Find the Best Ways to Transfer Money from Australia to South Africa
There are so many ways to transfer money from Australia to South Africa, it can be hard to work out the best way to do it. Some money transfer services are cheaper while others are fast. Some offer cash pick up while others will do it fee-free.
It really comes down to what you are looking for. This guide will show you:
- How to transfer money to a South African bank account
- Find the cheapest way to transfer money to South Africa
- Discover faster ways to send money overseas
- Learn which services allow you to send cash to South Africa
- Heaps of helpful information, video tutorials and money saving tips
1. How to transfer money to a South African bank account
1
2
3
2. Find the cheapest way to transfer money to South Africa
Compare money transfer services
Discover the cheapest way to send money to South Africa - follow these steps:
1. Enter the amount and currency you'd like to send to South Africa. Then 'Track down the best deal!'
2. Our tool will automatically provide the best deal for you. Choose the trusted money transfer option you like best.
3. 'Go to site' links you directly to the company website where you make your international money transfer.
3. Fastest Way to Send Money Overseas
Sometimes, you just need it done, now! The problem is, it's hard to work out the quickest way to transfer money to South Africa. When you need to urgently send money overseas, we know which service you should use.
Transferwise
This company is great if you want a fast, hassle-free and low cost way to send money overseas. They even have a transfer calculator to give you a rough idea of how long your money transfer will take.
TransferWise offer a quick, easy to use online service and mobile app, ideal for sorting out your international money transfers right now.
- It’s very fast and easy to create an account.
- They offer the best exchange rates available.
- You can pay via bank transfer, credit or debit card.
- There’s no minimum transfer size.
- Can't pay for your transfer via cash or cheque.
- There’s limited customer support, you can’t call them so need to interact via email or through their website.
- They don’t support all global currencies.
4. Transfer Cash to South Africa
If you want to send cash directly to the recipient, rather than pay money into their bank account, you have three options — Western Union, MoneyGram or WorldRemit.
Western Union has the largest network and is competitive for certain destination countries like India. On the other hand, WorldRemit is usually cheaper and their online service is easy to use. MoneyGram is our least favourite. MoneyGram charge a variable transfer fee so your fee changes every time you send cash internationally.
WorldRemit
WorldRemit offers a same day service to selected banks around the world. They have a large presence in Asian countries, so they’re a great choice if that’s where your recipient is.
WorldRemit always displays the expected delivery time before you pay for the transfer, so you know exactly how long it will take. If you want transparency, this is the company for you.
- Fee free option for first-time senders
- Easy to use WorldRemit's website and mobile app
- Quick and safe cash transfers
- Good customer service
- Some reports of delayed account set up
- Some reports of glitching in the app and website
5. 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.
Travel money tool
to get the best rate when you’re buying currency in Australia.
Money transfer comparison tool
to find the cheapest rates and lowest fees.
Frequently Asked Questions about Sending Money to South Africa from Australia
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.
Keep your transfer fees to South Africa to a minimum
Learning about currency transfer fees isn’t anyone’s idea of a good time, so we’ll keep this brief! When you convert Australian dollars to South African rand and send that money to South Africa, your bank, PayPal or a specialist currency transfer company may charge you in several ways:
As an increase on the standard exchange rate
this is the most common way you’ll be charged, and it’s simply a slightly worse exchange rate than the base exchange rate*. Some currency providers make money by offering you a slightly lower rate. For example, the base rate might get you 1,007 South African rand for $100 AUD, but a provider offers you 995 rand.
As a predetermined fee
some providers, especially banks, charge a flat rate of up to $35 AUD to convert between $AUD and South African rand.
As a commission or service charge
some providers deduct an additional percentage commission or service charge on the money you’re sending.
*The standard exchange rate is also known as the standard, mid-market or interbank exchange rate.
Some providers charge just one type of fee, whereas others combine fees in different ways. In most cases, a specialist, lower-cost currency provider will only charge between 0.5 percent and 1.5 percent of the amount you’re sending. For more information, check out this video.
When we calculate how much your recipient will get in our money transfer comparison tool, we take into account all of the different fees. Trust us to keep things simple!
Your currency knowledge centre
5 Cheaper Ways to Transfer Money Overseas
Using a bank is one of the easiest ways of transferring money overseas, but can also be the most costly. There are alternatives that can make the whole process cheaper.
- Read more ⟶
- 2 min read
International Money Transfer Comparison and Reviews
Find the best international money transfer exchange rates to send money overseas from Australia. Compare the rates and fees from leading banks and money transfer services.
- Read more ⟶
- 6 min read
How to Transfer Money Overseas from your Australian Bank Account
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.
- Read more ⟶
- 5 min read