How to send money to United Kingdom from Australia

By   |   Verified by Debbie Duncan   |   Updated 21st August 2022

Transfer Money from Australia to UK [AUD to GBP]
  • Do you need to transfer funds to the UK from Australia? Compare money transfer services to get your AUD to GBP quote.
  • Banks are the most obvious choice to move funds overseas, but money transfer companies can offer better rates, faster delivery speeds and smoother service.
  • You should know about certain laws and taxes, especially when moving large amounts of money to the UK.

With an average of 23% of international money transfers sent to the United Kingdom, the UK is one of the most popular money transfer destinations from Australia. This doesn't come as a surprise, considering that the largest community of Aussie expats lives in the UK, whereas Australia is home to the largest community of British expats.

Sending money back home to family and making personal investments are two of the main reasons people send money to UK from Australia.

This guide will show you which money transfer companies offer the lowest fees and best exchange rates so that you can make your own choice.

Best ways to send money to the UK

Need to transfer money to the UK from Australia?

Best ways to send money to the UK

Wise

On website

Highlights

  • Wise Borderless multi-currency receiving accounts. This gives you access to a digital currency wallet that you can hold and transact in over 50 currencies.
  • Borderless Debit Card. The FX optimised debit card is attached to your Wise Borderless account that can be used to withdraw or pay for purchases in foreign currency within or outside Australia.
  • Android and Apple Apps. Indulge convenience by transacting thru the Wise App anytime and anywhere!
  • Fund options. Loads of options to fund your Wise account including transfer from Debit and credit cards, or thru a local bank transfer. Quick and easy!

Pros

  • Low and competitive fees.
  • Easy to understand fee structure.
  • Easy to use website and mobile apps.
  • High transfer limit.

Cons

  • Limited currencies and destination countries compared with some competitors.
  • Can only send funds to the recipient's bank account.
Airwallex

On website

Airwallex

Highlights

  • $0 fees and 0% margin on your first $20,000 AUD transfer.
  • Spend less on FX fees and more on growth.
  • Make payments in 31 currencies, into over 130 countries, and counting.
  • You always get access to Airwallex's best rates, regardless of transaction volume.

Pros

  • Create an account in just a few minutes.
  • No international transfer transaction fee.
  • Favourable currency exchange rates.
  • Quick transfers.

Cons

  • Limited transfer methods.
  • Fewer transfer currencies are available than some competing services.
Send

On website

Send

Highlights

  • Make and receive fee-free, real-time payments in 37 different currencies.
  • Feel like a VIP with your own dedicated account manager.
  • Moving house? Get the best rates on your property sale or purchase and you could save thousands compared to using a bank. 

Pros

  • No transfer transaction fee and no account-keeping fees.
  • Competitive foreign exchange margin compared to banks.
  • Wide range of currencies and destination countries.
  • Suitable for businesses as well as individuals.

Cons

  • Bank account is the only delivery method.
  • Minimum transfer amount of $250.
  • Limited funding methods.

Common reasons people transfer money to the UK

Personal money transfers make up a large proportion of international money transfers to the UK from Australia [AUD to GBP]. The main reason is transferring funds back home to family, but people also move money to fund their travels, pay for education overseas, get married overseas, or buy property overseas.

Emigrating to the UK is another common reason Aussies and returning Britons transfer money to the UK.

Business transactions cover a wide range of scenarios, from paying overseas employees to paying suppliers and contractors, running a business, buying commercial properties or investing in real estate, and making charitable donations.

Business vs personal considerations

Australia and the UK have no legal limits on the amount of money you can transfer in and out of either country. However, you may find that your bank has its own daily limits.

Most Australian banks have a daily limit between $5000 and $10,000 on personal accounts. Some banks allow customers to increase the limit either through their online banking account or at a branch, but the limit rarely exceeds $50,000.

Business bank accounts generally have a daily limit of about $100,000, but there are exceptions. Westpac, for instance, has a default business daily payment limit of $10 million that can be increased up to $100 million, if required.

No matter how much money you send to the UK, there are generally no tax implications if the money is part of your existing savings or assets. However, tax may be due if the transfer can be regarded as income and the receiver is resident in the UK.

According to English law, income is represented by:

  • Overseas salary
  • Overseas pension
  • Rental income
  • Gains from selling an asset (including property overseas)
  • Interest on savings
  • Profit from running a business overseas

How much money can you send to the UK from Australia?

Apart from the limit set by your bank, there are no limits on how much money you can send to the UK from Australia. It could be as low as $50 or house-sized amounts into the millions.

Bodies like the Financial Conduct Authority (FCA) and HM Revenue and Customs (HMRC) monitor all international money transfers to check for illegal activity.

For this reason, you should only send money through authorised money transfer services or registered banks.

How much does it cost to send money to the UK through a bank?

Bank transfers can cost you anywhere between $10 and $35, although some banks have lower fees if you transfer the money through internet banking.

Banks in the UK might also charge a fee for international payments in foreign currency, so you should send the money in Pounds Sterling (GBP) rather than AUD.

What to compare to get the best deal

Whether you're sending funds to family or completing a business transaction, there are a few things to consider before choosing a service:

  • Fees
  • Exchange rate margins
  • Payment options
  • Transfer speed
  • Delivery methods