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Best international money transfer companies
We found the best companies for 4 different types of international money transfers.
Guides
Exchange Rates
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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
Top pick for
Business transfers
How we chose these services
Top picks are our selection of some of the best money transfer products and services on Finder, but we haven't compared every brand in the market. We've included them on some pages to help you make decisions faster, but keep in mind that our top pick may not always be the best fit for you. Read our full methodology here to find out more.Which transfer company should I choose?
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.
Best for large transfers: TorFX
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.
What we like
- Fee-free transfers.
TorFX makes money from the margin added to the exchange rate, but you won't be charged any extra fees.
- Price-match guarantee.
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.
- Forex tools.
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.
What to watch out for
- Limited currencies.
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.
- Only allows bank-to-bank transfers.
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.
- Best for transfers over $2,000.
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?
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Best for sending small amounts: XE
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.
What we like
- No fees on transfers.
XE doesn't charge any transaction fees, commissions or ongoing fees to keep your account open.
- Competitive rates.
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.
- Fast transfers that can be sent 24/7.
Because XE allows online orders you can send money any time, and international money transfers are often received on the same day.
What to watch out for
- Limited currencies.
XE doesn't support all major markets, so be sure to check that the destination you want to send to is supported.
- Only allows bank-to-bank transfers.
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.
- No cash pick-up.
XE transfers must be delivered to a bank account, your recipient cannot choose to pick up cash when receiving the transfer.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Best for fast transfers: Remitly
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.
What we like
- Express option sends money in minutes.
Your recipient will receive money almost instantly if you pay by card. Keep in mind, there is an additional fee for this service.
- No verification process for small amounts.
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.
- Cash pick-up and delivery available.
In some countries, you can send to a cash pick-up location or even right to your recipient's door.
What to watch out for
- You have to be approved to send more money.
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.
- Higher fees for the express service.
It'll be fast, but you'll have to pay for it.
Other providers that offer emergency money transfers
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Best for cash transfers: Azimo
Why Azimo? Azimo offers the best exchange rates to more countries out of the companies we compared. New members can also get their first two transfers for free.
The table below can show you what your Azimo transfer might look like. You can also read more about how Azimo works in our review.
What we like
- Competitive exchange rates.
While MoneyGram and Western Union are well-known for cash pick-ups, Azimo 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.
- Fast transfers.
Cash picks ups are ready within an hour. For other methods, Azimo transfers take up to a working day on average.
- Good for small transfers.
Azimo's minimum transfer is GBP£10, making it ideal for sending smaller amounts.
What to watch out for
- Low maximum transfer amount.
The maximum amount you can send depends on your delivery method but for card payments it's GBP£12,000. SWIFT transfers are limited to GBP£250,000.
- Delivery methods may be limited.
Not all transfer options are available to all countries. You'll need to visit the Azimo website to see which transfer methods are available for your destination.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Best for business transfers: Airwallex
Why Airwallex? Airwallex can help you make business payments to 23+ currencies using competitive interbank rates and no fees for most transfers. There's also a multi-currency business account which lets you hold over 11 different currencies. Xero integration helps makes sure your books are always up to date.
The table below can show you what your Airwallex transfer might look like. You can also read more about how Airwallex works in our review.
What we like
- Competitive exchange rates.
Airwallex helps its business customers access interbank exchange rates and aims to find the most cost-effective payment routes for each transfer.
- Flexible solutions.
You can pick and choose whether you just want to receive payments, make payments or exchange currency, or set up an entirely new payments platform.
- Developer API.
The Airwallex developer API lets businesses automate payments through the Airwallex platform.
What to watch out for
- May not suit one-off payments.
Other providers might better suit businesses that only need to make ad hoc payments.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Still looking for other options?
Check out the table below to see some other money transfer specialists and what they can offer.