Compare international money transfer services

Compare to find the best rates and lowest fees for your next international money transfer from Australia.

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Wondering how to send your next international money transfer? Not sure whether you should send a wire transfer, use a money transfer app like Wise or send cash through Western Union? We've scoured the market to find the best international money transfer services based on the amount you're sending, transfer fees, exchange rates and flexible options. Here's everything you need to know.

Compare international money transfer services

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 20 of 22
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Send Payments
24 hours
$0
$100 cashback voucher for new registered users trading over 25k AUD within 30 days of registering in March. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Revolut
Within minutes
$0
Sign up and get $15 top-up after completing your first transaction
Send money without fees in 25+ fiat currencies Monday to Friday.
Western Union
Within minutes
From $0
Western Union sends money online to friends and family in 200+ countries around the world.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
Instarem
Within minutes
From 0%
Use code FINDER20X2 to get $20 off your first two transfers.
Minimum transfer of $250 and max transfer of $500,000
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Remitly
Within minutes
From $0
See terms and conditions for more information.
Remitly has quick, affordable transfers around the world, with both express and economy options.
SingX
Within minutes
From 0.5%
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
CurrencyFair
Within minutes
€3
New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Send Payments
24 hours
$0
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
SingX For Large Transfers
Within minutes
From 0.5%
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Qantas Business Money
Within minutes
$0
Earn up to 100,000 bonus Qantas Points on your first conversions by 31 July. That's on top of 1 Qantas Point per every AUD$10 equivalent you transfer into foreign currencies. T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
WorldFirst Business Transfers
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Send business
24 hours
$0
$100 cashback voucher for new registered users trading over 25k AUD within 30 days of registering in March. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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What is an international money transfer?

An international money transfer is the process of sending money between people or financial accounts in different countries. Every day, trillions of dollars are transferred between people and businesses all over the world.

Typically, you need to give a bank or money transfer service your recipient's details and the money you want to send. They will convert your funds to the currency of your choice and electronically send the payment to your recipient.

Depending on the money transfer service, you will be able to send funds online, via mobile app, over the phone or in person.

How can I pay for my money transfer?

Not all money transfer services accept the same payment methods, but you may be able to pay by the following:

  • Bank transfer (requires your account number)
  • Debit card
  • Credit card
  • Cash

If you want to pay in cash, you'll need to visit a bank branch or money transfer agent in person. If you transfer funds online or via mobile app, you can only pay electronically by card or bank transfer.

How can my recipient receive the money?

Again, receiving options vary between transfer services, but your recipient may be able to receive funds the following ways:

  • Bank account
  • Mobile wallet
  • Cash pick-up at a bank or money transfer location
  • Airtime top-up

What are the benefits of using an online money transfer service?

While it might be easy to assume that big banks are the best option for making an international money transfer, there are many reasons why an online transfer service are the way to go:

  • Cost savings. Online transfer services typically offer lower fees and better exchange rates. Based on our research, when converting $10,000 AUD into GBP, TorFX adds a 0.55% markup to the mid-market rate while ANZ adds a 2.91% markup.
  • Fast. Online money transfer companies often use the latest financial technology to get your money where it needs to go fast. In some cases, a transfer could only take minutes.
  • Easy. Mobile apps and online platforms make it easy to send money anytime from anywhere. Additionally, many offer features that let you set up recurring transfers, making it easy to pay bills, manage international business payments and more.
  • Security. Similar to banks, online transfer services usually follow industry-standard security practices to protect your money and personal information. This often includes encrypted data transfer, SSL certificates, two-factor authentication, security questions/answers and personal identity verification.
  • Regulation. Money transfer providers are regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

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How do I send money overseas?

There are multiple options to consider when sending money overseas:

Transfer methodDescriptionProsCons
Online money transfer serviceElectronic funds transfer through an online money transfer service.
  • Can be done from anywhere via mobile app
  • Low cost (compared to banks)
  • Fast
  • Cannot pay in cash
  • Many online services don't support cash pickup (some like WorldRemit and Remitly do)
In-person money transfer serviceCash or electronic transfer by visiting a money transfer service location in person.
  • Multiple transfer options
  • In-person customer service
  • Requires local travel
  • Can only be done during business hours
BankWire transfer or international money transfer through a bank.

(Note: All major banks support wire transfers, but not all offer additional in-house money transfer services.)

  • Considered a secure way to send money
  • Add a big markup to exchange rates
  • Can only be funded through your bank account
ChequeWrite a cheque and mail it to your recipient.
  • Can be postdated to delay payment.
  • Can be cancelled in transit.
  • No transaction fee (assuming you already own cheques)
  • Additional time for delivery
  • Cheque could get lost in the mail
Money orderGet a certified money order printed and mail it to your recipient.
  • Difficult to cash fraudulently
  • Can be cancelled in transit
  • Additional time for delivery
  • Money order could get lost in the mail

How to send money using an online money transfer service

Online money transfer services offer more flexible options and lower fees than traditional banks. Sending an international money transfer through an online service is simple:

  1. Compare services, and select one that suits your needs.
  2. Create an account by entering personal details such as your name, email, address and phone number.
  3. You may need to submit a scanned copy of your personal ID (i.e. passport photo or driver's license) to qualify for higher transfer limits.
  4. Link your bank account, debit card or credit card to your newly-created account, so you can pay for transfers. Alternatively, you may need to transfer funds from your bank account.

Most of the time, you can access your account immediately after submitting all the required information. For some services (particularly transfer services for businesses), there may be a delay while your information is reviewed and a transfer specialist is assigned to your account.

Best international money transfer services

Don't just choose your bank! Specialist money transfer services have much cheaper rates. Loyalty to a single provider doesn't pay off either - if you regularly need to send money to family, compare to make sure that you're still on the best deal..

How to send money through a bank

Bank transfers have long been regarded as reliable and safe. The steps for sending an international money transfer through your bank are generally as follows:

  1. Login to your online banking portal.
  2. Navigate to the international money transfers section of your account. It's usually a good idea to check your bank's exchange rates before sending money.
  3. Typically, you need the address and SWIFT code of your recipient's bank and their account information. SWIFT codes are used internationally to identify banks.

To send a bank wire transfer or money order, you need to visit your bank in person. You may also be able to get money orders at other financial institutions like post offices, credit unions, large retailers and even some convenience stores and petrol stations.

What do I need to send and receive money abroad?

Make sure you have the following on hand when making an international money transfer.

  • Your personal details. Name, phone number, and government-issued identification like a driver's license or passport. Additional details may be required for security purposes, particularly for very large transfers.
  • Your recipient's personal details. Name, phone number and residential address.
  • Your recipient's bank information. Bank name, address, routing number, SWIFT code and your recipient's account number.
  • Payment. Check beforehand what types of payment methods are acceptable. For example, not all money transfer services accept credit cards.

What documents do I need to send money abroad?

When sending money abroad, you don't need any particular documents other than a government-issued ID.

However, it is worth knowing that money transfers over $10,000 get automatically reported to Australia's regulatory body, AUSTRAC. But other than that you don't need to do much.

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How much does it cost to transfer money internationally?

The cost of sending money overseas varies between service providers. Factors like the type of transfer, destination country and amount being sent affect your total cost.

Generally, banks and money transfers services make money from international transfers in two ways:

  1. Transfer fee. This is typically a flat fee or a percentage of the transfer amount.
  2. Exchange rate margin. Most banks and money transfer services make a profit by adding a markup to the mid-market rate (the "true" exchange rate between two currencies). To save money, look for services that have as small a markup as possible.

Transfers for cash pickup can cost more than transfers to a bank account. Some companies charge higher fees for large transfers, while others such as OFX will actually slash fees for large transfers.

Companies that offer fee-free transfers may make up for it with a poor exchange rate. This is why it's important to look at the total cost of your transfer, not just the transfer fee or exchange rate.

Why you can trust Finder's money transfer experts

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We've researched and reviewed over 50 money transfer providers to make our guides as helpful as possible. Our experts regularly appear on SBS News, Sunrise and 7News.
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Our product database of 23 providers is updated weekly with the latest deals in Australia. Our guides are regularly reviewed and fact-checked.
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We're here to help

In 2022, we helped over 68,000 people find the right provider to transfer money overseas. We're here to help you save money on exchange rates!

Tips to save money on your next international transfer

Looking for low fees and strong exchange rates isn't the only way to save on your next money transfer besides. The following tips can also help keep your costs down:

  • Use a service that offers no markup on the exchange rate. The mid-market rate is the "true" exchange rate between two currencies. While most transfer services add a margin on the mid-market rate to make money, some don't. Instead, these services prefer to make money through transfer fees. Depending on the type of transfer, it may work in your favour to use such a service.
  • Send larger transfers. Some services offer discounts or waive transfer fees if you send at, or above, a minimum amount. If you send over $10,000 with OFX you can avoid any transfer fees.
  • Use forward contracts and limit orders. A forward contract lets you lock in a favourable exchange rate for future transfers. This means you'll avoid unpredictable movements in exchange rates. A limit order allows you to wait until a favourable exchange rate is found before locking in your transfer.
  • Pay attention to taxes and regulations. Every country regulates money transfers differently. Make sure your recipient is aware of any tax or reporting obligations that apply to your transfer. Learn more about tax guidelines and regulations for large transfers to Australia in our guide.
  • Watch out for scams. Scams cost Australians over $2 billion in 2021 and hit $3.1 billion in 2022. It's usually best to avoid sending money to anyone you don't know personally and keep an eye out for common money transfer scams.

Best international money transfer apps

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77 Responses

    Default Gravatar
    FrankAugust 18, 2019

    If I transfer money to a supplier from overseas and I do not receive the goods, can I get my money back?

      Avatarfinder Customer Care
      JeniAugust 18, 2019Staff

      Hi Frank,

      Thank you for getting in touch with Finder.

      How you may get your money back if the supplier did not send you your goods is beyond the money transfer company’s control. The money transfer company would only process transferring the money to the sender’s designated recipient and whatever deal you have with your supplier is none of the money transfer company’s liability. It is best that you speak with your supplier on assurance of getting your goods before or after the money transfer.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    SimonApril 20, 2017

    How much is $100 to Zambian kwacha?

    Is possible that someone living in another Country can receive the money using Money Gram by just using his/her name and the Country?

      Avatarfinder Customer Care
      HaroldApril 21, 2017Staff

      Hi Simon,

      Thank you for your inquiry.

      1. How much is $100 to Zambian kwacha?
      Answer – In general, as of this time, US$ 100 =520 833.33 Zambia kwacha. Please note conversion rate differ based on your preferred provider.

      2. Is possible that someone living in another Country can receive the money using Money Gram by just using his/her name and the Country?
      Answer – Yes, it is possible as long as that person uses the needed and correct information. MoneyGram is available in over 197 countries. Please be sure to read our MoneyGram review page to learn more.

      I hope this information has helped.

      Cheers,
      Harold

    Default Gravatar
    MaggiAugust 20, 2016

    Friends have sold their properties in USA and are moving to Australia to live they have their super etc. They have made enquiries with their bank and western union and have found they will loose about 15% if transferring to a bank, They wish to buy a home here and that amount affects their options. Someone mentioned the money market but they do not know how to go about this, Can you help?

      Avatarfinder Customer Care
      ClarizzaAugust 22, 2016Staff

      Hi Maggi,

      Thanks for your question.

      We are a comparison website and as such, provide general advice only.

      There are migrant bank accounts especially designed for people who intend on moving to Australia. Migrant accounts come with different features and may waive certain fees for a period of time if you open an account before you arrive in Australia. Be sure to check the fees in detail though as each product charges different fees and has different features.

      You may also find our Australia to the US movingto help you learn more about moving to Australia from the US. Hope this helps.

      Regards,
      Clarizza

    Default Gravatar
    GeorgeAugust 16, 2016

    what is the cheapest method of transferring Australian currency for the purchase of property in Cyprus

      Default Gravatar
      ChesterAugust 16, 2016

      Hello George,

      Thanks for your question.

      You may safely send money to Cyprus by clicking on this link https://www.finder.com.au/send-money-to-cyprus We have created this page to provide you so with information on fees and processes on how you may successfully process a remittance to Cyprus.

      Hope this helps.

      Cheers!
      Chester

    Default Gravatar
    KarenJuly 12, 2016

    USD transfer sent from HSBC to the USA, Bank of New York Mellon, Western Union Business Solutions and finally to a USA based credit union.

    I am not concerned about the exchange rate, though I would like an idea of how long this would take in business days.

    Your estimates above are confusing.

    Also would it have been any different if the transfer had of just been from HSBC directly to the USA based credit union?

    Many thanks.

      Avatarfinder Customer Care
      ClarizzaJuly 27, 2016Staff

      Hi Karen,

      Thanks for your comment.

      Our table shows HSBC transfer could take 1 to 2 business days online if transferred only or 3 to 5 business days if transferred via phone transfer.

      Hope this helps.

      Clarizza

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