Review: WorldFirst international money transfers

&

Last updated:  

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

  • Good for large transfers and transparent margins on the exchange rate.
  • Not so great if you only want to send a small amount or pay by card.

AUD 2,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed

Details

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, BGN, BHD, BWP, CAD, CHF, CLP, COP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, LKR, MAD, MUR, MXN, MYR, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, TZS, UGX, USD, VND, XCD, 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 exchange rates and fees

WorldFirst doesn't charge any fees, but does add a margin to the mid-market exchange rate. This means WorldFirst's exchange rate won't be as good as the one you can see on Google or the news.

On most popular currencies, WorldFirst guarantees that the margin will only be 0.5% on top of the exchange rate. The more you send, the lower it gets. This rate goes down to 0.4% for Finder customers.

For the other, less popular currencies, you won't pay more than about 1% on top of the exchange rate.

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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.679 USD
6,789
Sign up for a new account and receive a $50 Myer gift card when you transfer $10,000 or more.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details

Compare up to 4 providers

Exchange rates are based on data sourced from each service, but they change often. Confirm the total cost with the provider before transferring money.

WorldFirst's rates in detail

In August 2019, WorldFirst announced it was launching a new pricing structure aimed at making the margins applied to each transfer more transparent and easier to understand. Most popular currencies are available to purchase at these rates online, but for some, you'll need to contact WorldFirst by phone. These rates apply to personal, business and online seller customers.

(0.40% for Finder customers)

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 eight 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.

Check out what promo codes WorldFirst is offering

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

The minimum amount you can send to most of these currencies is $2,000. However, for some currencies like the Indonesian rupiah, Vietnamese dong and Nepalese rupee, the minimum goes up to $15,000.

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 400,000* globally.
  • Reviews: Feefo gives WorldFirst a score of 4.6* out of 5, based on over 485 reviews.
*According to WorldFirst and Feefo on 18 April 2019.

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 its 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 0.15% and 1% 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 for personal transfers.
  • Competitive rates. WorldFirst offers highly competitive, transparent 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 is 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. For some currencies, this goes up to $15,000.
  • Some smaller currencies missing. WorldFirst has 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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.679 USD
3,394
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 3,000 1 day GBP 20.00 0.675 USD
3,365
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.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.679 USD
3,394
Sign up for a new account and receive a $50 Myer gift card when you transfer $10,000 or more.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.679 USD
3,394
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days AUD 15.00 0.679 USD
3,384
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.679 USD
3,394
BFX can help you send fee-free transfers to 30+ currencies. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.675 USD
3,372
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.673 USD
3,364
Use promo code 3FREE to send your first 3 transfers with no fee.
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Go to site Show details
AUD 1 1 - 2 days AUD 22.50 0.682 USD
3,393
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 200 1 day AUD 0.00 0.676 USD
3,381
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Back to top

Frequently asked questions

International Money Transfer Offers

Important Information*
Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for Global Reach (formerly FC Exchange) International Money Transfers
Global Reach (formerly FC Exchange) International Money Transfers

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.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Sign up for a new account and receive a $50 Myer gift card when you transfer $10,000 or more.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Ask an expert

To ask a question simply log in via your email or Facebook or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

45 Comments

  1. Default Gravatar
    Claudia
    August 15, 2018

    Do you send money to Rwanda? From australia

    • Default Gravatar
      Joel
      August 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
    Theresa
    July 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.

    • AvatarStaff
      Nikki
      July 5, 2018

      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
    Mark
    September 27, 2017

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

    • AvatarStaff
      Judith
      September 28, 2017

      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
    Josh
    May 31, 2017

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

    • AvatarStaff
      Harold
      May 31, 2017

      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
    Greg
    November 21, 2016

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

    • AvatarStaff
      Shirley
      November 21, 2016

      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
    Greg
    November 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

    • AvatarStaff
      Dee
      November 21, 2016

      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
    Vicmot
    August 31, 2016

    Cheapest/fastest way to send from Finland to Cambodia?

    • AvatarStaff
      Clarizza
      September 1, 2016

      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. AvatarStaff
    Clarizza
    August 24, 2016

    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
    Barry
    July 16, 2016

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

    • AvatarStaff
      Clarizza
      July 18, 2016

      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
    Geoffrey
    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.

    • AvatarStaff
      Shirley
      June 28, 2016

      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.

Ask a question
Go to site