Use Wise, formerly known as TransferWise. Wise makes it fast, easy, and cheap for you to send money to Australia. The Wise USA service is built for speed, simplicity, and transparency.
Wise customers can send money to 80+ countries around the world. Payments can be made online and in the Wise app, and are deposited right into the recipient’s bank account.
How Long Does Wise Money Transfer Take?
Wise transfers are fast. Typically much faster than banks. 40% of Wise’s international transfers are instant (delivered in less than 20 seconds), while 80% are delivered within 24 hours.
Ultimately how long it takes for your Wise money transfer to arrive will depend on the currencies and countries involved, how you pay for your transfer, and the value of the payment. If you’re making your transfer out of hours – or if there’s a holiday in the country you’re sending to, the money may take slightly longer to arrive on some routes.
Before you arrange your payment you’ll see an estimated delivery time, and you can then track your money in the Wise app to see how it’s getting along.
How to use Wise:
Step 1: Register
Register your details through the Wise website. This will include the type of account you need, your details, and the currencies you’ll transfer. Once you provide some ID, Wise will let you know when your account is ready.
Step 2: Transfer
After you have a quote for your transfer, you will go ahead and fill in the details of the person you’re sending the money. If you’re sending it to your international account, fill in your details.
Step 3: Pay
Wise only accepts payment by POLi pay, bank transfer, and debit card. They will also accept credit cards for smaller transfers but will charge a higher fee.
Pros of using Wise:
- Clear and simple online registration process
- Extremely competitive rates
- Various payment methods available, including credit card
- No minimum transfer size
- Additional products like their Borderless Account and Debit Card are very unique in foreign exchange
- They can support both business and individual customers
Cons of using Wise:
- Cannot pay via cash or cheque
- Limited customer support
- Watch out for the percentage fee if you’re making a large transfer