Compare some of the best international money transfer services

How to get the most competitive rate, the lowest commission and the quickest international money transfers.

Are you looking for a way to send money overseas? We compare a number of financial institutions that offer some of the best deals on international money transfers in the market. Read on for tips about how to find the best deal you can get.

How to find the best exchange rate

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Exchange rate information is for the most part readily available online. Banks publish their rates daily and large financial institutions all have online calculators that make it easy to see what they’re offering. You’ll find it’s less than what you can get from a non-bank international money transfer service. Peer-to-peer (P2P) international payments can give you near the market rate; however, you’re still going to pay a margin on the rate plus a commission.

Best-rate guarantees and price promises

TorFX offers a best-rate guarantee on international money transfers. Just send a photo or a copy of a competitor's quote and TorFX will match it – up to the market rate. The sign-up process for TorFX is more involved than some other companies. For example, TransferWise lets you sign up using Facebook, but TorFX needs to see some paperwork before your registration is complete.

FC Exchange is another company with a price-match guarantee. To access the price-match deal, you need to provide FC Exchange with written evidence of the competitor's offer within 4 hours of having received it, which can be tricky as FC Exchange is based in the UK and operates during standard UK office hours. But if you happen to receive a more competitive offer within the window where FC Exchange is contactable from Australia, you could save a considerable sum off your transfer.

Bank and non-bank AUD / USD comparison


*10.51pm 25/04/16


Some online calculators quote the interbank rate and give you an example figure only. The actual rate you get is shown when you’re given a full quote.
How to get the best exchange rate

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How to find the lowest commission

There are money transfer companies that won’t charge you a commission, although these institutions may include a bigger margin on the exchange rate. Compare the exchange rate of the following no-commission international payment companies.

First transfer free

Low transfer fee

  • 1st Contact Forex gives you every fifth transfer for free. The usual fee on a transfer to the UK is just AUD$5.
  • TransferWise also gives a good rate and charges less than AUD$10 for international money transfers.
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Free global transfers using Citibank Plus

If you have a Citibank Plus Transaction Account, you can make free international money transfers to Citibank accounts in about 20 countries. Citibank offers slightly better rates than other financial institutions but still less than non-bank money transfer companies.

No commission international money transfers

How to find the transfer speed you want

Many of the money transfer companies we compare can send money overseas at a good rate and a good price, but the process will take a couple of days. It will take even longer still if you’re paying for the international transfer using BPAY.

There are three companies that can send money overseas that is ready to collect in just minutes. If you need to get emergency cash overseas quickly, WorldRemit, Western Union and MoneyGram are the companies to compare. They have the highest transfer fees and you can find a better rate elsewhere; however, Western Union and MoneyGram have hundreds of thousands of cash collection points all over the world.

International cash payment companies.

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How to find the money transfer features you want

Different companies have different strengths. For example, Western Union is good for speed and accessibility and not so good on fees; whereas a company such as TorFX or HiFX can help with purchasing overseas property and immigrating to another country.

If you’re looking for more transfer options, such as market and limit orders, you can have a look at these companies.

  • TorFX
  • 1st Contact Forex
  • Moneycorp
  • FC Exchange
  • Currency Online
  • Currency Solutions
  • Compass Global Markets
  • HiFX
  • WorldFirst
  • OFX

If you’re looking for business international money transfer services, you can consider these companies.

  • 1st Contact Forex
  • TorFX
  • Compass Global Markets
  • Currency Online
  • HiFX
  • WorldFirst
  • OFX
  • TransferWise
  • PayPal

Compare business international money transfers

If you want to make regular international money transfers, you can have a look at these companies.

  • TorFX
  • OFX
  • Currency Online
  • Currency Solutions
  • Compass Global Markets
  • HiFX

Make regular international money transfers.

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Where are you sending money to?

Read specific information to find the best way to send money to different countries on this page. From Afghanistan to Zimbabwe, find out which companies support which currencies as well as Western Union locations and more.

How to compare international money transfer companies

  • Transfer fee. The price of the international money transfer.
  • Exchange rate. The rate of exchange between Australian dollars and the foreign currency.
  • Transfer speed. The time it takes for the money to reach the recipient. Transfer time ranges from minutes to half a week.
  • Payment methods. Can you pay using your credit card, debit card or BPAY? BPAY payments take a number of business days to clear.
  • Collection options. Do you have the choice of collecting the money as cash or having it deposited into a bank account?
  • Customer service. Can you contact a customer service representative if you have a question about your international money transfer?

If you have any questions about comparing international money transfer companies, get in touch with us using the form below.

This article discusses how to get the best exchange rates while sending money overseas. The use of the term "best" does not refer to product ratings and are subject to our disclaimer. Exchange rates mentioned in this article are validated at the time of publishing and may vary with time.

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International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantee to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

OFX (Ozforex) International Money Transfers

Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

WorldFirst International Money Transfers

Access live rates, currency converter and market updates via the WorldFirst Money Transfer mobile app. No transfer fees for personal or business customers.

FC Exchange International Money Transfers

FC Exchange will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

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4 Responses

  1. Default Gravatar
    December 21, 2017

    i want to transfer 5000 aud into euro to a bank in berlin Germany

    what are the charges by bank here and in berlin

    • Staff
      HaroldDecember 22, 2017Staff

      Hi Andy,

      Thank you for your inquiry.

      If you wish to send a money to Germany you may want to consider the options here.

      I hope this information has helped.


  2. Default Gravatar
    annetAugust 10, 2016

    Is it possible to use a credit card to pay an invoice in US$ and how does that compare in costs?

    • Staff
      ShirleyAugust 10, 2016Staff

      Hi Annet,

      Thanks for your question.

      If the invoice accepts international money transfers directly, then it should be possible to pay from your credit card.

      In terms of cost, the transaction might be treated as a cash advance which means you could get charged more interest plus a cash advance fee. It’s best to check with your credit card provider directly to enquire about how the transaction will be treated.

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