10 Best Online Money Transfer Services In USA 2022

Today’s article will discuss how the money transfer service works and give a list of the best money transfer services in the USA alongside its features, pros, and cons.

A money transfer company is one of the cheapest ways to send money internationally. These money transfer companies are often able to offer to reduce transfer costs more than banks, but with the same level of reliability and security.

Specialist companies will have many fees for money transfers; often, it depends on the current market rate and extenuating factors such as where people are sending money from and the amount they are sending. 

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How do Online Money Transfer Services Work?

Online money transfers cave out the old-fashioned concept of wiring money that converges with the modern technology of EFT. A lot of people probably use EFT all the time; it’s simply an electronic way of transferring money from one account to another bank account. Paper money is not exchanged, but data is exchanged. 

Using a debit card at a store transfers money from the customer’s checking account into the store’s banking account. Direct deposit payroll moves money from the employer’s account into its employee account. Both transactions are examples of EFT, and so is online money transfer.

But online money transfer is different from EFT; this is not about a way to pay bills over the Internet. Online money transfer is the modern-day way of wiring money: People can send someone money instantly simply by transferring money (or the data that represents that money) from them to another person.

Usually involving information such as a phone number or an e-mail address for the receiving and sending parties tied to a bank account, online money transfer is done for a small fee from a secure, Web-based service via any computer with good Internet access. There’s no need to go to a telegraph station, money-wiring office, or bank.

List of the 10 Best Online Money Transfer Services in the USA

Below is a combined list of the best online money transfer services in the USA you should check out; their service is quite remarkable

1. Wise 

Wise is a money transfer company committed to bringing high transparency to financial services, with a big focus on no extra fees or zero hidden fees. One of the most significant selling points of this network is how transparent they are with their exchange rates and fee structure; from the offset: Wise can confirm the exact amount that will reach the recipient account before the transfer is even made.

The online network has a rating of 4.6 out of 5 on Trustpilot, and with over 13 million people using its services, they are one of the most popular transfer service providers.


  • The platform sends money cheaper and easier than old-school banks. Send money at the real exchange rate with no extra or hidden fees.
  • Send money abroad without hidden fees.
  • Hold and convert 53 currencies.


  • The platform has clear exchange rate margins and a very transparent fee
  • The platform is a well-trusted and reliable brand with over ten years of experience
  • The platform offers guaranteed rates for 24 – 48 hours
  • Availability of Fast transfer times


  • The platform has no option for cash pickups
  • Emphasis on online service can make troubleshooting complex at times
  • Lacking specialized support for more significant transactions

2. Xe Money Transfer

Xe is a platform that offers international money transfers to over 140 countries, with their most popular routes including Australia, Canada, the United States, and New Zealand.

The Xe brand is well-known in the industry, having created a name for itself as a trusted authority in the foreign exchange space over the last thirty years of trading. 

With nearly 60,000 reviews on Trustpilot and a high rating of ‘Excellent,’ Xe platform is one of our top picks for being a trusted and reliable money transfer service with less costly fees and some of the most competitive rates available.


  • XE platform offers free online currency tools that allow clients to check free live currency rates.
  • The platform sends money internationally to over 140 countries in more than 60 currencies.


  • The platform has created a trusted name in the industry with over three decades of experience.
  • The platform enables money transfers in almost 110 currencies to more than 140 countries.
  • A 24/7 account management
  • No competitive exchange rates and transfer fee


  • The platform does not support card payment
  • The exchange rate is only offered for the time of transfer
  • It has limited payout options

3. Instarem 

Instarem platform is a digital payment solutions company based in Singapore, serving worldwide markets. The platform is well positioned to facilitate different payment types with tailored services for corporate and personal clients.

Still, it is only suitable for customers sending HKD, GBP, AUD, CAD, EUR, INR, MYR, SGD, and USD. Through its secure and fast mobile platform, the company can offer verified and safe transactions to more than 55 countries around the globe.


  • Bank beating(good) exchange rates
  • Send money to over 55 countries
  • Transfer in-app and online, 24 hours a day


  • The company offers low fees and bank-beating exchange rates
  • Strict security protocols and Sophisticated data encryption
  • It has a rewards scheme for repeat clients
  • On-the-go availability with mobile access


  • The available currencies are limited
  • Account verification can take up to 1 day
  • The platform does not support credit card payment 

4. WorldRemit

WorldRemit is a platform that allows people to make transfers in 70 currencies to over 140 countries worldwide, with over 2 million people using their services to make a transfer last year.

The platform offers diverse methods to send money internationally, such as cash pickups, bank deposits, and mobile money; the platform is known for processing most transfers in a few minutes with low fees and an upfront exchange rate.

The WorldRemit company has an average rating of 4.4 out of 5 on Trustpilot, with over 4 million customers worldwide.


  • Quick and easy service
  • Extensive global reach
  • Flexible payment options
  • Multiple delivery channels


  • Global presence in over 140 countries, with 70 currencies available
  • Fast transfer in a few minutes
  • The platform supports different payment methods such as debit cards, credit cards, and bank transfers
  • Exchange rates and fees displayed up-front with no hidden fees


  • More difficult fee structure and higher cost than most online service providers, particularly for larger amounts
  • The WorldRemit platform imposes a maximum sending limit depending on the country, and it’s $9,000 from the United States

5. TorFX

TorFX is a leading money transfer company; this company offers transparent foreign exchange services at a more competitive rate than banks. With an excellent customer rating of 4.9 out of 5 on Trustpilot, the platform is widely regarded as an efficient and trustworthy provider of personal and business transfers.

Their round-the-clock customer service means every client has a direct line to an expert Account Manager who can instruct them through each step of the transfer process. This service provider is strongly recommended for anyone sending huge amounts of money abroad. 


  • A rate improver guarantee.
  • Regular market updates.
  • Expert support and guidance.
  • No Transfer Fees.
  • Award-winning service.


  • This platform has no hidden costs
  • Over 70 available currencies
  • It has flexible transfer options, including forwarding contracts and spot
  • It has no maximum transfer limits, which is ideal for clients sending large money transfers


  • Higher minimum transfer threshold
  • Not a favorable exchange rates for smaller transfers
  • The only acceptable payment method is a bank transfer

6. CurrencyFair

The CurrencyFair is a reputable peer-to-peer (P2P) international money transfer provider offering a lower percentage markup. With the CurrencyFair platform, people can send money internationally in just a few minutes, and it is an affordable money transfer provider for all types of transfers.


  • The platform offers low exchange rate margins making the provider competitive.
  • The platform offers low transaction fees 
  • An interactive cross-platform mobile application


  • It has a competitive exchange rate margin
  • Its transfer fees are low
  • Easy to use a mobile application
  • It allows people to transfer money to 156 countries in the world


  • In Africa, Asia, and the Middle East, the resident cannot open a CurrencyFair account
  • The platform only supports 20 currencies

7. OFX

OFX platform has more than twenty years of experience providing money transfer services. The platform has handled over £68 billion transactions, with an average Trustpilot score of 4.4.

The company has a vast disbursement network, with offices in San Francisco, London, Auckland, Hong Kong, Toronto, and Sydney. With the OFX platform, people will also benefit from 24/7 customer support, low fees, and exchange rate markups.


  • Competitive exchange rates.
  • Fast and secure money transfers.
  • CBI regulated.
  • Quick delivery of funds.
  • 24/7 customer service


  • It offers competitive exchange rates
  • Wide range of banking networks with different physical offices across the globe
  • The intuitive online platform and mobile application


  • Minimum transfer of $200 per transfer and $1,000 per year
  • The platform only accepts bank transfer payment

8. Key Currency

The Key Currency platform was founded in 2015; the platform is a UK-based service provider that offers highly competitive, fee-free international transfers due to lower operating overheads than the currency brokers and the big banks.

The Key Currency platform is passionate about providing first-rate customer support and competitive, up-to-date foreign exchange data to ensure clients get the best deal for their transfer needs. The company is recommended to those needing assistance transferring a large sum of money overseas and business currency exchange.


  • No minimum amount of transfer.
  • The platform offers a fee-free service.
  • Key Currency platform representatives offer to monitor exchange rates on behalf of clients


  • Rated 4.9 out of 5 by clients on Trustpilot
  • Personalized customer experience, with expert representatives on hand
  • Good exchange rates
  • No transfer fees for business or personal


  • Not available to customers in the United States
  • The platform only accepts bank transfer

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9. Currencies Direct

The Currencies Direct platform is a long-standing brand name known within the sector for providing sweet rates and flexible cross-border payment services.

Popular routes include transfers to the USA, Australia, Canada, and South Africa, with more than 62 currencies available to clients making Personal or Business payments overseas. 


  • No transfer fees
  • Customized, flexible solutions
  • Global coverage


  • Services are available in 10 languages; English, Italian, Norwegian, Swedish, French, Spanish, Portuguese, Deutsche, Chinese, and Korean
  • Availability of alerts for tracking target exchange rates
  • Over 62 currencies are available.
  • No fees for bigger transfers


  • The platform has limited payout options
  • The platform has limited African currencies

10. VertoFX

The final platform of our top 10 best online money transfer services is a specialist in the field of business transfers known as the vertex. The platform caters to the specific needs of B2B cross-border payment solutions; this exchange platform has made waves in the world remittance space since it was launched in 2017.

The VertoFX business model platform is an ambitious one. This review will give you an insight into how effective the company has been at solving the different problems businesses face making foreign currency transfers.


  • The platform strives to match the mid-market rates
  • Super-fast and supports mass international business payments
  • A dedicated account manager creates a personalized experience


  • Useful business products like mass payments, multi-currency accounts, and eCommerce tools
  • Receive and send instant payments globally through the online platform
  • Dedicated account manager for 24/7 service


  • The platform is not recommendable for personal transfers
  • Certain features are available to UK and US clients only


Which App can I use to Transfer Money from the USA?

Wise is a money transfer company committed to bringing high transparency to financial services, with a big focus on no extra fees or zero hidden fees.

One of the biggest selling points of this network is how transparent they are with their exchange rates and fee structure; from the offset: Wise can confirm the exact amount that will reach the recipient account before the transfer is even made.

Is there e transfer in the USA?

The service is only accessible to Canadian bank account holders and not to US residents.

Do US banks offer e-transfer?

United States Bank processes electronic transfer funds via the ACHA(automated Clearing House) secure network.

What is the most popular money transfer app?

  • PayPal.
  • WorldRemit.
  • Cash App.
  • Venmo

How can I send 5000 dollars to someone?

The best way to send 5000 dollars to someone is through a transfer app; it is more reliable, faster, and easier.

How much is the maximum you can send through Western Union?

People can send up to 50,000USD. The sending limit of Western Union varies depending on the destination country and the service you choose.

What is the transfer limit for bank of America?

The Bank of America daily limit by ATM for a savings account or checking is $1,000 per account. The amount varies depending on several factors, including the type of card you have, the account you are operating, and the amount the ATM can dispense.

What is the fastest way to send money to someone?

ETF (Electronic transfers) is the fastest way to send money. Any time people transfer money over an online network, it’s considered an EFT.

Is Venmo transfer immediate?

Once the money has been sent, it pops up immediately in the recipient’s account and can be spent using either a Venmo debit card or the Venmo app or sent to a user’s linked bank account. However, not all transfers are instant.

Are there instant wire transfers?

Instant wire transfers exist, but the number of operators in this field is limited, and fees typically apply. To benefit from this kind of transfer, most often, the recipient and the sender must have accounts with the same financial institution or bank.


Kindly comment in the box on our best online money transfer services in the USA recommended in this article. And if you have had experience with any of those mentioned above, kindly share your experience with us in the comment section.

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