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FlashFX international money transfers review

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Send money overseas quickly and securely with FlashFX and pay no transaction fees.

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FlashFX is an Australian international money transfer company, offering international transactions with no transaction fees and without compromising on security. FlashFX is regulated by the Australian Securities and Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC).

AUD 200

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed

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Details

Product NameFlashFX International Money Transfers
Min. Transfer AmountAUD 200
Max. Transfer AmountNo limit
Transfer MethodsOnline, 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, CAD, CHF, CNY, DKK, EUR, GBP, HKD, INR, JPY, MXN, NOK, NZD, SEK, SGD, THB, USD, ZAR
Online Transfer FeeAUD 0
Branch Transfer FeeAUD 0
Phone Transfer FeeAUD 0

FlashFX exchange rates

FlashFX offers real-time exchange rate quotes on its website, so you’ll always know what exchange rate you’re being offered before deciding to book a transfer. FlashFX does charge a slight margin (or a commission) on top of the mid-market exchange rate, which is how the company makes a profit, however this margin is smaller than what the banks charge.

For example, FlashFX says the highest margin it charges is 1.80% on top of the mid-market exchange rate, while the standard margin is usually around 1.48%. In comparison, the banks can charge a margin over 5.00% on top of the mid-market rate.

How much does it cost to transfer money with FlashFX

FlashFX prides itself on being transparent – so rest assured there are no hidden charges. You won’t be charged any set up fees or transaction fees when sending money abroad using FlashFX. However, you will pay a margin, or a commission, on top of the mid-market bank rate as explained above. This margin will be clearly outlined when you seek a quote.

Minimum transfer amount and available currencies

The minimum transfer amount is $200 for the majority of currencies. If you’re transferring money into EUR or USD, FlashFX will accept a minimum transaction of just $100.

You’re able to send money in 17 major global currencies. Available currencies include:

  • AUD
  • AED
  • CAD
  • CHF
  • CNY
  • DKK
  • EUR
  • GBP
  • HKD
  • JPY
  • MXN
  • NOK
  • NZD
  • SEK
  • SGD
  • USD
  • THB
  • ZAR

What types of transfers can you carry out with FlashFX?

  • One-off payments. If you need to send a one-off payment to someone internationally, FlashFX can help you do this.
  • Regular payments. FlashFX can facilitate regular, recurring payments such as monthly rental payments or weekly transfers to family members who are based internationally.
  • Market orders. Set your desired exchange rate, and FlashFX will facilitate your transaction when that rate is reached. This is good for payments that aren’t urgent, as you can afford to wait for a better rate.

What payment options are available?

The only way to send money to FlashFX to fund your transfer is via a bank transfer. This must be made from an existing bank account that is registered in your name, and it will work in the same way as a regular bank transfer. FlashFX does not accept cash or cheques, or debit or credit cards as payment to fund your account. It will not accept third-party deposits either, made from someone else into your account. Flash FX does accept transfers made via Ripple wallets.

The registration and transfer process

  1. Sign up. Sign up for an account online using your email. You can do this by clicking the green “Go to Site” button.
  2. Verify your identity. You’ll need to upload some photo ID such as your driver's license, and something that includes your residential address in Australia such as a utility bill. FlashFX will open your account as soon as your details are verified.
  3. Fund your account. Send money to your FlashFX account via a bank transfer from your current bank account. You don’t need to book a transfer straight away, FlashFX will hold your money securely for you until you need to transfer it.
  4. Book your transfer. Tell FlashFX how much you need to send, to where and to whom. You’ll need to supply your recipient's bank details.
  5. Track your transfer. You can track the progress of your transfer via the FlashFX dashboard. Some transfers will be done instantly.

Pros and Cons

Pros

  • No transaction fees
  • Clear, transparent pricing
  • Lightning fast transfers using the Ripple payment platform

Cons

  • Only 17 currencies supported currently
  • Will not accept debit or credit card payments to fund account

How does FlashFX compare to other services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.71 USD
7,099
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send 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 0.71 USD
7,099
SendFX 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 0.71 USD
7,099
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.71 USD
7,099
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
GBP 3,000 1 day AUD 0.00 0.71 USD
7,099
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
AUD 1 1 day AUD 52.00 0.709 USD
7,055
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 0 Same day AUD 2.99 0.705 USD
7,047
Special offers like free transfers and better exchange rates available for new customers.
Affordable transfers around the world with both express and economy options. Express transfers delievered in as little as 10 minutes for an extra fee.
Go to site Show details
AUD 1 Same day AUD 0.00 0.709 USD
7,092
Get 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 0.712 USD
7,085
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
Quick and simple international money 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 0.706 USD
7,054
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.704 USD
7,039
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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.

International Money Transfer Offers

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

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

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

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

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

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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