Get exclusive money-saving offers and guides
Straight to your inbox
By signing up, you agree to the Finder
Privacy & Cookies Policy
and
Terms of Use, Disclaimer & Privacy Policy.
Take advantage of a free money transfer
Yes, it is possible to send money overseas for free.
Guides
Exchange Rates
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
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.
Finder exclusive: Get a $100 EFTPOS voucher when you transfer AUD$1,000 or more. T&Cs apply.
Send money overseas with SendFX
SendFX has fee-free transfers in 30+ currencies to over 200 countries.
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:
- OFX. Standard transfers come with no transfer fee through OFX.
- WorldRemit. Create an account with WorldRemit, and you won't pay fees on your first money transfer.
- Hawk FX. Meet its $10,000 minimum for fee-free transfers through Hawk FX.
Compare money transfer services
Table: sorted by a combination of service offering and the amount your recipient will receive
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
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 transfer | Strongest exchange rate | Low fee, strong exchange rate | |
|---|---|---|---|
| Fee | $0 | $20 | $3 |
| Exchange rate | 1 AUD = 48.504 INR | 1 AUD = 48.747 INR | 1 AUD = 48.552 MXN |
| Transfer speed | 1-2 days | 1-2 days | Minutes |
| Amount received | INR145,512 | INR145,266 | INR145,510 |
| Overall |
|
|
|
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.
Remitly
Better exchange rate on your first transfer
Available for transfers to the Philippines, India, Nepal, Pakistan, Sri Lanka, Bangladesh and more.
Last verified
SingX
First two transfers free for new customers
Pay no fees on your first two transfers, up to $3,000.
Last verified
CurrencyFair
10 free transfers for new customers
Sign up and receive your first ten transfers for free.
Last verified
WorldRemit
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
Last verified
CurrencyFair
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.
Last verified
WorldRemit
Zero Fees on Your 1st Money Transfer
You first transfer is free with WorldRemit when you use this coupon code. Send to 140+ countries.
Last verified
OFX
Exclusive exchange rates for Finder readers + $0 fees
Visit the OFX site to see your savings. T&Cs apply.
Last verified
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.
More guides on Finder
-
MoneyMe Freestyle Virtual Mastercard
Get $250 credit back when you meet the eligibility requirements and 55 days interest-free on purchases.
-
Where to buy chess books online with free delivery in Australia
Are you looking to improve your chess game with instructional chess books? Here are some of the best online bookstores that offer free delivery and signed copies.
-
Free promissory note templates (Australia)
Lend money to friends or family simply and securely using promissory notes.
-
Uniswap UNI airdrop takes Ethereum by storm
Between free money, gas fees, community governance and market forces, UNI is hitting all the notes.
-
homeloans.com.au Low Rate Home Loan with Offset
The homeloans.com.au Low Rate Home Loan with Offset is fee-free and features a 100% offset account.
-
Revolut launches in Australia: How does it compare to rival neobanks and fintechs?
As Revolut announces it's open for business in Australia, we look at how it compares to the likes of Up bank, TransferWise and 86 400.
-
Money Transfer Finder®
Our picks for the best ways to send money internationally.
-
Money Transfer Finder®
Our picks for the best ways to send money internationally.
-
How do we pick the top money transfer services?
Our top picks are our selection of the best money transfer services, based on our extensive research and market experience. Here's how we choose them.
-
Podcast: Tax time tips for EOFY 2020
Finder experts explain how to claim home office expenses on your 2020 tax return, tips for new investors and how to get the most out of the EOFY sales in 2020.
International Money Transfer Offers
Important Information*
Ask an Expert
