Like many of the new online international money transfer providers in Australia, HiFx started out in the UK. It was founded in 1998 and is part of Euronet Worldwide, the third largest money transfer company in the world, having transferred over $200 billion. Here in Australia, HIFX is authorised by the Australian Securities and Investments Commission and the FMA. By minimising unnecessary banking overheads and investing in technology, HiFx offers companies and individuals looking to transfer money overseas better exchange rates than the banks. HiFx also hangs its hat on providing exceptional customer service to its customers. Why not test them out for your next international money transfer?
Rates and fees verified as correct at 24 January, 2019. Other information correct at the time of writing.
No matter where you want to send money in the world, HiFx can in all likelihood help. It trades in 60 world currencies, which gives you the massive ability to be able to transfer money to over 170 countries. See what today’s exchange rates are for some of the most popular currencies with Mozo’s table below.
|Currency||At today's HiFX Rate, 1 AUD buys*||For 10,000 AUD recipient will get|
|United States Dollars (USD) USD||USD 0.7114||USD 7,114|
|Euros (EUR) EUR||EUR 0.6248||EUR 6,248|
|Great Britain Pounds (GBP) GBP||GBP 0.5438||GBP 5,438|
|Canadian Dollars (CAD) CAD||CAD 0.9492||CAD 9,492|
|Chinese Yuan (CNY) CNY||CNY 4.8518||CNY 48,518|
|Danish Krone (DKK) DKK||DKK 4.6656||DKK 46,656|
|Hong Kong Dollars (HKD) HKD||HKD 5.5811||HKD 55,811|
|Indian Rupee (INR) INR||INR 50.861||INR 508,610|
|Indonesian Rupiah (IDR) IDR||IDR 10134.3909||IDR 101,343,909|
|Japanese Yen (JPY) JPY||JPY 77.8973||JPY 778,973|
|Malaysian Ringgit (MYR) MYR||MYR 2.9561||MYR 29,561|
|New Zealand Dollars (NZD) NZD||NZD 1.0474||NZD 10,474|
|Norwegian Krone (NOK) NOK||NOK 6.0927||NOK 60,927|
|Philippine Peso (PHP) PHP||PHP 37.4875||PHP 374,875|
|Saudi Riyal (SAR) SAR||SAR 2.6799||SAR 26,799|
|Singapore Dollars (SGD) SGD||SGD 0.9663||SGD 9,663|
|South African Rand (ZAR) ZAR||ZAR 9.833||ZAR 98,330|
|Swedish Krona (SEK) SEK||SEK 6.4138||SEK 64,138|
|Swiss Francs (CHF) CHF||CHF 0.7076||CHF 7,076|
|Thai Baht (THB) THB||THB 22.5459||THB 225,459|
|UAE Dirham (AED) AED||AED 2.6245||AED 26,245|
It’s totally free to set up an account with HiFx and you are under no obligation to make any trade once your account is established. You can sit back and wait for when the time is right to transfer money to your overseas destination or jump right onto the online platform and transfer money immediately.
The essentials you need to keep in mind are:
The lowest amount you can transfer using HiFx is $50 for a single transaction and if you are making regular payments the minimum transfer amount is $500 a month.
If you want to do your trade online the maximum you’ll be able to transfer in one hit is $1,000,000. You can transfer higher amounts via phone with one of HiFx’s dealers.
Transfers over $10,000 are free or there is a flat rate of $15 per trade (though your first one will be free). You may also be charged a fee by the bank at the recipient's end.
It all depends on how much you’re transferring and to where but most HiFx transfers take between 1-3 days.
Whether you need to make a small money transfer or a large one, HiFx can help get your money overseas fast and securely.
Some reasons why you may need to transfer money include:
|Online transfers Online transfers|
HiFx Online is the online platform customers use when they need to send money quickly and easily. It gives you access to live rates so that you can lock in your trade when the time is right for you. The transfer process is easy - select the amount you want transferred, currency and recipient. Rate is locked in and you transfer the AU amount to HiFx, then they send the money to your recipient's account. HiFx Online gives you the ability to transact, manage your account and track your payments quickly and easily 24 hours a day, 7 days a week, and it uses Norton Security so you’re fully protected online.
|Larger transfersLarger transfers|
When you’re making a larger transfer, say in the instance you’re buying property or repatriating funds, the timing of your transfer is extremely important, as even a small percentage point difference in exchange rate can make a very big difference to your bottom line. For larger transfers, HiFx will provide you with a dedicated dealer who will get to know your requirements and advise you on the best transfer options available.Some of the additional services you can take advantage of include forward contracts, where you can lock in a rate up to 12 months in advance, and market contracts.
The process for setting up an account will be slightly different if you are signing up for a personal account or a business account. Both options are free to set up and take around 5 minutes. You’ll need to provide proof of identity or your address to get an account set up and in most instances this can be done electronically.
You won’t believe how simple it is to make an international money transfer:
Some other important must knows: