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Being an immigrant settled in Australia, you might need to send money overseas for various reasons. These international money transfers can be conducted through a normal retail bank account, FX brokers, online money transfer in Australia etc. Just as there are many options of money transfer, there are divergent reasons to use an international money transfer service.
Here let us list 10 of the most common reasons why people transfer their money abroad: Buying overseas property Purchasing a holiday home abroad Paying for overseas tuition fees for family members Overseas investments To offer financial assistance to friends or family Paying for vacations overseas Paying for a destination wedding abroad Overseas mortgage payments Business investments and paying wages for staff Paying bills overseas ● ● ● ● ● ● ● ● ● ●
Even though bank transfers are the most trusted one for a long period of time, money transactions overseas through banks can cause you a large amount of money as transaction fees. And again banks generally don’t lookout for the best exchange rates in the market.
But the best online money transfer in Australia helps the customers in multiple ways to reduce these fees, achieve superior exchange rates and also provides amazing offers and discounts on special occasions. Upon comparing the cost of money transfers from banks and money transfer operators one can see how much money can be saved on each transaction.
