10 Best Money Transfer Services to Send Money Internationally

Suppose you need to transfer money abroad and are unsure how to do that. You may have questions about where to go, how much the international transfer will cost, or which money transfer service is the best.

If you have any questions, this comprehensive guide to international money transfers is exactly what you need.

Key takeaway

  • What is a money transfer?
  • 10 best money transfer services to send money internationally
  •  How To Send Money Internationally
  • Factor to consider before choosing a method to send internationally
money transfer services

What is a money transfer?

A money transfer is a method of moving funds from one bank account in one nation to another. Depending on the business providing the service, you may be able to do this over the phone, online, through an app, or even in person.

Even if neither the Recipient nor the Recipient’s firm has a bank account, a money transfer service can still allow you to send money worldwide to them. However, the fees associated with doing this are typically higher.

The money is initially converted from one currency to another before being transferred using currency transfer services.

10 best money transfer services to send money internationally

Using a licensed and regulated company is the safest way to send money internationally. Here is a list of the best money transfer services, which include the following.

1. WorldRemit

WorldRemit is a money transfer service that operates in 56 countries. You can send funds to the Recipient’s bank account, local pickup location, or even mobile wallet, which is used for the majority of WorldRemit transfers.

WorldRemit is based in the United Kingdom and has received mostly positive feedback. They take security very seriously and work hard to expedite transfers.


  • Fees and exchange rates: WorldRemit charges a transfer fee and marks up exchange rates to make a profit, but because they are online, their rates are lower than those of other services.
  • Transfer speed: Most transactions, particularly bank transfers, are completed within a few days.

2. Currencyfair

CurrencyFair is an International peer-to-peer money transfer service with a strong reputation that charges a modest percentage markup. CurrencyFair is a cost-effective money transfer service that allows you to send money overseas in just a few easy steps.


  • Fees and exchange rates

Exchange Rates: A foreign exchange spread of 0.5% to 0.6% over the mid-market rate is used by CurrencyFair. The company’s approach to currency exchange is far more open and less expensive than the typical fees charged by conventional banks.

There are often no further hidden fees with CurrencyFair, excluding a tiny fixed fee of €3 (or its currency equivalent) and cash advance fees if you use a credit card to pay for your transfer.

  • Transfer speed

Transfers made through CurrencyFair normally take 1-3 days to reach their beneficiaries.

3. Remitly

Another choice for sending money quickly abroad is Remitly, which provides both an express and an economy option. Money is transferred quickly using the expedited option. Bank transfers and in-person pickups are two methods you and your recipients can use to send and receive money (in some countries).

Within the first 180 days after starting the account, you are permitted to send up to $10,000, and once the account is established, you are allowed to contribute up to $60,000 in total.


Fee and exchange rates: Remitly charges an exchange rate markup plus a transfer fee, though their transfer fees are among the lowest in the industry.

Transfer speed: Remitly provides same-day transfers (within a few minutes) as well as economy transfers that can take up to 5 days.

4. Instarem

Instarem is a Singapore-based provider of digital payment solutions for markets all over the world. The organization is well-positioned to support a variety of payment types thanks to its customized services for personal and business clients, but it is only appropriate for customers transferring AUD, CAD, EUR, HKD, GBP, INR, MYR, SGD, and USD. The business is able to provide safe, certified transactions to more than 55 nations around the world through its quick and secure mobile platform.


  • Transfer Fees:

The fees that Instarem levies are determined by the amount you are sending and the country of origin. You will pay roughly 0.5% of the amount you are sending when sending money from, say, Australia or Hong Kong. However, you just pay a significantly smaller percentage cost of 0.25% when mailing from the UK or Hong Kong.

  • Exchange Rates:

Instarem makes use of the current interbank rate. This indicates that they don’t add a margin to their prices. You get exactly what you see.

  • Other Fees:

Instarem doesn’t impose any additional fees than the transfer fees. However, banks may impose fees that vary from $25 to $50 on both the sending and receiving ends.

  • Transfer speed:

Instarem, known for its lightning-fast transfers – far faster than any bank – enables customers to send money instantly online. However, depending on the currency pair, the destination country, and the method of payment, it can take up to 5 business days to transfer funds. Those who pay with a debit card receive the fastest service because the funds are available to Instarem almost instantly, allowing the transfer process to begin.

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5. Western Union

One of the earliest methods of sending money abroad is Western Union, which transfers money between approximately 200 nations. If you prefer to transfer money in person rather than online, Western Union has physical locations all around the world. They do, however, also provide that alternative.

The Recipient may pick up the funds at a Western Union location if one is present in the nation where you are sending the money. Although convenience comes at a higher price, there are situations when it’s justified.

When you need money sent internationally quickly, without the trouble of paperwork and without delays in receiving the money, Western Union is the ideal option.


  • Fee and Exchange Rates: The average rate varies between 1% and 6% depending on location, but transfers under $1,000 are frequently only a few dollars.
  • Transfer speed: Transfers can take up to one week for standard fees, but you can pay for faster processing.

You can learn more from the video below:

6. Transferwise

Transferwise is one of the most affordable international money transfer services. Transferwise believes in transparent pricing and does not charge markups. You will pay the same exchange rate as you would without the service.

Like any business, they must make a profit, but Transferwise’s fees are among the lowest in the industry. Fees are usually 1% of the amount transferred if you use a bank account, but you can also pay with a debit or credit card.


  • Rates: The company does, however, charge transfer fees, which vary depending on how quickly you want the money delivered, how much you are transferring, and which currencies you are using. These are typically in the form of a percentage of the amount being transferred and are in the range of 0.5%.
  • Transfer speed: Most transfers are instant (with debit or credit cards) or take up to three business days for bank transfers.

7. PayPal

The quickest method for sending money online and internationally is PayPal. You transfer money to your Recipient’s PayPal account using your PayPal account. Digital technology is used throughout the entire procedure. When you use PayPal to send money, you link your bank account, and the Recipient electronically transfers the money from PayPal to his or her bank account.


  • Fees and exchange Rates: Sending money to friends or family members who live abroad costs a tiny percentage of the transaction (up to 2%) when using PayPal.
  • Transfer speed: When you transfer money from a checking account to an existing PayPal account, the transfer is instant. However, the Recipient’s bank may take a few days to transfer the funds to their account.

8. Xoom

Xoom, a PayPal company, provides fast international money transfers, with recipients receiving funds in many cases within minutes. Because it is a PayPal company, you can send money using your PayPal, but the money must come from your bank account, and not your PayPal balance.

Xoom has various ‘ approval tiers,’ which determine how much you can transfer. With a fully verified account, you can send up to $50,000 right away. However, sending more than $10,000 in a single transfer causes the transfer to be delayed by a few days.


  • Fees and exchange Rates: When transferring money with a debit or credit card, Xoom levies steep fees but not when using a direct bank transfer.
  • Transfer speed: Although Xoom focuses on express transfers, large transfers could take longer.

9. MoneyGram

MoneyGram has over 300,000 locations in over 200 countries, making it simple to send money abroad. They don’t have the cheapest rates, but they do provide quick transfers in most cases, which is convenient if you’re in a hurry.

You are only limited to $10,000 transfers at a time and monthly, which can be challenging if you need to send larger sums abroad.


  • Fees and exchange Rates: MoneyGram charges a markup fee as well as a transfer fee for all transactions except bank transfers.
  • Transfer speed: MoneyGram guarantees quick transfers, sometimes on the same day, depending on the method of transfer you choose (bank transfers happen the fastest).

10. OFX

OFX is the most affordable way to send money internationally. They don’t charge any transfer fees, but there are exchange rate markups to be aware of. You must transfer at least $1,000, but there is no limit to the amount you can transfer.

You can also schedule one-time or recurring transfers. You must set up four recurring transfers to take advantage of the locked rates if you want to lock in a specific exchange rate. Transferring at least $30,000 entitles you to the ‘buy now, transfer later’ option, which allows you to lock in a low exchange rate for a future transfer.

  • Fees and exchange Rates: The markup rates are typically less than 1%, and there are no transfer fees.
  • Transfer speed: It could take up to 5 – 7 business days, depending on how long your bank takes to transfer funds to OFX and vice versa.

How To Send Money Internationally 

To send money to the United States, follow these steps:

  • Compare providers to get the best service for you

For your unique needs, choose the provider with the best transfer costs, exchange rates, payment options, transfer times, and more. Utilize this to locate a supplier that offers the best overall bargain for your transfer and supports transfers between the two currencies you require.

  • Register with the best-chosen provider

Your name, address, and contact details are typically all that is needed to sign up with the majority of providers. Most of the time, you’ll also need to provide a snapshot of a legitimate photo ID to prove your identification.

  • Start your transfer

Set up your transfer by entering your Recipient’s information (name, contact information, and bank account information if you choose this payout option), the amount you want to send, and your payment information. You should be provided an estimate of how long it will take for your transfer to reach its destination.

You should also check that the transfer is set up correctly to transfer money from your sending country to US dollars.

Factor to consider before choosing a method to send money internationally

When selecting a way to transfer money to another country, several factors must be considered.

There are a variety of choices available to consumers who want to send money to family or friends abroad, but the cost and processing time should be taken into account before choosing a method:

1. Fees: 

To send money outside of the United States, a bank or business-like like Western Union or PayPal will charge you fees. Usually, a percentage of the total is charged as the fee. Another thing to keep in mind is that the business will probably add a markup to the currency exchange rate.

2. Limits on amounts: 

Limits on amounts are another thing to think about. To adhere to various international banking requirements, you can send minimal and maximum sums abroad, depending on the bank or firm you choose. The restrictions might be cumulative over a predetermined amount of time or apply to every transaction.

3. Timing:

The time it takes for the money to arrive in another country is a significant determining factor. It can take a few days or longer for the money to appear in your bank account. There are additional methods if the money transfer needs to be done almost instantly. Be prepared to pay an additional fee for convenience if your receiver requires the money right now.

4. Money destinations:

Some providers may transfer money into a bank account, while others would require the Recipient to have an account with the service. Before the money transfer, decide which option is the most convenient. Other organizations, such as Western Union, allow consumers to pick up actual cash at various physical locations.

5. Countries:

Shop around and compare different services because many are limited to specific countries and are not available everywhere

6.Customer service:

If you’re sending larger amounts or need advice, it’s important to choose a provider who can be reached by phone.

7. Discounts:

Some providers may provide you with a free transfer just for signing up. Others might give you a discount if you transfer more than a certain amount.


Your needs will determine which international money transfer service is ideal for you. If you need a quick transfer, look for companies with fast speeds, but be prepared to spend more. You have more options if time isn’t as crucial as the price or method, but you should always think about the price and how your receivers will receive the money.




About Author

money transfer services
Precious Ejimofor
My name is Precious Ejiofor, I am a professional self motivated, dependable writer and editor, with over 4 year of experience in writing for variety of business and platforms. I am able and capable to write on any kind of topic.
Specifically, I focus on producing persuasive and compelling contents that is thoughtful, prominent, and engaging.

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