How to Send Money from Australian Bank to TransferWise

Introduction:

TransferWise is a popular and convenient platform to send money across borders with low fees and transparent exchange rates. If you are in Australia and want to transfer money from your Australian bank to TransferWise, follow these simple steps.

Step 1: Create a TransferWise Account

To get started, open a web browser and visit TransferWise's official website. Click on the "Sign up" button to create a new account. Provide the required details, such as your name, email address, and create a secure password. Accept the terms and conditions to proceed.

Step 2: Verify Your TransferWise Account

Once you have signed up, TransferWise will send a verification link to the email address you provided during the account creation process. Click on the link to verify your account. This step is necessary to ensure the security and authenticity of your account.

Step 3: Add a Bank Account

After account verification, log in to your TransferWise account. Navigate to the "Banks and Currencies" section and click on the "Add a Bank Account" option. Select Australia as the country and provide your Australian bank account details accurately. Follow the instructions to connect your bank account securely with TransferWise.

Step 4: Initiate a Transfer

Once your bank account is successfully linked, go to the "Send Money" section on TransferWise. Select the amount you want to transfer and the currency you wish to send. Choose your Australian bank account as the funding source, and specify TransferWise as the recipient. Review the transaction details, ensuring all information is correct, and click on the "Confirm" button to initiate the transfer.

Step 5: Fund Your Transfer

TransferWise will provide you with the necessary details to fund your transfer within Australia. This may include the TransferWise bank account details and a unique reference number. Use your online banking platform or visit your bank's branch to send the desired amount to TransferWise using the provided details. Enter the reference number accurately to ensure proper allocation of funds to your TransferWise account.

Step 6: Track and Receive the Money

After completing the fund transfer, you can track the progress of your transaction within the TransferWise dashboard. TransferWise will notify you via email or push notifications once the money has been received. The funds will be converted at the mid-market exchange rate and sent to the desired recipient, as specified in the transfer details.

Conclusion:

Sending money from your Australian bank to TransferWise is a straightforward process. By following these steps, you can take advantage of TransferWise's low fees and competitive exchange rates, ensuring convenient and cost-effective international money transfers.