Transfer Money from Australia to China- Bank vs. Third Party Wire Transfer

You can initiate an international wire transfer from a bank or an online remittance agency. Details such as currency of transfer, IBAN (international bank account number), SWIFT Code and name of correspondent bank needs to be given to the bank before making a wire transfer. In this case, funds transfer takes place between two banks and money gets credited directly to the recipient’s account. Wire transfer can also be done through online banking.
Besides banks, wire transfers can also be carried out through third party remittance agencies. There are several reputed online money transfer agencies through which you can transfer money from Australia to China or any other country safely and quickly. Compared to banks, these agencies offer competitive currency exchange rates and low transfer fees. If you choose a reputed agency, you can be assured of 24/7 customer support in case of any delay in money reaching the recipient or other glitches.
You can register with such agencies for free and log in anytime of the day to make a transfer. Since there is no need to go to the bank, you can enjoy the comfort of sending money from one country to another from the comfort of your home or office. In case of third party wire transfer, the sender or receiver don’t use wire transfer service directly. It is used by the payment service provider to send and receive funds.
Always choose a reliable money transfer agency
If some agency claims to help you send money to Philippines free or to China for free, don’t fall into their trap. Reputed agencies can surely lower their transfer fee and offer competitive exchange rates to maximize what you send to the recipient but international money transfer can never happen for free. 

3 Tips to Send Money Online to Philippines

If you have been planning to make an international money transfer, choosing an online agency can have several benefits. Here are few tips that you can keep in mind when initiating a transfer:
1.    First tip is to choose a reliable online money transfer agency. There are several agencies in the market and not all can be trusted. You need to ensure that the one you choose is licensed to carry out international remittance activity. The agency should also offer quality customer support 24/7 so that you can get in touch with them anytime of the day in case there are delays or issues in your money reaching the recipient.

2.    Second tip is to ensure that your money and confidential banking information is safe. Never use a public computer for making a money transfer. Even if you are using your personal laptop or tablet to send money online to Philippines, make sure it has the latest anti-virus software installed on it. This will ensure that there are no virus attacks and your money remains safe. Avoid using free, unsecure internet connectivity in public places such as airport or restaurants for online banking or remittance. This is because you will be putting your data and money at risk as there are hackers waiting for such opportunities.

3.    Third tip is to always compare rates and other factors before choosing an online money transfer agency. Don’t fall for the first agency that claims to offer lowest transfer fee or exchange rates. There might be hidden fee that you will end up paying at the end of the transaction. You need to remember that it is not possible to send money to China free or Philippines for free. However, you can certainly find low rates through comparison shopping.