to be your friend :)

  • Peck on 01/02/2017 - 21:38

    Cheapest, but may take a couple of weeks. Open a Citibank Plus account and send them the debit card. Only once they have received it, transfer $500 into the account. They go to a Citibank ATM and Voila!

  • ThisOne on 03/02/2017 - 22:03

    Thank you so much for all your advice guys - really appreciate it - I've never done this before and it's all a bit scary:)

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