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 Rated Money Transfer Services
Updated for: June 2019
- 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
Best Rate Guarantee (UK)
- Min Transfer: £/€/$ 100
- Currencies Supported: 40
- Offices : UK and Australia + Bank Accounts Deployed Globally
- Our Rating : 93.4%
- Friendly, Professional Service
Corporate FX Expertise
Superb Rates, No Fees
Additional Top 10 Money Transfer Companies:
|Company||Our Rating||Recommended for:||Description||Visit|
|92.8%||Medium to Large Transfers (Private and Corporate Clients)||One of the oldest and most respectable currency companies in the UK. Known for providing outstandingly professional service. Holds an offshore banking license alongside its FCA authorisation.||Visit Website|
|90.6%||Medium to Large Transfers (Private and Corporate Clients)||Professional and Friendly. Highest Average Transaction Volume by Private Clients. Merger of two leading money transfer firms: FC Exchange and Global Reach Partners, covering the fully array of both corporate and private.||Visit Website|
|90.4%||Corporate Payments, Large Payments, Remittances||Headquartered in Australia and publicly traded on the ASX. Largest annual trading volume of 20bn. Recently rebranded and redesigned. Great online system and professional service.||Visit Website|
|86.8%||Remittances and low-value Transfers||Fixed, low, rates. Easy sign up process. Good reach. High credibility. No dedicated dealers, regular payments, or derivatives.||Visit Website|
Which Are the Best International Money Transfer Companies
Our Review and Comparison Guidelines Explained
We have compared more than 40 currency 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.
Level Service: 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.
Reputation: 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.
Low International Money transfer Fees and Rates: no direct international money transfer fees, competitive FX rates for high-amount international transfers, with no hidden fees of any sort.
Features and Functions: functions such online money transfer platform, a mobile app enabling Forward Contracts and other corporate FX hedging, and of course – offering regular payment options.
Global Reach: 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 money transfer companies and decide on the top 10 money transfer companies can be found in our FAQ.
What’s the difference between a great money transfer company and a bad money transfer service?
Superb Money Transfer Service Experience
– Your time-wasting will be minimised upon sign up or speaking to your representative.
– Your money is protected even if the company goes into bankruptcy, as the company is properly regulated as an Authorised Payment Institution by the FCA.
– You always know exactly how much you’ll be paying and how much you’ll be getting back in FX – no sneaky hidden money transfer fees.
– The staff will be knowledgeable and experienced and will be happy to assist with all aspects of your transfer. For high-amount international transfers, you will have a dedicated dealer offering guidance on the best timing to make the trade to benefit from favourable exchange rates.
– You will be treated respectfully, and won’t be pushed around by the salesperson to TRADE NOW against your own interest.
– You could choose whether to perform the trade through giving instructions over the phone, via email, through an online platform on your laptop or desktop, or through an advanced mobile platform.
Lousy Money Transfer Service Experience
– Unnecessarily long sign up process without the ability to upload your verification documents online through a system.
– With lack of proper regulation, your money is at risk if the company goes into bankruptcy or opt to scam its clients.
– The money transfer fees and exchange rates will always be opaque. You will only truly know what you paid on a transaction in retrospect, through using a money transfer fee calculator.
– The level of that money transfer company’s service will be basic at best. Your representative will not make any effort to understand your needs, and instead apply unfair pressure to move forward with your trade using him (so he can net a hefty commission).
– Whether transferring £100 or £10,000 you will have access to the same “plain vanilla” exchange rates and offering (with no hedging tools available). No guidance would be guidance or analysis of today’s exchange rates and when is the optimal timing to exchange money.
– The money transfer service will insist on communication via telephones and faxes, like it was back in the day.
How will the top money transfer service compare to a high street bank?
This is how commercial money transfer companies, such as the ones reviewed on our website, will help you save money in comparison with banks. Don’t take our word for it – though!
We recommend you to ask for a foreign money transfer quote from your bank, compare it with the money transfer service of your choice, and verify that indeed you are saving money. We do not recommend that you will necessarily opt to work with the cheapest money transfer rates you bump across – there are a lot more considerations than that – but there is no reason that you would not have access to cheap international money transfer rates.
No fees and commissions
High street banks charge high fees for international (SWIFT) wire transfers, and sometimes, they would even charge extra commission on top of that. The companies in our Top 10 Money Transfer List charge neither fees nor commissions. Bank fees on international transfers can reach up to £25 in the UK, €30 in Europe, and $50 in the USA, Canada or Australia!
Better foreign exchange rates:
As a rule of thumb, the foreign money exchange itself should be a lot cheaper with our top rated companies over banks. The larger the transfer, the higher the savings, as you’ll get better quotes. To make sure you are indeed getting the cheapest international money transfer rates, you could sign up with multiple companies and ask for a quote at the same time. We don’t compare real-time money transfer rates on this website, but that comparison will be much more viable if the client would perform it himself whenever he requires to transfer money abroad.
Payments are optimised, and payment schemes are bespoke:
Each client is assigned to a unique foreign exchange specialist in order to create a bespoke plan that will optimise savings, leveraging an array of technological tools and hedging tools like Forward contracts, embedded inside their online platform. The international money transfer routes will be orchestrated in a manner in order to avoid unnecessary bank fees (such as intermediary and recipient bank fees). In most cases, the international money transfer companies that made it to the top of our comparison, will be transferring the funds between two bank accounts owned by them and transact to the recipient’s account from a domestic-currency account located in the same country
Guidance on currency rates:
Clients don’t have to make uneducated choices about the right timing of exchanging currencies. Instead, a dedicated FX staff member will guide each client and aid him in making his international bank to bank transfer when the timing is right, according to the client’s needs, allowing him or her to get the most bang for their buck (or Sterling).
Currency Exchange Comparison: Foreign Exchange Companies Vs. Commercial Banks
Here is a simplified table demonstrating the differences between a top-10 international money transfer service and a bank. To view a full fx companies vs banks comparison piece follow the link.
|Top Money Transfer 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.|
Best Money Transfer Offers for 2019
We have teamed up with some of the top 10 largest money transfer firms, based on our rating, to provide some unique money transfer offers for our readers. View the slider below and discover some of our hottest deals. Please contact us if any of the firms fail to stand up to their word. We will do whatever we can to help out and get you the result you want.
We Compare International Money Transfer Services For:
Overseas Property Buyers:
Individuals needing to transfer money internationally to a bank account abroad, usually for an asset located abroad. Money is paid either instantly, through a single transfer, or in instalments.
These individuals require high levels of safety and trust, as well as solid guidance on how to hedge future payments. The larger the transfer, the better the money exchange rates that the property buyer should expect.
SME’s that either import/export goods, receive payments in foreign currency, or pay salaries to employees abroad. Business owners and money managers look for nothing but top-notch companies. These are the largest organizations that have been in business the longest, are highly regulated, and possess the highest liquidity, which will allow them to provide the best money transfer rates.
It is estimated that there are over 50,000,000 expats worldwide, all of whom need to internationally transfer salaries or pensions, and make small or large payments, on a regular basis.
The company that these expats will choose must have a wide global reach, an easy sign-up process, and intuitive online platforms. These traits can make the expat life so much easier!
It is estimated there are over a billion travelers every year. They need to exchange cash. Exchange beauruex provide horrible rates, so they seek an alternative.
What these individuals are looking for is pretty simple: save on expenses. The process must be easy, quick and secure. They sign up, load funds from their debit or credit card, and a receive cash delivery.
Working immigrants need remittances services that have high global reach, and do either bank-to-bank or bank–to-cash transfers with minimal fixed fees, and best currency exchange rates on the market.
There are 123 mobile phones for every 100 UK citizens, which says everything. People are accustomed to perform all their daily tasks through their mobile devices, and international money transfers should be no different.
Techies expect a smooth mobile experience, by a native app that enables users to set a market watch alert on certain currency pairs and transfer promptly.
Bottom Line: We Stride 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 payment 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:
Note: Our site can be used by people from most countries around the globe. The majority of our clients are UK expats, property buyers and small businesses, but the companies we review, and our recommendations, are applicable for a lot more people from almost every location in the world. We boast a significant amount of readership from EU countries, predominantly Spain, Germany, France and Italy, as well as North American readership in the USA and Canada. We are also vast popular down under in Australia and New Zealand, and in a variety of other countries across Asia, Europe and Africa. Transferring money internationally from Switzerland, Singapore, Hong Kong, South Africa, Sweden, Norway, UAE, Qatar and more than 100 additional companies is made easy with Money Transfer Comparison.
International Money Transfer Comparison: Editor’s Note
By Matt Di Vincere, Chief Editor, MoneyTransfercomparison.com
With MoneyTransferComparison.com becoming the leading site for international money transfer information since its establishment in 2014, we consider this a good time to thank our loyal readers.
Ever since our launch, we have attracted readers who are keen to engage. There are more than 1,000 comments that people left us over the years, more than 100,000 clicks on recommended company quotes, and more than £300,000,000 transferred through our partners following our referral.
We are absolutely stunned by the amount of love and respect we have earned in several different industries in multiple locales. MoneyTransferComparison.com has been rapidly recognised as an authority in the international money transfer industry.
Below are our New Years’ resolutions and aims for 2019, namely to give you, the readers, an ever-improving experience while using the site.
Thank you for reading,