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Compare international money transfers for your business
Lock in competitive exchange rates for your business transfer and take advantage of low fees.
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Using an international money transfer service instead of your bank when paying international employees or invoices can save you both time and money. We break down the best ways for your business to make international payments to help you get back to work quicker.
Finder exclusive: Get a $100 EFTPOS voucher when you transfer AUD$1,000 or more. T&Cs apply.
Send money overseas with Send
Send has fee-free transfers in 30+ currencies to over 200 countries.
Compare international money transfer services for businesses
Use our comparison calculator to assess transfer fees, exchange rates, transfer speeds and more for your business transfer.
- Enter the amount you need to send.
- Select the country you need to send to.
- Click Calculate to see rates and fees.
- Click Go to site on the transfer that best fits your needs.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What's in this guide?
Does your business need to send money internationally?
Take a look at the ways you can make and request payments across borders to figure out which is best for your business. Many options are at your disposal, each with their own benefits.
International money transfers for business
Money transfer providers are specialists that can get your funds from A to B at a low cost. And they'll likely hit your account — or the account of your supplier, contractor or employee — sooner than other options.
Many specialists also offer forward contracts, limit orders and recurring transfers to save you time and money.
- Best for: Businesses looking to send quick, cost-effective payments and benefit from additional money-saving features.
Business payments for online sellers
For a service that goes beyond directly sending and receiving payments, a business payment account with a money transfer provider may better suit your business's needs.
One such provider is TransferWise. Its Borderless program allows you to set up local bank accounts in up to 15 countries so you can pay and get paid as though you were local.
- Best for: Businesses looking to work with multiple currencies and accounts in multiple countries, all in one place.
Cost-effective international transfer services for online sellers
International payroll services
When you're looking to pay your employees, you can potentially get everything handled by an international payroll service. It processes the entirety of your payroll and stays up to date on regulation changes so you don't have to.
- Best for: Paying your borderless employees without dealing with local tax laws and payroll regulations.
Bank wire transfer
A bank-to-bank wire transfer may be the most familiar and well-tread path, but it may not be what's best for your business. International wire transfers often come with steep transfer fees and poor exchange rates.
- Best for: Paying vendors that only accept wire transfers.
Send wire transfers through money transfer companies to save money
Mail a check
Failing all other methods, you can mail a check. Doing so comes with quite a few drawbacks, including comparatively lackluster security and slow delivery times.
- Best for: Times when no other option is available.
Why should I compare my options beyond my bank?
For business owners, time can sometimes be more valuable than money. You may think that because it handles your other finances, your local bank is the simplest option when sending money overseas. In truth, international money transfers are no longer a game for only tried-and-true players like banks. Newer companies promise to undercut the competition to earn your business.
Should I use a specialist money transfer service or my bank?
Kevin is a small business owner who wants to send a one-off payment of AUD$5,000 overseas to an important supplier in the United States. Although tempted to simply use his regular bank to perform the transaction, he decides to compare how much it will cost through his bank with the expense involved in transferring funds via a money transfer provider.
| Bank | Money transfer service | |
|---|---|---|
| Exchange rate | 0.689 | 0.726 |
| Fee | $12 | $23.93 |
| Amount transferred | US$3445 | US$3,614.87 |
| Amount saved using a money transfer service | +US$169.87 |
As you can see, even though the transfer fee with the money transfer service is more than the fee that the bank charges, the exchange rate is much more competitive. Therefore, even with the higher transfer fee, Kevin can send an additional US$178.31 to his recipient by using a dedicated money transfer provider.
*Rates quoted are correct as of 06 November 2020. You should always source a quote for current rates and fees.
How can I receive international payments?
How you set up to receive funds is going to depend on what type of service you go with. Banks are likely to give you the option to open the account and get started in-person, while a dedicated money transfer service will probably have less physical locations. You'll likely also have the options of opening an account over the phone or online.
The process is a bit more involved for business accounts, so set aside at least a half-hour in most cases to get through the entire application. Make sure you have your personal details, business information and any relevant financial information you may need.
We know you are busy, but don't worry. We did a lot of the work for you and compared some of the best payment processors.
Bottom line
While there's no one perfect product for making international business payments, knowing how to evaluate solutions and find the best one for your business goes a long way. Compare international money transfer providers to get more details on the services they provide, how to better measure them against one another and what to do once you choose one.
Frequently asked questions about business transfers
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