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Frequently Asked Questions

Here are the answers to some of the questions we get asked the most. If your question's not here, we're still happy to help. Get in touch.

1. Getting started

2. Exchange rates

3. Transferring funds

4. Payment methods

5. Costs

1. Getting started

Once I've registered, how long does it take for my account to  get activated?

    As soon as we have received a copy of your passport and proof of your residential address (signed and dated by yourself), we will activate your account within 24 hours.  If you are doing a transfer in excess of $10,000, we will will request a couple of additional documents. 

2. Exchange rates

How is the exchange rate determined? Why is it better than the banks' rate?

    The exchange rates we offer fall in-between the inter-bank rate (which is the truest exchange rate) and the rate offered by banks and Bureaux de Change - thus undercutting the banks and passing that saving on to you. 

    The rates on our site are updated throughout the day, but they must be viewed as indicative only. To get you the best rates, we canvass the market on your behalf, add a small margin (which is smaller than the banks) to the rates we obtain, and pass that rate on to you.

Why can't I get the exchange rate listed on TV?

    The rate you see in the media is the interbank rate, which is the rate that banks trade at with each other only. No individual can secure this rate. Rates are often misleadingly displayed by banks and competitors in order to portray a higher rate level, which is not possible in reality.

    We pride ourselves on being transparent and will only quote rates that we are physically able to offer you.

3. Transferring funds

Which countries can I send funds between?

    We can transfer funds to just about any worldwide destination. Currently, our most popular destinations are New Zealand, the UK, Poland, South Africa, Canada, the USA (including US Dollar payments to any country), and all Eurozone countries. If your country is not listed as an option on our website, please do contact us

Can I send money to a credit card?

    We can send money to South African credit cards. Unfortunately, at present, we cannot transfer money to Australian, New Zealand or UK-based credit cards.

How long does a transfer take to be processed?

    Once we have cleared your funds into our client account, and received the documentation that may be required for the transaction to take place, the converted funds will be credited to your nominated overseas account within 3 working days.

What are the minimum and maximum amounts that can be transferred?

    We have no minimum or maximum transfer amounts. However, in terms of anti-money laundering legislation, clients requesting any once-off transaction of $10,000 or a number of transfers totalling $30,000 over a 12-month rolling period, will be required to provide us with additional documentation relating to the proof of the source of funds. 

    If you are looking at doing a transfer of a larger amount, please give us a call, as we offer premium rates for any transfers over $10,000. 

How can I be sure that my funds will be allocated correctly?

    If you are using internet banking, it is very important for you to make sure that your funds will clear under your name and surname. If you use your name and surname as the payment reference, we will know that the funds are from you, and we can then process your transfer as soon as the funds clear. 

    If you know that the funds will be clearing under a reference other than your own name and surname, please send an email to ausfx@1stcontact.com.au, and let us know what name the funds should clear under. This should decrease the likelihood of a delay.

4. Payment methods

What methods of payment can I use to transfer the funds to your account?

We accept these methods of payment:

  • Internet banking payment (EFT)
  • BPAY (Australia only)
  • Branch deposit (cash)
Please note that for internet and cash payments, we require proof to be emailed or faxed to us in order for us to allocate your funds for transfer. 

Debit card payment is currently available in the UK only.

What process should I follow if I choose to pay via internet banking?

If you have chosen internet banking as your preferred payment method, you will need to complete two stages in terms of your transfer:

  1. Upload the transfer instruction on your profile. This shows how much, where to, and when you want the funds to be sent. 
  2. Log in to your internet banking account and transfer the requested amount to the relevant 1st Contact client account, using your name and surname as the payment reference. 
When you upload the transfer on our website, the appropriate account details will appear for the client holding account that you need to transfer the funds into.


What process should I follow if I choose to pay with cash?

As with the internet banking, there are also steps to take when paying with cash.

  1. Upload the transfer instruction on your profile. This show how much, where to, and when you want the funds to be sent.
  2. Go to your local ANZ branch, and deposit the cash into the correct client account (these details are automatically provided online). You will need to give the ANZ teller a numerical reference, e.g. your date of birth. Please make sure that this number is provided to our office – along with your name, contact number, and the details of your recipients. 
  3. Contact us to advise us of your branch deposit – this is very important as we need to know to be able to allocate the funds correctly. 

5. Costs

Are there any hidden charges or receiving bank costs?

No, there aren’t. Two of the main advantages of using our money transfer service are that we:

  1. Charge a flat fee
  2. There are no receiving bank fees when you transfer to the UK, Australia, New Zealand, South Africa, Poland or anywhere in the Eurozone. 

6. Security

How secure is the site?

We take security very seriously. Our site uses Secure Socket Layer (SSL) encryption to protect your transaction details. 128-bit encryption is the latest and strongest in data encryption techniques available for securing client information.

SSL works by encrypting data from our website to your computer. The data is encrypted on our web server, and can only be decrypted or unscrambled by the person with the correct decrypt key. You can verify our site’s use of SSL in two places:

  1. The use of “s” in “https” (the address bar of the site)
  2. The padlock in your status bar at the bottom of your web browser

Do you monitor suspicious activity?

Yes. We are a registered, AFS-licenced ASIC financial services company. The law requires us to monitor any unusual or suspicious transactions of any size taking place, especially where we have reason to believe the money is derived from illegal activity. We report any suspicious transactions to AUSTRAC.

The law also requires us to keep full records of all transactions, together with copies of the identification provided. We are unable to process any transaction where this information is withheld. Proof of address and proof of funds may be required in certain cases.