Airwallex alternatives

Compare the best Airwallex alternatives for Australians.

By   |   Verified by David Boyd   |   Updated 22 Dec 2022

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Comparing Airwallex alternatives

Wise Money Transfer

On website

Minimum Transfer Amount

$1.00

Transfer Speed

1 - 2 days

Transfer Fee

$0.00

Highlights

  • Access to a multi-currency digital wallet. Hold and transact in 50+ currencies.
  • FX-optimised debit card attached to your Wise Borderless account to withdraw or pay for purchases in foreign currency within or outside Australia.
  • Loads of options to fund your Wise account, including transfers from debit and credit cards, POLi, and bank transfer.

Pros

  • Low and competitive fees.
  • Easy to understand fee structure.
  • Easy to use website and mobile apps.
  • High transfer limit.

Cons

  • Limited currencies and destination countries compared with some competitors.
  • Can only send funds to the recipient's bank account.
Send

On website

Minimum Transfer Amount

$200.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Better exchange rates than most banks, quicker transfer times, and fee-free transactions.
  • Real-time payments available 24/7 in 37 different currencies.
  • Dedicated account managers for business users.

Pros

  • No transfer transaction fee and no account-keeping fees.
  • Competitive foreign exchange margin compared to banks.
  • Wide range of currencies and destination countries.
  • Suitable for businesses as well as individuals.

Cons

  • Bank account is the only delivery method.
  • Minimum transfer amount of $250.
  • Limited funding methods.
Remitly

On website

Minimum Transfer Amount

$10.00

Transfer Speed

Within an hour

Transfer Fee

$4.00

Highlights

  • Most recipients receive funds within minutes of them being sent from Australia.
  • Choice of delivery options, including cash delivery to the recipient's address and cash pickup.
  • Competitive exchange rates and fees.

Pros

  • Low transaction fees.
  • Plenty of delivery options.
  • Wide global network, covering 50+ currencies and countries.
  • Highly rated customer support.

Cons

  • Fees apply when you fund your account using a credit card.
  • Transfer limits apply.
torfx

On website

Minimum Transfer Amount

$200.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Competitive exchange rates improve the more money you transfer.
  • Get a personal account manager to help with every aspect of your transfer and monitor currency markets on your behalf.
  • No hidden fees, although they add a margin on the transfer.

Pros

  • No transfer fee.
  • Competitive exchange rates.
  • Wide range of currencies and destination countries.
  • Phone and email support are available.

Cons

  • Minimum transfer amount is $200.
  • Only accepts bank transfers.
  • Transactions under $2,000 can be expensive.
Revolut

On website

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$0.00

Highlights

  • No transaction fees for money transfers unless you have a Standard account and exceed the $9,000 monthly foreign exchange limit.
  • Top-up and hold account balances in various currencies. Switch currencies with a competitive exchange rate.
  • No monthly fees when you open a standard account and get extra features beyond money transfers.

Pros

  • The standard account has no monthly fees.
  • Top-up and hold account balances in various currencies.
  • Lots of different additional features are available, such as crypto trading and disposable virtual cards.
  • Has a well-designed mobile app.

Cons

  • Monthly fees apply to certain types of accounts.
  • You may experience delays when sending money internationally.
Xe Money Transfer

On website

Minimum Transfer Amount

$0.00

Transfer Speed

Real-time

Transfer Fee

$0.00

Highlights

  • Send 130+ currencies to 220+ countries and territories.
  • Works well for large amounts of bank-to-bank transfers as well as personal and business transactions.
  • Deposit funds to your Xe account with a bank transfer, credit card, or debit card.

Pros

  • No transfer fee.
  • No minimum transfer amount is required.
  • No transfer limit.
  • Good customer support.

Cons

  • Limited currencies.
  • Bank transfers only.
OFX Money Transfer

Minimum Transfer Amount

$250.00

Transfer Speed

1 - 2 days

Transfer Fee

$15.00

Highlights

  • Easy-to-understand fee structure based on a flat fee for transfers under $10,000. Transfers over $10,000 are fee-free.
  • Supports a wide range of currencies and countries with no maximum transfer amount for most currencies.
  • Additional functinoality for businesses, making OFX a good option for online sellers, importers, and companies with overseas employees.

Pros

  • Easy and quick account opening.
  • Wide range of supported currencies and countries.
  • No fees if transferring more than $10,000.
  • Enjoy additional features for business transfers.

Cons

  • Limited payment options.
  • $15 fee if transferring less than $10,000.
PayPal

Minimum Transfer Amount

$1.00

Transfer Speed

Real-time

Transfer Fee

$0.00

Highlights

  • Linking accounts is straightforward. Adding your bank account or credit card is simple and fast.
  • Free transfers of Australian dollars within Australia, as long as you don't pay with a credit card.
  • Due to its popularity, recipients may already have an account, making transfers faster.

Pros

  • User-friendly interface.
  • A convenient and secured way of transferring money.
  • Has a large number of existing users and is widely accepted.
  • Free transfers of Australian dollars within Australia.

Cons

  • International transfers can be extremely expensive. 
  • Business account fees apply.
WorldRemit

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$1.00

Highlights

  • Low transfer fees, mainly in the range of $1 to $4 per transaction.
  • Plenty of payment options, including POLi, bank transfer, debit card, credit card, prepaid card, Apple Pay, and Google Pay.
  • Choose from its wide range of delivery options, including cash pickups, bank transfers, and Airtime mobile phone top-up.

Pros

  • Low transfer fees.
  • No minimum transfer amount is required.
  • Multiple payment options.
  • Cash pick-up, cash delivery, and Airtime mobile phone top-up are available.

Cons

  • Transaction limit of $5,000 for some payment methods.
  • Fees depend on the method and currency you choose.