TransferWise International Money Transfers

Bypass bank fees and transfer money quickly and conveniently with peer-to-peer online money transfer service and app, TransferWise.

Transferring money overseas can come with a host of fees that end up costing you a lot of money. To combat this, TransferWise has found a way for people to transfer money at the live exchange rate using peer-to-peer technology.

This has resulted in an easy-to-use online money transfer service and app where fees are stated upfront, cutting the cost of transferring money overseas at up to eight times compared to banks.

Product NameTransferWise International Money Transfers
Min. Transfer AmountAUD 1
Max. Transfer AmountAUD 1,800,000
Transfer MethodsOnline
Transfer OptionsOne off payments
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Email
Online Transfer Fee0.45%
Exchange Rate UpdatesReal time


  • No minimum transfer amount
  • No hidden commissions or unexpected fees
  • Uses the mid-market exchange rate to give you the best possible deal


  • Not all currencies supported

TransferWise international money transfers

TransferWise is an online money transfer service and app that uses peer-to-peer technology to bypass bank fees and other associated costs of international money transfers.

When you transfer money overseas with TransferWise, you can save up to 90% on the fees you would be charged by your bank. This works by matching users looking to send and receive the same currency. For example, if a user wants to send AUD to GBP, TransferWise will look for a user sending GBP and use this towards the transfer. This means you won't be charged the cost of converting currencies, which is how TransferWise can offer the real exchange rate.

Note: TransferWise can only send JPY and ZAR via SWIFT – customers are encouraged to contact TransferWise Customer Support so that it is enabled for them.

How much does it cost to transfer money?

TransferWise charges a combination of a fixed fee and a percentage of the total value of your transfer. The fixed and percentage components vary according to the country you are transferring funds to. See the table below for an indication of the transfer fees for sending money to various countries.

Route (AUD to)Pricing
USD$1.50 fixed fee and 0.45% of the amount you send
EUR$1.00 fixed fee and 0.45% of the amount you send
GBP$1.00 fixed fee and 0.5% of the amount you send
CAD$1.00 fixed fee and 0.5% of the amount you send
JPY$3.00 fixed fee and 0.6% of the amount you send
INR$1.20 fixed fee and 0.6% of the amount you send
HKD$2.00 fixed fee and 0.65% of the amount you send
BDT$3.00 fixed fee and 1.2% of the amount you send
CNY$10.00 fixed fee and 0.75% of the amount you send
IDR$2.00 fixed fee and 0.65% of the amount you send
KES$3.50 fixed fee and 0.8% of the amount you send
MYR$3.25 fixed fee and 0.8% of the amount you send
NZD$1.00 fixed fee and 0.5% of the amount you send
PHP$4.00 fixed fee and 0.6% of the amount you send
THB$4.50 fixed fee and 0.6% of the amount you send

For the full list of currencies supported by TransferWise and their associated transfer fees, please visit TransferWise's website.

As well as using the mid-market exchange rate (the real exchange rate), TransferWise does not slug customers with any hidden commissions or unexpected fees. Instead, the transfer fee is shown upfront.

TransferWise foreign exchange rates

TransferWise uses the mid-market exchange rate when transferring money between countries. Also known as the interbank rate or spot rate, the mid-market rate is the mid-point between the buy and sell rates on global currency markets. This is the rate you’ll find if you do a Google search for exchange rates, not the rate that your bank will offer you when you transfer money. Banks hide commissions into the exchange rates they offer consumers.

TransferWise offers a best rate guarantee to all customers and promises to match any rate you find elsewhere. Transfers are conducted via a peer-to-peer system and while customers are never locked in to a particular exchange rate, they can set a rate limit.

The below rates are correct as of 1 March 2018.


Minimum transfer amount and available countries

The minimum amount you can transfer is 1 of the currency you're sending from. For example, £1, $1 or €1.

The registration and transfer process

The transfer process with TransferWise is simple to manage. All you have to do is enter the amount you want to send, a destination and whether you want a debit card or bank transfer (Poli pay is also available). Then you can fill in your details and upload your money. You can also send money to an email address.

Once that’s done, TransferWise converts the funds to your currency of choice using the mid-market exchange rate. The money is then paid to the recipient in your nominated currency, with the whole process taking just one to four working days.

Why should I choose TransferWise?

TransferWise offers a cheap and affordable way to send money overseas. Instead of struggling with the high fees charged by banks, some of which can amount to a massive 5% of the funds you are transferring, TransferWise offers a basic 0.7% fee on the transfer amount (or 0.5% for transfers over AUD $10,000) and no commissions. The structure of any charges is fully explained upfront so there are no unwelcome surprises.

Using the mid-market exchange rate enables TransferWise to offer great rates to its customers. It’s quick and easy to transfer money, and the whole process is designed to be as user-friendly as possible.

What are the pros and cons of an international money transfer with TransferWise?

The pros

  • Minimal fees. You’ll be charged 0.7% of your transfer amount. All fees are explained upfront so you know exactly how much your transfer will cost.
  • Exchange rate. TransferWise uses the mid-market exchange rate to give customers the best possible deal. There are no commissions hidden in the exchange rate, unlike the banks.
  • Simple. Transferring money overseas with TransferWise is quick and easy.

The cons

  • Not all currencies supported. A number of currencies around the world are not yet supported, so you may need to use an alternative provider if you're sending a more exotic currency.

Frequently asked questions

Also known as the spot rate or the interbank rate, this is the mid-point between the buy and sell rates on global currency markets.

TransferWise will charge a transaction fee of 0.7%. For larger transactions over AUD$10,000 the fee is 0.5%. There are no hidden commissions.

Your money should arrive to your nominated recipient within one to four business days.

About TransferWise

In 2011, Taavet Hinrikus and Kristo Käärmann were two Estonian expats living in London. Though he lived in London, Taavet was getting paid in Euros for work he’d done in Estonia. Meanwhile, Kristo lived in London but had a mortgage in Euros back in Estonia. Frustrated by hidden bank fees and fluctuating global currencies, the two friends devised a scheme to transfer funds overseas without losing any of their money. From these humble beginnings, TransferWise was created.

Rates last updated December 14th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TransferWise International Money Transfers
1 - 2 days
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
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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Important Information*
TorFX International Money Transfers

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Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.

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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.

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WorldRemit International Money Transfers

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44 Responses

  1. Default Gravatar
    September 5, 2018

    Can you send money to Ghana?

    • finder Customer Care
      JhezelynSeptember 5, 2018Staff


      Thank you for your comment.

      Yes, TransferWise can let you send money to Ghana. To start, just click the Go to Site button above to be redirected to their website and start the sending process.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.


  2. Default Gravatar
    RafFebruary 12, 2018

    Hi, I want to send 1000 AUD to my friend who lives in Thailand into her bank account. Do I have to know the SWIFT code of the recipient bank? Or just straightforward the way we transfer money in Australia in between two bank account? Thank you

    • finder Customer Care
      RenchMarch 4, 2018Staff

      Hi Raf,

      Thank you for your inquiry.

      With TransferWise, there’s no need for SWIFT code to transfer money to Thailand. You can transfer money to the recipient’s bank directly.
      You will only need to use SWIFT code if you will send JPY or ZAR using TransferWise.

      Alternatively, you can also check this page for other money transfer service options that you can compare to send money to Thailand.

      Best regards,

  3. Default Gravatar
    MargaretDecember 12, 2017

    Hi I would like to send AUD to USA. The account I will be transferring to has an Account Number and a CHASUS** number. Is this ok.?

    • finder Customer Care
      RenchDecember 13, 2017Staff

      HI Margaret,

      Thanks for your inquiry. Please note that we are not affiliated with TransferWise or any company we feature on our site and so we can only offer you general advice.

      If you are referring to TransferWise, all you have to do is enter the amount you want to send, a destination and whether you want a debit card or bank transfer (Poli pay is also available). Then you can fill in your details and upload your money. You can also send money to an email address.

      Once that’s done, TransferWise converts the funds to your currency of choice using the mid-market exchange rate. The money is then paid to the recipient in your nominated currency, with the whole process taking just one to four working days.

      Please click on the green ‘Go to Site’ button on this page to direct you to TransferWise official site.


  4. Default Gravatar
    steveJuly 27, 2017

    hi, i want to transfer +10K to Thailand. ( 1 bank acc to another ) are there any tax implications ?

    • finder Customer Care
      HaroldJuly 28, 2017Staff

      Hi Steve,

      Thank you for your inquiry.

      TransferWise does not levy any tax on its transfer fee. This means you will not be charged Value Added Tax (VAT), Goods and Services Tax (GST) or any other indirect tax. TransferWise will pay out the agreed amount to the recipient and will not withhold any taxes on money transferred. Depending on the nature of a transfer the payee and/or the recipient may have their own obligation to declare and pay tax. TransferWise cannot advise whether tax applies to your transfer and recommends you ask a financial advisor and/or the relevant tax authority.

      I hope this information has helped.


  5. Default Gravatar
    RobJuly 8, 2017

    Is a transfer of 400 000 Canadian to Australia possible

    And do I have to let government authorities know I am transferring money?

    • Default Gravatar
      ArnoldJuly 9, 2017

      Hi Rob,

      Thanks for your inquiry.

      Yes, the transfer is possible and there is no need to inform authorities regarding the transfer as well. Please note that the transfer may last 1-4 banking days.

      Hope this information helped.


  6. Default Gravatar
    RamNovember 20, 2016

    How long does it takes…is this 24/7 online service…if I send money now to Philippines how much time do they need to wait? Cheers

    • finder Customer Care
      LouNovember 21, 2016Staff

      Hi there,

      Thanks for reaching out.

      If you are transferring money through TransferWise, the whole process could take 1-4 working days to be completed. This depends on the currencies involved, the payment method you chose as well as bank holidays and non-working days in both the sending and receiving countries.

      Please Note that TransferWise can only send or receive your money during regular banking hours.


  7. Default Gravatar
    jorgeNovember 10, 2016

    Hi there,

    Wanna send aud to gbp

    What need to get verified?

    What need to get verified gbp to eur?

    Talking amounts $10,000+


    • finder Customer Care
      HaroldNovember 11, 2016Staff

      Hello Jorge,

      Thank you for your question.

      There are 5 Things you need to know before transferring and these are:
      1. Send money from your own bank account or card
      2. Sending your money
      3. Account verification
      4. Use correct details in your profile
      5. No cash or cheque

      To view the full details please follow this process
      1. On this page click the “go to site” button.
      2. Now click the “Help” tab at the upper right part of their platform.
      3. Using the search box please type-in “5 Things to Know Before Transferring”
      4. Then click the link and it will redirect you to the full details of the article.

      I hope this has helped.


  8. Default Gravatar
    KimSeptember 29, 2016

    I’m in Australia and I’d like to send either USD or Ukrainian currency to my friend in Ukraine. What are my options please?

    • finder Customer Care
      ClarizzaSeptember 29, 2016Staff

      Hi Kim,

      Thanks for your question.

      If you’re considering using TransferWise to send money to Ukraine, you would be sending money online. You can use the calculator and table on this page to find out the exchange rate. Or you can explore other services and compare exchange rates on our Money Transfers page. There is also a form that you can complete to speak to a foreign exchange expert should you want to discuss your situation in further detail.


  9. Default Gravatar
    KimSeptember 29, 2016


    I’m in Australia and I’d like to transfer USD to a friend in Ukraine. Or if I can’t do that, would it be possible to send him the Ukrainian currency?.


    • finder Customer Care
      LouOctober 5, 2016Staff

      Hi Kim,

      Thanks for your question.

      With TransferWise, you should be able to send money from Australia to Ukraine. You can also visit this page to check your other options. Your friend should be able to claim the money in the currency of the country where it is received.


  10. Default Gravatar
    TonyJune 17, 2016

    My friend in Shanghai wants to send AUD $60 ( RMB 292 ) to me here in Queensland, how much will it cost her in a fee.

    • finder Customer Care
      ClarizzaJune 27, 2016Staff

      Hi Tony,

      Thanks for your question.

      Unfortunately, RMB is not yet listed or available to transfer with TransferWise. However, they are expanding the currencies available to transfer. You can find out more direct on their site.

      You might also find our international money transfers page useful – here, you can compare services or use the form at the bottom of this page to speak to an expert.

      Hope this helps.


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