4.6 / 5
For most everyday international transfers from Australia, Wise is the cheapest and most transparent option — mid-market exchange rate plus an upfront fee from about 0.35%. OFX wins on large transfers ($10k+) with no flat fee and phone support; Remitly and Western Union earn their keep only when the recipient needs cash pickup. PayPal and the big four banks are consistently the most expensive ways to send money abroad.
✓ What we like
- Specialists (Wise, OFX, Remitly) routinely deliver 2–4% more money to the recipient than banks or PayPal on the same send amount
- Wise shows its full fee upfront and converts at the mid-market rate — no hidden margin
- OFX drops its flat fee entirely above A$10,000 and offers 24/7 phone support
- Cash pickup within minutes is available via Western Union and Remitly Express where recipients are unbanked
✗ What could be better
- "Fee-free" bank and PayPal transfers hide a 2.5–5% exchange-rate margin in the rate
- Revolut's headline rate only applies within monthly fair-usage limits, and a 1% weekend markup applies on the Standard plan
- Remitly's Express speed costs roughly 2–3x the margin of its Economy option
- Exact fees vary by corridor and payment method — always compare the amount received, not the fee
Sending money overseas has one trick every provider hopes you won’t notice: the advertised fee is rarely the real cost. The bigger charge is usually buried in the exchange rate — the gap between the rate you’re given and the mid-market rate you see on Google. A “fee-free” bank transfer with a 4% rate markup costs $200 on a $5,000 send; a specialist charging a visible $25 fee at the mid-market rate costs… $25.
So this comparison scores every provider the only honest way: the total amount that lands in the recipient’s account, combining the upfront fee and the exchange-rate margin. It’s the same total-cost approach we use in our electricity comparison guide — headline discounts lie, delivered dollars don’t.
The comparison at a glance
| Provider | Upfront fee (typical) | Exchange-rate margin | Typical speed | Best for |
|---|---|---|---|---|
| Wise | From ~0.35% (min ~A$3.50) | None — mid-market rate | Minutes to 1 day (majority arrive within seconds–hours) | Most transfers under ~$10k |
| OFX | A$15 under $10k, $0 above | ~0.4–1.5% | 1–2 business days | Large transfers, phone support |
| Remitly | Varies by corridor | ~0.5–3% (Economy ≈ 0.8%, Express ≈ 2.6% on AUD→EUR) | Express: minutes · Economy: 1–3 days | Remittances, cash pickup |
| Revolut | $0 within plan limits | 0% weekday within fair use, then +0.5%; +1% weekends (Standard) | Minutes to 1 day | Existing Revolut users, small amounts |
| Western Union | A$0–25+ by corridor | ~1.5% majors, up to ~6% exotic | Minutes (cash) to 2 days | Cash pickup, huge agent network |
| PayPal | Up to 3.9% + fixed fee (card-funded) | ~3% conversion margin | Minutes | Only when both sides insist on PayPal |
| Big four banks | $0 online (fee waived) | ~2.6–4.1% (NAB lowest, CommBank highest) | 1–3 business days + possible intermediary fees | Nothing — convenience only |
Fees verified July 2026 from provider-published pricing. Exact numbers vary by corridor, amount and payment method — always run your own numbers before sending.
Wise: the transparent default
Wise built its business on the thing everyone else hides: it converts at the live mid-market rate and charges one visible fee, starting around 0.35–0.63% depending on the corridor (AUD→USD sits near the bottom of that range, minimum ~A$3.50). Send A$1,000 to the US and the total cost is roughly A$4–6 — versus A$26–41 in hidden margin at a big-four bank.
What we like:
- Nothing hidden. The fee, the rate and the exact amount arriving are shown before you pay.
- Fast. The majority of Wise transfers now arrive within seconds to hours.
- Volume discount above A$40,000 equivalents.
- The multi-currency account and debit card make it useful beyond one-off transfers — handy if you also invoice overseas clients from a small business.
What to watch: paying by card costs more than paying by bank transfer, and a handful of exotic corridors carry higher percentage fees. Wise also offers no cash pickup.
Verdict: for the common case — bank account to bank account, under ~A$10,000 — Wise is the benchmark the rest of this list is measured against. New users get a fee-free first transfer via our Wise referral link.
OFX: the large-transfer specialist
OFX flips the model: a flat A$15 fee under A$10,000, no fee above it, with its margin built into the rate at roughly 0.4–1.5% — tightening as the amount grows. On a A$50,000 property settlement or business payment, a negotiated OFX rate frequently beats everyone, and you get a 24/7 phone line and a human dealer, which matters when five figures are in flight.
Minimum transfer is A$250, and delivery takes 1–2 business days. Under ~A$10k, Wise’s mid-market pricing usually still wins; above it, get quotes from both.
Remitly: built for remittances
Remitly’s pricing splits in two. Economy (funded by bank transfer, 1–3 days) carries a modest margin — about 0.8% on AUD→EUR. Express (card-funded, minutes) jumps to roughly 2.6% on the same corridor. Its strength is the last mile: cash pickup, mobile-wallet and home-delivery options across Asia, the Pacific and beyond, with corridor-specific promos for first-time senders. Sending limit from Australia is A$45,000 per transfer.
If your recipient has a bank account and can wait a day, Wise is usually cheaper. If they need cash in hand today, Remitly Express or Western Union is the comparison to run.
Revolut: good until you hit the limits
Within your plan’s monthly fair-usage allowance (A$2,000 on Standard), Revolut exchanges on weekdays with no markup — genuinely competitive. The catches arrive quickly: a 0.5% fee beyond the allowance, a 1% weekend markup (5pm Friday–6pm Sunday ET) on Standard, and per-transfer fees for some international payments. Fine for small, regular, weekday transfers if you already use Revolut; not the tool for a big one-off send.
Western Union: the cash network
Western Union’s 500,000+ agent locations remain unmatched — you can send money to places no app-only service reaches, with cash available in minutes. You pay for that reach in the rate: margins average around 1.5% on major corridors and can reach ~6% on exotic ones, plus a transfer fee of A$0–25+ depending on how you pay and how the recipient collects. Bank-to-bank transfers are cheaper than cash-to-cash. Use the fee estimator and compare the amount received against Remitly before committing.
PayPal: convenient, and priced like it
PayPal is the most expensive mainstream way to move money across borders. Personal international payments funded by card run up to 3.9% plus a fixed fee, and any currency conversion carries PayPal’s ~3% margin on top of the base rate. Send A$1,000 and the total cost can approach A$70. Its one virtue is ubiquity — if both parties only have PayPal, it works. Otherwise, moving the same transfer to Wise keeps roughly 3–6% more of your money.
The big four banks: the expensive default
CommBank, ANZ, Westpac and NAB all waive the visible online transfer fee — and all bury their charge in the rate. Published margin analysis puts NAB around 2.6% (the cheapest of the four) and CommBank above 4%, with ANZ and Westpac between. Add 1–3 business days of SWIFT time and the possibility of intermediary-bank deductions along the way. On a A$5,000 transfer you’re paying A$130–200+ in hidden margin for the convenience of not opening another app. It’s the same pattern we see with energy “discounts” in our Amber Electric review: the headline number isn’t the price.
How to choose in 60 seconds
- Recipient has a bank account, sending under ~A$10k → Wise — mid-market rate, fee shown upfront.
- Sending A$10k+ → quote OFX (no flat fee, negotiable rates) against Wise and take the better amount received.
- Recipient needs cash → compare Remitly Express vs Western Union on your exact corridor.
- Already on Revolut, small weekday transfer within limits → Revolut is fine.
- Whatever you do → don’t default to PayPal or your bank; that choice alone typically costs 2–5% of the transfer.
Frequently asked questions
What’s the cheapest way to send money overseas from Australia? For most bank-to-bank transfers, Wise — the mid-market rate plus a fee from ~0.35% beats the 2.5–5% total cost typical of banks and PayPal. For A$10,000+, OFX’s fee-free large transfers can edge ahead.
Are these providers safe? All providers compared here are registered with AUSTRAC and most hold an Australian Financial Services Licence. Specialists hold customer funds in segregated accounts, but they aren’t banks — money in transit isn’t covered by the government deposit guarantee.
Why is the exchange-rate margin worse than a fee? Because it scales invisibly. A $10 fee on $10,000 is 0.1%; a “fee-free” 4% margin on the same transfer is $400. Providers advertise the number that looks small.
How fast will my money arrive? Wise: often within hours. Remitly Express and Western Union cash: minutes. OFX and banks: 1–3 business days. Speed usually trades off against cost — pay for it only when you need it.
This article contains referral links, including to Wise — if you sign up through them we may earn a commission at no cost to you. Commissions never set our verdicts; see how we review. This is general information, not financial advice. Fees and rates verified July 2026 and change frequently — confirm current pricing with each provider before transferring.