Outstanding Value: WorldFirst
Transferring money overseas is a multi-billion dollar industry and for those who are transferring their hard-earned funds, finding an international money transfer provider that represents outstanding value is a must. In 2017 Canstar has researched and rated 19 overseas money transfer providers, with WorldFirst achieving a 5-Star rating.
Who is WorldFirst
WorldFirst is a market-leading, award-winning, rapidly-growing international FinTech business. It employs more than 600 people, across 6 international offices, in Sydney, London, Amsterdam, Austin, Singapore and Hong Kong. WorldFirst launched in 2004 (in the UK) and opened their Australian office in 2009. This year alone, they have added 48,000 new customers.
Experts in international currencies and money transfer, WorldFirst combines specialist knowledge of foreign exchange markets and technological innovation to help individuals and businesses manage cross-border currency payments quickly, securely and transparently.
A specialist alternative to traditional banks’ generalist approach, WorldFirst has successfully exchanged more than AU$80 billion for over 100,000 individuals and businesses since 2004.
Starting with only 4 people, the Australian office has grown into a team of 45. Based in the Sydney CBD, WorldFirst help Australian individuals, businesses and online retailers get a better deal on their international money transfers.
WorldFirst is regulated in Australia by the Australian Securities and Investments Commission. AFS Licence number 331945. Australian company number (ACN) 132 368 971. You can access the ASIC website here.
— World First AU (@World_First_Au) November 8, 2017
What international money transfer features are offered?
Canstar’s 2016 audit of the money transfer features offered by WorldFirst, conducted in August and September 2016, uncovered the following online money transfer features offered by WorldFirst:
- Zero fees
- Transfers available by the following means:
- Mobile App
- More than 100 Currencies available, including:
- US Dollar
- Hong Kong Dollar
- Great Britain Pound
- New Zealand Dollar
- Japanese Yen
- Singapore Dollar
- Indian Rupee
- Swiss Franc
- Transfer limits:
- Min – $2,000 ($1,000 for Phone transfer)
- Max – Unlimited
- Real-time exchange rates
- Telephone helpline
|TOTAL CURRENCIES AVAILABLE||100, including…|
|United Arab Emirates Dirham (AED)||Yes|
|Bangladesh Taka (BDT) available||Yes|
|Bahrain Dinar (BHD) available||Yes|
|Canadian Dollar (CAD) available||Yes|
|Swiss Franc (CHF) available||Yes|
|Chinese Yuan Renminbi (CNY) avail||Yes|
|Czech Republic Koruna (CZK) avail||Yes|
|Danish Krone (DKK) available||Yes|
|Euro (EUR) available||Yes|
|Fijian Dollar (FJD) available||Yes|
|British Pound Sterling (GBP) avail||Yes|
|Hong Kong Dollar (HKD) available||Yes|
|Croatia Kruna (HRK) available||Yes|
|Hungary Forint (HUF) available||Yes|
|Indonesian Rupiah (IDR) available||Yes|
|Israel Shekel (ILS) available||Yes|
|India Rupee (INR) available||Yes|
|Jordan Dinar (JOD) available||Yes|
|Japanese Yen (JPY) available||Yes|
|Kenya Shilling (KES) available||Yes|
|Kuwait Dinar (KWD) available||Yes|
|Sri Lanka Rupee (LKR) available||Yes|
|Malta Lira (MTL) available||Yes|
|Mauritius Reupee (MUR) available||Yes|
|Mexico Peso (MXN) available||Yes|
|Malaysian Ringgit (MYR) available||Yes|
|Norwegian Krone (NOK) available||Yes|
|New Zealand Dollar (NZD) available||Yes|
|Oman Omani Rial (OMR) available||Yes|
|Papua New Guinea Kina (PGK) avail||Yes|
|Philippine Peso (PHP) available||Yes|
|Pakistan Rupee (PKR) available||Yes|
|Poland Zloty (PLN) available||Yes|
|Qatar Rial (QAR) available||Yes|
|Swedish Krona (SEK) available||Yes|
|Singapore Dollar (SGD) available||Yes|
|Thailand Baht (THB) available||Yes|
|Tonga Paanga (TOP) available||Yes|
|Turkey Lira (TRY) available||Yes|
|US Dollar (USD) available||Yes|
|South Korea (WON) available||Yes|
|Samoa Tala (WST) available||Yes|
|South African Rand (ZAR) available||Yes|
|Source: Canstar. Audit was conducted in August & September 2016 with information advised by WorldFirst as being correct at that time. Please check current costs, features and offering on the WorldFirst website.|
WorldFirst Canstar 5-Star rating
In Canstar’s 2016 ratings, WorldFirst has received very high scores for both price and features.
Their exchange rates across the currencies measured by Canstar were highly competitive, with their averages rates being better than the RBA official rate (from Reuters at 4pm) for 7 of 9 currencies. With no fees and the largest selection of currencies available for transfer (>100) of the 19 institutions researched by Canstar, they are worth adding to your shopping list!
Hot tip: A little bit of homework goes a long way when it comes to exchange rates and transfer fees, so you should compare your shortlist of institutions before picking one. Every institution costs something, but you can make sure that more of your money goes where it should – to your recipient, not your institution.