Money Transfer Finder™: Compare international money transfer services

Get the best rates and fees when you send money abroad.

There are more foreign exchange services than ever before and they can help you send money overseas in minutes. Whether you need to send money back home or pay an employee based in another country, specialist international money transfer companies can often give you a better deal than your bank.

International Money Transfer Offer

TorFX International Money Transfers

  • 0% commission and no fees
  • Segregated accounts
  • Fast, free money transfers
  • Free market updates

International Money Transfer Offer

TorFX has no charges and 0% commission that lets you save on fees with a competitive exchange rate.

  • Minimum transfer amount: $200
  • Online transfer fee: $0
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Compare some of the best money transfer services

Use the currency transfer calculator tool below by entering the amount you want to send and choosing the currency you are sending to. If you're looking to send physical cash internationally for your recipient to pick up, take a look at our international cash transfer page instead.

Rates last updated December 10th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Bank Account to Bank Account
TorFX guarantees to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.
WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone, Bank Account to Bank Account
Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
*Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.
OFX (Ozforex) International Money Transfers
AUD 250
1 - 2 days
Online, Phone, Bank Account to Bank Account
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
WorldRemit International Money Transfers
AUD 1
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Global Reach (formerly FC Exchange) International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
XE International Money Transfers
AUD 10,000
1 day
Online, Bank Account to Bank Account
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Transfer amounts as low as $50. No maximum transfer amount. No transfer fees if you transfer more than AU$10,000.
FlashFX International Money Transfers
AUD 200
1 day
Online, Bank Account to Bank Account
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees.
Exclusive: InstaReM International Money Transfers
AUD 200
1 - 2 days
Online, Phone, Bank Account to Bank Account
Exclusive: finder customers receive $15 off their first transaction. T&Cs apply.
InstaReM offers simple and quick international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction, plus finder customers receive $15 off first transfer (T&Cs apply).
TransferWise International Money Transfers
AUD 1
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
Remit2India International Money Transfers
AUD 50
Same day
Online, Bank Account to Bank Account
Instant transfers to India from anywhere in the world with $0 transfer fees.
New customers who create an account with Remit2India and make a transfer of AUD$500 or more for the first time will receive a complimentary $25 Coles/Myer e-voucher. Click 'Go to site' for T&Cs.
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.

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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

What's in this guide?

  • Why trust us? Our research team has spent thousands of hours meticulously researching every money transfer provider we compare (and many that we don't). Our editorial guidelines underpin all of our guides, and you can be sure that the information we present is accurate, unbiased and thoroughly vetted.

What is an international money transfer?

An international money transfer allows you to send money to a recipient internationally. You provide funds and your recipient’s details to a bank or an independent transfer provider, which then exchanges the money into your desired currency and sends it to your recipient.

Depending on the provider, a transfer can be done in person, over the phone, through a mobile app or online. Again, depending on the provider, you can use cash, a credit or debit card, or transfer funds from your bank account. Then, the funds will either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country. Delivery of the funds varies from provider to provider.

How do money transfers work?

The following steps give a good example of a typical transfer using a money transfer company.

  1. Register online with the transfer service of your choice.
  2. Input transaction details, including the amount you want to transfer.
  3. Get approved by the transfer company. You may need to scan or email a copy of your ID for the first transaction.
  4. Transfer funds through your bank using the account details from your transfer company.
  5. Get your money. Your transfer service will deposit your funds in your destination account.

If you choose to use a bank to carry out your transfer, the process is a little different.

  1. You will need to be able to send money online with your current bank.
  2. You'll usually need to know the address of the receiving bank, the account details of the receiving account, the account name and often the receiving bank's SWIFT code (an international bank identification system).
  3. It's a good idea to check with your bank about exchange rates.
  4. You can use this method to send an international money order online to your home bank account or to a third party.

Just some of the brands we compare

World First logo money transfer HIFX logo OFX Logo TORFX Logo
Global Reach logo XE Logo ANZ Logo Logo for WorldRemit
Western Union logo money transfers FlashFX Logo paypal Logo cba logo money transfers

How much will a money transfer cost?

There are two ways that a provider makes money on your transfer. The obvious one is the transaction fee, but the sneakier one is what your bank or transfer service marks up on the exchange rate.

Fees

Most providers either charge a set fee per transaction or a percentage of your total transfer amount. To save on fees, keep an eye out for special deals.

Some providers offer first transfer free deals for new customers and promo codes so you can get discounts on your second and third transfers. But even with these fees, you’ll find that using a company that specialises in international money transfers is far cheaper than bank-to-bank telegraphic transfers.

Keep in mind that a lower fee doesn't necessarily translate to the biggest savings. A lower fee might be accompanied by a poor exchange rate, negating any savings from the low fee.

Exchange rate

The exchange rate determines how much one country’s currency is worth in another currency. Most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Most transfer services will advertise the real exchange rate, or "mid-market rate" – the midpoint between the buy and sell prices of two currencies on the global market. But when it comes time to make your transfer, you'll notice you almost never get this rate. The provider will mark up the exchange rate – and pocket the difference.

Using a provider that offers the most competitive exchange rate could save you hundreds on your transaction.

Exchange rate updates in real time

Refreshing in: 60s | Mon, 10 Dec 05:32am GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.3855 Inverse: 0.7218 1.3303 Inverse: 0.7517 0.8747 Inverse: 1.1432 6.8921 Inverse: 0.1451 0.7844 Inverse: 1.2749 71.3359 Inverse: 0.0140 20.2561 Inverse: 0.0494 52.5693 Inverse: 0.0190
1 AUD = 0.7218 Inverse: 1.3855 1.0000 0.9602 Inverse: 1.0415 0.6313 Inverse: 1.5839 4.9745 Inverse: 0.2010 0.5661 Inverse: 1.7663 51.4880 Inverse: 0.0194 14.6202 Inverse: 0.0684 37.9428 Inverse: 0.0264
1 EUR = 1.1432 Inverse: 0.8747 1.5839 Inverse: 0.6313 1.5209 Inverse: 0.6575 1.0000 7.8792 Inverse: 0.1269 0.8967 Inverse: 1.1152 81.5526 Inverse: 0.0123 23.1572 Inverse: 0.0432 60.0983 Inverse: 0.0166
1 GBP = 1.2749 Inverse: 0.7844 1.7663 Inverse: 0.5661 1.6960 Inverse: 0.5896 1.1152 Inverse: 0.8967 8.7867 Inverse: 0.1138 1.0000 90.9455 Inverse: 0.0110 25.8243 Inverse: 0.0387 67.0202 Inverse: 0.0149

Tips for saving on your international transfer

There’s no one best way to transfer funds overseas. It depends on how much you’re sending, how soon you need it to get there and the exchange rates at the time. Below are a few tips you can use when sending money overseas.

  • Know your transfer currency's mid-market rate. This rate is the midpoint between worldwide supply and demand for that currency – and the rate banks and transfer services use when they trade among themselves. Use it as a baseline to compare against the rates you're being offered. The company that's closest is offering you the best rate.
  • Send more money per transfer. Many services discount the fees or waive them altogether when you send larger amounts.
  • Use forward contracts and limit orders if sending money regularly. A forward contract allows you to lock in a favourable exchange rate for future transfers. This means you'll avoid unpredictable movements in exchange rates. A limit order allows you to wait until a favourable exchange rate is found, and then lock it in for your transfer.
  • Send same-currency transfers. It can sometimes be cheaper to transfer AUD to your recipient, allowing them to transfer the dollars into their own currency when received. Depending on the situation, your recipient could pay lower fees overall.

Business or personal?

Consider the purpose of your transfer. Are you sending money to friends and family overseas, or are you a business looking to pay for goods and services, potentially regularly?

For business owners, time is our greatest commodity. Without time to research our options, we often end up going with our bank. But a little planning can set you up for significant savings on your transfers. For example, if you send transfers of $1,000 every week, you could save $40 each time. That's a saving of $2,000 a year simply by choosing a competitive independent service over your bank.
How does a business money transfer work?

Instant cash transfers

Many online money transfer providers allow you to send and receive cash almost instantly. Transferring the money into a bank account might take a few days, and bank-to-bank transfers can also take a few days to clear. If you need to send a same-day or emergency transfer, there are providers that allow your recipient to pick up cash quickly, often within an hour.

How do I compare international money transfer providers?

exchange rates icon

Exchange rates

This is the rate at which your money will be converted to your target currency. Some transfer providers offer lower fees but weaker exchange rates, while others charge no fees but profit from the margin between its rate and the mid-market rate. Compare the total cost of your transfer to make sure you're getting the best exchange rate on your transfer.


Money transfer fees icon

Fees

Your bank or transfer provider will usually charge a fee for making a transfer. Fees can vary widely depending on who you’re transferring with. Generally, fees come in the form of a flat fee (such as $5 for transfers up to $5,000) or a percentage of your transaction (such as 1% of your transfer amount).


Money transfer options icon

Transfer options

Independent transfer services like OFX and World First offer competitive exchange rates and no fees. If you want to send and receive cash right away, compare options like WorldRemit and TorFX. Bank-to-bank transfers are safe and convenient but typically not your cheapest or fastest option.


Money transfer coin stack icon

Amounts

The best method for transferring money might depend on how much you want to send. If you're making a transfer of five figures or more, you'll want to make sure you're getting the best exchange rate – especially since providers encourage large transfers by offering low fees. If you're sending a small amount to friends or family, it's wise to also consider any fees you'll pay on top of the exchange rate.


Money transfer frequency icon

Frequency and purpose

Sending a one-time transfer differs from sending regular transfers, whether to pay for bills like an overseas mortgage payment or for goods and services. With a one-time transfer, you may put more weight on speed and flexibility in delivery, such as cash pick-up. But if you're sending recurring payments, you'll want to set up regular transfers that can save you the most on rates and fees over the long term.


Money transfer speed icon

Speed

Sometimes you or a loved one are in an emergency and need funds quickly – and in cash. Thankfully there are global money transfer providers with tons of agent locations that allow your recipient to pick up the funds in cash, often within minutes. However, if you have a little more time, consider an independent transfer provider that can get you much lower fees and stronger exchange rates.


Your best exchange options are online

The rise of online money transfer services gives you more options — and stronger rates — than ever before. These services specialise in safely moving money internationally, saving you frustration when making or receiving regular payments.

Expat passport icon

For expats

Whether you’re putting roots down in France, opening an office in Japan or spending while vacationing in the US, compare to get the best exchange rates and lowest fees on sending money internationally.

Overseas property icon

For owners of overseas properties

Buying, selling or investing in a property abroad? Compare transfer services to make your purchase safely, whether closing on your dream home or scheduling recurring payments.

Stack of dollar bills icon

For larger international payments

Maybe you’re ready to buy that boat you’ve been eyeing. It could be time to pay off your child’s education abroad or support their destination wedding. Perhaps you’re coming into an inheritance that needs to be transferred to your Australian account. When transferring big money, it all comes down to the exchange rate.

How important is the exchange rate?

A solid exchange rate is crucial. When it comes to larger amounts, even two cents in your favour can save – or cost you – hundreds of dollars. If you have the luxury of time, you may be able to take advantage of a limit order. A limit order allows you to set a target exchange rate with a service or broker, which monitors the markets 24/7 to ensure you don’t miss that target. Once rates meet what you’re looking for, you give the OK to complete the transfer. Services like OFX offer free limit orders for transfers of $35,000 and more.

Sending $5,000 to India

ServiceTransfer feeExchange rate (AUD / INR)AUD amountINR amount
WorldFirst$0₹50.28$5,000₹251,399
Currency Online$0₹50.229$5,000₹251,146
HiFX$15₹50.254$5,015₹250,519
Commonwealth Bank$12₹48.40$5,012₹241,420
ANZ$18₹48.362$5,018₹240,940

Data is correct as of 03/08/2018

As you can see in the table above, each company is offering different exchange rates.
Some have transfer fees as well. In this case, WorldFirst is offering both the better exchange rate and the lowest transfer fee.

However, this may not always be the case. When comparing transfer providers, remember to pay close attention to the exchange rate. The difference of a few cents can end up a lot more when transferring large amounts.

What are the things to avoid when sending an international money transfer?

Watch out for the following issues when you send money overseas:

  • Hidden fees. Read the fine print to make sure you’re aware of any fees that apply to your transfer. Once you know the total cost of a transaction you can make an informed decision on whether to go ahead.
  • Mid-market rates. If you see a great exchange rate advertised on a provider’s website, make sure the rate you see is the rate you will actually receive. Some companies advertise the mid-market exchange rate, which is the rate at which banks purchase foreign exchange, rather than the rate they actually offer their customers.
  • Failing to do your research. If you want to save some money, compare several transfer providers before choosing one to handle your transaction. Shop around for a company that offers reliable and affordable transfers, instead of just diving in head first.

Exchange rates from AUD to other currencies

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Common questions about money transfers

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International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.

WorldFirst International Money Transfers

Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.
*Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

Ask an Expert

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75 Responses

  1. Default Gravatar
    SimonApril 20, 2017

    How much is $100 to Zambian kwacha?

    Is possible that someone living in another Country can receive the money using Money Gram by just using his/her name and the Country?

    • finder Customer Care
      HaroldApril 21, 2017Staff

      Hi Simon,

      Thank you for your inquiry.

      1. How much is $100 to Zambian kwacha?
      Answer – In general, US$ 100 =520 833.33 Zambia kwacha. Please note conversion rate differ based on your preferred provider.

      2. Is possible that someone living in another Country can receive the money using Money Gram by just using his/her name and the Country?
      Answer – Money Gram is available in over 197 countries. You can check your further options through here.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    MaggiAugust 20, 2016

    Friends have sold their properties in USA and are moving to Australia to live they have their super etc. They have made enquiries with their bank and western union and have found they will loose about 15% if transferring to a bank, They wish to buy a home here and that amount affects their options. Someone mentioned the money market but they do not know how to go about this, Can you help?

    • finder Customer Care
      ClarizzaAugust 22, 2016Staff

      Hi Maggi,

      Thanks for your question.

      We are a comparison website and as such, provide general advice only. There are migrant bank accounts specially designed for people who intend on moving to Australia. Migrant accounts come with different features and may waive certain fees for a period of time if you open an account before you arrive in Australia. Be sure to check the fees in detail though as each product charges different fees and have different features.

      You may also find our Moving to Australia from the U.S helpful. Hope this helps.

      Regards,
      Clarizza

  3. Default Gravatar
    GeorgeAugust 16, 2016

    what is the cheapest method of transferring Australian currency for the purchase of property in Cyprus

  4. Default Gravatar
    KarenJuly 12, 2016

    USD transfer sent from HSBC to the USA, Bank of New York Mellon, Western Union Business Solutions and finally to a USA based credit union.

    I am not concerned about the exchange rate, though I would like an idea of how long this would take in business days.

    Your estimates above are confusing.

    Also would it have been any different if the transfer had of just been from HSBC directly to the USA based credit union?

    Many thanks.

    • finder Customer Care
      ClarizzaJuly 27, 2016Staff

      Hi Karen,

      Thanks for your comment.

      Our table shows HSBC transfer could take 1 to 2 business days online if transferred only or 3 to 5 business days if transferred via phone transfer.

      Hope this helps.

      Clarizza

  5. Default Gravatar
    JohnJune 4, 2016

    Can I recharge another bank’s travel card (Mastercard) through you?

    • finder Customer Care
      ShirleyJune 6, 2016Staff

      Hi John,

      Thanks for your question.

      Unfortunately you can’t do this through an international money transfer. You will need to recharge via the card’s outlined processes.

  6. Default Gravatar
    OssieMarch 15, 2016

    Hi, I don’t know where or how often you get you rates but when I log into OFX their quoted rate here and there member rate after login on $350000 is different by $5000 (loss).
    What they quote on their home page is different to the actual rate you get at transaction time. ($5000 lose) I have used them for years but I find this a bit false advertising.
    Why is this?

    • finder Customer Care
      ShirleyMarch 16, 2016Staff

      Hi Ossie,

      Thanks for bringing this to our attention, it seems that it’s a technical issue.

      All finder customers should be receiving the exclusive rates and your accounts should be reflecting this.

      Please call OFX directly as it will be rectified through them.

  7. Default Gravatar
    JosevaMarch 2, 2016

    How do I get a record of my money transfers to overseas for the last 12 months?

    • finder Customer Care
      ShirleyMarch 2, 2016Staff

      Hi Joseva,

      Thanks for your question.

      The best way is to probably get in touch with whoever facilitated your transfer. If you could let us know which service it was, I can get a phone number for you.

  8. Default Gravatar
    tiFebruary 13, 2016

    Im receiving money from london but in the currency of usd.
    How much roughly will the transfer & conversion fee be?

    • finder Customer Care
      ShirleyFebruary 15, 2016Staff

      Hi Ti Jay,

      Thanks for your question.

      Please use our calculator on the page to help you figure this out. It will depend on the amount you transfer.

  9. Default Gravatar
    NigeJanuary 7, 2016

    Hi,
    I am travelling to Thailand from Australia next week. I am having several procedures at hospital and also staying for 7 weeks in total. Due to circumstances my funds($45000 Aus dollars)will not be available until the day after i leave. After previous trips i do not want to use my bank as the fees and exchange rate is not acceptable. I do have someone who can send my funds to me and i also have access to my Thai partners account. What is the best way in regard to time and exchange and fees to transfer the money to Thailand so i access it and turn it into cash.Thanking you in advance.

    • finder Customer Care
      ShirleyJanuary 8, 2016Staff

      Hi Nige,

      Thanks for your question. Please note that we can only provide general advice in regards to the products we display.

      I’ve put your figures into our comparison tool, there are a few options available that you may want to consider.

      TorFX offer a best rate guarantee, don’t charge any fees for your particular transfer and can complete the transfer within 1 business day.

      World First and Currency Solutions both offer a competitive exchange rate for the THB but can take up to 2 business days for the transfer to be processed.

      Cheers,
      Shirley

  10. Default Gravatar
    Pan054October 30, 2015

    At least for Aus$ transfers: it works as a ‘peer to peer’ transfer, Transfer Wise takes much longer than the stated 1 day (3-7 days more likely if you use bank transfer), does not give you certainty of transfer rate at the time that you close a deal, or that your money will be transferred at all if the transfer rate were to fall. They promise to return your money after 5 days though.

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