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Compare foreign exchange

Looking to save money by finding the best exchange rates and lowest fees?



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  • No transfer fees
  • Price match guarantee
  • Dedicated account manager
  • Forex tools available
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Compare foreign exchange providers

1 - 20 of 27
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
24 hours
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
24 hours
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Within minutes
Send money with great rates and low fees in 30+ currencies.
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
Within minutes
From 0%
50% off first transaction fee from any country in APAC (outside India).
Minimum transfer of $250 and max transfer of $500,000
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
24 hours
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Within minutes
From $0
Get your 1st and 2nd money transfer for free with promo codes FIRSTFREE and MASTERFINDER!.
Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Within minutes
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
24 hours
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Qantas Business Money
Within minutes
Earn 1 Qantas Point per every AUD$10 equivalent you transfer into foreign currencies. T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
24 hours
From $0
Fee free FX up to 3 months, ends Nov 30 2023.
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.

Some of the brands we compare

WorldFirst logoTransferWise logoOFXTORFX Logo
Instaremh logoXe LogoANZ LogoLogo for WorldRemit
Western Union logo money transfersSend Payments LogoCurrencyFair LogoPicture not described
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International money transfer guides

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What is foreign exchange?

Foreign exchange refers to the act of changing one nation's currency to another's. Today forex can refer to currency trading, where investors are trying to make a profit, the same way as a stock trader would. FX can also apply to those exchanging money for personal or business use. Foreign exchange can particularly be important if you're sending money home to family, invest in a foreign country, or have clients located overseas.

How does the foreign exchange market work?

Currencies are traded through electronic communications networks (ECNs) – to the tune of $7.5 trillion per day (as of April 2022). The forex market is the largest financial market in the world, covering companies investing in foreign companies, tourists exchanging money and traders looking to leverage rates to turn a profit.

Factors that affect how a country's currency trades include inflation rates, political developments, monetary policy and foreign trade. Other factors are consumer confidence about the economy and economic growth, monetary policies in other countries, investor speculation and news about elections, new government policies and natural disasters.

Options for converting currencies

You have many options when it comes to converting currencies, with each appealing to a specific situation.

  • International money transfer specialists. More companies are popping up that offer a full range of forex services with larger varieties of available currencies. These companies are normally online and let you send your money worldwide with competitive exchange rates and lower fees than banks.
  • Banks. The vast majority of Australian banks offer a selection of currencies but more exotic currencies may not be available on short notice. Banks typically charge higher conversion fees and offer weaker exchange rates than your other options.
  • Foreign exchange kiosks and post offices. Usually found at airports, kiosks run by companies like Travelex offer foreign exchange services. Your local post office may offer currency exchange services. Make sure to compare the rates and fees you'll be charged before converting with these services.
  • Credit and debit cards. Many credit and debit cards automatically convert US dollars into foreign currencies when you're overseas. You'll normally pay foreign transaction and ATM withdrawal fees, whereas cards designed for international travel may allow you to lock in currencies at specific rates and waive foreign transaction fees.

Forex tools to get a better exchange rate

Many foreign exchange providers offer flexible tools that can insulate you against rapidly fluctuating market exchange rates – and help you better predict when it's best to complete your exchange. These hedging and planning tools include:

  • Forward contracts. If the current exchange rate is in your favour, a forward contract could allow you to lock it in for future transactions, sometimes as far as two years into the future.
  • Limit orders. Specify your ideal exchange rate with a limit order and when the market reaches that rate, it's locked in for you to complete your transaction.
  • Stop-loss orders. A stop-loss order is nearly the opposite of a limit order: instead of specifying an ideal rate, you indicate a rate you want to avoid dropping below. If the market falls to that rate, your currency is purchased automatically, giving you the potential to profit when the market rises again.
  • Recurring transfers. If you need to send regular cross-border transfers – weekly, monthly or quarterly payments to the same recipient – many services will allow you to lock in more favourable exchange rates with lower fees.

How do I compare foreign exchange services?

  • Transfer fees. Most banks and exchange companies will charge a fee for converting currencies. Because these fees can vary wildly, find out whether the provider charges a percentage of the total sale amount when buying or a flat fee.
  • Exchange rate markups. Nearly all providers add a markup to exchange rates to make a profit. Banks typically add a larger margin to the mid-market rate, while a money transfer specialist will minimise the margin. Look for the smallest margin between the mid-market rate and the rate you're offered.
  • Processing times. Depending on why you're converting money and the amount, how long it takes for your transaction to complete matters. Many companies provide priority services for an extra fee, so be sure to factor this fee into your comparison.
  • Processing options. You might need to conduct regular transactions if you're making overseas mortgage payments. If so, add the availability of recurring exchanges to your comparison of providers.
  • Extras. A provider may offer one-on-one services to business clients along with the ability to negotiate the rate. You might also be able to take advantage of forex market analysis with your foreign exchange provider.

While some providers offer competitive rates but higher fees, others could offer lower fees but weaker rates. Weigh rates and fees against convenience and compare at least three providers – banks and online specialists – before deciding on a service.

What are the pros and cons of foreign exchange?


  • It's a convenient way to exchange one currency for another.
  • Some companies can organise regular money transfers to pay overseas bills or mortgages easily.
  • Competitive rates and fees are available through specialised money transfer companies.


  • Currencies fluctuate daily, which means trading currencies can be risky.
  • Exchanging currencies can be expensive, depending on the provider.
  • The market can be complicated and difficult to fully understand.

Frequently asked questions

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4 Responses

    HaroldJuly 27, 2017Finder

    Hi George,

    Thank you for your inquiry.

    You can send money to Cameroon with WorldRemit. If you want to explore other options, you can learn more about how to send money to Cameroon and check other money transfer service providers.

    I hope this information has helped.


    Default Gravatar
    jakeAugust 2, 2016

    sorry to bother you, how would i go about converting currency. the exchange rate isn’t available on the site although it is on forex sites, i have 2 500million zimbabwe dollar notes and would like them converted to aud in a new citibank account

      ClarizzaAugust 2, 2016Finder

      Hi Jake,

      Thanks for your question.

      Once you open a city bank account, you can make a foreign currency deposit at one of their branches and it will be converted to AUD. Please note, we are a comparison website and provide general advice only.

      Hope this helps.


    SallyJune 18, 2015Finder

    Hi Vaperperian,

    Depending on which frequent flyer program you’re referring to, some frequent flyer memberships or points can expire.

    Generally, most frequent flyer points expire if the frequent flyer account has been inactive for over 36 months.

    You may wish to look over the terms and conditions of your preferred frequent flyer program to confirm if the same expiration terms and conditions apply there.

    I hope this has answered your question.



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