Thursday 26 November 2015

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. 

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