Explore International Money Transfers

SendFX provides Australian customers with:

  • fee-free transactions to over 200 countries
  • real-time updates on your transfer
  • same-day transfers
  • recurring transfer options
  • alerts when a rate hits your target

About SendFX

Beginning operations in 2019, SendFX is an Australian money transfer platform that provides international money transfer services across the world. Operating out of the Gold Coast in Queensland, SendFX seeks to provide an innovative and comprehensive range of financial services. SendFX offers competitive rates and a dedicated customer service team to support their clients.

How does SendFX’s money transfer service work?

Sending money internationally through SendFX is speedy and secure. International money transfers work by sending money electronically from your nominated account to a specified bank account in a country SendFX operates in.

When transferring money using SendFX’s website, it only takes a few minutes to create an account and get going.

  1. Create an account. You’ll need to sign up with SendFX before you can transfer any money. Doing so is free, though you’ll need to provide some identifying documents and personal details so you can be verified.
  2. Enter transfer details. Choose which currency you plan on sending, how much, and where it’s going. You’ll need to provide account details for where you wish the money to go. SendFX receives your funds, clears them and deposits them into the nominated account.

Be aware that third-party fees and charges may apply to your transaction. You can learn more by reading our helpful guide to sending money overseas.

Frequently asked questions

Is it safe to transfer money with SendFX?

SendFX employs high-level security systems on their transfers to help protect customers and their money.

Additionally, SendFX abides by Australian regulations concerning financial services and international money transfers.

SendFX is:

  • regulated by the Australian Securities and Investments Commission (ASIC);
  • registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC);
  • licensed with an Australian Financial Services Licence (AFSL); and
  • a member of the Australian Financial Complaints Authority (AFCA).
How much money can I send with SendFX?

SendFX does have a minimum amount required to transfer, but no maximum limit. Depending on the amount and the location of the accounts involved, however, there may be tax implications and costs to consider.

What payment methods does SendFX accept?

SendFX accepts electronic bank transfers, not physical cash or cryptocurrencies.

Do I have to pay any fees?

You do not have to pay any fees to SendFX, though you may be required to pay fees and charges to a third party (e.g. banks that receive your funds). This depends on where you have sent the money and how much money is being transferred.

How does SendFX make money?

SendFX makes their money from the difference between the market exchange rate (the real exchange rate between two currencies) and the trade price provided (what customers using SendFX will be able to use). SendFX ‘buys’ an exchange rate from a trading wholesaler, and then uses that to calculate their own rate. As exchange rates and currencies are always in flux, their profit margin will be unique to each transfer.

What types of transfers can you make with SendFX?

Customers transferring money with SendFX have a few options available to them:

  • Spot transfer. A spot transfer is a direct money transfer between two accounts for personal or business use.
  • Limit and stop orders. Limit and stop orders allow you to nominate two currencies to move money between and a specific rate that differs from the current, official exchange rate. Once the official rate rises or falls to your chosen rate, you can lock it in and commence the transfer.
  • Forward contract. If you want to make a transfer in the future, you can use a forward contract. You and SendFX will agree on a date (up to 12 months way), an exchange rate for the transfer, and the two currencies involved. You will need to pay a deposit in advance. From then on, you can continue to pay instalments or the full amount by the settlement date. If you fail to provide the funds, you may have to pay admin costs to SendFX.
  • Regular payments. SendFX allows you to establish regular payments over a 12 month period as either several forward contracts or personal transfers.
How long does a SendFX money transfer take?

Typically, an international money transfer with SendFX takes 24 hours to complete once they have received the money. Depending on where the money is being sent and when, there may be delays (such as holidays or weekends when banks may be closed).

Can I cancel my transfer?

If you establish a regular payment, you have the option of cancelling it by providing at least three days’ notice. If you wish to reverse or cancel another type of transfer, you will need to contact SendFX’s support team to resolve the matter. It’s recommended you contact them as soon as possible.

Compare international money transfers

Comparing international money transfer providers is a key part of your search for an excellent rate to make your money go further when sending it around the globe. You can compare SendFX with other providers that have partnered with Compare the Market using our free international money transfer comparison tool.

Our comparison tool makes it easy to compare rates, fees and available currencies between our partners side-by-side; all in one site. Simples!

$
Please enter a value greater than zero