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Money Transfers for Expats in Australia

Submitted: August 2013

There are no legal restrictions on capital flows into and out of Australia.

Fees

You can generally transfer money free of charge and without restriction to another Australian account.
Your bank may charge you for international transfers, although fees may vary. You might wish to check the applicable charges and restrictions at your Australian bank.

Alternatively, you can use the services of a money transfer company. To save money, you can also use a price comparison website specialised in money transfers.

Typically, your charges are largely passed on to the applicable foreign exchange rate. See Foreign Exchange for Expats in Australia.

Cash Control Rules

You must make a declaration to the Customs Authority if you transfer at least A$10,000 (or currency equivalent) worth of cash to or from Australia. Additionally, you must disclose any cash, regardless of the amount, if you are requested to do so by a Customs and Border Protection officer or by a police officer.

Cash transfers include banknotes and coins, banker’s drafts, bearer instruments, e-money and negotiable cheques. International bank transfers are not within the scope of cash control rules.

 

 

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