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MoneyTransfers aims to help users find the best money transfer provider for their needs. To support our free service, we may earn a commission from some of the providers listed in our search results. The commission may also impact the ordering of the providers shown. Our reviews are independent from this and are based on our research and testing of dozens of remittance providers on the market.
Table of contents
If you're sending money overseas from Australia, a specialist money transfer company will almost always beat your bank.
You get better rates, lower fees, and faster transfers than a bank or PayPal.
All rates, fees, and amounts on this page updates weekly, checked through our comparison engine and real test transfers.
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At a glance
We compared live rates and ran test transfers across 200+ providers. Here's the short version:
Wise: best for everyday transfers and travel
OFX: best for large transfers (think A$10,000 and up)
Revolut: best all-in-one app, now a licensed Australian bank
Remitly: best for cash pickup and sending money home
Airwallex: best for business payments
The best money transfer companies for Australian customers
Money transfer companies are a cheap, fast, and safe way to send money overseas from Australia.
Here are the best money transfer companies in Australia for different use cases.
All rates and fees are based on our live comparisons and analysis.
"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
"Airwallex offers a comprehensive financial platform for businesses. Make global transfers to 150+ countries, receive funds in 20+ currencies. Connect with popular software for a seamless approach."
Wise
Overall best option for transfers from Australia.
Wise is our top pick for sending money from Australia.
It's hard to name one best service, since everyone needs something different.
But I like Wise because it gets a lot of the small things right, like good rates, broad reach, and low fees.
Wise always uses the mid-market rate (so no hidden markup), and fees usually start from around 0.63% depending on the currency and amount. Here are a few examples:
"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
Instarem
Cheapest option for transfers to Asia.
Instarem is our top pick for cheap transfers to Asia.
If you're sending to India, the Philippines, Vietnam or most of Asia, it's usually one of the cheapest options.
Here are a few examples:
AUD
Corridor
They get (after fees)
Transfer speed
No results, please ensure you have currencies selected
Instarem is an app only, and you can fund a transfer with PayID, a bank transfer, or a debit or credit card.
There's no limit by PayID or bank, but card payments cap at A$20,000 per transfer. The minimum is A$1, so it works for small amounts too.
You also earn InstaPoints as you send, which you can put towards later transfers.
Instarem is run by NIUM and regulated by ASIC (AFSL 464627) and AUSTRAC, keeping customer money separate from company funds.
We have a deal with OFX, so the rate you get through us can differ from going direct.
OFX covers over 170 countries and 50+ currencies, so it handles the major routes and more exotic ones.
It's bank-to-bank only though, so no cash pickup or mobile wallet.
Transfers usually take 1 to 5 business days depending on the currency.
You can lock a rate up to 12 months ahead with a forward contract, set a target rate that books automatically when the market hits it, and schedule recurring transfers.
OFX is regulated by ASIC (AFSL 226484) and registered with AUSTRAC, and as an ASX-listed company it keeps customer funds separate from its own.
"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."
Xe
The fastest way to send money abroad from Australia.
Most transfers under A$2,000 to A$3,000 are often delivered within minutes, especially when you fund by PayID or card.
Speed only really becomes a question on exotic currencies and larger amounts.
You can send to 190+ countries in 130+ currencies, so it's a strong option for harder-to-reach places.
Xe charges a fee and a markup depending on the destination and the amount you send:
Xe works online and through the app. From the reviews and test transfers I did, its app is one of my favourites. It's easy to use, lets you track rates and check them before you sign up, and just works.
On transfers over A$50k, you get an account manager like you would with OFX or similar brokers.
Xe is regulated by ASIC and registered with AUSTRAC. It keeps customer funds separate, and is owned by Euronet.
However, Xe is rarely the cheapest company and there are no cash pickup options.
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
Revolut
Revolut is my pick if you want banking and transfers in one app.
As of 21 July 2026, Revolut holds a full Australian banking licence and now runs as Revolut Bank Australia.
This means your AUD deposits will be covered by the Financial Claims Scheme up to A$250,000 (foreign-currency balances aren't covered, though).
With Revolut you get a multi-currency account, a card, savings, and international transfers all in one app.
On the free Standard plan you can exchange currency at the mid-market rate up to about A$2,000 a month, then a fee of 1% applies, as well as 1% additional fee on the weekends.
It’s actually a good deal compared to many other options if you can avoid transfers on the weekends:
Revolut to Revolut transfers are instant and free, anywhere in the world.
Paid plans lift the limits and drop the weekend fee, but are more expensive in Australia compared to other countries (ranging from A$5.99 to A$99.99).
I use my Revolut card (standard plan) all the time when I travel. In my opinion it offers a good balance of FX rates and ATM limits, plus, it now keeps balances protected.
The only times I’d avoid using Revolut is on the weekend, beyond the monthly limit, or if you need to send / receive cash.
"Revolut has 70+ million customers globally. You can hold up to 25+ currencies in the app and send money quickly in 25+ currencies to 140+ countries."
US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.
Remitly
Remitly is our top pick for sending money home to family.
It’s great for getting money to people in Asia, Africa and Latin America by cash pickup, mobile wallet, or bank deposit.
Remitly offers two transfer options:
Express: same day transfers but more expensive
Economy: cheaper but can take a day or two
But even without the express option, Remitly offers multiple ways to receive money that others don’t.
Here are a few examples of what you can expect in terms of costs:
AUD
Corridor
They get (after fees)
Transfer speed
No results, please ensure you have currencies selected
For the Philippines you get mobile wallet payout like GCash, cash pickup at thousands of locations, and home delivery. It's the same idea for India and the other big corridors.
Remitly is regulated by ASIC and AUSTRAC, and safeguards the funds (keeps your money separate from company money).
Remitly offers multiple promotions for first time transfers, but beyond that it is usually a bit more expensive compared to Revolut and Wise.
In my opinion, it is great if you need specific delivery options besides bank deposits and don’t need your money to arrive urgently.
Airwallex is our top pick for B2B money transfers.
You get a multi-currency account that holds 20+ currencies, with local bank details in around 21 countries including AUD, USD, GBP, EUR, SGD and NZD.
This lets your business receive money like a local, hold funds, and transact in 60+ currencies.
Fees are a bit complicated compared to similar options like Wise Business:
There's a free Starter plan and paid tiers
FX starts from 0.5% above the interbank rate on major currencies (1% on the rest)
Local transfers to 120+ countries are free
SWIFT transfers have additional fees
You also get corporate cards, batch payments, expense management, and API access.
Airwallex is regulated by ASIC (AFSL 487221).
In my opinion, it is great for SMEs paying international suppliers, staff or contractors. But, if you just need to send the odd business payment, Wise Business is cheaper and simpler.
"Airwallex offers a comprehensive financial platform for businesses. Make global transfers to 150+ countries, receive funds in 20+ currencies. Connect with popular software for a seamless approach."
Financial Claims Scheme protection
When you send a transfer, you pay the provider first and they hold your money until it's converted and sent.
During that short window it isn't covered by the Financial Claims Scheme (FCS).
The FCS only covers deposits at a licensed bank (an ADI) anyway, not money transfers.
Every provider we list is regulated by ASIC and registered with AUSTRAC, and keeps your money in separate accounts from its own.
So it's safe in practice, but it's worth knowing your money sits with them for a bit.
Banks vs money transfer companies
Whenever you make an international transfer, it needs to get from point A to point B.
The way it gets from A to B, is what determines the cost and speed of your transfer (this is known as rails).
Your bank (think ANZ, Westpac, NAB, etc.) will use a SWIFT transfer.
This is when your money moves from one bank to another until they reach the destination.
Each bank on the way (known as intermediary) will take a small fee. And, since it goes from bank to bank, it can only move when the bank is opened.
This creates two problems:
Add up all the intermediary fees and it gets very expensive very quickly
Add up all the weekends, public holidays, etc. and it gets very slow
Money transfer companies on the other hand do not use SWIFT in most cases.
Instead, they will use local bank accounts behind the scenes.
You add money into an AUD account, and your recipient pulls it out of their local account in their country.
The money never crosses the border, never needs to go through intermediaries, or never gets slowed down by banking hours.
When there is no local account, money transfer companies fall back to other rails depending on the countries, it can be SEPA, SWIFT, or local rails.
This is why many companies don’t offer the same destinations. It all comes down to how quickly and cheaply they can serve them.
Cheapest money transfer companies
Cost depends on the amount, the destination, and how you pay.
To get the most of your AUDs, use a provider close to the mid-market rate and fund by bank transfer or PayID rather than card.
Here are the cheapest options for sending money from Australia based (use the tabs to switch amounts):
Artiom is a marketing graduate from the University of Portsmouth and has been working across personal finance and remittance industries for several years. He optimises the organic experience on MoneyTransfers.com with the content team, manages and creates unique marketing tactics, and generally supports the overall growth of the website.
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