Review: WorldFirst international money transfers – December 2018

Enjoy competitive exchange rates and no transfer fees when you send money overseas with WorldFirst.

Quick verdict

Good for
  • Large transfers
  • No fees and a competitive rate
  • Same-day transfers
  • Sending money to a major currency
Not so great for
  • Small transfers
  • Cash or card payments
  • Cash pick-up

Product NameWorldFirst International Money Transfers
Min. Transfer AmountAUD 2,000
Max. Transfer AmountNo limit
Transfer MethodsOnline, Phone, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Chat, Email
Available CurrenciesAED, AUD, BBD, BDT, BGN, BHD, BOB, BWP, CAD, CHF, CLP, CNY, CZK, DKK, EGP, EUR, FJD, GBP, GHS, GTQ, HKD, HRK, HTG, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, LKR, MAD, MUR, MXN, MYR, NAD, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, QAR, RON, RUB, RWF, SAR, SEK, SGD, SLL, THB, TND, TRY, TTD, TWD, TZS, UGX, USD, VND, XAF, XCD, XOF, ZAR
Online Transfer FeeAUD 0
Exchange Rate UpdatesDaily

Pros

  • No transaction fees
  • Competitive exchange rates
  • Same-day transfers for major currencies
  • Regular market updates available through email
  • No maximum transfer limit

Cons

  • Only accepts bank transfer
  • High minimum transfer limit
  • Some smaller currencies missing
  • No cash pick-up

WorldFirst WorldFirst
Exclusive

$20 bonus credit towards your next transfer

Get $20 credit towards your next WorldFirst transfer when you use Finder's exclusive code.

Offer is valid for one time use and only applies to transfers of AUD$10,000 or more. WorldFirst T&Cs apply.

Last verified

Coupon code ends

WorldFirst exchange rates and fees

Calculate how much sending money overseas would cost with WorldFirst by using our tool below. You can also check out the real-time exchange rate WorldFirst offers and if there are any additional fees.

Rates last updated December 10th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
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.
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.

Compare up to 4 providers

Because WorldFirst takes a smaller margin than the major banks, it's typically able to offer better rates than a bank can. In fact, it claims its exchange rates are up to seven times better than the Big Four banks, and backs this up with the WorldFirst Price Promise.

WorldFirst's Price Promise

If you get a better quote from another international transfer service, WorldFirst will beat it. You just need to:

  • Register with WorldFirst.
  • Let WorldFirst know how much money you're looking to transfer and the rate you were quoted, including the time of day you received the quote.

Conditions do apply:

  • You must have an active trading account with another provider.
  • You must have the quote in writing or email to send to WorldFirst within three hours of receipt.
  • WorldFirst cannot give you a rate better than the rate at which they buy the currency.

Available currencies

WorldFirst offers money transfers to over 60 different currencies. You can check out the full list of the currencies above, but some of the more popular ones include:

  • EUR Euro
  • GBP British pound
  • INR Indian rupee
  • LKR Sri Lankan rupee
  • NZD New Zealand dollar
  • PHP Philippine peso
  • USD US dollar
  • VND Vietnamese Dong

What types of transfers can you make with WorldFirst?

WorldFirst offers four main transfer types to help you get the most out of your transaction.

  1. Spot contracts. Make a one-time transfer at the time of payment.
  2. Forward contracts. Lock in today's exchange rate and schedule a transfer now for up to two years later.
  3. Regular payments. Set up automated payments online or over the phone.
  4. Limit orders. Use these to execute a money transfer when your ideal exchange rate is met.

What payment methods does WorldFirst accept?

WorldFirst only accepts payments via bank transfer.

After you've booked your money transfer, you'll receive an email with WorldFirst's bank account details for you to transfer your money to. You can organise your money transfer with WorldFirst either over the phone or online.

How long does a transfer with WorldFirst take?

A number of factors affect the transfer time: the currency, what bank is used and the size of the transaction. If you're transferring to GBP, USD or EUR, the transfer is normally completed within the same day. With other currencies, you should allow one to four days for your money transfer to be completed.

Keep in mind that these times are from when WorldFirst receives your funds, so depending on how fast your bank processes money transfers.

Transfers typically takeClock icon for transfer speed

1 day

Is WorldFirst safe to use?

  • Security and regulation: WorldFirst is government regulated and holds its customers' funds separate from the company's own.
  • Established: 2004.
  • Number of customers: Over 75,000*.
  • Reviews: Trustpilot gives WorldFirst a score of 7.7* out of 10, based on over 220 reviews.
*According to WorldFirst and Trustpilot on 14 September 2018.

WorldFirst is regulated in Australia by ASIC (the Australian Securities and Investments Commission), which is the body that regulates finance companies to protect consumers. Part of ASIC's Client Money regulation means that WorldFirst has to keep its customers' funds separate from its own. This protects their users' money if the company runs into financial difficulties.

Two-factor authentication (2FA) allows you an extra layer of security. It requires you to use two types of verification when you're logging into your account. These are usually your password and a number either sent to you by text or generated by an authenticator.

How does WorldFirst make money?

WorldFirst makes its money off the spread, which is also known as the margin. You may have noticed that the exchange rate you see on Google or XE is different to the one being quoted to you. This is because a lot of money transfer companies and banks add on a small margin to the interbank rate to cover their own costs. In other words, it's the difference between the wholesale cost of the currency, and the rate WorldFirst offers to you.

This margin varies from company to company, so it's important to compare both the exchange rate the money transfer service is offering as well as their additional fees. WorldFirst's margin generally ranges between 0.1% and 4% per transfer, depending on market volatility and the specific currencies you're buying or selling.

How to register an account with WorldFirst

You can sign up for an account with WorldFirst online and, once you register and are verified the first time, it's quick and easy to make future transactions.

How do I make an international money transfer with WorldFirst?

  1. Log in and click 'make a transfer'. You'll find this button on the homescreen of your log-in page.
  2. Choose your currencies. You'll need to include the currency you hold and what you want to send, as well as the amount.
  3. Select your payment method. Even though you can only use a bank transfer in Australia, you can choose if the money is coming from a bank account under your name or not.
  4. Pick what date you want WorldFirst to make the transfer. It can either be for as soon as possible or at a later date.
  5. Review your transfer. Double-check the exchange rate is the one you want as this is the one you're locking in.
  6. Transfer the money to WorldFirst's bank account. You can find WorldFirst's bank account details in the confirmation email you're sent.
  7. WorldFirst sends your money transfer. You'll be able to track the transfer online and receive email updates during the process.

What is WorldFirst's background?

WorldFirst was launched in 2004 by two ex-Citibank colleagues in London. The pair wanted to use WorldFirst to make international money transfers cheaper and easier than what's normally offered by the banks. Although they now have offices in Hong Kong, Japan, the US, the Netherlands and Singapore, the Sydney office was the second non-UK one launched.

In a nutshell

Pros
  • No fees. WorldFirst doesn't charge any transaction fees, commissions or ongoing fees.
  • Competitive rates. WorldFirst offers highly competitive exchange rates to customers that's usually not too far from the interbank rate.
  • Same-day transfers for major currencies. If you're transferring to USD, EUR and GBP, WorldFirst are able to deliver within a day.
  • Regular market updates. You can sign up for WorldFirst's rate alerts or weekly market updates.
  • No maximum limit. With no limit, you can transfer as much as you'd like in one go.
Cons
  • Only accepts bank transfer. You won't be able to use your credit card or debit card to pay for a money transfer.
  • High minimum transfer limit. WorldFirst won't process money transfers smaller than $2,000.
  • Some smaller currencies missing. WorldFirst have most of the major currencies covered, but not all of the smaller ones.
  • No cash pick-up. Transfers must be sent to your recipient’s bank account. You can check out other money transfer providers that offer cash pickup here.

How does WorldFirst compare to other providers?

Our table below shows you the exchange rate and fees of other money transfer specialists.

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.

Compare up to 4 providers

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Frequently asked questions

Rosie Russell

Rosie is a writer at finder.com.au, specialising in money transfers. She's constantly planning her next trip overseas and is on a mission to make personal finance easier to understand.

Was this content helpful to you? No  Yes

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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45 Responses

  1. Default Gravatar
    ClaudiaAugust 15, 2018

    Do you send money to Rwanda? From australia

    • Default Gravatar
      JoelAugust 15, 2018

      Hi Claudia,

      Thanks for leaving a question on finder.

      Yes! You can send money to Rwanda from Australia using WorldFirst. To start the process of sending money, please click HERE. If you are still looking to weigh your options in sending money to Rwanda, please click HERE.

      Cheers,
      Joel

  2. Default Gravatar
    TheresaJuly 3, 2018

    wish to transfer $5,500 CDA funds to Nigeria. I do not use online banking. What options can I use to transfer funds other than Western Union. Can I use a Canadian credit card to transfer funds. What is the fee and how long does it take for the receiver to pickup funds.

    • finder Customer Care
      NikkiJuly 5, 2018Staff

      Hi Theresa,

      Thanks for leaving a question on our page.

      You can definitely use your credit card to do a money transfer. Also, just a friendly reminder that when you use a credit card to transfer money, you may be charged a cash advance fee + conversion and transfer fees depending on your bank terms and conditions.

      To view your options on how to send money to Nigeria, you may view this page.

      The fees and transfer speed will depend on the transfer facility you’ll use.

      Hope this clarifies!

      Cheers,
      Nikki

  3. Default Gravatar
    MarkSeptember 27, 2017

    I have some Ghana cedis in Australia, how can I exchange them to oz dollars?

    • finder Customer Care
      JudithSeptember 28, 2017Staff

      Hi Mark,

      Thanks for contacting finder, a comparison website and general information service.

      There are different ways on how you can convert one currency to another. You may opt either of the following: banks, international money transfer companies, foreign exchange kiosks and post offices, and credit & debit cards.

      We have a panel on this page that will help you compare the exchange rates. Simply enter the required details and then click “Calculate.”

      I hope this helps.

      Regards,
      Judith

  4. Default Gravatar
    JoshMay 31, 2017

    I would like to transfer funds from my Australian account to my Canadian account as fast as possible can you help?

    • finder Customer Care
      HaroldMay 31, 2017Staff

      Hi Josh,

      Thank you for your inquiry.

      To get a better deal when sending money to Canada you may need to check the available option/s on this page.

      I hope this information hash helped.

      Cheers,
      Harold

  5. Default Gravatar
    GregNovember 21, 2016

    Im wanting to have send money to USA next May
    I’m I able to lock in the current exchange rate
    thanks

    • finder Customer Care
      ShirleyNovember 21, 2016Staff

      Hi Greg,

      Thanks for your question.

      Yes you can utilise a forward contract for your money transfer.

      You can fix it up 2 years in advance.

      Cheers,
      Shirley

  6. Default Gravatar
    GregNovember 21, 2016

    I have been asked to send money to Japan via a bank draft registered post, Are there any companies that do this?
    thanks

    • finder Customer Care
      LouNovember 21, 2016Staff

      Hi Greg,

      Thanks for your question.

      You may want to first enquire from your bank if they offer online draft service. If not, you can order a bank draft from your bank and have it mailed to your recipient in Japan.

      Cheers,
      Anndy

  7. Default Gravatar
    VicmotAugust 31, 2016

    Cheapest/fastest way to send from Finland to Cambodia?

    • finder Customer Care
      ClarizzaSeptember 1, 2016Staff

      Hi Alexander,

      Thanks for your comment.

      You can compare fees and exchange rates on our International Money Transfer page. We currently don’t include the Cambodian Riel (KHR) in our table, however if you click on the “Go to site” button, you will be taken directly to the provider’s page where you can enquire. It also looks like you can transfer money from Finland to Cambodia with World Remit.

      Hope this helps.

      Clarizza

  8. finder Customer Care
    ClarizzaAugust 24, 2016Staff

    Hi Gisela,

    Thanks for your question.

    Just to be sure we are an Australian comparison website and as such provide general advice only. In this instance, you would need to contact the provider directly. However, if you are referring to World First Foreign Exchange, they do allow you to complete a transfer via phone.

    Clarizza

  9. Default Gravatar
    BarryJuly 16, 2016

    Require to transfer funds direct from my bank acct to bank acct in Philippines

    • finder Customer Care
      ClarizzaJuly 18, 2016Staff

      Hi Barry,

      Thanks for your comment.

      Yes you can transfer money from your bank account to a bank account in the Philippines. Would you be able to elaborate on your question? If you would like to proceed, you can click on ‘Find our more’ or ‘Go to site’ to be taken to the World First Foreign Exchange site.

      Hope this helps.

      Clarizza

  10. Default Gravatar
    June 26, 2016

    How do I get the finder.com.au exclusive no fee offer? When I click on apply now I just get redirected to standard world first signup page with $10 charge for transfers.

    • finder Customer Care
      ShirleyJune 28, 2016Staff

      Hi Geoffrey,

      Thanks for your question.

      If you’ve signed up through the finder.com.au link, there will automatically be a note on your file telling your dealer not to charge any fees.

      World First will also ask you how you heard about us and if you say finder.com.au, then you’ll get the $0 fee applied to your transfer.

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