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Review: Aussie Forex & Finance international money transfers

Find out all the essential info about international money transfers with Aussie Forex & Finance, including fees, exchange rates and transfer times.

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Quick verdict

Good for
  • Multiple payout methods
  • Competitive exchange rates
  • Australia-based service
Not so great for
  • Smaller transfers
  • Site experience
  • Online information

Aussie Forex & Finance exchange rates and fees

Aussie Forex & Finance usually offers better exchange rates than the banks and updates its rates as they fluctuate throughout the day. If you're sending $10,000 or more, you also have the option to lock in an exchange rate for up to 2 nights.

Aussie Forex & Finance also charges a flat transaction fee on all transfers. This fee is usually $15, but drops to $10 for transfers to India, Bangladesh, Sri Lanka, Nepal, Fiji and some European countries. Transfers of $200 or more to Pakistan do not incur any fees.

Available currencies

Aussie Forex & Finance offers transfers in the following currencies:

  • BDT Bangladeshi taka
  • INR Indian rupee
  • IDR Indonesian rupiah
  • LKR Sri Lankan rupee
  • MYR Malaysian ringgit
  • NPR Nepalese rupee
  • PHP Philippine peso
  • PKR Pakistani rupee
  • SGD Singapore dollar

What types of transfers can you make with Aussie Forex & Finance?

Aussie Forex & Finance supports the following transfer types:

  • Cash payment. You can send a cash transfer which your recipient can collect over the counter at one of Aussie Forex's transfer partners. However, there's no information on the company's website about the size of its transfer network or where cash collection points are located.
  • Bank account deposit. You can send a transfer directly to your recipient's bank account.
  • Home delivery. In some countries, the funds you send can be delivered to your recipient's home address.

How long does a transfer with Aussie Forex & Finance take?

Transfer times vary depending on the type of transfer you send and where you're sending money. However, Aussie Forex & Finance claims:

  • Cash payment transfers are typically made on the same day
  • Online bank account transfers can take two to three working days
  • Sending funds to a non-online account may take three to seven working days

Which payment methods does Aussie Forex & Finance accept?

You can pay for your transaction using the following methods:

  • Bank transfer
  • Cash
  • Cheque

Is Aussie Forex & Finance safe to use?

  • Security and regulation: Regulated in Australia by ASIC
  • Established: 2005
  • AML/CTF: Australian Financial Services Licence holder

Aussie Forex & Finance is registered by the Australian Securities & Investments Commission (ASIC) and holds an Australian Financial Services Licence. It's also registered as a remittance provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and has policies in place to meet Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) requirements.

In addition, the company claims that access to its online transfer service is provided through a secure web browser with encryption technology to prevent unauthorised access of your data.

How does Aussie Forex & Finance make money?

Aussie Forex & Finance makes money in two ways:

  • By adding a margin on top of the mid-market exchange rate. The mid-market rate is the one you see quoted on Google and currency conversion sites like XE.
  • By charging transaction fees.

How to register an account

How do I make an international money transfer with Aussie Forex & Finance?

There are two ways to send an international transfer with Aussie Forex & Finance. The first is to visit one of Aussie Forex & Finance's offices (located in Sydney and Perth), fill out a customer registration form, provide proof of ID and verify your address.

The second way is to submit your transfer request online through the Aussie Forex & Finance website. You can do this by:

  1. Logging in to your account.
  2. Specifying the amount and currency you want to send.
  3. Providing your recipient's name and bank account details.
  4. Paying for your transaction with an Internet banking transfer.

What is Aussie Forex & Finance?

Aussie Forex & Finance is an international money transfer provider based in Australia. Established in 2005, it now has an office in the Sydney CBD as well as an office in Perth. As a licensed remittance provider, the company aims to offer a secure and reliable overseas transfer service to suit individuals and businesses.

In a nutshell

Pros

  • Competitive exchange rates. Aussie Forex & Finance offers competitive exchange rates which are typically better than those you can get from your bank. Compare the provider's rates with those from other transfer services to see how they stack up.
  • Multiple transfer and payout options. You can send your transfer online or in person and your recipient can access the funds via bank transfer or cash pick-up. Draft delivery is also available in some countries.
  • Australian company. Aussie Forex & Finance is based in Australia and has offices in Sydney and Perth.

Cons

  • Flat fees. A flat fee applies to most transfers, so you may find cheaper fees with other transfer services, especially if sending a small amount.
  • Poor website. The Aussie Forex & Finance website looks a little dated and doesn't offer the same user-friendly experience as some other online transfer services.
  • Limited information. There's limited information available on the Aussie Forex & Finance website about the process for sending an online transfer.

How does Aussie Forex & Finance compare to other providers?

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 20 of 23
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
TorFX
24 hours
$0

View details
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Send Payments
24 hours
$0

View details
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
HSBC International Money Transfers
24 hours
From $8

View details
Get real time exchange rates when markets are open with flat $8 fee for online international transfers.
Western Union
Within minutes
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
OFX
24 hours
From $15

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
XE Money Transfers
Within minutes
$0

View details
XE has fast transfers with low fees and a range of foreign currency tools.
TorFX
24 hours
$0

View details
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Send Payments
24 hours
$0

View details
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
SingX
Within minutes
0.45%

View details
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Wise (TransferWise)
24 hours
From 0.35%

View details
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Instarem
Within minutes
From 0%

View details
Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.
Remitly
Within an hour
From $2.99

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
CurrencyFair
Within minutes
From $0

View details
Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
WorldRemit
Within minutes
$1.99
SPECIAL OFFER ✓ Use the code ‘4FREEFINDER’ to get 4 free transfers if you are a first time user. Eligible countries only.

View details
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
MasterRemit
Within minutes
From $1

View details
Send money in minutes at competitive exchange rates with this Australian money transfer service.
SingX For Large Transfers
Within minutes
0.45%

View details
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
WorldFirst Business Transfers
WorldFirst Business Transfers
24 hours
From $0

View details
All new customers who send more than AUD$10000 in June and July are eligible to receive a $300 Woolworths gift card. Conditions apply.
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Airwallex
Within minutes
$0

View details
Airwallex can help you make business payments to 23+ currencies using competitive interbank rates and no fees for most transfers.
TorFX Business Transfers
24 hours
$0

View details
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Send business
Within minutes
$0

View details
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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