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TransferWise Reviewed

 

TransferWise have been making waves in the global money transfer market since they came on the scene back in 2011.

TransferWise – Reviewed by Best Exchange Rates

They are the latest venture from some ex Skype engineers and have expanded from the London HQ to an increasing number of overseas locations including Australia and the USA.

Their publicity is famous for both bank-bashing and showing scantily clad devotees to represent their stated desire for transparency when it comes to fees and exchange rates…well that’s the excuse anyhow!
TransferWise is a private, peer-to-peer online money transfer company, which launched in 2011. Headquartered in London, the firm offers money transfer services to and from 17 countries, with the ability to send money to an additional nine countries.

Exchange Rates {
Customer Service 4
Ease of Use ;

Transferwise Foreign Transfer Rates & Fees - Compared

The below live Foreign Transfer comparison table shows how much you could save on your next foreign transfer by using a broker such as Transferwise rather than your bank. Note the margins are compared to the current mid-rate. You can change the currencies and send or receive amount with our full Foreign Transfer calculator.

 

Compare Foreign Transfers vs TransferWise logoTransferWise

Send AUD $10,000 → Receive USD

ProviderReceive Amount USDExchange RateCostReviewsLinks to Offers
OFX logoOFX
$7066.00 USD0.70660.95%
 
TransferWise logoTransferWise
$7048.58 USD0.70841.2%
 
HSBC logoHSBC
$6917.61 USD0.69283.03%
Bank of Queensland logoBank of Queensland
$6863.35 USD0.68843.79%
 
Citibank logoCitibank
$6856.76 USD0.68653.89%
ANZ Bank logoANZ Bank
$6841.66 USD0.68544.1%
 
NAB logoNAB
$6806.99 USD0.68224.58%
 
Banks - Average Rate
NAB logo Westpac logo ANZ Bank logo Commonwealth Bank logo St George Bank logo Citibank logo Bank of Queensland logo HSBC logo Bank of Melbourne logo BankSA logo
$6789.08 USD0.68024.83%
BankSA logoBankSA
$6728.51 USD0.67425.68%
Bank of Melbourne logoBank of Melbourne
$6727.84 USD0.67425.69%
Westpac logoWestpac
$6722.53 USD0.67365.77%
 
Commonwealth Bank logoCommonwealth Bank
$6720.97 USD0.67255.79%
 
St George Bank logoSt George Bank
$6704.56 USD0.67186.02%
 
 
OFX: rate, rating & reviews
From amount:$10,000 AUD
To amount:$7066.00 USD
Exchange Rate:0.7066
Total Cost:0.95% (against AUD/USD mid-rate: 0.7134)
Timestamp:
Rate Fetched: Mon Oct 15 2018 08:00:05 GMT+0000 (UTC)
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: rate, rating & reviews
From amount:$10,000 AUD
To amount:$7048.58 USD
Exchange Rate:0.7084
Total Cost:1.2% (against AUD/USD mid-rate: 0.7134)
Difference:
$17 USD less than using OFX
Timestamp:8:45 Local
Rating:
 
: 4.6/5.0
Reviews:
HSBC: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6917.61 USD
Exchange Rate:0.6928
Total Cost:3.03% (against AUD/USD mid-rate: 0.7134)
Difference:
$148 USD less than using OFX
Timestamp:
Rating:
: /5.0
Reviews:
Bank of Queensland: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6863.35 USD
Exchange Rate:0.6884
Total Cost:3.79% (against AUD/USD mid-rate: 0.7134)
Difference:
$203 USD less than using OFX
Timestamp:
Rating:
 
: 3/5.0
Reviews:
Citibank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6856.76 USD
Exchange Rate:0.6865
Total Cost:3.89% (against AUD/USD mid-rate: 0.7134)
Difference:
$209 USD less than using OFX
Timestamp:
Rating:
: /5.0
Reviews:
ANZ Bank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6841.66 USD
Exchange Rate:0.6854
Total Cost:4.1% (against AUD/USD mid-rate: 0.7134)
Difference:
$224 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:03:04 GMT+0000 (UTC)
Rating:
 
: 3/5.0
Reviews:
 
NAB: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6806.99 USD
Exchange Rate:0.6822
Total Cost:4.58% (against AUD/USD mid-rate: 0.7134)
Difference:
$259 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:05:03 GMT+0000 (UTC)
Rating:
 
: 2.1/5.0
Reviews:
 

Banks - Average Rate
NAB logo Westpac logo ANZ Bank logo Commonwealth Bank logo St George Bank logo Citibank logo Bank of Queensland logo HSBC logo Bank of Melbourne logo BankSA logo

Banks - Average Rate :
From amount:$10,000 AUD
To amount:$6789.08 USD
Exchange Rate:0.7006
Total Cost:4.83% (against AUD/USD mid-rate: 0.7134)
Difference:
$277 USD less than using OFX
BankSA: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6728.51 USD
Exchange Rate:0.6742
Total Cost:5.68% (against AUD/USD mid-rate: 0.7134)
Difference:
$337 USD less than using OFX
Timestamp:
Rate Fetched: website - 8:45 Local
Rating:
: /5.0
Reviews:
Bank of Melbourne: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6727.84 USD
Exchange Rate:0.6742
Total Cost:5.69% (against AUD/USD mid-rate: 0.7134)
Difference:
$338 USD less than using OFX
Timestamp:
Rate Fetched: website - 8:45 Local
Rating:
: /5.0
Reviews:
Westpac: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6722.53 USD
Exchange Rate:0.6736
Total Cost:5.77% (against AUD/USD mid-rate: 0.7134)
Difference:
$343 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:04:04 GMT+0000 (UTC)
Rating:
 
: 2/5.0
Reviews:
Commonwealth Bank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6720.97 USD
Exchange Rate:0.6725
Total Cost:5.79% (against AUD/USD mid-rate: 0.7134)
Difference:
$345 USD less than using OFX
Timestamp:
Rate Fetched: website - Mon Oct 15 2018 08:02:01 GMT+0000 (UTC)
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: rate, rating & reviews
From amount:$10,000 AUD
To amount:$6704.56 USD
Exchange Rate:0.6718
Total Cost:6.02% (against AUD/USD mid-rate: 0.7134)
Difference:
$361 USD less than using OFX
Timestamp:
Rate Fetched: website - 8:45 Local
Rating:
 
: 1/5.0
Reviews:
 
Sending a LARGER foreign transfer? Request a free multiple-vendor quote: Get Quotes
* Cost = exchange rate margin + fees vs AUD/USD mid-rate: 0.7134
Rates @ 10/15/2018
 

Exchange Rates

TransferWise makes reasonable efforts to match transactions at exchange rates aligned to the mid-market rate at the global currency markets.

Unless the exchange rate is locked-in pursuant to the section below, TransferWise converts your transaction amount by matching it with a number of different counterparties.

TransferWise Smart Global Transfers

Visit TransferWise and Save

Transferwise changes Eurozone fee structure

In late June 2018, Transferwise introduced a new fee structure for Eurozone foreign transfers (from EUR) … and as always with Transferwise its complicated so we will break it down for you! More expensive for Card payments In most European countries your bank takes 0.20% from your payment as debit card interchange. Add scheme fees […]

2 Jul, 2018 by BER Team

Transferwise changes UK fee structure

In October 2017, Transferwise introduced a new fee structure for foreign transfers from the UK … its complicated so we will break it down for you! Percentage fee The first part of your fee is expressed as a percentage of the amount you’re sending. Transferwise has cut this percentage fee on all but three routes […]

2 Jul, 2018 by BER Team

Related Posts

Reviews - Average Rating: 4.5

4 Reviews for “TransferWise Reviewed”

  1. Estefania Diaz Clavijo says:

    5 star customer service and service. Thanks for revolutionizing worldwide bank transfers! 😀

    Exchange Rates 5
    Customer Service 4
    Ease of Use 5
  2. gg says:

    Great experience !! Quick and easy to use !!!

    Exchange Rates 5
    Customer Service 4
    Ease of Use 4
  3. Sue S says:

    If you want to transfer funds from one country to another, this service is great – and much easier and much better value than having a normal bank do it. And when I have needed help the staff on the Chat function and on the phone have been super-helpful.

    Exchange Rates 4
    Customer Service 4
    Ease of Use 4
  4. BER Team says:

    Quick, easy and straightforward . Great for sending smaller amounts quickly

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