Hi, I want to transfer money to my Australia bank account from overseas bank using the overseas debit card as and when required. Earlier I have used Revolut for this purpose, but they have started charging 2% now. Is there any other service I can use? I don't want to wire transfer from overseas as it involves paperwork and effort every time. I also want to avoid withdrawing cash from ATM using the overseas debit card. Thanks
How to Transfer Money to Australia from Overseas Bank Using The Overseas Debit Card
vin2 on 24/04/2023 - 21:14
Last edited 24/04/2023 - 21:18
Last edited 24/04/2023 - 21:18
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Revolut allows. You can add money to Revolut account using an overseas debit card. Once you have money in Revolut account, you can transfer it to your Australia bank account.
Would help if we know what this overseas bank is and where it is based! Some of them offer free or fixed international transaction fees to an affiliated bank here.
The overseas bank is in India. There is no international transaction fees and there is no markup on the foreign exchange rate. I get the mastercard / visa rate.
Can’t help you much if you don’t tell us who you bank with on both sides.
ANZ ATM withdrawal fee is just $2
yes, I have withdrawn it in the past using ANZ. But I want to avoid withdrawing and depositing too much cash. Looking for other alternatives.
I do transfers all the time using Wise.
Best rates.does Wise allow you to add money to your Wise account using a debit card?
My debit card is linked to my UK bank account , but during transfer I am pretty sure you get a choice.
- Bank transfer
- Debit card
- Swift transferthanks, Jasonofoz. do you choose "Send" option in the app or something else? Send option doesn't allow transfer of INR (Indian Rupee) due to some restrictions.
@vin2: Yes, that's the one I use.
Not sure about INR but understand there are some currencies that may not be supported.
I recall looking to use Wise for business as we have clients in India and it wasn't possible for clients to pay us in INR.
Be Wise
Mate, if ANZ is charging you $2 then probably that's the cheapest option. Unlike cash rich countries like Australia and many Western nation who don't have much issue getting money, many country on the other end of the scale purposely restrict money going out for a reason, their government actively avoid bleeding out foreign cash so they'll do all venues to discourage you doing that, $2 per withdraw is as best as you can get because you're probably flying under the radar, consider yourself lucky that the bank you're dealing hasn't caught up with inventing foreign transaction fee and atm withdrawal fee.
thanks, but I am not flying under the radar. It is all legal. Most banks there charge foreign transaction fee and other fee or markup. But some banks have made it free for their privileged customers.
can't transfer with a debit card unless you are pulling it out an ATM