Send Money to Australia with Peanut — Coming Soon
Peanut is expanding to Australia. Soon you'll be able to send money and have recipients access funds via NPP — Australia's real-time payment system.
Send Money to Australia with Peanut — Coming Soon
Australia's New Payments Platform (NPP) processes over 2.2 billion transactions per year, enabling instant account-to-account transfers 24/7 through PayID — where you send money using just a phone number or email address instead of a BSB and account number. But sending money to Australia from abroad still means dealing with 1-3 day bank transfer delays, fees of 1-3%, and exchange rate markups that reduce the Australian dollars the recipient actually receives.
Peanut is building a faster, cheaper way. Soon you will be able to send money to Australia and have the recipient access funds instantly through NPP. No fees, no local ID required, no multi-day wait for the transfer to settle.
Why Peanut Will Be the Best Way to Send Money to Australia
Better Exchange Rate
The Australian dollar is one of the world's most traded currencies, with tight AUD/USD pricing. Yet traditional transfer services still add their own markup. Wise charges a variable fee plus a rate markup. PayPal takes 3-4% through combined fees and conversion charges. Bank transfers on the UK-Australia corridor typically charge 1-3% in fees. Peanut converts digital dollars directly to local currency at a competitive market rate, bypassing those layered costs.
No Fees
Peanut charges nothing on deposits, sending, or local access. Depositing into Peanut is free. Sending to the recipient is free. The recipient accessing funds through NPP will be free. No transfer fees, no receiving fees, no hidden conversion charges. That is a significant improvement over the $5-$15 flat fees plus rate markups that Western Union charges, or PayPal's 3-4% cross-border take.
Instant via NPP
NPP enables 24/7 real-time transfers between virtually all Australian financial institutions — Commonwealth Bank, Westpac, ANZ, NAB, and hundreds of credit unions and smaller banks. PayID allows transfers using a phone number or email instead of account details. When Peanut launches, recipients will access funds through NPP instantly rather than waiting 1-3 business days for an international bank transfer.
No Local ID Needed
Opening an Australian bank account typically requires a TFN (Tax File Number) for full access, though visitors can open basic accounts with a passport within 6 weeks of arrival. Full PayID registration requires a local account and Australian mobile number. Peanut removes these barriers — recipients will verify with any passport, no TFN or local bank account required.
How It Will Work
- 1
Sign up and verify
Create a Peanut account and complete identity verification with your passport. Takes under 2 minutes for most users.
- 2
Deposit funds
Fund your Peanut account via SEPA (free from Europe), ACH from the US, or send digital dollars from any major exchange.
- 3
Send to your recipient
Your recipient creates a Peanut account or receives funds to an existing one. Peanut-to-Peanut transfers arrive instantly.
- 4
Recipient accesses funds via NPP
The recipient transfers funds to any Australian bank account via NPP in real time, 24/7. PayID enables transfers using just a phone number or email.
What the Recipient Will Be Able to Do
Instant Transfers via NPP
NPP connects virtually all Australian banks and financial institutions for real-time account-to-account transfers, 24 hours a day, 7 days a week. Recipients will move funds from their Peanut account to any NPP-connected bank — Commonwealth Bank, Westpac, ANZ, NAB, regional banks, and credit unions — in seconds.
PayID Transfers
PayID is NPP's overlay service that lets people pay using a phone number, email address, or ABN (for businesses) instead of BSB and account numbers. Recipients will be able to send to anyone in Australia using just a phone number or email — easier and less error-prone than traditional bank details.
Bank Withdrawal
Direct withdrawal to an Australian bank account, converting digital dollars to AUD at the point of transfer. The NPP connection means settlement in seconds rather than the 1-3 business days typical of international bank transfers.
Who This Is For
British-Australian Diaspora
The large British-Australian diaspora drives one of the most active international transfer corridors. Family support, property management, and regular transfers add up. Traditional bank transfers on this corridor charge 1-3% in fees and take 1-3 days. Peanut will eliminate those costs and deliver funds through NPP in seconds.
Working Holiday Visa Holders
Australia's working holiday visa program attracts hundreds of thousands of young travelers from the UK, Europe, and Asia. They need to receive money from home and access it quickly through the local banking system. Peanut's NPP integration will give them instant access to Australian dollars without the hassle of traditional international wires.
Business and Trade
Australia's strong trade ties with the US, UK, and Asia generate significant cross-border payment flows. Peanut will provide a faster, cheaper alternative to SWIFT transfers for business-related payments, with NPP's real-time settlement replacing the 1-3 day bank transfer wait.
How Much Will It Cost?
Peanut charges no fees on any operation. The exchange rate converts digital dollars directly to AUD at a competitive market rate.
| Service | Fee | Exchange Rate | Recipient Gets |
|---|---|---|---|
| Peanut (planned) | $0 | Market rate | More AUD |
| Wise | ~$4-7 | Mid-market with markup | Less |
| PayPal | ~$5 + 3-4% | Below mid-market | Significantly less |
| Western Union | $5-15 | Worst rate | Least |
| Bank transfer (UK-AU) | 1-3% | Bank markup | Variable |
Sending from Specific Countries
Send Money from the United Kingdom to Australia
The UK-Australia corridor is one of the most active international transfer routes, driven by the large British-Australian diaspora, working holiday visa holders, and business ties. Traditional bank transfers on this corridor typically take 1-3 days with fees of 1-3%. When Peanut launches, UK senders will deposit via SEPA (free, most arrive in under 20 minutes) and send to Australia. The recipient accesses funds through NPP instantly.
Send Money from the United States to Australia
US-to-Australia transfers serve tourists, business travelers, and families with ties across the Pacific. US senders will deposit via ACH (free, 1-3 business days) or digital dollars from an exchange (arrives in minutes). The recipient in Australia then accesses funds through NPP in real time.
