Foreign Currency Exchange Comparison

Compare Providers for International Money Transfers

Whether you are immigrating to Australia permanently or planning a short-term stay, 485 Visa Insurance can help you save a significant amount of money when sending and receiving international money transfers.

Our preferred providers are substantially cheaper than the banks and you can compare them on everything from price to speed to service.

Fastest Transfers

FlashFX

FlashFX Secure Overseas Money Transfers

Margin

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Low, Transparent Fees

TransferWise

TransferWise Money Transfer

Fixed Fee

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CurrencyFair

CurrencyFair International Money Transfer

Fixed Fees + Margin

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Highest Rating

TorFX

TorFX Money Transfers

Margin

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fees

transaction fee

transaction fee

$15.00

NONE

0.4% - 2.35%

€ 3.00

NONE

$6.00 - $30.00

margin on usd

margin on usd

0.58%

1.75%

NONE

2.33%

0.58%

9.54%

transfer speed

transfer speed

1-2 days

5 mins* to 1 day^

* using ripple, ^ using swift

1-2 days

1-2 days

1-2 days

1-2 days

minimum transfer

minimum transfer

$250.00

$200.00

$1.00

$5.00

$200.00

None

offering

transfer to foreign bank account

transfer to foreign bank account

transfer to foreign bank account - OFX Global Money Transfers: Yes

transfer to foreign bank account - FlashFX Secure Overseas Money Transfers: Yes

transfer to foreign bank account - TransferWise Money Transfer: Yes

transfer to foreign bank account - CurrencyFair International Money Transfer: Yes

transfer to foreign bank account - TorFX Money Transfers: Yes

transfer to foreign bank account - CBA International Money Transfer: Yes

transfer to cryptocurrency wallet

transfer to cryptocurrency wallet

transfer to cryptocurrency wallet - OFX Global Money Transfers: No

transfer to cryptocurrency wallet - FlashFX Secure Overseas Money Transfers: Yes

transfer to cryptocurrency wallet - TransferWise Money Transfer: No

transfer to cryptocurrency wallet - CurrencyFair International Money Transfer: No

transfer to cryptocurrency wallet - TorFX Money Transfers: No

transfer to cryptocurrency wallet - CBA International Money Transfer: No

also offer currency trading

also offer currency trading

also offer currency trading - OFX Global Money Transfers: Yes

also offer currency trading - FlashFX Secure Overseas Money Transfers: No

also offer currency trading - TransferWise Money Transfer: No

also offer currency trading - CurrencyFair International Money Transfer: No

also offer currency trading - TorFX Money Transfers: Yes

also offer currency trading - CBA International Money Transfer: Yes

send funds through mobile app

send funds through mobile app

send funds through mobile app - OFX Global Money Transfers: Yes

send funds through mobile app - FlashFX Secure Overseas Money Transfers: No

send funds through mobile app - TransferWise Money Transfer: Yes

send funds through mobile app - CurrencyFair International Money Transfer: Yes

send funds through mobile app - TorFX Money Transfers: No

send funds through mobile app - CBA International Money Transfer: Yes

Through Netbank App

service

point of difference

point of difference

Offers Phone Support

Fastest Transfers ? & Crypto Support

? if receiving bank supports Ripple

Transparent Fees

Competitive Rates

Offers Personal Account Manager

Established Bank

phone support

phone support

phone support - OFX Global Money Transfers: Yes

phone support - FlashFX Secure Overseas Money Transfers: No

phone support - TransferWise Money Transfer: No

phone support - CurrencyFair International Money Transfer: No

phone support - TorFX Money Transfers: Yes

phone support - CBA International Money Transfer: Yes

live chat support

live chat support

live chat support - OFX Global Money Transfers: No

live chat support - FlashFX Secure Overseas Money Transfers: Yes

live chat support - TransferWise Money Transfer: No

live chat support - CurrencyFair International Money Transfer: No

live chat support - TorFX Money Transfers: No

live chat support - CBA International Money Transfer: No

24 hour phone or chat support

24 hour phone or chat support

24 hour phone or chat support - OFX Global Money Transfers: Yes

24 hour phone or chat support - FlashFX Secure Overseas Money Transfers: No

24 hour phone or chat support - TransferWise Money Transfer: No

24 hour phone or chat support - CurrencyFair International Money Transfer: No

24 hour phone or chat support - TorFX Money Transfers: Yes

24 hour phone or chat support - CBA International Money Transfer: No

provider rating

stars

stars

4.5

4.5

4.5

4.5

5.0

2.5

Who has the cheapest rates for international money transfers?

That depends on how much you are spending. For transactions under $200, TransferWise and is a good option because of their $1 minimum transaction size. For transactions between $200 and $10,000, TorFX is a great option because of their low fees. For transactions over $10,000 we recommend OFX because their fees are competitive at that price, plus they and a large, well established provider.

What are commissions, transaction fees and spread (margin)?

A transaction fee is a fixed administrative fee that is charged for sending and/or receiving an international money transfer.

Commission fees are like a transaction fee except that it is charged as a percentage of the transaction rather than a fixed fee.

The spread (also called a margin) is the difference between what the provider buys a currency for and what they sell it for.

Providers may charge any combination of commissions, flat transaction fees and a spread, so be sure to look carefully.

What’s the fastest way to send money overseas?

The fastest way to securely send money overseas is through Ripple. Ripple is a cryptocurrency like Bitcoin, but unlike Bitcoin their transactions are fast, guaranteed and are fully compliant with anti money laundering laws.

FlashFX gives you the best of both worlds by allowing you to transfer money directly to a foreign bank account using ripple in under 5 minutes. Please note that Ripple transfers are not available to every bank, so please confirm with FlashFX before sending money.

How long does an international money transfer take?

Assuming your foreign exchange provider uses the Swift network, transactions usually take 1-2 days to hit the destination account. If they are using Ripple, transactions are usually complete in under 5 minutes.

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