Top 10 Money Transfer Services - AU - Feb. 2019
Compare Top Money Transfer Services & Send Money at Best Rates!
Service |
Score |
Support |
Transfer Money Now | ||||
|---|---|---|---|---|---|---|---|
1  | ASIC, CBI | 0-2 Days | AUD EUR Low AUD GBP Low AUD USD Med | First 3 free transfers with top10moneytransfer.com Direct comparison to local banks rates |     | ||
Time to Open Account A few minutes Sending Options Bank transfer Mobile app Credit card (Irish only) Receiving Options Bank account only Required Documents Passport/ID/Driver’s Licence, Proof of address (eKYC) Mobile Transfer Phone Support Payment Tracking | |||||||
2  | FinCen, FCA, ASIC | 0-2 Days | AUD USD Low AUD EUR Low | No transfer fees Widely trusted currency authority | | ||
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 | |||||||
3  | FCA | 0-3 Days | EUR INR Low EUR GBP Med | Cash pick-up collection points in minutes Instant transfers to mobile money accounts |   | ||
Time to Open Account A few minutes Sending Options Bank Account Mobile App Receiving Options Cash pickup Bank transfer Mobile money Airtime top up Door-to-door Required Documents ID Documentation, Proof of Address Mobile/App Transfers Social Media Support SMS/email Notification | |||||||
4  | FCA, FinCen, ASIC | 0-2 Days | AUD USD Low | Good fit for online sellers 7 local currency accounts |  | ||
5  | FCA, FinCEN | 1-2 Days | AUD USD Med | Trusted worldwide since 1998 Zero transfer fees | | ||
6  | FCA, FinCEN | 0-3 Days | AUD USD Med | Transfer money via app, online or phone Segregated accounts for customers | | ||
7  | FCA (UK) | 0-2 Days | AUD USD Med | Dedicated private/corporate window Portfolio includes spot transactions | | ||
8  | FCA | 0-3 Days | AUD USD Med | The app is very useful Good customer service | | ||
9  | FCA | 1-2 Days | AUD USD High | Transfer online 24/7 TrustPilot Best in “Money” category 2016 | | ||
10  | FCA (UK) | 1-2 Days | Transfer Fees: High Exchange Rate: High | Tailored to individual needs including lock in rates Currency cards and travel cash | | ||
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Top10moneytransfer.com is an independent professional comparison site that provides users with free and valuable information on leading money transfer services. Top10moneytransfer.com is supported by referral fees from listed companies. We do not provide a listing of each and every company in the market. We do not guarantee 100% accuracy of the information. The information which appears on this site is subject to change at any time. We aim to help users make an informed choice that best suits their particular needs.
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."
Brenda - October 24, 2018
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."
Greg Anguise - November 8, 2018
Pros
- ASIC and AFS regulated
- Free to register
- Reliable customer service
- Average commission of just 0.35%
Cons
- Platform usability is not excellent
- Details of withdrawal fees are not easily found
- Certain countries are excluded from using the service
"Fast and efficient service, I have full confidence in WorldFirst and make the transfer of funds so easy."
Vanja J Ingold - July 15, 2018
Pros
- Free account
- No transfer fees for personal and online seller accounts
- Bank-beating exchange rates
- Local receiving accounts
- Excellent support
- Fully regulated & licensed
- Safe and secure money transfers
Cons
- Slower transfers for specific locations (mostly South America)
- Additional inquiry necessary for info on destination countries and supported currencies
How To Compare Money Transfer Services
Top10moneytransfer uses the following checklist of important things to take into consideration when comparing the different services before making an international money transfer.
- Safety. The money transfer industry is a highly regulated field, with multiple regulatory agencies and authorities issuing licenses to money transfer companies, including FCA (Financial Conduct Authority), UK, ASIC (Australian Securities and Investments Commission), FinCEN (Financial Crimes Enforcement Network), USA.
There are many more regulatory agencies besides these three examples, and all of them serve the same purpose: to prevent companies from taking advantage of trusting consumers. Make sure to examine the regulation of the chosen service.
- Fees & rates. Some services charge customers a fixed transaction fee, others take a percentage of the transfer sum, and there are also services that waive the transaction fee completely. Explore the breakdown of fees thoroughly to choose the most cost-effective solution. The conversion rate is another money-maker for many services and as such poses yet another crucial pricing component to examine carefully.
- Customer support. Before clicking on “Send Money”, ask yourself if the customer support is available by phone 24/7 in the event you’re in need of urgent assistance. In addition, some 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. Your goal is to ensure that your recipient is able to easily collect the money sent. Depending on the available sending and receiving locations and the provided services, options will vary. Sometimes a cash pickup is available, sometimes you need to transfer the funds to the recipient’s bank account. Other money transfer services use their own virtual accounts for money transfers. Check the options before sending your money.
- Transfer amounts. Some services are specifically designed and offer serious benefits for large transfer amounts or business transactions, while others better handle small cash transfers. In this case, use our comparison table to determine what suits you best.
Transfers From Australia
- Safety. The ASIC (Australian Securities and Investments Commission), the main regulatory financial authority in Australia, is responsible for monitoring activities of Australian 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.
- Business and Remittance Transfers. Due to its geographical position, Australia is a strategic business hub for the so-called “Asia-pacific” region, connecting families and companies across the region, thus a leading player in such transfer corridors as Australia to Singapore, India, Malaysia, Philippines, and Vietnam. Some companies like CurrencyFair, WorldFirst, and WorldRemit are well-established service providers with strong expertise in this region.
- Top 3 currency corridors (AUSTRALIA)- AUD/GBP; AUD/USD; AUD/EUR