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AUD 2,000
Min. Transfer Amount
No limit
Max. Transfer Amount
1 day
Transfer Speed
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Product Name | WorldFirst International Money Transfers |
---|---|
Min. Transfer Amount | AUD 2,000 |
Max. Transfer Amount | No limit |
Transfer Methods | Online, Phone, Bank Account to Bank Account |
Transfer Options | Regular payments, One off payments, Market orders, Forward contracts |
Transfer Speed Minimum transfer time | 1 day |
Customer Service | Phone, Chat, Email |
Available Currencies | AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CLP, CNY, 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 |
WorldFirst charges transactions fees for smaller amounts and adds 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 0.6% 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.
In March 2021, WorldFirst introduced transaction fees for sending amounts less than $10k. 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.
Transfer amount (AUD) | $0-$1,999 | $2,000-$9,999 | $10k+ |
---|---|---|---|
Fee | $20 | $10 | $0 |
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.
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.
If you get a better quote from another international transfer service, WorldFirst will beat it. You just need to:
Conditions do apply:
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:
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.
WorldFirst offers four main transfer types to help you get the most out of your transaction.
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.
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 take
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.
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.
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.
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.
Our table below shows you the exchange rate and fees of other money transfer specialists.
Yes, the WorldFirst app is available from the Apple App Store and the Google Play store. It allows you to make transfers whenever and wherever is convenient. If you want to know more about money transfer apps, check out our guide on some of the most popular ones.
No. WorldFirst transfers money to bank accounts only.
You can open an account online in minutes, with verification usually taking place within an hour. After setting up the account, you'll need to wait for a representative to contact you and finish verifying your identity. Read more about the registration process here.
Our review of WorldFirst's online seller product
We spoke to WorldFirst's CEO Jeff Parker about the trends he's seen in business transfers since lockdown.