Take advantage of a free money transfer

Yes, it is possible to send money overseas for free.

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The increasingly competitive online money transfer space is a buyer’s market that offers lower fees, stronger rates and more flexibility than your local bank. Add to that the handful of providers running special offers or promo codes for free transfers or no commission, and you've got one big incentive to try out a digital money specialist.

Do free international money transfers actually exist?

Yes. But money transfer specialists aren't in the business of offering something for nothing.

Companies that advertise a "free" service — such as no commission or transfer fees — make up for it by applying a "spread" or margin on the mid-market rate, or the rate rate financial institutions use when trading currency among themselves. This margin varies by country and currency but can be anywhere from 0.1% to 10%, depending on the company and where you're sending to. The cost of the margin markup can outweighs the "free" transfer, which makes for an unpleasant surprising.

Charging a transfer fee can be a way for transfer companies to offer stronger exchange rates, which benefit large transfers. With research, you might find a company that waives transfer fees for new customers.

Ways to get a free money transfer

With so many companies angling for a piece of the remittance pie, the best deal may involve a promotional push for new customers or a promo code for waived fees or discounts off your total.

Money transfer companies make you pay through fees or mid-market markups — and sometimes both. To transfer money for free:

  • Use a promo code. A promotional code for a company without a markup on the mid-market rate will allow you to transfer for free. A list of our current coupons and promotions can be found below.
  • Transfer with a company that doesn't charge fees. Some money transfer companies forgo flat fees by adding a small percentage on top of the exchange rate. International money transfer services offering free transfers include:

Compare money transfer services

Table: sorted by promoted deals first

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.747 USD
7,473
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 250 1 - 2 days AUD 0.00 0.747 USD
7,469
$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 1 Same day AUD 0.00 0.746 USD
7,462
XE has fast transfers with low fees and a range of foreign currency tools. 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.
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Let's crunch the numbers: The cost of a free transfer

To put this into perspective, let's see what a free transfer actually looks like when sending $3,000 AUD to INR. Compared using live exchange rates from 6 May, 2020.

$0 fee transferStrongest exchange rateLow fee, strong exchange rate
Fee$0$20$3
Exchange rate1 AUD = 48.504 INR1 AUD = 48.747 INR1 AUD = 48.552 MXN
Transfer speed1-2 days1-2 daysMinutes
Amount receivedINR145,512INR145,266INR145,510
Overall
  • $0 = worse exchange rate
  • Best exchange rate = higher fee
  • Small fee = best overall transfer

Depending on the amount you are sending, it may be best to pay a small fee to secure a stronger exchange rate. Comparing a large amount of transfer options can be tricky unless you're using a comparison table that compiles data based on your sending amount and destination.


Where can I find a promo code for a free money transfer?

Many digital money specialists promote free money transfers through codes on their own sites. Or you can keep it simple by comparing your options through Finder and checking out our independent reviews for promo codes.

Deal

Better exchange rate on your first transfer

Available for transfers to the Philippines, India, Nepal, Pakistan, Sri Lanka, Bangladesh and more.
Deal

First two transfers free for new customers

Pay no fees on your first two transfers, up to $3,000.
Deal

10 free transfers for new customers

Sign up and receive your first ten transfers for free.
Code

Zero fees on your first THREE money transfers

Send money with WorldRemit using the code '3FREE' and pay no fees on your first three money transfers
Deal

Get 5 FREE transfers when you sign up through Finder

Sign up today and pay zero fees on your first five transfers. T&Cs apply.
Code

Zero Fees on Your 1st Money Transfer

Your first transfer is free with WorldRemit when you use this coupon code. Send to 140+ countries.
Deal

Exclusive exchange rates for Finder readers + $0 fees

Visit the OFX site to see your savings. T&Cs apply.

Bottom line

With so many money transfer specialists in the market for your money — longtime mainstays and new digital names — customers both new and old can find promo codes and deals to waive fees on transfers worldwide. Weigh rates, fees and flexibility when comparing international money specialists.

International Money Transfer Offers

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

New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs 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 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 MasterRemit International Money Transfers
MasterRemit International Money Transfers

New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.

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.

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