Since 2014, we have been writing about one specific topic, namely foreign exchange. Day in, day out, we try to address questions such as:
- What is the best international money transfer service out there?
- Are there bank-alternatives companies offering to transfer money internationally safely and for cheap?
- How does money transfer comparison works, and how do you determine which are the best money transfers?
The simplest, and overall quickest way to begin your international money transfer journey, is to view our selection of the top 10 money transfer companies below. These are the highest-rated providers enabling customers to save both money and effort when it comes to international money transfers and are particularly apt for large transfers.
Top 10 for International Money Transfer Services
Below you can find the best foreign exchange companies for September 2022
- 🏆 Overall Winner for Large International Money Transfers: Currencies Direct
- 🏆 Best Quality of Service: TorFX
- 🏆 Best Reputation & Best for Business FX: Moneycorp
- Fastest Growing Brokerage: Key Currency
- Best Online Money Transfer Platform: OFX
- Best by Client Feedback: Global Reach
- Best TrustPilot Score: Currency Solutions
- Best by Feefo Score: Halo Financial
- Best Multi-Currency Card: Wise
- Best for Online Sellers: WorldFirst
⚖️ Compare Money Transfer Companies (TOP 6)
Note: These top 10 money transfer services represent a small subset of 80+ non-bank providers reviewed by us since 2014. They represent our editorial selection as the best way for international money transfer. As a fair disclosure, we have partnership relationship with these companies (but we selectively partner with companies that we find reliable, safe and customer-friendly).
Why do you need an international money transfer comparison?
The sad truth is that bank customers in UK, EU, USA, Australia, and across the globe are severely overpaying when it comes to transferring money across borders, when such transfers involve foreign currency exchange. Moreover, they are actually unaware how much they’re actually paying on international money transfers 🤯. Money Transfer Comparison offers detailed reviews and easy comparison chart of the best-known money transfer companies, business foreign exchange services, and currency brokers to empower its readers to know more about currency transfers, and choose the best-fit service for their needs and requirements 💪.
Below you can find the most common questions when it comes to currency transfers and our best attempts to address them (to view our answers, click the “click to expand” button next to each question).
Is it safe to shop around for money transfers? (🖱️click to expand)
Can I save a lot of money shopping around? (🖱️click to expand)
Is it difficult to sidestep your bank? (🖱️click to expand)
Best International Money Transfer Services by Rating
Currencies Direct: Best Overall for International Money Transfers
- 96% Positive Feedback from Customers, Since 1996
- Service Oriented - Specialising in Large Transfers - Friendly Dealers
- Very Competitive Rates, No Wire Fees
TorFX: Strong Guidance and Staff
- Headequarters Outside of London - Lower Staff Costs Rolled Over to the Client
- Quick Onboarding Process and Highly Professional
- Trading Desk with 100+ Years of Experience
moneycorp: Oldest and Most Reputable Foreign Exchange Service
- Providing FX Services since 1979
- Very Recognisable Brand with Excellent Reputation - £36.9in Transfers Annually with Offices in Every Continent
- Business Specialists
Key Currency: Up and Coming Currency Broker with Local Presence UK/Spain
- Fastest Growing UK Currency Transfer Provider
- Strong Onboard Team, Get an Immediate Callback
- Recepient of Multiple Industry Awards
Global Reach Group: 99% Positive Client Feedback
- 99% of its Past Clients Gave the Firm a Positive Review
- Best Rate Guaratnee: Global Reach Group Will Beat Any Competing Quote
- Strong Global Reach with Offices in UK, Europe, and Canada
Currency Solutions: Best Money Transfer on TrustPilot
- Best Customer Satisfaction Score on TrustPilot
- Welcoming and Clear Website, Easy to Sign Up
- Excellent Currency Transfer Rates
OFX: The Publicly-Traded Money Transfer Company from Down Under
- Traded Publicly in Australia
- £20bn Turnover per Year
- Ultra Professional
Halo Financial: Excellent Online Platform and Support
- Feefo 2020 Platinum Trusted Provider
- Excellent Website and Online Flow
- Highly Professional
Wise (Previously TransferWise): Valued at £10bn
- Largest Money Transfer Provider of its Kind
- Fully-Online Journey
- Transparent Pricing
For Ecommerce and Business Clients (Not Accepting Private Clients)
Worldfirst: Best FX Rates Online
- Best Rates for Business Transfers
- Authorized by 6 Global Regulators
- Asian Currency Specialists
What is a “Currency Transfer” ?
A currency transfer is an international money transfer that involves a currency exchange. For example, if you need to transfer money internationally from UK to buy a house in the EU, and your funds are in Pound Sterling while the recepient needs to receive Euros, that would constitue as a currency transfer. This is a synonymous term to an FX transfer.
Can I use a money transfer service?
Our main focus creating this guide has been international money transfers from UK, and money transfers to UK from abroad, as well money transfers from EU, but most of our top 10 money transfer services are happy to onboard customers almost globally and deal with 76 currencies, on average. Use the flag indication on the right-hand side of each listing to learn where these services are most application.
Are all these services online?
All the best international money transfers as per our listed have an online money transfer function which includes both a fully-functional website as well as a fully functional international money transfer app, but our focus creating this listing of the top 10 options is geared towards larger-sum money transfers, and for those – we recommending talking to your provider via phone or email. 9 out 10 money transfer companies listed above support the latter, with the exception of Wise which is a strictly-online operation.
Is receiving money internationally supported?
All companies listed above also support receiving payments from abroad. As per our guide for receiving large sums of money from abroad, this is how it how the process work (and doesn’t even trigger an international money transfer via SWIFT, you just receive the money in one country in a certain currency and the provider transfers it to you in your local your local currency).
What are the international money transfer rates like?
You must have noticed that unlike some of peers, we don’t mention any specific money transfer rates next to each company. The reason is that for the most part, the actual currency exchange rate you will be paying depends heavily on your circumstances. Questions like how much money you are sending abroad, which currencies are involved in the transfer, and the overall currency volatility in the market have a dire impact on the international money transfer exchange rates a provider would be offering. Whichever amount you are transferring, whether a large sum or a more moderate transfer, online or via phone, and whichever currencies involved – each of these services is going to offering immense savings as compared to banks, but the exact amount can only be quoted in real time after you sign up.
Do you offer any guidance for specific countries?
In Money Transfer Comparison, we also offer guides which are specific to certain countries where we feature the best international money transfer services specific countries (also known as currency corridors). You can visit our specific guides below:
- Transferring money from Spain to UK and UK to Spain
- Transferring money from France to UK and UK to France
- Transferring money from USA to UK and UK to USA
- Transferring money from Switzerland to UK and UK to Switzerland
- Transferring money to Sweden, Norway and Denmark
- Transferring money between UK and Europe (Italy / Germany/ Portugal focused)
- Transfer money to and from Israel
Additional methods to save money on money transfers?
Other than using the right service provider, you could save money by…
- Exchange money at the right time when rates are favourable. That’s a little hard to predict but if you nail it, you will manage to get most buck for your sterling (literally).
- Similarly to the above, you could consider booking a Forward contract instead of booking a spot FX contract. What it means in layman’s word is that you’d fix today’s exchange rates for a future transfer, which comes in handy if rates are expected to move against you.
- Always verify you are getting a good rate even if you have signed up with a specific international money transfer company. The margins applied to your first transfer won’t necessarily be applied for future transfers.
- To make sure you are getting the optimal currency transfer rate you could sign up with multiple providers and compare bank transfer quotes between them.
- If you want your transfer’s quote to be more competitive, transfer as much money as possible at once. Of course it wouldn’t make sense to exchange more currency than what you need.. but if you have a few transfers you have intended to split, consider doing that.
- There are associated costs, sometimes, that relate to transferring large amounts of money internationally in a single payment… specialists are able to give you individual guidance on how to split your transfer into multiple trenches that may help you save up on bank fees (and particularly intermediary bank fees).
Delving into international money transfer companies:
The key for making optimal decisions is having ample options to choose from.
Our international money transfer comparison and guide consists of a lot of legwork, so you won’t have to do any. We have collated data about a very large number of money services and made a serious effort to cover them as extensively as we could. If you’re patient and methodological, you could zoom in on currency transfer options you’re interested by reading our money transfer reviews. We are proud to offer editorial reviews of the most prominent money transfer companies in UK and globally.
Are bespoke money transfer services necessarily the best way?
Our research has demonstrated, time after time, that commercial brokerages or money transfer services are consistently cheaper than their alternatives (banks and digital wallets) for international bank to bank transfers, and provide a better value proposition.
Hundreds of thousands of customers have described their experiences with the top 10 money transfer providers in UK as “positive”, and have noted at the two aforementioned areas. Most customers would wholeheartedly agree that they saved both money and time dealing with international money transfer service providers (as compared to banks).
For us at Money Transfer Comparison, it sounds like a winning deal. Obtaining the international money transfer rates, paying no international wire fees, and getting superior service from professionals. Hence, our research was focused on money transfer companies for the most part. With that being said, we reviewed a small number of major UK banks, UK neo-banks, Australian banks, and online digital wallets.
Please note that the currency transfer services that we cover on this page would not support domestic transfers. You could use a multi-currency account to do same-currency payments. Also please note that foreign currency services listed on this page do not offer travel money or any other form of cash transfers.
Compare commercial currency transfer and banks
Banks charge anywhere between 1.5%-3% per transaction in hidden costs (a markup hidden into their international foreign exchange rates), on top of their wire fees ranging from £12-25 with most banks, and the customer is getting a somewhat lacking and partial service. The very little terms of support in the transaction itself, verifying the details and complete and correct, guidance about the best timing to make that transfer, or tracking whether the transfer has met its destination. Small businesses and individuals will not have full-on foreign exchange management service, such as access to Forward Contracts and other fx hedging tools. Comparison summary below.
| Big Bank | Top 10 Money Transfer Company | |
|---|---|---|
| 🛡️ Safe? | FCA and PRA authorised. Highest level of data encryption. | FCA authorised (+ 7 additional jurisdictions). Highest level of data encryption. |
| 🖋️ Signing Up | Long and cumbersome, requiring many documents. | Online and easy, get verified automatically based on your documents in minutes. |
| 💰 Transfer Fees? | Yes, approximately £12-15 on average. | No. |
| 💸 Currency Exchange Margins? | Not less than 1%, and up to 3% on exotic currencies. 2% would be a good rough average. | Our 12 months average clients we have referred to that provider paid 0.6% on average. That’s a cheaper way to transfer money internationally than banks for certain. |
| 👨 Dedicated Dealer? | No. It’s either the bank’s online banking system, or a banker with no particular FX expertise. | Yes. Professional dealer who helps you transact and follows up on your transfer (and can keep in touch for future requirements). |
| 🧾 Hedging | Only for corporate clients. | Available from £5,000 in volume or eq. |
Compare commercial money transfer companies and online wallets
Instant money transfer services like PayPal international payment costs incredibly expensive fees on currency exchange (in the proximity of 4.5%-5% depending on currencies), on top of a variety of other fees that could amount to an additional 5%, but will always reach its destinations instantly (and the recipient doesn’t need to provide bank account details, just a PayPal email address). With PayPal you don’t get access to advanced foreign exchange service, the service is simply sending money from one account to another.
While PayPal, and other competing services collectively known as “eWallets”, could be the easiest and fastest solution for money transfers abroad, it is definitely too expensive to be considered for larger international money transfers. Almost the exact opposite to the best international money transfer services like Currencies Direct, Moneycorp and TorFX which aren’t instant, nor instant to use (you have to undergo a verification), but their preferable rates make it worthwhile for large foreign currency transfers.
Money Transfer Company, Service, or Brokerage?
A money transfer company, or a money transfer service, is – under our own definition – any company that enables individuals or businesses to transfer money across borders into a bank account (i.e. international fx payment). This broad array of services including companies of all types – from remittances-oriented Western Union and Moneygram which have been around for centuries and operate using their own payment networks transacting tens of billions each year, all the way to smaller brokerages like Key Currency which are focused on higher value transfers and businesses. The common ground – enabling cheap international money transfers, compared to high-street banks.
When people refer to the best currency brokers they normally refer to the former – companies like Moneycorp that specialise in provision of exemplary service and a wide arrange of hedging options but they ultimately make their transactions through BANKS (as opposed to their own payment networks), and hence are logically named brokerages. Brokerages fulfill the basic function of cheap overseas money transfers, but provide a lot more than that, and are more oriented towards large sum international transfers and business foreign fx.
Best currency transfer: by category
- View all money transfer services and companies (80 reviews), updated September 2022
- View the best currency brokers in UK, updated September 2022
- View the best business FX and corporate foreign exchange, updated September 2022
- View the best online money transfer websites, updated September 2022
- View the best international money transfer apps, updated September 2022
- View the best international money transfers in Australia, updated September 2022
- View the best international money transfers in USA, updated September 2022
- View the best international money transfers in Canada, updated September 2022
- View the best international money transfers in South Africa, updated September 2022
Compare International Money Transfers Companies
Top 6 currency transfer specialists, and why do we believe they are the very best way for consumers to transfer their money internationally to a foreign bank account. Please note our selection is leaning towards customers who require to conduct a large international money transfer in UK.
Updated for: September 2022
- 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 and Competitive Rates
96% Client Satisfaction
- Min Transfer: £/€ 100
- Currencies Supported: 40
- Offices : UK, EU, Singapore, and Australia.
- Our Rating : 93.4%
- High Quality Bespoke Service
MoneyFact's Best Provider Award
Over 100 Years of FX Experience Across Its Trading Desk
- Min Transfer: £/€/$ 50
- Currencies Supported: 120
- Offices : UK, EU, Australia, USA, HK, UAE, and South America.
- Our Rating : 92.8%
- Business Oriented, Many High Profile Business Customers
Industry Veteran since 1979
Diverse Hedging Options and Excellent Guidance
- Min Transfer: £/€ 1,000
- Currencies Supported: 70
- Offices : UK, Spain, Netherlands, and Canada.
- Our Rating : 90.6%
- Very Experienced Staff
99% Positive Customer Reviews Online
12 Luxurious Industry Awards
- Min Transfer: £/€ 1,000
- Currencies Supported: 34
- Offices : UK and EU.
- Our Rating : 90.4%
- #1 Rated Money Transfer on TrustPilot
Friendly Customer Service
Fast Sign-Up
- Min Transfer: £/€/$ 50
- Currencies Supported: 30
- Offices : UK.
- Our Rating : 87.6%
- Extremely Tailored Service
Multiple Industry Awards
Highly Positive Client Reviews
80 International Currency Transfer Options
We pride ourselves in providing the world’s most comprehensive international money transfer comparison. As such, we have decided to cover more currency transfer services than any of our competitors, and write our reviews with much greater detail.
If you want to learn why we picked the top 10 money transfer companies in the order we did, read about specific services, or just spend a few hours educating yourself about the industry and its key players – view our array of foreign currency transfer to a bank account abroad below. Just remember it’s not all about finding a cheap transfer abroad, and quality of service goes a long way dealing with substantial amounts of money.
As Seen On
International Money Transfer Companies Comparison – Complete List
Displaying 82 money transfer companies, Updated for: September 2022
| Company | Our Rating | Recommended for | Description | Visit | |
|---|---|---|---|---|---|
| #1 | 97.8% ⭐⭐⭐⭐⭐ | Transfers of All Sizes, Bespoke Service from £5,000 and Up | Currencies Direct is a known money transfer company with headquarters in the UK and with more than 20 offices worldwide, offering private and business currency transfers online, via telephone and through a mobile app. | Visit Website | |
| #2 | 93.4% ⭐⭐⭐⭐⭐ | Large Transfers (Private and Corporate Clients) | TorFX is a Cornwall-based award-winning money transer service that prides itself in its traders high level of professionalism and bespoke currency service. | Visit Website | |
| #3 | 92.8% ⭐⭐⭐⭐⭐ | Any type of Business FX needs or large transfers for private customers | Moneycorp is perhaps the most trusted name in currency transfers – operating since 1979, and transferring as much as £20bn annually, with the most diverse offering for businesses clients (hedging and payments). | Visit Website | |
| #4 | 90.8% ⭐⭐⭐⭐⭐ | Medium to Large Transfers, Corporate and Private | Key Currency is one of the most well known up-and-coming international money transfer services in the UK. It boasts a clean website, good user reviews and growing recognition. | Visit Website | |
| #5 | 90.6% ⭐⭐⭐⭐⭐ | Medium to Large Transfers (Private and Corporate Clients) | Global Reach Group is a merger of two of the most famous names in the foreign exchange industry – FCE Exchange (private customers) and Global Reach Partners (corporate FX). The outcome is a larger with a very diverse offering, which has remained customer-friendly. | Visit Website | |
| #6 | 90.4% ⭐⭐⭐⭐⭐ | Large Transfers (Private and Corporate Clients) | Currency Solutions is a smaller UK-based brokerage, with offices domestically and in Cyprus, holding a 99% client satisfaction rating on TrustPilot reviews. | Visit Website | |
| #7 | 90.4% ⭐⭐⭐⭐⭐ | Transfers of All Sizes: From Remittances to Large Corporate Payments | OFX is an international payment service headquartered in Australia and publicly traded on the ASX. It’s one of the best known names in the business, and has a pristine reputation and transparent pricing. | Visit Website | |
| #8 | 87.3% ⭐⭐⭐⭐ | Large Transfers, Corporate Payments | Halo Financial is another top-rated smaller brokerage with excellent service and very high satisfaction rating to attest for that. | Visit Website | |
| #9 | 95.2%* ⭐⭐⭐⭐ | * Only for E-Commerce and Business Clients. Private clients not accepted. | WorldFirst offers the best international money transfer rates bar none, but it’s offering is limited to online sellers and businesses. It’s a well known company with a lot of built in functions such as a multi-currency account, which is owned by Ant Financial (Chinese Conglomerate). | Visit Website | |
| #10 | 86.8% ⭐⭐⭐⭐ | Small to Medium Transfers – Strictly Online | Wise (TransferWise) is the most recognisable name today in the money transfer business. The company has recently went on an IPO reaching more than £13bn in market cap. Wise is currently the biggest international money transfers provider in the world (which offers strictly bank to bank transfers, not including large remittances providers). | Visit Website | |
| #11 | 89.1% ⭐⭐⭐⭐ | Small to Medium Transfers – Strictly Online | CurrencyFair is an innovative online money transfers provider with a unique online system that can reach razor-sharp rates. The company has won multiple industry awards and is regulated by the Central Bank of Ireland. | Visit Website | |
| #12 | 85.6% ⭐⭐⭐ | Tech-loving corporate clients | AirWallex is a cross border business payments startup with focus on payments API which has been won a unicorn status. It offers a diverse functionality for businesses. | Visit Website | |
| #13 | 82.6% ⭐⭐⭐ | Small Trades, Remittances | Instarem is a leading, 2014-established, online money transfer and remittances specialists with good rates, excellent global reach and high customer satisfaction. | Visit Link N/A | |
| #14 | 82.1% ⭐⭐⭐ | £1,000 trades and up | Spartan FX is a boutique service – Currency Cloud based, which focuses on a solid service and online trading system. With SpartanFX you can also get a “private Iban account” to receive payments. | Visit Website | |
| #15 | 80.6% ⭐⭐⭐ | B2B and B2C Payments, Multi-Currency, Business Payments | Payoneer truly comprehensive and unique solution for b2b and b2c payments, which includes a branded MasterCard and a multi-currency account (along many other business-oriented functions). | Visit Website | |
| #16 | 80.4% ⭐⭐⭐ | Business Transfers, Online Only | Kantox is a smaller foreign exchange company which is focused strictly on businesses. Its main selling point is transparent, tight, margins. | Visit Website | |
| #17 | 80.1% ⭐⭐⭐ | Medium to Large Transfers, Individuals and Corporate Clients | CurrencyUK has been award the Best Money Transfer Provider by the British Bank Awards in 2018, and is a prominent money transfer company / brokerage in the UK. | Visit Website | |
| #18 | 80.0% ⭐⭐⭐ | Corporate and private clients, large transfers of £4,000 or more | Privalgo is a relatively small and new UK money transfer specialist. Its early indications are positive and it appears trustworthy. | Visit Website | |
| #19 | 79.0% ⭐⭐⭐ | Remittance Service – Transfers from Australia and Singapore | Travelex was a well known USA focused online remittances provider which was restructured after experiencing an array of cybersecurity issues. It is now focused on remittances from Australia and Singapore. | Visit Website | |
| #20 | 78.6% ⭐⭐⭐ | Various Financial Services (We Focus on International Payments) | Publicly traded Hargreaves Lansdown is one of the most recognisable non-bank financial providers in the US. As a part of its array of financial services, it also offers cross-country cross-currency payments. | Visit Link N/A | |
| #21 | 78.1% ⭐⭐⭐ | Remittances | Remitly is a NASDAQ-traded remittances giant with a smooth online system and mobile offering good fees and exchange rates. | Visit Link N/A | |
| #22 | 78.0% ⭐⭐⭐ | Medium to Large Transfers, Corporate and Private | Smart Currency Exchange is a veteran UK currency transfer company. It has great feedback across the board by clients that have used it, good rates, and an overall good level of reputation in the industry. | Visit Link N/A | |
| #23 | Xoom Money Transfer – Read Review | 77.8% ⭐⭐⭐ | Remittances and Small Transfers, Cash to Cash Transfers, USA and Canada Only | Xoom is a known online money transfer provider which supplies reasonable rates for small scale remittances outside the USA and Canada. | Visit Link N/A |
| #24 | 77.2% ⭐⭐⭐ | Remittances and Small Transfers, Cash to Cash Transfers, USA Oriented | Ria money transfer is a solid remittance provider for those who want to send small amounts of money online from the USA to a developing country, or a remote place in the world. | Visit Link N/A | |
| #25 | 77.0% ⭐⭐⭐ | Remittances and Small Transfers, Cash to Cash Transfers | WorldRemit is a remittance transfer company with a unique touch, offering great rates in corridors which are otherwise very expensive. The company has had multiple investment rounds and won multiple awards. | Visit Link N/A | |
| #26 | 77.0% ⭐⭐⭐ | Domestic Payments and Small Payments – App Only | Revolut is a popular FinTech app with over 6 million registered users. The rate at which it has grown is truly unbelievable. Revolut is definitely not in the mold of your standard money transfer company. | Visit Link N/A | |
| #27 | 77.0% ⭐⭐⭐ | Remittances | Azimo is a leading remittances providers in the UK and Europe which boasts a new competitive pricing plan and 90% satisfaction from customers across tens of thousands of reviews online. | Visit Link N/A | |
| #28 | Orbit Remit – Read Review | 75.0% ⭐⭐⭐ | Remittances from £50 and up | Orbit Remit is one of the most promising remittances providers offering solid fees and exchange rates, comfortable-to-use website and app, and high level of satisfaction by clients. The cheapest international money transfer for certain currency routes. | Visit Link N/A |
| #29 | 71.0% ⭐⭐⭐ | Remittances (USA based and oriented) | Transfast is yet another remittances company focused on enabling immigrants to transfer money abroad online for a fraction of the costs of high-street exchange bureaus. | Visit Link N/A | |
| #30 | 72.0% ⭐⭐⭐ | Small Remittances Transfers | TransferGo is a remittances provider with 8,000 reviews online with very high percentage of satisfaction. The fees are low, and the markup is only up to 2.2% per transfer. | Visit Link N/A | |
| #31 | 71.0% ⭐⭐⭐ | Medium to Large Transfers, Individuals and SMEs | PureFX is a standard UK-based money transfer company offering all the “plain vanilla” functions you could expect. PureFX is smaller in trading volumes and staff than many competitors. | Visit Link N/A | |
| #32 | 71.0% ⭐⭐⭐ | Medium to Large Transfers, Individuals and SMEs | Foreign Currency Direct / Lumon is a well known UK currency transfer firm with both a private and corporate desk. The company has been set up by ex-directors and ex-managers at rival Currencies Direct. | Visit Link N/A | |
| #33 | 71.0% ⭐⭐⭐ | Transfers of all sizes – Individuals and Business – Australia | FlashFX is an innovative Ripple-network money transfers company based in Australia with good user reviews but sub-par rates which is still relatively small and unknown. | Visit Link N/A | |
| #34 | 34.6% ⭐⭐ | Transfers of all sizes | Virgin Money’s International Payment services are limited to businesses customers, and are only available via direct communication with bank. Other than that Virgin Money’s international money transfer rates are horrific. | Visit Link N/A | |
| #35 | 69.0% ⭐⭐ | Remittances – Online and on Branch, Receive in Bank Account or Cash | Western Union is largest and most global payments provider out there bar none. Western Union can reach regions other, smaller, providers, simply can’t. Western Union online is slightly more expensive than competitors in the same sector, and Western Union branches are a lot more expensive than alternatives (but in many currency corridors there are few or no competitors). | Visit Link N/A | |
| #36 | 50.0% ⭐⭐ | Remittances – Online and on Branch, Receive in Bank Account or Cash | MoneyGram is the second largest money transfer provider in the world with hundreds of thousands of branches across the globe. Its branch fees are nutritiously high and its online fees are still more expensive than competitors. | Visit Link N/A | |
| #37 | 36.0% ⭐⭐ | Bank account. | Natwest Clients (UK)NatWest is one of the 4 large UK clearing banks. It has bad customer reviews online, and its international money transfer service is expensive | Visit Link N/A | |
| #38 | 0.0% ⭐ | International money transfer service for individuals. | While SterlingFX is a recognisable brand in FX in UK which has been operating from 1972, we don’t recommend using the firm for international money transfers as the firm is not FCA authorised (but rather, FCA registered which impacts the way it is regulated). | Visit Link N/A | |
| #39 | N/A | Transfer of All Sizes, Corporate and Individuals | XE Money Transfer is XE.com’s money transfer services. XE is a known brand with strong presence in both the UK and the USA, and positive responses from customers. The firm is owned by EuroNet WorldWide and is a merger of XE’s money transfer services and HiFX’s. | Visit Link N/A | |
| #40 | N/A | Medium to Large Transfers, Corporate Client Expertise | VFX Financial is a rather large provider of international currency transfers and business foreign exchange services. Its previous name was VoltrexFX. The company has won multiple awards. | Visit Link N/A | |
| #41 | N/A | Transfers of all sizes | The Post Office International Payment services are a white-label setup ran by a provider. | Visit Link N/A | |
| #42 | N/A | Small Transfers, Remittances, Cash and Mobile Transfers | Lebara Money Transfer was a service offered by Lebara Mobile and supplied by WorldRemit. The service is discontinued now. | Visit Link N/A | |
| #43 | N/A | Transfers of all sizes | Telegraph International Money Transfer services is a white-label setup ran by an external provider. | Visit Link N/A | |
| #44 | N/A | Private client transfers – domestic and overseas | Veem is a new startup that facilitates international and domestic money transfers over the blockchain network. | Visit Link N/A | |
| #45 | N/A | Private Clients – Large Money Transfers, Corporate Clients – Complete FX Service | Afex is one of the largest currency transfer providers in the corporate world today. Afex has a very diverse and broad offering for corporate clients. | Visit Link N/A | |
| #46 | N/A | Medium to Large Transfers | AxiaFX was a very small currency transfer provider with a poor editorial rating by us and multiple customer copmlaints. Its services has been discontinued. | Visit Link N/A | |
| #47 | Send Payments – Read Review | N/A | Medium to Large Transfers | SendFX is an Australia-focused money transfer company with a smooth website and big promises which has been receiving great client reviews until now. | Visit Link N/A |
| #48 | Transfermate – Read Review | N/A | Medium to Large Transfers | Transfermate is a fairly large money transfer service operating for almost 10 years in a variety of currencies and countries, getting good feedback, and is on a growth trend. | Visit Link N/A |
| #49 | PaySend – Read Review | N/A | Medium to Large Transfers | Paysend offer a low fixed fees, great user reviews and rather comprehensive and unique offering by this 2017-established money transfer company. | Visit Link N/A |
| #50 | N/A | Transfers of all sizes, private and corporate clients | The Guardian International Money Transfer services is a white-label setup ran by an external provider. | Visit Link N/A | |
| #51 | N/A | Transfers of all sizes, private and corporate clients | CNN International Money Transfer services is a white-label setup ran by an external provider. | Visit Link N/A | |
| #52 | N/A | Transfers of all sizes, private and corporate clients | CityAM International Money Transfer services is a white-label setup ran by an external provider. | Visit Link N/A | |
| #53 | N/A | Transfers of all sizes, private and corporate clients | Vorto Trading offers a particular focus on business clients, a slick online platform, and many options for business customers. | Visit Link N/A | |
| #54 | N/A | Large transfers, private and corporate clients | FrontierFX is a relatively small size FX company with 50 employees and expertise on both corporate and private clients. | Visit Link N/A | |
| #55 | N/A | Transfers of all sizes, private and corporate clients (South Africa) | FinGlobal of the biggest South-African money transfer companies. | Visit Link N/A | |
| #55 | N/A | Mostly corporate clients | Cambridge FX is a known company particularly in the business money transfers space, with 25 years of strong reputation. | Visit Link N/A | |
| #56 | N/A | People who need a currency card | Catxton FX is a smaller money transfers specialist with overwhelmingly positive feedback from clients | Visit Link N/A | |
| #57 | N/A | B2B Clients of All Sizes | Collison & Co is a NZ based financial service provider which also offers a money transfer service. | Visit Link N/A | |
| #58 | N/A | Private and Business Clients, with a particular focus on South Africa | Sable International FX is one of the few South-Africa focused, and based money transfer companies in the world. | Visit Link N/A | |
| #59 | N/A | Private and Corporate Clients who Want to Use a Big Bank for International Money Transfers | Lloyd’s Bank is one of the “Big Four” UK banks, founded in 1765 with more than 45,000 employees. Its international money transfer rates are higher than of those of a specialist foreign currency exchange specialist. | Visit Link N/A | |
| #60 | N/A | Remittances for clients in South East Asia | TikFX is a smooth app with good reviews but a limited usability. | Visit Link N/A | |
| #61 | N/A | Private and Corporate Clients who Want to Use a Challenger-Bank for International Money Transfers | Starling Bank is one of the most hyped challenger banks in the UK. It has an amazing online website and app and has secured hundreds of millions of pounds in investments. Its currency transfer services are limited and more expensive than those of a broker. | Visit Link N/A | |
| #62 | N/A | Remittances to Asia and South America | Pangea offers one of the easiest-to-use apps int the remittances business. | Visit Link N/A | |
| #63 | N/A | Larger Transfers (Only by phone, no online system), Property Specialists | Currency Index Boutique firm with limited functionality (no online trading and no money transfer app) but an excellent service. A Place In The Sun Currency is set up by famous property show and website A Place In The Sun to help property buyers transfer money to and from UK. | Visit Link N/A | |
| #64 | N/A | Currency Accounts and International Money Transfers (Private Customers) | Monese is financial service company with more than 2m customers which provides current accounts and international money transfers. Its offering is not particularly attractive for customers who simply want to transfer money abroad. | Visit Link N/A | |
| #65 | Paymentearth – Read Review | N/A | Money Transfers from USA | Paymentearth is a USA based money transfer company with little information about it online, and no customer reviews to attest for its service. | Visit Link N/A |
| #66 | kbr FX – kbr FX | N/A | Money Transfers from UK | kbr FX is a UK based money transfer company with little information about it online, and no customer reviews to attest for its service. | Visit Link N/A |
| #67 | PagoFX – Read Review | N/A | Focused on private customers | PagoFX is a new Santander bank owned company that is a direct competitor to TransferWise. | Visit Link N/A |
| #68 | Wirex – Read Review | N/A | Payments and Cryptocurrency | Wirex is a groundbreaking money transfer company which utilises cryptocurrency to conduct fast and cheap transfers, but it is currently under FCA investigation. | Visit Link N/A |
| #69 | HiFX – Read Review | N/A | Transfer of all sizes, corporate and private desk (merged) | HiFX was one of the best known money transfer companies in the UK and globally and was merged into XE money transfer. | Visit Link N/A |
| #70 | ForeignExchange.com – Read Review | N/A | Inactive | Foreign Exchange (foreignexchange.com) been announced to go live in 2017 as Gain Capitals’ international money transfer service. It went live briefly in 2019 and then was taken offline. | Visit Link N/A |
| #71 | Sokin Money Transfer – Read Review | N/A | For private and corporate customers and particularly customers who require to make constnat international currency transfers. | Sokin is the first foreign currency transfer specialist offering FIXED monthly subscription and zero fees/markup on international transfers. A revolutionary concept that is yet to be tested (company started operating in 2021) for providing cheap international money transfer services, by every scale, for a monthly subscription. | Visit Link N/A |
| #72 | MultiPass (DynaPay) – Read Review | N/A | Private and business customers who want an advanced online payment platform. | DynaPay is a 2017-established online money transfer company with a focus on businesses and multi-currency account offering. It has changed its brand name to MultiPass in 2022. | Visit Link N/A |
| #73 | N/A | Medium to Large Transfers | EasyFX was a small and unknown currency transfer firm which is now focused on travel money cards. | Visit Link N/A | |
| #74 | N/A | Medium to Large Transfers | Optimal currency is a small, UK-based, brokerage dealing with corporate client and invidiaul clients. | Visit Link N/A | |
| #75 | N/A | Remittances – USA and Guatemala: cash pickup | Novi by Meta (previously Facebook) could change the international money transfers industry by offering a no-fee no-markup transfers, using a digital currency (Stablecoin). It is still in Beta. | Visit Link N/A | |
| #76 | N/A | Transfers from £1,000 – corporate and individuals | CurrencyWave is a small brokerage based in Leeds using Currency Cloud as its payment provider. | Visit Link N/A | |
| #77 | N/A | Transfers of all sizes for Canadian customers | Agility Forex is a very small Canada-facing, Currency Cloud-powered, brokerage . | Visit Link N/A | |
| #78 | N/A | Remittances, Prepaid Travel Cards | FairFX is a publicly traded company which is best known for its prepaid travel money cards, but also offers an international money transfer service. | Visit Link N/A | |
| #79 | N/A | Multi-currency accounts for businesses and indivuduals | The Currency Account is a money transfer company focused on its multi-currency bank account offering which has been operating since 2011. | Visit Link N/A | |
| #80 | N/A | Biggest Australian bank | Commonwealth Bank of Australia is a massive Australian banks with higher international money transfer fees and costs than competing services in Australia. | Visit Link N/A | |
| #81 | N/A | International money transfers, focusing particularly on high end transactions. | The Foremost Cuyrrency Group is a relatively small, UK oriented, FX money transer provider. Great reviews by clients, but very limited reach and selection of currencies. | Visit Link N/A | |
| #82 | N/A | B2B International Money Transfers, Corporate FX Functions, ERP Paymen Integrations | Fexco is a travel money company that has expanded into a multi-national FX payments provider geared at businesses including large corporations. | Visit Link N/A | |
| – | PayPal International Payments – Read Review | N/A | Transfers Online from PayPal to PayPal, or via Debit / Credit Card | PayPal is a giganticly massive online payments giant that offers an array of services for private customers, merchants and businesses. Our focus on this review will to understand exactly what are PayPal fees on international money transfers. | Visit Link N/A |
| – | FC Exchange – Read Review | N/A | Transfers of all sizes (Private Clients Only) | FC Exchange has merged with Global Reach Partners to form the Global Reach Group. | Visit Link N/A |
| – | Global Reach Partners – Read Review | N/A | Transfers of all sizes (Corporate Clients Only) | Global Reach Partners has merged with FC Exchange to form the Global Reach Group. | Visit Link N/A |
| – | N/A | B2B Provider of Currency Transfers | The Currency Cloud is the currency transfer technology powering 500+ institutions including multiple neo-banks and Revolut | Visit Link N/A | |
| – | 97.4% for Payroll, N/A for others | Global Payrolls for Corporations and SMEs | Provider of global payroll services, including ability to hire internationally with a local entity – complex and tech oriented solutions | Visit Link N/A |
Learn more about our top 6 best ways for international transfers
If you want to know more about our best money sending options but don’t feel like reading through the entire review (which normally consists of 3,000+ because we love going into detail), then we have made a short write-up explaining why why our top 10 money transfer companies are these specific companies and not others.
1. Currencies Direct (Best overall)
Currencies Direct is the best international money transfer company as per our editorial ranking for 4 years now. A perfect combination of strong rates, strong service and strong functionality – over the phone, online, through an app where you are able to set up a rate watch, and offering a selection of hedging tools. The company was established in 1996, and has been highly recommended by customers ever since with 95% satisfaction rate. It currently boasts more than 300,000 active customers, both private clients, SMEs and corporations. Currencies Direct is particularly focused on UK customers including expats in Spain, Portugal and France (where they have offices too), but can onboard customers from all over Europe and USA as well. While Currencies Direct is not always the cheapest mean to transfer money internationally, the level of service combined with excellent guidance can help those who have large international transfer requirements achieve the best exchange rates. [Currencies Direct review]
2. TorFX (Best service)
TorFX is the most prominent UK money transfer service which is based outside of London. Its Cornwall headquarters make it easier for them to recruit top level professionals and make themselves the most service-oriented company of the bunch, with staff that has been with them for years and is highly driven and motivated to assist customers and provide bespoke solutions for what they need. TorFX has offices in UK, Australia and Singapore. [TorFX Review]
3. Moneycorp (Best for business transfers)
Moneycorp is a household brand in international money transfers – the first company to operate in this space since 1979(i.e. moneycorp was the first company to approve to international money transfers for its customers back before the FCA or the FSA even existed). The company boasts more than £35bn annually in trading, with offices in every single continent (other than Australia which has shut down as of recent). Their offering includes a lot more than a great online system, no-fees on all transfers and great rates (with unique offers particularly for our readers) – it includes a wide array of hedging tools including the industry’s best Forward Contracts and best FX options. Moneycorp is the best business money transfers provider bar none – both via its payment APIs that connect with many accounting software, as well as its corporate FX desk which is very experienced and has been dealing with big name clients for more than 30 years now. [Moneycorp Review]
4. OFX (Best online money transfer)
OFX is a publicly traded company based in Australia, with AU$20bn annual turnover, which is offer razor-sharp margins and a superb online system, making it most apt for transfers below £5,000 or equivalent. OFX is the ultimate one stop shop because it will handle smaller international transfers and large international transfers, private and corporate, as well as online sellers – they offer a terrific no-hands online system and highly ranked app alongside professional dealers, topped by a very complete multi-currency account. [OFX Review]
5. WorldFirst (Best business multi-currency)
WorldFirst is a CORPORATE-ONLY service for non-U.S clients with a focus on online sellers. The company offers fixed low margins which are somewhat similar to Wise’s at approximately 0.5% markup per transaction, but offers even better rates for larger customers. WorldFirst takes pride in its sophisticated and complete multi-currency account, built to allow online sellers and international businesses to receive funds from abroad in domestic currency and circumvent Amazon’s expensive currency transfer system. WorldFirst has offices in the UK, Netherlands, Australia, Hong Kong, Singapore and Japan and is owned by Ant Financial, the Chinese mega conglomerate which is an affiliate of the AliBaba group. [WorldFirst review]
6. Wise / Transferwise (Smoothest experience)
Wise, formerly known as TransferWise, is a money transfer mammoth which has been recently IPO’ed in the London Stock Exchange is boasting higher trading volume than, perhaps, all competitors combined. Wise was the first money transfer company to bring innovation and transparency into the currency transfer space, and prides itself in razor sharp margins, smooth online system and app, and diverse multi-currency accounts but does not offer bespoke currency dealers. [Wise / TransferWise review]
Notable mentions (also offering cheap international transfers)
- Key Currency Money Transfer Review: Key Currency is a significantly smaller company than those appearing on our top 10 recommendations. Best currency exchange as rated by ADVFN. All clients are directly processed by professional dealers. Excellent service feedback:
- XE Review (XE.COM): One of the global leaders in international money transfers. XE.com, a Canadian venture, is one of the world’s most popular currency websites, established in 1993, and started offering international transfers circa 2002. It was acquired by Euronet and merged with HiFX.
- HiFX Review: This discontinued brand is still sparking interest among our readers, as one of the most prominent money transfer services in the UK up until 2018 when it was merged into XE.com.
- SendFX Review: SendFX is one of the most growing money transfer companies in Australia, boasting Mozo’s 2021 choice as the best currency exchange company. Although SendFX does not have a mobile app and its payment system is not as complicated as competitors like Moneycorp, it has offers excellent rates.
- Airwallex Review: AirWallex is a Australia-based money transfer companies geared at small businesses and larger corporations in Europe, Australia and Asia. With a fixed cost of 0.5% currency exchange fee, and one of the world’s best payment systems, it has been received impressive industry awards.
- Foremost Currency Group Review: Foremost Currency Group is a Hertfordshire-based money transfer service. Customers enjoy the service and have rated it 9.8 / 10 on TrustPilot.
- PaySend Money Transfer Review: Although PaySend, an UK provider, was only established in 2017 it has a very complete offering for both private clients and businesses, including a 24/7 support.
- Smart Currency Exchange Review: Smart Currency Exchange is a mid-sized money transfer business transferring more than £1bn each year. Started in 2004 and prides itself in high quality of service, as also reflected by customer reviews.
- Afex Money Transfer Review: Afex outlier in the foreign currency business. The American business started as early as 1979 and is regulated to operate in Europe, UK, Australia as well as all U.S states. Over the years it has positioned itself as a foreign exchange leader and specifically global payment solutions, boasting Duetche Bank’s luxurious Straight Through Processing Award for 5 years in a row.
Best International Money Transfer for Specific Designations
- Best UK currency brokers: best money transfer brokerages in the UK.
- Best business FX: best services designated specifically for SME or corporate clients.
- Best way to transfer money abroad : location-based recommendations on the right service to use.
- Best online money transfers: the best money transfer platforms for online money transfers.
- Best international money transfer apps: learn which foreign currency app is the best.
- Best for currency (FX) forwards: most popular hedging tool.
- Best for receiving large amounts from abroad: repatriating large sums.
- Best Multi-Currency accounts: accept foreign exchange payments for cheap and with ease.
- Best for cashing a foreign cheque: learn how to cash a foreign currency cheque in the UK.
- Best online payments systems UK: accept payments domestically – credit card processing options.
- Best remittances companies: the best remittance providers (small recurring transfers).
How to verify you chose a safe & reliable service?
Common Questions Relating to Transferring Money Internationally
Learn about foreign currency transfer services before transferring money abroad
Are all recommended services appropriately regulated?
Can you fund your international transfer through a debit card?
Can I use either of the recommended money transfer services for a cash transfer
Do all of these top 10 offer an online platform for payments? mobile apps?
Do all of the top 10 offer hedging tools such as Forward Contracts?
Do all of these currency transfer speicalists offer dedicated account dealers and bespoke advice?
What can I use a money transfer company for?
What can’t I use a money transfer company for?
How to obtain the best international money transfer rates?
There’s more to the equation. Don’t compare the cheapest way to transfer money overseas – focus on service.
If you want to find the best foreign currency transfer service or company, or not just focus on the best exchange rates for international transfers, then look no further. Our top 10 FX comparison is like no other because we don’t focus exclusively on the on the exchange rates; instead, we compare international money transfer services based on factors like trust, reputation, client feedback, and consistency.
While cheap international currency transfers are definitely one of our goals, exchange rates are not the only thing setting money transfer companies apart from big banks.
UK’s Best International Money Transfer
An epilogue
Your bank may be expensive and is charging you with significant invisible fees built into its exchange rate. There are potentially better ways to transfer money internationally, with significantly cheaper costs, using our best rated international money transfer services. Get the best international money transfer rates available on the market through our listing, while understanding everything you need to know about the company you are dealing with.
At Money Transfer Comparison, we give our readers an overview of an industry which is normally not accessible as information is difficult to collate, but still represents the best way, in our opinion, for international money transfers.
Money transfer companies come and go (like AxiaFX or EasyFX which were shut down), they are shut down by regulators (like Wirex that was shut down due to turning a blind eye to money laundering), they use white-label setups (where using one company actually means using the service of another company, for example – Post Office International Payments use Western Union as their provider), they merge (like HiFX and XE did), and they buy each other out (like AliPay bought WorldFirst).
We try to make sense of this highly convoluted industry by creating well-thought, comprehensive, and accurate researches and reviews. We aim to help our readers discover the best international money transfer service for their current, and future, needs. The key to everything we do is accessibility and simplicity, you don’t have to be an expert to make your own international money transfer comparison using our website.