FlashFX international money transfers review

Send money overseas quickly and securely with FlashFX and pay no transaction fees.

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FlashFX exchange rates

FlashFX offers real-time exchange rate quotes on its website, so you’ll always know what exchange rate you’re being offered before deciding to book a transfer. FlashFX does charge a slight margin (or a commission) on top of the mid-market exchange rate, which is how the company makes a profit, however this margin is smaller than what the banks charge.

For example, FlashFX says the highest margin it charges is 1.80% on top of the mid-market exchange rate, while the standard margin is usually around 1.48%. In comparison, the banks can charge a margin over 5.00% on top of the mid-market rate.

How much does it cost to transfer money with FlashFX

FlashFX prides itself on being transparent – so rest assured there are no hidden charges. You won’t be charged any set up fees or transaction fees when sending money abroad using FlashFX. However, you will pay a margin, or a commission, on top of the mid-market bank rate as explained above. This margin will be clearly outlined when you seek a quote.

Minimum transfer amount and available currencies

The minimum transfer amount is PHP7,890 (AUD$200) for the majority of currencies. If you’re transferring money into EUR or USD, FlashFX will accept a minimum transaction of just PHP3,945 (AUD$100).

You’re able to send money in 18 major global currencies. Available currencies include:

  • AUD
  • AED
  • CAD
  • CHF
  • CNY
  • DKK
  • EUR
  • GBP
  • HKD
  • JPY
  • MXN
  • NOK
  • NZD
  • SEK
  • SGD
  • USD
  • THB
  • ZAR

What types of transfers can you carry out with FlashFX?

  • One-off payments. If you need to send a one-off payment to someone internationally, FlashFX can help you do this.
  • Regular payments. FlashFX can facilitate regular, recurring payments such as monthly rental payments or weekly transfers to family members who are based internationally.
  • Market orders. Set your desired exchange rate, and FlashFX will facilitate your transaction when that rate is reached. This is good for payments that aren’t urgent, as you can afford to wait for a better rate.

What payment options are available?

The only way to send money to FlashFX to fund your transfer is via a bank transfer. This must be made from an existing bank account that is registered in your name, and it will work in the same way as a regular bank transfer. FlashFX does not accept cash or cheques, or debit or credit cards as payment to fund your account. It will not accept third-party deposits either, made from someone else into your account. Flash FX does accept transfers made via Ripple wallets.

The registration and transfer process

  1. Sign up. Sign up for an account online using your email. You can do this by clicking the green “Go to Site” button.
  2. Verify your identity. You’ll need to upload some photo ID such as your driver’s licence, and something that includes your residential address such as a utility bill. FlashFX will open your account as soon as your details are verified.
  3. Fund your account. Send money to your FlashFX account via a bank transfer from your current bank account. You don’t need to book a transfer straight away, FlashFX will hold your money securely for you until you need to transfer it.
  4. Book your transfer. Tell FlashFX how much you need to send, to where and to whom. You’ll need to supply your recipient’s bank details.
  5. Track your transfer. You can track the progress of your transfer via the FlashFX dashboard. Some transfers will be done instantly.

Pros and Cons


  • No transaction fees
  • Clear, transparent pricing
  • Lightning fast transfers using the Ripple payment platform


  • Only 18 currencies supported currently
  • Will not accept debit or credit card payments to fund account

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