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Last updatedJanuary 2021

Best Money Transfer Services 2021

Send money home, fast

Save money with fee-free transfers & bank-beating exchange rates. Compare the best money transfer services for quick, safe transfers 24/7.

Which transfer service is right for you?

Transfer Purpose
  • Personal
  • Business
Currency Sent
  • USDUSD
  • GBPGBP
  • EUREUR
  • AUDAUD
  • CADCAD
  • AEDAED
  • AMDAMD
  • AOAAOA
  • ARSARS
  • AZNAZN
  • BBDBBD
  • BDTBDT
  • BGNBGN
  • BHDBHD
  • BNDBND
  • BOBBOB
  • BRLBRL
  • BWPBWP
  • CDFCDF
  • CHFCHF
  • CNYCNY
  • COPCOP
  • CZKCZK
  • DKKDKK
  • DOPDOP
  • DZDDZD
  • EGPEGP
  • ETBETB
  • FJDFJD
  • GELGEL
  • GHSGHS
  • GTQGTQ
  • HKDHKD
  • HRKHRK
  • HTGHTG
  • HUFHUF
  • IDRIDR
  • ILSILS
  • INRINR
  • JMDJMD
  • JODJOD
  • JPYJPY
  • KESKES
  • KRWKRW
  • KWDKWD
  • LBPLBP
  • LKRLKR
  • MADMAD
  • MDLMDL
  • MGAMGA
  • MURMUR
  • MXNMXN
  • MYRMYR
  • NGNNGN
  • NOKNOK
  • NZDNZD
  • OMROMR
  • PABPAB
  • PENPEN
  • PGKPGK
  • PHPPHP
  • PKRPKR
  • PLNPLN
  • PYGPYG
  • QARQAR
  • RONRON
  • RSDRSD
  • RUBRUB
  • SARSAR
  • SEKSEK
  • SGDSGD
  • SVCSVC
  • THBTHB
  • TNDTND
  • TRYTRY
  • TTDTTD
  • TWDTWD
  • UAHUAH
  • UGXUGX
  • UYUUYU
  • VESVES
  • VNDVND
  • XCDXCD
  • XOFXOF
  • XPFXPF
  • ZARZAR
Currency Received
  • EUREUR
  • GBPGBP
  • CADCAD
  • AUDAUD
  • USDUSD
  • AEDAED
  • AMDAMD
  • AOAAOA
  • ARSARS
  • AZNAZN
  • BBDBBD
  • BDTBDT
  • BGNBGN
  • BHDBHD
  • BNDBND
  • BOBBOB
  • BRLBRL
  • BWPBWP
  • CDFCDF
  • CHFCHF
  • CNYCNY
  • COPCOP
  • CZKCZK
  • DKKDKK
  • DOPDOP
  • DZDDZD
  • EGPEGP
  • ETBETB
  • FJDFJD
  • GELGEL
  • GHSGHS
  • GTQGTQ
  • HKDHKD
  • HRKHRK
  • HTGHTG
  • HUFHUF
  • IDRIDR
  • ILSILS
  • INRINR
  • JMDJMD
  • JODJOD
  • JPYJPY
  • KESKES
  • KRWKRW
  • KWDKWD
  • LBPLBP
  • LKRLKR
  • MADMAD
  • MDLMDL
  • MGAMGA
  • MURMUR
  • MXNMXN
  • MYRMYR
  • NGNNGN
  • NOKNOK
  • NZDNZD
  • OMROMR
  • PABPAB
  • PENPEN
  • PGKPGK
  • PHPPHP
  • PKRPKR
  • PLNPLN
  • PYGPYG
  • QARQAR
  • RONRON
  • RSDRSD
  • RUBRUB
  • SARSAR
  • SEKSEK
  • SGDSGD
  • SVCSVC
  • THBTHB
  • TNDTND
  • TRYTRY
  • TTDTTD
  • TWDTWD
  • UAHUAH
  • UGXUGX
  • UYUUYU
  • VESVES
  • VNDVND
  • XCDXCD
  • XOFXOF
  • XPFXPF
  • ZARZAR
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Editorial Reviews

WorldRemit

WorldRemit

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Currencies Direct

Currencies Direct

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Best Overall
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TorFX
Award-winning service provider
  • No fees, best rate guarantee
  • Minimum trade: £200
  • Transfer time: min. same day
  • Over 84 people visited this site today
Online Money Transfer 

Transferring money online has never been easier, quicker, and safer. With just a few clicks of a mouse—or taps of your finger—you can transfer money to other people, make international payments for your company, wire money between banks, pay merchants, and more, both locally and internationally.

Online money transfer is becoming increasingly more popular because of its convenience; whereas people used to need to go to the bank or wiring office to transfer money, today all you need is access to a computer or a smartphone. 

If you're looking to transfer today, here are 3 of the best money transfer services around:

1. XE Money Transfers

XE can make transfers to well over 100 countries across the world, working with more than 60 currencies. It also has options that a lot of competitors can’t match, namely, there is no minimum or maximum daily transfer, and the company doesn’t charge a fee. How do they make money then? XE makes money by playing the spread—the difference between the exchange rate and the rate given to the customer. The company also uses what it describes as “enterprise grade security” to keep your data and transfers safe. 

Rates

The exchange rate you get for your money is determined by XE based on the day’s rates given in foreign exchange markets and is only fixed after you’ve confirmed your transaction. XE does not charge any additional fee for the transfer, though you may be charged by the bank when receiving your funds or by an intermediary bank. 

Transfer times

XE allows customers to make international money transfers 24/7, some transfers are completed within 24 hours, though the company advises customers to allow 1-4 working days for the beneficiary bank to credit the funds to the recipient.  

Limits

XE does not place any minimum amount on your transfer, though the company website does stipulate that you can not exceed $500,000 when sending funds. Read the full XE review.

2. Azimo

Azimo is a fully digital money transfer service that makes it easy and inexpensive to send money to family and friends across the globe. It offers a range of transfer types, fast transaction times, and transparent payment tracking so that you won’t worry about whether or not your money has arrived. Azimo uses a highly secure process and works with leading banks around the world.

Rates

Azimo charges a conversion fee that typically ranges between 0.1% and 2.25%, depending on the transfer amount and destination. According to Azimo, their average transfer fee is £1.99.

Transfer times

1-2 working days, depending on destination.  

Limits

Azimo’s minimum transfer amount is £10, while their maximum amount depends on which delivery method you use: Credit card transfers have a maximum amount of £12,000, while wire transfers have a maximum of £250,000 per transfer. Read the full Azimo review

3. CurrencyFair

CurrencyFair is a peer-to-peer international money transfer service that allows users to bypass the banks—and their fees. The funds are transferred and credited as quickly as the same business day, and there is no limit on how much you can send. Users set up an account with CurrencyFair and then transfer money to it by way of a bank transfer, and the funds are then sent by CurrencyFair to the recipient’s bank account.

Rates
The company charges international transfer fees of £2.50 per transfer, as well as an exchange rate margin, the amount of which will depend on the size of your transfer and the currency rates on the day you make the transfer. The company estimates that users pay on average 0.4% of the amount exchanged, in addition to the transfer fee. For a £2,000 transfer, this would come out to about £8. You may also face some fees from the recipient bank.

Transfer Time
CurrencyFair states that it can “take a few working days to reach your beneficiary, depending on the currency.” For instance, CurrencyFair says that transferring from US dollars to GBP should take 0-1 business days, but transferring from USD to Hong Kong dollars can take 3-4 business days.

Limits
CurrencyFair doesn’t put any limit on how much you can transfer, though the bank that receives (or sends) the money may have some restrictions.

Types of transfers available
CurrencyFair makes bank-to-bank transfers for individual customers and businesses.
Read the full CurrencyFair review.

Sending Money Online: How Does it Work?

While there’s a lot of sophisticated technology behind online money transfer, the premise is this: instead of transferring paper money, you’re transferring data. The data then translates into money leaving your account and entering the recipient’s account. However, because you’re transferring data and not paper money, online money transfer is often instantaneous. And in many cases, all you need to complete the transfer is the recipient’s phone number or email address. 

Practically, in order to transfer money online, you’ll need to create an account with a money transfer service like XE, Azimo, or WorldRemit. Once you create an account, you’ll have different options for sending money. You can send online to a bank account or ewallet, or you can send paper money to a physical kiosk. In some cases, the recipient will need an account with the money transfer service in order to receive the funds.

Money Transfer Fees and Rates

There are 4 factors that determine the fees and rates of each online money transfer:

  • The company you use

  • How much money you’re transferring

  • Where you’re sending the money (local vs. international)

  • How you’re sending the money (bank account, debit card, credit card, etc.)

Unless you regularly transfer the same amount of money, you probably won’t know the transaction fee until you begin the money transfer process. However, if you’d like to get an idea of how much your money transfer will cost, many companies offer free estimates, like XE, Azimo, and WorldRemit.

How Long Does It Take?

Just like the fees and rates of transferring money depends on a few factors, so does the amount of time it takes. Sending money from your credit or debit card to someone else’s card or to a kiosk typically takes a few minutes, whereas transfers from/to bank accounts usually take 1-2 days. 

The discrepancy in transfer time is due to the banks themselves; when you transfer between banks, strict anti-fraud measures are implemented, which is why it takes longer for the recipient to get the money. 

Similarly, when you transfer money to international banks, in addition to anti-fraud measures, a time delay can result due to the difference in time zones, regulatory issues in each country, and other factors.  

While these delays can be frustrating, at least you know it’s because banks are trying to protect their customers.

How Much Money Can You Send?

Online money transfer services usually have limits on how much money you can transfer at one time or in the span of a certain time period. One of the reasons for these limits is for the companies to protect themselves and keep costs down; other reasons include fraud prevention and compliance with national and international regulations. 

While almost every money transfer service has limits, most offer some sort of premium service for regular, verified customers that includes higher limits.

Where Can You Send Money To?

When you transfer money, you can send to virtually anywhere in the world—and not only that, you can send to a recipient’s bank account, ewallet, or to a physical kiosk for pickup. 

Not only do people have friends and family around the world, but there are hundreds of thousands of workers who work in foreign countries and send money home to their families every month. For these workers, international money transfer is literally a lifesaver. 

How to Find the Best Money Transfer Company

Finding the best money transfer company means doing a little bit of online research. Reading unbiased reviews is the first step—doing so can help you weed out the scams from the legitimate services. 

If you’ve read the reviews and are debating between a few well-reviewed companies, you can then focus in on what’s important to you:

Rates and fees? If this is the deciding factor, you can use fee estimating tools to see which service will offer you the best rates for your transfer needs. 

Security? Choose a company that is known for its security features and one that will allow you to sleep well at night.

Fast transfers? If time is of the essence to you, choose the company that offers the fastest transfers.  

If one company offers better rates and another offers faster transfers, you can use each one to suit your needs for each particular money transfer. Just because you start out using one company doesn’t mean you can’t switch to a different company or use 2 simultaneously. Remember, you’re paying for the service, so you deserve to get the most out of it.