International Money Transfer Comparison for 2023 [Safest & Best]

Welcome Money Transfer Comparison: a site wholly dedicated to reviews and comparison of international money transfer companies, and specifically – currency brokers, geared at large sum transfers.

We help customers understand how much they are actually paying, and figure out which is the best way to transfer money internationally for them.

➡ 🏆 Best International Money Transfer Services

📖 The Best Way to Transfer Money Internationally?

When looking to send money internationally, there is a key component you should be aware of.

The exchange rate markup.

This is the difference between the rate your bank or provider is giving you and the actual rate you can achieve.. A hidden fee that could cost you an arm and a leg.

Specialised providers, known as money transfer services, offer better rates for international transfers along with a superior level of service compared to banks.


There are so many of them!

We have covered more than 80 money transfer companies on Money Transfer Comparison and it is still an ongoing process.

Questions like:

❓ “What are my options?”

❓ “How do I know which one to choose?”

❓ “What should I even be looking at?”

❓ And – “How do I use this service”

Are thoroughly addressed through our many guides.

Top 10 Money Transfer Companies

  • Top-rated money transfer companies on MoneyTransferComparison for December 2023
  • When we compare international money transfer services, our focus is on large international transfers.
UK EU USA Currencies Direct: Best Overall for International Money Transfers
1 Canada Square, Canary Wharf, London E14 5AA, UK
97.8% Editorial rating
7,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent
Why Them?
  • 96% Positive Feedback from Customers, Since 1996
  • Service Oriented - Specialising in Large Transfers - Friendly Dealers
  • Very Competitive Rates, No Wire Fees
+Read more
Currencies Direct
Currencies Direct: Best Overall for International Money Transfers
Editorial rating
UK Australia EU TorFX: Strong Guidance and Staff
Pz360, St Mary's Terrace,Penzance, Cornwall, TR18 4DZ, UK
93.4% Editorial rating
5,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent
Why Them?
  • HQ Outside of London - Lower Staff Costs Rolled Over to the Client
  • Quick Onboarding Process and Highly Professional
  • Trading Desk with 100+ Years of Experience
+Read more
TorFX: Strong Guidance and Staff
Editorial rating
UK EU USA UAE moneycorp: Oldest and Most Reputable Foreign Exchange Service
Zig Zag Building, 70 Victoria St, Westminster, London SW1E 6SQ, UK
93.2% Editorial rating
7,000 Client Reviews
Minimum transfer:
£50 / €50 / $50 or equivalent
Why Them?
  • Providing FX Services since 1979
  • Very Recognisable Brand with Excellent Reputation - £36.9in Transfers Annually with Offices in Every Continent
  • Business Specialists
+Read more
moneycorp: Oldest and Most Reputable Foreign Exchange Service
Editorial rating
UK Spain Key Currency: Up and Coming Currency Broker with Local Presence UK/Spain
Local British Offices:
St Piran House, Technology Park, Heron Way, Truro TR1 2XN, United Kingdom
90.8% Editorial rating
800 Client Reviews
Minimum transfer:
Why Them?
  • Fastest Growing UK Currency Transfer Provider
  • Strong Onboard Team, Get an Immediate Callback
  • Recipient of Multiple Industry Awards
+Read more
Key Currency
Key Currency: Up and Coming Currency Broker with Local Presence UK/Spain
Editorial rating
UK EU Canada Corpay: 99% Positive Client Feedback
20 Wood St, London EC2V 7AF
90.6% Editorial rating
4,400 Client Reviews
Minimum transfer:
£1,000/€1,000 or equivalent
Why Them?
  • 99% of its Past Clients Gave the Firm a Positive Review
  • Strong Global Reach with Offices in UK, Europe, and Canada
  • More than Two Decades of Experience
+Read more
Corpay: 99% Positive Client Feedback
Editorial rating
UK EU Brazil Currency Solutions: Best Money Transfer on TrustPilot
21 Queen Elizabeth St, London SE1 2PD
90.4% Editorial rating
1,900 Client Reviews
Minimum transfer:
Why Them?
  • Best Customer Satisfaction Score on TrustPilot
  • Welcoming and Clear Website, Easy to Sign Up
  • Excellent Currency Transfer Rates
+Read more
Currency Solutions
Currency Solutions: Best Money Transfer on TrustPilot
Editorial rating
Australia UK EU USA New Zealand OFX: The Publicly-Traded Money Transfer Company from Down Under
Level 19, 60 Margaret St, Sydney, NSW 2000, Australia
90.4% Editorial rating
1,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent
Why Them?
  • Traded Publicly in Australia
  • £20bn Turnover per Year
  • Ultra Professional
+Read more
OFX: The Publicly-Traded Money Transfer Company from Down Under
Editorial rating
UK Halo Financial: Excellent Online Platform and Support
Battersea Studios 2, 82 Silverthorne Rd, Nine Elms, London SW8 3HE
87.3% Editorial rating
100 Client Reviews
Minimum transfer:
Why Them?
  • Feefo 2020 Platinum Trusted Provider
  • Excellent Website and Online Flow
  • Highly Professional
+Read more
Halo Financial
Halo Financial: Excellent Online Platform and Support
Editorial rating
EU UK USA Australia Wise (Previously TransferWise): Valued at £10bn
17 Avenue Marnix, 1000 Brussels, Belgium
86.8% Editorial rating
32,000 Client Reviews
Minimum transfer:
No Minimum
Why Them?
  • Largest Money Transfer Provider of its Kind
  • Fully-Online Journey
  • Transparent Pricing
+Read more
Wise / TransferWise
Wise (Previously TransferWise): Valued at £10bn
Editorial rating

For Ecommerce and Business Clients (Not Accepting Private Clients)

UK Australia Hong Kong Singapore Worldfirst: Best FX Rates Online
Millbank Tower, 21-24 Millbank, London, SW1P 4QP, UK
95.4% Editorial rating
7,000 Client Reviews
Minimum transfer:
£1,000/€1,000 or equivalent
Why Them?
  • Best Rates for Business Transfers
  • Authorised by 6 Global Regulators
  • Asian Currency Specialists
+Read more
WorldFirst Money Transfer
Worldfirst: Best FX Rates Online
Editorial rating

How to Use a Money Transfer Service

The most important thing to understand before using an international money transfer service is how it works.

Luckily, such services work in a very straight-forward manner that is easy to understand.

With money transfer companies, you can choose whether you want to transfer money online, or over the telephone.

Some companies are even glad to meet face-to-face.

Below is an outline of the process:

  1. Find a company you want to try.
  2. Leave your email and phone and hit “Get a Quote”.
  3. Get access to rates online / over the phone.
  4. Supply more details about yourself prior to trading.
  5. Book the transfer, online or through the phone.
  6. Know EXACTLY how much the recipient will get.
  7. Fund the transfer through a domestic bank transfer.
  8. Kick back and relax while your money is being sent.

Is It Safe? 🏦

A common question about currency transfers through a third-party non-bank provider is simply “is it safe”?

We all know bank transfers are safe but do currency brokers provide the same level of safety?

To assess whether a money transfer company is safe, you have to know more about how they are regulated.

In the UK, the Financial Conduct Authority (FCA) ensures that regulated companies in the foreign exchange space adhere to certain regulations and compliance requirements.

This includes segregating customer funds from their own, reporting any compliance breaches, and demonstrating their compliance policies and controls annually.

In other countries, foreign exchange companies must be authorised by local regulators such as FinCEN in the USA, or ASIC in Australia in order to operate.

The best money transfer services, including all those listed in our top 10, are regulated in the UK by the FCA. The vast majority of them are regulated in multiple jurisdictions by multiple regulators.

In addition to the above, we have only featured money transfer services who

  1. Have been around for a long time
  2. Have had sufficient amount of reviews for their service
  3. Have had a perfect customer reviews / complaints record
  4. Are trading massive volumes of money each year (billions or more)

Have a look below where we compare the top services to learn more about each options.

If you still have questions or doubt after going through our comparison…

Have a look at the massively detailed reviews we wrote for each service provider.

How To Compare Money Transfers?

International money transfer comparison can serve as a useful tool before choosing the best company to use.

Factors to consider include safety and regulation, customer reviews, functionality, quality of service, and ultimately – money transfer rates.

There is no “one fits all” when it comes to currency transfers.

Every customer has their own needs, and each company has its own pros and cons. ⚖️

About Money Transfer Comparison:

For the above reasons, we have covered more than 90 service in our guide and you can access all reviews here.

We have spent more than 10,000 hours on putting this site together and have been working relentlessly to make it better since 2014.

We boast using authors with specific industry experience, knowledge and expertise – some of them worked for money transfer services and banks themselves.

Money Transfer Comparison is the ultimate money transfer review site for those reasons and we plan on continued expansion in 2024.

We may receive compensation from some of the providers featured here as detailed on our affiliate disclosure.

Do all foreign exchange companies offer sending money internationally?

‘Foreign exchange companies’ is a holistic term referring to every company dealing with foreign exchange.

Not all foreign exchange companies offer international transfers as part of their offering.

A number of foreign exchange companies, such as a bureau de change, are focused on cash exchanges. Generally, bank-to-bank currency transfer services will not handle cash at all.

Across Money Transfer Comparison, we have stuck to services that allow you to transfer money overseas to a bank account.

So the answer is, no, not every foreign exchange company offers international transfers, but the ones listed and reviewed on this website certainly do!

Here are the most popular countries that our readers send money from and to:

Are money transfer companies limited to operating in the UK?

In the past, money transfer companies were by-and-large confined to UK citizens and businesses.

🇬🇧 🇬🇧 🇬🇧

This is not the case anymore.

Many of the leading companies have expanded globally in an impressive way, even after brexit.

If we look at a few examples…

Currencies Direct can serve customers in the UK, Europe, USA, South Africa and Canada.

OFX can serve customers in the UK, Europe, USA, Australia, New Zealand, Canada (and more).

Moneycorp can service customers in the UK, EU, USA and Canada.

XE can service customers in the USA, Canada, UK, and EU (and more).

Leading money transfer companies have expanded greatly over the decades and it should be possible to find a company helping you wherever you are on the globe.

We also cover money transfers outside the UK, as follows:

Is it difficult to switch from your bank to a money transfer service?

No, it is actually quite easy to sign up with an international money transfer service.

Most providers have streamlined registration processes that can be completed online. In the UK, individuals can simply fill out the necessary details and upload documents to verify their identity through the provider’s app or online system.

The account is usually quickly approved.

Customers in the EU and Australia should also find the registration process straightforward.

For customers based outside of these regions, there may be a little more back-and-forth until they are authorised to make payments.

The process won’t be as cumbersome as opening a bank account, as money transfer companies use time-saving technology, unlike banks.

However, it might consist of a few emails exchanged with requests for documents or questions relating to the source of financing.

Signing up as a business

For businesses, whether UK based or elsewhere, there could be a little more back and forth, and it’s quite dependent on the company’s structure.

Businesses and corporations will probably already be aware of KYC requirements and those of the best money transfer services are not different.

Prior to enabling you to make international business money transfers, it’s likely that a money transfer provider will ask for:

  • The purpose of your transactions, i.e. are you paying staff, paying overseas suppliers, conducting FX for treasury purposes.
  • Details of the type of business and industry you operate in.
  • The source and origin of funds that’s used to settle your transfers.
  • Copies of articles of association or, if applicable, recent and current financial statements instead.
  • The expected level of trading that will take place, usually estimated volumes over a year.
  • Identification and verification of 1-3 directors of the business and ultimate beneficial owners (known as UBOs – usually when they own over 25% of the business registering for an account).


Why Are These Our Top 5 Choices?

Out of 90 services reviewed, we have picked only 5 as our absolute top companies in this space.

This is our reasoning.

1. Currencies Direct

Currencies Direct

Currencies Direct is the best all-round provider in our book.

Established as early as 1996, Currencies Direct is, at its core, a traditional currency brokerage.

This means they offer a personalised service to every client, seeking to add value with their currency expertise and FX hedging tools.

However, the firm has grown into so much more in its 25+ years of trading.

Nowadays, Currencies Direct has offices in multiple continents, including as many as 20 in the EU.

They also boast a state-of-the-art online trading system, which we believe to be one of the best in the industry.

On top of that, it’s a large firm with thousands of highly positive reviews online.

It has received many awards and is consistently rated as the best money transfer service across the industry.

Click here for the complete Currencies Direct review.

2. TorFX


TorFX is another broker who is experiencing steady growth in the UK and Australia, transferring billions each year for its customers.

The company has tens of thousands of customers with excellent feedback.

Including, some high profile larger British corporations and highly successful smaller businesses.

It is highly reputable, operating since 2004, with highly experienced and professional staff who have won them multiple awards, including the MoneyFacts Customer Service Award.

Click here for the complete TorFX review.

3. moneycorp


Established in 1962, moneycorp is a big name in the foreign exchange industry and the oldest of all companies in this comparison.

Since inception, it has been consistently growing its operations and expanding its customer base. Last year alone, it processed more than £70bn.

The firm specialises in business FX, enabling customers, including SMEs, to hedge their risk and plan their FX strategy correctly.

Click here for the complete moneycorp review.

4. Corpay

Corpay logo

Corpay is a large conglomerate which recently acquired the popular UK brand Global Reach Partners.

With Corpay, you get the advantage of working with a very large company, with many capabilities, alongside the level of service you would usually associate with a boutique broker.

In 2022, the firm received the highest possible Platinum Service Award from the mega review site Feefo.

Click here for the complete Global Reach review.

5. Key Currency

Key Currency Logo

Founded in 2015, Key Currency is the youngest of the bunch, but is enjoying a great deal of popularity and growth.

The firm is very service oriented and has 4.9/5 stars on TrustPilot, higher than any other company.

Additionally, it boasts the most informative website out of every money transfer company out there.

Click here for the complete Key Currency review.

Why is the UK the centre of the foreign currency industry?

The UK is, without doubt, the epicentre of the money transfer industry.

But why did it grow there, rather than somewhere else?

The UK has the largest number of expats abroad, the largest number of property investors (or those who have a second home overseas) and is also a highly multicultural and global country.

Being an Island, most of its businesses, including small businesses, are trading internationally, and of course it is very wealthy (and remains a centre for foreign investors to invest in).

Additionally, the UK is ranked as one of the most fintech-friendly countries in the world, with more than 1,600 fintech firms and second to only the US in financial technology investment, with $9.1bn of investment in 2022.

The UK is a top destination for fintech investment due to its strong financial services sector, favourable time zone and English being the native language.

In addition to this, entrepreneurs have comparatively good access to investment and capital, and a globally respected regulatory framework, as set out by the FCA.

Most money transfer services in the UK are based in London due to its reputation as a business epicentre, the diverse and skilled workforce it attracts, and its transport connections.

The city also has a long history of being a global finance hub, which has made it particularly popular among currency brokers.

In 2019, global daily trading of FX volumes was $6.6 trillion, with London accounting for $2.86 trillion, the most out of any city in the world. The Bank of England reported in July 2022 that London was still processing $3.27 trillion a day in April 2022, a record survey high.

Can I also use a money transfer company to receive money?

Many people need to get money into the UK. Almost as much as they need to send money out of the UK.

When receiving overseas inheritance, selling property abroad or simply being paid by a foreign employer, a currency exchange is often required.

Money transfer companies allow you to receive money from overseas as well.

You will get the bank details for a currency account in whichever currency you wish, and you can then pass these details onto the sender

Money will be sent into that account, the service provider will exchange your funds, and forward the money to an account in your name.

The process can often look as follows:


process of sending with currencies direct

Moreover, multi-currency accounts are a trendy feature that is currently being offered.

These are digital accounts in foreign currencies that enable businesses to receive, send and HOLD foreign currency as they like.

How to Save Money on International Money Transfers {Tips}

In addition to using the best international money transfer service for your requirements, these are tips that can help you save up even more.

  • Exchanging money at a favourable rate. It can be difficult to predict, but if you are successful, you can get the most for your pound sterling. Remember that even the best international bank accounts in UK or best UK banks for international transfers may offer worse rates than commercial money transfer services.
  • Similar to the above, you could consider booking a forward contract rather than a spot FX contract. This means fixing today’s exchange rate for a future transfer, which can be useful if rates are expected to move against you.
  • Always verify that you are getting a good rate, even if you have signed up with a specific international money transfer company that’s known for low fees. The margins applied to your first transfer may not necessarily be applied to future transfers.
  • To ensure you are getting the best currency transfer rate, you could sign up with multiple providers and compare bank transfer quotes between them.
  • If you want your transfer quote to be more competitive, transfer as much money as possible at once. But look out — there may occasionally be additional costs associated with transferring large amounts of money internationally in a single payment. Specialists can provide individual guidance on how to split your transfer into multiple payments, which may help save on bank fees (and particularly intermediary bank fees).

Compare Money Transfer Companies Recommendations & Requirements

Customer TypeNeedsRecommendationExample for money transfer servicesView More
UK or EU based IndividualLarge, repeating, or complicated transfersCurrency brokers with dedicated currency expertsCurrencies Direct, TorFX, moneycorpHere
UK or EU based IndividualSmaller transfers with no complexityOnline money transfer platformsWise, OFX, Revolut
UK or EU based IndividualTravel moneyMulti-currency accounts with debit cardWise, Revolut
Brit or EU citizen residing abroadLarge, repeating, or complicated transfersCurrency brokers with dedicated currency expertsCurrencies Direct, TorFX, moneycorpHere
UK BusinessInternational business payments, hedgingBusiness Foreign Exchange specialistsCurrencies Direct, TorFX, moneycorpHere
UK BusinessCollecting business payments (B2B) in local currencyMulti-currency account for businessOFX, Wise
USA citizen or business (located locally or abroad)Large, repeating, or complicated transfersMoney transfer company with U.S presenceCurrencies Direct, OFX, moneycorpHere
Australian citizen or business  (located locally or abroad)Large, repeating, or complicated transfersMoney transfer company with Australian presenceTorFX, SendPaymentsHere
Canadian citizen or business  (located locally or abroad)Large, repeating, or complicated transfersMoney transfer company with Canadian presenceOFX, Currencies DirectHere
Individuals/businesses elsewhere globallyAny requirementResearch which money transfer service can onboard you

To read 90+ money transfer services reviews click the green button below leading to a list of all foreign exchange entities we have covered to date.

Money Transfer Comparison Presets: Studies and Researches

On top of trying our best to create the best guides reviews in the domain of international money transfers, we have also conducted our own researches and surveys. Below you can find our unique material:

Why are Australian businesses still relying on their credit cards for overseas spending?

Explore the reasons behind Australian businesses' preference for credit cards in international transactions, including insights from a survey on the challenges and perceptions influencing their choices.

Will Australian businesses source more suppliers or customers from overseas as the cost of doing business increases?

Delve into the shifting trends of Australian businesses as they navigate the rising costs of operations. This study offers insights into the increasing consideration of overseas suppliers and customers in response to domestic financial pressures.

Will Smes Outsource Work Overseas Amid A Tight Job Market & Rising Wages?

Investigate the compelling dynamics that lead SMEs to consider outsourcing internationally in the face of a tight job market and rising wages. This study assesses the economic pressures driving the need for overseas talent, highlighting the strategic decisions made by SMEs to address local talent shortages and financial constraints.

Are Australian businesses failing to check exchange rates when making international payments?

A significant portion of Australian businesses may not be diligently checking exchange rates or shopping around for the best rates before making international payments. This study unveils the oversight that could be costing businesses financially and highlights the importance of being exchange rate aware.

Will SMEs expand their sales or suppliers internationally to get through tough economic times?

This study surveys small-to-medium business leaders to assess their strategy in response to economic challenges, specifically whether they plan to expand sales or outsource suppliers internationally. It reveals a trend towards globalization among SMEs in an effort to navigate financial adversity.

Consumer Behavior:

How Many Aussies Are Ignorant About The Meaning Of Exchange Rates And International Transfer Fees?

Uncover the surprising level of misunderstanding among Australians regarding exchange rates and international transfer fees. This Money Transfer Comparison study dives into the awareness gap, revealing key misconceptions and the actual knowledge spread across the population.

Are Aussies losing out by using credit cards for overseas purchases rather than money transfers?

Discover the financial impact on Australians using credit cards versus money transfers for international transactions. This Money Transfer Comparison study investigates preferences and awareness around costs, revealing the potential savings from choosing more cost-effective payment methods.

Do Australians research lower fees before making international money transfers or purchasing foreign currency?

Assessing the savvy of Australians in financial matters, this study probes whether they seek out lower fees for international transfers and currency exchanges. It unveils a significant proportion that may not be optimizing their financial decisions, shedding light on the potential for better financial education and awareness.

Basic quiz reveals Australians’ lack of understanding on impacts of AUD fluctuations

This study reveals a surprising gap in the understanding among Australians of how AUD fluctuations affect the economy and individual purchasing power. A quiz uncovers common misconceptions and provides a snapshot of the nationwide need for improved financial literacy.

Are Australians saving money on payments?

Investigate the strategies Australians employ to reduce expenses and avoid fees in their payment processes. This study captures the intent of consumers to alter their payment methods in the face of economic shifts, highlighting the proactive steps taken to economize in day-to-day financial transactions.

Are Australians willing to financially help families overseas, despite the rising cost of living?

Examine the willingness of Australians to support family abroad in light of the increasing expenses at home. This survey uncovers the financial commitments Australians are prepared to make to assist their overseas relatives, despite domestic economic pressures.

Banking and Fintech:

Would Australians leave their banks in favour of innovative online lenders and fintech services?

Examine the evolving landscape of Australian finance where traditional banking satisfaction is weighed against the allure of fintech alternatives. This study evaluates the readiness of Australians to switch to fintech solutions offering more affordable and innovative services in money transfers, loans, and savings.

Have high interest rates and fees in 2022 eroded our trust in the banks?

This study investigates the Australian public's trust in banks amidst rising interest rates and fees. It examines whether higher costs have prompted consumers to shift towards cheaper, more trustworthy online services, reflecting changing attitudes towards traditional banking.

Currency and Economic Impact Studies:

How will the Australian dollar affect travel and consumer spending?

Investigate the impact of the Australian dollar's fluctuations on consumer behavior, particularly regarding travel and overseas spending. This study provides insights into how changes in the AUD's strength influence Australians' decisions on investing, traveling, and purchasing from abroad.

Will Australians increase their international payments in FY23?

As interest rates and living costs rise, this study examines Australian spending trends, specifically in the realm of international payments for FY23. It assesses whether Australians plan to increase, decrease, or maintain their spending abroad and explores the underlying reasons for their financial decisions.

American Financial Behavior:

Are banks offering Americans value and innovation?

Surveying American perspectives on traditional banks versus fintech, this study examines perceptions of innovation and value in banking services. It provides insights into customer satisfaction with current banking offerings and the potential shift towards fintech solutions.

Will Americans increase or reduce international money transfers in 2023?

Delve into the future of international finances as this study explores American intentions towards money transfers in the coming year. It offers an analysis of potential shifts in overseas spending habits amidst changing economic conditions.

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