Best International Money Transfer Apps 

Best International Money Transfer Apps 

What Are Money Transfer Apps?

Like most people, you probably use your smartphone for just about everything – from checking the news and weather to keeping in touch with friends and family. But did you know that your phone can also be a powerful tool for managing your finances?  

Mobile money transfer apps are becoming increasingly popular to quickly and easily send money to friends, family, and businesses. 

Whether you’re an experienced user or just getting started, this guide will provide the information you need to understand how mobile money transfer apps work and how to use them safely. In addition, we will give personal recommendations of apps for different types of transfers.

Keep on reading to find out more.

Money transfer apps are online applications that allow users to send and receive money transfers electronically. Many money transfer apps are available, each with unique features and benefits. 

Some popular money transfer apps include PayPal, Venmo, Cash App, and Zelle. These apps allow users to send money to friends, family, and businesses worldwide quickly and easily.  

Advantages and Disadvantages of Using Mobile Money Transfer Apps 

When it comes to mobile money transfer apps, you should be aware of both – the advantages and disadvantages. In this section, we will outline some key pros and cons so that you can make an informed decision about whether using one of these apps is the right choice for you. 


The first advantage of using a mobile money transfer app is that they are very convenient. If you need to send money to someone, you can do so quickly and easily without going to a bank or another physical location. All you need is your phone and an internet connection. 

A second advantage is that mobile money transfer apps have lower fees than traditional methods like wire transfers. Lower fees can save you a lot of money, especially if you send large sums

Mobile money transfer apps also offer more security than traditional methods. For example, most apps use encryption to protect your personal information and transactions. Additionally, many apps allow you to set up a PIN or password for added protection. 

Finally, mobile money transfer apps often have features that make them even more convenient and versatile, such as real-time tracking your transaction history or exchange rates. 


One disadvantage of using a mobile money transfer app is that it can be less reliable than traditional methods like wire transfers. Reliability issues happen because there is always the potential for technical problems, such as losing service on your phone or losing your internet connection.

Additionally, suppose something goes wrong with a transaction. In that case, it can be more challenging to get help from customer service since you can’t go to a physical location and resolve the problem in person. 

A further disadvantage is that not all mobile money transfer apps are available in all countries. As a result, if you want to send money to someone in a different country, they may not be able to use the app. 

Finally, while most mobile money transfer apps are very safe and secure, fraud or scams can always occur when using any online financial service. Therefore, users should be aware of potential risks before using an app and only using trusted platforms. 

Overall, there are both advantages and disadvantages to using a mobile money transfer app. However, the convenience and lower fees outweigh the potential risks for most people. If you are considering using one of these apps, keep reading to find out which are the best money transfer apps currently on the market. 

Is It Essential That a Money Transfer Provider Has an App? 

A money transfer provider doesn’t have to have an app, but it can be very convenient. Money transfer apps allow you to send and receive money quickly and easily without having to go through the hassle of setting up a bank account or transferring funds through a third party. 

They are also associated with lower fees than traditional money transfer providers, so you can save money using an app. 

What to Look For in a Mobile Money Transfer App?

When choosing a mobile money transfer app, there are several key factors to consider. Below are some of the most valuable features to look for: 

  • Ease of use

The app should be easy to use, with an intuitive and straightforward interface. 

  • Fees

The app should have low or no fees for transferring money. 

  • Security

The app should offer robust security features, such as encryption and Two-Factor Authentication (2FA). 

  • Functionality

The app should offer all the features you need, such as sending money to family and friends, paying bills, and making online purchases. 

How to Choose the Best Mobile Money Transfer App?

You should consider a few things when choosing a mobile money transfer app. Here are some factors to keep in mind: 

  • Fees

Some apps charge fees for using their service. Make sure to compare the fees charged by different apps before selecting one. 

  • Exchange rates

A key factor to consider is the exchange rate offered by the app. Choose an app that offers competitive rates. 

  • Transfer limits

Some apps limit how much money you can transfer per transaction or day/week/month. If you need to send large sums of money, make sure the app you choose has no limit restrictions. 

  • Supported countries

Not all apps work in all countries. If you need to send money overseas, ensure the app you choose supports transfers to your recipient’s country. 

  • Security features

When transferring money, security is always a concern. Choose an app that offers robust security features such as two-factor authentication and encryption of personal data. 

How Much Do Money Transfer Apps Cost?

Several factors will affect the costs of using a money transfer app. The most decisive factor is the exchange rate. The exchange rate is the rate at which one currency is converted into another. 

When you send money abroad, you need to convert your home currency into the currency of the recipient’s country. The exchange rate will dictate how much foreign currency you will get for your home currency. 

You should always check the exchange rate before transferring, as it can fluctuate, and you may get less foreign currency than you anticipated if the rate changes. 

Other factors that can affect the cost of using a money transfer app include the fees charged by the provider. For example, some providers charge a flat fee per transaction, while others charge a percentage of the amount being transferred. You should also check whether there are additional fees, such as recipient bank charges, which could increase the overall cost of your transfer. 

Finally, remember that you may get a better deal on your transaction by using a specialist money transfer service rather than your regular bank. This is because bank transfers can be more expensive due to higher fees and poorer exchange rates. 

How to Set Up and Use a Money Transfer App? 

  • Download the app 

Most money transfer apps are free and can be downloaded from your phone’s app store. Once you’ve found the right app, simply download and install it on your smartphone. 

  • Create an account

You’ll first need to create an account to use a money transfer app. The process usually involves providing personal information, such as your name and contact details. 

You may also be asked to set up a security PIN or password. Once your account is created successfully, you can add money to it and transfer funds. 

  • Add money to your account 

Before sending money, you’ll need to add some funds to your account. For example, you can link a bank account or credit card to the app. Some apps also allow you to add cash by visiting a participating retailer. Once you’ve added money to your account, you can start transferring funds. 

  • Send and receive money 

Sending money using a money transfer app is typically quick and easy. Simply enter the amount of money you want to send, select the recipient’s name from your contacts list, and confirm the transaction. 

The recipient will then receive a notification that the funds are available. Then, they can choose how they want to receive them (usually either directly into their bank account or via a mobile wallet). 

Security Measures When Using Mobile Money Transfer Apps

When it comes to sending and receiving money, security is of the utmost importance. Thankfully, there are several security measures that mobile money transfer apps have in place to protect your money. 

One of the most effective security measures is encryption. This security measure means that your personal and financial information is scrambled when it is sent over the internet so that the recipient is the only one who can only decode it. 

One more necessary security measure is two-factor authentication. With two-factor authentication, you’ll need to confirm your identity with a second factor, such as a code sent to your phone, before accessing your account. 

Here are some other tips for keeping your money safe when using mobile money transfer apps: 

  • Only use apps offered by reputable companies.
  • Ensure you have a strong password for your account; do not use the same password for other accounts.
  • Do not store large amounts of money in your account. Instead, transfer funds to your bank account or another form of storage if you will not use them immediately. 
  • Keep an eye on your account activity and immediately report any suspicious activity to the app provider.

Tips for Using Mobile Money Transfer Apps Safely 

When it comes to using mobile money transfer apps, you can do a few things to help keep your information safe. 

First, ensure that the app you use is from a reputable source. There are a lot of fake apps out there that will try to steal your information. So, only download apps from sources that you trust. 

Next, take the time to read through the app’s privacy policy. This will give you an idea of what information the app will access and how you will use it. Find another app to use if you’re uncomfortable with what you read. 

Finally, log out of the app when you’re finished. You’ll prevent someone else from being able to access your account if they get ahold of your phone. 

These simple tips help keep your information safe when using mobile money transfer apps. 

The Best Money Transfer Apps of 2023 – Our Top 3 Recommendations 

Currencies Direct: Best for Large Transfers

Currencies Direct

Over the last 20 years, Currencies Direct has provided competitive cross-border payment rates. You can make overseas payments in a wide range of currencies, including Australian, South African, Canadian, and United States currencies. 

As soon as you register for an account as an individual, business, or online seller, you can send money.

Company earnings come from trading foreign currencies through spreads. Although Currencies Direct charges a markup, its rates are considerably lower than those banks typically offer. 

When you use Currencies Direct, transactions are fee-free. A third-party provider may, however, impose additional fees beyond the company’s control.  

The recipient usually receives Currencies Direct transfer between 24 and 48 hours after you send it. Please contact customer service if you would like an estimated delivery time. There may be a delay when transferring “exotic” currencies. 


  • Extensive currency exchange experience over the last 20 years
  • Every year, more than 325,000 clients make transfers worth £7.5 billion 
  • Numerous business and consumer awards for this award-winning company 
  • Clients rated the service 4.9/5 (TrustPilot)  
  • An excellent level of customer service
  • Regardless of how much the transfer costs, there is no set fee
  • A global network of 22 offices  
  • Website and support staff in multiple languages  


  • As of now, this service is unable to reach Asia or South America 
  • A simple online app that lacks a visually appealing design  

OFX: Best for Mid-Size Transfers 


A world-renowned money transfer company, OFX is one of the biggest names in the industry. In addition to having offices in over ten countries, the company offers money transfers compatible with over fifty currencies.

As a result of its extensive experience, the company has established procedures for handling most transactions.  

They provide top-notch customer service and great exchange rates. Aside from that, hedges protect customers against sudden changes in exchange rates.  


  • A free transfer of funds is available for customers  
  • An international presence facilitates the flexibility of currency exchange  
  • When making a wire transfer, you can use your bank account or debit card  
  • Worldwide presence ensures excellent services to customers regardless of location  


  • The minimum transfer is $1,000 
  • With OFX, recipients are only eligible to receive bank wire transfers, not cash 
  • Delivery on the same day is not available through OFX    

Wise: Best for Small Transfers 


Wise has earned its reputation as one of the most reputable companies in the industry. Neither fees nor charges are hidden with this company, so financial services are being taken to a whole new level.  

The company’s transparency regarding fees and exchange rates is one of its greatest selling points: they confirm the exact amount the recipient will receive in advance. 

It’s estimated that over 15 million people use Wise’s services. 

When creating an account with Wise, you must give your name, address, telephone number, email address, date of birth, bank account or credit card information, and the recipient’s IBAN. You can see each method’s fees after entering the currency and amount. After that, you will be able to transfer funds.  

You can lock in rates for up to 48 hours with Wise, as they are not affected by exchange rate fluctuations.  

Even though transfers are free, the speed and amount of the transfer, as well as the currency, may incur additional charges. Fees usually range from 0.5% to 0.7% of the transfer amount. The recipient’s account usually receives the funds three to five days after the funds have been sent. 


  • Transparent and clear fees and margins 
  • Trustworthy and reliable  
  • Guaranteed rates for 24 hours to 48 hours 
  • You can transfer funds in a short time 


  • There is no option for cash pickup 
  • A lack of adequate support for large-value transactions 


If you’re looking to send or receive money without hassle, you should download a money transfer app. By doing so, you’ll be able to take advantage of the many benefits these apps offer. 

When choosing a money transfer app, compare the supported fees, exchange rates, and payment methods. Also, read customer reviews to better understand the app’s security and reliability. 

by Matt Woodley
Matt Woodley is the Founder of Money Transfer Expert and is a recognised expert on international money transfers. Matt holds a Bachelor of Commerce (BCom) majoring in Finance and Marketing and a Bachelor of Arts (BA) majoring in Economics and History from the University of Auckland.