Sending money overseas from Australia
The cost of an international transfer is more than the headline fee. It is the fee plus the gap between the exchange rate you are given and the mid-market rate, so compare the amount your recipient actually receives.
This page is general information on what to compare, and sets out what Instarem says about its service for people sending from Australia. Instarem is a paid partner of Better Rate Mate, and this page is not a comparison of every provider in the market.
By Better Rate Mate Editorial Team ยท Last reviewed
What to compare before you send
- 1Compare what your recipient receivesEnter the same send amount, destination and payment method with each provider, then compare the amount that arrives in the recipient's currency. This includes the fee and the exchange rate together.
- 2Check the exchange rate against the mid-market rateA low fee can be offset by a weaker exchange rate. Look up the mid-market rate on the day and see how far each provider's rate is from it.
- 3Check the speed and the payment methodTransfer times and fees can change with how you pay and where the money is going. Check the estimate for your own transfer before you confirm it.
- 4Check limits and identity requirementsProviders set limits by destination and payment method, and they usually ask you to verify your identity and give a reason for the transfer before sending.
Instarem
Instarem is an international money transfer service. The table sets out what Instarem says about sending money from Australia. Better Rate Mate may earn a commission if you sign up or send money through the link on this page.
| Feature | What Instarem says |
|---|---|
| Destinations | Instarem says it supports transfers from Australia to 60+ countries, in the recipient's local currency. It lists the destinations on its own site. |
| Fees and exchange rates | Instarem says these vary by sending amount, currency, payment method and receiving country, and that fees and rates are shown before you pay. |
| Speed | Instarem estimates that most transfers are instant or same day, and that some can take up to 1 to 2 business days, depending on the payment method, destination and the receiving bank. These are estimates, not guarantees. |
| Recipient | Instarem says your recipient does not need an Instarem account, and that the money goes to their bank account. |
| How you send | Instarem says you can send online or through its app, where you can also track a transfer. |
| Rewards | Instarem says you earn InstaPoints on transfers, which can be redeemed for discounts on future transfers. |
| Verification | Instarem says you need to verify your identity and give the reason for the transfer, and that it may ask for supporting documents for some reasons, such as education fees. |
| Limits | Instarem says the maximum amount depends on the destination and the payment method. Check Instarem's transfer limits. |
| Business | Instarem says it also offers cross-border payments for businesses. |
This placement is paid for by the provider. It is shown separately from our other results.
Sponsored. We may earn a commission. How we're paid
General information only. It doesn't take into account your objectives, financial situation or needs. Check the provider's fees, exchange rate, terms and product information before you send money. We don't compare every provider, and we may earn a commission if you sign up or send money through our links.
International money transfer FAQs
What does it cost to send money overseas?
It depends on the provider, the amount, the destination currency and how you pay. The total cost is the transfer fee plus any difference between the provider's exchange rate and the mid-market rate. Compare the amount your recipient receives rather than the fee alone.
Is Instarem the best way to send money overseas?
We have not compared every provider. This page features one provider that pays us a commission, and the right choice depends on the amount, destination, payment method and your own circumstances. Compare the amount received across providers before you send. This is general information only.
Does the recipient need an Instarem account?
No. Instarem says your recipient does not need an account to receive money, as it sends the funds to their bank account in the local currency.
What do I need to send money with Instarem?
Instarem says you need your personal details and identity documents, your recipient's name and bank account details, and the reason for the transfer. For some reasons it may ask for supporting documents.
Does Better Rate Mate earn money from this page?
Yes. We may earn a commission if you sign up or send money with Instarem through our links. Our advertising disclosure page explains how we're paid.
General information only. It doesn't take into account your objectives, financial situation or needs. Check the provider's fees, exchange rate, terms and product information before you send money. We don't compare every provider, and we may earn a commission if you sign up or send money through our links.