At MTC.com, we have created detailed, in-depth, reviews of the best international money transfer companies on the market. We helped thousands discover the top money transfer services for their needs, and move their money overseas safely, promptly, and for cheap. Begin your money transfer comparison today.
Best Money Transfer Companies: Top 6
Updated for: April 2020
- Min Transfer: £/€/$ 100
- Currencies Supported: 39
- Offices : UK, EU, USA, India, South Africa.
- Our Rating : 97.8%
- Most Global Offices and Reach
No Fees from Anywhere
96% Client Satisfaction
- Min Transfer: £/€ 1,000
- Currencies Supported: 121
- Our Rating : 95.4%
- Easiest Sign Up Process
Great Online Sellers Offering
Transparent Exchange Rates
- Min Transfer: £/€/$ 50
- Currencies Supported: 120
- Offices : UK, EU, Australia, USA, HK, UAE, and South America
- Our Rating : 92.8%
- Min Transfer: £/€/$ 100
- Currencies Supported: 138
- Offices : UK, EU, and South Africa.
- Our Rating : 90.6%
- Great Experience
Specialising in Private Clients
Sunday Times Track 100 Winner
- Min Transfer: £/€/$ 100
- Currencies Supported: 55
- Offices : UK, Australia, Canada, USA, Hong Kong and Singapore.
- Our Rating : 90.4%
- Industry Veteran
Publicly Traded Company
Very High Level of Service
- Min Transfer: None
- Currencies Supported: 55
- Offices : UK, EU, Australia, USA , Japan and UAE.
- Our Rating : 86.8%
- Extremely Succesful
Clear Pricing, Fixed Margins
All Online - Great for Small Transfers
Compare the Top 4 International Money Transfer Services
Below we will compare 4 of the most interesting money transfer companies on the market.
| Moneycorp | Currencies Direct | WorldFirst | Transferwise | |
|---|---|---|---|---|
| Safe? | ||||
| Transfer Fees? | No. | No. | No. | No. |
| FX Margins? | ||||
| Dedicated Dealer? | ||||
| Website | Website: | Website: | Website: | Website: |
What Differentiates Money Transfer Comparison from Others
Our aim is to compare and review all the prominent top 10 currency exchange companies in a detailed manner, and help our readers make up their own mind on which is the best international money transfer service to use. In order to facilitate that, we have devoted days and nights to review and compare 43 of the leading money transfers (by popularity and market share). We keep our money transfer comparisons up to date, and make a conscious effort to improve it, one day at a time.
We do not offer real time rate comparison where we show the rates, nor promise you to save any specific £ figure or percentage on your transactions, simply because we found these methods, which some of our competitors have opted to use, as simply inaccurate. As the foreign exchange rates in the market constantly fluctuate, so are the quotes provided by money transfer services in UK. We prefer to make our comparison based on other attributes, such as reputation, market size, quality of online money transfer services (including mobile money transfer apps), and level of customer service. We believe finding the best currency exchange rate available is only feasible for those who bother educating themselves about the ins and outs of how the money transfer service industry operates, and this is precisely what we aspire to provide to our readers.
Additional information on how we make our top company selection is available below.
In a similar fashion to other websites in this industry we are have decided to monetise MoneyTransferComparison by partnering up with some of the industry’s leading international money transfer services (only companies hitting a score of 85% or better) and referring clients over to them*, but we strive to provide truthful, up to date, and valid information on our money transfer reviews.
* That means links and buttons pointing out to external websites may be partner links. We write about this in great depth on our about us pages and various portion of the sites as we are firm believers in transparency.
What Do Our Readers Think About Us?
Testimonial by a Fast Track 100 Listed Company:
Intamarque is one of the UK’s fastest growing distributors’ of FMCG lines with sales growing from zero to £35m in just 10 years. We were awarded the Fast Track 100 award which identifies Britain’s private companies with the fastest-growing sales.
… We recently had the pleasure of using the service of MoneyTransferComparison.com who helped us secure a successful outcome of an order which was challenged due to the economic climate at the time.The professionalism and attention to detail from MoneyTransferComparison.com was amazing and Intamarque would thoroughly recommend them to anyone needing to use this service.
Kind Regards
Richard Shortt, Managing Director, Intamarque Limited
International Money Transfers Guide
Our Review and Comparison Guidelines Explained
We have compared more than 40 foreign exchange transfer companies over the past 5 years and we intend to continue growing and expanding. Upon researching such companies, we look at several main components of each company’s offering. These are the very same area we write extensively about on our reviews, and use to determine which are the best international money transfer companies.
| quick and easy sign up process, readily available staff – courteous and helpful, or in simple words a money transfer service ready to go above and beyond for its clients. They will help you optimize your currency transfers to the tee. | |
| a well known-company with a serious track record, transferring substantial amounts of foreign currency each year, holding sterling reputation and boasting pristine client reviews. | |
| no direct international money transfer fees, competitive FX rates for high-amount international transfers, with no hidden fees of any sort. | |
| Functions such online money transfer platform, a mobile app enabling Forward Contracts and other corporate FX hedging, and of course – offering regular payment options. | |
| Many currencies handled including exotic currencies, global office outside the UK, regulated by several regulators, and constantly expanding into new territories. |
Additional Information on how we evaluate the necessary characteristics to become a recommended money transfer company is available on our FAQ.
Currency Comparison 101: great money transfer offering vs. terrible services?
Superb Money Transfer Service Experience
Lousy Money Transfer Service Experience
How was your individual experience?
We encourage our readers to leave comments on the relevant reviews describing their experiences. It will be for the greater benefit of other people in your position. For those who have experienced a bad experience and feel like they have been mistreated by one of the companies that we have partnered up with we offer a dispute mediation servce with FX companies.
Cheap International Currency Exchange AND Superior Service?
Foreign Exchange Companies Vs. Commercial Banks, a Comparison
Here is a simplified table demonstrating the differences between an international money transfer service and a bank.
| Top Foreign Exchange Company | High-Street Bank | |
| Service | Dedicated per-client account manager with FX expertise. | A banker with no particular knowledge in fx. |
| Fees | No international outbound transfer fee. | Up to £25 / €30/ $50 per transfer. |
| Security of Funds | Client accounts are segregated and safeguarded for any company authorised by the FCA to handle clients’ funds. | Protected by the PRA up to GBP 75,000. Other protective measurements are in place outside the UK. |
| Rates | Wholesale. Anywhere between 0.3% and 2.5% spread, depending on volume and corridor. | Sub-par. Up to 5% margins on exotic currencies, and up to 3% on standard pairings. Rarely under 1.5% markup! |
| Speed | Most destinations within 24h with most companies. | By default, transfers can take up to 3 days. You need to pay a premium to get a quicker delivery. |
| FX Options | Readily available for all clients, private and corporate (with providers offering them). | Reserved normally for large corporations. |
| Nationalities Accepted | Clients from UK, Australia, Canada, New Zealand, or the EU are always accepted. Rest of the world (USA, Singapore, Hong Kong) are normally accepted too. | Only local residents of the country where the bank is in. A few banks like HSBC will allow clients to interlink international accounts. |
Last Week’s Highlights:
- USD reversed sharply from 3-year highs to post sharp losses against major currencies as Federal Reserve measures to boost liquidity had a big impact in increasing dollar supply and demand faded.
- EUR regained ground despite a further increase in coronavirus cases as the dollar lost ground.
- GBP corrected sharply to post the strongest weekly gain for over 10 years as global liquidity pressures eased.
- JPY regained ground, primarily due to the sharp US currency losses despite concerns at losing the Olympics.
Next Week’s Predictions and Events:
- USD is liable to weaken further over the next month, especially with increased fears over the US outlook, but there will be interim corrections.
- EUR will gain protection from the current account surplus, although fears over political policy rifts will limit the scope for gains.
- GBP will struggle to extend gains as fundamental concerns over the UK economy and outlook are liable to intensify.
- JPY gains are liable to be limited by increased concerns over the Japanese economy.
More: View The Full Analysis and Prediction for this Week
Bottom Line: We Strive to Compare and Educate
We pride ourselves in thorough, fully detailed reviews and top-of-the-line currency exchange comparison. We devote a lot of time and resources into reviewing each individual provider that we deem worthy of reviewing. Unlike some of our competitors, we are not owned by a multi-million dollar company. Unlike our competitors, our aim is not to simply compare foreign exchange rates between different sites and recommend whoever offers the cheapest price or the lowest fees.
That’s a part of what we do, but it’s not our main goal.
We believe that international transfer companies should provide safety and security, above all. This is why we are so focused on elements besides pricing. It’s a part of the overall rating that we provide each company, but it’s not everything. We do not treat the companies we review as “sites“; instead, we try to conduct our appropriate due diligence, just as we would do before engaging with any global business partner.
Below are the key aspects we scrutinise in order to establish trust with a company to the extent we can wholeheartedly recommend using it:
1
Legal Status
We look at the regulatory status of each company – Is it only registered with the FCA or is it authorised as a payment institution? Is it supervised by additional regulatory authorities across the globe? Has it been accused of fraud?
2
Track Record and Volumes
How long has the company been running for? How many clients does it serve? Where are its offices? What kind of volumes does it trade? Who owns it and who runs it? Does it have worldwide offices? Where are they?
3
Client Reviews
We browse hundreds or thousands of individual reviews for each company, and see what clients think of it, and whether they would recommend them. We also look at money transfer sites from the technical perspective – we only recommend those that have mobile-friendly designs, functional platforms and are appropriate for mobile devices (or have appropriate mobile apps).
4
Personal Assistance
We prefer companies that seek to create a personal interaction with you. Such companies assign one dedicated point-of-contact to help you with your trades. This is definitely a way for clients to feel more secure – being able to reach your dedicated fx dealer at any time.
5
Our Interaction With The Companies
Our business relationship (as referral partners) with some of the companies reviewed on this website can help us separate the whiff from the chaff. We are able to visit them in their offices, speak directly to the people who work there and assume their level of professionalism and integrity, enabling us to learn the financial standing of the company.
We believe what we see with our own eyes; and thus, we have met with 6 of the fx companies that have received the highest scores in our testing.
6
Dealing with Complaints
Even the best money transfer services in the world sometimes receive complaints. That’s only natural and we would be suspicious if none came up for companies providing their fx services to hundreds of thousands of clients.
The important thing is how they handle complaints. Are they open with the client when they have mistreated them? Do they take any inquiry seriously and spend time searching for complaints online and responding to them? Are they sharing case resolutions that we have referred to them with us? Do they bother to respond to complaints or comments left on MoneyTransferComparison.com’s reviews? Are they able to handle and treat complaints in a satisfactory manner?
Money Transfer Comparison: Final Editorial Notes
By Alon Rajic, Managing Director of Finofin, The company running and managing Money Transfer Comparison
Ever since our launch back in 2014, we have been on the frontline of the international money transfer industry (a sub-niche of the massive foreign exchange market, the most widely traded market in the world). We never engaged in blatant advertising techniques and made sure we continuously expanded our offering, while widening our scope, and most importantly tried to provide real added value for our readers. We boast more international money transfer company reviews than any of our competitors, and we make sure they are extremely up to date and written in vast detail, and our readers value us for that. Over our time of operation had more than a million visitors, more than 1,000 user generated comments on our various articles and reviews, more than 100,000 quote requests from our partnered links, and more than £300,000,000 was transferred internationally through our referrals.
We are overwhelmed by the amount of love and respect we have experienced.
You helped us position MoneyTransferComparison.com as an authoritative guide for everything currency-related, and turn it into a sustainable business.
Thank you.
We will continue make continuous efforts to improve Money Transfer Comparison:
Thank you for reading,
Alon Rajic,
Managing Director , MoneyTransferComparison.com