Yes, you can send money overseas using a credit card. But it can be really expensive depending on how you do it. Learn how to make a credit card remittance, and find out about some cheaper alternative options. You can often do it through your bank, PayPal or Western Union. It’s
best to avoid using a credit card to transfer money for several reasons: Most of us have credit cards, and they’re a convenient way to buy now and pay later. In some cases, credit cards can be used to transfer money internationally. It’s vital to
understand the fees, charges and fine print so you don’t end up paying too much. In this article we’ll explore:Using a credit card to send money overseas
What we will cover
So, when should you use a credit card to transfer money overseas?
It is possible to send money overseas with a credit card, but the fees and charges make it more expensive than most other methods.
When you might want to use a credit card
There are some situations where you might want to use a credit card to send money:
- If you’re benefitting from a reward program like cashback or frequent flyer miles.
- You need to send money in an emergency and don’t have another way of funding your transfer.
Drawbacks of using a credit card
The drawbacks of using a credit card to send money include:
- Not all providers will accept a credit card as payment to fund your exchange.
- The credit card company will often charge higher interest rates on cash advances from the day you send the money.
- You will often pay other fees and charges if you send money using a credit card.
Can you pay off a credit card with an international bank account?
As a general rule - no. It's particularly hard to do this if the credit card you have isn't from the same bank as your international bank account.
Some good options to consider in these situations are the Wise (formerly known as TransferWise) debit card and the Revolut card.
Emergency transfers – MoneyGram, Western Union and PayPal
PayPal, Western Union and MoneyGram are best used only in an emergency. The fees and possibility of a “double conversion” (if you fund in a currency other than Australian dollars) mean that you won’t get a competitive return on your transfer.
- MoneyGram accepts credit card or debit card payment online, and cash in person. A card issuer cash advance fee and associated interest charges may apply.
- Western Union does accept international payments online via debit or credit card, at no additional penalty. They accept Visa and MasterCard. The maximum daily amount for an online transfer is $5,000AUD.
- PayPal does let you fund an international transfer with a credit card, but you will pay for the privilege. They accept Visa, MasterCard and American Express, but charge a minimum of 3.9% of your transfer amount. Additionally, fees can be as high as 7.4% depending on the country you are sending to.
Standard transfers – your bank
As international payment providers, banks can be versatile but do have their weaknesses. They provide multiple ways to fund and send your payment, although you’ll pay for all of them no matter what method you choose. The fees are higher than alternative transfer providers and the rates are worse. As a result, the cost of this extra “convenience” doesn’t seem worth it.
You can use a credit card issued by your bank to make an online international money transfer, providing it is linked to your online banking. Banks also accept credit cards for payment through other forms of transfer including phone banking and in person at a branch.
Best value transfers – dedicated currency providers
You’ll get the best value on your exchange rates and the lowest fees by using a dedicated currency provider like OFX, Wise or Remitly. It is worth checking which company you use to make sure they accept credit card before you sign up.
Compare money transfer exchange rates and fees
Download the Western Union® (WU) money transfer app and start sending money to Mexico and worldwide - with easily viewable exchange rates! Pay for your transfer instantly with a debit or credit card** or start a money transfer and complete the payment in cash at a nearby agent location! Sending money worldwide has never been easier with our money sending app. If you are a new customer: now you can transfer your FIRST money transfer for FREE* until October 31! *.
USE THE TRUSTED MONEY SENDING APP
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●Secure access to the app with touch & face ID
login
●Schedule transfer reminders weekly, bi-weekly or monthly to never forget to send to your loved ones
●Update the delivery method from cash pickup to bank account whether you are the sender or receiver
TRUSTED INTERNATIONAL MONEY TRANSFERS
Western Union’s international money transfer service allows you to send money directly to someone abroad reliably with our money sending app:
●NORTH AMERICA: Within the US and to Mexico, Jamaica, Haiti, Canada and more
●SOUTH
AMERICA: Brazil, Colombia, Ecuador, El Salvador, Dominican Republic, Honduras and more
●EUROPE: France, UK, Spain, Germany, Italy, Russia and more
●AFRICA: Ghana, Nigeria, Ethiopia, Senegal, DRC and more
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●AUSTRALIA & NEW ZEALAND
SEND MONEY WITHIN THE US
Send money within the US to a bank account or mobile wallet, set up a quick cash pickup at a US agent location, or transfer money into a
correctional facility account for a county, state, or federal prison inmate.
Don’t forget to refer your loved ones around the world, and you can get rewarded!
SENDING MONEY IS QUICK AND EASY
Pay for your transfer instantly with a debit or credit card or start a money transfer and complete the payment in cash at a nearby agent location! Users can receive the funds directly to their bank account or mobile wallet or pick up the cash at a convenient location near them in their own
currency. We have approximately 600,000 locations in over 200 countries and territories.***
●Download our cash transfer app and create a free profile to start sending
●Select the country you’d like to send money to and type in the amount to send
●Select how your receiver will get it (cash, bank account, mobile wallet)
●Select how you will pay for the money transfer (credit** or debit card, bank account, cash at a Western Union agent location)
●Add the receiver’s details, confirm
the transaction and your money is on the way
●Customize your transfer with a free e-greeting before sending the MTCN to your loved ones
Want to connect with us directly? Our customer care team is here to problem solve and answer any questions. We’re available by phone, email, or through convenient chat at //wucare.westernunion.com/.
FEES AND IMPORTANT DISCLOSURES
Western Union makes money from both transfer fees and currency exchange. When choosing a money transmitter,
carefully compare the transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.
Please use care when providing commissary or bank account information. Funds will be paid into the account corresponding to the account number you provide.
Services may be provided by Western Union Financial Services, Inc. NMLS# 906983 and/or Western Union International
Services, LLC NMLS# 906985. See terms and conditions for details.
* Until October 31, 2022. Currency exchange commission applicable.
** 3rd party charges may apply
*** As of September 2021