Compare Money Transfer in Australia

Live offers

25 live offers compared from 15 providers, from £3.99 /month. Updated daily.

What is international money transfer in Australia?

International money transfer services let you send money overseas from Australia, whether to support family, pay for property, tuition or business, or move funds between your own accounts abroad. Specialist providers and fintechs usually offer better exchange rates and lower fees than the major banks. Transfers can settle within minutes for cash pickup or app-to-app services, or take one to two business days for bank deposits, depending on the provider and the destination country.

How the Australian market works

Australia has a competitive money-transfer market where specialist providers compete on the exchange-rate margin and transfer fees, rather than the wider spreads the banks typically apply. Providers must be registered with AUSTRAC, the financial-crime regulator, and comply with anti-money-laundering and counter-terrorism-financing rules, which is why identity verification is required before you can send. Some providers also offer forward contracts and limit orders to lock in a rate for a future transfer, useful for larger or planned payments.

Benefits of using a specialist

Better exchange rates — Fintech and specialist providers usually offer rates much closer to the mid-market rate than the banks, meaning more reaches your recipient.

Lower or no fees — Many charge a low flat fee or none at all, making the total cost of the transfer cheaper than a bank wire.

Speed and tracking — App-based services often deliver within minutes or hours and let you track the transfer's progress in real time.

How to choose a provider

Compare the total cost, which is the exchange-rate margin plus any transfer fee, not just the advertised headline fee. Check the delivery speed, the payout options available in the destination country such as bank deposit or cash pickup, and any transfer limits. For large or recurring transfers, consider providers offering forward contracts or better rates at higher volumes, and always confirm the provider is AUSTRAC-registered and appropriately licensed.

Leading providers in Australia

The comparison features Wise, Revolut, OFX, Western Union, Remitly, XE Money, WorldRemit and TorFX. Wise and Revolut are known for transparent mid-market rates on smaller transfers, OFX and TorFX suit larger amounts with dedicated dealers and phone support, and Western Union, Remitly and WorldRemit offer wide global reach including cash pickup in many countries. The best choice depends on the amount you are sending, the destination and the delivery method.

What it costs

Fees in this comparison range from about A$3.99 to A$55, but the fee is only part of the cost — the exchange-rate margin often matters more, especially on larger transfers. Some providers advertise zero fees but build their profit into a wider exchange rate, so the transfer is not truly free. Comparing the final amount your recipient will actually receive is the most reliable way to judge value between providers. Rates and margins can also vary with the transfer size and currency pair, so the cheapest provider for a small remittance is not always the cheapest for a large one-off transfer such as a property deposit.

Protections and regulation

Money-transfer providers must be registered with AUSTRAC and comply with anti-money-laundering and counter-terrorism-financing laws, and those offering financial services need appropriate ASIC licensing with AFCA membership for disputes. Transferred funds are not bank deposits and are not covered by the Financial Claims Scheme, so use established, regulated providers and carefully verify the recipient's details before confirming, as international transfers can be difficult to reverse.

Common questions

Why is the cheapest fee not always the cheapest transfer? — Because the exchange-rate margin can outweigh the fee; always compare the final amount received in the destination currency rather than the advertised fee alone.

How long does a transfer take? — From minutes for cash pickup or app-based services to one or two business days for bank deposits, depending on the provider and the destination country.

Money Transfer in Australia — FAQ