World First Foreign Exchange and International Money Transfers

Information verified correct on April 24th, 2017

Make your international money transfers simple and easy with World First Foreign Exchange. Get more bang for your buck.

World First Foreign Exchange can see that your transfer is processed smoothly with your best intentions in mind. It is a low-cost money transfer service which doesn't charge commissions or high fees. Using its service rather than a bank could mean you get better rates on your foreign money transfers, saving you money.

If you’ve signed up through the link, there will automatically be a note on your file telling your dealer not to charge any fees. World First will also ask you how you heard about us and if you say, then you’ll get the $0 fee applied to your transfer.

Exclusive: World First International Money Transfers Exclusive: $0 Transfer Fee Offer

World First offers competitive rates on international money transfers direct to the overseas beneficiary account, saving both time and money.

  • All customers won't pay a $0 fee
  • Authorised and regulated by ASIC
  • Fast international payments process
  • 24 hour online payments system
  • Available currencies: USD, GBP, HKD, CNY, JPY, EUR, INR, NZD, CAD
    Rates last updated April 24th, 2017
    Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
    Exclusive: World First International Money Transfers
    Exclusive: World First International Money Transfers
    Exclusive offer: $0 transfer fee
    Transfer money into a range of currencies online and over the phone.
    AUD 500 1 day Online, Phone Go to site More
    World First's Price Promise

    Since World First transacts over $4b a year, its able to access the same interbank rate as the mainstream banks. If you get a better quote from another international transfer service, talk to World First and provided it doesn't result in a loss for World First, it will match it. Here are the conditions:

    • You need to be registered with World First
    • You need to be registered with another provider (the one you obtained the quote from)
    • Get a quote for the same amount and currency pair from the other provider and
    • Submit your quote within 3 hours of receiving it from the other provider.

    What does World First Foreign Exchange offer?

    World First Foreign Exchange allow you to transfer money to international locations in different currencies. As you'll read below, they offer a number of options when carrying this out.

    Spot contracts

    This is a transfer or transfers made using the rate of the day.

    Forward contracts

    A forward contract allows you to fix an exchange rate for your transfers. This can be done for up to two years in advance, and allows you to budget in advance knowing that your rate won't change. To carry out a forward contract you'll need to pay a deposit, and then pay the balance at the arranged transfer time.


    This is also known as a currency option, and gives you the opportunity to make a forward contract but also benefit if rates move in your favour. They offer many variations within this type of transfer, and can tailor them to your needs.

    World First also offers 'take profit orders' and 'stop loss orders', and a mixture of the two called an OCO or 'one cancels other' order.

    Foreign exchange rates

    The main thing you'll want to know if you're transferring money to an overseas location is what foreign exchange rate you'll receive. Some transfer services may offer you low fees but an inferior rate, or vice versa. World First Foreign Exchange guarantees a better exchange rate than your bank, which can be from 0.23% - 4% better than what you're quoted.

    How is World First able to offer rates like this?

    When banks trade foreign currencies between themselves they'll use the 'interbank' rate. This rate is much better than the rate you usually receive at a currency exchange kiosk or at a bank. World First offers this rate to customers and adds a lower margin to it, known as a 'spread'.

    How much does it cost to transfer money?

    World First doesn't charge a commission fee to carry out your foreign transactions – saving you money. They also have lower transaction fees.

    In terms of transfer fees, World First will give you one free international payment for each transaction worth over $10,000. If you make a transaction under this amount, or make an additional transaction worth over $10,000 you'll pay a fee of $15.

    If you're a business customer you'll be able to negotiate a better fee between $0 and $15.

    For ANZ this charge ranges from $24 - $32 per transaction, or if you're at Westpac, $20, so you save in fees by opting for World First Foreign Exchange over a regular bank.

    Minimum transfer amount and available currencies

    The minimum transfer amount with World First is $250 per transaction for all currencies except for the INR. If you would like to transfer money to India, the minimum is $10,000. Transactions over $1,000 can be made online and via the telephone, whereas transactions under this can only be carried out online.

    World First Foreign Exchange offers a huge number of available currencies, including:

    • United States Dollar (USD)
    • British Pound (GBP)
    • Hong Kong Dollar (HKD)
    • Chinese Yuan (CNY)
    • Japanese Yen (JPY)
    • Euro (EUR)
    • Indian Rupees (INR)
    • New Zealand Dollar (NZD)
    • Canadian Dollar (CAD)

    There are also a large range of other currencies such as the Swiss Franc, Mexican Peso, Thai Baht, Singapore Dollar and many more.

    The registration and transfer process

    To carry out any kind of money transfer with World First , be it for personal or business use, or for a one-off or regular transfer, you need to open an account. This is free and will only take a few moments.

    Here's how to do it:

    1. Fill in your details, including name, contact numbers, country of residence and whether or not you're making a joint application or not.
    Opening an account at World First Step 1
    1. Supply your other details, including address, reasons for needing foreign exchanges, and the currencies you require in addition to the countries you're sending money to. You'll also need to verify your identity by supplying a Medicare number or Passport number.
    Opening an account at World First Step 2
    1. Fill in your login details including username, password and security questions.
    Opening an account at World First Step 3

    To transfer money, all you have to do is either call World First or log onto your account online.

    Phone transfers

    If you're arranging a transfer by phone, you'll have to agree to a rate. You'll then receive an email confirmation within a few minutes. Then, you'll need to give World First the details of the account that it's going into.

    Internet transfers

    If you're transferring online you can fix a rate online and carry out transactions yourself. You can also manage regular payments and view your statements. To use this service you must request it from World First when signing up, and they'll supply you with a username and password.

    Once you've agreed on a rate you'll have to send your money to World First to begin the process. You can do this by going to your bank branch and making a same-day transfer, using your telephone banking or by carrying out an EFT or BPAY transfer. They also have accounts with Citibank and Westpac, so if you have an account with one of these banks you can transfer your money quicker.

    World First Foreign Exchange have accounts in Europe, America, the UK and New Zealand if you want to make a non-AUD payment or are making a payment from outside of Australia.

    Why choose World First Foreign Exchange?

    World First Foreign Exchange offers low fees, competitive rates and no commission when carrying out transfers.

    They also try to make the process easier and faster by providing local bank accounts for you to deposit your funds into, and a wide range of currencies.

    World First Foreign Exchange is regulated by the Australian Securities and Investment Commission (ASIC), and are regulated both overseas in the UK, where their parent company is and in the USA.

    What can I use World First Foreign Exchange for?

    There are many reasons you might want to transfer money, and World First Foreign Exchange can facilitate all of these.

    • Sending money back home - If you've moved to a different country and regularly send money to your home country you can do it through World First.
    • Moving overseas - If you're making the move to a new country and need to move your money there World First can help you.
    • Paying off a mortgage on an overseas property - Many Australians have invested in overseas property. If you need to make regular payments towards these properties you can organise this.
    • Sending a gift - From time to time you may want to send a money gift to family or friends overseas, or simply transfer them money to pay for miscellaneous costs or bills.
    • Business transactions - If you regularly pay international suppliers or receive money from international customers World First can help tailor a service to your needs.

    Frequently asked questions

    How long does a transfer take?

    Euro, dollar and sterling transfers are processed on the same day, so will usually reach your recipient the same day they're sent. Other currencies can take between 1 - 4 days to arrive.

    What rate will I get?

    The rate you receive will depend on World First, so you'll need to contact them or log onto your account online to get a quote.

    Can I fix a rate for a future date?

    Yes, this is referred to as a forward contract, and can be set for any date between one week and two years from the date you set it. These types of transactions may require a deposit.

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    6 Responses to World First Foreign Exchange and International Money Transfers

    1. Default Gravatar
      Alannah | April 29, 2015

      Does World First only accept transfers into foreign bank accounts? Could I get them to do a currency exchange from my Australian bank account and then deposit it back into my Australian bank account?

      • Staff
        Belinda | May 27, 2015

        Hi Alannah,

        Thanks for your enquiry.

        As is an online comparison service, we do not represent World First. However, I believe this service is only provided for transfers into foreign bank accounts.


    2. Default Gravatar
      Eritunde | November 30, 2013

      Can the sender,send money to receiver bank account,while online.

      • Staff
        Marc | December 2, 2013

        Hello Eritunde,
        thanks for the question.

        You can send money to a receive online with World First Foreign Exchange. To carry out a transfer you’ll need to open an account with World First.


    3. Default Gravatar
      Spending | November 20, 2013

      Thanks for the review. Great stuff.

      We’ve been using World First as well as a service called Exchange4Free and feel the latter offers better value and rates than World First. This is especially the case for large transfers.

      • Default Gravatar
        Greg | December 19, 2013

        Hi guys, so glad you added this mod to your website. I have been using them for years, the service they offer is second to none, I have tried other brokers and none match up, the rates I have gotten have been better than anyone else. I could not be happier with the service and value!

    Ask a question