best way to send money internationally

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We will list the 24 best ways to send money internationally in this article.  In today’s World, everything is connected more than ever before. Air travel has become incredibly common in the last few decades, making it possible for A trip to visit family members in another country can be completed in a matter of days.

In addition, technological advancements such as the internet and social media networks have contributed to the perception that our vast planet has become a ‘global village.’ Currently, there are over a dozen communication applications in the mainstream market, and many more are under development. This has also greatly benefited the freelancing industry, with platforms such as Fiverr and Upwork becoming increasingly common. An individual can sell their skill to an interested buyer for a fixed price instead of working for a specific company.

No matter where they live. Besides buying services online, people can also purchase a lot of products through online stores. 

As people from across the globe become more connected, the need for methods to transfer money will also increase. Some needed a foolproof method of sending a portion of their salary to family members back home. Some companies needed a safe way to pay employees living in foreign countries. Families or individuals can use transferred funds to buy assets, invest in real estate, or repay loans.

HOW TO SEND MONEY INTERNATIONALLY: What are the top biggest money transfer companies in the World

The following companies are the largest money transfer companies around the World. Despite its size, money transfers are still growing. Money transfer transactions accounted for more than $64 billion in 2018. 

There is an expectation that this number will grow significantly and reach $143 billion by 2020 alone. However, there is a possibility that the coronavirus pandemic negatively affects this number, as remittances to developing The World Bank’s Alex Klopfer Hernandez stated, “We predict a further decline in remittances due to the high unemployment among migrants and the economic crisis.”

WHAT IS THE COST OF an international money transfer?

This question cannot be answered in a single way. The cost of transferring money varies depending on which company you use. Additionally, it can vary based on where you’re sending the money to or from, as well as how you’re paying for the transfer (i.e., credit card, cash, debit card, etc.).

Exchange rates between countries can also affect the cost of sending money. In general, you will find the best rates at companies that charge a flat fee across the board. We will discuss these companies later.


Choosing a money transfer company or whether to use a money transfer isn’t based solely on one main factor. There are several factors to consider.


If you plan to send money to another country, the exchange rate between currencies is extremely important. You are getting the most accurate exchange rate when transferring money abroad, 

The exchange rate can be found online. Visit at least three banks or credit unions to get the best rate. Make sure they all say the same thing about the rates. Make sure you send the money to a financial institution that offers the best exchange rate for you and whoever it is to whom you’re sending it.


Several companies can help you send a transfer if you only need to move a small amount of money. A business that specializes in large, professional transfers may be the best choice for you if you plan to transfer large sums of money at once. If at all possible, you will want to avoid using banks for international money transfers of extremely large amounts since banks often charge hefty fees for doing so.

Read Also: How to utilize InstaReM referral code.


Consider the fees associated with a money transfer when deciding whether to do it. Getting the money there quickly is probably a necessity if, for instance. 

Your daughter is about to be expelled from school, so you’re sending her $2000.

For example, if you’re sending $10 to your niece for her birthday, maybe you should skip the fee and just send it through the mail slowly


The market is flooded with services in 2019 that offer bank-beating rates – 

They are cheaper, faster, more convenient, and just as secure as your local bank. Probably at this point, you are wondering, “What is the best money transfer service?”

There are generally three types of money transfer services you can use instead of your bank.

1. Companies that offer remittance services

2. The peer-to-peer (P2P) model

3. Non-Peer-to-Peer (P2p)

Companies that offer remittance services

Money transfers are facilitated by these companies between immigrants who are working in one country, such as the United States, and sending money home to family members. Remittances have become a huge source of income for developing countries where there is little work available.

The peer-to-peer (P2P) model

Direct exchanges between one person and another are made possible by these companies. 

In most cases, people transfer funds directly from their bank accounts to another person’s bank accounts online or via their cell phones. 

Most of these exchanges are relatively small and do not attract the attention of financial institutions.


A non-P2P transfer is when a company transfers money to another country or when an individual transfers a large sum. Financial agencies and federal government agencies may be interested in these transactions since they often involve large amounts of money. 

Whenever large sums of money are transferred to a foreign country, additional steps must be taken.

The following are the top 24 best way to send money internationally.

1. Currency Fair

The company’s revenue for 2019 is eight million dollars (in millions of dollars).

In 2019, the company had 70 employees.

Over the last decade, Currency Fair has provided ex-pats with a simple and cheap means of moving money to and from their homelands. In a short period of time, this money transfer company grew into a global organization, boasting more than $10 million in exchanges.

2. Transfer Mate best way to send money internationally

The company’s total revenue in 2019 is $20 million (in millions of dollars).

In 2019, the company had 250 employees.

TransferMate was founded in 2010 and is part of TaxBack, a global financial services firm. Transferring money internationally has never been easier, simpler, or more cost-effective than this. In addition to reducing delays and costs, TransferMate aims to solve challenges faced by companies making cross-border payments.

In addition to securing licenses and managing regulations internationally, Transfer Mate collaborates with banks and regulators.

3. InstaRem

Money transfers overseas are made easy and simple with low costs and no hidden fees. We transfer money internationally to 60 countries fast and secure international transfers. With

InstaReM money transfer service, you can send and receive money internationally immediately.

InstaReM started in Singapore and expanded worldwide from there.

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Use Referral link for signup and Get 475 Bonus Points ($400 Points = $10)

2. Exciting $45 Signup Bonus:

On the first two money transfers, Use code GET45 Available for new customers only .

4. Azimo

Revenue for the company in 2019 (in millions of dollars): 33

In 2019, the company had 160 employees.

Azimo, a money transfer company founded in 2012, reaches more than 200 countries and territories around the World.

Financial services should be affordable so that everyone can access them. 

Azimo’s Android and iOS applications have almost a million downloads and 30,000 five-star reviews on Google Play and the App Store, respectively.

5. Currencies Direct

Total revenue of the company in 2019: $44.1 million

In 2019, there were 173 employees at the company

As a money transfer service that has been around for almost 15 years, Currencies Direct is committed to making money transfers the best they can be. Today, the Financial Conduct Authority authorized the company, and the World Economic Forum recognized it. Money awarded them the ‘Money Transfer Provider of the Year’ award in 2020.

6. Remitly

Total revenue for 2019 (in millions of dollars): 80

In 2019, the company will have 800 employees

Money transfer services are provided by Remitly primarily in the United States, the United Kingdom, and Canada. According to their company slogan, they are successful because their services are always fast, secure, and affordable. The company’s mobile app and website both allow users to transfer money around the World.


  • In countries where the service is available, recipients can pick up their money at any of the participating banks.
  • Payout options such as bank transfers, cash pickups, mobile wallet deposits, and home delivery
  • The exchange rate can be locked in when you place the order


  • There are some payment methods that charge high fees
  • Daily limits are too low

7. Skrill

Customers of online sites and forex traders use the Skrill payment service. Over 120,000 merchants around the World use Skrill’s services, which provides quick transfers with the ability to use both cryptocurrencies and traditional money transfers.


  • It is available in 200 countries
  • Transferring money to an online account is possible
  • You can easily send money to a phone number or email address linked to a bank account
  • Buying and selling cryptocurrencies is possible
  • A fast transfer speed
  • User-friendly interface


  • The fee structure is complex
  • Compared to other options, it can be more expensive

8. Ria Money Transfer

The Ria money transfer company has been in business for 30 years and offers money transfers to more than 149 countries from the US, Australia, UK, and Spain. You can send money through the company’s vast network of 397,000 cash transfer and payout agent locations as well as online. 

Remittance services provided by the company are regarded as reliable worldwide.

As a trusted provider with excellent online reviews and years of industry experience, With Ria Money Transfer, its customers can expect high-quality services.


  • With over 350,000 locations worldwide
  • Some locations offer home delivery
  • Debit/credit card payments are delivered instantly


  • Some locations have high transfer costs, especially if payment is made with a credit card.
  • Transferring money online has a low limit ($7,000 per month)

9. Xoom

In over 70 countries, Xoom lets you send money to overseas bank accounts, send cash for pickup, or have cash delivered to your doorstep. In addition to phone top-ups, the provider offers services in 35 countries, and this wide variety of services is part of the reason they are so well-regarded in the money transfer industry.

Paypal service Xoom has an online rating of 4.5 out of 5 on Trustpilot. The fast transfer times do come at a higher cost, but this is an excellent choice if instant money transfers are your top priority.



  • Our network covers 159 countries
  • Options for multiple payouts
  • Transfers that are quick


  • Some providers charge higher fees than others
  • Until you register for the service, you won’t be able to see the exchange rate.



Over 125,000 of WorldRemit’s reviews are 5-stars on TrustPilot. 

This company is rated four out of five by the BBB. It is possible to send money to more than 140 countries globally. 

Customers of WorldRemit can also send money from over 50 different countries around the World.

WorldRemit charges fees for sending money, but the fees are reasonable, and their exchange rates are extremely competitive. Several different sources of payment are also used by the company, including, but not limited to:

  • Google Pay
  • Apple Pay
  • Prepaid Cards
  • Debit Cards
  • Credit Cards
  • iDEAL
  • Trustly
  • Bank Account Transfers
  • and More!

WorldRemit’s customers love the fact that it offers several innovative ways to transfer money to its recipients. WorldRemit offers a variety of payment options, including a regular bank transfer, a cash pickup, a door-to-door method, an airtime top-up method, and a mobile payment option.

A cash pickup is exactly what it sounds like. Your recipient can physically pick up cash money from a WorldRemit employee with his picture ID and transaction reference at a trusted location. In most cases, pickups can also be arranged nearly instantly, 

Both parties find it incredibly convenient. Door-to-door delivery is similar to this, except the recipient receives their money in cash.

Top-ups of airtime are a little more abstract. To use a telecom network’s airtime, a person must buy credit every time they connect their mobile phone to that network. A person’s airtime is what gives them access to their phone’s features, such as data, text messages, voice mails, etc.

Adding credit to a prepaid cell phone is called “topping up.” WorldRemit customers can top up their own, or another’s phone. Transfers are usually instant.

Lastly, mobile methods of transferring work much like digital wallet services, such as PayPal Wallet or Google Wallet.

11. OFX Group Ltd

Revenue for 2019 (in millions of dollars): 103.61

The company’s total profits for 2019 are 11.47 million dollars.

In 2019, the company had 250 employees.

Ofx Group Limited is an online international payment service company based in Australia that offers money transferring, foreign exchange, and many other services.

The company has a very diverse clientele, with users around the World. Private and business clients can both use OFX Group Limited’s services, making it a popular choice.

OFX has been providing money transfer services for over 20 years and has processed over £67 billion in transactions to date, with an average Trustpilot rating of 4.4.

Our company has offices in over 155 countries, offering over 55 currencies, and has bank accounts in over 155 locations worldwide. You’ll also enjoy 24/7 customer service, low fees, and exchange rate markups with OFX.


  • A competitive exchange rate
  • Global banking network offers cheap and fast collection and delivery of funds through physical offices around the World.
  • The online platform and mobile app that is user-friendly
  • Customer service that is excellent and accessible


  • There is a $1,000 minimum transfer amount
  • Credit cards cannot be used to make overseas payments
  • Transfers on the same day are limited

12. World Remit

Revenue for the company in 2019 (in millions of dollars): 117.5

The company has a total of 1,000 employees in 2019

World Remit allows you to send money in a number of convenient ways to your family and friends.

World Remit specializes in mobile money transfers and is an online money transfer company. 

Each month, Over 180,000 money transfers are sent through the company’s international network. In the 1980s,

It is his philosophy for the business to assist people who wish to send money home to their families to make the process easier.


  • Over 150 countries are represented worldwide
  • Fast transfer speeds (90% of transfers approved in minutes)
  • Protect your money with a secure encryption system
  • Several payment options are supported, including debit/credit cards and bank transfers
  • We offer a variety of delivery options, such as cash pickups, airtime top-ups, and bank transfers


  • A fee structure that is complex
  • Exchange rate markups can be higher than competitors’

13. Money Corp

The company’s total revenue in 2019 (in a million dollars): 139.7

In 2019, there were 788 employees at the company

As a leading provider of international payments and foreign exchange, Money Corp is a popular choice for international money transfers. Their website boasts a diverse customer base, including global businesses, online sellers, importers, and exporters. London, United Kingdom, is the headquarters of the company, which was founded in 1962.

14. Payoneer

The company earned $300 million in revenue in 2019 (in millions of dollars).

In 2019, the company had 1,395 employees.

In today’s digital World, Payoneer, headquartered in New York, facilitates seamless cross-border payments for millions of businesses and professionals. Getting paid globally is just as easy as receiving payments locally for businesses, online sellers, and freelancers. As of today, it is one of the most popular options for freelancers to transfer money.


  • Wide presence in 200 countries
  • Payments between Payoneer accounts are free
  • Invoices can be customized, and payments can be requested from clients


  • A fee structure that is complex
  • Card payments can be quite costly

15. world-first (FOR BUSINESS TRANSFERS)

WorldFirst is another money transfer company based in the United Kingdom. Trustpilot gives it a four-star rating, and it offers many competitive advantages. 

It offers same-day and next-day transfers to many countries, and it offers customer service 24 hours a day, seven days a week.

In addition, if you transfer money to another WorldFirst customer, there are no transfer fees. However, if you transfer money to a recipient in another way, you will be charged fees. Despite the fees, many people love WorldFirst, as it has one of the largest pools of transferrable currencies, boasting 187 different currencies.

Currently, WorldFirst has over 400,000 individual customers and more than 150,000 business clients across the globe, and since the company was founded in 2004, 

Over 70 billion pounds, or roughly 90 billion dollars, have been transferred using the company as a facilitator.

As of February 2019, one of the biggest complaints about WorldFirst is that it no longer operates in the United States and no longer serves online customers from the United States. American customers can, however, switch to Omega’s new platform.

16. Wise (Formerly Transfer wise)

Wise has a TrustPilot Score of 9.1 out of 10 and is another safe and secure way to send money overseas. Six million customers in 59 countries send about $4 billion dollars through their company’s 12 offices around the World every month.

Fees for sending money through TransferWise do apply, but they are generally quite low. Some fees are as low as $1 a transfer, along with 10% of the total amount transferred. TransferWise is one of the best possible sites for transferring smaller amounts of money because of its low fees. In the end, though, other companies might be less expensive for transfers larger than $10,000. It is clear and upfront about all TransferWise charges, and there are no surprises or hidden fees.

You can also send money using TransferWise using a variety of available options. Direct wire transfers are possible; customers are able to transfer as much as a million dollars using this method.

Other options include debit and credit cards, direct ACH transfers from one’s bank account, and Apple Pay.

Additionally, this company offers next-day transfers, but not all transactions are eligible for them. It is possible for purchasers to transfer money through TransferWise at any time; however, the receiver may not have immediate access to the transferred funds. If, for example, a customer sends money on a Friday evening, 

TransferWise is appealing to many people because they use the actual exchange rate released by the government, and they adjust their exchange rate according to the change in the exchange rate. As a result, the purchaser does not pay an inflated exchange rate when transferring his or her money.


  • Fees and exchange rate margins are very transparent
  • A well-known and trusted transfer company
  • For 24 – 48 hours, offer guaranteed rates
  • Fast transfer times are available


  • It is impossible to pick up cash
  • An emphasis on online services can make troubleshooting difficult at times
  • There is less support for larger transactions

17. Stripe

Company revenue for 2019 (in millions of dollars): 450

In 2019, the company will have 2,500 employees

Stripe is a technology company used by businesses of all sizes. Startups and public companies alike use Stripe to manage their online businesses and accept payments. 

Stripe is becoming increasingly popular as a payment method on e-commerce sites as a direct competitor to PayPal.

18. MoneyGram 

The total revenue of the company in 2019 was 1,200 million dollars

In 2019, the company will have 2,200 employees

Worldwide recognized as a peer-to-peer payment and money transfer company, MoneyGram is a household name. MoneyGram allows families to send money quickly and affordably in 200 countries and territories, 70 of which are digitally enabled.


  • 200 countries are covered by the network
  • There are different payout options
  • Transfers that are quick


  • It is usually more expensive than many other providers
  • Charges that are variable

19. Euronet 

The company’s total revenue in 2019 was 2,750.1 million dollars

The company’s total profits in 2019 (in millions of dollars) were 346.7

Total assets of the company in 2019: 4,657,7 million dollars

In 2019, the company will have 7,700 employees

Euronet is an industry leader that offers financial transaction processing services in more than 170 countries. It offers a variety of services, including ATMs, credit/debit services, currency exchange, and other electronic payment processing services, based in Leawood, Kansas

20. Western Union 

In 2019, the company had total revenues of $5,292.1 million (in millions of dollars).

The company earned 1,056.3 million dollars in total profits in 2019

The company’s assets in 2019 are $8,758.5 million (in a million dollars).

The company had 11,500 employees in 2019

The World’s most recognizable money movement and payment services company are Western Union, which offers multi-currency, real-time money transfer services. Families, businesses, and communities can move money across borders with Western Union. Transferring money between bank accounts with this service is typically less expensive than sending money to be deposited in a bank account. The company is based in Denver, Colorado.

21. PayPal 

Revenues of the company for 2019: 17,772 million dollars

The company made 2,459 million dollars in total profits in 2019

In 2019, the company’s assets totaled 51,333 million dollars

PayPal, an electronic commerce company that facilitates online payments tops the World’s 15 biggest money transfer companies. Xoom and Venmo are PayPal’s mobile payment services that let account holders transfer money using app-based mobile apps. PayPal lets customers establish accounts on the platform. Credit cards or checking accounts are linked to this account. The company was founded in 1998 in San Jose, California. PayPal allows users to pay with any of their available payment options, 

Payment information can be protected without sharing any financial information, such as credit card numbers, bank accounts, and PayPal itself.


Like our runner-up, XE has become a global name in international money transfers after receiving five out of five stars on Trustpilot.

XE offers all of its features in one place, unlike some of the other money transfer companies on the market today.

The company offers same-day transfers to most of the 170 countries they serve, and they can convert currency into any other available currency. Their exchange rates consistently rank among the best on the market, and one of the things that consumers like most about them? 

Sending money is free! There are no additional fees!

Their website allows users to monitor their accounts at any time, day or night, 24 hours a day, seven days a week. Each user has a private account, 

Consequently, anyone can access their account day or night, every day of the week.

XE receives over 285 million visitors per year and has had over 65 million app downloads since its launch. More than 74 billion dollars was transferred securely and quickly using their service in 2015 alone, as they work with more than 200 of the leading global brands, including Apple, Walmart, Google, and Amazon.

XE has been authorized by the FCA and is protected by Norton Security. Users are able to create free accounts for their sites for personal or business use. Each customer’s money transfer is tracked 24 hours a day.


  • A name is known for its trustworthiness in the industry
  • Over 170 countries and 60 currencies are available for transfers
  • There are no transfer fees
  • Account management is available 24/7


  • Card payments are not supported
  • The exchange rate markup can be higher than that of other providers.


Send is another company with a 5-star customer rating on TrustPilot, which is based in Australia but provides services around the World. By comparison, Mozo, one of Australia’s leading financial comparison platforms, awarded them the ‘Best value international money transfer provider’ this year. Send specializes in helping clients move from country to country with high volume transfers at very competitive rates, zero fees, the ability to book transfers 24/7 and same-day transfers, as well as local support from a team of account managers that can be contacted for assistance.

It’s easy to set up an account with Send, free, and you’re under no obligation once you’ve done so. Upon the verification of your identity, one of their representatives will contact you to discuss and then process

You can self-serve on our secure 24/7 payment platform if you don’t want to speak with anyone about your transaction.

Send is trusted by some of Australia’s largest international relocation and removal companies, 

Send’s services are recommended to their clients to safely, securely, and fast international money transfers.

ASIC regulates us, and we are also registered remittance providers with AUSTRAC, members of the Australian Financial Complaints Authority, and holders of an Australian Financial Services Licence (AFSL) number 509635.


  • TORFX, a transfer company based out of the United Kingdom, has also been rated five stars on Trust pilot. 
  • Additionally, the company has won a few awards, such as the Money facts Consumer Awards for Best Customer Service and Exceptional Money Transfer Provider, which it has won four years in a row. 
  • TORFX does not charge any transfer fees, just like the two companies above. They also offer great exchange rates.
  • TORFX also offers a simple process for establishing an account. A new account can be created in just a few minutes. 
  • Following the agreement of the rate, you will receive a confirmation, and you will need to provide your agent with information about the person who will receive your money on the other end of the transfer. 
  • It is safe and secure, which is one of the best things about TORFX. The FCA has also rated it as a Level One company by Dun & Bradstreet, the leading UK agency. 
  • Additionally, TORFX has segregated client accounts at Barclays, a well-respected and highly secure credit provider.


International money transfers or international bank transfers (also referred to as international wire transfers) involve sending money overseas to individuals or companies. Bank transfers or specialist money transfer services can be used to complete this transaction. You can receive the money electronically or in cash.

Most money transfers are made through SWIFT or Peer-to-Peer (P2P) payments, which have become increasingly common and mainstream as technology has evolved, resulting in lower fees and improved speed and security. According to the US Treasury, SWIFT handles $5 trillion in transfers every day, which gives you an idea of the market’s size.


A money transfer service specializes in what it does.

Money transfer services are in the business of transferring money – they do it all day, every day. In order to guarantee you receive the best exchange rate at the lowest possible price, these companies ensure their rates are competitive. 


However, you won’t be getting the best exchange rate, and you’ll most likely be paying more fees than you should. Money transfer companies do all the work for you. They have really streamlined the entire process, which can be completed securely online in minutes.


  • You need to use a professional money transfer agency in order to get the very best exchange rates. 
  • By avoiding fees and securing a better exchange rate than from your bank, you will save a lot of money.

Let’s look at an example.


  • Due to a large number of money transfer services now available, deciding which one to use can be a challenge. 
  • When choosing a money transfer company, take the following things into account:

Safety & Security: 

ASIC (Australian Securities and Investments Commission) regulates

The Australian online money transfer market and FinCEN (Financial Crimes Enforcement Network) regulate the United States online money transfer industry. 

The exchange rate is:

A service’s exchange rate is one of the most important factors to consider. When it comes to large transfers, the exchange rate will have a much greater impact. With a slight improvement in interest rates, you can save thousands of dollars. 

In the example above, if you sent $10,000 (USD) to the United Kingdom (GBP) at a 0.79 exchange rate, you would receive £7,900. If the exchange rate was 0.81, you would receive £8,100. If you’re transferring larger amounts, you can see how much difference a slightly better exchange rate makes. 

The transfer fee is:

The fee associated with transferring money from one currency to another is this. These may be flat fees, a percentage based on your transfer amount, or a fee determined by your choice of the transfer method.

The fee will usually be higher. When using a money transfer provider, it is best to use your bank account. Some services may even offer free transfers!

The transfer speed is:

It is important to consider how fast . your money will be deposited in your receiving account after the money transfer. An average wait time is between a few hours and five working days. A service with fast transfer speeds may be best suited to your specific needs.

The amount received was:

It is arguably the second most important factor after the exchange rate. You will receive this amount directly into After fees have been applied, your bank account. 

The user experience: 

The service should be easy to use and quick, especially if you plan on making frequent transfers. Customer service should also be excellent if you need assistance.

We have carefully selected our recommended companies based on all of these factors, as well as their proven track record for providing outstanding customer service.


When comparing companies that could transfer your money, there are a few additional factors to consider 

Internationally, in addition to the two big comparisons already mentioned – transfer fees and exchange rates. The first one is the overall cost of the transfer. After the exchange rate is taken into account, the transfer fees and any additional fees are added; this is the total amount. Furthermore, you can check online to see if these businesses are having any special promotions or 

Identify any coupons you can use to save money.

It is also important to consider how long it will take the money to reach the intended recipient. Transfers can take minutes with many companies; however, transfers can take longer depending on the country, the amount of money being sent, and other factors. It is important to find the length of time that will work best for you and the second person.

Review customer reviews of the companies. 

How did customers rate each company’s customer service? Are the reviews generally positive? Was the service fast, reliable, and safe? Before choosing a final company, you should find out all these things.


  • If you’re wondering exactly how long it will take to transfer money, then you can expect a timeframe between 0 and 5+ days, depending on which type of service you’re using. International money transfers (IMT) generally take 1 to 5 days to process, bank to bank transfers take 2 to 5 days, and wire transfers take 1 to 5 days.
  • OFX and XE Money Transfer are among the fastest services, with an average transfer time of only 0 to 3 days.
  • Most people avoid using banks when transferring money due to the slow processing times as well as the high fees and hidden charges.


  • Even though this may be a repeated statement, it must be reiterated. 
  • Research and comparison shopping are the best ways to get the best exchange rate! If you’re planning to send money to a specific country soon or if you regularly send money to the same country, keep an eye on the market trends there.
  • The year when the rate is better. For researching these kinds of things, the internet is incredibly helpful.
  • You can find fixed or “locked-in” rates from companies that offer such promotions. You can find companies that promise to give you the best exchange rate, even if they must match the rate of another company.
  • Be cautious about sending money when the exchange rate is exceptionally poor. Additionally, it is sometimes possible to send same-currency transfers, which eliminates the need for an exchange rate altogether.


Following are the exact steps to take when sending money overseas via a money transfer company.

Step 1: Create an account on the company’s official website. Enter your basic contact information, such as your name and address.

Step 2: Make sure you are who you say you are. In order to prevent fraud, most services require you to verify your identity. The process generally involves uploading photos to prove your identity. Different companies have different requirements depending on what type of company you’re transferring to and how much money you’re sending.

Step 3: You can make your transfer online or by phone. It is now time to place your first transfer, which usually involves locking in the exchange rate. In order to hold the quoted currency exchange rate, the transfer must be completed within a certain timeframe. The rate will only be locked in once the transaction has been completed with other services. “Guarantee” is often used to describe the timeframe. You will need a bank account number. 

Step 4: Your bank account should be used to make the payment to the money transfer company.

Step 5: Tracking the transfer’s progress online or by email is possible.

Step 6: The transaction is complete as soon as the funds arrive in the recipient’s bank account (or in your account, if desired).


Here are some tips for saving on international fund transfers.

  • You should shop around. Find the best deal.
  • Don’t use international wire transfers if you’re sending small amounts of money that don’t need to arrive quickly.
  • Exchange rates should be double-checked.
  • Based on the amount of money you are sending, choose the company that offers the best deal.


We should first discuss the common fees associated with international money transfers.


Basically, this is the fee your bank, credit union, or other company charges for sending money to you. Say, for example, if you want to send $100 dollars, but the company charges a transfer fee of $15 dollars, the total price will be $115 dollars. The company will keep $15 for-profit and send $100 to your party in the other country.

It’s possible for these fees to be set rates, or they may depend on many factors, including where and how much you’re sending, how fast you need the money to arrive, and so on.


There is not much difference between transfer fees and sending fees. However, depending on which company you choose, you may hear them called by this name instead.


A currency exchange rate is a method of converting currencies between two countries. Accordingly, if the exchange rate between the United States and China is one dollar to 7.08 Chinese yuan, then your money will be converted at that rate. If you were to send $100 US dollars to China at this exchange rate, your second party would receive 708.05 Chinese yuan.


It is the recipient of the money who pays the fee, not the sender. The company that charges a transfer fee and a receiving fee is making money off both the person who transfers the money and the person who receives it.


  • Several federal laws protect international money transfers. Most companies, banks, and other institutions must provide specific information to purchasers before and after transferring funds over $15 dollars.
  • These companies are required to provide the following information, but not limited to:
  • Each step of the transfer will require the sender to pay taxes and/or fees.
  • Customers will use the current and exact exchange rate to convert their currencies.
  • Outside agencies may charge additional fees. The total amount the purchasers will pay.
  • The customer can also cancel any transfer transaction within 30 minutes after placing it. However, this right is waived if the second party has already received or picked up the transferred money.
  • Furthermore, customers have the right to request the ability to track their money transfers. Almost all companies provide this service, but there are a few that don’t. When a customer asks to track his or her transfer and is told that it is not possible, that person is free to cancel that transaction and take the transfer to another company.
  • Now that you know what international money transfers are and how to use them let’s discuss the ten best companies that offer international money transfers.


  • After reading the information above, you’re probably starting to conclude that using a money transfer service is a good idea, especially if you want to get the best exchange rate and avoid fees. Before making the right choice, various factors need to be considered, including fees, reliability, security, and service. Here are some benefits of using a remittance service provider over a bank.
  • Generally, banks are more expensive: you are not likely to get the same exchange rate from your bank as you can from a transfer specialist. A wire transfer fee, typically between $10 and $40, will also be charged by banks. 
  • You may also need to physically visit your local branch. For each and every transfer, there is often lengthy and tedious paperwork to complete. 
  • In order to make a wire transfer, banks normally require you to have an existing account with them. Bank wire transfers are much slower than online service providers.
  • Banks typically only transfer to other banks: You are frequently limited to transferring to the receiving bank when you make a wire transfer. With online money transfer services, you don’t have to deal with the same limitations, and you can choose the receiving account of your choice.
  • In general, online money transfer companies are more flexible for smaller transfers: while some banks can handle smaller transfers with lower fees, the exchange rate is often not as competitive as when using specialist providers.
  • The banks can’t compete with the highly competitive exchange rates and low (or zero) fees these specialist services offer.


It can be difficult to figure out which money transfer company is best for you when there are so many out there. Based on their international remittance volume, we’ve compiled this list of the top money transfer companies in the World to assist you. After reading this article, we hope you will have all the information you need to find your go-to company when transferring funds internationally. 


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