How to transfer money to buy property overseas in 2025
Whether it’s for yourself to live in, as an investment or a holiday home, buying a property abroad is a dream for many Australians. If you’re planning how to buy your international property, you’ll need to figure out the best way to pay for it from AUD.
Buying a property abroad can be costly and slow, so finding a way to send high value transfers overseas with low fees, fair rates and a fast delivery time is crucial. In this article we’ll talk about the options to pay for a high value overseas purchase with a bank – and also look at providers like Wise and OFX to make cheap, fast and safe international transfers.
How to transfer money to buy property overseas – Step by step
When it’s time to send money to buy a property abroad from Australia, you’ll need a safe and convenient way to send a high value payment. While there are many options to transfer funds abroad, in this guide we will explore two different popular and easy options:
- International money transfer, using specialist providers
- SWIFT payments and international bank transfers
Ultimately, the best option will depend on your own specific preferences and needs. Here’s a quick rundown of some pros and cons of each – and we’ll have a more detailed look at your primary options later.
| Advantages | Disadvantages | |
|---|---|---|
| Using an international money transfer provider | ✅ Providers often have low fees and good rates
✅ High value digital payments available |
❌Exchange rates may have variable fees added
❌You’ll need to register an account to transact |
| Using a bank transfer (SWIFT) | ✅Safe, reliable and familiar service
✅You can usually transact in a branch to get face to face service |
❌Transfer and exchange fees can be high
❌ Digital transfers are often not available for high value payments |
Using an international money transfer provider
You can register an account with a specialist money transfer service, which will allow you to send a high value payment using your phone or laptop. You’ll still be able to pay for your transfer from your bank, but the transfer provider may have optimized their systems to allow for low fees and a quick delivery time.
- Register an account online or in an app
- Providers like Wise and OFX offer a fully digital onboarding and transfer service
- Options like OFX have no transfer fees, while Wise has no fees added to the exchange rate
- Delivery times can be quick compared to SWIFT payments
| Advantages of using a specialist provider | Disadvantages of using a specialist provider |
|---|---|
| ✅ Low fees and good exchange rates
✅ Send to a broad range of countries and currencies ✅ Payments can often be deposited quickly ✅ Get help in app or by phone if you need it |
❌Variable fees apply depending on the provider
❌ No face to face service option |
It’s also helpful to know that some specialist services which offer money transfer products also have account and card services which let you hold and exchange many different currencies in one account. Wise for example has a multi-currency account you can use to hold 40+ currencies, with the mid-market rate for exchange when you send or spend. This could be an additional handy tool if you plan to live in or visit the country you’re buying a property in regularly.
How to send money abroad with a specialist provider
Here’s how to send money abroad with a specialist provider:
- Choose your preferred provider and follow the steps to register an account
- Get verified by uploading images of your ID and address documents
- Enter the amount and currency you want to send to generate a quote for fees and rate
- Add the recipient information following the prompts – for high value payments you may need to provide additional details or documents
- Fund the payment using your preferred payment method
Using a bank
If you plan on sending a bank transfer to cover the costs of your overseas property purchase, it’s good to know that most banks use the SWIFT payment network. SWIFT is a safe and reliable payment method, but it can also be slow and expensive.
In SWIFT several different banks can work together to process a single payment, passing it along the chain until it lands in the correct account in the end. Each provider can charge a fee which is deducted as they handle the transfer, and which may mean the recipient gets less than you expect in the end. Aside from third party fees like these, banks may also have fairly high fees for large payments, plus exchange fees.
A little later we’ve compared a couple of money transfer services against 2 popular Australian banks – ANZ and Commbank – as an example of costings and what you might expect if you choose to transfer money to buy property overseas through your bank.
| Advantages of using a bank transfer | Disadvantages of using a bank transfer |
|---|---|
| ✅ Safe and reliable
✅ Send to more or less any country in the world ✅ Get branch services when needed ✅ Some providers waive transfer fees for foreign currency payments |
❌ Fees and exchange costs can be high
❌ Digital payments usually have very low limits, and in branch fees can be more than using the online system |
How to send money abroad with a bank
Here’s how to send money abroad with a bank:
- Check your bank’s international transfer limits which can vary by payment method – decide if you need to send in a branch or if you can make a digital transfer
- Set up your payment online or in a branch by showing your ID and having a teller help you
- Check the fees and exchange rates for your payment
- Fund the payment from your preferred bank account
Comparing banks and providers
There are several different ways you might choose to send money abroad to buy property from Australia, including specialist providers and banks.
Specialist services like Wise and OFX often allow you to generate a no obligation quote, even without registering a customer account. This means you can see how much your transfer would cost – and what the recipient might get – before you sign up.
Banks will only offer international payment services for existing customers, so to see the full details of your transaction you’ll need to log into your online or mobile banking.
To give a flavour of your options, here’s a look at the costs of sending a high value payment to the US from Australia, with Wise and OFX:
| Transferring 50,000 AUD to USD | ||||
|---|---|---|---|---|
| Providers | Services provided | Currency Exchange | Send money fees | Total received |
| Wise | International money transfer, multicurrency account | 0.653550
Mid-market rate |
192.81 AUD | 32,551.49 USD |
| OFX | International money transfer, currency risk management services | 0.648749 | 0 AUD | 32,437.44 USD |
| ANZ | Swift transfer, banking services | 0.633846 | 0 AUD | 31,692.29 USD |
| Commbank | Swift transfer, banking services | 0.630605 | 0 AUD | 31,530.26 USD |
<p><small>Details correct at time of research – 17th June 2025. Information from the Wise comparison page </small></p>
Of the banks and providers we looked at, Wise is the only one to use the mid-market exchange rate, and the provider that allows the recipient to receive the highest amount in USD in the end. Ultimately the costs of any transfer depend on many factors, so you will still want to compare and weigh up a few for your own high value payment – next we’ll cover more detail about each provider, to help you decide.
Wise
| 💡 Great for: Fast low cost transfers to 140+ countries with the mid-market exchange rate |
Wise is a specialist in international payments, accounts and card services for personal and business customers. If you need to transfer money to buy a property abroad, Wise can be a great option as there’s no fee added to the exchange rate you’re offered. Instead the fees are split out for transparency, and you may even benefit from progressive fee discounts if you send a payment over 20,000 GBP in value – about 41,500 AUD. You’ll see all the costs and the rate you get before you confirm your transfer, allowing you to compare your options and check you’re getting the best possible deal.
Aside from international payments, Wise also offers multi-currency accounts you can use to hold and exchange 40+ currencies, the international Wise Card and business services.
Transfer limits:
- Bank transfers – up to 1.8 million AUD
- Card – up to 18,000 AUD
- PayID – up to 50,000 AUD
- RTGS – no limit
- From your Wise Balance – up to 5 million AUD
Estimated time of arrival to recipient: 60%+ of transfers are instant, 80%+ arrive within an hour*
Send money fee structure: Variable fees from 0.65%
<p><small>(*The speed of transaction claims depends on individual circumstances and may not be available for all transactions)</small></p>
Is Wise safe?
Yes. Wise is a digital first company which has been built with security at its heart. Payments are processed securely, and accounts are covered by 2 factor authentication and other industry level security features.
OFX
| 💡 Great for: Arrange your high value payment with no transfer fee, with the option to transfer by phone if you’d like to |
OFX is a specialist in currency exchange and payments, and offers transfers from Australia to many other countries, with no transfer fee on higher value payments, and a low exchange rate markup. There are no transfer fees on payments over 10,000 AUD, with a 15 AUD fee below that. You can arrange your payment online, in app or by phone, which may appeal to people who prefer to talk through their payment needs.
Aside from payment services, OFX also has currency risk management solutions for individual and business customers.
Transfer limits: Usually unlimited
Estimated time of arrival to recipient: 1 – 2 days
Send money fee structure: 15 AUD fee for payments under 10,000 AUD, waived above that
Is OFX safe?
Yes. OFX is a large, well liked and tested provider which uses high level security and also has a 24/7 phone service you can call if you’re ever unsure of anything related to your payment.
ANZ
| 💡 Great for: Phone and digital transfers from Australia, with no ANZ limits on phone payments, and which waive the correspondent bank fees on key routes |
If you want to make your payment overseas with a bank, and have an account with ANZ, this can be a familiar and relatively easy option. ANZ has no fee for high value phone and digital payments, although the exchange rate used to convert your payment will include a markup – which is a fee. On high value payments in particular this can push up the overall costs a lot.
It’s also worth noting that correspondent bank fees may creep in with payments processed through SWIFT, which is the network used by ANZ and other major banks. ANZ will cover the correspondent costs on many major payment routes, but if you’re sending somewhere which is not covered, you’ll pay these additional fees on top of the transfer charge and rate markup.
Transfer limits: 1,000 AUD is the standard digital limit, which you can raise to 25,000 AUD using ANZ Shield. No ANZ limits on phone payments
Estimated time of arrival to recipient: SWIFT payments may take 1 – 5 days to arrive
Send money fee structure: For payments arranged online or by phone under 10,000 there’s a 9 AUD fee, waived beyond that. Discounts or waivers apply on payments to to Cook Islands, Fiji, French Polynesia, KiribatiSuperscript:5, New Caledonia, Papua New Guinea, Samoa, Solomon Islands, Timor Leste, Tonga and Vanuatu
Is ANZ safe?
Yes. ANZ is safe and has enhanced security measures for digital payments over 1,000 AUD in value to keep customers and their accounts safe.
Commbank
| 💡 Great for: In branch transfers when you want to talk your payment through face to face |
Commbank has a pretty low limit on the amount of money you can send digitally from Australia, so if you’re transferring money to buy property overseas it’s likely that you’ll need to do so in a branch. This can appeal to people who prefer to manage their money in person – but it does come with a higher fee of 30 AUD plus any exchange and correspondent bank costs.
Transfer limits: Send up to 5,000 AUD online, or unlimited amounts in a branch
Estimated time of arrival to recipient: SWIFT payments may take 1 – 5 days to arrive
Send money fee structure: No fee for online payments – in a branch you’ll pay 30 AUD per transfer
Is Commbank safe?
Yes. Commbank manages higher value payments in a branch for enhanced security. You may be asked to complete security and verification steps to process your payment.
How to choose a provider
It’s really important to choose the provider that best suits your needs when sending money abroad, to avoid unexpected issues down the line. That means investing a bit of time upfront to decide which option best meets your specific requirements. Things you should consider include:
- Check your provider is safe to use, and is licensed and regulated in Australia
- Make sure that the provider supports the currency route you need
- Look at the recent feedback on the provider which you can find online on sites like Google and Trustpilot, to see what their service standards are like
- Check the transfer limits which may vary for digital payments – if your bank has low digital payment limits, consider an alternative with higher limits like Wise or OFX
- Check the fees including the costs which are built into the exchange rate – see what the recipient gets in the end as the most consistent way to compare
What if I don’t have a bank account overseas?
If you don’t have a bank account overseas, it is still possible to make international transfers to third parties with services like Wise and OFX. You’ll just have to get the bank account information for the person you’re sending money to, and use this to set up your digital transfer with your preferred provider. Pay from your Australian bank account and the money is deposited to the overseas bank account without you needing an account yourself in the foreign country.
Or, if you’d prefer, multicurrency accounts can also be another alternative, allowing you to hold money in multiple currencies and then make a transfer from your foreign currency balance without needing currency conversion.
As an example, Wise offers a multicurrency account which can hold 40+ currencies and send money to 140+ countries around the world. You can also get local and SWIFT account details for 8+ currencies to receive payments easily in foreign currencies when you need to. When it’s time to send a payment overseas to buy property, you can simply use your foreign currency balance to do so with no further conversion required.
Order a Wise debit card for easy withdrawals and spending, and you can then use our Wise account for day to day money management in AUD and other currencies. There are no ongoing fees and no minimum balance, making this a low cost option for anyone living an international lifestyle.
What is the limit for sending money overseas?
Each provider, and each bank has its own transfer limit, although in some cases you can increase this by visiting a bank directly or calling the provider to talk through your options. Limits may also vary based on the currency and your status with the provider or banks.
Aside from this, you’ll need to check if there are any limits based on the country you’re sending to, which may be imposed by the local authorities there. It’s always a good plan to have a reliable local team overseas when you’re buying a home, who should be able to guide you on this point.
| Provider/Bank | Transfer limits |
|---|---|
| Wise | Limits set by currency, usually around 1 million GBP – about 2 million AUD |
| OFX | Usually unlimited |
| ANZ | 1,000 AUD is the standard digital limit, which you can raise to 25,000 AUD using ANZ Shield. No ANZ limits on phone payments |
| Commbank | Send up to 5,000 online with higher value payments available in a branch |
Tax implications on buying property overseas
Tax can be complicated – and it’s even more so if you’re buying property overseas as you might also have to consider the tax implications in the foreign country. It is crucial that you take advice in Australia and in the country you’re buying a home in, so you comply with all the rules.
In Australia the tax regulations when buying property abroad can depend on your residence among other things. Assuming you’re an Australian resident for tax purposes, the ATO states you need to declare any rental income, and capital gains tax (CGT) may apply when you sell.
Tax rules overseas can vary a lot. If you pay tax on your rental income overseas you might find you can claim deductions in Australia. However, as this all depends on the nature of the situation, you’ll want to get professional advice to ensure all your bases are covered, at the earliest possible opportunity.
Regulations for sending large international transfers
While there’s not a legal limit on the amount you can send overseas to buy property, if you send a digital payment of 10,000 AUD or the currency equivalent, the payment is reported to AUSTRAC by the bank or payment provider which processes it. As the sender you do not have to do anything, as long as you’ve picked a reputable and licensed provider to manage your payment in the first place.
Do I need to declare foreign property overseas?
If you are an Australian tax resident you must declare your worldwide income to the ATO. This includes rental income from a foreign property if you have any, and any gains you make when you sell the property.
If I rent my property overseas, how do I declare the money received?
If you receive rent on the property you own overseas, and you’re a resident in Australia, you must declare any rental income you earn on your Australian tax return. If you pay tax on the income in another country which has a tax treaty with Australia you may be able to apply for an Australian foreign income tax offset.
Get professional advice to help you stay compliant and manage your foreign taxes as efficiently as possible.
What are the best countries to invest in real estate?
There’s no single best country to buy real estate – the best country for you will depend on the circumstances. This guide does not include investment advice, so you’ll need to take professional guidance before you buy to make sure you’re making the most of your money, particularly if you’re buying as an investment.
Other reasons to buy include to get a home for you and your family to relocate to or as a holiday home. If you’re planning to relocate, bear in mind that property ownership doesn’t always mean you get a visa – look out for countries which offer a Golden Visa scheme which may make it easier to get a visa if you invest in real estate. Popular countries to buy property in from Australia can include Portugal, Italy, France, and the UK – but what’s right for you will depend entirely on your personal preference and circumstances.
Can you get a mortgage on a property overseas?
If you want to get a loan to pay for your new property overseas, you may be able to apply before you leave Australia, or in the country you’re buying in. In Australia there’s no barrier to a bank offering a loan on a foreign property, but this isn’t always a service that’s offered. You may have more success if you work with a specialist mortgage broker to set up your loan.
If you want to take a local mortgage in the country you’re buying in, you’ll need to check the local bank policies. It’s common for foreign buyers to be asked for higher down payments for example, so do research before you decide to take this route.
5 tips for purchasing property overseas
To finish up we’ll look at some common sense tips for purchasing property overseas, to help make sure everything happens smoothly:
- Understand the law of the country you are buying the property: foreign ownership can be restricted or not allowed at all in some countries
- Exchange rates: before you send any money overseas compare transfer fees and rates across several banks and providers. A small difference in the rate can add up to a huge amount when you send a high value payment
- Seek help from local agents and legal professionals: navigating a foreign property purchase is tricky, and you’ll be best set to get everything over the line with a strong team on the ground in the country you’re buying in
- Send money with a trusted provider: only ever deal with licensed and trusted banks and money transfer services to make sure your funds can be delivered securely and without undue delays
- Be careful of fraud: buyer protections overseas may not be the same as in Australia, and foreign buyers may fall victim to fraudsters – get good local advice and educate yourself on common risks and scams before buying
Conclusion – What is the best provider?
Whether you want a new home to live in, a holiday place or an investment overseas, buying a property abroad can be a smart move. The rules and processes for buying property overseas can vary a lot depending on the country you select, so having a strong local team of advisors is essential. Once you’ve found the right place for you, you’ll also need to decide how to pay for your purchase with low fees, great exchange rates and quick, secure deliveries. This guide gives you a few options to consider.
You could send your payment using a bank transfer, but this can be inconvenient if you need to visit a branch, and may also come with high costs to transfer and exchange currencies. As an alternative, compare the costs and rates of providers like Wise and OFX which may offer a sleek digital solution to help you send money overseas securely for a low overall cost.
FAQ about transferring money overseas to buy property
How to transfer large amounts of money overseas?
You can transfer large amounts of money abroad in several ways. Banks can help you with face to face service and great coverage, but their overall costs may be quite high. Specialists like OFX and Wise offer digital payment solutions which can have below fees and great rates, but you can’t get branch service – weigh up the pros and cons of each to help you decide.
What is the limit for sending money overseas?
Different banks and providers have their own limits on the amount you can send overseas, and local countries may also have restrictions you’ll need to learn about. If your bank has a low limit for digital payments you might want to compare alternatives like OFX which has no upper payment limit, or Wise which has very high limits of over 2 million AUD in most cases.
What are the best countries to invest in real estate?
There’s no single best country to invest in real estate. If you’re thinking about buying a property overseas as an investment it’s important to get professional support and advice to make sure you make the most of your money.
