Orbitremit charges a flat fee as its transfer fees.
The fee is 4 AUD for those sending money from Australia, with an exception of zero fees to India. Similarly, sending money from New Zealand will cost you 4 NZD, but a little more of 6 NZD to the Philippines. For clients in the UK, the fee is 2 GBP to all the countries.
Orbitremit waives this flat fee for transfers exceeding $10,000.
Besides its low transfer fees, Orbitremit also offers an extremely competitive exchange rate, which is below 1% over the mid-market rate for major currency pairings like NZD/AUD, AUD/USD and so on. For the rest currencies, this rate rises slightly to a bit more than 1%.
Orbitremit’s delivery speed is excellent, at 1 to 3 business days overall.
For major currencies, you can expect to receive the money the same or the next day. Some NZ customers reflected that they can receive the money from the UK the same day.
One of its main advantages is, like other competitors, for example, currencyfair and TransferWise, the fees calculator presenting on its homepage, by which you can clearly see how much your recipient will get without even registering as its customer. Under its benefits menu, it indicates a 24 hours customer support a day either with the phone or live chat. However, it’s not always the case (24 hours), and you can hardly find the phone number which is +64 4 830 3656. There’s no live chat at all on web. The only way you can reach Orbitremit is to submit a ticket.
Sign up with Orbitremit is quite easy, just fill in an email address and a password, then select the account type, individual or business, and you are all set. But before you can send money overseas, you need to get verified, which requires a web camera to take a picture of your ID and a photo of yourself. The proof of address (electricity bill) is not needed.
Another feature of Orbitremit is its mobile app which has a high rate both on iOS and Android. You can start a conversation there, but you can’t always get an instant reply.