Fact checked
Are you wanting to send money overseas and thinking of using Apple Pay? Consider a range of international money transfer providers right here with Savvy to find out where to get the best exchange rates and lowest fees. Compare your options to determine whether transferring money overseas with Apple Pay is the right option for you before you start your transfer today.
OFX |
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Special Offer: 5 fee free transfers (saving you up to $75 in fees) + preferential rates for international money transfersMore details |
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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)More details |
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Xe |
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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 moneyMore details |
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Western Union Money Transfer |
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Send money to over 200 countries and territories across the world onlineMore details |
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Wise Money Transfer |
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Send money cheaper and easier with Wise with no hidden fees.More details |
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TorFX |
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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.More details |
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Currencyfair |
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Send money overseas at better exchange rates, with no hidden fees.More details |
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Remitly |
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countriesMore details |
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Revolut |
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Fast and easy, with super competitive rates across all major currencies. Join 25+ million customers saving on global transfers.More details |
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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.
Apple Pay is not a stand-alone method of sending money. It’s a digital wallet that holds credit, debit and pre-paid cards, and is similar in function to Google Pay and Samsung Pay. Whether you can use the debit or credit cards contained in your Apple Pay wallet to send money overseas will depend on the individual credit card issuer and the Australian bank supplying your debit cards. Be warned, though: credit card companies (which you’d likely use with Apple Pay) can charge 3% or more of the transfer amount in fees, in addition to often providing a lesser exchange rate.
However, some international money transfer services support Apple Pay (such as Wise), so you can include an international debit card in your Apple Pay wallet and use a specialist provider to send your money overseas. An international money transfer company will almost always ensure you receive a better exchange rate with fewer fees than if you use your credit card to send money internationally.
However, not all international money transfer companies allow payments through Apple Pay and instead use a direct debit from your bank account. This is a faster and cheaper option, as it doesn’t involve any card fees or additional expenses. Savvy has partnered with a panel of trusted international money transfer (IMT) providers who can help you open an account and start transferring money overseas quickly today.
The other options you have available to send money overseas include:
On top of comparing international money transfer services to determine whether they support Apple Pay, consider the following to help find the most suitable option for you:
Exchange rates
It’s important to get the best exchange rate for the currency you wish to transfer your Australian dollars into, as the higher the rate, the more foreign currency you can buy. The exchange rate you want to look out for is called the ‘mid-market’ rate (as it’s mid-way between the buy and sell price on the international money market). The mid-market rate represents the top exchange rate available at the time and is the same rate banks use to transfer money. Many providers add markups to their rates, so it’s crucial to compare your options.
Fees for transfer
Some international money transfer companies offer to exchange your money for a fee, while others don’t charge a fee but add a bit onto the exchange rate (called adding a ‘margin’ or a ‘mark-up’). The fees charged can either be a set fee (ranging from $6 up to $15) or a percentage of your transfer amount (such as 0.4% to 0.5% of your transfer sum).
Serviceability
Make sure the transfer company you choose services the country and provides the currency you’re after. Not all providers operate in all countries, while some companies specialise in a particular continent and region. For example, SingX is based in Singapore and specialises in transfers to other Asian nations, including sending money to China.
Speed of transfer
We know that banks can take from three to five business days to make a transfer, but international transfer companies get your funds overseas faster, on average within two days. Depending on the destination, many transfers will arrive the same day or even instantly. Since Apple Pay will use your nominated bank credit card, any payments could be subject to lengthy bank delays. If you need to get money overseas quickly, it’s always worth comparing between providers to see who can get your funds to their destination the fastest.
Transfer limits
Some money transfer companies impose limits on transfers. Minimums range from $1 up to $250, and maximums range from $1,000 a day up to between $50,000 and $500,000 or more. However, other companies have no upper limits, so it's worth comparing your options thoroughly if you need to make a very large money transfer.
There's no need to pay a dollar to compare money transfer services with Savvy, as you can do so for free at any time.
You can compare offers with competitive exchange rates, fees and transfer speeds in minutes with us.
We're partnered with trusted and licensed money transfer companies to bring more quality to your comparisons.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
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For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
