Best international money transfer providers in Australia for June 2025
Whether you are looking to send money overseas for business or personal reasons, getting the best deal on your exchange is essential if you want to get the most value for money.
There are a wide range of options available to Australians when it comes to sending money internationally; from banks through to specialist international money transfer providers.
Our aim is to make your search easier, offering helpful information on the ways to send money overseas, including our editor's picks and providers that picked up Mozo Awards this year.
For a deeper dive into international money transfers, including a full FAQ, keep scrolling.
Mozo Editor’s Pick: Standout providers in 2025
Whether you're sending money overseas to support family, pay international invoices, or manage a global side hustle, the right provider can make all the difference. Competitive exchange rates, low fees and fast transfers are key – but transparency and reliability matter too.
The Mozo editorial team has spotlighted a few standout international money transfer services that are hitting the mark. These picks offer strong value, a smooth user experience and trustworthy service for both personal and business transfers.
TorFX
TorFX offers transfers of over 40 different currencies to more than 120 countries. It has no fees on your international payments, but keep in mind that the minimum you can transfer is $200. According to TorFX, transfers can take between 24-48 hours. It has features like forward contracts (up to 2 years in advance) and automated regular transfers to pay overseas staff.
Send Payments
- $250 transfer minimum
- No transfer fees
- Business or personal transfers to more than 180 countries
Send Payments offers transfers to 180 countries in 34 different currencies with just a $250 transfer minimum up to $50,000 daily maximum. According to Send Payments, transfers typically land at their destination account within 24-48 hours of Send receiving them from you but sometimes it can happen within a few hours! Send Payments does not charge a fee to transfer money and it is regulated in Australia by both ASIC and AUSTRAC and holds an Australian Financial Services Licence (AFSL).
Mozo Experts Choice Awards winners 2025
Each year, Mozo money experts compare quotes from international money transfer providers and banks across a handful of different currencies and weigh them up against fees and costs. They then crown the top providers as the winners of the Mozo Experts Choice Awards 2025^.
Coming out on top for best value services this year were specialist providers Currency Fair, XE, Remitly and Wise. HSBC was again crowned the best International Money Transfer (Bank).
“Out of the 28 international money transfer providers our research team compared, the winners stood out with great exchange rates and minimal fees,” Mozo finance expert Peter Marshall said.
XE
- Send money to over 200+ countries and 100+ currencies globally
- No min or max transfer amount limits
- Dedicated Australian based client services team with personal account management for transfers over $20K
You can send money to over 200 counties with XE and if speed is of the essence, XE says most transfers can be completed the same day, some within minutes. You can set up an account within minutes and securely send to bank accounts worldwide. XE has no min or max transfer amounts and you get account and transaction protection using 2 factor authentication. XE has over 30 years of currency expertise and is regulated by authorities worldwide including ASIC in Australia.
CurrencyFair
- Securely send money to over 150 countries
- Flat fee of $4 when sending or receiving funds
- Enjoy five fee-free transfers (T&Cs apply)
CurrencyFair boasts competitive exchange rates, fast transfers and a low flat fee of $4 for international money transfers. CurrencyFair says it can provide access to same-day transfers on major currencies as it has local bank accounts in multiple countries across the world which means that most transfers on its platform are treated as domestic transfers and this can save you time and money.
Best bank for international money transfers: HSBC
If a traditional bank is your preferred method for overseas money transfers, HSBC was named the best bank in the Mozo Experts Choice Awards 2025^.
“As an international bank, with branches not only in Australia but throughout Asia, Europe and the US, HSBC can offer better prices on their international money transfer service than other local banks due to this global branch network,” Marshall said.
Mozo People’s Choice Awards winners 2025
In addition to Mozo's Experts Choice Awards, Mozo sends out an annual survey asking everyday Australians to rate providers on a range of factors, from customer service through to value.
The highest rated responses were crowned winners of the Mozo People’s Choice Awards 2025^. Aussies rated international money transfer providers and Wise won awards in all six categories.
Below are the most recent winners of each category for International Money Transfers.
- Revolut: Outstanding Customer Satisfaction, Value for Money, Transfer Experience, Transfer Speed and Most Recommended.
- Wise: Outstanding Customer Satisfaction, Value for Money, Transfer Experience, Transfer Speed, Excellent Customer Service and Most Recommended.
- Commonwealth Bank: Transfer Experience, Excellent Customer Service.
- Westpac: Excellent Customer Service.
^ It’s important to note, whether you opt for a specialist service or a bank, all providers compared for these awards have an Australian Financial Services Licence issued by ASIC.
Want to know more about the Mozo Experts Choice Awards winners? Jump over to our Mozo Experts Choice International Money Transfer Awards page for the full methodology report and list of winners. If you want to learn more, check out our money transfer resources.
Personal international money transfer comparisons on Mozo
I want to transfer
Today’s foreign exchange rates
- Excellent exchange rates, no transfer fees
- 24/7 transfers online, over the phone or through the TorFX app
- Personal account management and expert insights
$6,462 USD
IN PERSONn/a
BY PHONE$0
ONLINE$0$0.6462 USD
1-2 days
$200 minimum
- Send to 200+ countries and 100+ currencies globally, 48,000+ 5-star 'Excellent' ratings on TrustPilot
- Dedicated Australia-based client services team with personal account management for transfers over $20,000
- Send fees are charged on smaller amount transfers, additional fees are charged on debit and credit card payment methods.
$6,446 USD
- IN PERSONn/a
BY PHONEn/aONLINE$5 $0.6449 USD
1-3 days
none
- Fee Free transfers
- Talk to a human, 24/7. Sharp Rates and Fast and Secure transfers.
- Australian owned, ASX listed and Official Foreign Exchange Provider of the NHL
$6,449 USD
- IN PERSONn/aBY PHONE$0ONLINE$0
$0.6449 USD
1-2 days
$250 minimum
$500 monthly minimum for regular transfers
INTERNATIONAL MONEY TRANSFERS INFORMATION
How to send money overseas from Australia
Sending money overseas can be simple and cost-effective with the right provider. Here’s how:
- Choose a provider – Banks, apps or online international money transfer services.
- Set up an account – Register and verify your ID.
- Add recipient details – Include name, bank details and country.
- Lock in a rate – Review fees and confirm your transfer.
- Send your money – Track delivery online or via app.
Banks vs online money transfer providers
Should you stick with your bank or use a specialist service? Here’s, broadly, how they compare:
|
Feature |
Banks |
International Money Transfer specialists |
|
Exchange rates |
Often include markups |
Mid-market or near it |
|
Transfer fees |
Typically $10–30 |
Often $0 |
|
Delivery time |
2–5 days |
Same day or next day |
|
Best for |
Simplicity |
Cost, speed and value |
How much does it cost to send money overseas?
The total cost of an international money transfer depends on a few key factors, including the provider you use, the destination country, the amount being sent and the currency involved.
Typically, costs fall into two main categories:
- Transfer fees: These can be flat-rate charges or a percentage of the amount sent. Some providers offer fee-free transfers depending on the method or minimum transfer amount.
- Exchange rate margin: The difference between the real (mid-market) exchange rate and the rate you’re offered. Even a small markup can reduce the amount your recipient receives.
It’s essential to review the total cost, not just the transfer fee or exchange rate in isolation. A low-fee provider may offer a poor exchange rate, and vice versa. Comparing the effective amount received at the other end is the most accurate way to assess value.
What to watch out for when sending money overseas
Keep these key factors in mind:
- Hidden fees: Check if costs are bundled into the exchange rate.
- Speed: Some providers take longer than others.
- Destination charges: Some banks overseas may deduct fees.
- Transfer limits: Minimum or maximum amounts may apply.
International Money Transfer FAQs
What is an international money transfer?
An international money transfer allows you to send money from your Australian account to a person or business overseas. Funds are converted into the recipient's local currency and delivered to their nominated account.
How do international money transfers work?
You provide the recipient’s details and the amount to transfer. The provider converts the currency and processes the payment, either online or through a bank. Timing and costs depend on the method you choose.
Do I need any documents to send money overseas?
In most cases, all you need is a valid government-issued ID to complete an international transfer. However, for transactions of $10,000 or more, providers are required to report the transfer to AUSTRAC – Australia's financial intelligence agency – as part of anti-money laundering regulations.
How much does an international money transfer cost?
Costs vary based on the provider, destination and amount. You might be charged a transfer fee, a margin on the exchange rate, or a receiving fee from the recipient’s bank.
What’s the fastest way to transfer money overseas?
The fastest transfer methods are typically digital or app-based services that support instant or same-day delivery. The exact speed depends on factors like the destination country, currency, time of day, and payment method used.
Why trust Mozo’s international money transfer comparisons?
At Mozo, we’ve spent over 15 years helping Australians make smarter financial decisions. From comparing high-interest savings accounts to analysing exchange rates across dozens of money transfer providers, we cut through the complexity so you can focus on value.
Our editorial team and analysts look beyond the headline rates to assess the real cost of transferring money overseas – factoring in hidden fees, service quality, frequency, transfer speeds and more. We’re committed to providing transparent, independent insights that make your money go further.
How do exchange rates affect my transfer?
The exchange rate determines how much foreign currency your Australian dollars will buy. Even small rate differences can significantly impact the final amount received, especially for large transfers.
How long does an international money transfer take?
Transfer speeds vary. Some transfers arrive within minutes or hours, while others can take several business days depending on the provider, country and payment method.
Are there limits on how much I can send overseas?
Yes. Many providers have minimum and maximum transfer limits, which can vary by currency or transfer method. Larger transfers may also require additional identity verification or documentation.
Are international money transfers safe?
Yes. Reputable providers and financial institutions in Australia are regulated and use secure encryption to protect your funds. Always check that a provider is registered and licensed.
Do I need to verify my identity?
Yes. Australian laws require providers to verify your identity before processing international transfers. This typically involves submitting ID and personal details.
Are international money transfers taxable?
In most cases, sending money overseas is not a taxable event. However, transfers related to income, business payments or large gifts may have tax implications. It’s best to seek independent advice if you’re unsure.
Can I send money to a specific country?
Yes. Most services support a wide range of international destinations. Be sure to check whether your chosen provider offers transfers to the country you’re sending money to.
What’s the best time to transfer money overseas?
Exchange rates fluctuate, so transferring when the rate is more favourable can help you save. Some services allow you to monitor or lock in exchange rates to plan your transfer accordingly.
* 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. These exchange rates are updated every hour.
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