MEDIA RELEASE
Send more, pay less: Experts reveal the best providers for overseas money transfers in 2025
CurrencyFair, Remitly, Wise, Xe and HSBC named the best value overseas money transfer services after experts review 504 quotes from 28 providers.
6 March 2025
Today, Mozo is thrilled to announce the best overseas money transfer services in Australia, as part of the Mozo Experts Choice Awards 2025.
Mozo experts analysed 504 quotes from 28 international money transfer services to find out which providers offer Aussie consumers the best value when sending money overseas in USD, GBP and EUR.
“With more Australians transferring money overseas, we want to make it easier for consumers to compare providers and ensure they’re getting the best deal,” says AJ Duncanson, Data Director and Mozo Experts Choice Awards Judge.
"Transfer services charge different percentage-based fees, while some also have flat fees. Our experts assessed all of the different exchange rates, margins and fees at the time of the analysis to calculate conversion amounts."
“This rigorous process was conducted using over 500 quotes to identify the providers offering the biggest potential savings.”
The Mozo experts compared quotes of $5,000 and $20,000 AUD, transferred into USD, GBP and EUR via 28 different international money transfer services, to find the industry leaders in value. CurrencyFair, Remitly, Wise and Xe were highlighted as the standout non-bank providers, and HSBC was awarded the sole winner of the bank category.
Mozo analysis reveals that on average Mozo winners could help Aussie consumers save up to 5.9% more than the most expensive provider on transfers of $5000 AUD.
Looking at a $5,000 AUD transfer, Mozo found that consumers could save $156 (USD), £160 (GBP) or €156 (EUR) by opting for a Mozo winner.
Identifying the winning brands
Everyday Mozo tracks hundreds of personal finance brands, and thousands of products, to find out which providers offer Australian consumers the best value .
The Mozo Experts Choice awards have been running since 2014, highlighting the standout brands and products across multiple finance categories.
"Our team has been identifying the top-value overseas money transfer services since 2016,” says Duncanson.
“With the Mozo Experts Choice Awards determined purely on merit, and not influenced by any commercial relationships, the winners list is one that Aussie consumers trust.”
International Money Transfer Winners
“Mozo analysis shows that when it comes to larger overseas money transfers, Aussie consumers could save hundreds of dollars by switching to a Mozo winner,” says Duncanson.
“The winning providers consistently offered some of the most competitive exchange rates and lowest fees, helping Australians get more from their international money transfers.”
HSBC Wins best International Money Transfer Bank
“For those who prefer to use a bank, our analysis found HSBC consistently offered some of the best exchange rates and lower fees compared to other major banks,” says Duncanson.
To see the full list of winners, and details on how the winners were chosen, you can read the methodology report here.