Currency Online Review

Currency Online is an online money transfer industry that provides clients with the opportunity to obtain currency, make overseas payments, track those payments and manage their account 24/7.

Currency Online customers can maintain their accounts, pay bills, and even make money transfers, all online. Let’s address the upsides and downsides to selecting Currency Online for comprehensive money transfer services.

  • Currency Online offers cheaper fees better rates than other companies
  • Instant access to greater competitive exchange rates online so you can always see how your money converts
  • User-friendly even if you aren’t an expert
  • Timely delivery of all your payments and receipts worldwide
  • No amount limit placed on transfer money transaction, over $10,000 has no fee
  • You can log in 24 hours a day and seven days a week
  • Cannot offer money transfer services from clients located in the United States of America (USA), Japan, and residents of Quebec (Canada).
  • Online has no control over bank charges levied or deducted by paying banks in delivering beneficiary.
  • Transfer fees differ by the method used -online and phone.

How It Works

Currency Online provides more services including online money transfers to clients. With Currency Online, money can be in one country one minute and then with the click of a mouse can be in someone else's account across the world.


As its name implies, an interested client can get registered via online, as indicated on their website dashboard. Registration is free of charge, whereas account opening is optional. Your country of origin is important, and information you need to submit may vary depending on your geographical location.

How Safe Is It?

Currency Online offers safe money services, all information is held in a highly-secure, fully resilient data centre that is monitored 24/7 for problems. The company maintains a VeriSign secured site and uses a VeriSign SSL Certification for keeping internet communications secure.

How Much Does It Cost?

Unlike many other foreign currency exchange companies, Currency Online Limited is in charge of their fees and guarantee you will not experience any hidden costs added to your transactions or services.


With their One Free Disbursement initiatives, all clients receive their first transfer free, with transfers above $10,000 currency equivalent fee-free.


If your sold currency is higher than the amount listed ($10,000), you will not be charged a fee by Currency Online. However, if you are transacting an amount that is smaller than the amount listed, the amount varies based on the money total you send.


What Exchange Rate Will I Get?

Currency Online Limited don't operate on a fixed exchange rate as the prices fluctuate every day. They promise exceptional exchange rates. As we mentioned, there is a 'Rate Alerts by email' online tool provided the Currency Online team, so you can track your most favourable rates.

How Do I Send or Receive Money from Overseas?

Before we can discuss the service, this one is a bit different than other options because it is focused fully on online money transfer. This type of transfer occurs when a bank customer wants to send money to another country through their bank. A bank provides this procedure which allows customers to send money to a country that has a branch of that particular bank.


The transfer will also be converted to whatever currency used in the other country. Banks also provide messages and updates about the procedure allowing the customer to know where the money is throughout the process.

How Do I Pay?

With Currency Online Platform, clients can manage and transfer money anytime, anywhere. Anyone with a computer can transfer money online with this service. The basic process is as follows:


  • Get a quote for the money transfer and current exchange rate
  • Lock in your quoted rate
  • Send money from one account to another with Currency online


If a user does not have access to the internet, they can often also call a service number to transfer the money.


Can I Pay by Credit Card?

You cannot pay by credit card for this service.

What Currencies Can I Transfer?

Some of the currencies available for transfer are:


  • Australian Dollar (AUD)
  • Canadian Dollars (CAD)
  • Euro (EUR)
  • Great British Pounds (GBP)
  • Japanese Yen (JPY)
  • New Zealand Dollars (NZD)
  • United States Dollars (USD)
  • Swiss Francs (CHF),
  • Czech Republic Koruna (CZK),
  • Danish Krone (DKK),
  • Fijian Dollars (FJD),
  • Hong Kong Dollars (HKD),
  • Hungarian Forint (HUF),
  • Mexican Peso (MXN),
  • Norwegian Krone (NOK),
  • Philippine Peso (PHP),
  • Polish Zloty (PLN),
  • Swedish Krona (SEK),
  • Singapore Dollars (SGD),
  • Thai Baht (THB),
  • South African Rand (ZAR)


Currency Online is a decent tool if you want to conduct foreign transactions and money transfers. In some cases, people send money back and forth at the best rates just to make a profit or run their business more effectively. Transfer cash quickly with Currency Online, a service we recommend, especially to Australians, looking to conduct straightforward money transfers.

What Services Do They Offer for Businesses?

Formerly known as Eldridge Lynch & Associates Ltd, Currency Online limited was founded in 1986 mostly to serve the foreign exchange needs to the automotive industry in New Zealand.


HiFX Group, in October 2008, bought the company. While the HiFX Group was in turn acquired by Euronet Worldwide Inc, in May 2014.


The acquisitions nevertheless have ensured that Currency Online Limited continues to deliver a highly credible service to its clients along with an improved capability to generate new features and benefits in the coming years.


Currently, the online platform provides a wide range of products including the following:


Spot Contract – Immediate Money Transfers

The Currency Online spot contract is used for immediate money transfers and is the most popular method of transferring funds.

  • Competitive, comparable prices
  • Currency exchange rates updated every 5 seconds
  • Over 25 currencies offered
  • Payment in 1-3 business days


Forward Contract

The forward contract of Currency Online allows you to agree on the current market rate for payment in the future and is useful for protecting you from adverse market movements. Particularly useful if you want to lock in a favourable rate, but don't have the funds available to pay for the contract immediately.


All forward contracts are subject to a minimum amount and payment of an initial margin to secure the obligation. Variation margin may be requested if significant adverse market movements occur during the term of the contract.


  • Forward contracts in 15 currencies
  • Real-time competitive forward rates
  • One week to six months
  • Ability to pre-deliver or extend forward contracts


Market Orders

Customers can place a Market Order to target a predetermined rate that you would like to achieve, and we'll monitor it for you. Market Orders allow customers to target a rate they wish to transact at that is either better than the current market rate to capture positive movements or worse than the current market rate to protect against adverse transactions or exchanges. Market Orders are free to use.


Currency Online platform allows you to place, modify, and cancel Market Orders. Clients can also view the savings or cost differences between the current market rate and order rates. Orders offered include limit and stops and OCO's (One Cancels the Other).


Take the stress out of watching the market rate fluctuate and let the Currency Online team monitor it for you automatically. Orders remain live until you cancel.


Manage Beneficiary Details

Customers can add the bank accounts you wish to send funds to (beneficiaries). Specify payments straight after purchasing currency or pay directly from your currency account.


  • Add beneficiary details online (these are saved for future disbursements)
  • View full history of payments to each beneficiary
  • Automatically notify beneficiary payment is on its way by adding their email address
  • Standard format for each currency reduces bank charges


Access Account History

Your full account history is available online for your lifetime transfer activity with Currency Online. This is useful because you can search and use features like this:


  • Lifetime account history
  • Sort by currency, date, beneficiary or reference
  • Grant view-only access to your accountant


Market information

Access the latest market information, all in one place. Currency Online keeps you in touch with the world's dynamic currency markets.


  • Daily commentaries online
  • Email roundups sent to your inbox
  • Exchange rate graphs 24 hours, 30 days, 12 months and ten years
  • Twitter updates for the latest market information, as it happens
  • Rate Alerts via our online platform
  • Download the iPhone app for convenience


Multiple Payments

Currency Online's payment platform allows you to pay multiple recipients within the one transaction or from your money held on account. This ensures you enjoy the most efficient process possible when you need to pay more than one person or supplier.

Compare money transfer services like Currency Online

The best deal for you

TransferwiseRead ReviewTotal (AUD)$13,810.95Exchange Rate0.7274Transfer Fees$63.36Transfer Time1-2 DaysLearn MoreTotal (AUD)$13,810.95Rate Updated 11:51PM 15/11/2018GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7274 will cost you $13,810.95 which includes a fee of $63.36

About TransferWise

Transparency and an easy online experience are the 2 things that set TransferWise apart from the banks and other money transfer companies. If you prefer to bank online, you'll like TransferWise. Setting up an account and making a transfer is very easy. They are also very clear on the exchange rate and fees you'll pay before you make a transfer. Click here for the full review


  • Clear and transparent exchange rates fees
  • The online experience is first class
  • Like the banks, they are regulated by ASIC and registered with AFSL
  • Constantly bringing out new innovative products


  • There are currently a number of global currencies they do not currently support
  • Limited support based in Australia
  • Percentage based fee can add up on very large transfers

More trusted money transfer options

Provider Exchange Rate Transfer Fees Transfer TimeTotal (AUD) Rate Updated 11:51PM 15/11/2018
TorFXRead ReviewTotal (AUD)$13,816.68$5.73 more expensive Exchange Rate0.7238 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $13,816.68$5.73 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7238 will cost you $13,816.68 with no fees.

About TorFX

TorFX are particularly good taking care of customers over the phone but using their website isn't the easiest to use. They don't charge a flat fee which is great but it's important to consider their exchange rates. While, they don't offer fantastic rates for small amounts under $2000 , TorFX offer exceptionally good exchange rates for larger transfers to the UK, New Zealand, South Africa and Europe.


  • No transfer fees
  • Highly competitive exchange rates
  • Secure transfers with authorised
  • Assigned account manager
  • 24 / 7 Assistance
  • Available range of transfer options


  • Limited exotic currencies available
  • Exchange rates on small transfers aren't great
  • Website experience could be better
XERead ReviewTotal (AUD)$13,827.80$16.85 more expensive Exchange Rate0.7232 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $13,827.80$16.85 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7232 will cost you $13,827.80 with no fees.

About XE

XE is a well known and trusted name in the money transfer industry. With over twenty years experience, they now help 33,000 people and 2,000 businesses make transfers each year. Over 60 currencies can be transferred with XE and they pride themselves on the free tools and transparent rates they offer. Click here to read the full review


  • Well known and trusted brand.
  • Very informative website. Extensive information on currency and money transfers.
  • XE App is available on both iOS and Android. It allows you to see the interbank rate for over 100 currencies.
  • XE themselves charge no fees for international money transfers.
  • Offers support for both individuals and businesses when it comes to international money transfers.


  • Cannot pay via cash or cheque. Must pay via bank transfer, BPay is also accepted in Australia.
  • Maximum transfer amount is $500,000USD.
  • While XE compares more than 100 currencies, there are only 60 that are available for money transfers.
WorldFirstRead ReviewTotal (AUD)$13,830.58$19.63 more expensive Exchange Rate0.7230 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $13,830.58$19.63 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7230 will cost you $13,830.58 with no fees.

About World First

World First was founded in 2004 in the UK and has grown rapidly with offices now in the U.S., Canada and throughout Asia. They consistently receive strong customer reviews and in a recent study, 98% of their clients said they would use them again.World First have a strong online offering, particular for businesses selling online. They do provide local support as well with offices in Sydney. Click here to read the full review


  • Low fees and great exchange rates
  • Safe and secure transfers
  • Regulated by ASIC and registered with AFSL
  • Great for personal and business payments


  • Does not accept BPAY, credit card, cheque or cash
  • Limited currencies available
HIFXRead ReviewTotal (AUD)$13,830.58$19.63 more expensive Exchange Rate0.7230 Transfer Fees$0.00 Transfer Time2-3 DaysGet discounted rate $13,830.58$19.63 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7230 will cost you $13,830.58 with no fees.

About HiFX

HiFX are one of the biggest money transfer companies in the world. Their parent company Euronet is listed on the NASDAQ and recently acquired They are particularly useful for individuals doing regular transfers overseas. HiFX provide competitive exchange rates no matter how much is being transacted. Their $50 minimum transaction size and flat fee makes them a great option for any international payment. Locally, HiFX have Australian offices in Sydney, Melbourne and are expanding to the remaining capital cities. Click here to read the full review


  • Fantastic bank - beating exchange rates
  • Low fees for transactions less than $10, 000
  • No fees for transactions of $10, 000 or more
  • High security transfers regulated by ASIC and FMA
  • Fast and easy for personal or business accounts


  • Only electronic bank transfers accepted
  • Limited exotic currencies
WorldRemitRead ReviewTotal (AUD)$13,864.77$53.82 more expensive Exchange Rate0.7215 Transfer Fees$3.99 Transfer Time1-2 DaysGet discounted rate $13,864.77$53.82 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7215 will cost you $13,864.77 which includes a fee of $3.99

About WorldRemit

WorldRemit are particularly good for transfers under $10,000 to destinations across Asia, Africa and South America. Sending money online is significantly easier than using companies like Western Union or Moneygram and their exchange rates and fees are clear and transparent. With 2 million users, WorldRemit has a focus on improving access to remittances for the billions people worldwide who don’t have access to banking. Because of this, WorldRemit has a number of ways to both make and receive transfers. They concentrate on servicing individual needs as opposed to businesses. Click here for the full review


  • They have a great network in Asia and Africa and number of receiving options like cash-pick up or bank transfer.
  • They are clear about their exchange rates and fees
  • No minimum amount


  • Maximum transfer sizes for every transfer
  • No support for business customers
  • They are not licensed to provide financial advice.
OFXRead ReviewTotal (AUD)$13,935.34$124.39 more expensive Exchange Rate0.7176 Transfer Fees$0.00 Transfer Time1-3 DaysGet discounted rate $13,935.34$124.39 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7176 will cost you $13,935.34 with no fees.

About OFX

OFX (formally known as Ozforex) is the largest Australian owned money transfer company. It launched in 1998 and grew rapidly until finally listing on the Australian Stock Exchange in 2013. OFX excels in 2 areas – Online experience and customer service. The company was born online and continues to develop easy, intuitive products. While OFX customers do most of their transactions online, they are backed up with exceptional customer service.


  • Better exchange rates compared to banks
  • Highly safe and secure transfers
  • 1 - 2 days delivery times for most countries
  • Quick response time
  • Fantastic customer service


  • Credit cards, cheques and cash are not accepted
  • Transfers to Thailand can take up to 4 days
  • Fees for transfers smaller transfers
ANZRead ReviewTotal (AUD)$14,226.77$415.82 more expensive Exchange Rate0.7029 Transfer Fees$0.00 Transfer Time1-2 DaysGet discounted rate $14,226.77$415.82 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.7029 will cost you $14,226.77 with no fees.
ANZ International Money Transfer is a secure and fast way to transfer money overseas.


  • Fast transfers
  • Safe and secure
  • No fee for transfers under $10 000 via Internet banking


  • $12 fee for transfers under $10 000 via Internet banking
  • Poor exchange rates
  • 24 hour hotline not available
Commonwealth BankRead ReviewTotal (AUD)$14,498.46$687.51 more expensive Exchange Rate0.6903 Transfer Fees$12.00 Transfer Time1-2 DaysGet discounted rate $14,498.46$687.51 more expensive GET THIS DEAL
So, sending USD 10,000 to United States at an exchange rate of 0.6903 will cost you $14,498.46 which includes a fee of $12.00
Commonwealth Bank provides secure and easy transfers to over 200 countries and more than 30 currencies.


  • Fast transfers+ Easy transfers
  • Security guarantee covers any losses from unauthorised transactions


  • $6 fee for transfers under $1000 via Internet banking
  • $12 fee for transfers under $1000 via Internet banking
  • Poor exchange rates