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Looking to get the best rates and lowest fees when sending money out of Australia? With so many options, there isn't one best service for everyone.
To help you make a decision, we've done the hard work for you. We examined the fees, features and exchange rates of more than 30 companies to see which ones came out on top, from your local bank to the money transfer specialists.
Top pick for
Large transfers
Top pick for
Small transfers
Top pick for
Fast transfers
Top pick for
Cash transfers
The best company for you depends on what you're looking for. These are the most popular features people are after and our 2021 picks for the best service. You can read more about each of them, and why we chose them, further down the page.
Why TorFX? TorFX offers fee-free transfers and has a price-match guarantee on its exchange rate, making it very competitive. It's good for sending large amounts because there's no maximum limit. You'll also get access to plenty of forex tools. Use the table below to see how much TorFX could cost you for your next transfer or read our full review.
TorFX makes money from the margin added to the exchange rate, but you won't be charged any extra fees.
If you get a better quote from another company, TorFX will price-match it. This is handy if you're worried about the margin added to the exchange rate.
You can create forward contracts to lock in today's exchange rate or a limit order so your money will only be transferred when your preferred rate is reached.
TorFX offers a lot of major currencies like the Philippine peso and the US dollar, but is missing other popular currencies like the Chinese yuan.
This means you won't be able to pay for the transfer by card and your recipient will need a bank account to get the money.
You'll get the most out of your transfer with TorFX if you're sending over $2,000, since the exchange rates get better the more you send. If you're sending less than that, you might want to look elsewhere.
Do I need to be worried about tax and regulations when sending large amounts of money overseas?
Why XE? XE, most well-known for being the place to check exchange rates, offers international money transfers in more than 40 different currencies. XE doesn't charge any fees and offers competitive exchange rates, which makes it one of the best international money transfer companies for sending smaller transfers around the globe.
What makes XE even more appealing is the $1 minimum transfer amount and decades of operation, so you know your money will reach its destination, no matter how small the transfer. To get an idea of how much your transfer with XE could cost use our comparison calculator below or learn more about how it works in our XE review.
XE doesn't charge any transaction fees, commissions or ongoing fees to keep your account open.
When sending a transfer with XE you'll be offered a competitive rate slightly above the mid-market rate. XE often shows what banks would charge for the same transfer to give you an idea of how XE stacks up against the competition.
Because XE allows online orders you can send money any time, and international money transfers are often received on the same day.
XE doesn't support all major markets, so be sure to check that the destination you want to send to is supported.
This means you won't be able to pay for the transfer by card and your recipient will need a bank account to get the money.
XE transfers must be delivered to a bank account, your recipient cannot choose to pick up cash when receiving the transfer.
Why Remitly? While there are other services that provide lightning-fast transfers – like Western Union or MoneyGram – they tend to add more fees to your transfer, so we wouldn't recommend them as the first place you look at.
The table below can show you what your transfer with Remitly might look like. You can also check out our full review.
Your recipient will receive money almost instantly if you pay by card. Keep in mind, there is an additional fee for this service.
If you're sending under $2,999, you won't need to provide any ID or wait for Remitly to verify you the first time you make a transfer.
In some countries, you can send to a cash pick-up location or even right to your recipient's door.
Remitly works on a tier system, so if you want to send more than $2,999 there are a few more hoops you'll have to jump through.
It'll be fast, but you'll have to pay for it.
Other providers that offer emergency money transfers
Why WorldRemit? WorldRemit offers the widest range of delivery options out of the companies we compared. It also sends money to a lot more countries than the industry average, putting it a step above its competitors.
The table below can show you what your WorldRemit transfer might look like. You can also read more about how WorldRemit works in our review.
While MoneyGram and Western Union are well-known for cash pick-ups, WorldRemit generally offers a better exchange rate. This is because of the margin other companies add to the mid-market rate, which can be whatever they decide to cover their own fees.
You can send to your recipient's mobile wallet, a cash pick-up location near them or even to their door in some countries.
WorldRemit has no minimum transfer amount.
For bank account transfers, you can send up to $50,000, but if you're paying by card, you won't be able to send more than $5,000 at a time.
If you want to send to a cash pick-up location, mobile wallet or bank account, make sure WorldRemit allows it for your destination.
Check out the table below to see some other money transfer specialists and what they can offer.
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i want to transfer 5000 aud into euro to a bank in berlin Germany
what are the charges by bank here and in berlin
Hi Andy,
Thank you for your inquiry.
If you wish to send a money to Germany you may want to consider the options here.
I hope this information has helped.
Cheers,
Harold
Is it possible to use a credit card to pay an invoice in US$ and how does that compare in costs?
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.