Sending money overseas? Experts say these providers are the cheapest
Announcement posted by Mozo 07 Mar 2024
THURSDAY 7 MARCH 2024: Today, leading financial comparison site Mozo.com.au is excited to announce the winners of the Mozo Experts Choice Awards for International Money Transfers 2024.
In an era of increasing global connectivity, international money transfers have become a fundamental aspect of everyday banking. For millions of overseas-born Australians, expats, freelancers and global suppliers, sending money overseas is not just a transaction but a lifeline that bridges distances and sustains connections.
Peter Marshall, Mozo Experts Choice Awards Judge, stresses the importance of finding the most competitive rates and lowest fees in today's 'higher-for-longer" interest rate environment.
"As the rising cost of living continues to put pressure on household budgets, consumers should be actively seeking out financial services with the lowest fees and rates available. This applies to both interest rates and exchange rates."
"Comparing rates and fees can be time-consuming, so Mozo experts have reviewed hundreds of quotes to find the best value providers in the money transfer market ."
Revolut and Wise took home accolades for the International Money Transfer award, reflecting their commitment to offering Australians the most favourable rates and fees. HSBC was also recognised as the bank offering the most affordable overseas money transfers.
As part of the award process, Mozo experts meticulously compared exchange rates and fees from 28 different companies to identify the providers offering Australians the best deals for transferring AUD to USD, GBP, and EUR.
Reflecting on the significance of these long-running awards, Marshall emphasises that "the Mozo Experts Choice Awards winners are chosen independently, without consideration of existing commercial relationships."
"Australians can trust the winners of these awards genuinely offer the best value in the market."
MOZO EXPERTS CHOICE AWARD WINNERS 2024
International Money Transfer
International Money Transfer - Bank
-ENDS-
About the Mozo Experts Choice Awards
The Mozo Experts Choice Awards were established in 2014 to help Australian consumers find the best value offers across a range of products and services. For the 2024 International Money Transfer Awards, Mozo's experts analysed 28 International Money Transfer Services.
Mozo aims to include most international money transfer providers in the market, however not every product on the market was included in the review. Access the full winners list and research methodology here.
For more information about the Mozo Experts Choice Awards, reach out to our partnerships team at account.management@mozo.com.au.
About Mozo.com.au
Mozo compares more than 1,800 products from over 200 banking, insurance, energy, and broadband providers to help thousands of Australians make their money count for more.
Mozo has been recognised in Australia for simplifying the money maze by challenging traditional institutions and building award-winning comparison tools and calculators.
As a leading financial comparison site in Australia, Mozo's team of banking and finance experts regularly provides research and advice for major publications in Australia. Mozo is part of Future PLC, an international media group, and leading digital publisher of titles including TechRadar and Tom's Guide.
Media Contact
Rachel Wastell
rachel.wastell@mozo.com.au
p: (02) 9161 2853 m: +61 412 686 458