Rocket Remit international money transfers in Australia. The fees, rates & how-tos
If you’re looking for a way to send money internationally from within Australia, you’ll no doubt have discovered that now there are a whole range of solutions...
Have you ever wondered about the safety behind sending money abroad? Well depending on which provider you choose can vary how safe your money and account will be.
This article will introduce you to OrbitRemit and the kinds of security features and safety information for your transfer when using their services.
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OrbitRemit began operations in 2008 in New Zealand out of the desire to help people move money overseas safely. Since then, there have been over 9 million transfers globally.¹
OrbitRemit is a reputable and trusted company that makes international money transfers. They have more than 24 thousand 5 star reviews on TrustPilot which outranks other providers rated on the same platform.² OrbitRemit also provides details on how they protect all transfers and personal information throughout their site.
OrbitRemit is subject to regulatory oversight by the Australian Securities and Investments Commission (ASIC) under the Australian Financial Services Licence (AFSL) number of 470646. They also have a regulatory obligation to the Australian Transaction Reports and Analysis Centre(AUSTRAC) under the AUSTRAC registration number of 100439420.³
OrbitRemit prioritises the safety of your money through these measures⁴:
Although these security measures are at work, it is important to note that no system is 100% foolproof and you should implement your own safety strategies to support these measures.
OrbitRemit predominantly specialises in international money transfers meaning you won’t necessarily be using your OrbitRemit account to hold money. However, you can use their services to make large transfers. The maximum limit that you can send depends on the country you are sending or receiving money from.
Here is a quick breakdown of how much you can send to some popular destinations from Australia.⁶
Country | Maximum Transfer limits |
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United Kingdom | No Maximum limit for transfers to personal or business accounts |
United States of America | No maximum limit for personal transfers, but an $800,000 USD for transfers to business accounts |
New Zealand | No Maximum limit for transfers to personal or business accounts |
Canada | $100,000 CAD maximum for both personal and business transfers |
Europe | No Maximum limit for transfers to personal or business accounts |
OrbitRemit have no control over what limits each country imposes on international money transfers.
Behind the scenes, the team at OrbitRemit are monitoring for any suspicious fraudulent activity happening through the use of their services. On top of this, there are built in security features into customer accounts to access guidance or help if they think there has been suspicious activity on their accounts.
Here are some tips to avoid falling victim to scams and protecting your account⁷:
Knowing what to look out for can stop scammers from accessing your account and money.
To protect your personal and sensitive data, OrbitRemit encrypts all data using secure coding languages. They also ensure their website maintains a valid and trusted web certificate that helps reinforce the security of your data.⁸
As a reporting financial institution to AUSTRAC, OrbitRemit must retain all personal and transaction data for a minimum of 7 years after the end of the respective income year that the account is active.⁸
It is not possible to request OrbitRemit to delete your data until they meet the 7 year data retention obligations. They do provide options to customers to access, modify and update any personal information through their website. If you cannot modify any of your information through your account, you will need to contact OrbitRemit.⁸
There are several protective systems working in the background to keep your account secure. These include the following.
SSL protects any sensitive information that is transmitted from their website. This extends to the web application and marketing sites.
To access your OrbitRemit account, you need to input a username and password to see any information stored within the account. This includes any personal information and relevant verification documents. OrbitRemit also destroys any physical documents securely after being uploaded if received by mail.
You can enable two factor authentication for your account through the web application which gives you an extra layer of security against unauthorised log-ins.
To be able to send a transfer, the biometric verification software is used in the verification process to match facial features against identity document photos.
The process to transfer money with OrbitRemit is designed to make sure every transfer can only be sent from a verified individual. This is done by OrbitRemit during the transfer process and through biometric verifications.
To verify your account and transfer you’ll need either⁵:
From here you’ll need your identity documents. When you are setting up your first transfer, you'll be requested to upload your documents and then asked to take a selfie to match your identity document photos. The best way to make sure the underlying technology can match your photos is by¹¹:
This verification process is an important element for how OrbitRemit can meet their legal obligations to know their customers.
As mentioned, you should try and keep your account safe by implementing your own tips to secure your account. Some key tips to keep your OrbitRemit account safe include¹²:
If you need to contact OrbitRemit in Australia, you should call +61 2 8188 3735
The Wise Account enables you to store over 40 international currencies and get local account details for a number of different countries, including AUD, NZD, EUR, USD and GBP. You can use these to easily transfer your money to Wise or get paid by others.
You’ll also avoid high international transaction fees and get access to the mid-market rate on all conversions and money transfers. The best part — you can open and manage your Wise account completely online.
Safety is super important at Wise and it’s regulated wherever it operates. In Australia, it is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL number 513764). On top of this, Wise has dedicated compliance teams and systems working around the clock to keep our customers’ money safe.
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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information. |
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Sources:
Sources checked on: 16 February 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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