BFX Money Transfer review – Fees, rates & safety | Finder

BFX Money Transfer review

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Learn how to send fee-free international transfers in more than 30 currencies with BFX Money Transfer.

  • Good for a wide range of products beyond sending money overseas, including purchasing travel money and online seller accounts.
  • Not so great if you want to send under the minimum of $2,000.

AUD 2,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed

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Details

Product NameBFX International Money Transfers
Min. Transfer AmountAUD 2,000
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Agent, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Chat, Email
Available CurrenciesAED, AUD, BDT, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, LKR, MXN, MYR, NGN, NOK, NPR, NZD, PHP, PKR, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, VND, ZAR
Exchange Rate UpdatesReal time
Online Transfer FeeAUD 0
Phone Transfer FeeAUD 0

BFX Money Transfer exchange rates and fees

BFX Money Transfer updates its exchange rates regularly in line with market fluctuations. It adds a margin on top of the mid-market exchange rate before converting your AUD into a foreign currency for your transfer. You can see the latest rate by requesting a quote on the BFX website; however, you'll need to provide your name, email address and phone number to do so.

Aside from the exchange rate margin, BFX doesn't charge any other transaction fees.

Calculate how much sending money overseas would cost with BFX Money Transfer by using our tool below. You can also check out the real-time exchange rate BFX Money Transfer offers and if there are any additional fees.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.77 USD
7,703
BFX can help you send fee-free transfers to 30+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Available currencies

BFX Money Transfer offers international transfers to more than 200 countries. It supports more than 30 currencies including the following:

  • BDT Bangladeshi taka
  • CAD Canadian dollars
  • CNY Chinese yuan
  • EUR euro
  • GBP British pound
  • INR Indian rupee
  • NZD New Zealand dollar
  • USD US dolla

You can check out the full list of supported currencies above.

What types of transfers can you make with BFX Money Transfer?

BFX Money Transfer allows you to send money from Australia directly to your recipient's overseas bank account. You can submit your transfer request using the following methods:

  • Online
  • Over the phone
  • Via the BFX Money Transfer app
  • In person (by appointment only)

You can send a one-off payment with BFX or set a rate alert so that you will be notified when the exchange rate you want becomes available.

How long does a transfer with BFX Money Transfer take?

While transfer times can vary depending on where you're sending money, BFX Money Transfer claims that most transactions are completed within 24 hours.

What payment methods does BFX Money Transfer accept?

You can pay for your transfer using the following methods:

  • Bank transfer
  • POLi payments

Cash is accepted for travel money purchases only.

Transfers typically takeClock icon for transfer speed

1 day

Is BFX Money Transfer safe to use?

  • Security and regulation: Regulated in Australia by ASIC and AUSTRAC.
  • Established: 2016.
  • Reviews: Trustpilot TrustScore of 8.5/10 based on 14 reviews.
*According to BFX Money Transfer and Trustpilot on 20 August 2019.

BFX Money Transfer is operated by BFX Australia Pty Ltd. Registered in Sydney and regulated by the Australian Securities & Investments Commission (ASIC). The company is also regulated as a designated remittance provider by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

BFX also claims to offer the highest level of security on all online transactions, with each transaction checked by the company's system to ensure that you're protected from fraud.

How does BFX Money Transfer make money?

BFX Money Transfer makes a profit by adding a margin on top of the mid-market exchange rate. The mid-market rate is the "real" exchange rate you see listed on currency conversion websites and reflects the price at which banks and money transfer services buy and sell foreign currency from each other.

How to register an account

You can sign up for an account with BFX Money Transfer by completing a few simple steps.

How do I make an international money transfer with BFX Money Transfer?

You'll need to complete the following steps to send an overseas transfer:

  1. Log into your BFX Money Transfer account.
  2. Enter the amount you want to send and in what currency before clicking "Continue".
  3. Add your recipient's details, including their name, contact information and relationship to you.
  4. Review the exchange rate that will apply to your transaction.
  5. Pay for your transfer.
  6. Submit your transaction.

What is BFX Money Transfer?

BFX Money Transfer is run by BFX Australia Pty Ltd, an Australian foreign exchange business headquartered in Sydney. Founded in 2016, the company aims to offer simple and affordable international transfers. BFX also offers foreign exchange services to customers looking to buy travel money and has a branch located in Miranda in Sydney's south.

In a nutshell

Pros:
  • No transaction fees. BFX Money Transfer allows you to send funds overseas without paying any transaction fees.
  • Wide range of supported currencies. You can send an international transfer with BFX in more than 30 currencies.
  • Also offers ecommerce accounts and foreign exchange services. If you want to purchase travel money or manage your online sales as an ecommerce seller, BFX also offers products to suit.
Cons:
  • Only for transfers of $2,000 or more. If you want to send an amount less than $2,000 overseas, you'll need to look elsewhere.
  • Limited company information available online. There's not much information about the history of BFX or the people behind the company on its website.

How does BFX Money Transfer compare to other providers?

To find out how BFX stacks up against the competition, enter the details of your transaction into the calculator below.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.768 USD
7,680
Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.77 USD
7,701
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.771 USD
7,711
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.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.77 USD
7,702
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.77 USD
7,703
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 1 1 day AUD 52.00 0.77 USD
7,655
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.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.765 USD
7,647
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.
Go to site Show details
AUD 1 Same day AUD 0.00 0.77 USD
7,695
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.773 USD
7,686
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.766 USD
7,655
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.764 USD
7,638
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.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.773 USD
7,699
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Frequently asked questions

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

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.

Logo for Send International Money Transfers
Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

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