Around for more than 160 years, Western Union is one of the oldest and most recognisable names in money transfers. Available in 200 countries globally and with more than 500,000 agent locations worldwide, money pickups are easy and accessible.
TorFX specialises in helping customers send large transfers abroad. Unlike other services, it requires funds to be cleared by individuals who hold TorFX accounts. The money must be sent in advance before the transaction can be performed.
WorldRemit provides a variety of transfer options, letting you send money from over 50 countries, and to more than 120 countries. It offers online, bank-to-bank and cash transfers. Similar to Western Union, the fees vary by country and situation.
Pros
Flexible payment options and quick transfer process
Like Western Union, OFX offers money transfers to many countries in a variety of currencies. But with higher maximum transfer amounts and no fees, OFX could be better if you're doing business overseas or relocating.
Pros
Offer services to over 200 countries
Wide range of transfer options available
Android and iOS apps available for mobile transfer and tracking
XE Money Transfers is an online platform with competitive exchange rates and low fees. It is often preferred over Western Union due to its strong exchange rates, lower transaction costs, and user-friendly interface. It charges $4 for transfers below $500.
Pros
A trusted and established name in money transfers
Low fees and competitive exchange rates
Offers limit orders, forward contracts and other features
Cons
Not available in as many countries as Western Union
Wise is one of the few transfer providers that offers the mid-market exchange rate. However, it also charges fees of a fraction of a percent of the total transfer plus a flat amount.
Pros
Offers mid-market exchange rates
Easy to use and quick sign-up process
Straightforward fees
Cons
Transfers to bank accounts only. No cash pick-up option
High fees can offset the benefits of mid-market exchange rates
Ria is the world's third-largest money transfer service, with more than 240,000 agent locations in 130 countries. It's known for its simple transfers, and aims to offer competitive fees and exchange rates.
As the second-largest international money transfer service in the world, MoneyGram is one of Western Union's biggest contenders. It transfers and exchanges currencies in over 200 countries and territories around the world to more than 350,000 agent locations worldwide.
Pros
Secure and reliable provider with a long track record
Extensive global network of 350,000 agent locations
Fast transfers, with same-day service in many locations
Cons
Maximum online transfer amounts may be too low for your needs
Fees can be high depending on payment type and transfer destination
Exchange rates vary and may not always be the most competitive
In addition to payment support for online purchases, PayPal also offers overseas transfers to more than 200 countries and territories. While PayPal is like a digital banking service, its rates are competitive compared with most banks and financial institutions.
Pros
Available worldwide
Offers recurring payments
Exchange rates fixed at 2.5% above mid-market rates
Clear transfer fees, starting from $0.99
Cons
Fees increase with the amount transferred
Credit card payments incur fees of a percentage of the total transfer
Recipient also needs a PayPal account
Still looking for the right money transfer provider? Compare more options below
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Andrew Munro was the global cryptocurrency editor at Finder. During his time he covered all aspects of cryptocurrency and the blockchain. Before he became cryptocurrency editor, he was a content writer for Finder covering various topics over his nearly 5 years in the role. Prior to joining Finder he was a web copywriter. Andrew has a Bachelor of Arts from the University of New South Wales.
Are you due to receive a large sum of money from another country? Familiarise yourself with Australian laws and tax regulations regarding money transfers.
Minimum and maximum transaction limits can restrict your international money transfer options, so compare overseas transfer limits in this handy guide.
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