Best International Money Transfer Services
Comparison of the most popular international money transfer services available. The difference can be hundreds! Wise is the winner due to 0% exchange rate markup
The table below shows how much it costs to transfer £10,000 GBP to Australia Dollars.
Services are listed in order of cost to you the user, with the lowest cost services first.
The winner is Wise which refreshingly does not have an exchange rate markup, unlike other providers where the exchange rate markup tends to be hidden away in their fee schedule. Instead, Wise is upfront about their fees, charging a transfer fee of 0.34% which is the lowest I could find.
After having used Wise myself for several months, what really stands out are the instant money transfers, both into and out of the service, they literally take seconds! Much faster than the days I used to wait with Currency Fair.
| Position | Service | Exchange rate markup | Transfer fee | 10,000 GBP to AUD |
|---|---|---|---|---|
| 1 | Wise | 0 % | 0.34% | $19,264 AUD |
| 3 | Currency Fair | 0.53 % | 3 Euros | $19,221 AUD |
| 4 | OFX | 1.43 % | 0 | $19,055 AUD |
| 2 | Remitly | 1.14 % | 2.99 GBP | $18,980 AUD |
| 5 | Revolut | 0.2 % | 205 GBP | $18,897 AUD |
| 6 | PayPal | 4.91 % | 2.99 GBP | $18,378 AUD |
I use this to pay back my time for researching the services available but it has not influenced my recommendation of Wise as the most cost-effective international money transfer service, I guess you'll just have to trust me.
