The best, cheapest and easiest way to transfer money overseas from Australia

Transferring money overseas can be a complicated and costly exercise. Do you want to find out the best way to transfer money overseas from Australia?

Using a bank may be one of the easiest ways of sending money overseas but it is also the most costly. A bank will charge you costly fees eating into the money that you are transferring. But there are other better ways.

Using a bank transfer you can send money from your Australian bank account to another overseas bank account. There are also companies that can do the same thing but with much lower or even no fees.

Best way to transfer money overseas from Australia | Cheapest & easiest way to send cash

Best way to transfer money overseas from Australia

People that are going to overseas or who need to transfer money to other countries and into other currencies always want to find the best way to transfer their money. There is a range of options where you can transfer money and exchange currency. You need to make sure that you know which one is the best for you, personally.

These are some of the top money transfer and currency exchange sites, and a comparison so that you can know which one is best for you.

World first

One of the benefits of using World first is that you can choose between 121 currencies for transferring money overseas or for exchanging currencies. They are the company that offers the most amount of currencies to choose from. They were established in 2004 and are known as one of the best funds transfer companies on the market.

World First do not charge fees for any transaction. However, the minimum amount of funds that you can transfer is AU $2,000. There is no maximum amount. The larger the amount you transfer, the more money you are going to save.

World First are winners of Canstar’s 5-star award for Outstanding Value in International Money Transfers for the last two years running. Furthermore, their exchange rates are very competitive and you can contact their customer service via email or phone where you’ll always speak to a real person.

Clients can access World First’s safe, secure, and easy-to-use online platform to make online money transfers at any time of the day and night with access to the fastest available international payments.

The signup process of World first is easy and the transfer is done very fast. Many people reported that the transfers were done overnight. They have good customer service, and they assist everyone that has questions or issues with their transfers. Please click here to contact WorldFirst.


HiFX was founded in 1998 and was originally a banking alternative for white-collar individuals, but was bought in 2014 by American Euronet. This is a company for transferring money currencies.

Features that you can expect from HiFX are that they now have a currency converter app that you can use on your mobile phone to make transfers. This makes money transfers a lot easier. Their fees aren’t very high and their minimum transfer amount is just £50. Meaning that you don’t need to exchange or transfer a large amount of money at a time.

HiFX is able to exchange or transfer money in 60 different currencies and their platform is easy to understand and to use. HiFX offers a great customer service line for any inquiries.


TorFX was established in 2004 and offer 45 different currencies where you can do exchanges or transfers to. Their minimum amount that you can transfer is US$200 at a time. There isn’t a maximum amount that can be transferred.

They offer safe and secure transfers and exchanges. Meaning that you don’t have any risk when transferring large amounts of money. All their transfers are fee free. TorFX is one of a few sites that are offering a fee free transfer service. This is where there aren’t any fees involved for doing transfers or exchanges. Transfers get done quickly, so no delays are expected when you use


OFX was established in 2005 and they are another company that doesn’t ask any fees for transferring or exchanging currencies. They have 55 different currencies that you can choose. The minimum amount that you can transfer is US$100. Making it easier for transferring smaller amounts at a time.

They have won a couple of rewards over the last few years, making them a great and trustworthy company to use for transferring money in and out of Australia. Getting assistance is easier because they have local staff that will be able to assist you immediately with any problems that you might have.


Even though Transferwise was established in 2011, it already has won a couple of awards in 2013, 2014 and 2015. Making this a great choice, if you are looking for a place where you can transfer or exchange money.

They offer 38 different currencies and their minimum transfer amount is just US$1. Making this one of the best transfer companies for small amounts of money. You aren’t going to pay any transferring fees and they offer great customer service. The transfers are getting done in no time, and your information will stay secure and private.

Compass global market

Compass global market is another currency transfer and exchange company. They offer about 50 different currencies and they require a US$10 fee. They were established in 1998, making them one of the oldest transfer companies on the market.

The minimum amount that you can transfer is US$1 000 and they don’t have a maximum amount that you can’t exceed. With their customer service and fast transfer time, this can be a good choice for transferring money to and from Australia.

FC Exchange

FC Exchange was established in 2005 and have won an award in 2016. You can choose between 50 different currencies and the minimum amount that you can transfer or exchange is £1 000. If you are transferring £10 000 or more, you aren’t going to pay any fees. For amounts less than £10 000, you will pay a fee of £10.

They are known for a company that has friendly customer service and that assist you quickly. Their transfer times are fast and reliable.

Comparison of money transfer companies

In order to know which company or site you should use for transferring or exchanging currencies in Australia, you might want to see all these mentioned companies compared, side by side. With this table, you will be able to see which one is going to be best for you:


Comparison table of money transfer companies.

Sites/companies Year established Currencies offered Transfer options Minimum amount Fees
Compass markets 1998 50 Online/phone AU$1,000 AU $10
FC exchange 2005 50 Online/phone £1,000 £10
HIFX 1998 60 Online/phone AU $50 AU $15 per transfer
OFX 2005 55 Online/phone/email AU $250 No fees
Torfx 2004 45 Online/phone AU $200 No fees
Transferwise 2011 38 Online/mobile/chat/email AU $1 No fees
Worldfirst 2004 121 Online/phone/email AU $2,000 No fees

Currencies and countries that each company can do.

Compassmarkets FCExchange HiFX Ofx Torfx Transferwise Worldfirst
United States Dollar

Great British Pounds

New Zealand Dollars


Japanese Yen

Swiss Francs

Canadian Dollars

Chinese Yuan

Hong Kong Dollars Singapore Dollars

Thai Baht

Danish Kroner

Norwegian Kroner

Swedish Kroner

South African Rand

AE Dirham

Australian Dollar

Bahamian Dollar

Bahraini Dinar

Botswana Pula

British Pound Sterling

Bulgarian Lev

Canadian Dollar

Cayman Island Dollar

Chinese Yuan Renminbi

Croatian Kune

Czech Koruny

Danish Krone

East Caribbean Dollar


Ghanaian Cedi

Hong Kong Dollar

Hungarian Forint

Israeli Shekel

Indian Rupee

Jamaican Dollar

Jordanian Dinar

Japanese Yen

Kenyan Shilling

Kuwaiti Dinar

Sri Lankan Rupee

Mauritian Rupee

Mexican Peso

Nigerian Naira

New Zealand Dollar

Norwegian Krone

Ormani Rial

Russian Ruble

Saudi Riyal

Singapore Dollar

South African Rand

Swedish Krona

Swiss Franc

Thai Baht

Turkish Lira

Ugandan Shilling

US Dollar

Australian Dollar,

Canadian Dollar,

United States Dollar,


Great British Pound,

Hong Kong Dollar,

Papua, New Guinean, Kina

Singapore Dollar,

Danish, Krone,

Japanese Yen,

Thai Baht,

Vanuatu Vatu,

Indian Rupee,

New Zealand Dollar,

Philippine Peso,

Solomon Islands Dollar,

Swedish Krona,

United Arab Emirates Dirham,

Central Pacific Franc,

Fiji Dollar,

Mexican Peso,

Norwegian Krone,

Samoan Tālā,

South African Rand,

Swiss Franc,




Democratic Republic of Congo

Republic of Congo

Cote d’Ivoire




North Korea





Sierra Leone





British Pounds,

US Dollar,


Australian Dollar,

Canadian Dollar,

Czech Koruna,

Danish Krone,

Hong Kong Dollar,

Hungarian Forint,

Indian Rupee,

Japanese Yen,

New Zealand Dollar,

Norwegian Krone,

Singapore Dollar,

South African Rand,

Swedish Kroner,

Swiss Franc,

Thai Baht,

Turkish Lira,

UAE Dirham,

Australian Dollars,

British Pounds,

Brazilian Real,

Bulgarian Lev,

Canadian Dollar

Chilean Peso,

Chinese Yuan,

Colombian Peso,

Croatian Kuna,

Czech Koruna,

Danish Krone,

Emirati Dirham,

Georgian Lari,

Hungarian Forint,

Hong Kong Dollar,

Indian Rupee,

Indonesian Rupiah ,

Japanese Yen,

Malaysian Ringgit,

Moroccan Dirham,

New Zealand Dollar,

Norwegian Krone,

Pakistani Rupee,

Philippine Peso

Russian Rouble

Romanian Leu,

Sri Lankan Rupee,

South African Rand,

Swedish Krona,

Swiss Franc,

Thai Baht,

Turkish Lira,

Ukrainian Hryvna,

Bangladeshi Taka,

Vietnamese Dong,

United Arab Emirates dirham,

Australian dollar,

Bulgarian lev,

Canadian dollar,

Swiss franc,

Czech koruna,

Danish krone,


British pound,

Hong Kong dollar,

Hungarian forint,

Israeli shekel,

Japanese yen,

Norwegian krone,

New Zealand dollar,

Polish zloty,

Romanian leu,

Saudi riyal,

Swedish krona,

Thai baht,

Turkish lira,

US dollar,

South Africa rand,


There are many people that are going to or from Australia that needs to transfer money or that needs to exchange currencies. However, because there are different places where you can do this exchange, it can be hard to choose which is the best for you. After reading this review, you now know the top money transfer and exchange companies that operate in Australia where you can exchange currencies.



A LOW or NO FEE alternative to a bank transfer is a non-bank money transfer. Check the conversion rates here.

Want more information? Check out this article about money transfer companies.

Want the cheapest way to transfer your money overseas or the cheapest way to do it online?