Money Transfer Services

Compare money transfer services to find the best way to send money abroad

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, updated on August 17th, 2023       

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Compare services for international money transfers

Are you wondering what the best way to send money overseas is? It’s important to compare your options before you apply, which you can do right here with Savvy. We can help you decide which international money transfer service is best for you from our panel of trusted transfer providers.  Compare exchange rates and fees with Savvy and complete your international transfer today.

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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Special Offer: 5 fee free transfers (saving you up to $75 in fees) + preferential rates for international money transfers

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site-logos Instarem
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $1 Within minutes From 0% to 1% 55+
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Enjoy $40 bonus on your first money transfers of $250 & above! Use code*: SAVVY20X2 (Minimum transfer of AUD 250 Valid till 31st August 2023)

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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 Western Union Money Transfer
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 1 - 2 days $0 35
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Send money to over 200 countries and territories across the world online

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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 325,000 customers. Awarded Canstar’s 5 star rating 2018-2021.

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site-logos Currencyfair
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $5 Within minutes From $0 20+
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Send money overseas at better exchange rates, with no hidden fees.

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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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site-logos Revolut
  Minimum Transfer Amount Transfer Speed Transfer Fee Total Currencies Available  
site-logos $0 Within minutes From $0 27+
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Fast and easy, with super competitive rates across all major currencies. Join 25+ million customers saving on global transfers.

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.

More information on international money transfer services

What are international money transfer services and how do they work?

International money transfer (IMT) services are companies that specialise in sending money overseas. They often specialise in one particular region of the world, or a particular type of transfer. Because they deal with thousands of transfers every day, they’re able to provide the very best exchange rates and lowest fees compared to traditional banks.

International money transfer providers operate primarily online; you create an online account just like you would if you wanted a new bank account, and then use it whenever you need to transfer money globally.  Once you've set up your account, the process for doing so is as simple as entering the amount you need to transfer, the destination and required currency and your recipient’s bank details.

Other providers offer more services beyond international transfers, such as offering a foreign exchange (FX) trading platform and FX transfer services between businesses that regularly trade globally across international borders. Frequent travellers or people living or working in a foreign country may need to exchange money from one currency to another often, so there are also international money transfer providers who offer international accounts, where money can be stored in a variety of currencies and exchanged when rates are most favourable.

Savvy is partnered with a wide range of international money transfer providers who can make your transfer a quick and easy one so that you can compare a variety of offers with us today before diving into the transfer process.

How should I compare international money transfer services?

There are two main areas of comparison to look at when you’re deciding which international money transfer service to use: the exchange rate offered and the fees charged. 

Exchange rate

The mid-market rate is the ‘true’ exchange rate between two currencies.  When comparing transfer offers, look for the one closest to the mid-market exchange rate, as this may offer you the best deal (depending on the fees charged to make the transfer).  Ideally, you should look for a combination of the best exchange rate possible and the lowest fees.

Fees charged

Some companies charge a flat fee for all transfers (usually up to $10 to $15) but they may add a margin onto the exchange rate.  Other companies offer the mid-market exchange rate without adding a margin but charge a percentage of the transfer amount (typically up to 0.5% of your transfer amount). 

In general, if you’re transferring a large amount overseas (such as $5,000 or more), a flat fee will probably be your cheapest option.  For smaller transfers in the hundreds rather than thousands, a company charging a percentage fee may be worth looking at first.

More comparison points to consider:

  • Currencies – check that your provider offers the currency you want. While some providers offer 100 currencies or more, others may only have closer to 20 available
  • Countries – make sure your provider operates in the country you wish to transfer money to
  • Transfer limits – some transfer companies have maximum and minimum limits, so check if the amount you wish to transfer is within their parameters. Some services impose a minimum transfer limit of $200 to $250 instead of $0, while upper limits can range from $50,000 to $500,000 or more.
  • Speed – transfer speeds can range anywhere from a matter of seconds up to five days for your money to reach its destination. If you need to transfer money immediately, you should look to a provider who specialises in instant transfers
  • Guaranteed price – if you aren’t going to make your transfer immediately, compare how long the international money transfer provider guarantees a spot price for. Some offer guarantees for just 12 hours, whilst others may allow up to 48 hours.
  • Method of payment – some transfer providers accept cash, while others only allow transfers from one bank account to another

Who are some of the best international money transfer services?

Savvy’s international money transfer partners can all help you send the money you need reliably and efficiently. Some of our top picks are:


Remitly was established in the USA but has now expanded globally.  It initially specialised in helping migrants send funds from the USA to support their families.

  • Frequently used to send money to South American countries
  • Mobile app specialist
  • Current has a special offer of no fees for the first transfer
  • Operates in over 100 countries worldwide, with 21 currencies available


TorFX is based in Australia but has offices worldwide. It’s won numerous awards for the most outstanding value in FX transactions.  Dedicated account managers are allocated to business users.

  • Offers an online platform for FX trading
  • $200 minimum transfer amount
  • Forward and spot contracts available
  • Guarantee to match competitors’ exchange rates


Xe is a globally-recognised, award-winning online forex trading specialist based in Canada. It’s a subsidiary of the giant Euronet Worldwide Group, and has been established for over 25 years.

  • Customer support in three languages (English, French, Spanish)
  • Low fees (0.5% to 2% of transfer amount)
  • 139 currencies in over 220 countries
  • Bank to bank transfers (no cash transactions)


Founded in Singapore, SingX has now expanded to Australia and specialises in transfers to Asian countries. It permits money to be sent to China (via Hong Kong).

  • Locked-in exchange rate available
  • Operates to 30 countries, using 15 currencies
  • Transaction percentage fee of around 0.5%
  • Known for very quick transfers – most within one day

Frequently asked questions about international money transfer services

What information will I need to send money with an international money transfer service?

In most cases, you'll need to supply some form of ID (such as your driver's licence or passport) to set up your account, as well as provide the details of the account your funds will be drawn from. You'll also need to supply the details of the account you're sending to, which may include a BIC or IBAN (common codes to identify international bank accounts). Once you have all of these, you can proceed with your transfer.

Are all international money transfer services safe?

International money transfer providers are usually licenced and regulated in their country of origin. Savvy has partnered with a panel of international money transfer service providers that are regulated and can be trusted to send your money overseas safely. Our panel members are among the most reliable transfer service providers in the world.

Can Apple Pay be used as an international money transfer service?

Apple Pay can be used to transfer money internationally but its use will depend very much on the type of card you have, the bank you are using and the country you are in.  If you want to send money overseas instantly, you are better off using a specialist international money transfer company to carry out your transfer.

Is it better to transfer money with my bank?

No – international money transfer companies generally offer better exchange rates and lower fees than the big banks, who conduct transfers through the slower SWIFT system, and they may get your money overseas faster too.  Some banks can charge up to $30 per transfer, whereas international money transfer companies on average will charge less than $10. In addition, some transfer companies specialise in sending money to international destinations which some banks may not be able to service.

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