Cheapest Way to Send Money from UK to an Australian Bank : Revolut
Sending £100 from the UK to my family in Australia always cost a fortune in charges And before anyone says it... nope they aren't into crypto.
First we tried moneygram
charges were £13
conversion rate was $1.69 / £1
They would receive $144.42
The £13 charge would be everytime
Next try was the Post Office travel money card. This one you load the card with £100 woth of Aussie dollars at a conversion rate of $1.66 / £1
You also need to get the card to Australia and there is a $3 charge to withdraw
They would recieve $163 minus a one off postage of the card to Australia
How about bank to bank?
£100 ($167) minus the bank charge of £9.50 = $151
This is the method i now use. The standard Revolut VISA Card and App
You load the card with £100 (no charge)
In the App you convert the £100 to Australian Dollar @ $1.81 / £1
Then in the app you go to payments and bank transfer
Enter the Australia Bank details BIC or Swift number, BSB and AC number and hit send
They receive $181 in their account.
I know a lot of people don't like the revolut card because you can't withdraw cryptos you buy on it but it does work well for comverting currency and sending it
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