Please, what is the cheapest way to transfer 10.000 Australian dollars to Indonesia from Australia

[Melati]

Somebody is planning to send us 10.000 Australian dollars from Australia to Bali, please could you advice us what would be the best way to send that quantity of money?. We have pay pal account but I think the commission is high, I hear a lot about transferwise but never use it.
Terimakasi, have a beautiful evening.

 

[JackStraw]

Somebody is planning to send us 10.000 Australian dollars from Australia to Bali, please could you advice us what would be the best way to send that quantity of money?. We have pay pal account but I think the commission is high, I hear a lot about transferwise but never use it.
Terimakasi, have a beautiful evening.

Transferwise is the best bet in my opinion (other than cryptocurrency) but just to keep it simple, Transferwise is the way to go.

 

[harryopal]

Transferwise is the best bet in my opinion (other than cryptocurrency) but just to keep it simple, Transferwise is the way to go.

Yes, I second that. But send as Rupiah as if it is exchanged by your bank here the rates might not be so good. Without registering you can immediately see what it would cost and the conversion to Rupiah would be by logging on to transferwise.com . Whatever you do don't transfer using an Australian bank. Lost a lot of money with terrible bank exchange rates.

 

[harryopal]

Oops. I forgot to mention my advice fee so for sending $10,000 my charge will be a very reasonable 10%. Need any other advice?

 

[Melati]

Oops. I forgot to mention my advice fee so for sending $10,000 my charge will be a very reasonable 10%. Need any other advice?

hahaha you made me laugh! thanks for that harryopal! good one

 

[Juggler]

I sent some AUD over the other day ....the rate was 10704...wowo

 

[Melati]

I sent some AUD over the other day ....the rate was 10704...wowo

Juggler, did you use transferwise? yes that it is quite high righ? usually has been always around 9.000

 

[Juggler]

Juggler, did you use transferwise? yes that it is quite high righ? usually has been always around 9.000

current rate is 10549. it is the cheapest way to do it and the AUD is quite high now

 

[Juggler]

ge an app called xe or o to xe.com......live rate are there and xferwise is very cloe to live rate

 

[Melati]

Our friend send us already one hour ago, 1.000 australian dollars first and she paid only 6,67 Australian dollars commission from transferwise, and the rate it was 10.541,5 one australian dollar.
She paid 11,23 AUD from her bank. Very easy, quick and cheap! she is so happy about knowing this as well, me as well, neither of us has used it before. So nice feeling to learning new things! thanks a lot for your help, have a beautiful evening.

 

[PERtoDPS]

Glad you figured it out Melati. I agree transferwise is number 1 however Western Union is usually close behind in the rate, you go in to an agency in Australia and send cash and then the receiver is given an MTCN number which they can pick up at many banks/Western Union agents in Bali.

 

[Melati]

Glad you figured it out Melati. I agree transferwise is number 1 however Western Union is usually close behind in the rate, you go in to an agency in Australia and send cash and then the receiver is given an MTCN number which they can pick up at many banks/Western Union agents in Bali.

thanks for letting me know PERtoDPS, it is always nice to know different ways to do it.

 

[Juggler]

Our friend send us already one hour ago, 1.000 australian dollars first and she paid only 6,67 Australian dollars commission from transferwise, and the rate it was 10.541,5 one australian dollar.
She paid 11,23 AUD from her bank. Very easy, quick and cheap! she is so happy about knowing this as well, me as well, neither of us has used it before. So nice feeling to learning new things! thanks a lot for your help, have a beautiful evening.

hey rate now 10835....outstanding

 

[Gulali]

I've been using moneygram from the U.S to do transfer to Indonesia and other countries. After the pandemic began we can now do it all online. They received it most instantly. There is a maximum amount on each transaction and each 30 days though. The fee is free if you do it from bank to bank or bank to moneygram location. What I do, I made a few transactions to make it under the maximum amount. You can check their maximum amount and rates and the monthly maximum amount on their website.
Moneygram.com

 

[PERtoDPS]

I've been using moneygram from the U.S to do transfer to Indonesia and other countries. After the pandemic began we can now do it all online. They received it most instantly. There is a maximum amount on each transaction and each 30 days though. The fee is free if you do it from bank to bank or bank to moneygram location. What I do, I made a few transactions to make it under the maximum amount. You can check their maximum amount and rates and the monthly maximum amount on their website.
Moneygram.com

I think you'll find much like WU the "free" fee is actually that the MG exchange rate is lower than the real exchange rate, which is where those companies make their money.

 

[travelinggems]

Have you tried Bitcoin or a stablecoin like USDT or USDC? Fast, cheap & easy.

 

[Markit]

Have you tried Bitcoin or a stablecoin like USDT or USDC? Fast, cheap & easy.

You mean PonziCoin?

 

[JackStraw]

You mean PonziCoin?

If Bitcoin is a Ponzi, then surely we have to add the mighty US Dollar (or any fiat currency) into the conversation. Fiat money, issued and controlled by the banks is the quintessential definition of a pyramid scheme.

Fiat is controlled by a very small group of insiders. Without exception, banks have manipulated the supply and distribution for their own benefit.
There is no transparency to speak of and users have no say in policy.

But back to Bitcoin, I really don't think it is a Ponzi. Bitcoins are essentially a commodity with a fixed rate of issuance. It is not a ponzi because after you've acquired bitcoins, there is no promise extended that you can redeem them for any value and there are no dividends paid to those who hold bitcoins. Bitcoins are traded, so the exchange rate can rise or fall, so there are those who will buy or sell bitcoins to speculate on the price.

 

[Markit]

If Bitcoin is a Ponzi, then surely we have to add the mighty US Dollar (or any fiat currency) into the conversation. Fiat money, issued and controlled by the banks is the quintessential definition of a pyramid scheme. The "mighty" dollar's value is freely accessible by anyone wishing to know and is handled openly on all exchange markets - along with all the other freely exchangeable moneys of the world.

Fiat is controlled by a very small group of insiders. Without exception, banks have manipulated the supply and distribution for their own benefit.
There is no transparency to speak of and users have no say in policy. Some people seem to be just born to believe bullshit! Which "small group of insiders" are you talking about? All the exchange handlers in the world? All the companies that freely buy and sell future contracts and value assessments hedging against wild fluctuations in their currency of choice? Dude if tomorrow every exchange handler decides the dollar isn't worth shit then - hey! Presto! It aint worth anything. Pray tell what controls are there on the almighty PonziCoin? How many PonziCoin exchanges have been robbed of their contents? Could you lose half a billion dollars in a hard disk on a land fill sight?

But back to Bitcoin, I really don't think it is a Ponzi. Bitcoins are essentially a commodity with a fixed rate of issuance. It is not a ponzi because after you've acquired bitcoins, there is no promise extended that you can redeem them for any value and there are no dividends paid to those who hold bitcoins. Bitcoins are traded, so the exchange rate can rise or fall, so there are those who will buy or sell bitcoins to speculate on the price.

Here's the worst thing of many bad things about PonziCoin: Bitcoin’s electricity usage is enormous. In November, the power consumed by the entire bitcoin network was estimated to be higher than that of the Republic of Ireland. Since then, its demands have only grown. It’s now on pace to use just over 42TWh of electricity in a year, placing it ahead of New Zealand and Hungary and just behind Peru, according to estimates from Digiconomist. That’s commensurate with CO2 emissions of 20 megatonnes – or roughly 1m transatlantic flights.

If the fools that want to believe in something that only exists on the hard disk, server or cloud of a computer has any external value then may the power be with them but I would rather bet on pigs flying.

Further: Burning huge amounts of electricity isn’t incidental to bitcoin: instead, it’s embedded into the innermost core of the currency, as the operation known as “mining”. In simplified terms, bitcoin mining is a competition to waste the most electricity possible by doing pointless arithmetic quintillions of times a second.

This is a winner-takes-all game, where the prize is guaranteed to be paid to one, and only one, miner every 10 minutes. Burning more electricity increases your chances of winning, but correspondingly decreases everyone else’s – and so they have a motivation to burn more electricity in turn.

PonziCoin indeed?! It should be banned and I'm sure it will be in our Green New World - this idiocy has no place. None!

 

[JackStraw]

Here's the worst thing of many bad things about PonziCoin: Bitcoin’s electricity usage is enormous. In November, the power consumed by the entire bitcoin network was estimated to be higher than that of the Republic of Ireland. Since then, its demands have only grown. It’s now on pace to use just over 42TWh of electricity in a year, placing it ahead of New Zealand and Hungary and just behind Peru, according to estimates from Digiconomist. That’s commensurate with CO2 emissions of 20 megatonnes – or roughly 1m transatlantic flights.

If the fools that want to believe in something that only exists on the hard disk, server or cloud of a computer has any external value then may the power be with them but I would rather bet on pigs flying.

Further: Burning huge amounts of electricity isn’t incidental to bitcoin: instead, it’s embedded into the innermost core of the currency, as the operation known as “mining”. In simplified terms, bitcoin mining is a competition to waste the most electricity possible by doing pointless arithmetic quintillions of times a second.

This is a winner-takes-all game, where the prize is guaranteed to be paid to one, and only one, miner every 10 minutes. Burning more electricity increases your chances of winning, but correspondingly decreases everyone else’s – and so they have a motivation to burn more electricity in turn.

PonziCoin indeed?! It should be banned and I'm sure it will be in our Green New World - this idiocy has no place. None!

So what do you consider "green" energy in your opinion? Just out of curiosity...