Came across this comparison of Australian foreign exchange providers. Well worth a perusal. Make sure you give the exchange rate comparison tool a go.
OFX ranks quite well and is said to be the easiest to set up, as well as being the only Australian owned foreign exchange specialist .
"OFX has a $10 fee for amounts under $10,000 but we used this link to ensure the first two transfers were fee free. While the exchange rate wasn't quite as good as TorFX, getting started was the easiest of all the companies we compared. It's also the only Australian company besides the banks that we compared. The downside is that since their rebrand, it's not easy to find the exchange rate you'll actually receive on their website."
The cost to transfer US$5,000 from Australia was $6,617.58. This was $313.36 less expensive than the most costly and $29.97 more than the cheapest - UK owned World First. The companies don't run in the same order of cost, but vary depending on destination and the size of the transfer. OFX seems to rate better the larger the amount to be transferred. What is glaring is the massive difference between the two groups ie specialist foreign exchange dealers versus the banks.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)