Top 10 Money Transfer Companies in the UK

International money transfers are vital for many people living abroad. These services can help expats manage their personal budgets, streamline their tax payments, and even reduce the cost of living by transferring funds from high-priced home countries to more affordable host destinations. International money transfer services are a great way to send money overseas at an affordable cost and with little hassle. 

They also let you send small amounts as needed instead of having to send larger amounts less often, as is typical with other remittance services. However, it’s important that you do your homework when choosing an international money transfer service so that you choose one that best meets your needs and is sustainable in the long term.

Keep on reading to find out our list of top 10 international money transfer services in the UK.

Currencies Direct
  • Bank-beating Exchange Rates
  • Zero Transfer Fees
  • Personal Currency Expert Advice
  • Bespoke Currency Solutions
  • The Most Trusted Money Transfer Service
  • 5-Star Trustpilot Rating from over 8,000 Reviews
Clear Currency
  • Highly-competitive exchange rates
  • Zero Transfer Fees
  • Dedicated Currency Strategy
  • Personal Currency Support
  • FX Strategy Tools
  • FCA Regulated 
Key Currency
  • Excellent Exchange Rates
  • Zero Transfer Fees
  • No Hidden Fees
  • Award-Winning Service
  • 5-Star Trustpilot Rating from over 1,000 Reviews

Top 10 UK International Money Transfer Services for 2023:

  • Currencies Direct – Best Overall
  • Clear Currency – Boutique Service
  • Key Currency – Best Value
  • XE Money Transfer – Industry Leader
  • TorFX – Excellent Service
  • Moneycorp – Best for Business Transfers
  • Global Reach – Industry Veteran
  • Currency Solutions – Great for Hedging
  • Wise – Best for Small Transfers
  • Halo Financial – Business Transfer Specialist

1. Currencies Direct (Best Overall)

Currencies Direct has been providing banks-beating rates for cross-border payments since 1996. They are our top choice for international money transfers. More than 60 currencies are available for personal and business payments overseas, including those in Australia, Canada, the USA, and South Africa.

By registering for a Personal, Business, or Online Seller account and completing the application, you can start sending money. 

You will receive your secure PIN via SMS or email after entering all your details correctly and submitting them. Currencies Direct account managers will also contact you by phone or email.

Upon completing this verification process, you can begin setting up your first transfer online by selecting the currency and amount you wish to send. Provide details about the recipient. Your funds will be sent directly to the recipient once Currencies Direct receives your payment.

The live exchange rate list provided by Currencies Direct shows true mid-market rates all day, every day.

A slightly lower rate will be given to customers if they are setting up an international transfer. The company makes its money by applying spreads to foreign exchange buy and sell rates. The exchange rates offered by Currencies Direct remain competitive despite the markup, and they are substantially cheaper than those offered by most banks.

Currencies Direct has a fee-free policy. However, third-party providers may charge other fees outside the company’s control.

A Currencies Direct transfer typically takes 24 to 48 hours to reach its recipient. If you want to avoid disappointment, ask the customer service team for an estimate of the delivery date before paying. It may take longer for transfers involving “exotic” currencies to complete than transfers involving more common major currencies.


  • Providing currency exchange services since 1996
  • Annually, £7.5bn is transferred to over 325,000 active clients
  • The company has won many business and consumer awards
  • MoneyTransferComparison’s glowing customer reviews
  • Staff that is courteous and professional (Private and Business Desks)
  • The transfer fee is not fixed (no matter the amount)
  • A global presence with 22 offices
  • Support staff & website in multiple languages


  • It cannot be used to send money to Asia or South America
  • The user interface of online platforms is less intuitive than that of
  • The online app is functional, but it isn’t visually appealing

Read our full review of Currencies Direct.

  • Bank-beating Exchange Rates
  • Zero-Transfer Fees
  • Bespoke Currency Solutions
  • Expert Personal Advice
  • FCA Regulated

2. Clear Currency

The Clear Currency payment platform, email, or phone interface allows you to make international money transfers quickly and securely. A forward contract allows you to lock in a favourable exchange rate for up to a year, which can help mitigate currency risk.

Clients of Clear Currency can pay their employees and suppliers globally in multiple batches and multiple locations. For secure and quick international payments and collections, you can also use automated currency conversion. 

By using your Clear Currency business account online, you can manage incoming payments and schedule conversions in multiple countries. Payments made and received internationally can be mitigated by your dedicated account manager.

With competitive exchange rates, Clear Currency can help you save money. You can check live rates on the company’s payments platform or talk to one of their specialists to get the best rate.

The automated payments system at Clear Currency streamlines the international payment process, so you don’t have to wait around for your funds. Clear Currency usually has your funds available in the new currency within two working days after you place them in your account.

Online currency payments through Clear Currency are available 24 hours a day, 7 days a week, from anywhere. You can control and monitor payments as well as purchase currency.


  • Fast and efficient payments are facilitated by top-tier banks
  • The ability to transfer money internationally on the same day or the next day
  • A dedicated account manager offers advice and strategies for mitigating foreign exchange risk
  • You can make payments in 35 different currencies in 130 different countries 
  • No hidden charges or fees
  • A free online account that allows you to make secure online payments


  • Credit card payments are not available
  • It has offices only in London and Dublin 

Read the full review of Clear Currency.

3. Key Currency

A UK-based company founded in 2015, Key Currency provides fee-free international money transfers because it operates with lower costs than banks and currency brokers. In order to ensure that users receive the best exchange rate for their transfers, Key Currency strives to provide outstanding customer service and competitive, up-to-date currency data. 

For those with large amounts of money to transfer overseas or to exchange currencies for their business, this company is a good choice.

Once registered with Key Currency, customers are assigned a representative who will help them choose the best transfer service, exchange rate, and payment method, guiding them through the process.

Key Currency does not provide live and transparent foreign exchange rates. Key Currency, however, compensates for the lack of widespread transparency by providing tailored, one-on-one customer service. 

You will save money on bank charges and receive expert advice by using Key Currency, as there are no transfer fees.

A Key Currency transfer usually takes 1 – 5 working days to reach the recipient. Depending on the transfer method and route, a transfer might take as little as one to two days, while a SWIFT transfer outside of the EU could take as long as four days.


  • Experienced representatives are available to assist you with customer service tailored to your needs
  • Competitive exchange rates
  • Fee-free transfers for both individuals and businesses


  • Customers in the United States are not eligible
  • Funds must be sent via bank transfer to a segregated client account

4. XE Money Transfer

It is possible to send money to more than 130 countries through XE, including Canada, the US, Australia, and New Zealand. In the foreign exchange space, the brand has become well-known after 30 years of trading. 

Its rating on Trustpilot is ‘Great,’ making it a top pick for being a trustworthy, reliable money transfer service with low fees and competitive rates.

Registration requires you to provide your name, occupation, social security number, and address while setting up an account. You can proceed to the next step once your account has been approved. You will need to enter the information for your payment, your payment amount, the currency you wish to send, and the recipient’s information. 

There is, however, a catch with XE: you cannot pay with a card or pick up cash through Xe – you must use online banking or over the phone. There are no Xe sending fees, but third-party fees may apply, ranging between 2 and 4 USD. Using a credit card to send money, some issuers charge cash advance fees of up to 5%. 

The funds may arrive between two and four days after they are sent to your recipient, depending on the currency used, your recipient’s bank, and the sender’s bank.


  • Fee-free. Fees for ongoing services, commissions, or transactions are not charged.
  • More than 200 countries can be reached by transferring money in over 100 different currencies. People who need to make regular payments will find this wide reach appealing.
  • Transfer rates that are competitive. Compared with other providers – especially banks – their exchange rates are highly competitive.
  • Expertise in foreign exchange rates. A bank is able to provide a wide range of financial services. While XE specialises in the world’s currency markets, it specialises in foreign exchange.
  • User-friendly and well-designed, the app is easy to use. Money transfers are easy with it.
  • There are no limits. There is no monthly maximum for sending money through XE.
  • Registering and getting started is easy. All necessary information can be entered into the app, and transfers can be made immediately.


  • The US, UK, and Europe are the only places where card payments can be processed. You cannot use a credit or debit card to pay for global money transfers.
  • There is no cash pickup available. A bank account must be used for all transfers.

Read the full review of XE Money Transfer.

5. TorFX

TorFX is another money transfer company that offers transparent foreign exchange services at a much lower price than banks. TorFX is widely regarded as a trustworthy and efficient provider of personal and business transfers. 

Customer service representatives are available round-the-clock so that customers can speak directly with a representative at any time about the transfer process. Using this service provider will save you a great deal of time and money when you send large amounts of money overseas. 

With TorFX, you can either get a free quote or register right away. With the help of a personal account manager from TorFX, you will be guided through the quote process.

You receive a username and password as soon as you register for an online account. The process can be completed online or over the phone.

After you have completed this step, simply enter the address where the money should be sent. Please ensure that all information is verified and accurate before sending the money. Payments can be made via bank transfers, and the funds can be tracked as they are transferred.

There are no fixed fees associated with transfers at TorFX.As opposed to charging fees, TorFX makes money off the difference between its own rate and the mid-market rate. Transfers under $1000 cost roughly 1.91%, and transfers over $1,000 cost roughly 2.71%.

You can expect your TorFX transfer to complete one to three days after you create the transfer account. There are several factors that determine this, including where you are sending from, where you are sending to, the currency involved, the time of the transfer, and verifications.


  • A professional staff of over 100 traders and a strong corporate foreign exchange department
  • Numerous industry awards 
  • The Barclays Bank Account
  • Transfers of money for immigration, property, and relocation
  • Clients report highly positive experiences
  • Company with a rapid growth rate
  • Updates on industry-leading markets
  • Transfers between Australia, New Zealand, the UK, and the European Union (with local offices)


  • Targeted at large-sum clients
  • The mobile app can be slow

6. Moneycorp

UK-based Moneycorp offers customised services to individuals, online sellers, sole traders, and large corporate institutions. Fees charged by Moneycorp for transfers and exchange rate margins are used to generate profits. With its services, customers can save money and make cross-border payments quickly using industry expertise and cutting-edge technology. 

When transferring funds, both fees and margins are paid by the sender. Moneycorps charge these fees to cover the cost of operating the infrastructure and commissions on transactions. Using the platform will generally cost you between 1% and 2% more than mid-market exchange rates. When you transfer money with Moneycorp, you may do so online, via the app, or over the phone, with different fees for each method. 

The cost of online and app transfers is less than that of telephone transfers. In France and Spain, for example, standard transfers are £5, and express transfers are £9. It is also possible to send money online and via the app from France and Spain. 

Over-the-phone transfers cost a flat rate of £15 in most countries except Australia, Romania, and a few others.


  • Over three decades of experience
  • An estimated turnover of £38 billion 
  • An improved online experience
  • Gibraltar Banking Licence
  • Rating highest in the industry by D&B
  • Various awards for consumers and businesses
  • A broad range of payment methods
  • Customer service that is attentive and responsive to client complaints
  • The company is extremely transparent despite being a private company – It publishes its annual report on a regular basis.


  • Money corp’s mobile app has received some negative reviews
  • Outdated in comparison with Wise

7. Global Reach

With a strong management team and an experienced executive board, the company has implemented a more client-focused strategy. There are over 140 employees working in different regions and service centres of the company.

In more than 140 currencies, Global Reach has helped more than 25,000 clients remit money internationally. There is a high level of satisfaction and trust among Global Reach clients, as 94% have given the company a 4 or 5-star rating on Trustpilot.

As well as its London office, the company has offices in Cyprus, South Africa, the Netherlands, Spain, and Cornwall in the UK. You cannot use Global Reach in the United States, but you can transfer money overseas via the platform.

In comparison to high street banks that charge an average margin of 3.8% on overseas transfers, Global Reach’s exchange rate margins tend to be 2% above the mid-market rate.

Global Reach claims that both corporate and personal accounts are free of maintenance fees. As a result, your account will not be debited for monthly fees. There is, however, a fee of up to £20 charged for telegraphic transfers (transactions). Whenever a transfer exceeds £3,000, there are no fees.

Global Reach accepts two main payment methods:

  • Payment by debit or credit card 

You can pay Global Reach with your credit or debit card for onward transfer. In most cases, funds are available the same day that card payment is made.

  • Bank transfers

Global Reach accepts bank transfers from clients. Generally, bank transfers to Global Reach take no more than a day if they are made within Europe or the UK. For faster payment processing in South Africa, the provider has a local collection facility.

Transfers with Global Reach must be at least £1,000 or the equivalent in your currency. There is no maximum transfer amount.

In general, transfers take between one and three days to arrive. This depends on the method of payment and the destination of the transfer. It may take longer to get your money through a bank transfer than through a credit card payment.


  • An annual turnover of £7 billion – a large company
  • The leading provider of options contracts in the industry
  • A high level of client satisfaction
  • An industry veteran with over 20 years of experience
  • A quick sign-up process and a friendly onboarding team
  • Combination of two good firms – one oriented toward corporate clients, the other toward private clients


  • Accounts are not available in multiple currencies
  • App for money transfers is not available

8. Currency Solutions

One of the best client review scores in the industry belongs to Currency Solutions, an experienced provider. 99% of their reviews are positive, praising and hailing the quality of service they provide to their clients, whether private or commercial. If you’re wondering whether Currency Solutions is safe or worth considering, yes, it is. 

In addition to its UK office, Currency Solutions also has offices in Ireland, Cyprus, and the Netherlands.

Transfers over $3,000 are free of charge.

Depending on the amount and currency involved, Currency Solutions offers different exchange rates. A large transfer can be negotiated, just like with other brokers, and there are no upfront quotes. A staff member will contact users within hours after they apply online for a quote. After your account is live and all KYC checks have been completed, you can either agree to the exchange rate over the phone or on the website.

Those looking to send small payments or remittances will not be able to use this service due to its minimum transfer amount of £1,000. Other companies that specialise in remittances will accept smaller transfers as well.

Online transfers for private clients are limited to £20,000, but phone transfers have no upper limit. The maximum amount of money that can be traded online by a business client is £50,000.


  • Three-time best-ranked money transfer provider on TrustPilot
  • An attentive and friendly staff
  • You can work with a dedicated dealer starting with a transfer of £5,000
  • Small Business Expertise
  • Systems for trading online
  • A client base of 135,000 active users
  • Options for FX Hedging, such as forward contracts
  • Complaints are handled promptly and attentively


  • In comparison to its major competitors, the company is smaller and less renowned
  • Accounts are not available in multiple currencies
  • Money Transfer App is not available
  • A large minimum transfer amount is required

9. Wise

A well-known name in the industry, Wise is known for a good reason. Dedicated to increased transparency and zero hidden fees, the company is bringing financial services to a whole new level. 

One of the largest selling points of Wise is their transparency regarding fees and exchange rates: they confirm the exact amount that will reach the recipient account before the transfer even takes place.

As a company specialising in online money transfers, over 12 million people use Wise’s services, and they have an average rating of 4.5 out of 5 on Trustpilot from over 185,000 reviews.

Wise requires you to create an account by providing your name, address, phone number, email address, date of birth, bank account or credit card information, and details of your recipient and their International Bank Account Number (IBAN). You will see the fees for each payment method as soon as you enter the currency and amount. After that, you can transfer funds. 

With Wise, customers have access to mid-market rates – unchanged by exchange rate fluctuations – and the option to lock in rates for a 24-48-hour period. 

In spite of the fact that transfers are free, depending on the speed at which money is delivered, the amount being transferred, and the currency being used, additional fees may apply. Fees are usually a percentage of the transferred amount and range from 0.5% to 0.7%. It usually takes three to five days for funds to be transferred to a recipient’s account.


  • Fees and margins are transparent and clear
  • Known for its reliability and trustworthiness for over 10 years
  • You can get guaranteed rates for 24 to 48 hours
  • A fast transfer time is available


  • Cash pickup is not available
  • A lack of personal specialised support for large transactions

10. Halo Financial

From their London headquarters, Halo Financial offers customised consulting services to all clients, whether they are individuals or businesses. 

Money senders who wish to send large amounts of money abroad can use Halo Financial since there is no maximum transfer limit. When it comes to international transfers, Halo offers favourable exchange rates and fee-free services for currency exchange over £5,500 (or equivalent). This helps clients save time and money when buying property overseas or transferring their salary abroad.

The main source of Halo Financial’s profit is charging a margin between 0.1% and 1.0% above the mid-market rate on exchange rates. 

Using four different exchange rate mechanisms, the company offers the best value money transfers on the market:

  • Spot Rates

Using spot contracts, you are able to exchange currencies instantly or within days, based on the exchange rate at the time. To take advantage of current exchange rates, a dedicated consultant advises every client when to make trades.

  • Forward Trades

The currency solution described here is a flexible and effective way to protect your desired exchange rate against volatility. In a forward trade, Halo Financial agrees to exchange a certain currency pair at a fixed price, then transfers and delivers it over the next 24 months.

  • Automated Orders

Using your personal consultant, you can trade currency round-the-clock at predetermined levels, making the most of exchange rates. This strategy aims to protect clients from market fluctuations to help them obtain more favourable exchange rates.

  • Regular Currency Transfers

 Clients looking for regular currency exchanges can benefit from this convenient currency exchange solution. Halo Financial uses standing orders to transfer money on scheduled dates to approved beneficiaries. Any business making regular payments and wanting to avoid paying on a regular basis should consider this currency exchange solution.

Foreign currency transfers exceeding £5,000 (or equivalent) are free of charge at Halo Financial. Sending money to anywhere in the world costs £15 for lower amounts; this covers administration fees.

When funds are transferred by 2 pm UK time, USD, CAD, GBP, or EUR can be delivered the same day. Currency conversion will take place the following working day for all other currencies. 


  • Extensive experience of more than 10 years
  • Easy-to-use website and online platform
  • An experienced staff
  • Offerings for businesses that are excellent
  • Market updates on a regular basis


  • There is only one UK office
  • Clients in the USA are not able to use this service
  • The company is smaller and less well-known compared to leading competitors

What Is an International Money Transfer?

An international money transfer is a payment made from one country to another. Money can be transferred between two bank accounts or between a bank account and a mobile wallet.

Types of International Money Transfers

There are two main types of international money transfers:

  • Bank-to-bank transfer

This is when you send money from your bank account to another person’s bank account in another country. The transaction usually happens through the SWIFT network. Depending on the banks involved, the transfer can take anywhere from 1-5 days.

  • Person-to-person (P2P) transfer

This is when you send money directly to another person using a mobile app or online service. The transaction happens quickly, often in real-time, and doesn’t involve a bank. Popular P2P services include Venmo, PayPal, and Square Cash.

How to Make an International Money Transfer?

To make an international money transfer, you’ll need the following information:

  • The recipient’s name
  • The recipient’s address
  • The recipient’s bank account number
  • The name of the recipient’s bank
  • The address of the recipient’s bank

Once you have all the necessary information, you can start the process of making your transfer by following these steps:

Step 1: Choose a provider. Many companies, including banks, Wise, Western Union, and Xoom, will let you make an international wire transfer. Each company has its own fee structure and rates, so it’s important to compare options before deciding which one to use.

Step 2: Set up an account with your chosen provider. When you find a company that meets your needs, sign up for an account and provide them with your personal information as well as banking details. Some companies may require additional verification steps at this stage.

Step 3: Enter the recipient’s information. Once you have an account set up with your chosen provider, you can enter the necessary information about the recipient of your funds—including their name, address, and banking details mentioned earlier.

Step 4: Choose how much you want to send. In most cases, there will be a limit on how much money you can send in each transaction as well as over a certain period of time. Make sure to check these limits before you begin the transfer process.

Step 5: Enter your payment information. After choosing how much money you want to send, enter your payment information. This will usually be your bank account details or credit/debit card information.

Step 6: Review and confirm the transaction. Before the transaction is finalised, you’ll have a chance to review all the details to ensure everything is correct. Once you confirm the transaction, the funds will be sent to the recipient’s bank account— typically within 1-5 days for bank-to-bank transfers and almost immediately for P2P transfers.

Fees and Rates

The fees associated with international money transfers vary depending on the provider you use and the country you’re sending money to. In general, banks tend to have higher fees than specialist money transfer companies. 

When choosing a provider, it’s important to compare not only the fees but also the exchange rate they offer— as this can have a big impact on how much money your recipient ultimately receives.

As an example, let’s say you want to send $1,000 from the United States to Europe. You’ve found two providers that charge similar fees— $15 for a bank-to-bank transfer and $10 for a P2P transfer. However, one of them offers an exchange rate of 1 EUR = 1.10 USD, while the other offers 1 EUR = 1.20 USD. When you factor in the exchange rate, your recipient will receive €900 with the first provider and €833 with the second— even though both providers had similar fees!

What to Look for in a Money Transfer Company? How to Compare Services?

To find a reputable money transfer company, there are a few things you should look for:

  • A company that is licensed and regulated by the government. 

This ensures that the company is held to high standards and that your money will be safe.

  • A company with low fees.

When comparing companies, be sure to compare the total cost of the transfer, not just the exchange rate. Some companies charge hidden fees, so it’s important to read the fine print.

  • A company with a good reputation. 

You can check online reviews to understand how other customers have experienced the company.

  • A company that offers excellent customer service. 

This is important in case you have any questions or problems during the process.

Once you’ve found a few companies that meet these criteria, you can compare their services to see which one is right for you.

Benefits of Using a Specialist Money Transfer Company

When you make an international money transfer, you want to be sure that your money is going to arrive safely and on time. 

That’s why choosing a reputable and reliable money transfer company is important. A specialist money transfer company will have extensive experience in handling international payments and will offer a number of advantages over other methods of sending money abroad.

Here are some of the benefits of using a specialist money transfer company for your international payments:

  • Convenient

A specialist money transfer company will offer a convenient way to send money abroad, often with online or mobile apps that make it easy to send funds from anywhere in the world.

  • Fast 

Specialist companies also tend to offer fast payment services, so your recipient can receive their funds quickly.

  • Safe

When you use a reputable and experienced money transfer company, you can be confident that your funds will arrive safely and securely. The company will also have processes in place to protect against fraud and other risks.

  • Competitive rates 

Specialist companies usually offer competitive exchange rates and low fees, so you can get more bang for your buck when you send money overseas.

  • Greater choice 

A good specialist will offer a range of different ways to send money abroad, so you can choose the option that best suits your needs. From bank transfers to e-wallets, there are plenty of options available.

Options to Send Money Abroad

There are a few different options available when sending money abroad. The most common method is to use a bank, which can be done either in person or online. However, there are also a number of specialist money transfer companies that can offer more competitive rates and faster transfers. 

Finally, there are also many peer-to-peer platforms that can be used to send money internationally.

How Long Does an International Money Transfer Take?

When sending money abroad, it’s important to know how long the transfer will take. The answer depends on a few factors, including the type of transfer you’re using and the destination country.

For example, most bank-to-bank transfers are completed within 1-3 business days. However, if you’re sending money to a country with a less developed banking system, it could take up to 5 business days for the funds to arrive.

If you need your money to arrive faster, you can use an online money transfer service like Western Union or Wise (formerly TransferWise). These services typically allow you to send money within minutes, although it may take a few hours for the funds to become available in the recipient’s account.

Of course, the speed of your transfer also depends on the receiving bank. Some banks are able to process international payments quickly, while others may take a few days. So if you’re in a hurry, it’s best to check with your recipient’s bank before sending any money.

Common Reasons for Sending Money Abroad

There are many reasons why people send money internationally. Some of the most common reasons include:

  • To support family or friends abroad

Many people have loved ones who live in other countries, and they may need to send them money for various reasons. For example, they may need to help with medical bills, education costs, or simply to help with everyday living expenses.

  • To make a purchase from an international seller

With the rise of online shopping, buying products from sellers in other countries is easier than ever. However, you will usually need to pay for these goods using an international money transfer service.

  • To invest in foreign property or businesses

If you’re looking to invest in property or businesses overseas, you will need to use an international money transfer service to make the payment. This is because most banks will not allow you to send large sums of money out of the country without prior approval.

  • To pay for medical treatment abroad

If you need to receive medical treatment in another country, you may need to pay for this using an international money transfer service. This is because many health insurance providers will only cover the cost of treatment in your home country.

Associated Costs of an Online Money Transfer

When you make an international money transfer, there will typically be a few different fees associated with the transaction. These can include the following:

  • The fee charged by the sending bank

This is usually a flat fee but can sometimes be a percentage of the total amount being sent.

  • The fee charged by the receiving bank

Again, this is usually a flat fee but can sometimes be a percentage of the total amount being received.

  • The foreign exchange rate margin

This is the difference between the wholesale exchange rate banks use when dealing with each other and the exchange rate you get when making your transfer. The margin is how banks make their money on foreign exchange transactions.

  • A service fee charged by the currency transfer company

This is generally a flat fee but can sometimes be a percentage of the total amount being transferred.

Transferring Money for Business Purposes

Businesses will often use international money transfer services to transfer funds to employees or contractors around the world. These services can help streamline payment processes, reduce the amount of time employees have to wait to receive their payments, and allow you to keep track of payments made. 

Many business-oriented money transfer services offer competitive exchange rates and quick processing times. When choosing a business-oriented money transfer service, look for one with quick and easy online or mobile app payment options, competitive exchange rates, and high-quality customer service. You should also consider the minimum and maximum amounts that can be sent along with any additional fees associated with larger transfers.

Transferring Money for Tourism and Vacations

Many people living abroad use international money transfer services to send funds to family members and friends for vacations, shopping sprees, and other tourist activities. These services can help streamline payment processes and avoid credit card fraud that can occur when using cards abroad. 

Transferring Money During Emergencies

Many people living abroad use international money transfers to send funds to family members back home during times of financial difficulty. These services can help streamline the process of sending large amounts of money quickly and easily. Many international money transfer services will also let you send smaller amounts of money as needed instead of having to send larger amounts less often, as is typical with other remittance methods. 

Tips for Sending Money Overseas

Shop Around for the Best Deal

The first thing you need to do when you want to send money abroad is shop around for the best deal. There may be several different providers in your country or in the destination country that you can use to transfer funds, but the prices won’t be the same for each of them. 

You may even find that the cost of sending money varies from one provider to another in your own country based on things like your location. If you have a specific amount of money you want to send, it can help to use an online money transfer calculator to help you figure out the total cost of different providers. If you’re sending a smaller amount of money, you may want to use an app or website that lets you compare prices among different providers.

Send a Small Amount of Money First

One of the best things you can do before you send a large amount of money abroad is to send a smaller amount first. This way, you can test the provider’s service and make sure they’re trustworthy. You can also use the smaller amount to estimate the total cost of the transfer. If you’re using a service that lets you estimate the cost based on the amount you’re transferring, make sure to use the foreign exchange rates at the time of your transfer to get the most accurate estimate.

Estimate Your Total Cost

There are several factors that affect the total cost of sending money abroad. These include the amount you want to send, the exchange rate, the fees for the service you use, and the fees for the recipient’s bank. While the exchange rate and the fees you pay for the service you use are likely to stay consistent, there is a chance that the fees the banks are charging the recipient may fluctuate. That’s why it’s important to estimate your total cost before you send money. 

Thankfully, there are a few ways you can estimate your total cost. The first is to use an online calculator. These calculators can help you plug in the amount you want to send and then let you select the exchange rate and the fees for your service provider. Another option is to use a service that lets you send money internationally. Some of these services also let you estimate the total cost of your transfer.

Set a Specific Date and Time for Your Transfer

If you plan to send money abroad, you should always set a specific date and time to transfer the money. This will ensure that your money gets to the recipient on time and that you don’t accidentally send it early and incur additional fees.

It’s important to note that different providers will credit your account on different days, so you should always double-check when your money will be available. If you use a service that doesn’t have a set date and time, you can also select the “expedite” option to make sure your money is sent as soon as possible.

Quick Summary:

CompanyCompanyKey FeaturesOfficial Website
Currencies Direct

Currencies Direct

  • Bank-beating Exchange Rates
  • Zero Transfer Fees
  • Bespoke Currency Solutions
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Clear Currency

Clear Currency

  • Highly-competitive exchange rates
  • Zero Transfer Fees
  • FX Strategy Tools
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Key Currency

Key Currency

  • Excellent Exchange Rates
  • Zero Transfer Fees
  • Award-Winning Service
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International money transfers are vital for many expats working or travelling abroad. These services can help streamline payment processes, reduce the amount of time people have to wait for payments, and even help people send smaller amounts as needed instead of larger amounts less often. 

When choosing a money transfer service, look for an organization with quick and easy payment options, competitive exchange rates, and high-quality customer service.