At Mozo, we’re passionate about getting Australians a better deal on their finances and the Experts Choice Awards provide us with a platform to highlight international money transfer providers and banks in the marketplace that we believe offer great value to Australian consumers. See below the banks and specialist foreign exchange providers awarded Mozo Experts Choice Awards in 2016.
To find Australia’s best value international money transfer provider we collected exchange rates and fees from 28 providers licensed to operate in Australia. Here’s the providers that offer the most cost-effective service to personal customers. See here for full awards methodology.
To find Australia’s best value international money transfer Read more...
TorFXInternational Money Transfer
TorFXInternational Money Transfer
Today’s exchange rate* | USD: 0.7092 EUR: 0.6259 GBP: 0.5433 |
Transfer speed | 1-2 days |
Fees | $0 |
Minimum Transfer | $200 minimum |
About: TorFX was established in 2004 in the UK and launched in Australia in 2013. It is part of a group that has over 240 staff that operate in 8 countries, servicing over 100,000 customers worldwide and transacting over $6bn annually. It is authorised and regulated by ASIC here in Australia. |
Today’s exchange rate* | USD: 0.7092 EUR: 0.6259 GBP: 0.5433 |
Transfer speed | 1-2 days |
Fees | $0 |
Minimum Transfer | $200 minimum |
About: TorFX was established in 2004 in the UK and launched in Australia in 2013. It is part of a group that has over 240 staff that operate in 8 countries, servicing over 100,000 customers worldwide and transacting over $6bn annually. It is authorised and regulated by ASIC here in Australia. |
World FirstInternational Money Transfer
World FirstInternational Money Transfer
Today’s exchange rate* | USD: 0.7107 EUR: 0.6271 GBP: 0.5443 |
Transfer speed | 1-2 days |
Fees | $0 |
Minimum Transfer | $2,000 minimum |
About: World First has over 111,000 customers globally. It started in the UK in 2004 and has since expanded to Hong Kong, Singapore, Australia and the USA. In Australia it is authorised and regulated by ASIC. World First also annually donates £1000 for every staff member to a charity of their choice. |
Today’s exchange rate* | USD: 0.7107 EUR: 0.6271 GBP: 0.5443 |
Transfer speed | 1-2 days |
Fees | $0 |
Minimum Transfer | $2,000 minimum |
About: World First has over 111,000 customers globally. It started in the UK in 2004 and has since expanded to Hong Kong, Singapore, Australia and the USA. In Australia it is authorised and regulated by ASIC. World First also annually donates £1000 for every staff member to a charity of their choice. |
CurrencyFairInternational Money Transfer
CurrencyFairInternational Money Transfer
Today’s exchange rate* | USD: 0.7103 EUR: 0.6268 GBP: 0.5441 |
Transfer speed | 1-2 days |
Fees | $4 |
Minimum Transfer | none |
About: CurrencyFair is a peer to peer online marketplace where you can trade currencies between other users. It also has a best available now rate option for users to transfer money without a peer match. CurrencyFair has three international offices and is regulated by and registered with ASIC. |
Today’s exchange rate* | USD: 0.7103 EUR: 0.6268 GBP: 0.5441 |
Transfer speed | 1-2 days |
Fees | $4 |
Minimum Transfer | none |
About: CurrencyFair is a peer to peer online marketplace where you can trade currencies between other users. It also has a best available now rate option for users to transfer money without a peer match. CurrencyFair has three international offices and is regulated by and registered with ASIC. |
*Rates shown are for a transfer of AUD$10,000 to the currencies shown. The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction.
Using the results from the analysis performed, we identified the bank which offers personal users the best value international money transfer. For the full listing of the 12 banks considered in the Experts Choice Awards see the IMT methodology report.
Using the results from the analysis performed, we identified Read more...
CitiInternational Money Transfer
CitiInternational Money Transfer
Today’s exchange rate | visit Citibank site |
Transfer speed | 1 - 2 days |
Fees | $0 |
Minimum Transfer | none |
About: Citibank is a global banking powerhouse with over 40,000 branches in 42 countries worldwide. It offers customers with IMT needs several options including multi currency accounts, instant global transfers to Citibank accounts or standard online money transfers to any bank account worldwide. |
Today’s exchange rate | visit Citibank site |
Transfer speed | 1 - 2 days |
Fees | $0 |
Minimum Transfer | none |
About: Citibank is a global banking powerhouse with over 40,000 branches in 42 countries worldwide. It offers customers with IMT needs several options including multi currency accounts, instant global transfers to Citibank accounts or standard online money transfers to any bank account worldwide. |
Using the results from the analysis performed, we identified the Big 4 bank which offers personal users the best value international money transfer.
Using the results from the analysis performed, we identified Read more...
ANZInternational Money Transfer
ANZInternational Money Transfer
Today’s exchange rate* | USD: 0.6832 EUR: 0.6003 GBP: 0.5216 |
Transfer speed | 1-2 days |
Fees | $12 |
Minimum Transfer | $25,000 maximum |
About: ANZ bank provides international money transfer services to over 60 currencies. Its IMT services include real-time exchange rates and rate lock options like Forward Exchange contracts. With ANZ you can transfer money online, in branch or at one of ANZ’s Foreign Exchange Centres. |
Today’s exchange rate* | USD: 0.6832 EUR: 0.6003 GBP: 0.5216 |
Transfer speed | 1-2 days |
Fees | $12 |
Minimum Transfer | $25,000 maximum |
About: ANZ bank provides international money transfer services to over 60 currencies. Its IMT services include real-time exchange rates and rate lock options like Forward Exchange contracts. With ANZ you can transfer money online, in branch or at one of ANZ’s Foreign Exchange Centres. |
*Rates shown are for a transfer of AUD$10,000 to the currencies shown. The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction.
For the Mozo Experts Choice IMT Awards we collected exchange rates and fees from 28 providers licensed to operate in Australia. We considered providers of international money transfers where client rates are readily available either on the Mozo website or on the provider’s website.
There were three award categories for the Experts Choice International Money Transfer Awards: Best Value, Best Value Bank and Best Value Big 4 Bank. Gold medals were awarded to the top 10% of products that meet the selection criteria in each awards category.
Mozo has been researching and comparing financial products since 2008, and hundreds of thousands of Australians use our comparison services each month. Our research team is headed by our Research & Insights Director and our Product Data Manager who have over 50 years of financial services experience and 21 years in online financial comparison.
More information on the methodology and awards criteria can be found here.
Now that you’ve got a shortlist of providers that offer great value international money transfers, your next move is to set up an account and get all the information you’ll need to transfer your money in the cheapest and most hassle free way possible.
There are a number of considerations when choosing which IMT provider to use and what services are available. Here are some of our top tips: