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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
OFX (OzForex) logo
6,980 USD
Best Overall
0.6980^0.8%
ANZ Bank logo
6,819.7 USD
160 USD
0.6832183.07%
BankSA International Money Transfers
BankSA logo
6,776.41 USD
204 USD
0.67920.013.69%
Bank of Melbourne International Money Transfers
Bank of Melbourne logo
6,775.74 USD
204 USD
0.679213.7%
Bank of Queensland logo
6,769.63 USD
210 USD
0.679303.79%
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
6,738 USD
242 USD
0.6751154.24%
National Australia Bank (nab) logo
6,733.15 USD
247 USD
0.6748224.3%
Westpac logo
6,722.53 USD
257 USD
0.6736204.46%
Commonwealth Bank (CBA) logo
6,660 USD
320 USD
0.66646 5.34%
St George Bank logo
6,643.69 USD
336 USD
0.6657205.58%
OFX (OzForex): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:0.6980 (0.8% from mid-rate)
USD amount:6,980 USD
Total Cost:0.8%
Time:
Rate Fetched: 20:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
ANZ Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:18
Exchange Rate:0.6832 (2.9% from mid-rate)
USD amount:6,819.7 USD
Total Cost:3.07%
Difference:
160 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Mon Jul 22 2019 18:03:04 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
BankSA: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:0.6790 (3.5% from mid-rate)
USD amount:6,776.41 USD
Total Cost:3.69%
Difference:
204 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 20:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Melbourne: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:21
Exchange Rate:0.6790 (3.5% from mid-rate)
USD amount:6,775.74 USD
Total Cost:3.7%
Difference:
204 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 20:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Bank of Queensland: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:30
Exchange Rate:0.6790 (3.5% from mid-rate)
USD amount:6,769.63 USD
Total Cost:3.79%
Difference:
210 USD less than using OFX (OzForex)
Time:
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 3/5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:0.6877 (2.26% from mid-rate)
USD amount:6,738 USD
Total Cost:4.24%
Difference:
242 USD less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
National Australia Bank (nab): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:0.6748 (4.09% from mid-rate)
USD amount:6,733.15 USD
Total Cost:4.3%
Difference:
247 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Mon Jul 22 2019 18:05:02 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
Westpac: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6736 (4.26% from mid-rate)
USD amount:6,722.53 USD
Total Cost:4.46%
Difference:
257 USD less than using OFX (OzForex)
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:
Commonwealth Bank (CBA): Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:6
Exchange Rate:0.6664 (5.29% from mid-rate)
USD amount:6,660 USD
Total Cost:5.34%
Difference:
320 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - Mon Jul 22 2019 18:02:01 GMT+0000 (UTC)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1.2/5.0
Reviews:
St George Bank: Foreign Transfer AUD→USD
AUD amount:$10,000 AUD
Fee:20
Exchange Rate:0.6657 (5.39% from mid-rate)
USD amount:6,643.69 USD
Total Cost:5.58%
Difference:
336 USD less than using OFX (OzForex)
Time:
Rate Fetched: website - 20:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 07/22/2019 - 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
WorldFirst Foreign Transfers – BER Review
View
TransferWise Money Transfers – 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.

Get a Better FX Deal when you Send and Spend Abroad.

 


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