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Last updatedOctober 2021

Best Money Transfer Services October 2021

Send money online, save on bank fees

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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BestMoney Total Score

Our product scores consist of a combination of the following 3 components:

TrustPilot Score

Trustpilot is a trusted third-party consumer review website open to anyone looking to share a business review. The BestMoney Total Score will consist of the brand’s score on TrustPilot. If a brand does not have a TrustPilot score, the BestMoney Total Score will be based solely on the Click Trend Score and Products & Services Score (read below).

Click Trend

BestMoney measures user engagement based on the number of clicks each listed brand received in the past 7 days. The number of clicks to each brand will be measured against other brands listed on the same page and device (desktop, mobile, or tablet). Therefore, the higher the share of clicks a brand receives, the higher the Click Trend Score. BestMoney accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.

Products & Features

BestMoney’s editorial team researches and reviews financial products based on factors such as: range of products and services offered, ease-of-use, online accessibility, customer service, special awards, and more. Each brand is then given a score based on the offerings in each parameter. The specific parameters which we use to evaluate the score of each product can be found on its review page, which is updated every 3 months. If the editorial team cannot locate information relevant to a brand's Products & Services Score, it will not be included in its calculation.

Editorial Reviews

Read all reviews
Our Best Overall Choice
Most Popular on BestMoney
XE
XE
Transfer directly from your bank account
  • No fees, competitive exchange rates
  • Minimum transfer: none
  • Transfer time: min. 1-2 hours
  • Track live rates on the XE website and app

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, companies, banks, 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. 

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 MoneyGram, Western Union, or TransferWise. 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 versus 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 fee estimates, like MoneyGram, Western Union, and TransferWise.

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.

Since each service has its own transfer limits, it’s up to you to do some research if you need to send a large sum of cash. 

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 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.

Western Union Disclaimer

*Funds may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination country, currency availability, regulatory issues, identification requirements, Agent location hours, differences in time zones, or selection of delayed options.