Looking for the best provider to send money overseas? Don't worry, we've gone ahead and done the hard work. We've researched providers' fees and compared their exchange rates to come up with our top picks for 6 different transfer options - including large transfers, business transfers and cash transfers. Let's take a look.
Best money transfer services in Australia
These are our picks for the best money transfer providers for a variety of transfer types for 2025.
TorFX is a great option for larger money transfers because there are no transfer fees and you can get more competitive exchange rates when transferring larger amounts.
However it's not the cheapest option for smaller money transfers, so keep that in mind.
We currently don't have that product, but here are others to consider:
How we picked these
Xe - Best for small transfers
When it comes to small money transfers, you don't want expensive transfer fees or weak exchange rates eating into the amount your recipient gets. Xe charges a low flat fee of $4 for transfers under $500. This keeps costs low.
We currently don't have that product, but here are others to consider:
How we picked these
Wise - Best for exchange rates
It's hard to beat Wise when it comes to exchange rates as it's one of the few providers that give the mid-market rate. This means that the exchange rate you are quoted by Wise is the best possible rate available. However, exchange rates are just one piece of the puzzle, so it is still worth comparing the overall cost of the transfer to make sure you are getting the best deal.
Close runners-up were OFX and Remitly. OFX offers competitive exchange rates but doesn't quite have the same reach or easy-to-use user experience as Wise. Meanwhile, if you are a new customer with Remitly, you can benefit from a promotional rate which makes them cheap for the first few transfers.
Why we picked Wise for exchange rates:
Always offers the mid-market rate.
Wide reach - send money to 80 countries.
Multiple payment options including Google Pay & Apple Pay.
We currently don't have that product, but here are others to consider:
How we picked these
Learn more about how to get the best exchange rate in our helpful guide.
Instarem - Best for fast transfers
It was neck and neck when it came to picking the top money transfer service for fast transfers. Instarem narrowly won out over Wise because - as the name suggests - it specialises in making instant transfers.
When using Instarem you can expect your money to arrive at your chosen destination within minutes or on the same day. The exact time varies depending on the currencies involved. But if you want to ensure an early arrival, pay with your debit or credit card for an almost instantaneous transfer.
Why we picked Instarem for fast transfers:
Most transfers arrive instantly or within the same day
If you need to get cash to a loved one abroad then Western Union's massive network of locations is a convenient option. Western Union has around 525,000 agent locations globally in over 200 countries, making it one of the largest money transfer services.
With Moneygram being its main competition, you are likely to find a Western Union location in whichever country or city you need. So if you need to send cash to someone without a bank account, or it's important the funds get there fast, Western Union is among our top recommendations.
Why we picked Western Union for cash transfers:
525,000 agent locations in more than 200 countries.
If you are a business that makes regular international money transfers, you will be looking for a service that offers competitive exchange rates and even perks like loyalty points.
We compared the best business transfer services around and our top pick is Qantas. Qantas Business Money is powered by Airwallex and helps your business make payments at exchange rates of up to 70% cheaper than traditional banks. There's also a Business Rewards program where you can earn 1 Qantas Point on every $10 equivalent converted on foreign currency conversions. These points can be redeemed to save on flights, hotels and other purchases - making it an attractive option in Australia.
Why we picked Qantas for business transfers:
Competitive exchange rates on business transfers
Attractive business rewards program for Australians
Batch transfers feature to make multiple transfers at once
Our top picks are selected out of 26 money transfer services and sorted into 6 specific categories to meet all of your transfer needs. Our editorial team reviews brands according to the most important features for each category and compars them against other providers. We also took into account first-hand experience with providers and additional services we felt were relevant.
When choosing a money transfer service, be sure to consider your own personal objectives, needs and circumstances before making a decision using our top picks. Read our full methodology here to find out more.
Features we prioritise:
Total cost for bank transfer above $10,000
Maximum transfer amount
Discounts for larger transfers
FX tools to hedge currency risk
Dedicated account manager
Features we prioritise:
Total cost for transfers $1,000 - $9,999
Mobile app user experience
Easy sign-up process
Customer service
Coverage
Transfer speed
Features we prioritise:
No exchange rate markup
Exchange rate alerts
Multi-currency account
Features we prioritise:
Delivery speeds for bank transfers
Delivery speeds for cash pickup
Offer same-day transfers
Features we prioritise:
Number of agent locations
Transfer speed
Receiving methods
Payment methods
Features we prioritise:
Total cash for bank transfers
Forex tools to hedge risk
Personal account manager
Accounting tool integration
Reputation
Top 5 money transfer brands for customer satisfaction in 2024
We currently don't have that product, but here are others to consider:
How we picked these
Bottom line
There isn't a one size fits all approach when it comes to international money transfers, as it depends on your circumstances. This makes it difficult to declare a "best overall money transfer service", each provider has different pros and cons.
Having said that, there are some stand-out money transfer specialists that are worth considering. We believe that Wise, TorFx and Revolut offer pretty good and versatile services overall, covering most of what you need from a money transfer service.
Frequently Asked Questions
First, you need to select how much money you wish to transfer and where you're sending it. You can then upload your funds to your money transfer provider, which will then convert your money at the mid-market rate and match you with a person sending funds in the opposite direction.
You'll need to take the following features into account when comparing peer-to-peer money transfer services. Exchange rates. The exchange rate is a very important factor when determining how much money you can save, so look for the company that offers the best rates. However, keep an eye out for companies that suck you in with great rates, but then slug you with high fees. Fees. Make sure you're aware of all the fees attached to your transaction. Does the company charge a flat fee or is it a percentage based on the amount you're transferring? Is the fee waived entirely if you transfer more than a certain amount? Minimum and maximum transfer amounts. You'll need to check how much a company will allow you to transfer since minimum limits might be too high for some and maximum limits may be too little for others. Transfer methods. Compare whether you can only lodge your transfer online or whether there are phone and in-person options available as well. Other extras. Compare whether providers allow you to lodge forward contracts, meaning you lock in an exchange rate for a transaction that will occur at a later date, or limit orders, which is where you lock in a minimum exchange rate and the transaction is not completed until the market fluctuates and your chosen rate is available. Customer service. Is the company known for providing excellent customer assistance? Is there an online help centre and live chat available? Can you email or phone for support and what are the hours that each provider's support centre is open? What currencies are available? You'll need to compare which currencies each provider offers and which destinations you can send money to.
When you're making an international money transfer, it's important to keep an eye out for exchange rates and fees. Poor exchange rates can eat up a big chunk of your money if you're not careful, while hidden fees can be a nasty surprise if you don't read the fine print before lodging a transfer. It's also essential that you ensure you are dealing with a reputable company. Do your research before you commit yourself so that you don't end up the victim of a dishonest provider.
Why compare money transfer services with Finder?
You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.
You save time. We spend 100s of hours researching money transfer options so you can sort the gold from the junk faster.
You compare more. Our comparison tools bring you more money transfer providers to compare.
With over 20 years of experience in property, finance and investment journalism, Sarah is a trusted expert whose insights regularly appear across television, radio, and print media, including Sunrise, ABC News, and Yahoo! Finance. She has previously served as managing editor for Your Investment Property and Australian Broker, and her expert advice has been shared over 2,500 times in 2023-2024 alone. Sarah holds a Bachelor’s degree in Communications and a Tier 1 Generic Knowledge certification, which complies with ASIC standards. See full bio
Sarah's expertise
Sarah has written 198 Finder guides across topics including:
i want to transfer 5000 aud into euro to a bank in berlin Germany
what are the charges by bank here and in berlin
Finder
HaroldDecember 22, 2017Finder
Hi Andy,
Thank you for your inquiry.
The fee would depend on the service you choose. If you wish to send a money to Germany you may want to consider the options from our comparison table. You should be able to compare different services based on their minimum transfer amount, speed, fees, and exchange rates.
When you are ready, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with your transfer or get in touch with their representatives for further inquiries you may have.
Please ensure you review the relevant Terms and Conditions before sending.
I hope this information has helped.
Cheers,
Harold
annetAugust 10, 2016
Is it possible to use a credit card to pay an invoice in US$ and how does that compare in costs?
Finder
ShirleyAugust 10, 2016Finder
Hi Annet,
Thanks for your question.
If the invoice accepts international money transfers directly, then it should be possible to pay from your credit card. You can learn more about this topic through our guide about transferring money using credit cards.
In terms of cost, the transaction might be treated as a cash advance which means you could get charged more interest plus a cash advance fee. It’s best to check with your credit card provider directly to enquire about how the transaction will be treated.
Compare international money transfer services to receive money here in Australia.
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We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
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When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
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We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.
You save time. We spend 100s of hours researching money transfer options so you can sort the gold from the junk faster.
You compare more. Our comparison tools bring you more money transfer providers to compare.
i want to transfer 5000 aud into euro to a bank in berlin Germany
what are the charges by bank here and in berlin
Hi Andy,
Thank you for your inquiry.
The fee would depend on the service you choose. If you wish to send a money to Germany you may want to consider the options from our comparison table. You should be able to compare different services based on their minimum transfer amount, speed, fees, and exchange rates.
When you are ready, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with your transfer or get in touch with their representatives for further inquiries you may have.
Please ensure you review the relevant Terms and Conditions before sending.
I hope this information has helped.
Cheers,
Harold
Is it possible to use a credit card to pay an invoice in US$ and how does that compare in costs?
Hi Annet,
Thanks for your question.
If the invoice accepts international money transfers directly, then it should be possible to pay from your credit card. You can learn more about this topic through our guide about transferring money using credit cards.
In terms of cost, the transaction might be treated as a cash advance which means you could get charged more interest plus a cash advance fee. It’s best to check with your credit card provider directly to enquire about how the transaction will be treated.