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The cheapest way to transfer money from Canada to Australia


Jan 10, 2023

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In 2021, the two-way merchandise trade between Canada and Australia remained stable at $4.5 billion. Bilateral services trade in 2021 was valued at about $2.1 billion. From there, it shows that the demand for transfer money from Canada to Australia is extremely high. So what is the cheapest way to transfer money from Canada to Australia? Follow the article below for more information.

The cheapest way to transfer money from Canada to Australia

The cheapest way to transfer money from Canada to Australia

CAD/AUD exchange rate trends

Like other currencies, the exchange rates of CAD (Canadian dollar) and AUD (Australian dollar) change over time due to changes in supply and demand.

This change will depend on the two economies of Canada and Australia. In addition, politics will also influence this ratio.

Right now 1 CAD = 1,1135.60 AUD (updated 11/9/2022)

Top 5 cheapest ways to transfer money from Canada to Australia


DNBC Financial Group is a financial institution operating in the international financial market, providing corporate and individual customers with an innovative digital banking system and convenient payment platform and transfer to receive money online easily worldwide.

Transaction limit

200,000 CAD/day for personal account

500,000 CAD/day for corporate account

Transfer fees : Depends on the fees of the correspondent banks involved

Transaction time

01-02 business days


Competitive cost in the market

Offers both SWIFT and Non-SWIFT

Transfer and receive from 170 countries

Full online banking experience

Provide 24/7 service.

How to transfer money overseas with DNBC

Login at

Select “Transfer to other bank via SWIFT” on “Remittance”.

Fill in transaction information:

Check information and confirm fees

Send payment order


TorFX was founded in 2004, based in Australia, and is trusted by many expats. TorFX provides money transfer services in Australia. Unlike other services, TorFX requires money transmitters to have a TorFX account.

Transfer fees: usually charge a flat fee for small amounts

Exchange Rate: TorFX adds a margin to the exchange rate when you convert your Australian dollars.

Minimum amount to transfer: AUD$250


Competitive rates save up to 5% compared to the rate at the bank.

There is free and continuously updated information on the foreign exchange market.

Fixed-rate for money transfer

No other fees are incurred.


OFX is a global company incorporated in Australia and headquartered in Sydney.

OFX provides international money transfer and receipt services worldwide in over 195 countries and territories. OFX’s money transfer service is suitable for large enterprises and import-export businesses needing to transfer money abroad.

How to transfer money with OFX

The method of transferring money from Canada to Australia at QFX is straightforward. First, you need to create a free online account. Then log in to your account to receive a quote for your transfer. Next, you must fill in the recipient details, including bank account, financial institution number, account number, and branch transit number. Finally, you need to complete the transaction by bank payment or transfer.

Using a global bank:


CitiBank has the lowest transaction fees you can refer to if you want to transact via the bank. Moreover, daily sizable international bank account transactions will not charge a fee. Therefore, for global commerce, holding Citi accounts is free and fast.


HSBC Premier customers can make instant transfers across their accounts with no transfer fees. You can send up to $200,000 per day. HSBC also has an Everyday Global account and Foreign Currency Flexi Saver where you can hold up to 10 currencies in one account.


ANZ is an Australian multinational banking and financial services company with headquarters in Melbourne. NZ serves approximately six million customers at more than 570 branches in Australia. ANZ has quite competitive exchange rates compared to banks. This is one of the banks you can consider when you want to transfer money from Canada to Australia.


Transferring money from Canada to Australia, in particular, and international money transfer, in general, is no longer so difficult. The above article can provide you with some cheap money transfer methods that work for you.

DNBC Financial Group is your trusted provider in international money transfer

  • Get 100% free 1-on-1 support
  • 100% free account opening
  • Seamless onboarding process
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Note: The content in this article is for general informative purposes only. You should conduct your own research or ask for specialist advice before making any financial decisions. All information in this article is current as of the date of publication, and DNBC Financial Group reserves the right to modify, add, or remove any information. We don’t provide any express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or currency of the content within this publication.