There are many ways to send money from one country to another:

Cash – You can send cash from Australia/New Zealand, by using one of many different money transfer organisations, and your family can pick up cash in the Island that they are in.

Card-to-card – You can send your money by using a bank card and the person you’re sending to can collect the money in cash at an ATM or the money can be spent in stores where the card is accepted

An International Money Order (IMO) - Your bank will give you an international guaranteed cheque and your family can then cash the cheque at their bank or pay it into their bank account.

Bank to Bank Transfer – If you have a bank account you can transfer money from this to a bank account in another country. The method used is often called a SWIFT transfer – this is the name of a transfer system.

The Internet – Some money transfer companies let you transmit through the internet. You need to set up a special account and then the company will send the money to your friend’s bank account or make it available for the money to be collected as cash.

New Technology – fortunately sending money is an area that is changing all the time due to new technology. In some countries it is now possible to send and receive money using a mobile phone, smart cards etc. This site will provide details of new ways to send money as they are developed.

There is no legal limit to the amount of money that you can send. However, many businesses that transfer money do limit the amount that they can send for you. You are likely to be asked to provide some additional identification or to answer some questions or by your money transfer company or your bank if the amount you want to send is large.

Identification requirements vary from company to company although it is common for identification to be requested for any amount over AUD 1000/NZD1000. You may need to produce a current form of identification such as a passport or photo driving licence. You also need to have this ID the first time you use a new money transfer company.

No, anyone can send money but you must have proof of who you are.

You should contact the company that you sent the money through and ask them to determine where it is. You should also make sure that the person you have sent the money to has contacted the organisation that should pay the money to them. If after all of this the money can still not be found and you are using a money transfer organisation to send your money, you should contact the Australian Financial Ombudsman service on +1 300 780 808 or look at www.asic.gov.au/fido/fido.nsf/byheadline/Complaints+-+guide+to+making+a+complaint?openDocument

For complaints in New Zealand please contact the Reserve Bank of New Zealand on 04 472 2029 or rbnz-info@rbnz.govt.nz

An exchange rate is a calculation used by the company transferring the money to convert Australian Dollars/New Zealand dollars into the currency that the person you are sending to collects the money in. Normally, when calculating the exchange rate an organisation adds a “margin”. This results in them making additional money from your transaction and is normal practice in the money transfer and banking industry. As this is often a hidden charge you are advised to compare the rates offered by different organisations.

You should ask your money transfer organisation if the exchange rate is guaranteed. If it is it means that you will know the exact amount that the person you are sending money to will receive. Not all companies guarantee the exchange rate so you should check these to ensure that you get the best deal for you.

This will depend on the country you are sending to and the amount that you are sending them. You should always ask the money transfer company that you are using what the person collecting the money will need to bring with them. In many cases they need to bring an identity card, passport or photographic driving licence.

Different methods take different amounts of time. Always check with your provider. In general cash transfers and card transfers take between 10 minutes and 2 days and bank account transfers take 2 to 5 days.

You will need to check with the company you are using and the company should tell you before you complete the transfer. Many, but not all, of the transfers from Australia and New Zealand do not require the person receiving the money to pay anything.

If you are withdrawing transferred funds from an ATM in the recipient country, you should be aware that ATM surcharges may apply.

There are many different organisations which transfer money from Australia/New Zealand so it is not an easy decision to make. Here are some helpful hints:

Banks – if you have a bank account your own bank may be able to transfer money for you. You will not be able to transfer money via another bank.

Money transfer organisations (MTOs) – these are companies that specialise in transferring money. They vary in size from large multi-national companies to small specialist businesses. You should research which one suits your needs and your pocket.

You are encouraged to use the information on this site and to make other enquiries to determine which the most appropriate service for you is.

This site provides a comparison between different money transfer organisations that send money from Australia or New Zealand to eight Pacific Islands. The methodology that has been used is consistent with that used by the World Bank in its site http://remittanceprices.worldbank.org/. That website contains price comparisons that cover 120 money transfer routes. A robust methodology was developed for that site which has become the de facto standard for remittance price comparison sites around the world.

Data was collected by posing as customers and contacting individual firms within each corridor. Researchers collected data within each corridor on the same day, in order to control for fluctuations in exchange rates and other changes in fee structures.

• Operator data is collected for all the major service providers in each corridor, including both the primary Money Transfer Operator (MTO) and Banks active in the market. In some markets very few banks or MTOs operate. Companies surveyed within each market have been selected to cover the maximum remittance market share possible.

• Amounts: Two amounts have been surveyed per corridor: $200 and $500. These sums have been chosen to reflect what is believed to be the average amount transferred and the most frequently transferred amount.

• Transfer fees: This is the most visible cost and can differ significantly among different companies. This fee usually represents the charge the sender pays at the initiation point, and can vary depending on the amount sent. In some cases, there may be fees and taxes that are charged at the destination that have not been detected in this database.

• Exchange Rate Fee: An important portion of the remittance cost is the exchange rate spread, which is not quoted in the transfer fee. The majority of remittance transactions are paid in local currencies, and, thus, an exchange operation is required. In this database, where remittances are paid in US dollars, or where exchange rate information was not provided, this information may not be available. In these cases, the total costs might be higher than indicated in the database and an approximate (worst case) exchange rate has been substituted to emphasise this circumstance.

• Speed of transfer. The website covers a variety of transfer methods including cash-to-cash and account-to-account transfers. The speed of transfer is noted for each product based on the informationsupplied by the operators

The compare costs tables contain 9 columns. This section provides more information on information contained within each one.

• Operator – the name of the organisation in the sending country (Australia or New Zealand) that will transfer your money

• Location – this describes the place that you can go to or the method that you can use, in the sending country, to send your money. Where appropriate it describes whether the service is available nationwide or only in selected areas. It also advises if you can order the service on line.

• Method of transfer – this describes how the money is ordered in the sending country. One of three descriptions is used:

o C – cash-to-cash – means that a person can physically walk into a location and pay cash for the transaction. In cases where this is at a bank location it is normally necessary for that person to have an account with that bank

o E – electronic – means that the person can order and pay for a transaction over the phone

o O – online – a customer can order and pay for a transaction over the internet

• Fee – This represents the fee paid by the sender only. It does not include any money paid by the receiver.

• Total cost – this represents the total amount, expressed in the sending currency, that it will cost for the transaction. This includes the fee paid by the sender, any fees paid by receiver and the total cost of the foreign exchange in relation to the transaction. Note, there may be some other costs that are hidden and not covered in this survey, e.g. ATM costs, local delivery costs, etc.

• ‘x local currency’ received for an initial ‘x’ amount – represents the amount that will be received by the person receiving the money, in their own currency, after taking into account all known costs

• Speed of transfer – shows the anticipated length of time between the sender giving the instructions and the money being available to be collected or credited to an account under normal circumstances. The times are given in the number of working days. The actual amount of time taken may vary depending on unforeseen circumstances. Times given on this website are subject to different time zones and the opening hours of the receiving location

• Outlets – describes the places where the money can be collected or where it is delivered to, e.g. a bank account. Note, that if the chart says ‘Tongan bank account’ it is a requirement that the receiving customer already has a bank account before the money can be sent on that occasion

• Compare – By ticking boxes in this column it is possible to compare more than one company that is operating in this market