Transfer of money from Oz for land purchase

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Wolverine

New Member
Mar 14, 2022
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Hi, whats the cheapest & easiest way to transfer a large amount of money for the purchase of land to the Notary, as I'm in Bali atm, straight from my NAB Bank directly to Notary trust account?
 
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harryopal

Well-Known Member
May 5, 2016
660
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Hi, whats the cheapest & easiest way to transfer a large amount of money for the purchase of land to the Notary, as I'm in Bali atm, straight from my NAB Bank directly to Notary trust account?
Wise.com You can see what you would get and the charges without subscribing. If sending from Auz anything more than $9000 requires bank notification for checking against money laundering etc. However, you can make successive payments. I don't know what kind of delays may or may not occur with a single large amount.
 
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matsaleh

Super Moderator
May 26, 2004
2,432
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Legian, Bali
Wise.com You can see what you would get and the charges without subscribing. If sending from Auz anything more than $9000 requires bank notification for checking against money laundering etc. However, you can make successive payments. I don't know what kind of delays may or may not occur with a single large amount.
The most you can send in one transaction via Wise to Indonesia is IDR 490 million (about AU$47,500 at today's exchange rate). The fee for this transaction would be AU$243.63. I'm sure it's cheaper to send bank to bank for a large transaction.
 
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matsaleh

Super Moderator
May 26, 2004
2,432
108
63
Legian, Bali
@Wolverine, the transaction fees may be higher with Wise, but Wise' exchange rate may be better. I'd suggest you do a dummy run making the transfer with NAB and check the final amount that will be received in Indonesia before sending, and compare with Wise.

Sometimes, the extra fees with Wise are worth wearing, because their exchange rate is always better. As far as I know, NAB will give you the exchange rate they intend to use, before you complete the transaction.
 

Wolverine

New Member
Mar 14, 2022
19
6
3
The most you can send in one transaction via Wise to Indonesia is IDR 490 million (about AU$47,500 at today's exchange rate). The fee for this transaction would be AU$243.63. I'm sure it's cheaper to send bank to bank for a large transaction.
Which means l would need to do atleast 3 transactions so the fees would mount up, seems l might be better off to organise 1 transaction from NAB to Notary,...also, is there a preferred Indonesian bank that expats tend to use, l want to open an account...regards Jeff