TransferWise Money Transfer & Exchange Rates

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Transferwise is a peer to peer money transfer platform that provides members the ability to transfer money locally or internationally.

 If you want to transfer your AUD to the US, TransferWise locates other members who are looking to transfer USD to AUD and match you up. TransferWise use the real exchange rate, commonly known as the mid-market rate at the time of your transfer, which means the funds are kept local, so you avoid paying international bank fees.  

TransferWise is somewhat different to other international money transfer businesses. The main purpose is to provide their members with a platform to send money overseas at the lowest rate possible. They use what’s known as the interbank rate, which is essentially the midpoint (buy and sell rate) within the global currency markets. You are then charged a small fee.  



Transfer Limits

There is no minimum transfer amount when using TransferWise. The transfer limit will depend on the currency you’re looking to transfer your Australian dollars to. If you are converting an international currency to AUD, the maximum amount is $1,500,000.

Transfer Time

It typically takes no more than 1 day for your funds to reach TransferWise. Your designated recipient should receive your funds within a 3 business days.

Transfer Fees

If you are transferring less than $10,000, you will pay 0.7% per transfer (with a $2 AUD transfer fee). For transfers in excess of $10,000 the fee is 0.5%.


How a transfer can be made:


It’s purely an online service, that accepts payments via bank transfer, POLi and Apple Pay via the app. You cannot send out cash or cheques and your identity must be verified prior to exchanging with TransferWise. You will need to make sure your account details in your profile match your bank account and ID documents upon request during the registration process.

Once registered, specify how much and the destination of the payment. You’ll then need to upload your money to TransferWise via debit card or EFT. Your funds are then converted at the mid-market rate and you are matched with another member sending funds to your location. Once your funds are sent, you’ll receive a notification delivery.



  • Very low fees
  • No minimum transfer amount
  • High online encryption security service
  • Versatile online payment options


  • Limited alternative forex services


TransferWise was founded by two friends that lived in separate locations and were frequently transferring money back and forth but paying hidden bank charges. They realised They subsequently used a mid-market platform on Reuters to overcome this and the epiphany of TransferWise was born.

What are you waiting for?

If you need to make an internation payment, look no further. Join the 111,000+ clients around the world who are benefitting from our services.