Money Travels Review Australia: Fees, Limits, and How It Works

Money Travels¹ is an international transfer service based in Sydney, which offers digital payments from Australia to Pakistan, which can be deposited in bank accounts or collected in cash.

This Money Travels money transfer review looks at how the service works to send and receive payments, and the costs involved. We'll also introduce to you Wise that can help you save on international transfers with it's low, transparent fees and mid-market exchange rates.

What is Money Travels?

Money Travels has been established for over 15 years, and is based in the Sydney suburb of Lakemba. The company specialises in remittances from Australia to Pakistan.

You can make your Money Travels international transfer online, and pay in AUD from your bank, with funds converted to PKR and passed to your recipient as a bank deposit, or as cash which can be collected through agents in Pakistan. The Money Travels international transfer fee may be waived if you’re sending 300 AUD or more, but the exchange rate you’re offered may include a variable markup depending on the service selected.

Is Money Travels safe for money transfers?

Money Travels is a registered Australian business which is regulated by the Australian Securities and Investments Commission (ASIC)². It is considered safe to use with normal precautions, such as sending only to people you know and double checking all details are correct before a payment is initiated.

Can I make an international transfer with Money Travels?

You can use Money Travels to receive an international transfer to a bank in Pakistan in PKR, or you can collect cash over the counter at branches of the following banks:

• United Bank Ltd (UBL)
• Bank of Punjab
• Meezan Bank

How to send money overseas with Money Travels

To send money overseas with Money Travels you must first register and get verified. You can then start to arrange payments digitally. Here’s what you need to do:

1. On the Money Travels website click Register
2. Follow the prompts to enter your personal and contact information
3. Upload an image of your government issued ID document, and a selfie

Once your account has been verified you’ll receive an email saying you can start to transact. At this point you can add a beneficiary to your account to make your first payment. To add a beneficiary you’ll be prompted to enter their name and address, as well as their banking information.

To make your payment you’ll be directed to the Money Travels client area through the website. Here you can take the following steps:

1. Enter the amount you want to send in AUD
2. Enter the remittance reason
3. Choose the payout method you prefer
4. You’ll be shown a fee and exchange rate quote
5. Once you're ready, pay using a bank transfer (EFT)

Once your money has been received by Money Travels it will be passed on to the recipient following your preferred payment method.

How to receive money from abroad with Money Travels

To receive money from abroad into a bank in Pakistan with Money Travels you’ll need to give the person sending you money the following bank details:

• Beneficiary Account Name
• Beneficiary Account No (24 Digit IBAN)
• Bank Name
• Branch Code
• Branch Address
• Bank City

If you are collecting your payment in cash from a bank branch you will be asked to visit the branch in person with your government issued ID document to get your money.

Money Travels international transfer fees and limits

Shopping around to make sure you get a good value transfer is essential. Let’s look at the important costs involved with Money Travels international transfers, as well as the limits which apply.

Money Travels international transfer fees

Money Travels international transfer fees are waived for payments of 300 AUD or more. For lower value transfers, the fee you pay depends on the pay out method. You’ll see a fee quote when you arrange your transfer. Bear in mind that as well as any transfer fee which applies, there are also likely to be costs built into the Money Travels exchange rate, which we’ll look at next.

Money Travels exchange rate

Money Travels will use a different exchange rate depending on how you want your money to be received, and also the value of your transfer. The exchange rate available is shown on screen before you confirm your payment.

Money Travels exchange rates are likely to include a variable markup. This is a percentage fee added onto the rate used to convert your AUD to PKR for deposit or collection. While using a markup is very common, it can also mean your recipient gets less than you expected, and your transfer costs more overall than you realise.

You can compare the rate you’re quoted from Money Travels against the live mid-market rate which you can find on Google.
Wise handles things differently. With Wise, you get the mid-market rate, which is always transparently available on the website and in the app, essentially the rate you see on Google.

Money Travels international transfer limits

The Money Travels transfer limit depends on the payment pay out method.

You can collect up to 500,000 PKR as cash.

There’s not a specified limit on the amount you can send for a bank deposit, but if any limits apply on your transfer you’ll be notified when you set it up. High value or frequent transfers may require Money Travels to complete verification checks, which might mean you’re asked for some additional documents to support your transfer, showing the source of funds.

Is Money Travels good for international money transfers?

Money Travels is a specialist service which offers remittance payments from AUD to PKR, for cash collection or bank deposit. You can arrange your transfer online once you have a verified account, and pay from your Australian bank.

Money Travels has some transfer fees which may be waived - and is also likely to add an extra cost into the exchange rate you get for currency conversion. Compare your options carefully, looking at the rates available as well as the costs. Using a digital provider like Wise, which offers the mid-market rate and low, transparent fees, may end up being cheaper overall, meaning your recipient gets more in the end.

Save on international transfers with Wise's low fees and mid-market exchange rate

Wise is an easy way to save up to 3x when sending money overseas. You can make extra secure transfers to 140+ countries, which are easy to set up with no physical paperwork and completed usually in seconds.

With low, transparent pricing and the mid-market exchange rate for all your currency conversions for your foreign transfers, you'll usually get the best value for your money. Wise lets you see exactly what you're paying for a transfer, and what the recipient will get, with no hidden fees.

For managing foreign currencies even easier, create a free Wise account, and you'll be able to manage and convert your money in AUD and 40+ other currencies. Plus, you'll get local account details in 8+ currencies, making it easy to receive money from abroad whenever you need. You'll be able to track your transfers all in one place.

When it comes to international transfers, Wise makes things easier and cheaper.

📤 Send money with Wise