Find the Best Way to Transfer Money to South Africa

To find the best way to transfer money to South Africa, you should compare your options. Even before you do that, it's important to understand how it actually works.

How to transfer money to South Africa from Australia

While each bank and money transfer service is different, you will always need to follow these steps to transfer your money safely and quickly:

  1. Setting up an account usually takes 5-10 minutes and make sure you have some I.D. on hand
  2. Enter the bank details of the person or company you are sending the money to
  3. Pay for your transfer using a card or bank transfer

Now that you know how to transfer money to South Africa, you can compare your options. We understand, this isn't easy.

Every bank and money transfer company offer different exchange rates and fees depending on how much you want to send.

That's why using our table compares the total cost of the transfer, based off the amount of your transfer.

Compare cheaper ways to send money from Australia to South Africa

How to find the cheapest way to transfer money from Australia to South Africa

Banks and money transfer services will offer different exchange rates and fees depending on your amount. To find the cheapest option, you really need to compare the total cost of the transfer based on your amount.

1

Enter your amount Banks and money transfer services offer different rates and fees depending on how much you transfer

2

Compare your options Your comparison is ranked from cheapest to most expensive

3

Learn more To learn more about how it works, go to their website

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Keeping your money safe

We've made sure that all the money transfer services and banks you compare are safe. Each company:

  • Is regulated in Australia and South Africa
  • Holds an appropriate financial services license
  • Have strict privacy policies

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More helpful information, tools and videos

Here at The Currency Shop, you’ll learn how to save on transfer fees when sending money overseas from Australia.

We have fast and easy guides and tools including:

Knowledge centre

for everything you need to know about converting and sending money abroad.

Currency converter

to find today’s exchange rates.

Money transfer comparison tool

to find the cheapest rates and lowest fees.

Frequently Asked Questions about Sending Money to South Africa from Australia

How do I transfer money to a South African bank account?

1

Register your details To transfer money internationally, you'll need to register first. Make sure you have valid ID like your passport or driver's license

2

Provide money transfer details Your money transfer service will need to know the currency, amount, and the account or person you’re sending money to

3

Pay for your transfer Choose how you want to pay for the transfer. Your bank or money transfer service will then convert the money and send it overseas

What information do I need to make a transfer?

To send money to South Africa from Australia, you’ll normally need the following information:

  • Your name, address, identity verification and payment details.
  • The name and address of the beneficiary or recipient you’re sending money to.
  • The recipient’s bank account details including the name of the bank and account number.
  • In all cases you will need to provide the BIC or SWIFT code.

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

It depends on the provider you choose, how you pay for the transfer and how the recipient wants to get the money. Most money transfers to South Africa via a specialist provider will take 0 to 2 days.

How can I pay for my money transfer to South Africa?

Depending on your provider, there are several different ways to pay. Many providers accept direct bank transfers, wire transfers, or debit or credit card payments. They may charge a small additional fee, depending on how you decide to pay.

Is it safe to use The Currency Shop to compare?

Yes. The Currency Shop holds an Australian Financial Services Licence (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.

How does The Currency Shop make money?

The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.

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Transferring money overseas from your Australian bank account is simple once you know how to do it, but you might be short on time to figure it out.

Need a hand? Call 1800 004 930 or send us an email.