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BER – Our Story

OFX International Money Transfers

  • Low cost and transparent fees
  • Excellent customer service and advice
  • Support is available 24/7 online or by phone
  • Rapid funds transfer with large network of banking partners

Best Exchange Rates aims to help individuals and small businesses understand and save money in international money transfer and currency exchange markets through guides, reviews, ratings, comparisons, an advanced FX calculator, and news.

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BER was launched in 2009 by David Brown,  Founder and CEO.

We provide a foriegn exchange comparison and marketing platform that empowers individuals and businesses to save money in their overseas currency transactions through connecting them with award-winning, regulated foreign exchange experts.

Our partner vendors can assist with an international money transfer whether it be for buying a house overseas, to support an overseas relocation, paying overseas tuition fees or for travel money. 

To date, we have connected thousands of people with foreign exchange experts who have enabled them to save money on their international money transfer.

BER is headquartered in Sydney, with offices in Hong Kong and London.

Founder & CEO, David Brown

Prior to founding BER, David spent a decade at the frontier of Foreign Exchange and technology building FX systems for tier one investment banks in Sydney and London. David also spent some years at Bloomberg and French aerospace immersed in building space vehicle telemetry systems and mission critical air traffic control systems.

David Brown CEO BER

As an active member of Fintech Australia, David stays engaged with latest developments in technology. He also travels frequently with his British partner and dual citizen 4-year-old.

 

BER Mission

BestExchangeRates is the premier global exchange rate comparison platform for retail and small businesses. The BER comparison algorithms save you time and money finding which vendor is offering the best rate for cash exchange and money transfers right now.

The aim of the platform is to empower individuals and small businesses to navigate the complex and often perplexing, international money transfer market through guides, reviews, ratings, comparisons, an advanced FX calculator, and news.

The problem we are solving

Banks and currency brokers make their money from both fees and the exchange rates they offer.

Everyone is aware of the fees but few people realise the rate they get is not the mid-rate you see on the news.

That is because generally the vendors hide this mid-rate from you as they are marking it up significantly – to their own benefit.

This is the problem we are solving at BER via our transparent pricing calculator – vendor rates are shown alongside the latest market mid-rate and with each vendor’s percentage margin and fees.

 

Foreign Transfer ProvidersReceive USD($)Exchange RateFee AUDTotal CostDeal Links
WorldFirst logo
6,755 USD
Best Overall
0.675500.5%
OFX (OzForex) logo
6,735 USD
20 USD
0.67350^0.8%
TorFX logo
6,680 USD
75 USD
0.66801.61%
Westpac logo
6,722.53 USD
32 USD
0.6736200.98%
ANZ Bank logo
6,614.07 USD
141 USD
0.6626182.58%
BankSA International Money Transfers
BankSA logo
6,537.89 USD
217 USD
0.655120.013.7%
Bank of Melbourne International Money Transfers
Bank of Melbourne logo
6,537.24 USD
218 USD
0.6551213.71%
Bank of Queensland logo
6,531.35 USD
224 USD
0.6551303.8%
Banks - Average Rate
National Australia Bank (nab) logo Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo Bank of Queensland logo Bank of Melbourne logo BankSA logo
6,524 USD
231 USD
0.6537153.9%
National Australia Bank (nab) logo
6,477.72 USD
277 USD
0.6492224.59%
Commonwealth Bank (CBA) logo
6,393.16 USD
362 USD
0.63976 5.83%
St George Bank logo
6,378.22 USD
377 USD
0.6391206.05%
 

WorldFirst logo

WorldFirst: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:
Exchange Rate:0.6755 (0.5% from mid-rate)
To Amount:6,755 USD
Total Cost:0.5%
Time:8:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

OFX (OzForex) logo

OFX (OzForex): Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:0.6735 (0.8% from mid-rate)
To Amount:6,735 USD
Total Cost:0.8%
Difference:
20 USD less than using WorldFirst
Time:
Rate Fetched: 8:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

TorFX logo

TorFX: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:0
Exchange Rate:0.6680 (1.61% from mid-rate)
To Amount:6,680 USD
Total Cost:1.61%
Difference:
75 USD less than using WorldFirst
Time:8:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
 

Westpac logo

Westpac: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:20
Exchange Rate:0.6736 (0.78% from mid-rate)
To Amount:6,722.53 USD
Total Cost:0.98%
Difference:
32 USD less than using WorldFirst
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 

ANZ Bank logo

ANZ Bank: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:18
Exchange Rate:0.6626 (2.4% from mid-rate)
To Amount:6,614.07 USD
Total Cost:2.58%
Difference:
141 USD less than using WorldFirst
Time:
Rate Fetched: website - Thu Sep 19 2019 07:03:06 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
 

BankSA logo

BankSA: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:20.01
Exchange Rate:0.6551 (3.51% from mid-rate)
To Amount:6,537.89 USD
Total Cost:3.7%
Difference:
217 USD less than using WorldFirst
Time:
Rate Fetched: website - 8:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Bank of Melbourne logo

Bank of Melbourne: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:21
Exchange Rate:0.6551 (3.51% from mid-rate)
To Amount:6,537.24 USD
Total Cost:3.71%
Difference:
218 USD less than using WorldFirst
Time:
Rate Fetched: website - 8:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Bank of Queensland logo

Bank of Queensland: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:30
Exchange Rate:0.6551 (3.51% from mid-rate)
To Amount:6,531.35 USD
Total Cost:3.8%
Difference:
224 USD less than using WorldFirst
Time:
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:15
Exchange Rate:0.6630 (2.34% from mid-rate)
To Amount:6,524 USD
Total Cost:3.9%
Difference:
231 USD less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

National Australia Bank (nab) logo

National Australia Bank (nab): Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:22
Exchange Rate:0.6492 (4.37% from mid-rate)
To Amount:6,477.72 USD
Total Cost:4.59%
Difference:
277 USD less than using WorldFirst
Time:
Rate Fetched: website - Thu Sep 19 2019 07:05:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 

Commonwealth Bank (CBA) logo

Commonwealth Bank (CBA): Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:6
Exchange Rate:0.6397 (5.77% from mid-rate)
To Amount:6,393.16 USD
Total Cost:5.83%
Difference:
362 USD less than using WorldFirst
Time:
Rate Fetched: website - Thu Sep 19 2019 07:02:01 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
 

St George Bank logo

St George Bank: Foreign Transfer AUD→USD
From Amount:10,000 AUD
Fee:20
Exchange Rate:0.6391 (5.86% from mid-rate)
To Amount:6,378.22 USD
Total Cost:6.05%
Difference:
377 USD less than using WorldFirst
Time:
Rate Fetched: website - 8:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 09/19/2019 - See full table
Live example of one of our comparison tables

Who we Help

Currency Exchange Customers :

Our price comparison algorithms and calculator can save you time and money since it helps you find which vendor is offering the best rate for cash exchange and money transfers right now.

We have organised special deals with some of the vendors such as fee-free transfers etc. We also provide handy tips on how to get the best exchange rates whether for travel or business.

You can register to set up your profile, favourite currencies and receive information on special offers from our vendors.

 

Currency Exchange Providers :

BER provides a transparent retail currency market place for FX currency converters via the following services:

  • Vendor Accounts lets you submit your rate margins and fees by currency pair and amount
  • Web page rate spider – automatic rate import from your website
  • Advertising – we provide a source of well qualified traffic for your Forex related site

For more information on any of the above please click here – Vendor Info page.

 

Our partners are only trusted regulated Foreign Exchange brands

OFX 2019 Review – Foreign transfers with OFX compared
View
XE Money Transfer – BER Review
View
TransferWise Money Transfers – Review
View
WorldFirst Foreign Transfers – BER Review
View

 

Want more info about the Best Exchange Rates Service and Platform?

See the full list of BER information and practicle articles and read about our authors.


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