MBA Australia

Transferring money


 

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It's usual, immigrants send some of their earnings to relatives and friends in their home countries. Many australian companies offer their service to transfer money overseas in several ways.

Transfer money within Australia

In Australia generally, the wages are deposited directly in your bank account. Which is an advantage, because, when you go to shop at supermarket, the supermarket bill is payed with credit card or through EFTPOS card emitted by bank. The EFTPOS card works on similar way to debit card, the funds are transferred almost instantly from your bank account to seller, only dialing a number with 6 digits in the box machine. It's not necessary to sign any paper and only you receive a receipt to confirm the transaction and for personal control of your account.

EFTPOS (Electronic Funds Transfer at Point of Sale) is very popular in Australia and has been operating there since the 1980s. EFTPOS-enabled cards are admitted at almost all swipe terminals able to accept credit cards, regardless of the bank that issued the card, including Maestro cards issued by foreign banks, with most businesses accepting them, with 450,000 Point Of Sale terminals.

International money transfers

In Australia, there are three common ways of making an international money transfer. Which are: A money transfer service provider
One example is Western Union is the Money Transfer Service Providers, through this, each transfer is protected by Western Union's worldwide security system and the money is available at the destination minutes after it has been sent. This method of money transfer allows us send and receive money in easy and secure way.

Postal offices
This method provides a simple paper-based funds transfer which is an alternative to cheque and card-based payment.

One example is Australia Post with Money Order service. Australia Post Money Orders are a trusted, affordable and secure alternative to personal or bank cheques for making payments within Australia.

and banks
This money transfer way is considered the cheapest and most secure method to get your money from overseas is through a bank transfer. If choose this alternative, first. you need a bank account in Australia.

You will be able to arrange an international money Transfer (IMT), after you have opened your bank account in Australia .


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Money & Finance in Australia
MBA Australia