Bringing your savings to Australia? Here's how to do it.
A few simple steps, and how to avoid losing money on the exchange rate.
- Step-by-step guide
- Avoid hidden exchange-rate costs
- Check AUSTRAC registration
Total cost = fee + margin. Compare both, not just the fee.
Illustrative only.How it works
Check the real rate
Compare it with the mid-market rate.Compare the rate you're offered with the mid-market rate.
Add the fee
Fee plus margin is the real cost.Fee plus margin is what the transfer really costs you.
Check the provider
It should be on AUSTRAC's register.Make sure it's on AUSTRAC's public register before you send.
Registered providers
Registration checked on the AUSTRAC register · AlphabeticalSome links on this page are affiliate links: if you sign up through them, SponsorMap may receive a commission at no extra cost to you. This does not change the order or the information shown.
- Specialist providerWiseAUSTRAC registration checked 9 Oct 2026
More providers are added once their registration is checked. SponsorMap does not transfer money and does not recommend a provider. No rates or fees are shown because they change daily; always compare the amount received on the day you send.
The details
Two costs, not one
The transfer fee.
The visible charge. It can be a flat amount, a percentage of what you send, or both.
The exchange rate margin.
The gap between the mid-market rate and the rate you are actually given. It is built into the rate, so it never appears as a separate line — and a transfer advertised as fee-free can still carry one.
A worked example
You convert $10,000 with no transfer fee, at a rate 2.5% worse than the mid-market rate. The margin costs you $250 — more than most visible fees, and invisible unless you compare the rate.
How to compare a quote
Compare what arrives, not the fee.
The amount the recipient receives is the only number that includes both costs.
Check the mid-market rate first.
Use it as a benchmark for any rate you are quoted.
Ask whether the rate is guaranteed.
Some rates are locked when you confirm; others can move before the transfer settles.
Check fees on both ends.
Ask whether the receiving bank or the recipient pays anything.
Check how you pay.
Paying by card instead of bank transfer can cost more.
Regulator and register details
Regulator: AUSTRAC · Public register: Remittance Sector Register · Guidance: Moneysmart (ASIC) · Last verified: 2026-10-09
Money transfer businesses in Australia must be registered
Remittance service providers operating in Australia must be registered with AUSTRAC, and you can search the public Remittance Sector Register by business or trading name. Banks and credit unions do not need to appear on it. A registered provider will ask to see your identification before transferring money. If you are sending from another country, the provider is regulated where you send from — check that country's regulator.
Search the Remittance Sector RegisterSources and about this page
Sources
About this page
SponsorMap is an independent directory built from official Department of Home Affairs data released under Freedom of Information request FA 25/01/01229. General information only — not financial advice. We do not transfer money or arrange financial products.
General information only, not financial advice. SponsorMap is an independent directory and is not affiliated with any provider or government body. Always check a provider's current registration yourself.