We save you time and money by researching International Money Transfers providers comparing their overall service, rates and fees to using your bank.
There are many factors to consider when selecting a provider to send money abroad:
Exchange rate: Compare rates from different providers for the best deal on the conversion from your currency to your recipient’s domestic currency.
Fees: Look for a low-fee provider, either charging a flat fee or a percentage of the transfer amount.
Speed: Consider the delivery time, with some providers offering faster delivery for an extra fee.
Customer service: Find a provider with good customer service in case of any questions or transfer issues.
Payment options: Choose a provider with payment options that work for you, such as credit/debit card or bank transfer.
Security: Choose a reputable and secure provider to ensure safe money transfer.
Convenience: Evaluate the provider’s services for ease of use, such as online platform or physical location availability.
The below exchange rate comparison table helps you consider many of these factors with just a few clicks:
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Top International Money Transfer Providers
When choosing a provider to send money abroad finding the best currency rate is generally everyone’s number one factor. Other important criteria to also consider are transfer speed, delivery options (bank transfer or cash pickup), customer service, mobile apps and extra fees.
OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.
OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.
OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.
When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.
*Minimum transfer AU$250. Please note that the receiving bank or intermediary bank may charge fees on transactions. There are zero OFX fees on transactions. OzForex Limited (trading as OFX) regulated by ASIC (AFS Licence number 226 484) | ABN 65 092 375 703 | Member of the Australian Financial Complaints Authority (AFCA).
XE money transfers at a glance
XE Money Transfer is a reputable and well-established international money transfer provider with a long history of providing reliable and secure services to its customers. Here are some key factors that contribute to XE Money Transfer's overall quality:
Competitive exchange rates: XE offers competitive exchange rates for its international money transfers, which can help you save money when sending funds overseas.
No fees: XE does not charge any extra fixed fees for its international money transfer services, which means you can send money without having to worry about additional charges.
Security: XE uses advanced encryption and security measures to protect its customers' personal and financial information, ensuring that your transactions are safe and secure.
Fast transfers: XE offers fast international money transfers, transfers can be booked online or over the phone and most are processed within a single working day.
Customer service: XE has a dedicated customer service team that is available to answer any questions or concerns you may have about your money transfer.
WorldRemit is a popular online money transfer service that allows users to send money to over 130 countries worldwide. The platform is known for its easy-to-use interface and low fees, making it a great option for people looking to send money to friends and family overseas.
One of the standout features of WorldRemit is its flexibility when it comes to payment and delivery options. Users can choose to send money via bank transfer, mobile money, or cash pickup, and recipients can receive funds through a bank account, mobile wallet, or cash pick-up location. This makes it easy for users to find a payment and delivery method that works best for them and their recipients.
In addition, WorldRemit offers competitive exchange rates and low fees, which can help users save money on international transfers. The platform also provides real-time updates on the status of transfers, so users can easily track their funds and ensure they arrive at their intended destination.
Overall, WorldRemit is a reliable and user-friendly platform for sending money internationally. Its wide range of payment and delivery options, competitive rates, and real-time updates make it a top choice for many users.
Wise (formerly TransferWise) always aim to convert money at the real mid-market exchange rate. There’s just a small, fair service fee, and it’s all shown up-front, this fee normally works out to be less than 1% of the amount being exchanged.
Exchange guaranteed within 2 business days - Pay via Bank Transfer or VISA/Mastercard debit cards.
Setup Direct Debits to Pay Bills abroad from AUD, CAD, EUR, GBP and USD accounts.
Multi-currency Accounts: Regardless of which country you live in, with a Wise Borderless Account you receive a unique set of GBP, EUR, USD, AUD, NZD, SGD, RON, CAD, HUF and TRY account details with which you can get paid like a local. Together with an account number, you’ll receive a SWIFT, BSB, routing and/or sort code and anything else needed to receive funds in those currencies.
Sending money abroad isn’t cheap, but it can be done more cheaply than you think. Money transfer companies and banks make tons of money by charging fees and a margin on the exchange rate, which is normally hidden.
We at BER can help you send and receive money with guaranteed low fees by comparing the latest exchange rates to help you find the best deal out there! Here’s how we are able to achieve that.
While exchanging money and conducting international money transfers, keeping the mid-market rate in mind is the key. The mid-market rate, or also referred to as the interbank rate, is the ‘real’ or ‘true’ exchange rate. This is the currency rate that banks and other outlets use to globally trade different currencies on the market. The mid-market rate is impacted by economic factors, including government debts, trade agreements, speculation, economic performance, political uncertainty, inflation, and interest rates.
When you know the mid-market rate, it can be compared against the rates that currency exchange outlets and banks have. We make this easy for you by comparing the exchange rates and fees that different financial institutions have. Before receiving money or sending money overseas, it’s vital to check for any additional fees that may still be included. Some outlets like to sneak in extra fees, which change the total cost considerably!
We highly recommend using non-bank exchange services. Exchange services such as WorldRemit tend to offer quite competitive rates that give you a better value. While sending money overseas, these companies both provide customer support around the clock and charge lower transfer fees than banks do. For similar reasons, we also recommend not exchanging any money at airports. While these booths are quite convenient for exchanging currency, they never offer fair rates. As a rule, they charge a high price for convenience and should only be used as a last resort.
Looking for the best international wire transfer options for your country? BER can help!
Where do you want to Save Sending Money?
Making an international wire transfer has never been easier! Whether you’re travelling or living abroad, you may find that you need to send money overseas or receive it.
However, make sure that you take advantage of the best money transfer options for your country! Most of us shop around when it comes to selecting home loans or personal loans that offer the best conditions – so it only makes sense to do a bit of homework when it comes to money transfers – especially if you intend to transfer money regularly. The great news is – when it comes to evaluating your money transfer options, BER’s got your back!
There are many ways to conduct international wire transfers. As well as the traditional option of using a bank, you can also use PayPal, MoneyGram, Western Union, and Wise (formerly Transferwise). Wire transfers through banks can take a lot more effort and cost more than other companies, so it’s always best to shop around before choosing one. That’s why BER offers dedicated, detailed international wire transfer guides on how to save money for transfers to such countries as the United States, Eurozone, United Kingdom, India, and Australia. We also provide tons of general information on all transfers, and are always happy to answer any additional currency exchange questions you might have.
Many companies and exchange services like to make some extra cash by skewing the exchange rates. We compare these exchange rates for you, making it easy to see which money transfer provider is offering the best one.
To avoid hidden fees, you can also consider getting quotes from the services you are considering. Quotes help you sort through many money transfers companies and find the best deal available. Using more advanced transfer tools, such as forward contracts, recurring payments, and limit orders, may also attract varying charges that should be checked beforehand.
We recommend first finding out how long transferring money internationally will take with the money transfer providers you have chosen. Checking the time can be done easily, as an estimate of the time is usually provided after completing the transfer form.
Money transfers will usually take one to three business days depending on the service provider you have chosen. This will be substantially slower if it is a bank, as bank transfers are impacted by quite a few factors. For example, if the receiver’s account is set in a very different time zone, then the transfer will take longer. Also, the days the destination bank works on can influence the speed of the transfer.
Need to keep your personal finance, international wire transfers, and credit card spending in check? Look no further!
Similarly, checking out payment options and cash pickup options before transferring funds can also help you be prepared and ensure that processing times work for you. To check the reliability of the provider you have chosen, you can check out their rating on Trustpilot, which gives an overview of many different companies. Checking the reliability of your chosen provider is important, as it ensures a safe transfer experience to your destination countries.
Anything else you need to know about wire / international transfers or travel money solutions? Ask us at BER!
We make it easy to save money by making these fees and exchange rates easier to see and compare rates from trusted, regulated money transfer specialists to use when you need to send money abroad. With the below foreign transfer comparison table, you can quickly find the best way to send money internationally.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.