OFX Money Transfers
See what OFX has to offer for your international money transfer needs. OFX is a well-known international money transfer company offering foreign exchange services around …
Fact checked
Send Payments (formerly known as SendFX) is a relative newcomer to the international money transfer game, having been formed in 2018.
Find out what Send Payments has to offer and compare its fees and exchange rates with other international money transfer providers right here with Savvy. Once you’ve chosen your ideal provider, you can start your transfer journey today.
*All product information is correct as of August, 2022.
A relatively young company, Send Payments started life on the Gold Coast in 2018. It’s now expanded to include both retail and business solutions to foreign exchange transfers, with employees on three continents around the world.
Significantly, it recently partnered with Property Exchange Australia (PEXA), the premier online platform for property settlements used by Australian conveyancers and lawyers. It is a registered remittance provider with AUSTRAC, is a member of the Australian Financial Complaints Authority (AFCA) and holds a financial services licence with ASIC.
Send Payments offers international money transfers from bank account to bank account in more than 30 different countries. Their focus is retail customers and small to medium-sized companies wanting a personal international exchange service with a dedicated customer account manager for each account. They offer customised forex solutions for their business customers as well as fast transfers for their retail transfer clients.
Transfer limits
Are you wanting to know how much you can send? There is a minimum transfer amount of $250, while the maximum you can send online is $50,000. Larger transfers can be booked through your account manager and come without any upper limit. There may be account limits imposed by the bank you use to fund your transfer, however.
Speed of transfers
Send aims to get your money to its destination within 24 to 48 hours. The exact transfer time will depend on the currency of your transfer, the destination of your funds, when your transfer takes place and if any further identification or documentation is required for your transfer.
Fees charged
There are no transfer fees collected by Send. Instead, they make their money by charging a markup on the exchange rate offered. However, Send says the markup they add is far less than the conventional banks, potentially costing you less overall.
Send Payments is in the process of developing its mobile app, so transfers are arranged through its website. This is the process for starting a transfer:
Send Payments offers international money transfers with no transfer fees, unlike major banks which can charge fees of up to $30 or more to carry out your transfer.
Their exchange rates are highly competitive and on a par with other specialist transfer providers, so for a large transfer (over $5,000), they may be amongst your cheapest options to send money overseas.
Send Payments aims to offer personal and customised solutions to their retail and business customers. An account manager is assigned to each new account, so you can be sure you’ll have advice and strong customer support when you make your first transfer.
Their mobile app is still under development, so it’s only possible to send money overseas through their website at present.
Unlike other providers who enable you to transfer as little as you like, you’ll be required to transfer at least $250 through Send Payments, potentially making them less suitable for smaller transfers.
As it’s necessary to sign up for a transfer account using their website, there’s no way of getting an easy price comparison for your transfer if you’re just shopping around for the best rate.
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.
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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.
