Friday, May 19, 2017

International money transfer from Australia to South Africa


I recently needed to send a bunch of money from my NAB bank account in Australia to my ABSA account in South Africa.

NAB has a nice international transfer section on its mobile app. "NICE" - I thought.

being diligent and all - I compared the money they were offering compared to CurrencyFair and found that NAB were ripping me OFF big time.

Over 7000 Rand difference between NAB and currency fair. NAB were charging almost 5% of the transaction!!!!

A big thumbs up for CurrencyFair - I signed up in about 20 minutes and once verified the transaction took less than 24hours. I think the they are backed by Macquarie bank.

You can find the CurrencyFair website here (click)


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