Transferring money to the UK | Compare & Save

Compare exchange rates, fees and transfer times in seconds for an efficient and cost-effective international money transfer to the United Kingdom. I'd like to ... TransferringmoneytotheUKCompareexchangerates,feesandtransfertimesinsecondsforanefficientandcost-effectiveinternationalmoneytransfertotheUnitedKingdomI'dliketoexchange$PleaseenteravaluegreaterthanzeroFromcurrencyloading...Tocurrencyloading...CompareratesWedon’tcompareallinternationalmoneytransferprovidersinthemarket.Attimes,certainprovidersorcurrenciesmightnotbeavailable.Learnmore.Whycompareinternationalmoneytransferswithus?CompareinsecondsYoucancomparetransferratesandfeesfrommultipleprovidersinamatterofsecondstofindgreatvalueonyournextmoneytransfer.LicensedprovidersWeonlyhavereputable,licensedpartners,soyoucanrelax,knowingyourmoneywillfinditswaytotherightaccountatagreatprice.NocosttoyouYouwillpayexactlythesamepriceonamoneytransferasyouwouldbygoingdirectlytotheprovider–wedon’tmarkupprices.HowtotransfermoneyfromAustraliatotheUKTheUKisthemostpopularmoneytransferdestinationforAustralians.Onaverage,around23%ofmoneytransfersfromAustralia–and$358millionannually–aresenttotheUK,accordingtoa2016majorbankstudy[i].WithmanywaystosendmoneyfromAustraliatotheUK,asimplesolutioniscomparinginternationalmoneytransfersthroughComparetheMarket.HowlongdoesaninternationalmoneytransfertotheUnitedKingdomtake?Itmaytypicallytake1–5businessdaystosendaninternationalmoneytransferfromAustraliatotheUnitedKingdom.However,thetimetakenwilldependonseveralfactors,likewhichbankortransfercompanyisused,anyintermediarybanks,thepaymentmethod(i.e.wiretransfer),currency(exoticcurrenciestakelonger),timezones,weekendorholidaydelaysandbankcut-offtimes.Howdointernationalmoneytransferswork?1SignupRegisteranonlineaccountwithamoneytransferproviderbysupplyingdetailslikeyourname,emailaddressandrequiredidentification.Thecompanymaythentakesometimeinordertoverifyyouridentityforfuturetransactions.2SendmoneyOnceyouraccountissetup,transfermoneyonlinetoanoverseasrecipientbysubmittingtherecipient’sbankaccountdetails,theamountyou’dliketotransfer,andthecurrencyinwhichyouwanttotransfer,beforepayingthetransferfee.3ReceivemoneyThemoneytransferissenttotherecipient’sbankaccount.Therecipientshouldbeawareofanyreceivingfeestheymayhavetopayforaninternationalmoneytransfer(e.g.processingfeesfrombanksandthirdparties).BestandcheapestwaystosendmoneytotheUK? ThereareafewdifferenttransferoptionstochoosefromwhenyouwanttosendmoneyoverseastotheUnitedKingdomfromAustralia.InternationalmoneytransferSetupanaccountwithanonlinemoneytransfercompanyandsendyourmoneyovertheinternet–thecompanywilltransferthemoneytotherecipient’sbankaccount.Thistransferoptioncanbefastandcheap,butyouneedtherecipient’sbankdetails.TransferthroughyourbankYoucantransfermoneydirectlyfromyourAustralianbankaccounttoanoverseasbankaccount.Thisisalsoknownasawire,SWIFTtransferortelegraphictransfer(TT).Thisoptionmighttakebetween2to5daysandmightnotbecheapasitmaybesubjecttofeesandanunfavourableexchangerate(dependingonyourbank).TransfercashThisoptionallowsyoutosendmoneytosomeoneoverseas,whichtherecipientcanpickupasphysicalcashfromalocaltransfercompanyofficeintheircountry.Thiscanbeaconvenientoptionwhensendingmoneytosomeonewithoutabankaccount,however,itmaynotbethecheapestoption.SomecompaniesallowyoutotransferviacashorEFTPOSatastorefrontorthird-partycounter,ortransferviaphone,internetorbankcardafteryousetupanaccount.InternationalMoneyOrder(IMO).YoucansendyourmoneytotheUKbyforwardinganinternationalcheque,whichyoucanpurchaseatyourlocalbankbranch.Theexactamountyouwanttosendwillbedebitedfromyourbankaccount;toernationalmoneytransferdtakelongerthanotheroptions.account.Thisisasafemethodtotransfermoneyinternationally,therecipientcancashinthischequeattheirbankordeposittheamountintotheirbankaccount.However,anIMOmaycostmoreandtakelongerthanotheroptions.FrequentlyaskedquestionsWhatdetailsdoIneedtotransfermoneytotheUK?TosendmoneytosomeoneintheUnitedKingdom,youwillneedyourownbankdetailsorparticulardetailsforthemethodofpayment,aswellastherecipient’sdetails,including:Thefullnameoftheaccountholderandtheirhomeaddress;Therecipient’sbankaccountnumberortheirIBAN(InternationalBankAccountNumber);Theaddressoftherecipient’sbankwhichistypicallyidentifiedbyaSWIFT/BICcode–thisisusually8or11characters,includinglettersandnumbers(e.g.PGYMHC3M);Therecipient’sSortCode(UKBankcode),whichistypicallya6digitfiguresplitinto3pairsofnumbers.Additionally,youmayneedtosatisfyidentificationrequirementsbeforeyoucansendmoney.CanItransfermoneyiftherecipientdoesnothaveabankaccount?Unfortunately,onlinemoneytransferscanonlybesenttoarecipient’sbankaccount.Ifyouneedtotransfermoneytosomeonewhodoesn’thaveabankaccountintheforeigncountry,youmaybeabletodosobysendingphysicalcashthroughacashtransferorbysendingachequethroughanInternationalMoneyOrder,whichtherecipientcandepositatalocalbank.IsthereanylimitonhowmuchmoneyIcantransfertotheUnitedKingdom?ThereisnolimitontheamountyoucansendinamoneytransfertotheUnitedKingdom,unlessyourtransferproviderorbankhasalimit.Differentmoneytransferprovidersmayimposemaximumtransferlimitsfortheamountyoucansendabroad,however,someprovidersmaynothaveanylimits.Also,youmayneedtoconsultyourtaxprofessionaltodetermineifthereisanygoodsandservicestaxorothertaxpayableifyouarepurchasingproductsfromoverseasandpayingforthembytransferringmoneyfromAustralia.ThismayalsochangeifyouarestillaUKresident,unlessyour‘domicile’orpermanenthomeisAustralia.Alwaysconsultyourprofessionaladviser.SeeallinternationalmoneytransfersFAQs