BFX Australia international money transfers

BFX is a money transfer service for individuals or businesses, with over 200 currencies and countries available.

BFX is a dedicated international money transfer service that’s ideal for both individuals and businesses. It offers competitive exchange rates, low to no fees and over 200 currencies and countries available.

Product NameBFX Australia International Money Transfers
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Agent, Bank Account to Bank Account, International Money Order
Transfer OptionsRegular payments, One off payments, Market orders
Transfer Speed
Minimum transfer time
2 days
Banking PartnerBFX Australia
Customer ServicePhone, Chat, Email, Branch
Available CurrenciesAED, AUD, BDT, BHD, CAD, CHF, CZK, DKK, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KWD, LKR, MXN, NOK, NZD, OMR, PGK, PHP, PKR, PLN, SAR, SBD, SEK, SGD, THB, USD, VUV, WST, ZAR
Online Transfer Fee$10
Branch Transfer Fee$10
Phone Transfer Fee$10

BFX exchange rates

BFX displays live foreign currency calculators on its site with current interbank exchange rates. However, these are the interbank rates (sometimes called the real exchange rate) and not the exchange rates BFX offers.

BFX charges a nominal commission, or margin, on top of the interbank exchange rate in order to make a profit. However, the margin BFX charges is lower than that charged by the big banks for foreign currency conversion.

To access a quote for current exchange rates BFX offers, customers are required to register for an account. You’ll always have the opportunity to review the exchange rates that BFX quotes before confirming a transaction.

What are the fees when sending money with BFX?

There is a $10 service fee charged for each transaction when sending money internationally with BFX. The fee remains the same for transactions placed online, over the phone or in branch. It is also the same for all currencies, and is less than what the big banks charge.

Minimum transfer amount and available currencies

The minimum amount you can transfer is $250 and there is no cap, allowing you to send as much as you need. However, be mindful that transfers above $10,000 will often require additional documents and verification due to anti-money laundering regulations. Since the minimum transfer amount is $250, BFX’s service is well suited to individuals who need to transfer larger sums for business purposes.

Over 200 countries and currencies are available with BFX. The following currencies are available:

  • AED
  • AUD
  • BDT
  • BHD
  • CAD
  • CHF
  • CZK
  • DKK
  • EUR
  • FJD
  • GBD
  • HKD
  • HUF
  • IDR
  • ILS
  • INR
  • JPY
  • KES
  • KWD
  • LKR
  • MXN
  • NOK
  • NZD
  • OMR
  • PGK
  • PHP
  • PKR
  • PLN
  • SAR
  • SBD
  • SEK
  • SGD
  • THB
  • USD
  • VUV
  • WST
  • ZAR

What types of transfers does BFX offer?

BFX can facilitate international money transfers on behalf of individuals to small businesses and large corporations. BFX can conduct several different types of money transfers, including:

  • One-off payments. If you need to send money internationally only once, you can do this with BFX. There’s no need to commit to regular, ongoing transactions.
  • Regular payments. You can set up regular, recurring payments with BFX. This is helpful when making remittances like rent on international properties, or paying staff located overseas.
  • Market orders.This allows you to set your desired exchange rate, and BFX will facilitate your transaction when that exchange rate is reached. This is good for payments that aren’t overly time-sensitive.

Pros and cons of BFX

Pros

  • Ideal for individuals as well as businesses
  • Transparent fee structure
  • Can facilitate recurring transfers and market orders
  • Numerous countries and currencies available

Cons

  • Transfer fee is higher than other money transfer services
  • Minimum transfer of $250 required

How to transfer money internationally with BFX

You can register for an account online within minutes. You’ll need to fill out your personal details and provide information on the types of transactions you’re planning to make, including how much money you need to transfer and where you need it to go. Thereafter, a BFX consultant will contact you to finish your application and help set up your first transfer.

Note that during the application process you’ll need to verify your identity, so be sure to have your driver's license, passport or birth certificate handy. Plus, business clients will need to supply their business details including the registered name, ABN and the nature of the business.

Was this content helpful to you? No  Yes

International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantee to beat 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.

Exclusive: OFX (Ozforex) International Money Transfers

Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.

Exclusive: WorldFirst International Money Transfers

Chinese New Year Offer - receive $20 credit in your account (T&C's apply) Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.

FC Exchange International Money Transfers

FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question