Top 10 Money Transfer Services - Australia
Service | Features | Score | Transfer Money Now | ||||
|---|---|---|---|---|---|---|---|
1  |  Best service for transfers over $/£/€1,000 No transfer fees & Bank-beating rates Most transfers occur within minutes Conversion to any currency | AUD - USD Low AUD - EUR Low AUD - NZD Low | FCA, FinCen, 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 Mobile Transfer Phone Support Advanced Currency Solutions | |||||||
2  | No fees on all size transfers Send money to 200+ countries Price beat guarantee | AUD - GBP Low AUD - USD Low | ASIC | ||||
Time to Open Account A few minutes Sending Options Bank transfer Receiving Options Bank transfer Required Documents ID, Proof of Address Recurring Transfers Phone Support 24/7 Processing | |||||||
3  | Bank-beating exchange rates Same-day transfer available | 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 | |||||||
4  | Dedicated personal account manager Great exchange rates, no transfer fees | AUD - EUR 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 | |||||||
5  | Good fit for SMBs Zero transfer fees | AUD - NZD Med | FCA, ASIC | ||||
6  | Instant card-to-card transfers Send money to over 80 countries | AUD - EUR Med | FCA | ||||
7  | Low fees and exchange rates Door to door cash delivery option | AUD - EUR Med | FCA | ||||
8  | No minimum transfer amount Good customer service | AUD - USD High | FCA | ||||
9  | 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
"Couldn't believe how fast the transfer was to New Zealand, my money was transferred and there within an hour. Plus the service made everything so easy. Much better rates as well"
Pros
No Fees on money transfers
Highly competitive exchange rates
Excellent customer support and service
SendFX Visa Card with exclusive benefits
Fully licensed and regulated by Australian authorities (ASIC)
Cons
- Registration is required before any exchange rates can be seen
- Send and receive transfer methods are limited to bank to bank transfers
- FAQ section does not provide information on supported countries, currencies, or rates
"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
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.
