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Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.713 USD
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.
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AUD 2,000 1 day AUD 0.00 0.713 USD
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.713 USD
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
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AUD 1 1 - 2 days AUD 45.00 0.716 USD
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 1 Within an hour AUD 3.99 0.712 USD
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.713 USD
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
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AUD 1 1 day AUD 0.00 0.712 USD
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.715 USD
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
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The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Updated April 20th, 2019
Name Product Minimum Opening Deposit Major Trading Instruments Commission (ASX 200 Shares) Platforms
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs, International futures
No commission
Plus500 Web Trader
Bonus offer: Receive a welcome bonus of up to $10,000 on your first deposit. Minimum bonus is $80 for deposits $300 and over. T&C's apply.
Trade Australian and international CFDs on shares, forex, indices, commodities and more.
Indices, FX, Shares, Commodities, Cryptocurrency, ETPs
0.08% with $7 minimum
MetaTrader 4
ProReal Time
Introductory offer: Build confidence by trading at lower minimum trade sizes for the first six weeks. Plus, receive a reduced commission on Australian shares CFDs. T&C's apply. Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
Indices, FX, Shares, Commodities, ETFs
0.10% with $6 minimum
More than 9,000 CFDs including single stocks, stock indices and commodities
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs
No commission
eToro Trading Platform
Join the largest social trading network in the world.
Indices, FX, Shares, Commodities, ETFs
0.08% with $5 minimum
MetaTrader 4
At Pro
Advantage Web
Trade CFDs on indices, FX, global & Australian shares and commodities, plus access other markets such as metals, bonds and interest rates.
Indices, FX, Commodities, Cryptocurrency
No commission
MetaTrader 4
MetaTrader 5
Trade stock indices on the global market, via Pepperstone's MetaTrader 4 and cTrader client terminals.
Indices, Shares, Equities, Commodities, Futures
0.10% with $10 minimum
Trade CFDs with FP Markets using the IRESSTrader platform. Trade CFDs on international equities, futures and forex.

Compare up to 4 providers

The latest in foreign exchange

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International money transfers

About foreign exchange

ForeignexchangeForeign exchange refers to the act of changing one nation’s currency into another nation's currency. Today, foreign exchange, otherwise known as Forex or FX, can refer to a few different aspects of dealing with international currencies. It can refer to trading currencies, where investors will buy and sell different currencies trying to make a profit largely in the same way as a stock trader would, and it can also apply to simple exchanges of currencies for personal or business use. Foreign exchange can be particularly important if you live or have family overseas, invest in a foreign country, or have clients or suppliers located overseas.

How does the foreign exchange market work?

Currencies are traded on a regular basis for a variety of reasons, including companies investing in foreign companies or services, tourists exchanging their regular currency for the currency of the country they’re travelling to and more.The currency of any given country will have a value determined by a large number of factors concerned with supply and demand, including inflation, interest rates, the overall balance of trading between two countries, a nation’s debt and more.

Converting currency

There are many ways to convert funds from one currency to another. Each will appeal to different types of people. These include:

  • Banks. Almost every bank will have a selection of currencies to allow you to convert funds, although it should be noted that more exotic currencies are usually not available on short notice. Banks traditionally charge high conversion fees and have less favourable exchange rates.
  • International money transfer companies. There are more and more companies cropping up in Australia offering the full range of foreign exchange services with large varieties of currencies available. These companies also offer money transfer services so you can send the funds wherever in the globe they need to go. These companies utilise many different methods to achieve competitive exchange rates and low fees, including peer-to-peer trading.
  • Foreign exchange kiosks and post offices. Usually found within airports, kiosks run by companies such as Travelex or banks offer foreign exchange services. Always be sure to compare the rates and fees you’ll be charged before converting these. Many Auspost post offices will allow you to convert funds into different currencies too.
  • Credit and debit cards. Australian credit and debit cards will automatically convert Australian dollars into foreign currencies when you’re overseas. Unless these are specifically designed for international travel you’ll usually have to pay foreign transaction fees and ATM withdrawal fees. Travel cards are an offshoot of these which allow you to lock in different currencies at specific rates, and require you to load funds onto them, often waiving many foreign transaction fees.

How do I compare foreign exchange services?

  • Fees. Most banks and exchange companies will charge a fee for converting currencies. These can vary wildly depending on who you go with. Some banks and companies will charge a percentage rate of say 1% of the total sale amount when buying, and others will charge a flat fee, which can be as much as $10 or even more.
  • Rates. In addition to fees, most companies and banks will add a margin to the exchange rate they offer you. Some foreign exchange providers will add a large margin to rates, while more competitive providers will minimise this margin. Exercise your due diligence before going with one provider and you’ll be sure to get more value out of your exchange.
  • Processing times. The importance of this will depend on why you want to convert funds from one currency to another and how much you’re converting. For those making large conversions and sending funds overseas, processing times will matter. Companies can provide priority services for an extra fee, so be sure to add this to your comparison.
  • Processing options. You might want to conduct regular transactions if you have to make overseas mortgage payments for example, so be sure to add this to your comparison of foreign exchange providers.
  • Extras. Other providers might also offer one-on-one services to business clients, as well as the ability to negotiate over the rate. You might also be able to take advantage of foreign exchange market analysis with your foreign exchange provider.

Keep in mind that some providers might offer competitive rates but high fees, while others might offer low fees but unfavourable foreign currency rates. What service you decide to go with should depend not only on convenience but also on the rates and fees they offer. Compare at least three providers, ideally both banks and other companies, before deciding on a service.

What are the pros and cons of foreign exchange?


  • Convenient way to exchange one currency for another
  • Some companies can organise regular money transfers for you so you can pay overseas bills or mortgages easily
  • Competitive rates and fees are available through specialised money transfer companies
  • You can trade currencies to make profits


  • Currencies can fluctuate each day, so trading is risky
  • Exchanging currencies can be expensive depending on the provider
  • The market can be complicated to grasp

Frequently asked questions

How long does it take to convert and transfer money across the globe?

This will depend on the currency being exchanged and the exchange service you use. Major currencies can usually be exchanged and transferred within one to two days, while other more exotic currencies can take up to four days.

What is a spot rate?

Many exchange services will advertise what’s called a spot rate. This is the value of the currency you’re buying or selling at that moment in time, and this is different to the ‘forward rate’ you will receive when going through with your transaction.

How do I know if my foreign exchange service is safe?

Always ensure that the provider you use is regulated by the Australian Securities and Investments Commission (ASIC), and that they employ online security systems such as VeriSign to protect your payment details and money. Also ensure that if you’re carrying out a money transfer, the service holds your funds in segregated client accounts. This means your funds are separate from the company’s corporate accounts.

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9 Responses

  1. Default Gravatar
    CameronOctober 22, 2018

    I want to unsubscribe from this site please assist me

    • finder Customer Care
      JohnOctober 22, 2018Staff

      Hi Cameron,

      Thank you for leaving a question.

      If you are pertaining to unsubscribing from the finder newsletter. Please follow the instructions below:

      1. Open any email you received from us. You should see this at the bottom of the newsletter.
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      Hope this helps!


  2. finder Customer Care
    HaroldJuly 27, 2017Staff

    Hi George,

    Thank you for your inquiry.

    You can send money to Cameroon, and this option might be helpful for you.

    I hope this information has helped.


  3. Default Gravatar
    jakeAugust 2, 2016

    sorry to bother you, how would i go about converting currency. the exchange rate isn’t available on the site although it is on forex sites, i have 2 500million zimbabwe dollar notes and would like them converted to aud in a new citibank account

    • finder Customer Care
      ClarizzaAugust 2, 2016Staff

      Hi Jake,

      Thanks for your question.

      Once you open a city bank account, you can make a foreign currency deposit at one of their branches and it will be converted to AUD. Please note, we are a comparison website and provide general advice only.

      Hope this helps.


  4. Default Gravatar
    maicaMay 6, 2015


    • Default Gravatar
      vaperperianJune 17, 2015

      is there an expiration date on frequent flyer?

    • finder Customer Care
      SallyJune 18, 2015Staff

      Hi Vaperperian,

      Depending on which frequent flyer program you’re referring to, some frequent flyer memberships or points can expire.

      Generally, most frequent flyer points expire if the frequent flyer account has been inactive for over 36 months.

      You may wish to look over the terms and conditions of your preferred frequent flyer program to confirm if the same expiration terms and conditions apply there.

      I hope this has answered your question.



    • finder Customer Care
      MarcMay 11, 2015Staff

      Hola Maica ,
      gracias por la pregunta.

      Desafortunadamente en este momento no nos comparamos activamente servicios de transferencia para el envío de pesos dentro de América del Sur.

      Es posible que desee comparar los servicios que permiten las transferencias de dinero de forma activa en América del Sur , como Viamericas , Xoom , Western Union o Intermex .

      Espero que esto ayude ,
      Marc .

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