Sending money to Australia from South Africa can be full of hidden fees and costs. Here's how to avoid them.

Depending on your situation, some money transfer companies are better than others. We've looked at your best options for larger transfers to Australia from South Africa, sending money to family, for property, business or study.

There is also a handy money transfer comparison table that will help you find the cheapest way to transfer money based on your currency and amount.

send money from South Africa to Australia

Why Are You Transferring Money to Australia from South Africa?

The best way to send money to Australia from South Africa can depend on the reason you're making the transfer. Choose the situation that most suits yours below and click on the title.

Calculate the Cheapest Way to Transfer Money to Australia from South Africa

Provider Exchange
Total (ZAR) Rates last updated October 22 2018
OFXRead Review 0.0966 $50.00 1-3 Days R103,528.96Lowest Cost Option Go to site Read Review
So, sending AUD 10,000 to Australia at an exchange rate of 0.0966 will cost you R103,528.96 which includes a fee of $50.00

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.


  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
  • Fantastic customer service


  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers

How It Works

Step 1
Enter currency and amount you need
Step 2
Compare great exchange rates from top providers
Step 3
Make the transfer right in the provider website!

Tips for making an international transfer 3m 15s


Transferring a Large Amount of Money

If you are sending a large amount of money between Australia and South Africa, the most important things to consider are:

1. The safety and security of your money
2. The exchange rate being offered
3. Any extra fees

When transferring a large amount of money, consider using TorFX

TorFX specialise in transfers into Australia. With local support in Australia, they provide an personal account manager for each customer. Having someone to talk to is particularly important when sending a large amount.

They also offer much better rates for large transfers and charge no fees. While their email and phone support is exceptional, their online platform is not the easiest to use. Also keep in mind that for smaller transfers, they may not be the cheapest option.

Related Review: Learn more about TorFX here


Moving to Australia from South Africa

Moving your money to Australia can be just as expensive as moving your house depending on what exchange rate you get.

The most important things to consider are having customer support both here and overseas and the exchange rate.

When transferring money back to Australia, consider using TransferWise

TransferWise offers you the wholesale exchange rate that you see on Google. They also reduce their percentage based fee for larger amounts.

They have a global network of customer support hubs with extended hours. We also like that you can contact them by email, online, or via facebook. Also, the pricing is transparent and clear. They always offer the same exchange rate you see on Google and the fee they charge is clearly displayed so you know exactly how much the transfer will cost.


Sending Money to Friends and Family

Spending extended periods of time away from home can be a struggle at times. This is especially true when you are missing out on important events with your friends and family. If you are looking to send a small amount of money home, Western Union is a good choice, but can also be more expensive. With larger amounts, you should find providers other than Western Union that can offer you a fee waiver for your transfer.

This is the main reason why you should search for providers that suit your needs, and discuss your options with money transfer specialists.

When sending money family and friends, consider using OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. The company was born online and continues to develop easy, intuitive products.

They are an excellent option for safe regular transfers, and have much better rates than companies like Western Union.

Related Review: Learn more about OFX here.

Worldremit logoWith 2 million users, WorldRemit has a focus on improving access to remittances for the billions people worldwide who don’t have access to banking. Because of this, WorldRemit has a number of ways to both make and receive transfers.  They concentrate on servicing individual needs as opposed to businesses.

They are an excellent option for smaller transfers, and have much better rates than companies like Western Union.


Buying or Selling Property

If you are buying a property in Australia or have sold your property and need to send the money back to South Africa, look for a bank or money transfer company that has a strong presence both in Australia and South Africa.

This will give you the flexibility and support you may need leading up to settlement.

When transferring money for property, consider using TorFX

TorFX is an ideal choice for property settlement transfers, because each customer has a local account manager who can guide them through each step.

They are fully licenced and regulated in Australia and also offer the extra peace of mind of a global support network.


International Money Transfers for Business

Transferring money for your business? Find the best option with these 2 key features:

1. Lower exchange rate margin – this is the difference between the wholesale exchange rate you can see on and the rate you get

2. The business products they offer like forward exchange contracts, foreign currency accounts and limit orders

When transferring money for a business, consider using TransferWise

TransferWise, a company based in London that offers you the wholesale exchange rate that you see on or Google. They also reduce their percentage based fee for larger amounts.

Their borderless account allows you to set up a local account in GBP, USD, EUR or AUD. Watch our review for all the details.


Studying in Australia

Let’s face it. Tuition is increasing and many international students are faced with massive fees that can range from $15,000 to $50,000 annually. Then add living expenses, accommodation and bills to the equation and you’re looking at a significant amount of money you might need to send from home.

For large full time tuition payments, make sure you take note of the best exchange rate.

Taking a part time course? With smaller payments, make sure you know the transfer fee that is being charged.

When transferring money for overseas education, consider using WorldFirst

WorldFirst was launched in 2004 and promoted itself as providing fast and fair ways for people to move money across borders – a more competitive alternative to traditional big banks.


Importantly, they don't charge a money transfer fee, but it's important to note that they have a minimum transfer size of $2,000.


Frequently Asked Questions

How long does it take to send money to Australia from South Africa?

Paypal and Western Union (cash pick-up) are the fastest options. The transfer can be done in minutes.
If you are sending the money to a bank account, it will take 1-2 days if you are using a bank.
Or 2-3 days if you are using a money transfer company.

How do I use a money transfer company (instead of a bank)?

Sending money using a money transfer company is similar to using a bank, but there are some important differences. Here are the main steps to do it online:

Setting things up (only has to be done once)

  • Log on to their website and register your details. You’ll need to have some I.D. handy
  • Once your account has been approved, you’ll get a login and password
  • Enter the banking details of where you are sending the money. They are usually called the “Beneficiary” or “Recipient”

Tranferring Money

  • Get a quote for the amount you want to send
  • Confirm the details including the rate and how much it is in Australian dollars
  • You’ll get a deal confirmation. Finally you’ll need to pay them the Australian dollars before the money is sent.
What options are there to transfer money to Australia from South Africa?

1. The Bank Overseas Sending the Money

Getting the bank overseas to convert the money before it is transferred to Australia is an easy option but you don’t always know what exchange rate they will use. In some cases, the overseas bank will give you a better exchange rate than a local bank. This is particularly true for transfers from Thailand, Malaysia and India.

2. Your Bank in Australia

This is by far the easiest option. Unfortunately, banks generally have higher fees and uncompetitive exchange rates. But this doesn’t mean you should never use a bank. For small amounts under 1000 dollars they are worth considering.

3. A Money Transfer Company

Money Transfer Companies like OFX and TransferWise are often the cheapest option when you are receiving between $1000 and $1,000,000 from overseas. This is because they offer better exchange rates and lower (and sometimes no) fees. The downside to using a transfer company outside of a bank is that you’ll have to set up an account with them first. Once you have registered your details, you’ll need to ask for their bank account details and transfer your foreign currency to their account before it’s converted and deposited in your local Australian dollar account

Exchange Rates and Fees in Australia
What information do I need to make a transfer?

To send money overseas, you’ll need the following information of the bank account you are sending the money to:

Beneficiary or Recipient Details

  1. The Account Name of your Recipient (person/business you are paying)
  2. Their address
  3. The SWIFT Code of their bank. If you are paying in Australian dollars, you'll need their BSB number too


A note about sending money to :

It is particularly important to make sure ALL the bank details you use are correct. Banks are picky and will reject a payment even if a single digit is wrong or a single letter is out of place.

Swift Codes

Here is a list of SWIFT codes for the biggest banks in Australia:


Commonwealth Bank : CTBAAU2SXXX

Westpac Bank : WPACAU2SXXX

National Australia Bank: NATAAU33XXX

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.