WorldFirst alternatives

Compare the best WorldFirst alternatives for Australians.

By   |   Verified by David Boyd   |   Updated 22 Dec 2022

As seen on

Media - The Sydney Morning Herald
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Media - News.com.au
Media - Daily Mail Australia
Media - Australian Fintech
Media - Dynamic Business

Comparing WorldFirst alternatives

Wise Money Transfer

On website

Minimum Transfer Amount

$1.00

Transfer Speed

1 - 2 days

Transfer Fee

$0.00

Highlights

  • Best known for its multi-currency digital wallet. Hold 50+ currencies and purchase anywhere with a linked debit card.
  • Fund your account with debit cards, credit cards, POLi, and bank transfers.
  • Competitive mid-market exchange rate and no hidden fees.

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

  • Send and receive payments in 37 currencies at any time of day or night with competitive rates.
  • Business users are assigned a dedicated account manager to help set up transfers.
  • Aussie-owned and operated with offices in Queensland.

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

  • Recipients receive funds within minutes of being sent from Australia.
  • Flexible delivery options. Recipients can get money delivered to an address, bank account, or mobile phone, or pick it up from a convenient location.
  • Competitive exchange rates. Low and transparent 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

  • Set rate alerts and buy currency in advance to secure the rate you want.
  • Create recurring money transfers to pay suppliers, remote staff, mortgages, etc.
  • Access to an account manager, which every TorFX customer gets.

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

  • Send 27+ currencies. Spend like a local with a Revolut debit card.
  • No fees to transfer funds between Revolut friends.
  • Option to send crypto to recipients, if that's what they want.

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.
Airwallex Money Transfer

On website

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Aussie-owned. Made in Melbourne.
  • No international transfer transaction fee for most major currencies and a low $10 fee for other currencies.
  • Get favourable currency exchange rates, adding only a 0.3% or 0.6% margin to interbank exchange rates.

Pros

  • Create an account in just a few minutes.
  • No international transfer transaction fee.
  • Favourable currency exchange rates.
  • Quick transfers.

Cons

  • Limited transfer methods.
  • Fewer transfer currencies are available than some competing services.
Xe Money Transfer

On website

Minimum Transfer Amount

$0.00

Transfer Speed

Real-time

Transfer Fee

$0.00

Highlights

  • Lock in currency exchange rates with limit orders and forward contracts.
  • Send 130+ currencies from Australia to 220+ countries.
  • Fund transfers 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.
Western Union

Minimum Transfer Amount

$1.00

Transfer Speed

Real-time

Transfer Fee

$0.00

Highlights

  • An established and trusted international money transfer service company.
  • Recipients can pick up cash from a WU agent. Convenient locations in most countries.
  • Fund transfers with cash, card, or bank account.

Pros

  • Reputable company with plenty of physical branches around the world.
  • Lots of options for payment method and pick-up method.
  • Regulated by ASIC and FinCEN.
  • 24/7 customer service.

Cons

  • High fees compared to other money transfer services.
WorldRemit

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$1.00

Highlights

  • Most transfers have fees of approximately $1 to $4. Funds can be delivered within an hour.
  • Fund your transfer with bank transfer, POLi, debit card, credit card, prepaid card, Apple Pay, and Google Pay.
  • Choose from its wide range of delivery options, such as 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.
Instarem

On website

Instarem

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Transfer funds from Australia to 55+ countries with competitive and transparent fees.
  • Money transfers are typically completed instantly or same day.
  • Earn InstaPoints when you transfer money with Instarem.

Pros

  • Transfer fees are between 0.25% to 1%.
  • Earn loyalty points.
  • Dedicated customer support.
  • Mobile apps.

Cons

  • There is no cash pick-up option.