Key Players in International Money Transfers

Traditional money transfer carriers (Western Union, MoneyGram, Ria), digital-first fintech platforms (Wise, Remitly, WorldRemit, Revolut), big commercial banks, and rising mobile wallet services (Airtel Money) are all important players in international money transfers. These businesses enable cross-border funds, with a focus on speedier, lower-cost digital alternatives.

It is widely assumed that your regular bank is the most secure and efficient way to transfer payments internationally. This old adage is no longer relevant today, thanks to the rise of internet international money transfer providers. You now have more options with lower or no fees.

But how can you know you’re getting the greatest price? In this comprehensive remittance company ranking, we look at the many international money transfer organizations that advertise themselves as “the cheapest,” “the most convenient,” or “the easiest to use.” We also call out legacy providers who overcharge their customers.

1. Wise

Wise is a world-class option for money transfers overseas, one we recommend especially for small- to medium-sized transfers. Wise uses mid-market exchange rates — never charging you an exchange rate mark-up.

Available in the EEA, UK, US, Singapore, Japan, Australia, and New Zealand, we recommend Wise, especially for small- to medium-sized transfers destined for foreign bank accounts. It’s pricing is the most competitive for these transfers.

• Best for: small to medium sized bank transfers

2. Revolut Money Transfer

Revolut Money Transfer offers some of the best exchange rates in the world, especially for common currencies like the Euro. Revolut’s smartphone app is secure, easy to use, and transparent in terms of fees and exchange rates.

Revolut’s money transfer service can send money in 40+ currencies to 100+ countries. If you use the app to send money to another Revolut account holder, then you won’t pay transfer fees — plus it’ll be instant.

• Best for: converting money to Euros in-app

3. Remitly

Remitly is consistently one of the cheapest overall international money transfer companies in the world. This list is updated to take into consideration all of our data up to date, so you will be certain to get a good deal from Remitly. The international money transfer company also has an excellent Monito score, proving its worth in terms of security, customer satisfaction, and speed.

Available in Europe, North America, Singapore, and Australia, we recommend Remitly, particularly for transfers destined for cash pickup, as its pricing is extremely good for these transfers.

• Best for: sending cash pick-ups to the Philippines, India, Turkey, and more

4. Currencies Direct

Currencies Direct is an experienced, high-quality currency exchange service known for competitive exchange rates for large volume transfers.

Currencies Direct sets itself apart with its range of tools including forward, limit, and stop-loss orders, helping you to manage foreign exchange fluctuations and exchange rate risk. It’s often a good choice for sending money to the USA.

• Best for: sending large transfers to the United States

5. Western Union

Western Union is one of the oldest and most trusted international money transfer companies in the world. It offers its services in an impressive 200+ countries.

Read Also: How Cross-Border Payments Work: A Step-by-Step Overview

We recommend using Western Union’s online services as they are often cheaper than using their in-person stores. It offers competitive rates when sending from the US, UK, and EU and when sending to Turkey, India, and Mexico.

• Best for: sending from the US, UK, or EU to Turkey, India, or Mexico with westernunion.com

6. TransferGo

TransferGo is known for consistently offering the cheapest rates on international money transfers, mainly to European countries. The platform provides a wide range of pay-in and pay-out options.

It is excellent for transfers from the UK to Poland and the United States. It also specializes in transfers from Turkey to Ukraine, Turkey to the EU, and Poland to the UK.

• Best for: sending bank transfers to Europe

7. Paysend

Paysend operates an impressive network of around 110 receiving countries. With consistently low and competitive fees and exchange rates, Paysend is highly specialised in sending instant debit card or prepaid card transfers.

Paysend typically offers low fees for transfers from Mexico or Colombia, as well as transfers from the United States to Canada.

• Best for: sending money to debit cards and prepaid cards

8. OFX

OFX is widely recognized as one of the most reliable providers in the world. The platform enables customers to effectively manage foreign exchange risks through features like forward contracts, as well as limit and stop loss orders.

OFX offers competitive exchange rates, especially on transfers from Mexico and the United States. Furthermore, the company doesn’t charge any fixed fees. Customers have also reviewed OFX highly for its exceptional customer support and high level of professionalism.

• Best for: sending money from the US or Mexico, especially B2B

9. XE Money Transfer

XE Money Transfer covers a vast scope, supporting 130 countries and around 100 currencies. Additionally, XE is backed by Euronet Worldwide, which gives customers the peace of mind that their money is in safe hands. Most transfers are completed within one working day. It is a much-loved platform with many glowing customer reviews.

XE is very competitive for international money transfers to India from the United States or the UK. It’s also great for the popular UK to Poland corridor.

• Best for: bank transfers to popular countries like India and Poland

10. Atlantic Money

Atlantic Money is a very cheap option to send money abroad, charging no exchange rate margins. Instead, they fix a £3 (or €3) flat fee onto all international payments.

If you send over £300, then its usually an excellent deal. Atlantic Money supports transfers up to £1 million at a time.

Atlantic is often a good option when sending to and from the UK or Europe.

• Best for: large bank transfers to and from the UK and EU

Other Options

• WorldRemit

WorldRemit is an excellent choice for customers sending money to mobile wallets, which are instantaneous. Its one of the top options for sending money to the GCash app in the Philippines, for example.

WorldRemit ranks among the very top for sending money from Japan to the Philippines, from South Africa to Nigeria, and from South Africa to the United Kingdom.

It is also one of the top 4 services for transfers from the United States to Canada and for transfers from Malaysia to India.

• Best for: mobile wallet transfers to Philippines, Nigeria, UK, Canada, India

Ria

Ria is a decent money transfer service with a long history and a vast network of 447,000 agent locations across 160 countries, offering no minimum transfer amount and various pay-in options.

However, there are some drawbacks: low maximum transfer limits ($2,999 per transfer, $7,999 per month), relatively high fees — especially for credit card or cash payments — and availability limited to transfers from the US, UK, Canada, and Australia. Exchange rates also vary depending on the pay-in method, which can increase costs. Ria tends to be more expensive and less flexible than competitors.

Xoom

Xoom, a part of PayPal, offers a good variety of pay-in and pay-out options with fast, easy transfers to many destinations worldwide. However, Xoom often charges huge margins and extra currency conversion fees, effectively cheating customers on exchange rates.

It is rarely the cheapest choice and is available from a limited number of origin countries. Additionally, Xoom does not disclose its exchange rate margin, with around 74% of its fees hidden, making it difficult to know the true cost upfront.