Money Transfer Finder®

Compare to find the best rates and lowest fees for your next international money transfer from Australia.

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Send money overseas with TorFX

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.

  • No transfer fees
  • Price match guarantee
  • Dedicated account manager assigned to you
  • Forex tools available
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Compare money transfer services

Our table below lets you compare the services you can use to send money overseas. Input how much you want to send and to what currency, and you'll be shown a list of services that can help you.

Tip: Click "Show details" to find out more about the product.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 3.99 538.071 XOF
80,711
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries. Go to site Show details
AUD 10 Within an hour USD 2.99 537.531 XOF
79,022
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
AUD 200 1 - 2 days N/A N/A N/A New customers sending over AUD 500 from Australia use code FINDER50 to get AUD 50 off. Valid till 30th June 2021. T&Cs apply.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
AUD 1 Same day USD 3.99 539.153 XOF
78,722
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days USD 2.78 538.558 XOF
79,287
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. 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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA 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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We only list licensed services that are overseen by a government regulator.
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Every service we compare has been assessed and reviewed by our editorial team.

What is an international money transfer?

An international money transfer is what happens when you send money to someone overseas. You provide funds and your recipient's details to a bank or an independent transfer provider, which then exchanges the money into your desired currency and sends it to your recipient. You can send money over the phone, in person, through a mobile app or online.

You also have options when it comes to paying, depending on what the service you choose offers:
  • Cash
  • Credit or debit card
  • Bank transfer
And you have options for how your recipient receives the transfer:
  • Bank account
  • Mobile wallet
  • Cash pick-up
  • Door delivery

Learn more about money transfers for:

Promoted
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.

How to transfer money internationally

There are two main ways to send money out of Australia: a specialist money transfer service or your bank. Both banks and transfer services offer online transfers, with some offering in-branch transfers or the ability to send money over your phone via an app or calling an agent.

We'll go through the steps each method takes if you were sending online.

Through a money transfer specialist

The following steps give a good example of a typical transfer using a money transfer company.

  1. Register online with the transfer service of your choice.
  2. Input transaction details, including the amount you want to transfer.
  3. Get approved by the transfer company. You may need to scan or email a copy of your ID for the first transaction.
  4. Transfer funds through your bank using the account details from your transfer company.
  5. Get your money. Your transfer service will deposit your funds in your destination account.
  • For you if
    You want a more competitive exchange rate and lower fees than a bank transfer.
  • Not for you if
    You want the familiarity and convenience of a known bank and don't have time to be verified.

Through your bank

If you choose to use a bank to carry out your transfer, the process is a little different.

  1. Navigate to the international money transfers section of your account.
  2. You'll usually need to know the address of the receiving bank, the account details of the receiving account, the account name and often the receiving bank's SWIFT code (an international bank identification system).
  3. It's a good idea to check with your bank about exchange rates.
  4. You can use this method to send an international money order online to your home bank account or to a third party.
  • For you if
    You want the convenience of sending money directly from your existing bank account immediately.
  • Not for you if
    You want fewer fees and a better exchange rate.

How to save on your international transfer

While there's no best way to transfer funds overseas, there are a few things you can do to make it cheaper.

  • Know your transfer currency's mid-market rate. This rate is the midpoint between worldwide supply and demand for that currency – and the rate banks and transfer services use when they trade among themselves. Use it as a baseline to compare against the rates you're being offered. The company that's closest is offering you the best rate.
  • Send more money per transfer. Many services discount the fees or waive them altogether when you send larger amounts.
  • Use forward contracts and limit orders if sending money regularly. A forward contract allows you to lock in a favourable exchange rate for future transfers. This means you'll avoid unpredictable movements in exchange rates. A limit order allows you to wait until a favourable exchange rate is found, and then lock it in for your transfer.

What should you watch out for?

Keep an eye out for the following when you send money overseas:

  • Hidden fees. No transfer is truly free. If a service is advertising "fee-free transfers", there's probably a larger margin added to the exchange rate. Compare the rate you get quoted against the mid-market rate (which you can find on Google) to see if you're getting a good deal.
  • Fake rates. If you see a great exchange rate advertised on a provider's website, make sure the rate you see is the rate you will actually receive. Some companies advertise the mid-market exchange rate, which is the rate at which banks purchase foreign exchange, rather than the rate they actually offer their customers.
  • Failing to do your research. If you want to save some money, compare several transfer providers before choosing one to sell your transaction. Shop around for a company that offers reliable and affordable transfers, instead of just diving in head-first.
  • Scams. Scams cost Australians over $630 million in 2019. With this number increasing each year, it's important to keep an eye out for the most common scams. In general, it's best to only send money to someone you know personally.
  • Taxes and regulation. Each country regulates money transfers differently. Make sure you've read up on if your recipient needs to pay taxes on the money they're being sent. In Australia, for example, money transfers over $10,000 get automatically reported to our regulatory body AUSTRAC and you don't need to do much. But other countries, like India or the US, have stricter regulations.

Worried about sending money during coronavirus? Read our guide on what you need to know

Other frequently asked questions

How long does an international money transfer take?

The length of time it takes for your money to arrive depends on the transfer service you choose and how you pay. In general, if you pay with credit or debit card, your money will arrive fast – often within the day. Paying by bank transfer is a lot slower and will generally take two to five days to clear.

You can read more about what to expect and the different factors affecting transfer speed in our guide.

How much does a transfer cost?

Each service charges different amounts and this can vary between currencies as well. In general, there are two ways you're charged for money transfers. Let's break it down.

  1. Upfront fee. This is typically a flat fee or a percentage of your transfer.
  2. Exchange rate margin. This fee is a hidden mark-up on the mid-market rate, which is the rate you'll see on Google or the news. Nearly all services skew exchange rates for a profit and some more than others. Make sure to check the exchange rate you're being offered against the mid-market rate to see how much you're actually being charged.

Other fees will depend on how you're paying for your money transfer and how you'd like your recipient to pick it up. Credit or debit card transfers are often your most expensive option, though often the fastest, while cash pick-ups can also increase what you'll pay.

Are there limits to how much I can send?

You can send as much or as little as you want, but it all depends on the service you choose. Some are aimed at bigger transfers and will have minimums that can get as high as $5,000. You can also find several that specialise in smaller transfers and have minimums as low as $1.

There are no limits in Australia to how much you can send out of the country, but the service will need to do extra verification on you to comply with the law. This could mean presenting more proofs of identity or address, like utility bills, car registration or your passport.

Are there free international money transfers?

Some services offer "first transfer free" deals for new customers and promo codes so you can get discounts on your second and third transfers. There are also services that advertise "fee-free" transfers, but you'd still be paying a hidden fee on the exchange rate mark-up.

Check out some of the latest promo codes on offer below to see if you qualify for a free first transfer:

RemitlyRemitly

Better exchange rate on your first transfer

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

Last verified

SingXSingX

First two transfers free for new customers

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

Last verified

CurrencyFairCurrencyFair

10 free transfers for new customers

Sign up and receive your first ten transfers for free.

Last verified

WorldRemitWorldRemit

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

CurrencyFairCurrencyFair

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

WorldRemitWorldRemit

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

OFXOFX

Exclusive exchange rates for Finder readers + $0 fees

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

Last verified

Sending to a specific country? Learn more

Promoted
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.

Read more on this topic

International Money Transfer Offers

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

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 WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.

Logo for Send International Money Transfers
Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&C’s apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.

Ask an Expert

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77 Responses

    Default Gravatar
    FrankAugust 18, 2019

    If I transfer money to a supplier from overseas and I do not receive the goods, can I get my money back?

      Avatarfinder Customer Care
      JeniAugust 18, 2019Staff

      Hi Frank,

      Thank you for getting in touch with Finder.

      How you may get your money back if the supplier did not send you your goods is beyond the money transfer company’s control. The money transfer company would only process transferring the money to the sender’s designated recipient and whatever deal you have with your supplier is none of the money transfer company’s liability. It is best that you speak with your supplier on assurance of getting your goods before or after the money transfer.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    SimonApril 20, 2017

    How much is $100 to Zambian kwacha?

    Is possible that someone living in another Country can receive the money using Money Gram by just using his/her name and the Country?

      Avatarfinder Customer Care
      HaroldApril 21, 2017Staff

      Hi Simon,

      Thank you for your inquiry.

      1. How much is $100 to Zambian kwacha?
      Answer – In general, as of this time, US$ 100 =520 833.33 Zambia kwacha. Please note conversion rate differ based on your preferred provider.

      2. Is possible that someone living in another Country can receive the money using Money Gram by just using his/her name and the Country?
      Answer – Yes, it is possible as long as that person uses the needed and correct information. MoneyGram is available in over 197 countries. Please be sure to read our MoneyGram review page to learn more.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    MaggiAugust 20, 2016

    Friends have sold their properties in USA and are moving to Australia to live they have their super etc. They have made enquiries with their bank and western union and have found they will loose about 15% if transferring to a bank, They wish to buy a home here and that amount affects their options. Someone mentioned the money market but they do not know how to go about this, Can you help?

      Avatarfinder Customer Care
      ClarizzaAugust 22, 2016Staff

      Hi Maggi,

      Thanks for your question.

      We are a comparison website and as such, provide general advice only.

      There are migrant bank accounts especially designed for people who intend on moving to Australia. Migrant accounts come with different features and may waive certain fees for a period of time if you open an account before you arrive in Australia. Be sure to check the fees in detail though as each product charges different fees and has different features.

      You may also find our Australia to the US movingto help you learn more about moving to Australia from the US. Hope this helps.

      Regards,
      Clarizza

    Default Gravatar
    GeorgeAugust 16, 2016

    what is the cheapest method of transferring Australian currency for the purchase of property in Cyprus

    Default Gravatar
    KarenJuly 12, 2016

    USD transfer sent from HSBC to the USA, Bank of New York Mellon, Western Union Business Solutions and finally to a USA based credit union.

    I am not concerned about the exchange rate, though I would like an idea of how long this would take in business days.

    Your estimates above are confusing.

    Also would it have been any different if the transfer had of just been from HSBC directly to the USA based credit union?

    Many thanks.

      Avatarfinder Customer Care
      ClarizzaJuly 27, 2016Staff

      Hi Karen,

      Thanks for your comment.

      Our table shows HSBC transfer could take 1 to 2 business days online if transferred only or 3 to 5 business days if transferred via phone transfer.

      Hope this helps.

      Clarizza