Exclusive: World First International Money Transfers
More info
World First Foreign Exchange offers businesses and individuals a wide range of choices in money transfer services with safe transactions at competitive rates
finder.com.au exclusive
finder.com.au customers pay $0 online transfer fees. 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.World First also offers a Price Promise, see more details below.
World First offers many services not available at traditional banks (such as spot contracts, forward contracts and currency options) and their 'Best Exchange Rate' guarantee helps ensure you are charged the lowest fees in the business. World First will also keep you updated on what is happening in the currency markets, helping you to know when conditions are most favourable for your foreign exchange transactions.
| Product Name | Exclusive: World First International Money Transfers |
|---|---|
| Min. Transfer Amount | AUD 2,000 |
| Max. Transfer Amount | No limit |
| Transfer Methods | Online, Phone |
| Transfer Options | One off payments, Market orders, Forward contracts |
| Transfer Speed Minimum transfer time | 1 day |
| Banking Partner | Worldfirst |
| Customer Service | Phone, Email |
| Available Currencies | AED, ALL, AMD, ANG, AOA, ARS, AUD, AZN, BAM, BBD, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BWP, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KHR, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LTL, LVL, MAD, MGA, MKD, MNT, MRO, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, UYU, VEF, VND, VUV, WST, XCD, XOF, XPF, ZAR, ZMW |
| Online Transfer Fee | AUD 0 |
|---|---|
| Exchange Rate Updates | Daily |
Pros
- Competitive exchange rate
- Spot contracts, forward contracts and hedging options available
- Weekly updates on market exchange rates
Cons
- Transfer fee payable
- Small numbers of currencies available
Note: Transfers can take between 1-2 days. For transfers to India, the minimum is $10,000 AUD.
Send over 20 currencies with World First
World First offers a range of popular and exotic currencies to suit a range of countries across the globe. These include:
- AED
- AUD
- BGN
- CAD
- CHF
- CZK
- DKK
- EUR
- GBP
- HKD
- HUF
- ILS
- JPY
- NOK
- NZD
- PLN
- RON
- SAR
- SEK
- THB
- TRY
- USD
- ZAR
- You need to be registered with World First
- You need to be registered with another provider (the one you obtained the quote from)
- Get a quote for the same amount and currency pair from the other provider and
- Submit your quote within 3 hours of receiving it from the other provider.
What services does World First Foreign Exchange offer?
What separates World First from most traditional banks and currency brokers is the fact that they offer foreign exchange methods that banks typically reserve for large corporate clients. Here are some of World First's specialised services for those with individual client accounts:
- Customer service
Get access to customer service on a variety of platforms and speak to a representative online, over the phone or through the iOS or Android app.
- Spot contracts
A spot contract allows investors to buy or sell a currency at today's market rate. This is different from a forward contract, which settles the value of a currency transaction sometime in the future. If you are looking to make a single payment for an item purchased overseas, a spot contract is usually the best choice.
- Forward contracts
A forward contract sets the price for a foreign exchange transaction at a later date. Forward contracts are best used when transactions do not need to be settled immediately and you believe currency market conditions will be more favourable in the future. World First allows you to fix the price of a currency transaction up to two years in advance, helping to protect you against price volatility and negative surprises in changing market conditions.
- Hedging with currency options
Currency options allow investors to buy (using CALL options) or sell (using PUT options) a specific currency at a pre-set date and time. Currency options also allow individuals one of the best methods for hedging against adverse price movements in market exchange rates. So, for example, if you believe the Australian Dollar is likely to fall in the next few months, it might make sense to purchase a PUT option in the currency for that time frame. World First was the first foreign exchange broker to offer currency options to private clients and some options can be taken without any up-front fees. If you are looking for market protection when buying or selling an overseas property, currency options might be an appropriate choice.
Informative newsletters and rate alerts
Rate alerts - For non-experts, the currency market can sometimes appear difficult to understand and impossible to forecast. World First monitors these markets for their clients and can send alerts during times when favourable investment scenarios arise. Clients at World First can work closely with an investment advisor to assess your individual needs and determine market environments that are most conducive to meeting those goals. Stay up to date -Getting a favourable exchange rate can make all the difference in a currency transaction. But it can be difficult to know when the market is ready to make its move. The team at World First publishes weekly market updates that is free for clients and offers access to concise information that will aid you in your future currency transactions. These weekly newsletters are most useful for investors that are looking to conduct spot transactions, rather than forward contracts far-off in the future.
How do World First Foreign Exchange Online Money Transfers work?
In the past, you had to physically walk into a bank in order to conduct foreign exchange transactions. Those days are long behind us, as World First offers online transactions enable you to monitor your accounts from a computer or mobile device. World First's online systems enable you to manage all your foreign exchange transactions and payments 24 hours a day, seven days a week. World First Online is free of charge and allows clients to:
- Fix price rates and conduct currency transactions
- Manage payments and add/change beneficiaries
- Access live account statements
- Access updated economic research and monitor the latest market-moving events
Opening an account
Opening an account and World First is simple and free. It only takes a few minutes and carries no obligation for future transactions. To get started, click on the "Apply now" button on this page. You will be taken to the World First site where you can begin the application process by clicking on "Get started".
I would like to transfer funds from my Australian account to my Canadian account as fast as possible can you help?
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
Im wanting to have send money to USA next May
I’m I able to lock in the current exchange rate
thanks
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
I have been asked to send money to Japan via a bank draft registered post, Are there any companies that do this?
thanks
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
Cheapest/fastest way to send from Finland to Cambodia?
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
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
Require to transfer funds direct from my bank acct to bank acct in Philippines
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
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.
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.
You mention in another comment to transfer from Canada to Australia we have to use the US version of the site. Does that mean the money is being transferred twice? (once to US then to Australian)? How does this affect the exchange rate?
What are the limits on how much can be sent?
Hi Pete,
Thanks for your question.
No the money isn’t being transferred twice, World First uses their US site to service both American and Canadian transfers.
World First haven’t indicated a maximum transfer limit on their site.
I need to transfer money from NZ to Australia. can you please help?
Hi Bumdari,
Thanks for your question.
Sure. Please click on “go to site” and follow the prompts. You’ll first need to open a World First account and deposit the funds. You can then transfer the funds to your recipient in another country.
Please have their SWIFT/IBAN number, BSB and account number handy.
Hi,
I want to transfer funds from Australia to Singapore. I registered with another company to do this (1st Contact Forex), but they insist that my Singapore receiving bank account needs a IBAN. DBS Bank Ltd does not have an IBAN, so I cannot process this transaction using 1stContact.
I want to try World First instead. Will I encounter the same problem with a requirement to have an IBAN for my Singapore receiving bank account?
Hi Ivan,
Thanks for your question.
The SWIFT / IBAN for DBS Bank is DBSSSGSG. Every international money transfer requires a SWIFT or IBAN number to identify the bank that’s receiving the money, including World First.
Hope this helps.