Compare international money transfers

With a fairly weak Australian dollar (especially against the US dollar), it's important to compare your options before sending money overseas.

We've scoured the market to find the best international money transfer services based on the amount you're sending, transfer fees, exchange rates and flexible options.

Compare international money transfer companies

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25 of 38 results

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Filter Values	Finder Score	Fastest Transfer Speed	Fees (Pay by Bank Transfer)
TorFX		Finder Score 8.7 Great	24 hours	$0	TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000. Same-day transfers between AUD and NZD (under $100,000).	Go to site More info	loading
Xe Money Transfers		Finder Score 9.4 Excellent	Within minutes	$0	Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.	Go to site More info	loading
Xe Business Transfers		Finder Score	Within minutes	$0	Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 130+ currencies.	Go to site More info	loading
OFX		Finder Score 9.3 Excellent	24 hours	$0	OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.	Go to site More info	loading
TorFX Business Transfers		Finder Score	24 hours	$0	TorFX guarantees to match any competitor's exchange rate. T&Cs apply.	TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.	Go to site More info	loading
Wise (TransferWise) Most Loved		Finder Score 8.9 Great	Within minutes	From 0.63%	Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.	Go to site More info	loading
OFX Business Transfers		Finder Score	24 hours	$0	OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.	Go to site More info	loading
Xe Large Transfers		Finder Score 9.3 Excellent	24 hours	$0	Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.	Go to site More info	loading
Send Payments		Finder Score 8.4 Great	24 hours	$0	Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.	Go to site More info	loading
OrbitRemit		Finder Score 9 Excellent	Within minutes	$0-$4	Get a $0 fee and special promotional rate on your first transfer with OrbitRemit. T&Cs apply.	OrbitRemit sends to over 45+ countries for a flat fee and transparent exchange rate.	Go to site More info	loading
TorFX		Finder Score 8.8 Great	24 hours	$0	TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000. Same-day transfers between AUD and NZD (under $100,000).	Go to site More info	loading
OFX		Finder Score 9.1 Excellent	24 hours	$15	OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.	Go to site More info	loading
Remitly		Finder Score 9.3 Excellent	Within minutes	From $0	Remitly has quick, affordable transfers around the world, with both express and economy options.	Go to site More info	loading
WorldFirst		Finder Score	24 hours	From $0	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.	Go to site More info	loading
Rocket Remit		Finder Score 7.4 Great	Within minutes	From $0 to $5	Send money instantly to friends and family in over 45 countries using just your mobile number.	Go to site More info	loading
Send business		Finder Score	24 hours	$0	Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.	Go to site More info	loading
MoneyGram		Finder Score 8.3 Great	Within minutes	Varies	MoneyGram has fast cash pick-up transfers to more than 440,000 agent locations worldwide.	Go to site More info	loading
Send Payments		Finder Score 8.1 Great	24 hours	$0	Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.	Go to site More info	loading
Revolut		Finder Score 8.7 Great	Within minutes	From 0.15%	Sign up and get a AUD$15 top-up. For new customers only. T&Cs apply.	Send money with great rates and low fees in 40+ currencies. Plan fees apply.	Continue More info	loading
Qantas Business Money		Finder Score	Within minutes	$0	Earn 1 Qantas Point on every $1AUD equivalent converted in foreign currency. T&Cs apply.	Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.	Continue More info	loading
CurrencyFair		Finder Score 8.6 Great	24 hours	€3	New customers get 10 fee-free transfers for the first 6 months. T&Cs apply.	CurrencyFair has bank-beating exchange rates and fast transfer times on 20+ popular currencies.	Continue More info	loading
CurrencyFair		Finder Score 8.5 Great	24 hours	€3	New customers get 10 fee-free transfers for the first 6 months. T&Cs apply.	CurrencyFair has bank-beating exchange rates and fast transfer times on 20+ popular currencies.	Continue More info	loading
Revolut Business		Finder Score	Within minutes	$0	Revolut allows your business to move money around the world quickly and cheaply with 30+ currencies and no maximum limit transfers. Plan fees apply.	Continue More info	loading
Airwallex		Finder Score	Within minutes	$0	0% foreign exchange margin and $0 fees on your first $20,000. T&Cs apply.	Streamline global payments across 150+ countries with fast settlements and competitive rates in over 60 currencies.	Continue More info	loading
CurrencyFair		Finder Score	24 hours	€3	CurrencyFair has bank-beating exchange rates and fast transfer times on 20+ popular currencies.	Continue More info	loading

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How we picked these

Finder Score for money transfer

We review money transfer providers for different features to assign them a score out of 10. The higher the score, the more competitive the product.

Read the full methodology

We only list services regulated by ASIC or AUSTRAC.

Every service we compare has been reviewed by our editorial team.

What is an international money transfer?

An international money transfer is the process of sending money between people or financial accounts in different countries.

Typically, you need to give a bank or money transfer service your recipient's details and the money you want to send.

They will convert your funds to the currency of your choice and electronically send the payment to your recipient.

Depending on the money transfer provider, you will be able to send funds online, via mobile app, over the phone or in person.

Every day, trillions of dollars are transferred between people and businesses all over the world.

Best (and cheapest) ways to transfer money overseas

Compare money transfer services

Best banks for international money transfers

As of February 2025, NAB, HSBC and CommBank are some of the best banks for international transfers, offering fee-free transfers on certain international money transfers.

If you're looking to receive money from overseas, Westpac waives its fee on transfers under the value of $100.

In terms of conversion fees, most banks typically charge a 2% to 6% markup onto exchange rates and can charge extra for receiving money from overseas.

How to send money using an online money transfer service

Sending an international money transfer through an online service is simple:

1. Compare services, and select one that suits your needs.
2. Create an account by entering personal details such as your name, email, address and phone number.
3. You may need to submit a scanned copy of your personal ID (i.e. passport photo or driver's license) and proof of address to qualify for higher transfer limits.
4. Link your bank account, debit card or credit card to your newly-created account, so you can pay for transfers. Alternatively, you may need to transfer funds from your bank account.

Most of the time, you can access your account immediately after submitting the required information. For some services (particularly transfer services for businesses), there may be a delay while your information is reviewed and a transfer specialist is assigned to your account.

Our expert says

"Don't just choose your bank! Specialist money transfer services have much cheaper rates. Loyalty to a single provider doesn't pay off either - if you regularly need to send money to family, compare to make sure that you're still on the best deal."

Angus Kidman

Editor-at-large

What do I need to send and receive money abroad?

Make sure you have the following on hand when making an international money transfer.

• Your personal details. Name, phone number, and government-issued identification like a driver's license or passport. Additional details may be required for security purposes, particularly for very large transfers.
• Your recipient's personal details. Name, phone number and residential address.
• Your recipient's bank information. Bank name, address, routing number, SWIFT code and your recipient's account number.
• Payment. Check beforehand what types of payment methods are acceptable. For example, not all money transfer services accept credit cards.

You don't need any particular documents other than a government-issued ID. However, it is worth knowing that money transfers over $10,000 get automatically reported to Australia's regulatory body, AUSTRAC.

How much does it cost to transfer money internationally?

The cost of sending money overseas varies between service providers. Factors like the type of transfer, destination country and amount being sent affect your total cost.

Generally, banks and money transfers services make money from international transfers in two ways:

1. Transfer fee. This is typically a flat fee or a percentage of the transfer amount.
2. Exchange rate margin. Most banks and money transfer services make a profit by adding a markup to the mid-market rate (the "true" exchange rate between two currencies). To save money, look for services that have as small a markup as possible.

Services that charge no transfer fee sometimes make up for it with a poor exchange rate. This is why you should review the total transfer cost, not just the fee or exchange rate.

Let's crunch the numbers: Sending $10,000 to the US

According to our research, using a money transfer provider could save you $244.99 on a $10,000 transfer to the US.

We've compared the likely cost of sending money to the US using a money transfer service or an Australian bank.

CBA adds a 4.13% markup on the USD exchange rate while OFX just adds a margin of 0.51%.

This isn't surprising as an inquiry by the ACCC in 2019, found that the big four banks were rarely the cheapest option.⁶

Compare money transfer services

What's the fastest way to send money internationally?

Providers such as Wise, WorldRemit and Western Union offer quick and near instant money transfers.

Here's a breakdown of your options if you're looking to send money overseas within 24 hours:

"With all my family and friends overseas we end up transferring money back and forth to eachother a lot. So I've tried and tested a few ways to send money. Some of the banks can stack up the fees and make it so much more expensive, but if you take a look at some of the top providers like Wise or Revolut it can save you a lot."

Rebecca Pike

Editor, Money

Money Transfer Customer Satisfaction Ratings

We asked 800+ people to rate their favourite money transfer provider based on value for money, customer service, features and more – here's who came out on top. Wise topped the charts, followed by PayPal and Remitly.

Sending to a specific country?

• New Zealand

• China

• India

• Nepal

• The Philippines

• UK

• USA

• Vietnam

View all countries

Frequently asked questions

• What is the cheapest way to transfer money internationally?

  Normally, using a bank transfer to fund your international money transfer is the cheapest way to send money overseas. Fees and options vary between providers, so the cheapest option depends on which service you choose and how you transfer the money.

• How long does an international money transfer take?

  In general, if you pay with a credit or debit card, your money will arrive fast — often within the day. Paying by bank transfer is slower and can take up to 2-4 business days to process. Check out our guide on factors that can affect your transfer to learn more.

• What is the best international money transfer company?

  Some of the best services for international money transfers are TorFX, Xe, Wise and Instarem based on fees, exchange rates and speed.

• Which bank is best for international transfers in Australia?

  As of February 2025, Macquarie, NAB, HSBC and CommBank are some of the best banks for international transfers as they waive fees on certain international transfers, but you're still likely to save more money using a dedicated international money transfer service.

• Can I transfer money internationally instantly?

  It's possible to send money within seconds up to an hour if you use Wise, WorldRemit or Western Union. Funds transferred electronically typically pass through a national clearinghouse and other intermediary financial networks before being released to your recipient. If you opt to send an international money transfer with an instant cash transfer, then this could be available for collection as cash within as little as 20 seconds.

• Are there maximum sending limits for international money transfers?

  Legally, there are no limits on the amount of money you can send out of Australia. Providers such as TorFX and OFX have no maximum transfer limit. However, money transfers over $10,000 get reported to automatically AUSTRAC.

• Do you need a BSB code for an international transfer?

  You don't need a BSB number for international transfers as they are only used for domestic transfers in Australia. Instead, you will need a SWIFT code for international transfers.

• What is a cash pickup?

  A cash pick up allows your recipient to pick their money up in cash from a physical location. Cash pickups can be fast and convenient, and are available worldwide. They allow your recipient to have instant access to the money you sent, without needing a bank account.

  If you need to send money overseas to a loved one without a bank account, then you can use a money transfer specialist which offers cash pickups. These transfers are fast and secure, with pickup locations available across the globe. However, you need to watch out for weaker exchange rates and higher fees compared to deposit transfers.

• How does cash pickup work?

  Cash pickup services vary from company, but typically they require 4 simple steps:

  1. Place your order. You submit your recipient's contact information, the amount you're looking to send and other details either through the money transfer company's site or its storefront. Some providers require you to choose a specific location for pickup. Take care to enter your recipient's name as shown on their ID to avoid any issues with pickup.
  2. Wait for processing. The processing time for your transfer will depend on which provider you use, but most expedite cash pickups. Once processed, you will receive a transfer reference that your recipient can use at pickup - and that you can use to track the progress of your transfer.
  3. Recipient picks up cash. Your recipient picks up the cash from the location you have specified, or at a convenient location in the company's network. They will need to take your transfer reference number with them, as well as some official ID.
  4. Get confirmation. After your recipient picks up the money transfer, you should receive a text or an email confirming the time and location of the cash pickup. Alternatively, you can track the transfer with your transfer reference number.

• When is the best time to transfer money?

  To avoid busy periods at the beginning and end of the month, it's better to transfer money halfway through the month. Doing this will ensure your transfer arrives on time as there is a lower chance of delays because it's an off-peak time.

• How to make sure my international money transfer is safe?

  Many money transfer services implement industry-standard measures for protecting your personal data and money, similar to banks. This can include data encryption, SSL certificates, multi-factor authentication and regular monitoring to detect and prevent fraudulent activity.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten as part of our fact-checking process.

Written by

Sarah Megginson

Personal finance expert + media spokesperson

With over 20 years of experience in property, finance and investment journalism, Sarah is a trusted expert whose insights regularly appear across television, radio, and print media, including Sunrise, ABC News, and Yahoo! Finance. She has previously served as managing editor for Your Investment Property and Australian Broker, and her expert advice has been shared in the media over 3,500 times since 2023 alone. Sarah holds a Bachelor’s degree in Communications and a Tier 1 Generic Knowledge certification, which complies with ASIC standards. See full bio

Sarah's expertise

Sarah has written 211 Finder guides across topics including:

• Home loans
• Personal finance
• Budgeting and money-saving tips
• Managing the cost of living