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%
Compare the Top 4 International Money Transfer Services
Below we will compare 4 of the most interesting money transfer companies on the market.
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
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.
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:
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.
We will continue make continuous efforts to improve Money Transfer Comparison:
Thank you for reading,
Managing Director , MoneyTransferComparison.com