Compare Australian Banks and Money Transfer Specialists

How does it work?

ProgressBars Created with Sketch. Step 3: Select your option and go to their site Step 2: Compare and learn more Step 1: Enter your amount and currency
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Provider
Exchange Rate
Transfer fee
Total Cost (AUD)
84.8663
$0.00
$11,783.24
Go to site Review  Lowest cost option

TorFX are a British company with a global footprint. They service more than 40,000 customers that range from expats to international property investors.

In Australia, they have grown rapidly thanks to a local customer team and a strong affiliate network. They have a minimum transaction size of $2,000 and provide exceptionally competitive exchange rates.

Pros:

  • +No transfer fees
  • +Highly competitive exchange rates
  • +Secure transfers with authorised
  • +Assigned account manager
  • +24 / 7 Assistance
  • +Available range of transfer options

Cons

  • -Limited exotic currencies available
84.9512
$58.00
$11,829.46
Go to site Review $46.22 more expensive

TransferWise is the new, brash kid on the block when it comes to international money transfers. With a host of high-profile owners including Richard Branson, they recently landed in Australia, building from their European head office.

Pros:

  • +Exchange rates fees are competitive and transparent
  • +The online experience is first class
  • +Regulated by ASIC and registered with AFSL
  • +Constantly bringing out new innovative products

Cons

  • -There are currently a number of global currencies they do not currently support
  • -Limited support based in Australia
  • -Percentage based fee can add up on very large transfers
84.4415
$0.00
$11,842.52
Go to site Review $59.27 more expensive

HiFX are one of the biggest money transfer companies in the world. Their parent company Euronet is listed on the NASDAQ and recently acquired Xe.com.

They are particularly useful for individuals doing regular transfers overseas.

HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment.

Locally, HiFX have Australian offices in Sydney, Melbourne and are expanding to the remaining capital cities.

Pros:

  • +Fantastic bank - beating exchange rates
  • +Low fees for transactions less than $10, 000
  • +No fees for transactions of $10, 000 or more
  • +High security transfers regulated by ASIC and FMA
  • +Fast and easy for personal or business accounts
  • Cons

  • -Only electronic bank transfers accepted
  • -Limited exotic currencies
  • 81.3300
    $18.00
    $12,313.59
    Go to site Review $530.34 more expensive

    ANZ International Money Transfer is a secure and fast way to transfer money overseas.

    Pros:

  • + Fast transfers
  • + Safe and secure
  • + Variety of currencies available
  • Cons

  • - $18 fee for transfers via Internet or phone banking
  • - $32 fee for transfers at an ANZ branch
  • - Poor exchange rates
  • - 24 hour hotline not available
  • 80.9000
    $20.00
    $12,380.94
    Go to site Review $597.69 more expensive

    Westpac is one of the big four banks in Australia offers speedy and secure transfers.

    Pros:

  • + Fast payment processing times
  • + Secure transfers
  • Cons

  • - Must be Westpac account holder
  • - $20 fee for transfers via Internet or phone banking
  • - $32 fee for transfers at an ANZ branch
  • - Poor exchange rates
  • 79.8100
    $12.00
    $12,541.76
    Go to site Review $758.51 more expensive

    Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.

    Pros:

  • + Fast transfers+ Easy transfers
  • + Security guarantee covers any losses from unauthorised transactions
  • Cons

  • - $22 fee for transfers via Internet or phone banking
  • - $30 fee for transfers at an CBA branch
  • - Poor exchange rates
  • How it works

    Step 1: Your situation

    Enter a currency and the amount you need.

    Step 2: Compare and learn more

    Compare negotiated exchange rates from multiple banks and providers and make a selection.

    Step 3: Go to site

    To make your transfer, you’ll need to go to a currency provider’s site.

    Frequently asked questions (FAQs)

    Yes. The Currency Shop holds an Australian Financial Services Licence (462269) and is a member of the Financial Ombudsman Service. We have partnered with the largest, safest and most trusted money transfer companies in the world. For more information, click here.
    The Currency Shop does not charge you. So how do we make money? We may receive a referral fee from the banks and money transfer companies that we are partnered with.
    You can lose up to 8% of your money each time you transfer money internationally, depending on how you do it. The Currency Shop will help you find the best way to transfer your money and avoid the common hidden fees and charges.
    The Currency Shop is a free currency comparison service. Every bank and currency exchange will offer you a different exchange rate and fee. Instead of spending hours visiting every website and branch, we make it easy for you to find the best deal and save money. We also have a team of local currency consultants that can help you over the phone.
    If you need to transfer your Australian dollars into cash, head back to our homepage and select Travel Money.