How do I send money to a community in America?

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Looking for the best way to send money from Australia to family, friends or businesses in the United States (or even to your own overseas bank account)?

Don't head straight to your Australian bank – compare specialist money transfer services instead. They nearly always offer better USD exchange rates and lower fees, so for the same amount of Australian dollars you send, your recipient will receive more US dollars.

Of the companies we've compared, TorFX is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Xe Money Transfers can get money to your recipient in the United States within minutes.

Best ways to send money to the US from Australia

The best way to send money to the United States depends on your payment method, how you want your money to be received and how fast you need it to arrive.

• Bank transfer. Typically the cheapest option, bank transfers are an easy way to send money to the United States but are often slower than other methods.
• Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in the United States.
• Peer-to-peer (P2P) transfer. With this type of transfer, the transfer service matches people buying Australian Dollars in one country with people who are selling it in another, potentially securing a more competitive exchange rate.
• Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
• Prepaid phone credit. Specifically used to top up a recipient's prepaid mobile phone plan, prepaid phone credit is usually added instantly or within a few minutes.
• Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.

Compare the best money transfer companies to send money to the US

Use our table to compare the best money transfer companies to send money to the United States. You can compare deposit and receiving options, fees and transfer speeds, then click the "Go to site" button when you've found the best one to get your money to the United States.

Cheapest way to send money to the US

Bank transfers are typically the cheapest way to get your money to the United States. TorFX and OFX have some of the lowest bank transfer fees of the brands we've compared.

When you're hunting down the cheapest ways to send money to the United States, it's more important to look at the overall cost of your transfer. This has a couple of elements:

• Transfer fees. While still cheaper than your Australian bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
• Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market AUD/USD exchange rate.

Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many US dollars your recipient will end up with.

Fastest way to send money to the US

Many online providers can offer transfers to the United States within minutes, although you're likely to pay a premium for the convenience.

Here are some of the fastest average transfer speeds to the United States:

• Xe Money Transfers — within minutes
• Instarem — within minutes
• SingX — within minutes

Actual transfer times from Australia to the United States can depend on several different factors including transfer amount, payment method and payout method.

Safest way to send money to the US

The safest way to get your money to the United States is to use a provider registered with Australia's industry regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Australia and the United States.

A great way to dive deeper is by reading our extended and researching first-hand customer feedback on Trustpilot and similar platforms.

How to send money to the US from Australia

To send money to the United States, you'll need the necessary documentation, your recipient's details and a way to pay.

1. Compare your options.

   Use our table to find a money transfer provider that sends funds to the United States. One may be better for cash pickups while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site".

2. Create an account.

   You'll need to give your name, address, contact details, proof of ID and method of payment.

3. Provide your recipient's details.

   Enter your recipient's name and contact information. If you're sending straight to their American bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address.

4. Enter your transfer amount.

   Check you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total US dollars your recipient gets.

5. Complete your transfer.

   Send your money transfer to the United States. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.

How to choose the best money transfer companies to send money to the US

When choosing a money transfer provider to send money from Australia to the United States, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:

• Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the USD you're offered to the mid-market rate and look for the smallest difference.
• Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to the United States for a flat or low fee might work out better if you plan to send a large amount.
• Transfer type. Does your recipient have a American bank account or is cash or cell phone top-up a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.
• Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as Xe Money Transfers and Instarem offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value and get your money to the United States faster and cheaper than banks.
• Transfer purpose. Whether your transfer is for personal or business reasons influences which provider you want to use. If it is a one-off personal transfer, then fast and cheap may be the way to go. But if you make recurring transfers or send large amounts, a business transfer specialist like may be more economical.
• Forex tools. Are you able to set rate targets, lock in a good USD rate for the future or create a stop-loss order? Advanced forex tools can help make your transfer cheaper, which is useful if you make multiple transfers a year.
• Transfer limits. Find out how much you can send with each service. For example, Ria Money Transfers has a transfer limit of $5,000 while CurrencyFair allows transfers up to $10,000,000.
• Customer support. If you're sending larger amounts or looking for some guidance, it's important to choose a provider you can contact by phone if, like TorFX.
• Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of US dollars.

Is this a good time to send money to the US?

Compared to a month ago, the Australian dollar is a little weaker against the US dollar. Currently $5,000 is equivalent to $3,364.50, whereas a month ago, $5,000 was equivalent to $3,374.50. That's a decrease of 0.3% over the past month.

Similarly, compared to a year ago, the Australian dollar is again weaker against the US dollar. A year ago, $5,000 was equivalent to $3,585.00. That's a decrease of 6.15% over 12 months.

What's more important, however, is where the strength of the Australian dollar against the US dollar goes from here – which is harder to call. Based on those two quick glances back, your Australian dollars might not go as far as they would have, so shopping around for the best deal on your transfer is key.

Frequently asked questions

What is the best way to send money to someone in the United States?

How can I send money to USA legally?

What is the cheapest way to send money in the USA?

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