Top 10 money transfer services

Using a service that charges lower fees, you can move money worldwide for less. Compare these businesses, whether you want to send money abroad today or on a daily basis, to find the best price. Below is a list of money transfer services you can compare:

TransferWise Money Transfer

Transfer fees Varies

Transfer funds Online & in app

Transfer options Single payments only

TransferWise is a new kind of international money transfer service that looks to make our services fit for the 21st century. As it is now, money sent overseas costs a fortune, because banks mark up the exchange rate. We give you the real exchange rate — so you’ll never pay a markup again. That means your transfer could cost up to 8x less than with a bank. And most transfers take less than 2 days. Join over 5 million people who save.

Read our: TransferWise review or Make TransferWise Money Transfer Now

 OFX Overseas Money Transfers

Transfer fees £0

Transfer funds Online, by phone & in app

Transfer options Single & regular payments

OFX is a leading provider of money transfer services, foreign currency exchange and business travel in Australia, New Zealand and the UK. Our award-winning OFX Global Money Transfer service allows people to move money easily and securely between over 120 countries. Used by thousands of customers worldwide, OFX offers an array of products, competitive foreign exchange rates with zero fees to save you money.

Read our: OFX money transfer review or Make a transfer with OFX

TorFX Currency Transfer

Transfer fees £0

Transfer funds Online, by phone & in app

Transfer options Single & regular payments

Fast, free currency transfers from the UK’s International Money Transfer Provider of the Year at bank-beating exchange rates (2016, 2017 and 2018). Transfer amounts of £ 2,000 with your Personal Account manager or 24/7 online over the phone.

Read our: TorFX review

Currencies Direct Overseas Money Transfers

Transfer fees

£0

Transfer funds Online, by phone & in app

Transfer options Single & regular payments

Tariffs for bank-beating, no fees. Speak and maximise your transfers with a currency expert. 2016, 17 &18 MoneyAge Award Winners. Alerts for free rates. More than 325,000 customers on TrustPilot, rated 5*.

XE Money Transfer

Transfer fees £0

Transfer funds Online, by phone & in app

Transfer options Single & regular payments

Refer a friend to XE Money Transfers and earn a £25 Amazon.co.uk voucher. T&Cs apply

Read our: XE Money Transfer review or Make A Transfer With XE now

Global Reach Currency Transfer

Transfer fees £0

Transfer funds Online & by phone

Transfer options Single & regular payments

Global Reach holds a 5* Trustpilot rating, the Gold Trusted Feefo award, and provides an award-winning online platform. Customers benefit from easy, secure and secure money transfers without account fees and competitive exchange rates.

Moneycorp Money Transfer

Transfer fees £0

Transfer funds Online, by phone & in app

Transfer options Single & regular payments

Simple, safe and secure overseas transfers from a Feefo Platinum Trusted award-winning service. Get a free account, free transfers, and competitive rates through your personal account manager or through your 24/7 online account.

Currency Solutions Currency Transfer

Transfer fees £10; £0 on £3,000+

Transfer funds Online & by phone

Transfer options Single & regular payments

Rated as excellent on Trustpilot, with over 30,000 customers since 2003. Transfer over the phone with a dedicated currency expert or through the simple and secure online platform. Transfer fee free from £3,000.

Azimo International Money Transfer

Transfer fees Varies

Transfer funds Online & in app

Transfer options Single payments only

Zero fee on your first two money transfers. Fast, safe and secure money transfer to over 195 countries worldwide. 

See our review on Azimo

What is a money transfer?

Faster, easier and safer to use than cash, money transfers are a great way to send money abroad. When you’re sending money from the UK, you’ve got plenty of options too – from online global money transfer services to mobile apps and even shopfront cash collection points. Once you’ve sent your international money transfer, banks will exchange the money at the interbank exchange rate plus a small fee.

This can sometimes represent better value for money than exchanging currency at the airport on arrival or using ATMs in your destination country. An foreign money transfer may often be received by whom you give it to as cash in person, rather than deposited into a bank account. If you use a global money transfer service like Moneygram or Western Union to transfer money overseas, that’s typically what happens.

How to do a money transfer

The first thing to do when you’re planning a money transfer is to compare exchange deals. Using the table above, you can do your international money transfer and currency exchange comparison. There are many ways to send money overseas. If you have been quoted on an exchange rate by a bank or money transfer service, make sure the rate is exclusive of any charges that need to be paid.

Also confirm that any charges will still apply, even if you choose to do your foreign money transfer in person at a branch or ATM, rather than online. You can use our table above to compare the costs of popular foreign money transfer services before deciding which one is best for you.

How to get the best money transfer deal

Using our comparison table of international money transfer and currency exchange. It can help you locate the best money transfer firms so that you can move money from the UK to another country abroad. You can compare the fees and rates of a few different money transfer services and apps before you begin an international money transfer. You’ll find the best money transfer deal that way. The cost of sending cash abroad is dependent on a variety of factors, including:

  • How much money you would like to move overseas
  • The current rate of trade
  • Additional fees for money transfers

Depending on the company or app you are using, and the country you are sending money to, money transfer fees can vary. The fees and prices between various money transfer companies may also differ a lot. That’s why comparing money exchange deals is so critical.

How else do I transfer money overseas?

There are plenty of ways to transfer cash overseas. It will rely on a few factors if you’re searching for the easiest and cheapest way to send money abroad. This includes how fast the money needs to be sent, and how much you need to move. Depending on these variables, the offers you’ll be given can differ.

International bank transfer:

This is often referred to as wire transfer. It’s where, using an international bank account number (IBAN) and/or SWIFT code, you transfer money abroad to another bank account. The charges and fees vary from bank to bank. Some banks allow you to transfer cash online or via their app globally, but some need you to go to a branch. No wire transfers are protected by this comparison. If you want to make an international bank transfer, talk directly with your current account provider.

Apps for money transfer:

You can do an online money transfer using an app. It’s the fastest way to swap currencies. On iOS or Android, you can download an app such as Paypal, OFX, Transferwise or Venmo. Then you just link it, like a bank account, to a source of money. At the click of a button, you can then transfer money abroad.

Agents for Money Transfer:

The initial way to send money abroad is this. You only visit a Western Union or Moneygram agent to do this and transfer money abroad to another agent in the world somewhere. Then the receiver can go and collect the cash. This can be easy – often, within seconds of sending the money, they can collect it.

Charges for Money Transfer

You’ll need to look closely at the fees, commission and exchange rates as you compare foreign money transfer deals. The fees and rates can vary, as described before, depending on how much money you send and the country you send it to. Often both the sender and the recipient will be credited with the fees. Fee-free money transfers are advertised by some money transfer companies. But you need to look at the exchange rate closely. You’ll discover that various money transfer companies offer various exchange rates. Typically, this is because many money transfer companies mark up the exchange rate instead of charging separate fees for cash. When comparing money transfer businesses, you think about how much foreign currency you really get after charges and fees.

Check out the article all about money transfer fees.