Man inputing data on laptop and holding mobile phone in another hand.

Every time you send money overseas, you’ll need at least 4 pieces of information. Depending on which country you are sending the money too, you may need additional information or a bank code.

 

Information that is required every time:

1.   SWIFT code of the bank you are sending the money to

2.   The name of the bank

3.   An Account name

4.   An Account number

 

Other information you may need:

·       The address of the bank you are sending the money to

·       The address of the person or company you are sending the money to

 

Country specific bank codes

Important Information for International Money Transfers

Along with the SWIFT code, some countries have a bank code. In Australia, we call them a BSB.

·       International Money Transfers to the USA have a routing number (also known as an ABA). It is always 9 digits long

·       International Money Transfers to the UK have a sorting code. It is always 6 digits long

·       International Money Transfers to the European Union have an IBAN number. This is a 13-digit alpha-numeric code and includes the account number as well as the bank code

 

Useful tools

IBAN checker and calculator – enables you to validate an IBAN, but also to find one based on the bank and account details.

SWIFT code search – Find the SWIFT code by entering the institution name, city and country.

Click here to read our post How long does an international money transfer take?

 


 

How to Find the Cheapest Way to Transfer Money Overseas

Compare The Total Cost

The total cost of the transfer comes down to 2 things:

Money transfer fees

1. Transfer Fees

Every Australian bank and money transfer company will charge you a different fee to send money overseas. Usually it’s between $10 and $32.

Exchange rate margin fees

2. Exchange Rate Margin

There is no “standard” exchange rate. Each bank will offer you a different exchange rate based on the currency you want to send overseas and the amount you need to send.


Money Transfer Comparison Tool


 


Fee Free Offer

OFX is a trusted partner of The Currency Shop. OFX customers using this link through The Currency Shop will not incur a transfer fee for their first two international money transfers, regardless of the size of the transaction.

GO TO SITE

Minimum transfer $250. Please note that the receiving bank or intermediary bank may charge fees on transactions.


Recommended For You

The currency shop calculator

Currency Calculator: Australian Banks and Money Transfer Specialists

This calculator helps you compare exchange rates and fees of banks and money transfer specialists.


 

Cheaper ways to transfer money overseas

5 Cheaper Ways to Transfer Money Overseas

Using a bank is one of the easiest ways of sending money overseas but it is also the most costly. Here are 5 cheaper alternatives…


 

How to transfer money back to Australia

Transferring Money Back to Australia

Transferring money back to Australia isn’t easy and can also be really expensive. This articles compares the best ways of moving money back to Australia.


Helping You Save Money on Currency

Buying travel money or transferring money overseas can be expensive and confusing. So how do you make the best choice and get the most out of your money?

An easy way is to use a comparison table for either international money transfers or currency exchange. These tables list and compare the banks with other large foreign exchange companies.

We’ve also put together tons of helpful videosguides and reviews that will help you make the right decision. You can work out a cheaper way of converting currency while still keeping your money safe.