Question 1

How do we know if an exchange is legitimate?

Accepted Answer

To check the status of an exchange, you can search for its name in the AUSTRAC register via the link below and verify its registration or licensing status. If the exchange name does not appear in the search results, it is likely not registered with AUSTRAC and cannot be legally verified.
https://online.apps.austrac.gov.au/rsr

Question 2

What is AUSTRAC?

Accepted Answer

AUSTRAC (Australian Transaction Reports and Analysis Centre) is an Australian government agency and financial intelligence unit responsible for supervising the financial system and combating financial crime.

Question 3

What is an official exchange receipt and what features does it have?

Accepted Answer

In addition to general transfer details (sender, recipient, amount and rate), an official exchange receipt must include a Reference Code issued by AUSTRAC. This code shows that your transaction has been reported to AUSTRAC and is considered a lawful transaction. With this code, you can prove that your transfer was legal.

Question 4

What is a white transfer and how is it different from other transfers?

Accepted Answer

A white transfer is the opposite of a black transfer. It is a colloquial term meaning the transfer was completed legally through an official exchange. All transfers at NeoEx are white and legal.

Question 5

Are the rates on the website up to date?

Accepted Answer

Yes, the rates on the website are updated around the clock.

Question 6

How much is the transfer fee through NeoEx?

Accepted Answer

Remittances from Iran to Australia have no fee. Only Australia-to-Iran remittances have fees, as follows:
● Above $5,000: no fee
● Between $1,000 and $5,000: $25
● Under $1,000: $30

Question 7

How can I receive an exchange receipt or invoice?

Accepted Answer

Through your user profile on the NeoEx website, remittance history and invoices are each available to view.

Question 8

What documents are needed for a currency remittance?

Accepted Answer

Recipient information in Iran and the payer’s documents in Australia, as described in the Documents and Information section.

Question 9

How long after finalising the transaction will the money reach the account in Iran?

Accepted Answer

Between 4 and 5 Iran business days.

Question 10

Are transfers through NeoEx legal?

Accepted Answer

Yes. All transactions are carried out under the supervision of Australian legal authorities.

Question 11

Is the remittance rate guaranteed?

Accepted Answer

Yes. Completing the remittance at the agreed rate is fully guaranteed.

Question 12

How is the conversion rate calculated for currencies other than AUD in Iran?

Accepted Answer

NeoEx experts calculate and announce the transaction rate based on global rates and the parity between the Australian dollar and the relevant currency.

Question 13

What is different about transferring from a company account?

Accepted Answer

For remittances through a company or trust account, a corporate account is created on the NeoEx website and documents from the authorised signatories (Directors) are collected.

Question 14

What is the best way to contact you?

Accepted Answer

Using the options on the website, you can message our experts through various channels and they will respond as soon as possible.

Question 15

Can I send money from Iran before opening an account with Australian banks?

Accepted Answer

Yes. In that situation your exchange account is created and the amount is credited to your personal wallet. Whenever you provide your bank account number, the funds are transferred to your account. For more information about the NeoEx wallet and its benefits, contact our experts.

Question 16

Are buy and sell rates fixed for all amounts?

Accepted Answer

As one of Australia’s largest exchanges, NeoEx is committed to providing transparent rates regardless of the remittance amount. In some cases special rates may be offered, and those rates are announced through the NeoEx website and social networks.

Question 17

What documents are needed for a remittance from Iran to Australia?

Accepted Answer

Recipient information in Iran, including details and the reason for transfer, and the payer’s documents in Australia are required, as described in the Documents and Information section.

Question 18

How long after finalising the order will the money reach my account in Australia?

Accepted Answer

Between 24 and 48 business hours.

Question 19

What is the minimum and maximum transferable amount?

Accepted Answer

There is no limit on the remittance amount from Iran to Australia.

Question 20

Do you provide special consultation for large amounts (property and asset sales)?

Accepted Answer

Yes. If you have questions about your remittance and how to proceed, you can use NeoEx consulting services.

Question 21

Can transferring money for Iranian students in Australia cause problems?

Accepted Answer

No. You only need to provide the required documents, such as source of funds, correctly.

Question 22

Is tax applied to amounts transferred to Australia?

Accepted Answer

The best way to answer this is to consult your accountant. If you need general preliminary information, our NeoEx team can also provide initial guidance.

Question 23

Is there a fee for sending money from Iran to Australia?

Accepted Answer

No. Remittances from Iran to Australia are not charged a fee.

Question 24

What documents are required for currency transfer?

Accepted Answer

In general, two types of documents are required for a remittance:
● One primary document: driver licence or passport
● One secondary document: Medicare card, visa, Photo ID, or Proof of Address
A selfie with the driver licence or passport must also be provided.

Question 25

What information is required to send money from Australia to Iran?

Accepted Answer

Recipient information in Iran includes:
● Name
● Account number
● Bank name
● Address
● Iranian mobile number
● Reason for transfer
The payer’s documents in Australia are also collected as described in the previous question.

Question 26

What information is required to send money from Iran to Australia?

Accepted Answer

Information required for receiving in Australia:
● BSB number
● Account number
● Bank name
● Recipient name
● Sender information in Iran also includes name, address, mobile number, and reason for transfer.
Recipient documents in Australia are also collected according to the first item.

Question 27

How do I know my documents remain confidential with NeoEx?

Accepted Answer

Your documents are stored in the company database, which uses secure and trusted services from major cloud providers, and their security is guaranteed. Only management has access to them.

Question 28

Why are my details not approved after I submit them in my account?

Accepted Answer

There can be several reasons for this. One of the most common is incorrect extraction of card details. In that situation, you can still register your remittance, and our NeoEx team will then proceed to verify your user account.

Question 29

If I have an Australian passport, can I use my Iranian passport?

Accepted Answer

No. If you hold both passports, your documents must be system-verified with your Australian passport.

Question 30

What is Source of Fund and why must it be provided?

Accepted Answer

Under AUSTRAC requirements, proof of source of funds is mandatory for some transactions. This document must show the primary source of the amount being transferred. Where Source of Fund is requested, if the source is salary a bank statement is usually enough; if it is another source such as a loan, insurance, or sale of an asset, documents related to that primary source are also required in addition to the bank statement.
More information on the AUSTRAC website

Question 31

I am not sure whether I already have a NeoEx account.

Accepted Answer

You can enter your mobile number or email when logging into the website and access your account with the code sent to you. If you do not receive the code, you most likely need to create a new account or contact our NeoEx experts.

Question 32

Is it possible to send or receive remittances to other countries?

Accepted Answer

Yes. Please contact our experts to coordinate.

Question 33

Is it possible to buy and sell digital currency?

Accepted Answer

Yes. Remittance transfers via Tether (USDT) are available.

Question 34

Is it possible to send remittances to other Australian institutions?

Accepted Answer

Yes. NeoEx can deposit to many Australian institutions; please contact our team.

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