Shopping for gifts can be tricky at the best of times. But around big gifting occasions, it can become a real stress, with busy shops and long delivery times for online orders. And if you throw in the challenge of sending gifts to loved ones who live abroad, suddenly it becomes a massive effort.
That’s why transferring money is such an appealing alternative. Here are some of the reasons a money transfer makes sense for treating loved one overseas.
1. The money can be transferred efficiently
An electronic transfer directly to a loved one’s account is usually the most efficient way of sending money overseas, and much faster than sending a package via post. Sending funds in the recipient’s currency, ensures that they receive their funds in as little as 2-3 business days1.
So, if you’re a last-minute shopper, or just forgot to get a gift (we’ve all been there), putting through a quick money transfer can be a life-saver.
2. It’s a reliable and secure way to send money
Sending cash in the post can be risky and should be avoided if possible. But even if you’re not sending cash, parcels being sent overseas can be subject to things like weather delays, damage in transit or simply getting lost on the way.
Sending money through an electronic transfer is a more reliable option and offers great peace of mind to the sender. You’re in control of where the money is sent, and we can help you track your transfer if you have any concerns.
As well as this, to make things transparent for the sender, you’re able to transfer money from Australia in the recipient’s currency, which means you know how much your loved ones will receive2. You pay in Australian Dollars and your recipient receives funds in their local currency.
3. Sending money overseas is simple
You submit a quick form including the name and address of the person receiving the funds, as well as details for the bank account you want to pay.
Then let us take care of the rest (no gift wrapping required).
4. Transferring money overseas through us can save you money
As well as getting a competitive foreign exchange rate3 you’ll also benefit from being able to ‘lock in’ the rate at the start of each individual transfer. It means there won’t be any nasty surprises if the exchange rate changes after you’ve started the transfer. Because exchange rates do change regularly, the rate you’re able to lock in at the start will probably be different each time you make a transfer.
5. You have a wide range of currencies to choose from
Electronic money transfers can be carried out in the vast majority of international currencies – you can view a full list and details here.
So, whether the special treat you want to send to friends or family is in Great British Pounds, Chinese Yuan, or Costa Rican Colon (yes, that’s a currency), you should be sorted.
Ready to make a transfer to a loved one overseas? We can help.Get started
CUA has entered into an agreement with Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 404092) (“WUBS”), to engage WUBS’s services in fulfilling these financial products. WUBS is an operating division of the Western Union Company. Any financial products described in this document are provided by CUA. The relationship relating to these financial products is solely between you and CUA. WUBS does not give you any advice, general, personal or otherwise. Any advice provided, is provided by CUA or your adviser.
- Payment are usually received by the beneficiary within 2 to 3 business days after receipt of funds by WUBS in accordance with payment instructions. There is no delivery period guarantee. Some currencies may take longer than others to process.
- Intermediary banks sometimes levy a fee or charge. Any such fees or charges are beyond the control of CUA or WUBS.
- WUBS conducts periodic rates comparisons, the most recent was derived from the websites of 4 major Australian financial institutions on 04 October 2017