Top 10 Money Transfer Services - Australia
Service |
Features |
Score |
Transfer Money Now | ||||
|---|---|---|---|---|---|---|---|
1  | 
No transfer fees & Same day transfer
Conversion to any currency
Excellent customer support
Best service for transfers over $/£/€5,000 | AUD - USD Low AUD - EUR Low AUD - NZD Low | ASIC, FCA, FinCen | ||||
Time to Open Account A few minutes Sending Options Credit Card Debit Card Bank Account Receiving Options Bank Account Required Documents ID, Proof of Address Mobile Transfer Phone Support Advanced Currency Solutions | |||||||
2  |
Bank-beating exchange rates
Same-day transfer available
Option to wait & choose your own rate | AUD - GBP Low AUD - EUR Low | ASIC, CBI | ||||
Time to Open Account A few minutes Sending Options Bank transfer Mobile app Debit cards Receiving Options Bank account only Required Documents Passport/ID/Driver’s Licence, Proof of address (eKYC) Mobile Transfer Phone Support Payment Tracking | |||||||
3  |
Dedicated personal account manager
Great exchange rates, no transfer fees | AUD - EUR Low AUD - GBP Low | ASIC | ||||
Time to Open Account A few minutes Sending Options Credit Card Debit Card Bank Account Receiving Options Bank Account Required Documents ID, Proof of Address Spot Contracts & Forward Contracts Market Insight Phone Support | |||||||
4  |
Good fit for SMBs
Zero transfer fees | AUD - NZD Low | FCA, ASIC | ||||
Time to Open Account A few minutes Sending options Wire Transfer Debit Card Receiving Options Bank Account Required Documents ID Card, Proof of Address Local Account Solutions Mobile Transfers Locked-in Exchange Rates | |||||||
5  |
Instant card-to-card transfers
Send money to over 80 countries | AUD - EUR Med | FCA | ||||
6  |
Low fees and exchange rates
Door to door cash delivery option | AUD - EUR Med | FCA | ||||
7  |
No fees on all size transfers
Send money to 200+ countries | AUD - GBP Med |
80
Review | ASIC | |||
8  |
No minimum transfer amount
Same day express transfers | AUD - INR Med | FCA | ||||
9  |
No minimum transfer amount
Good customer service | AUD - USD High | FCA | ||||
10  |
Good fit for medium-large transfers
TrustPilot Best in “Money” category 2016 | AUD - USD High | FCA | ||||
Advertiser Disclosure
Latest Reviews
"After many hours of researching my best options for funding my daughter's overseas tuition, I went with XE.com and I am very satisfied with the cost being minimal and the process expedient."
Pros
- Fully regulated by the FCA, FinCen, ASIC, and FMA.
- $0 fees per transaction with highly competitive “mid-market” exchange rates
- Free accounts (personal & business)
- 170+ countries and 60+ currencies available
- Instant and professional customer support 24/7
Cons
- Cheques and cash payments are not accepted
- Maximum transfer amount of $500,000
"I've used it for a few years and it's always been very easy, quick and reliable. Rates are very competitive. Definitely recommend."
Pros
- CBI, ASIC, AFS MAS and C&E HK regulated
- Free to register
- Reliable customer service
- Average commission of just 0.35%
Cons
- Certain countries are excluded from using the service
"WorldRemit is fast, convenient and offers better transfer rates than my bank. Have used them several times and would definitely recommend them!"
Pros
- Low costs incurred in transferring funds
- Friend referral bonuses available to clients
- Fully licensed and regulated by the FCA of the UK
- Multiple options are available to pay for transfers including credit cards, debit cards, prepaid cards, e-wallets and others
Cons
- A little difficult to find information on exchange rates before you transfer funds
- Transfer amounts are limited
- Not all countries are covered by WorldRemit services
- Customer service options are limited
How to Compare Money Transfer Services
Top10MoneyTransfer recommends checking the following features when comparing online money transfer companies so you can find the best provider for your international transfer.
Safety
Check your chosen money transfer provider is regulated by a government authority, to ensure your money is safe & protected when transferred. The main regulators include:
– FCA (Financial Conduct Authority), UK
– ASIC (Australian Securities and Investments Commission)
– FinCEN (Financial Crimes Enforcement Network), USA
Fees & Rates
Some money transfer services charge a fixed transaction fee, others take a percentage of the transfer sum, while some services waive the transfer fee completely. The conversion rate is another money-maker for many services and as such poses yet another crucial pricing component to examine carefully. Consider the above to find the most cost-effective solution for your transfer.
Customer Support
Check the customer support channels available are convenient for you. These generally include email, online chat, phone or online ticketing system. In addition, some money transfer services provide a personal account manager to assist with special transactions and important tasks. Try checking this beforehand, to avoid stress when you need help.
Sending & Receiving Options
It’s important to confirm the sending options offered by your preferred money transfer provider are convenient for you. You should also ensure that your recipient is able to easily collect the money sent. Common sending options include bank transfer or credit card. Common receiving options include bank transfer and cash pickup.
Transfer Amounts
Another important element to consider is the amount of money you wish to transfer. Some services offer better features and benefits for large transfer amounts or business transfers, while others better handle small transfer amounts or cash transfers. Use our comparison table to determine which provider best suits your money transfer needs.
Transfers from Australia
Safety
ASIC, the main regulatory financial authority in Australia, is responsible for monitoring activities of Australia based financial services. It is highly recommended to use the services of a company registered and licensed by the ASIC when making a money transfer from Australia.
Ease of Onboarding
Most top-rated Australia based money transfer services offer a completely digital account opening and user-authorization process. Any required proof of ID documents can be supplied digitally, eliminating waiting times. With this option, new customers are able to complete the onboarding process online, in just a few minutes.
Fees and Rates
Australia is at the center of the modern FinTech industry, hence you can find a lot of different money transfer services to choose from. This gives users the option to use a service that charges minimal or no transaction fees combined with fair mid-market exchange rates. You can save on average up to 8 times on rates & fees by using top services like XE instead of a high-street bank such as Commonwealth Bank.
