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Compare international money transfer services for SMEs

Your choice of money transfer service is an important business decision

If your business revenue is dependent on international money transfers, it’s important that you find the right provider. This is because a lot of your business’ money will flow through those transfers, and unfavourable exchange rates or hidden fees might take a bite out of your profit margin.

It can be a good idea to choose your money transfer service in the same way you would carefully select any vendor or other essential service provider. If you’re using your current bank for transfers, there’s a good chance your business isn’t as profitable as it could be.

Compare money transfer solutions for businesses below

Rates last updated October 20th, 2017
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
Forward contracts and order types available
Receive currency analysis by market professionals, free transfers and competitive exchange rates
Exclusive: OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Exclusive: World First International Money Transfers
AUD 2,000
1 day
Online, Phone
Forward contracts and spot contracts available
View live rates, graphs and economic commentary. eCommerce-tailored solutions.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
Compass Global Markets International Money Transfers
AUD 1,000
1 day
Online, Phone
Hedge your foreign exchange risks by becoming a client.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
HiFX business services are designed to save you time and money.
Currency Solutions International Money Transfers
AUD 3,000
2 days
Online, Phone, Bank Account to Bank Account
You can increase your profit margins and mitigate currency risk with Currency Solutions.
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.

Compare up to 4 providers

Can’t find what you’re looking for? Have a TorFX currency expert contact you for free

After you've submitted your details, a TorFX consultant will contact you via the phone number you've provide for a free consultation. You will typically receive a response within one business day.

TorFX are international money transfer specialists and have an office based in Surfer's Paradise Queensland and have the AFS Licence number 246838. We will not collect your personal information unless it's necessary to provide the information, advice or service you've requested and, where possible, you'll be able to use our services anonymously.

If you have never transferred money before or have a large amount of money to transfer (like paying back an overseas home loan or receiving an inheritance), you may feel more comfortable speaking to a person instead.

Enter your details to speak to a foreign exchange expert

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

How an international money transfer service can make your business more profitable

If your business sends money overseas then international exchange rates might be a considerable business expense, eating away at the margins of each transaction. However, you won’t get the same rates with all providers, and simply looking for the best exchange rates can be an effective long-term way of boosting profitability.

You can couple this with limit orders, which alert you or let you automatically schedule future transfers when the market exchange rate hits a level that is acceptable for you.

Did you know?

Is it worth using multiple transfer services?

Sometimes it might be a good idea to use more than one transfer service, depending on the type of transaction. This can be relatively easy with independent services where you can link to most types of bank accounts, but might be more difficult if you’re still using your bank to make international transfers.

  • You may be able to find lower exchange rates at the cost of a higher transaction minimum. It might be a good idea to open this type of account to get preferable rates on larger transactions.
  • You may be able to find zero fee transfers at the cost of higher exchange rates. This type of account may be well-suited for many smaller transactions.

If you’re doing international business money transfers through your bank, you might simply be spending much more than you need to on foreign currency transfers. Compare your current rates with the rates of other providers to see if this is the case.

Preferable exchange rates are a good starting point for deciding on an international currency transfer service, but before settling on any one option it can be a good idea to consider the benefits available in line with what’s right for your business’ needs.

The latest in foreign exchange

How to compare international money transfers for SMEs

Once you’ve found the best exchange rates, you might want to start looking at the other benefits. Which of the following can your business take advantage of?

Low or no fees

A different fee structure might be preferable depending on what type of transfers you tend to make.

Zero fee transfers

Eligible transfers of certain amounts, depending on the currency type and other factors, might be sent with no fees at all, and have no costs other than the exchange rate.

Percentage-based fees

If you’re making numerous small transactions, a fee structure based on percentage can be very affordable.

Flat fees

These may be well suited to keeping costs down on larger transactions.

Scheduled payments

Take advantage of the flexibility offered with pre-scheduled payments, and consider combining it with limit orders to make effective budgeting easier, even across variations in exchange rates. In addition to allowing closer control of transactions, this can also be a straightforward time-saver.

Track payments

Online money transfer services can deliver added functionality when tracking payments, including automated alerts and confirmations, to help you keep meeting the needs of your customers and service providers around the world.

Case study: How Lee boosted his profit margins

Lee, proud owner of a shop in Sydney, was making monthly payments of $15,000 to his primary overseas supplier in the United States. Since starting the business, he had been using his bank to make all these transfers with a $25 fee each time, and with exchange rates of 0.83 Australian dollars for every US dollar. One day he decided to look for a better deal, and managed to find an international transfer service with no fees on transactions above $10,000 and an exchange rate of 0.87. He drew up a table to compare them.

AUD$15,000BankMoney transfer serviceMoney transfer service with limit order
Exchange rate0.830.870.89
Fee$25$0$15
Amount transferredUS$12,429.25US$13,050US$13,335

Simply by using a currency transfer service Lee had gone from a 0.83 exchange rate to a 0.87 exchange rate and was saving over $600 a month from this alone.

By also setting up a limit order, alerting him when the exchange rate reached 0.89, Lee was able to wait until the rates were even more favourable before making the transfer, saving an additional $300 or so, even after the $15 limit order service fee.

With one simple change, Lee had made a big difference to his profit margin.

Most owners of small- and medium-sized businesses can appreciate the importance of keeping costs down. When the margins are tight, there’s no need to waste money on unfavourable rates.

Compare SME money transfer services to see if you can reduce costs by signing up.

Andrew Munro

Andrew writes for finder.com.au, comparing products, writing guides, sniffing out deals and looking for new ways to help people get the most out of their money.

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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.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

Exclusive: OFX (Ozforex) International Money Transfers

Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.

Exclusive: World First International Money Transfers

Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.

FC Exchange International Money Transfers

FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.

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