Which bank is best for international transactions in Australia?

Okay, so you’re wondering which bank in Australia is the absolute best for international transactions, huh? It’s a question I’ve definitely wrestled with myself!

Well, if we’re talking about the big, traditional banks, from what I’ve seen, Macquarie Bank, specifically using them via OFX, often seems to have the best deal. I mean, they tend to offer a pretty good combo of features and, well, not totally outrageous fees compared to the other giants. But, and this is a BIG but…

Honestly? Banks, in general, aren’t really known for being super generous with international transfers, are they? Remember that time I sent money to my cousin in Canada? The fees ate up a HUGE chunk! It was ridiculous!

That’s why I think it’s worth looking beyond just the banks. There are heaps of specialist money transfer services out there these days, and honestly, they often blow the banks out of the water when it comes to cheaper fees and, crucially, better exchange rates. You really do get more bang for your buck. Why pay more than you need to, right?

I haven’t used all of them, so I can’t say which one is definitively the best – it probably depends on where you’re sending the money and how much. But definitely do a little digging beyond the banks – you might be surprised by what you find! Because at the end of the day, we all just want the easiest and cheapest way to send money to our loved ones, don’t we? And who wants to waste money on bank fees? Not me!