Money Transfers with ZERO Online Transfer Fees

Information verified correct on April 28th, 2017

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

The increasingly competitive online money transfer space is a buyer’s market. There’s a handful of providers that offer free money transfers. Some services give you your first transfer for free; while other providers don’t charge a commission at all. You can even find promo codes to make international transfers cheaper. Expensive banks aren’t the only option to transfer money overseas.

Use our money transfer calculator below

Rates last updated April 28th, 2017
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Citibank Plus Everyday Account
Citibank Plus Everyday Account
A transaction account with free transfers to any country and no foreign transaction or international ATM withdrawal fees. AUD 0 Same day Online, Phone, Agent, Bank Account to Bank Account More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering exclusive exchange rates and $0 transfer fee on all transfers.
AUD 250 1 day Online, Phone, Agent Go to site More
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
AUD 200 1 day Online, Phone, Agent Go to site More

What's a free international money transfer?

A free money transfer is a no commission remittance. Remittance is a technical term for the delivery of money at a distance. Free money transfer remittance services like WorldRemit, OFX, or Exchange4Free either don’t charge an upfront fee at all, give you your first transfer for free or offer free transfers for transactions of a certain size like sending more than $10,000.

Sending money from your bank’s transaction account to an overseas party is going to cost you dearly. Most banks and providers of banking products charge a fee for this service. For example, there’s a $20 flat fee for sending money to an international account from a St.George bank account. Fees may also apply on the receiving end as well.

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Do free international money transfers actually exist?

It is possible to find a free money transfer company, but these companies don’t offer something for nothing. The companies that offer a ‘free’ service — that is they don’t charge a commission or transfer fees, ever — make their money from the exchange rate spread: the difference between their foreign currency buy and sell rates, and currency conversion. Even though you’re not paying an upfront fee, you’ll pay slightly more to buy foreign currency.

The companies that charge a commission tend offer better forex rates, and some providers offer ‘first transfer free’ promotional offers for new customers as well as free transfers when you’re sending a large amount of money.

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Who offers free money transfers to India?

  • Money transfer companies. OFX, WorldRemit, Exchange4Free and HiFX all offer free money transfers to India. OFX and WorldRemit don’t charge for the first money transfer, which makes them a good option for one-off transactions. You may be able to get a deal by using a promo code from if you need to make subsequent transfers.
  • Banks. Send money to India for free with the global banker, Citibank. Free money transfers can be made between Citibank accounts in Australia and India when you send the money from the Citibank Plus Transaction Account. Send money to 200 countries for free using the Citibank Plus Transaction Account.

Paypal is a well known way to send money to a bank account or Paypal account in India. Transfer fees do apply if you use Paypal to send money overseas. International money transfers attract a charge, which is a percentage of the transfer amount. Fees vary depending on whether you send money from a credit or debit card or bank account.

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International money transfer services that currently offer free money transfers

  • Worldremit. WorldRemit give you your first money transfer for free when you create an account. Get further savings when you use a WroldRemit promo code. WorldRemit gives you more ways to send money overseas, for example, you can top up credit on a mobile phone in India or arrange for a door to door cash delivery in the Philippines.
  • Exchange4Free. Exchange4Free don’t charge a commission or money transfer fees for international money transfers. Although this is a ‘free money transfer’ service, Exchange4Free make a small margin on the exchange rate.

These money transfer providers give you free money transfers when you send large sums of money overseas.

  • OFX. OFX are ideal for large money transfers like sending money overseas to purchase a property or car. OFX offer free money transfers to overseas bank accounts when you send more than $10,000. A flat fee applies for transfers less than this amount. OFX can offer competitive exchange rates too.
  • HiFX. Like most other money transfer services, HiFX waive money transfer fees when you send over a certain amount, for example, sending more than INR365,000 (AUD$10,000) won’t attract a transfer fee from HiFX. Like OFX, HiFX makes sense for international property owners or students looking to send money overseas.
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What are the benefits of sending money overseas for free?

  • Save on money transfer fees. Banks and money transfer companies charge a fee for the service of sending money to an account in another country. Use a free money transfer service to save on international money transfer fees.
  • Transfer time. Some money transfer companies can make the funds available to recipient immediately.
  • Send money all over the world. You can send money for free to hundred of countries all over the world. Check the free money transfer provider’s website for a list of places where you can send money.
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Where can I find promo codes for a free money transfer? is an online comparison service. We compare products side by side so you can find the right financial product for you. We also offer promotional discount codes for some of Australia’s most popular services. Check our page on cheap ways to send money overseas to stay up to date with the latest promotional codes so you can save money on international money transfers.

Frequently asked questions

How do I know a money transfer company is safe to use?

You can view the regulations that govern money transfer companies on their website. Customer testimonials are also a good way to check the credibility of a money transfer company.

How long does it take to send money overseas?

Transfer time depends on a number of factors. Some transfers are available immediately, other transfers can take up to 48 hours.

How do I find out the exchange rate?

You will be able to see the exchange rate for your money transfer when you’re provided with a quote before you confirm the transaction.

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International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First International Money Transfers

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

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