If you need to send money overseas from Australia, you don't necessarily have to use your bank. A growing number of money transfer apps let you exchange Australian dollars, send money internationally and track transfers from your phone.

The differences between these apps can be significant. Fees, exchange rates, transfer speeds, supported countries and recipient options all vary.

This guide looks at some of the best money transfer apps available in Australia, what each one offers and what to consider before making an international transfer.

Key Takeaways

• Money transfer apps can be a convenient alternative to traditional bank international transfers, particularly when you want to arrange and track a transfer online.
• Don't compare apps based only on their advertised transfer fee. The exchange rate can have just as much impact on the final amount your recipient receives.
• Different apps are built around different use cases, from everyday transfers and large international payments to remittances, cash pickup and managing money across multiple currencies.

What Are Money Transfer Apps?

Money transfer apps are financial apps that allow you to send money between countries using your phone.

Depending on the provider, an app may allow you to:

• Send money internationally
• Convert currencies
• Hold multiple currencies
• Send money to bank accounts
• Send money to mobile wallets
• Arrange cash pickup
• Track transfers
• Set up recurring payments
• Receive money from overseas

The process is generally simpler than arranging an international transfer through a traditional bank branch.

You typically create an account, verify your identity, enter the amount and recipient details, review the exchange rate and fees, then confirm the transfer.

However, not every money transfer app offers the same services.

Some focus on personal remittances, while others are designed for larger transfers, travel or international business payments.

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Best Money Transfer Apps in Australia

There are several established money transfer apps available to Australians.

Rather than treating one provider as the universal winner, it's more useful to understand what each app is designed to do and compare the features that matter to your transfer.

1: Pesa: Sending, Receiving and Managing Money Across Borders

Pesa takes a slightly broader approach to international money transfer.

Rather than focusing only on sending a single international transfer, Pesa combines international transfers with multi-currency wallets, allowing users to hold, convert, send and receive money across supported currencies.

For Australian users, Pesa supports international money transfers to Nigeria, Canada and The United Kingdom.

Pesa can be particularly relevant if you:

• Regularly send money internationally
• Need to send and receive money across borders
• Want to hold multiple currencies
• Need to convert between currencies
• Send money to family overseas
• Want to manage international money through one app

Pesa currently advertises zero transfer fees on its international transfer service, with the applicable pricing and exchange-rate information shown before a transfer is confirmed.

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2. Wise: International Transfers and Multi-Currency Money

Wise is one of the most established international money transfer services available to Australians.

The service uses the mid-market exchange rate and charges a separate transfer fee that is shown before the transaction. Its app also supports holding and managing multiple currencies.

Wise can be useful for people who:

• Send money internationally regularly
• Want upfront pricing
• Need to hold multiple currencies
• Receive money from overseas
• Travel internationally
• Want access to currency accounts alongside transfers

Transfer speeds vary by currency and payment method. Wise says some transfers can arrive in seconds, while others can take longer depending on the currency, verification and local payout systems.

Worth checking: the actual fee and amount received for your specific currency pair before sending.

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3. OFX: Larger International Transfers

OFX is an Australian-founded international money transfer provider that caters particularly well to people and businesses making larger international payments.

Its Australian service supports transfers to more than 170 countries and more than 50 currencies. OFX also offers customised rates for high-value and corporate customers.

OFX can be useful when you are:

• Transferring a large amount
• Buying or selling property overseas
• Moving money after relocating
• Paying overseas suppliers
• Making regular international payments
• Managing business transfers

OFX also provides access to currency specialists and 24/7 support.

For personal transfers under AUD $10,000, OFX currently lists a flat AUD $15 transfer fee, while transfers above that threshold are generally fee-free, although other charges can apply depending on the transaction.

Because OFX pricing and rates can change, check the live quote rather than relying on an example published elsewhere.

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4. Remitly: Sending Money to Family Overseas

Remitly focuses heavily on international remittances, making it relevant to people who regularly send money to family and friends in other countries.

The service supports different delivery methods depending on the destination, including bank deposits, cash pickup and mobile wallet options in supported markets.

Its current Australian service is also designed around providing delivery estimates before you send money.

Remitly can be useful if you:

• Regularly send money to family overseas
• Need cash pickup
• Want different delivery options
• Need to send to particular remittance corridors

The available payout methods, fees and delivery times vary by country and transaction, so check the quote for your destination before sending.

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5. Western Union: Cash Pickup and Global Reach

Western Union is one of the longest-established names in international money transfers.

One of its major differences from app-only transfer services is its extensive physical agent network.

This means recipients in supported countries may be able to collect money in cash rather than receiving it directly into a bank account.

Western Union can therefore be useful when:

• The recipient needs cash
• The recipient doesn't have a suitable bank account
• You need a physical pickup option
• You're sending money to a destination where cash pickup is convenient

The trade-off is that the total cost of a transfer can depend on the payment and delivery method, exchange rate and destination.

Always compare the amount the recipient receives rather than looking only at the advertised transfer fee.

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6. Xe Money Transfer: Transfers and Currency Tools

Xe is another established international money transfer service available to Australians.

Alongside money transfers, Xe provides currency conversion and exchange-rate information, which can be useful if you regularly monitor currency movements.

An app like Xe can be useful if you:

• Send money internationally
• Monitor exchange rates
• Need currency conversion tools
• Make transfers across different currency pairs

As with other providers, the available currencies, fees and delivery times vary depending on the transaction.

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What Should You Look for in a Money Transfer App?

Before downloading an app and making a transfer, look beyond the app's headline claims.

1. Exchange Rate

The exchange rate determines how much foreign currency your recipient receives.

A provider may advertise a low or zero transfer fee while applying a margin to its exchange rate.

For this reason, comparing the exchange rate is just as important as comparing the transfer fee.

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2. Transfer Fees

Some providers charge a fixed fee.

Others charge a percentage of the transfer, while some offer fee-free transfers under certain conditions.

Don't assume that an app with a $0 transfer fee is automatically cheaper.

Instead, compare the complete transaction.

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3. Final Amount Received

This is arguably the most useful number when comparing providers.

For example, suppose you want to send: AUD $1,000

Rather than asking only: “Which app has the lowest fee?”, ask: “How many dollars, pounds, naira, cedis or other local currency will my recipient receive?”

That figure takes both fees and exchange rates into account.

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4. Transfer Speed

Transfer times can range from seconds or minutes to several business days.

The speed can depend on:

• Currency
• Destination
• Payment method
• Recipient's bank
• Verification requirements
• Local banking systems
• Weekends and holidays

Some providers provide an estimated delivery time before you confirm the transaction.

Check this estimate if the transfer is time-sensitive.

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5. Supported Countries and Currencies

Not every money transfer app supports every country.

Before creating an account, check that the app supports:

• Your sending country
• Your destination country
• Your sending currency
• Your recipient's currency

This is particularly important if you're sending money to less commonly supported corridors.

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6. Recipient Options

Consider how the recipient wants to receive the money.

Depending on the destination, options may include:

• Bank account
• Mobile wallet
• Cash pickup
• Digital wallet
• Other local payout methods

If your recipient needs cash, an app that only supports bank deposits may not be suitable.

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7. Transfer Limits

Transfer limits can vary depending on:

• Provider
• Account verification
• Payment method
• Destination
• Transaction size
• Regulatory requirements

If you're sending a large amount, check the limits before starting the transfer.

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8. Regulation and Security

Money transfer apps handle financial information and funds, so regulation and security matter.

In Australia, check whether the provider is appropriately registered or licensed for the services it provides.

For example, Pesa's is registered with AUSTRAC as an Independent Remittance Dealer.

You should also look for security features such as:

• Identity verification
• Multi-factor authentication
• Fraud monitoring
• Secure payment processing
• Clear customer support channels

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Are Money Transfer Apps Cheaper Than Banks?

They can be, particularly for international transfers, but you shouldn't assume every app will be cheaper for every transaction.

Traditional banks can charge international transfer fees and may apply an exchange-rate margin. Comparison of Australian banks, for example, shows that banks can combine transfer fees with exchange rate differences and, in some cases, intermediary or recipient-bank charges.

Specialist money transfer providers compete partly by offering different pricing structures and international payment networks.

But the most useful way to compare a bank with a money transfer app is still amount you pay, total fees, exchange rate and amount recipient receives.

A $0 transfer fee does not tell you the complete cost.

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Are Money Transfer Apps Safe?

Reputable money transfer apps use identity verification, transaction monitoring and other security controls to protect accounts and transfers.

However, using a legitimate app doesn't eliminate the risk of scams.

You should:

• Download apps from official app stores
• Check the provider's official website
• Never share passwords or security codes
• Confirm recipient details before sending
• Be cautious when someone pressures you to send money
• Keep your transaction confirmation
• Contact the provider if you notice suspicious activity

Also remember that a legitimate transfer service cannot necessarily reverse a transaction once money has been successfully delivered.

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Money Transfer Apps for Different Types of Transfers

Instead of looking for one app that works for everyone, consider what you're actually trying to do.

1: Sending money to family overseas

Look for:

• Low total cost
• Fast delivery
• Bank deposit
• Mobile money
• Cash pickup where required

2: Sending a large amount

Look for:

• Competitive exchange rates
• Large transfer limits
• Customised rates
• Human support
• Forward contracts or other FX tools where relevant

3: Managing multiple currencies

Look for:

• Multi-currency wallets
• Currency conversion
• Ability to hold balances
• International transfers
• Local receiving options

Wise and Pesa both offer multi-currency functionality alongside international transfers.

4: Sending and receiving money internationally

If you regularly move money in both directions, consider whether the app supports both sending and receiving rather than only one-way remittances.

Pesa's Australian service is designed around spending, sending, receiving and converting money across borders through one app.

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Pesa: An Option for Australians Moving Money Across Borders

Pesa is a digital financial platform available to customers in Australia that combines international transfers with multi-currency money management.

Its app allows users to send, receive, spend and convert money across borders, with multiple currency wallets available.

Pesa currently supports transfers to more than 40+ destinations from its service, including countries such as Nigeria, Ghana, Kenya, the UK, the US and countries in Europe.

For customers comparing transfer apps, some of the features to consider include:

1: Zero transfer fees

Pesa currently advertises zero transfer fees on its international transfer service. The applicable exchange rate and transaction information are shown before confirmation.

2: Multi-currency wallets

Instead of using the app only when you want to send money, you can use Pesa to hold and manage multiple currencies and convert between supported wallets.

3: Send and receive

Pesa is designed around money moving in both directions, rather than only sending money overseas.

4: Currency conversion

Pesa includes currency conversion within the app, allowing users to convert between supported currencies without having to use a separate currency-conversion service.

5: Australian registration

Pesa is registered with AUSTRAC as an Independent Remittance Dealer.

As with any transfer service, availability, rates, fees and delivery times can depend on the currency, destination and transaction. Read Pesa's Australian terms to understand factors including destination, currency, compliance checks, partner capabilities and local rules.

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How to Compare Money Transfer Apps Before You Send

Once you've narrowed down your options, use the same transaction to compare them.

For example, if you need to send AUD $1,000 to Nigeria, enter the same:

• Sending currency
• Sending amount
• Destination
• Recipient payout method

into each service. Then record:

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This gives you an apples to apples comparison.

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Frequently Asked Questions

1: What is the best money transfer app in Australia?

There isn't one app that is necessarily the best for every type of international transfer. Wise, OFX, Remitly, Western Union, Xe and Pesa each offer different combinations of transfer methods, currencies, pricing and recipient options. Compare the live quote for your particular destination and amount.

2: What is the cheapest money transfer app in Australia?

The cheapest service depends on the currency, destination, amount and exchange rate at the time of the transfer. Compare the final amount the recipient receives rather than looking only at the advertised transfer fee.

3: Are money transfer apps cheaper than Australian banks?

They can be, particularly for international transfers, but pricing varies. Compare the bank's exchange rate and all applicable fees against the complete quote from a money transfer app.

4: How quickly can money transfer apps send money overseas?

Delivery can range from seconds or minutes to several business days. The timing depends on the provider, currency, destination, payment method and recipient payout method.

5: Can I use a money transfer app to receive money from overseas?

Some apps support both sending and receiving international payments. If receiving money is important to you, check whether the service supports your currency, country and preferred receiving method.

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Final Thoughts

Money transfer apps have made it easier to send money overseas from Australia without relying entirely on traditional bank international transfers.

But comparing apps based on a single feature can be misleading. A provider with a low transfer fee may not have the best exchange rate, while an app with fast transfers may not support the destination or payout method you need.

Before sending money, compare the exchange rate, transfer fee, amount received, delivery time, supported currencies and recipient options for the exact transaction you're planning.