Welcome to our guide on international money transfers for ING Australia customers. If you’re sending money abroad, it’s key to know your options. ING Australia used to work with OFX for this, but stopped in 2019. Now, you need to find other ways to send money overseas.
This guide will cover different ways to send money abroad. We’ll look at their features, fees, and how fast they work. Knowing these options helps you choose the best one for your needs. You’ll find everything from bank services to online platforms for secure and quick payments.
For more details on international money transfers from ING Australia, check out official guides. They explain the latest changes.
Understanding ING Australia and International Transfers
ING Australia has made big changes in how it handles international transfers. Before, it worked with OFX to offer these services at good rates. But in 2019, this partnership ended, and ING customers could no longer send money abroad directly.
Now, ING suggests using other money transfer services for international payments. This change might affect some customers who used to rely on ING for sending money overseas.
Even with this change, ING offers many banking services. These include personal loans, credit cards, and insurance. For those looking for ways to send money abroad, exploring other options is key.
ING Group, ING Australia’s parent, has over 38 million customers worldwide. This shows the bank’s strength in the financial market, even if its money transfer services have evolved.
For sending money abroad, many third-party services are available. Here’s a quick comparison of a few:
| Service | Max Transfer Amount | Currencies Supported | Fees | Transfer Speed |
|---|---|---|---|---|
| Wise | No Limit | 50+ | Starting from 0.43% of the amount | 50% instant payments |
| OFX | No Limit | 50+ | 15 AUD for payments under 10,000 AUD | 90%+ within 24 hours |
| Western Union | $1,000 | 10 | Starting from $0 for bank transfers | Within minutes |
| MoneyGram | No Limit | Varies | Varies | Fast cash pick-up available |
| PayPal | No Limit | Varies | 5% transfer fee + 2.6% when paying by card | Deposited instantly to PayPal accounts |
In summary, ING Australia has changed how it handles international transfers. Now, it points customers to other services. This change means some customers need to find new ways to send money abroad.
Guide to International Money Transfers ING Australia
International money transfers with ING need a clear plan. ING doesn’t handle these transactions anymore. But, you can start by using services like Wise or WorldRemit. First, transfer money from your ING account to the service provider.
When using ING for transfers, know your banking options. You can use debit cards, BPAY, or EFTPOS. But, for international payments, you need an external provider. This way, you get better rates and service.
To send money internationally, use the ING app or online banking. Send the funds to your chosen service provider. They’ll convert the money and complete the transaction. You can choose how to receive the money, like in a bank account or through mobile wallets.
When you send money internationally with ING, know the costs. There’s a 3% fee on the transfer value. Also, third-party services might charge extra fees, like $5.00 per ATM withdrawal.
Thinking about the best options? Check out the best international money transfers. Learn about different providers, their fees, and exchange rates. Knowing these details can help you save money on your transfers.
Alternative Money Transfer Options
Australians have many trustworthy services for sending money abroad. Wise is known for its good exchange rates and low fees. OFX offers 24/7 customer service, and WorldRemit is great for cash pickups. It’s important to pick the right service for your needs.
Wise is a top pick for sending up to $10,000. It gives real exchange rates without extra fees. For example, sending £2000 to USD with Wise means the recipient gets 2,714.73 USD after a fee of just £7.32. This makes Wise a great choice.
OFX is best for big transfers because it offers personalized service. It’s perfect for those who need help with their transfers. WorldRemit is good for people without bank accounts, making it flexible for many.
PayPal is also a big name for global payments. It lets you send money instantly to PayPal accounts. But, be careful of the higher fees for currency conversions. For more options, check out Monito and others.
| Service | Key Features | Transfer Fee | Transfer Time |
|---|---|---|---|
| Wise | Mid-market rates, low fees | £7.32 | 1-2 business days |
| OFX | 24/7 support, personal service | Varies | 1-4 business days |
| WorldRemit | Cash pickup options | Varies | Minutes to hours |
| PayPal | Instant deposits | Higher fees apply | Instant |
InstaReM and CurrencyFair are good for sending money to Asia. They offer competitive rates and fee-free transfers for first-timers. Australians have many options for sending money abroad efficiently.
Making International Payments with ING
For those looking to send money across borders, ING makes it easy. You just need to pick a trusted service, sign up, and enter the recipient’s info. This way, sending money abroad is simple and quick.
After signing up, you can use local payment options like bank transfers or PayID. This lets you send money as you see fit. Remember, the cost and speed of international payments can change. For more details, check out this guide.
It’s also key to know about fees for different places and how you send money. Sometimes, delays happen due to security checks or wrong bank info. Knowing about currency exchange and the recipient’s country rules can make sending money smoother.
