World First is an international money transfer (IMT) provider that started in the UK in 2004 and has since expanded to Hong Kong, Singapore, Australia and the USA. It helps people and businesses move their money around the world in the fastest and most cost effective way. Here in Australia it is authorised and regulated by ASIC offering a competitive alternative to the banks when transferring money overseas. World First offers such good value, that this year it bagged a Mozo Experts Choice Award for Best Value International Money Transfer Provider.
World First has over 111,000 customers globally and takes its commitment to community seriously, donating £1000 for every staff member to a charity of their choice annually.
Rates and fees verified as correct at 21 November, 2017. Other information correct at the time of writing.
With World First you can pretty much transfer money to anywhere in the world from the US to the Solomon Islands. Here on Mozo we compare rates for some of the more popular currencies, and below you’ll be able to use our tool to see today’s exchange rates from World First. Just plug in how much you want to transfer, where you want to transfer it to and our tool will do the rest.
|Currency||At today's World First Rate, 1 AUD buys*||For 10,000 AUD recipient will get|
|United States Dollars (USD) USD||USD 0.7526||USD 7,526||Go to site |
|Euros (EUR) EUR||EUR 0.6413||EUR 6,413||Go to site |
|Great Britain Pounds (GBP) GBP||GBP 0.5685||GBP 5,685||Go to site |
|Canadian Dollars (CAD) CAD||CAD 0.964||CAD 9,640||Go to site |
|Chinese Yuan (CNY) CNY||CNY 5.007||CNY 50,070||Go to site |
|Danish Krone (DKK) DKK||DKK 4.7725||DKK 47,725||Go to site |
|Hong Kong Dollars (HKD) HKD||HKD 5.8792||HKD 58,792||Go to site |
|Indian Rupee (INR) INR||INR 49.0979||INR 490,979||Go to site |
|Indonesian Rupiah (IDR) IDR||IDR 10217.5222||IDR 102,175,222||Go to site |
|Japanese Yen (JPY) JPY||JPY 84.8009||JPY 848,009||Go to site |
|Malaysian Ringgit (MYR) MYR||MYR 3.1259||MYR 31,259||Go to site |
|New Zealand Dollars (NZD) NZD||NZD 1.1052||NZD 11,052||Go to site |
|Norwegian Krone (NOK) NOK||NOK 6.2404||NOK 62,404||Go to site |
|Philippine Peso (PHP) PHP||PHP 38.2992||PHP 382,992||Go to site |
|Saudi Riyal (SAR) SAR||SAR 2.8309||SAR 28,309||Go to site |
|Singapore Dollars (SGD) SGD||SGD 1.0215||SGD 10,215||Go to site |
|South African Rand (ZAR) ZAR||ZAR 10.5884||ZAR 105,884||Go to site |
|Swedish Krona (SEK) SEK||SEK 6.3803||SEK 63,803||Go to site |
|Swiss Francs (CHF) CHF||CHF 0.7474||CHF 7,474||Go to site |
|Thai Baht (THB) THB||THB 24.7821||THB 247,821||Go to site |
|UAE Dirham (AED) AED||AED 2.7723||AED 27,723||Go to site |
When making international money transfers there are three t’s you want to get familiar with:
Depending on how quickly you want or need your money transferred to your overseas destination you have several World First products to choose from. The money transfer process is easy - you have the choice of doing your transfer via the World First App, online or over the phone. Your options are:
|Spot contractsSpot contracts|
Just made a spontaneous purchase on an 18th Century French Bureau or a villa in Tuscany and need to transfer your deposit pronto. A spot contract is what you’re after. With this option World First offer you a rate based on the live exchange rate on the day and the best thing is World First has a ‘best rate guarantee’ to ensure you get the best rate possible on your transfer.
|Forward contractsForward contracts|
Heard rumours that exchange rates are about to drop and you want to lock in a rate but aren’t ready to make your transfer just yet? With a World First forward contract you can fix your rate up to 2 years in advance. You’ll likely need to pay a deposit but the balance will not be due until the end of the contract. The good news is you’ll know exactly how much you will get when you are ready to make your transfer. With forward contracts there are some risks that the rate moves against you so might have to top up your deposit if this happens.
|Regular paymentsRegular payments|
You’ve started your own custom design t-shirt business and you’ve got to regularly pay your suppliers based in China or you send money to Uncle Harry every month to help him with his medical needs, whatever the reason you need to transfer money internationally regularly World First can automate your payments. To help with your budgeting there’s even flexibility to allow you to lock in a rate or convert it at the rate on the day of the transfer.
|Currency optionsCurrency options|
Like to have your cake and eat it too? Currency options, also sometimes referred to as a 50% participating forward, could be the international money solution for you. Currency options at World First allow you to fix a rate when you know you’ve got a transaction coming up but you also want to be able to benefit if the rate moves in your favour before the transfer date. You set a worse case rate and if the rate moves in your favour you’ll get 50% of the upside.
|Firm orderFirm order|
Don’t have the time to monitor exchange rates all day but know the rate you want to exchange at? World First can do the monitoring for you. You tell them the rate you want, then when the market gets to that rate they’ll book it for you. They also do the same thing in reverse so if you tell them your worst rate if the rate reaches this and looks like it’s going further south, they will book it for you.
You’ve got plenty of options these days when it comes to making an international money transfer, here are some of the reasons to consider using World First:
Visit World First websiteGo to site
Before you’ll be able to make an overseas money transfer with World First, you’ll need to register for a personal account. You can do this over the phone or online. It takes around ten minutes to complete the registration process, and as soon as you’re identity has been confirmed you’ll be able to make a transfer - this can be within a hour of registration.
There are three steps to making a money transfer:
1. Book a rate. When you’re ready to make an overseas money transfer you’ll advise World First how much you want to send, who to pay and what currency you want to pay it in. World first will then quote you a rate for that trade.
2. Transfer funds to World First. You’ll receive an email confirmation which will confirm your trade along with the details of where send your funds and by when. You can transfer your funds to World First via electronic funds transfer or phone banking.
3. Money is sent out. World first will convert the funds and transfer the funds to the account requested by you.
Some extras you might want to know: