Free International Money Transfers

Compare free international money transfers and exchange rates and start your transfer now.

Last updated on July 20th, 2022 at 05:14 pm by Cate Cook

Compare free international money transfers and find the cheapest option

If you’re trying to find the cheapest way to send money overseas, you might be looking for providers who offer free international transfers. You can compare a range of affordable transfer offers all in one place with Savvy. We’re partnered with a range of international money transfer service providers, including those who offer free transfers, to give you more choice of reliable companies to use when sending your money overseas. Start the process here with Savvy today.

site-logos Xe
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From $0 100
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most money

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site-logos OFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $250 1-3 days $0 50+
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OFX offers speed, security and simplicity with no hidden fees, total transparency and real people support 24/7

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site-logos Wise Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1-3 days From 0.41% 53
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Send money cheaper and easier with Wise with no hidden fees.

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site-logos TorFX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $200 0-2 days $0 35
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Excellent exchange rates with no transfer fees. Trusted by over 55,000 customers. Awarded Canstar’s 5 star rating 2018-2021.

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site-logos SingX
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 30
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SingX offers live exchange rates with no mark ups and only charge a nominal fee shown to you upfront

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site-logos Remitly
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 0-2 days From $0 21
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countries

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More information about free international money transfers

How do I find a free international money transfer?

There’s a great deal of competition between international money transfer companies, so special offers and promotional codes offering free international transfers are available and can be found if you search carefully for them. Free transfers are offered for a variety of reasons, including:

  • companies wanting to attract new customers or high-value clients
  • promotions offering free transfers as a sweetener to gain regular business
  • because a transfer provider doesn’t rely on making money from fees, but rather by adding a margin to the international exchange rate

It’s only by comparing the total package offered by money transfer services that a true comparison can be made to help you find the cheapest deal.

Are free international money transfers always the cheapest option?

Free transfers may not always be the cheapest way to send money abroad. The biggest factor which will determine how much money you send abroad is the exchange rate you receive between your Australian dollars and the currency you want to change your money into. The mid-market rate is the value exactly in between international buy and sell rates and represents the ‘true’ value of the currency. If you’re offered an exchange rate close to the mid-market rate, you’ll be getting a good deal for your money.

Sometimes, it may be better to pay a small fee and get a better exchange rate, rather than go for a no-fee option and receive a less favourable rate. International money transfer companies either make their money by charging fees to carry out the transfer, which can a flat fee of anywhere up to $15 or a percentage fee, typically ranging from 0.4% to 0.5% of the transfer value. If a fee is charged, a competitive exchange rate is often offered which may be close to, or even at, the mid-market rate.

On the other hand, if no fee is charged, a markup is added to the exchange rate, which will directly impact how much foreign currency you can purchase. The table below demonstrates how much of a difference this can make when sending AUD $5,000 to the US:

Transfer type Fees Exchange rate Total converted Total Received
Percentage fee (0.5%)
AUD $4,975
USD $3,360.61
Free transfer
AUD $5,000
USD $3,342.50
  • Rates aren’t necessarily reflective of current exchange rates.

Even with less money being converted into USD, you’d still be better off opting for the transfer with the percentage fee in this instance. For this reason, it’s vital to compare exchange rates as well as take fees into account when you’re looking for the best deal, which you can do right here with Savvy.

How should I compare free international money transfer providers?

Other factors to compare when looking at international money transfers include:

Transfer speedhow long it takes to complete an international money transfer depends on your provider. Most specialist transfer companies will take under two days to get your money to its destination. Many will get it there the same day, or the very next day, while some can offer completed transfers in seconds. However, there may be situations where it could take up to five days to have your transfer completed.

Countries serviced – make sure the provider you choose operates in the country you require money to be sent to. The number of countries serviced can range from 21 up to more than 100 countries depending on who you choose.

Currencies – again, make sure your transfer company does deal in the currency you require. It’s worth comparing different providers to make sure the currencies they offer include the one you need.

Exchange rate guarantees – make sure the exchange rate you are initially quoted is the rate you’ll receive when your transfer goes through. Check if the rate you’re quoted is a fixed rate and how many hours it’s guaranteed for, as this can range from 12 to 36 or more.

Transfer limits – some companies have minimum transfer limits (such as $200, for example) so if you want to transfer a small amount check the limits which apply to the company of your choice. Others companies also have maximum limits which can range from $50,000 to $500,000 or more.

Customer support – if you think you may need assistance to make your international transfer, look for a company with a strong reputation for customer support. Some advertise offering customer support 24/7, others offer customer support in different languages and some reply on mobile app chatbots to help customers out. 

Which international money transfer companies offer free transfers?

The following companies are some of the providers who offer free international money transfers in particular circumstances, which may be the best for you depending on your situation:


This company charges a fixed $15 fee for transfers under $10,000, but for international transfers over $10,000 there is no fee and the exchange rate offered is often very competitive.


The first two transfers up to $3,000 are free for new customers, plus an exchange rate with no markup is offered, so you’ll receive the mid-market exchange rate for your transfer.


Offers a promotional deal with no transfer fees on the first transfer you make, and a very preferential exchange rate for the first deal once you’ve signed up with them.

Frequently asked questions about free international money transfers

Do banks offer free international transfers overseas?

No – when banks send money overseas through the SWIFT international banking system, they usually charge between $6 and $30 per bank transfer. There may even be a fee charged by the overseas bank to receive the funds, known as a receiving fee, which could be anywhere up to $35 for your transfer recipient.

Can businesses send money overseas for free?

No – businesses have to pay for international transfers in the same way that retail customers do. Many international money transfer companies have their own exchange rates and fee structures for businesses, which are different to those quoted to individuals.

Are there any providers for free instant cash transfers overseas?

Not really – a premium is often charged to send cash overseas instantly. It’s worth using an instant cash transfer if you have an urgent need to get money overseas or the provider doesn’t charge a premium to do so. Otherwise, most transfer companies will get your money to its destination in one to two days, with same-day arrival quite common. Banks will usually take between three and five business days to deliver your funds overseas.

Are there other ways to get money overseas for free?

It’s possible to send money to a pre-paid mobile SIM card through a phone company, just by providing the phone number of the card you wish to top up. This is a common way of sending money to people who have no bank account, such as those living in many African nations where the banking system is less developed. However, a margin will still be applied to the exchange rate in this instance, so this method isn’t really free either. When considering your options to send money overseas, always compare with Savvy to make sure you’re getting the best deal.