Business Leases with an International Money Transfer Service

Guide to paying business lease costs with an international money transfer service

Avoid costly bank charges and use a dedicated money transfer provider to get a better rate and fewer fees when paying business lease costs.

There are many costs associated with leasing commercial (or virtual) premises. These costs are additional to the rent and can be quite significant, especially if they are ongoing and increase during the lease. If your business needs to pay overseas lease costs, it’s even more expensive.

Using a dedicated international money transfer service to pay international business lease costs will save you more money than using your local bank. Use our free international money transfer calculator below to find one suitable for your business. Enter your transfer amount and destination, and if you want to read more about a product, click “More”, or click “Go to Site” to source a quote.

Instantly compare international money transfer providers below

Rates last updated November 21st, 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.
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.
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.
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

Benefits of choosing a dedicated money transfer provider to pay business lease costs

If you have used your bank to make money transfers for years, why change your payment method now?

Most banks and sites like PayPal will charge their customers a fixed percentage fee on international money transfers for using their services, and this “processing fee” can be up to 5% for exchanging or transferring money. In addition, you are also facing less competitive exchange rates and cross-border currency conversion costs, so if you are a business that deals in multiple currencies you’re losing out.

Here are some reasons why your business should opt for online money transfers to pay business lease costs:

  • Competitive exchange rates. Money transfer companies often offer much more competitive transfer rates compared to banks, saving you money.
  • Lower fixed fees (or no fees at all!). Many dedicated money service providers allow you to send money overseas without fees.
  • Flexible and fast. Money transfer methods are desktop-, mobile- and tablet-ready, meaning you can transfer money on the go as long as there is internet, making it a very convenient option for a business.
  • Secure data. Many online transfer companies provide a level of data security to rival your bank's. Provided you do your research, you can feel confident that your data is in safe hands. Some signals that your money transfer company takes data security seriously include a high volume of transfers, Secure Socket Layer encryption at a website level, encryption of payment and transaction data and a dedicated in-house fraud detection team.
  • Regulated. Money transfer providers are regulated in the same way that banks and other financial institutions are, so your money and bank details are safe and secure.
  • Merchant software integration. Some online money providers integrate very well with accounting software like Xero, which can help you keep track of your invoices.

Case study: Tiffany pays business lease costs in New York

Tiffany lives in Sydney, Australia and runs an online ecommerce site. She has just taken out a new business lease in New York, as she has expanded the business and has her business partner working from the new office in the United States. Tiffany needs to pay her landlord US$1,000 in rent per week.

Tiffany does some research on the best way to pay her rental costs. She considers using her local bank but decides to compare the costs against a dedicated online money transfer provider. She makes a table to compare the costs and realises that by using the money transfer provider she will save money on fees and also receive a better exchange rate.

BankMoney transfer provider
Transfer amountUSD$1000USD$1000
Transfer feeAUD$22AUD$8.89
Exchange rateAUD$1 = USD$0.7479AUD$1 = USD$0.78760
AUD needed to send USD$1000 (incl. fee)AUD$1,359.07AUD$1,278.57
Money saved+AUD$80.50

By using a money transfer provider, Tiffany can save up to AUD$80.50 each week when she transfers her rental payments to her landlord in New York. Over the entire year, this could add up to a saving of AUD$4,186 for Tiffany, simply by comparing her options.

*Rates and fees quoted in the table are correct on 10 August 2017. Always source a quote for current rates and fees.

Additional costs associated with business leases

The biggest cost of a lease is likely to be ongoing rental payments. Paying rent is part of the lease, but paying extra fees on top of paying your rent can definitely be avoided. Global businesses that need to send money overseas are better off going with an international money transfer service. They provide better exchange rates and lower fees than your average bank or mainstream company like PayPal.

However the costs don’t stop with the rent. It’s important to be aware of any expenses that could be, and often are, added onto your business lease. Some of the possible additional costs of your business lease include:

  • Operating expenses or outgoings
  • Insurance costs
  • Legal costs
  • Security bond cost
  • Fit-out and condition of premises costs
  • Refurbishment costs
  • Marketing and promotional funds

As we’ve seen in the above case study, using your bank each time you need to pay one of these additional costs means you’ll be paying more in unnecessary fees. You’ll also be receiving a less competitive exchange rate compared to using a dedicated money transfer service.

Got it – what do I do now?

As we’ve seen with the case study above, it pays to shop around. Now it’s time to compare your options. Use our table above to compare money transfer providers. When you’ve chosen a few you think look suitable for your needs, click ‘Go to Site’ to source personal, up-to-date quotes.

Alison Banney

Alison Banney has been writing about banking and personal finance for more than six years. She has previously worked at one of Australia's biggest banks, Westpac, before joining finder.com.au as the Senior Banking and Investment Writer.

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