Every Irish person who moves to Australia sends money between the two countries several times: savings over when you land, wages home for the loan or the mortgage, and the big one when you sell up and leave. Do it through your bank and the exchange rate alone can quietly cost you up to 4%, on top of the fee, without it ever showing up as a charge. This guide covers the best and cheapest way to send money from Ireland to Australia in 2026, what it actually costs with each option, and how to do it.
Quick answer
Everyday transfers (a few hundred to a few thousand): CurrencyFair (Irish, €3 flat fee, first ten transfers free through this link) or Wise. Both cost roughly 0.5% all in, against up to 4% at a bank. Compare the two on the day, because the rate moves.
Large amounts (€10,000+, a house sale, your super): get a TorFX quote as well. No transfer fee, a dedicated account manager who can lock a rate for you, and an Irish Around Oz discounted rate through this link.
Why not just use the bank?
Because the fee you see is not the fee you pay. Irish banks charge a fee to send money outside Europe (as of October 2026: €5 online at Bank of Ireland, €15 online at AIB, €31.50 at PTSB), and then convert your euro at their own exchange rate. That rate is where the real money goes, and it never appears on a statement as a fee. Bank of Ireland publishes its margin: up to 4% on Australian dollars for amounts under €10,000. On €5,000, that is up to €200 you never see.
Here is what happened to me. I landed in Perth in 2013 with €3,000 and sent it from my Irish account to my new Commonwealth account. It took four days and cost me over AUD 150 between the charges and the rate. I did not even notice until a mate put me onto CurrencyFair a few weeks later and I ran the same transfer through their calculator. It was the last time I used a bank.
Move €8,000 of savings over in two or three goes at a 4% margin and that is €320 gone before you have paid a single fee.
What it costs to send €5,000 to Australia
Here is what each option charged when we checked on 26 October 2026, sending €5,000 from an Irish bank account to an Australian one. Rates move every minute and fees change, so treat this as a guide and always check the live quote before you send.
| Option | Fee | Exchange rate | Rough cost on €5,000 |
|---|---|---|---|
| Wise (paid by bank transfer) | 0.43% + €1.08 | Mid-market rate, no markup | About €22.50 |
| CurrencyFair | €3 flat (free on your first ten transfers through our link) | About 0.5% from mid-market on average, by CurrencyFair’s own figure | About €27 to €30 |
| TorFX | €0 | A margin is built into the rate; it is not published | Get a quote. Best compared on bigger amounts |
| Revolut (free plan) | Transfer fee shown in the app | Fee-free exchange up to €1,000 a month, then 1% (plus 1% at weekends) | About €40 in exchange fees, plus the transfer fee |
| Bank of Ireland (online) | €5 | Up to 4% margin on AUD (published) | Up to about €205 |
| AIB (online) | €15 | AIB’s own exchange rate | €15 plus the rate margin |
| PTSB | €31.50 | PTSB’s own exchange rate | €31.50 plus the rate margin |
Sources: each provider’s own pricing pages and the banks’ published fee schedules, checked 26 October 2026. “Mid-market” is the real exchange rate you see on Google.
The takeaway: the two specialists are within a few euro of each other, so compare them on the day. The gap between either of them and a bank is a couple of hundred euro on every €5,000.
The four services worth using
I have used all of these personally and thousands of people in the Irish Around Oz groups have too. Fees are as of October 2026 and can change, so check the calculator before you send.
CurrencyFair
Best for: regular transfers in either direction, and anyone who likes an Irish company.
- €3 flat fee per transfer; CurrencyFair says its rate averages about 0.5% from mid-market
- Irish, regulated by the Central Bank of Ireland
- You see the rate and the exact amount landing before you confirm
- Works both ways, EUR to AUD and AUD to EUR
- First 10 transfers free with the Irish Around Oz link
Wise
Best for: everyday transfers and a multi-currency card for the first few months.
- Real mid-market rate plus a fee shown up front: about €22.50 on €5,000
- Pay by bank transfer, not debit card. The card option costs more (1.23% instead of 0.43%)
- Wise card lets you spend in AUD from your euro balance before you have an Aussie account
- Works both ways
TorFX
Best for: €10,000 and up: house sales, inheritances, moving your super home.
- No transfer fees on any amount
- Dedicated account manager you can ring
- Forward contracts to lock a rate before you sell
- The margin is in the rate, so put its quote side by side with the apps on big amounts
- Discounted rate for Irish Around Oz readers
Revolut
Best for: people who already bank with it and want a card that works day one.
- Free plan: fee-free exchange up to €1,000 a month, 1% above that
- Free plan weekend exchanges (Friday evening to Sunday evening, New York time) cost an extra 1%, so exchange on a weekday
- Instant top-up from your Irish card
- Handy for the first weeks before your Australian account is open
Which one, for which job
- Landing in Australia with your savings: CurrencyFair or Wise. Open the account before you fly, then send your savings over once your Australian bank account is verified in a branch. Our money checklist for moving to Australia has the full plan.
- Sending wages home every month: CurrencyFair or Wise. CurrencyFair’s €3 fee is waived on your first ten transfers through our link (CurrencyFair’s offer runs for six months from when you open the account).
- Spending in your first fortnight: Wise or Revolut card, topped up from Ireland.
- Bringing home a house deposit, a house sale or your super: get a TorFX quote and compare it with CurrencyFair and Wise on the same day. Ring them, agree a rate, and do not let it sit in a bank account waiting for the rate to “get better”.
- Paying an Irish mortgage or loan from Australia: leave the direct debit on your Irish account and send enough a few days before it comes out, with a month’s repayment kept there as a buffer.
How to do your first transfer
- Open the account online with your passport and proof of address. Verification can take up to a day, so do it before you need it.
- Send euro from your Irish bank to the service by normal SEPA bank transfer. With CurrencyFair, paying in is free.
- Check the rate and the exact amount of Australian dollars that will arrive, then confirm.
- They pay out to your Australian account from their Australian bank, so there is no international receiving fee at your end.
Same steps in reverse for sending money home. From Australia you pay CurrencyFair in by bank transfer or BPAY, and it says euro payments to Irish accounts take one to two working days.
Questions that come up in the groups
What is the best way to send money from Ireland to Australia?
For most people, a specialist money transfer service rather than a bank. Use CurrencyFair or Wise for everyday amounts (compare the two on the day), and add a TorFX quote once you are moving €10,000 or more. Whichever you pick, set the account up before you need it, pay in by bank transfer rather than card, and check the exact amount landing before you confirm.
What is the cheapest way to send money to Australia?
It changes daily, so the honest answer is: whichever specialist quotes you the most Australian dollars on the day. When we checked on 26 October 2026, sending €5,000 cost about €22.50 with Wise and about €27 to €30 with CurrencyFair, against up to about €205 through Bank of Ireland at its published margin. The difference between the two specialists is a few euro. The difference between a specialist and a bank is a couple of hundred.
Is it safe?
All four are licensed and regulated. CurrencyFair is regulated by the Central Bank of Ireland (and by ASIC for its Australian business). Wise is supervised by the National Bank of Belgium. TorFX looks after EU customers through Currencies Direct Spain, authorised by the Bank of Spain. Revolut operates in Ireland as a licensed European bank. What is not safe is sending money to a “friend of a friend” who does cash swaps in the groups. Do not.
How long does it take?
Card top-ups with Wise or Revolut are instant. Bank-funded transfers usually land in one to two working days. For large TorFX transfers, your account manager gives you the timeline with the quote.
Is there a limit on how much I can send?
Your Irish bank’s online limit is usually the first one you hit: €10,000 a day at AIB and €20,000 a day at Bank of Ireland. For a house sale or a big lump sum, ring TorFX or your bank first.
Do I need an Australian bank account first?
To receive a transfer, yes. The big banks let you apply online shortly before you land (as of October 2026, CommBank and Westpac within 14 days of arriving, NAB within 30), but you can only put money in once you have shown your passport in a branch. So bring a Wise or Revolut card for the first few days, open the transfer account before you fly, and send your savings over once your Australian account is verified.
What about PayPal or Western Union?
Both build a markup into the exchange rate on top of any fee, so they usually work out dearer than the specialists. Compare the rate they offer with the mid-market rate on Google and you will see the gap. They are the bank problem in a different jumper.
I am selling a house in Australia and moving home. What do I do?
Talk to TorFX before you exchange contracts. A forward contract lets you lock today’s rate for settlement day, so a 2% swing in the euro does not cost you €8,000 on a €400,000 sale. Also read claiming your super back and what to do when you are leaving Australia. Heading home for good? Our guide to moving back to Ireland from Australia covers shipping, your car and your first weeks back.
Ready to send?
Everyday money: CurrencyFair, first ten transfers free, or Wise. Big money: TorFX, discounted rate and someone to talk to.
Some links on this page are referral links. They cost you nothing and often get you a better deal than going direct. Fees and rates checked 26 October 2026 on each provider’s website and in the banks’ published fee schedules. They change, so always check the live quote before you send.