St. George 2018 Review

As you browse the St. George 2018 review, you will find out everything you need to know from the pros and cons of other features and how to apply for your own account.

When you transfer money internationally using Australia’s St. George Bank, you will get the peace of mind that comes from working with a large, established bank. In addition to all of their traditional banking services for individuals and businesses, St. George offers their own international money transfer service.

Transferring your money from your account to an account elsewhere in the world can be anxiety-provoking and expensive. Using an established bank with international industry ties can make the process better for you.

In reading this review of St. George international money transfer service, you’ll gain insights to help you decide if a bank in general, and St. George in particular, is the right fit for your money transfer needs.

Pros
  • Flat rate transfer fees
  • Peace of mind from established, respected reputation in the banking industry
  • Support through online, telephone, and in-person channels
  • Easy-to-use internet banking services
Cons
  • Higher rates than those of specialised money transfer companies
  • Several other possible fees in addition to the initial flat-rate fee
  • Transfer time isn’t explicitly given, and the process may be slower than the one- to three-day time provided by transfer specialty companies
  • Dailey transfer limit of $50,000 could be restrictive

How it works

To transfer money internationally through St. George, you must first open an account at the bank. The first time you move money using online banking, St. George must grant you access to international transfers. The registration process is simple, and once the bank receives your request form, processing takes approximately two days.

As soon as your request is approved, you can begin transferring money using online banking. Alternately, you can stop by your local St. George bank and receive assistance transferring money.

How much does it cost?

St. George charges a flat rate transfer fee of $20 to send money to overseas accounts in Australian Dollars. The flat fee for transferring money overseas in a foreign currency is $10 per transfer. Internet banking fees are lower than the charges of in-branch services.

Additional fees may be charged by St. George, destination banks or institutions, and by intermediary banks involved in the transfer. Other charges by St. George include such things as trace fees, cancellation fees, and amend fees and can reach $65. St. George doesn’t set fees for other banks and financial institutions involved in your money transfer.

How safe is it?

As an established, reputable bank, St. George uses security measures that are high-end and technologically sound. Anti-virus protection, firewalls, secure transmissions, encryption technology, data integrity, and more ensure the safety of your account and your money.

You can rest assured that your money will reach its intended destination. If there is a claim that funds were not received, St. George can and will trace it.

How do I send or receive money from overseas?

The process is straightforward. Once you have registered for overseas transfers, you initiate the transfer through your internet banking account. You may do this any time of day, any day of the year, at your convenience.

In-person service is also available if you prefer. You may stop by a St. George branch and work face-to-face with a professional who will assist you in your transfer.

Receiving money from overseas is just as easy as sending it. All you need to do is to provide your sender with St. George’s SWIFT code or, for US senders, the routing number, your account number, and the bank’s address. You may be charged transfer fees as per the sending institution’s policies.

How do I pay?

You have two payment options when transferring money internationally with St. George. You may do so in person at a St. George branch bank. One of their professionals will assist you as needed and will accept payment.

The other payment method is through internet banking. Once you create an internet banking account, you can complete, and pay for, all of your transfers on your own at your convenience. With internet banking comes an international money transfer fee that is slightly lower than in-branch transfers.

Can I pay by credit card?

The St. George website neither confirms nor refutes their acceptance of credit cards for international money transfers. The bank welcomes inquiries of all sorts, and you can contact them with questions about credit card use or about other money transfer and banking matters.

What exchange rate will I get?

You will receive the exchange rate current at the time of your transfer. Because these rates vary, St. George’s cannot guarantee an exact rate. For your convenience, they provide the exchange rate on their website for you to view. It serves as a guideline only and isn’t a guarantee of rate.

What currencies can I transfer?

St. George allows international money transfers in 17 different currencies. These include:

  • GBP British Pound
  • NZD New Zealand Dollar
  • USD United States Dollar
  • JPY Japanese Yen
  • EUR Euros
  • CAD Canadian Dollars
  • CHF Swiss Franc
  • DKK Danish Kroner
  • FJD Fijian Dollars
  • HKD Hong Kong Dollars
  • INR Indian Rupees
  • NOK Norwegian Kroner
  • PHP Philippine Peso
  • SEK Swedish Kroner
  • SGD Singapore Dollars
  • THB Thai Baht
  • ZAR South African Rand

Check this currency converter to discover the relationship between the Australian Dollar and other foreign currency values before you initiate an international money transfer.

What services do they offer for businesses?

St. George is a large bank serving individuals, businesses, and corporations and offering specialised services for each. Online business banking allows companies to manage their accounts in ways that best suit them. Organisations can take advantage of St. George’s Global Dealer, an electronic foreign exchange platform that is convenient, easy to use, and comprehensive, allowing users to track currency exchanges and other international business matters.

St. George Bank provides safe, reliable, and convenient international money transfers. Transfers are secure and can be done independently with online banking or with assistance from bankers in person or over the phone. Their flat fees are an advantage, while their overall fees may be higher and their transfer time slower than some money transfer specialists.

Compare money transfer services like St. George

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TransferwiseRead ReviewTotal (AUD)$13,987.86Exchange Rate0.7182Transfer Fees$64.16Transfer Time1-2 DaysLearn MoreTotal (AUD)$13,987.86Rate Updated less than 3 mins agoGO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.7182 will cost you $13,987.86 which includes a fee of $64.16

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review

Pros

  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products

Cons

  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

More trusted money transfer options

Provider Exchange Rate Transfer Fees Transfer TimeTotal (AUD) Rate Updated less than 3 mins ago
TorFXRead ReviewTotal (AUD)$13,993.67$5.81 more expensive Exchange Rate0.7146 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $13,993.67$5.81 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.7146 will cost you $13,993.67 with no fees.

About TorFX

TorFX are particularly good taking care of customers over the phone but using their website isn't the easiest to use. They don't charge a flat fee which is great but it's important to consider their exchange rates. While, they don't offer fantastic rates for small amounts under $2000 , TorFX offer exceptionally good exchange rates for larger transfers to the UK, New Zealand, South Africa and Europe.

Pros

  • No transfer fees
  • Highly competitive exchange rates
  • Secure transfers with authorised
  • Assigned account manager
  • 24 / 7 Assistance
  • Available range of transfer options

Cons

  • Limited exotic currencies available
  • Exchange rates on small transfers aren't great
  • Website experience could be better
XERead ReviewTotal (AUD)$14,004.93$17.07 more expensive Exchange Rate0.7140 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $14,004.93$17.07 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.7140 will cost you $14,004.93 with no fees.

About XE

XE is a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year. Over 60 currencies can be transferred with XE and they pride themselves on the free tools and transparent rates they offer. Click here to read the full review

Pros

  • Well known and trusted brand.
  • Very informative website. Extensive information on currency and money transfers.
  • XE App is available on both iOS and Android. It allows you to see the interbank rate for over 100 currencies.
  • XE themselves charge no fees for international money transfers.
  • Offers support for both individuals and businesses when it comes to international money transfers.

Cons

  • Cannot pay via cash or cheque. Must pay via bank transfer, BPay is also accepted in Australia.
  • Maximum transfer amount is $500,000USD.
  • While XE compares more than 100 currencies, there are only 60 that are available for money transfers.
WorldFirstRead ReviewTotal (AUD)$14,007.74$19.88 more expensive Exchange Rate0.7139 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $14,007.74$19.88 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.7139 will cost you $14,007.74 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review

Pros

  • No fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments

Cons

  • Does not accept BPAY, credit card, cheque or cash
  • Limited currencies available
WorldRemitRead ReviewTotal (AUD)$14,077.40$89.54 more expensive Exchange Rate0.7106 Transfer Fees$3.99 Transfer Time1-2 DaysGet discounted rate $14,077.40$89.54 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.7106 will cost you $14,077.40 which includes a fee of $3.99

About WorldRemit

WorldRemit are particularly good for transfers under $10,000 to destinations across Asia, Africa and South America. Sending money online is significantly easier than using companies like Western Union or Moneygram and their exchange rates and fees are clear and transparent. With 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. Click here for the full review

Pros

  • They have a great network in Asia and Africa and number of receiving options like cash-pick up or bank transfer.
  • They are clear about their exchange rates and fees
  • No minimum amount

Cons

  • Maximum transfer sizes for every transfer
  • No support for business customers
  • They are not licensed to provide financial advice.
OFXRead ReviewTotal (AUD)$14,192.45$204.59 more expensive Exchange Rate0.7046 Transfer Fees$0.00 Transfer Time1-3 DaysGet discounted rate $14,192.45$204.59 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.7046 will cost you $14,192.45 with no fees.

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.

Pros

  • 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

Cons

  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers
ANZRead ReviewTotal (AUD)$14,324.60$336.74 more expensive Exchange Rate0.6981 Transfer Fees$0.00 Transfer Time1-2 DaysGet discounted rate $14,324.60$336.74 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.6981 will cost you $14,324.60 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.

Pros:

  • Fast transfers
  • Safe and secure
  • No fee for transfers under $10 000 via Internet banking

Cons

  • $12 fee for transfers under $10 000 via Internet banking
  • Poor exchange rates
  • 24 hour hotline not available
Commonwealth BankRead ReviewTotal (AUD)$14,791.78$803.92 more expensive Exchange Rate0.6766 Transfer Fees$12.00 Transfer Time1-2 DaysGet discounted rate $14,791.78$803.92 more expensive GO TO SITE
So, sending USD 10,000 to United States at an exchange rate of 0.6766 will cost you $14,791.78 which includes a fee of $12.00
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.

Pros:

  • Fast transfers+ Easy transfers
  • Security guarantee covers any losses from unauthorised transactions

Cons

  • $6 fee for transfers under $1000 via Internet banking
  • $12 fee for transfers under $1000 via Internet banking
  • Poor exchange rates