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Top 3 Money Transfer Providers for Australia to UK

Provider Amount Received Fee Exchange Rate Speed
TorFX TorFX GBP £5,160.39 No Fee 0.516 1-3 days more...
OFX (prev. OzForex) OFX (prev. OzForex) GBP £5,147.40 No Fee 0.5147 1-3 days more...
Currency Solutions Currency Solutions GBP £5,147.40 No Fee 0.5147 1-3 days more...
Daniel Webber

FX Expertise and Experience

Daniel Webber

Founder & CEO, FXCompared

Daniel is one of the world experts on the money transfer sector. He is widely quoted across the industry with over 20 years of experience in the international finance world focused on international payments, technology, and the property sectors. More about Daniel.

Send money from Australia to UK

How to Transfer Money from Australia to UK

Australia to UK Guide

Summary

Traditionally the UK has been a very popular country for Australians to emigrate to, with notable cities including London, Manchester and Edinburgh. With a milder climate but similar culture, many Australians find the UK a great fit. As more than 120,000 Australians are currently living in the UK, clearly many would agree.

Want to transfer money from Australia to UK for deposits before you move or send money to a family member abroad? Save on fees with a money transfer provider.

Visas and immigration

Some of the most common reasons that Australians move to the UK tend to be employment, to reconnect with their family or with their spouse, or to study at university. But it’s important to know that there are a number of different categories of visas required for moving to the UK, and eligibility will depend on your profession, who you are moving over with, or if you are studying.

Most work visas are Skilled Worker visas, whereby qualifying professionals take up a new job offer, although people being transferred by their company may be eligible for an Intra-company visa. Medical professionals, meanwhile, can apply for a Health and Care Worker visa.

Australians who are moving to the UK to live with family have the opportunity to apply for a UK ancestry visa. This allows Australians who have a parent who was born in the UK the opportunity to move to the country as long as they satisfy a certain number of criteria.

Top 8 Money Transfer Providers

Latest prices for transferring money from Australia to UK
Exchange Rates as of 13 June 2024, 20:16

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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FXcompared Rating
Amount Received
GBP £5,160.39
AUD $458.64
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OFX (prev. OzForex)

Est. 1998
Celebrated international money transfer service connecting our customers when it matters most. Best-in-class global payments provider for people and businesses for over 17 years.
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Amount Received
GBP £5,147.40
AUD $433.64
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
GBP £5,147.40
AUD $433.64
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
GBP £5,160.39
AUD $458.64
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
GBP £5,147.40
AUD $433.64
saved vs. banks

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Top 8 Money Transfer Providers continued...

Average Australia Bank

Est. 1800

Average of the top 9 Australian Banks costs as compiled by our own FXC Intelligence group. For more details on how the bank price comparisons for Australia and New Zealand Banking Group, Bank of Western Australia, Bendigo Bank, Commonwealth Bank of Australia, National Australia Bank, St. George Bank, Suncorp Bank, Westpac Banking Corporationare calculated, see our IMTI page.

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Amount Received
GBP £4,937.34
AUD $29.64
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Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
GBP £5,076.68
AUD $297.64
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Corpay^

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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FXcompared Rating
Amount Received
GBP £5,152.59
AUD $443.64
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Studying in the UK

While the UK is popular with Australians as a place to work, relatively few come to study. That said, there were 1,935 students from Australia in the UK in the 2020/21 academic year, according to the UK government.

According to the British Council, the annual cost per year of study in the UK for international students starts at around £22,200 (approximately A$41,300) – fees start from £11,400, and the cost of living is £12,200. Fees for foreign students are higher than those for UK nationals, reaching as high as £58,000 per year for a medical degree, for example.

Due to these high costs, it’s perhaps not surprising that the number of Australian students coming to the UK has actually fallen over the last decade, and in fact Australia is close to overtaking the UK as the second most popular overseas destination in terms of studying.

Most importantly, Australian students will need to obtain a Student visa. Once your place at an accredited institution is confirmed, the process of applying is simple, but you have to be able to demonstrate that you have sufficient savings to fund your course and cost of living.

It is, however, usually possible to work part-time for up to 20 hours a week during term time, full-time in a non-permanent role during term breaks, and pursue a sandwich course. Once your course ends, you can work full-time hours for up to four months. You can also bring dependents on a student visa, but you must be able to show that you have sufficient savings to cover them too.

Banking and money

To open a bank account in the UK, you will need proof of your income and employment, evidence of a local UK address, and a passport, which is pretty standard and doesn’t come with a lot of restrictions.

There are plenty of commercial high street banks in the UK, but none of the major Australian banks have a substantial UK network. It will be easiest to have a UK account set up before sending money from Australia to the UK either for general living expenses or for a major transfer, as payments in the UK can then be made out of that account.

The one drawback to using a bank to send money from Australia to UK is the added fees and potentially poor exchange rates, so finding a money transfer provider can be a smart option for frequent international payments.

Taxation

The UK tax year runs from 6 April to 5 April of the following year, whereas the Australian tax year runs from 1 July to 30 June. This will have implications for tax planning, so be sure to consult an expert and get organised on this one.

You may be pleased to hear that Australia does have a double tax treaty with the UK, but you should still check which items may not fall under the treaty and may be taxed twice. The best thing to do is to familiarise yourself with relevant UK financial regulations in advance of moving from Australia to the UK, particularly if you are considering purchasing a property or making a large currency transfer from Australian dollars into pounds.


To send money from Australia to UK without being subjected to bank fees, browse our recommended money transfer providers for a great deal.

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Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from Australia to UK. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.
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How we make money

FXcompared is an independent, advertising-supported comparison service where we have commercial relationships with some of the providers listed. When you use us to sign up to a money transfer provider we have a commercial relationship with, we get either a flat fee or a commission from the provider you choose but this does not cost you anything extra and our site is free to use. The ability for companies to sign-up and retain customers may impact how and where these providers appear on this site, including, for example, the order in which they may appear within listing categories but you may reorder the listings. Other factors, such as our own proprietary website rules and the likelihood of a customer being on-boarded to a provider impact how and where products appear on this site. FXcompared does not include the entire universe of available international money transfer companies.

Exchange rates update frequently and the pricing shown in the comparison tables is indicative only and based on a first time transfer for a new customer signing up via FXcompared. The pricing does not reflect any special rates individual customers may be offered by a provider, either on sign up or rates for any repeat transfers and there may be other lower priced providers not listed on FXcompared. FXcompared is not an FX trading platform and should not be used to inform any FX trading decisions.

All reviews are prepared by FXcompared. Opinions expressed therein are solely those of the reviewer. The information presented in the review is accurate as of the date of the review. Check with the providers directly for the most current information.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.