Best money transfer services in Australia 2026

Our verdict: For most people sending money overseas from Australia, Wise is the best all-rounder because it converts at the mid-market rate and shows its fee upfront. Revolut suits small regular transfers, TorFX suits large transfers, Instarem suits fast transfers, Western Union suits cash pickup and Qantas Business Money suits businesses that want Qantas Points.

The best international money transfer service depends on how much you're sending, where it's going and how fast it needs to arrive. We compared 26 money transfer services on total cost, exchange rate margin, speed, limits and regulation, then picked the best provider for six common needs.

Best money transfer services at a glance

Best for	Provider	Why it wins	How it charges	Australian regulation
Exchange rates	Wise	Converts at the mid-market rate, so there's no hidden margin	Visible transfer fee, from 0.1% on large amounts	AFSL 513764, APRA-authorised purchased payment facility
Small transfers	Revolut	No extra exchange fee on weekdays up to your monthly fair usage limit	0.5% above the limit, weekend markup on some plans, transfer fee shown in app	AFSL 517589, AUSTRAC Remittance Sector Register
Large transfers	TorFX	No transfer fees and better rates as amounts grow	Margin built into the exchange rate	AFSL 246838, AUSTRAC regulated
Fast transfers	Instarem	Many transfers arrive within minutes	Fees and margin vary by currency and payment method	AFSL 464627 (NIUM Pty Ltd), AUSTRAC reporting entity
Cash transfers	Western Union	Cash pickup in about 200 countries and territories	$0 fee on your first online transfer, margin built into the rate	AUSTRAC registered remitter, see note below
Business transfers	Qantas Business Money	Earns 1 Qantas Point per A$1 converted	1.75% to 2.33% exchange rate margin	Powered by Airwallex

Licence numbers are taken from each provider's own Australian disclosure documents. Always confirm current fees in the provider's app or quote screen before you send.

Note on Western Union: On 1 September 2026, AUSTRAC announced an enforcement investigation into Western Union Financial Services (Australia) Pty Ltd and The Western Union Company over its anti-money laundering controls. AUSTRAC said no enforcement outcome has been decided.

• Best for exchange rates: Wise
• Best for small transfers: Revolut
• Best for large transfers: TorFX
• Best for fast transfers: Instarem
• Best for cash transfers: Western Union
• Best for business transfers: Qantas Business Money

What it costs to send A$1,000 overseas

The fee you see upfront is only part of the cost. The bigger cost is often the exchange rate margin: the gap between the rate a provider gives you and the mid-market rate (the midpoint between buy and sell prices on global currency markets). The ACCC's 2018 foreign exchange inquiry issues paper found the big four banks were charging exchange rate markups of around 4% to 5% on foreign currency transfers.

Here's how that margin adds up on a A$1,000 transfer, before any transfer fee:

Exchange rate margin	What you lose on A$1,000	Typical of
0% (mid-market rate)	A$0	Wise, Revolut within weekday fair usage limit
0.5%	A$5	Revolut above fair usage limit
1.75% to 2.33%	A$17.50 to A$23.30	Qantas Business Money (published range)
4% to 5%	A$40 to A$50	Big four bank markups (ACCC, 2018)

Sending A$1,000 to the USA: what each provider costs

Indicative, as at November 2026. When we checked on 10 November, Wise charged A$5.06 to send A$1,000 from an Australian bank account to a US bank account. Check the provider for a live quote, because exchange rates change by the second.

Provider	Transfer fee	Exchange rate margin	What drives the total cost
Wise	About A$5 (roughly 0.5%), per Wise's AUD to USD comparison page	0% (mid-market rate)	The fee is the whole cost, so what you see is what you pay
Revolut (Standard plan, weekday)	Shown in app before you confirm	0% up to A$2,000 a month, then 0.5%	Weekend transfers add a 1% markup on Standard
TorFX	$0	Not published, built into the rate	Less competitive under about $2,000
Instarem	Varies, promotions for first transfers	Varies by currency and time	Zero-margin rates apply only to some currencies at certain times
Western Union	$0 on first online transfer, 99c via PayID	Built into the rate	Compare the received amount, not just the fee
Big four bank (typical)	Varies by bank and channel	Around 4% to 5% (ACCC, 2018)	A$40 to A$50 of margin on A$1,000, plus any fee

The ACCC's 2024 report found someone who sent A$10,000 worth of US dollars through the most expensive bank in its February 2024 sample could have saved more than $400 by using the cheapest supplier.

Popular corridors: USD, GBP, EUR, INR and PHP

Sending A$1,000 to	Wise transfer fee (indicative)	What to check
USA (USD)	About A$5	Recipient bank receiving fees on incoming international wires
UK (GBP)	About A$4 to A$5	Usually arrives by local payment, so receiving fees are rare
Europe (EUR)	Check live quote	Whether the provider pays out via SEPA (local) or SWIFT
India (INR)	Check live quote	Payout speed and whether the recipient bank charges to receive
Philippines (PHP)	Check live quote	Bank deposit vs cash pickup vs mobile wallet (such as GCash) fees

To compare like with like, enter the same amount into each provider's calculator at the same time and compare the amount your recipient will receive. That one number captures the fee and the margin together.

What to watch out for

Hidden exchange rate margins

A provider advertising "$0 fees" or "no commission" still makes money, usually through the exchange rate. The ACCC's 2019 foreign currency conversion inquiry found prices were hard to compare because some suppliers don't disclose the total price upfront. Always compare the final amount your recipient receives, not the headline fee.

Weekend rate spreads

Currency markets close over the weekend, so some providers add a buffer. Revolut, for example, adds 1% on its Standard plan and 0.5% on Plus between Friday 5pm and Sunday 6pm US Eastern Time (Saturday morning to Monday morning in Australian time). If your transfer isn't urgent, sending on a weekday can save you money.

Recipient and intermediary bank fees

When a payment travels over the SWIFT network, intermediary (correspondent) banks can deduct a processing fee from the payment itself, and the recipient's bank may charge to receive it. CommBank, for example, says it won't cover fees charged by the payee's bank. Providers that pay out through local payment networks in the destination country usually avoid these deductions, so ask how the money will be delivered.

Paying with a credit card

Funding a transfer with a credit card is usually the most expensive way to pay. Your card issuer may treat it as a cash advance, which can mean a cash advance fee and interest from day one.

Scams

Payment redirection scams cost Australians $166.8 million in 2025, according to the National Anti-Scam Centre's Targeting Scams report. If you receive new bank details by email, confirm them by phone using a number you already know before sending money.

How to send money overseas from Australia

1. Compare quotes. Enter the same amount into two or three providers' calculators at the same time and compare the amount your recipient will receive.
2. Check the provider is licensed. Look for an AFSL number on the provider's website and check it is registered with AUSTRAC.
3. Create and verify your account. You'll usually need photo ID such as a passport or driver licence.
4. Add your recipient's details. You'll need their full name, bank account number and, depending on the country, a SWIFT/BIC code, IBAN, routing number or IFSC code.
5. Choose how to pay. Bank transfer or PayID is usually cheapest. Card payments are faster but can cost more.
6. Confirm and track. Review the exchange rate, fee and amount received, then confirm. Most providers let you track the transfer in their app.

How to compare international money transfer services

• Exchange rates. Compare each provider's rate against the mid-market rate. Watch for companies that offer a great rate and then charge a high fee, or the reverse.
• Fees. Check whether the fee is flat or a percentage, and whether it's waived above a certain amount.
• Minimum and maximum transfer amounts. Minimums may be too high for small transfers and maximums too low for large ones.
• Transfer methods. Check whether you can send online, by phone or in person.
• Extras. Forward contracts let you lock in a rate for a future transfer, and limit orders let you set a target rate that triggers the transfer when the market reaches it.
• Customer service. Check support hours and whether live chat, phone and email support are available.
• Currencies and destinations. Make sure the provider supports your destination country and currency.

Methodology: How we choose these providers

Our top picks are selected from 26 money transfer services and sorted into 6 categories. Our editorial team reviews brands against the features that matter most in each category and compares them against other providers. We also take into account first-hand experience with providers and additional services we feel are relevant.

Consider your own objectives, needs and circumstances before making a decision using our top picks. Read our full methodology here to find out more.

• Large transfers criteria

  Features we prioritise:

  • Total cost for bank transfers above $10,000
  • Maximum transfer amount
  • Discounts for larger transfers
  • FX tools to hedge currency risk
  • Dedicated account manager

• Small transfers criteria

  Features we prioritise:

  • Total cost for transfers of $1,000 to $9,999
  • Mobile app user experience
  • Easy sign-up process
  • Customer service
  • Coverage
  • Transfer speed

• Exchange rate criteria

  Features we prioritise:

  • No exchange rate markup
  • Exchange rate alerts
  • Multi-currency account

• Fast transfers criteria

  Features we prioritise:

  • Delivery speeds for bank transfers
  • Delivery speeds for cash pickup
  • Same-day transfers

• Cash transfers criteria

  Features we prioritise:

  • Number of agent locations
  • Transfer speed
  • Receiving methods
  • Payment methods

• Business transfers criteria

  Features we prioritise:

  • Total cost for bank transfers
  • Forex tools to hedge risk
  • Personal account manager
  • Accounting software integration
  • Reputation

Top money transfer brands for customer satisfaction in 2026

For Finder's 2026 International Money Transfer Customer Satisfaction Awards, we surveyed hundreds of Australians to rate brands on customer service, features and benefits, fees, speed of transfer and trustworthiness and reliability.

Category	Winner	Score/5	Also recognised
Most Loved	Wise	4.4	Revolut 4.2, PayPal 4.2
Most Trusted	Wise	4.4	Revolut 4.2, PayPal 4.2
Legendary Service	Wise	4.4	Revolut 4.2, PayPal 4.2
Top Value	Wise	4.4	Revolut 4.3, PayPal 4.1
Top Rated App	Wise	4.5	Revolut 4.4, PayPal 4.3
Most Recommended	Wise	4.4	Revolut 4.2, PayPal 4.1

Frequently asked questions

• Which is the cheapest way to send $500 overseas?

  For a $500 transfer, a provider that uses the mid-market rate or charges no exchange fee on weekdays, such as Wise or Revolut, is usually the cheapest option. On small amounts, even a 4% bank margin costs about $20, so compare the amount received rather than the headline fee, and avoid providers like TorFX that are less competitive under about $2,000.

• How do I transfer money overseas without fees?

  You can't avoid every cost, but you can get close. Use a provider that converts at or near the mid-market rate, send on a weekday to avoid weekend markups, pay by bank transfer or PayID rather than card, and choose a provider that pays out through local networks so intermediary banks don't deduct fees. Revolut, for example, adds no extra exchange fee on weekdays up to your plan's monthly fair usage limit.

• Is Wise safe in Australia?

  Yes, Wise is a regulated provider in Australia. Wise Australia Pty Ltd holds an Australian Financial Services Licence (AFSL 513764) and is authorised by APRA as a purchased payment facility provider. Wise says customer money is held separately from its own funds. Wise was also rated Most Trusted in Finder's 2026 International Money Transfer Customer Satisfaction Awards.

• What's the best app for international money transfers?

  Wise had the top rated money transfer app in Finder's 2026 Customer Satisfaction Awards, scoring 4.5 out of 5, followed by Revolut on 4.4 and PayPal on 4.3. Revolut is also a strong choice if you want a multi-currency account and card in the same app.

• How long does an international money transfer take?

  Most specialist provider transfers arrive within minutes to one business day. Wise says 77% of its transfers arrive in under 20 seconds and 95% in less than a day. Transfers sent over the SWIFT network through a bank, and transfers to less common currencies, can take several business days.

• How much does it cost to send money overseas?

  The cost is the transfer fee plus the exchange rate margin, plus any intermediary or recipient bank fees. On a A$1,000 transfer to the USA, Wise charges a fee of about A$5 at the mid-market rate, while a 4% to 5% bank margin (the level the ACCC found in 2018) would cost A$40 to A$50.

• Are international money transfers reported to AUSTRAC?

  Yes. Australian providers must report international funds transfer instructions of any value to AUSTRAC, not just transfers over $10,000. The $10,000 threshold applies to carrying physical cash into or out of Australia. Remittance providers must also be registered with AUSTRAC before they can operate.

• Can I use a credit card to send money overseas?

  Yes, many providers accept credit cards, but it's usually the most expensive way to pay. Your card issuer may treat the payment as a cash advance, which can mean a cash advance fee and interest charged from the day of the transaction, on top of the provider's own fees.