Finding the best international money transfer is a hard chore. This is why we established Money Transfer Comparison: a site wholly dedicated to reviews and comparison of money transfer services and currency brokers. We help customers understand how much they are actually paying, how to choose the right service, and figure out which is the best way to transfer money internationally.
Why Use an International Money Transfer Service?
Money transfer services are a great way to save money against banks. Specialised, non-bank, money transfer companies do not charge any fees when sending money internationally, as well as offering competitive currency transfer rates. Money transfer services are highly-regulated and safe, and the top 10 international money transfer companies have an average score of 92% positive reviews by clients (across more than 750,00 reviews recorded online).
Best International Money Transfer Service: Top 10
- Top-rated money transfer companies on MoneyTransferComparison for January 2023
- When we compare international money transfer services, our focus is on large international transfers.
- 96% Positive Feedback from Customers, Since 1996
- Service Oriented - Specialising in Large Transfers - Friendly Dealers
- Very Competitive Rates, No Wire Fees
- Global Leader in International Money Transfers - £10bn in Annual Turnover
- 20+ Global Offices
- Very Friendly Online Platform
- Multi-Lingual Website and Staff
- Fully-Functional App
- Forward Contracts Available
- Will Handle Transfer of Any Size
- Fund Transfers via Domestic Bank Transfer or Debit Card
- Accepts Clients Globally (USA - depending on state)
- 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
- Excellent Online System
- Competitive Exchange Rates
- Many Satisfied Corporate Clients
- Many Hedging Options
- Clients Accepted Globally
- Expertise in Australia with Local Offices
- Providing FX Services since 1979
- Very Recognisable Brand with Excellent Reputation - £36.9in Transfers Annually with Offices in Every Continent
- Business Specialists
- Long-Term Forward Contracts Available, With Many Other Hedging Tools
- Sophisticated Payment Solutions
- Smooth Online System (Tailored for Businesses)
- Many Consumer and Business Awards
- Accepts Clients from any Country
- Fastest Growing UK Currency Transfer Provider
- Strong Onboard Team, Get an Immediate Callback
- Recipient of Multiple Industry Awards
- Close and Personal Touch, Excellent Support
- Specialists in the UK-Spain Corridor with Local Offices
- Competitive Currency Rates
- 99% of its Past Clients Gave the Firm a Positive Review
- Best Rate Guarantee: Global Reach Group Will Beat Any Competing Quote
- Strong Global Reach with Offices in UK, Europe, and Canada
- More than Two Decades of Experience
- Excellent Website
- Award Winning Client Technology
- High Level of FX Expertise and Guidance
- Operating for 15+ Years
- Does not Accept USA-Based Clients
- Best Customer Satisfaction Score on TrustPilot
- Welcoming and Clear Website, Easy to Sign Up
- Excellent Currency Transfer Rates
- Specialising in BRL Transfers
- Very Proficient Trading Team
- Many Business Clients
- Does not Accept USA-Based Clients
- Traded Publicly in Australia
- £20bn Turnover per Year
- Ultra Professional
- Very Tight Margins and no Fees
- 24/7 Support
- The Best Money Transfer App
- 115 Bank Accounts Across the World
- Accepting Clients from Everywhere
- Largest Money Transfer Provider of its Kind
- Fully-Online Journey
- Transparent Pricing
- Best Rates for Small Transfers (Approximately 0.5% on Average)
- Margins don't Change Based on Deal Size
- Very Easy to Use
- Quick Transactions
- Best FAQ Section
- No Dedicated Dealers Available
- Clients Accepted Globally
For Ecommerce and Business Clients (Not Accepting Private Clients)
- Best Rates for Business Transfers
- Authorised by 6 Global Regulators
- Asian Currency Specialists
- Excellent Multi-Currency Offering for Online Sellers
- Operating for 15+ Years
- Owned by Ant Financial, a Global Payments Giant
- Courteous Staff
- Largest Selection of Currencies
- Does not Accept USA-Based Clients
These top 10 foreign exchange providers are recommended by MoneyTransferComparison for international currency transfers. Compare money transfer companies side by side using this link. Please see our disclaimer for information on our affiliate relationships and compensation. This list is a small selection of the non-bank providers we have reviewed since 2014.
What is MTC (Money Transfer Comparison)?
Our comprehensive 200+ pages-long guide will help you discover more than 80 different providers, explain the how international money transfer fees are calculated, and why we believe dedicated currency transfer specialist may be the cheapest way to send money internationally…. and of course how to figure out which is the best service to transfer money internationally with.
How many foreign exchange companies offer international money transfers?
There are more than 1,000 foreign exchange companies across the globe that enable customers to send money internationally. At Money Transfer Comparison, our goal is to help individuals and businesses find the most cost-effective method for international money transfers which entail foreign currency exchange. There are more than 80 service reviews on this website to enable customers to thoroughly compare money transfer companies.
How to use this guide?
Bank customers in the UK, EU, USA, Australia, Canada often overpay for international money transfers and are unaware of the associated costs and fees. Our website empowers readers to make informed decisions and choose the best service for their needs. Simply use our “Get a Quote” button to compare rates and receive a bespoke quote in minutes. Explore the international money transfer industry and learn about the pros and cons of various services with us.
As Seen On
What is a Currency Transfer?
A currency transfer is an international money transfer that involves exchanging one currency for another. For example, if you need to transfer money from the UK to the EU and the recipient needs to receive Euros, a currency exchange from Pound Sterling to Euros would be necessary. This is also known as an FX transfer.
Why consider using a non-bank money transfer service?
Banks can be expensive, non-transparent and not very service oriented when it comes to international money transfers. Sending money internationally with a provider can be a cheaper and more pleasant experience, so those who need to make large transfers or frequent transfers often seek for a viable bank alternative.
Do all foreign exchange companies offer sending money internationally?
Foreign exchange companies is a holistic term referred to every company dealing with foreign exchange. Not all foreign exchange companies offer international transfers as a part of their offering. Most foreign exchange companies are focused on cash exchanges (currency exchange) and that is something that designated currency transfer entities don’t do.
Across Money Transfer Comparison we might refer to service providers as money transfer services, money transfer companies, foreign exchange companies, foreign exchange providers, international payment service, international payment provider, currency broker, currency specialist, online money transfer, and many more variations. In essence, they are quite synonymous.
Can you use such services only to make international payments?
The most common-use case when registering with a money transfer service is to use it for an international payment that involves foreign exchange (known as FX payment), but you can also use it to make a currency exchange between two accounts you own which does not contitute as a payment.
Are money transfer services a better option than banks for international money transfers?
In some cases, money transfer services may offer lower fees and higher customer satisfaction compared to banks. These companies, which are often smaller financial institutions, may also provide a more bespoke approach.
However, it is important to note that this is not always the case. Some customers may find that their bank offers more favorable terms, including low foreign exchange rates, for their international money transfers. It is important to consider all options and choose the one that best meets your needs.
Is it safe to transfer money internationally with a non-bank?
Properly regulated money transfer services are a safe alternative to banks. These companies are regulated by the FCA in the UK and must follow certain rules and report their activities annually. In other countries, foreign exchange companies must be authorized by local regulators such as FinCEN in the US or ASIC in Australia to operate. Many currency transfer specialists, including those on our top 10 list, are regulated by multiple regulators and have a long history of handling billions of customers’ funds with a seamless transfer experience.
Are money transfer companies limited to operating in the UK?
While some money transfer companies are based in the UK and initially served only UK and EU residents, many have since expanded and obtained licenses to serve customers in countries such as the US, Australia, Canada, non-EU Europe, New Zealand, and the UAE, among others. It is necessary to research specific companies to determine which nationalities they accept.
What are Third-Party International Money Transfers?
Third-party international money transfer refers to companies and services that do not have their own payment infrastructure, but rather utilize bank infrastructure. These services typically act as currency transfer wholesale brokerages. Most of the services we have reviewed fall into this category, with only larger payment providers typically having their own payment infrastructure
Is it safe to shop around for money transfers?
Many people who need to make an international money transfer, especially large transfers, may default to using their bank without considering other options or the associated fees. This may be due to a lack of awareness of alternative options such as international money transfer services, or a belief that these services are not safe enough to use for large sums of money.
However, both of these assumptions are incorrect. There are numerous reputable international money transfer services available, and these companies must adhere to strict regulation in order to maintain their licenses. This includes the use of segregated accounts co-owned by the customer and the company, and the requirement to only use money for the purpose specified by the customer’s instructions. As long as a money transfer service is licensed by a trusted regulator such as the FCA in the UK, customers can have confidence that their money will be secure during the transfer process.
Can I save a lot of money by comparing my options?
You can transfer money internationally for cheaper than banks if you shop around. In fact, although banks are still the most common method of international money transfers, they are not competitive at all when it comes to foreign exchange fees and are not providing the best international money transfer rates*.
- Better Fees: In the UK, most “high street” banks would charge £10-£30 in international wire transfer fees. In the EU, it would be approximately the same amount in Euros (depending on which specific country). Comparably, international money transfer service providers, and particularly the ones we have selected as the “best money transfers of 2023” don’t charge any fixed fees per transfer, at all, regardless of where you’re sending money from or the currency’s destination. That by itself can represent a massive saving especially if you send currency abroad on a regular basis.
- Better Money Transfer Rates: In the UK, banks charge a markup from each transfer “baked” into the foreign exchange rates offered to you. For example, if the Pound to USD rate is 1.15, the bank could be offering you dollars for 1.11 instead. While this may appear like a minor, insignificant, markup, it means you’ll be paying close to 3.5% more for each dollar you’re buying. For large international money transfers, this is what makes banks unbelievably expensive.
- The Best Way to Transfer Money Internationally: When you combine the two factors above you come to the realisation there is indeed a lot of money to be saved if you opt for cheaper international money transfers through a dedicated service instead of just opting for the easiest option (and there’s no doubt using your existing bank account is indeed the easiest option).
* It should be noted that this blanket statement isn’t true 100% of the time. Some banks offer some particular customers, specifically HNW (high net worth individuals), and large corporations for the most part, much better exchange rates than they do for their “average customer” and they could be competitive… but for the most part, banks simply aren’t.
Is it difficult to use an alternative to your bank for international money transfers?
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. However, those with dual residency may find it easier to use a UK passport to sign up.
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 is not going to be cumbersome, like opening up a bank account, as money transfer companies have much more of a fintech-focus (relying on technology) compared to banks. It might consist of a few emails exchanged with requests for documents or questions relating to the source of financing.
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).
Our international money transfer comparison also consists of a parameter for the “ease of signing up” so our recommendations are quite inclusive of that. We have laid out more information about the process itself, and how you fund your international money transfer in our guide dedicated to transferring large sums of money abroad.
What is an online money transfer service?
Many top foreign exchange companies that offer bank-to-bank currency transfer have an online platform available for users. This platform allows for a quick and efficient process for making international money transfers. Some money transfer companies, such as Wise Money Transfer, are online-only and as such do not offer phone or email support or a dedicated currency dealer.
Should you use an online money transfer service?
Using an online platform, such as a provider’s website or mobile app, to transfer money abroad only requires a bit of confidence in your ability to navigate the system and enter the correct information. If you are certain you can do this, there is no reason the transfer should go wrong. In fact, Transferwise has received positive reviews for their excellent online-only platform.
To successfully make an online transfer, you will need to ensure you have the correct recipient account details and accurately fill out the transfer form. You may also need to provide details about the nature of the transaction, as required by electronic money regulations in the UK.
Pros of using an online platform for money transfers include a faster process, especially for repeat payments, the ability to see and compare rates to current interbank rates, the ability to track the status of your transfer online, and the lack of need to share personal documents through email. Cons include a lack of individual guidance on the transfer, a lack of ability to negotiate the rate, and an inability to receive payments from abroad, clear checks, or book advanced contract like a Forward Contract.
Is receiving money internationally supported?
Many money transfer services, aside from a few remittance service providers, typically allow for the receipt of money internationally. With currency brokers, it would mostly be about receiving large sums of money from abroad, but some specific companies even offer a multi-currency account, which is an alternative to a traditional bank account that allows you to receive, store, and make payments using funds, while also offering competitive currency exchange rates.
The following diagram explains further how receiving money for cheap is made possible via money transfer services:
Which company offers the best international money transfer rates?
You may have noticed that, unlike some of our competitors, we do not list specific money transfer rates next to each company. The reason for this is that, in most cases, the actual currency exchange rate you will pay depends heavily on your individual circumstances. Factors such as the amount of money you are sending abroad, the currencies involved in the transfer, and overall currency market volatility can significantly impact the exchange rates offered by a provider. Regardless of the amount you are transferring, whether online or via phone, and regardless of the currencies involved, these services will generally offer significant savings compared to banks. However, the exact amount can only be quoted in real-time after you sign up.
To learn about the cheapest international money transfer view this dedicated article, or have a look at the selection below on a per-category basis:
Which are the best providers per coridor?
On Money Transfer Comparison, we also offer guides that feature the best international money transfer services for transfers between two specific countries (also known as currency corridors). You can visit our country-to-country 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 France and from France to USA
- 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
- Transfer money to and from UAE
- Transferring money from South Africa to UK, USA, Australia
Are there additional methods to save money on global money transfer?
In addition to using the right service provider, you can also save money by:
- Exchanging money at a favorable rate. It can be difficult to predict, but if you are successful, you can get the most for your pound sterling.
- Similar to the above, you could consider booking a Forward contract rather than a spot FX contract. This means fixing today’s exchange rates 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. 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. Of course, it doesn’t make sense to exchange more currency than you need, but if you have a few transfers that you intended to split, consider where the rate may move in the future and the savings you could make by processing the transfers in a single, larger sum. On the other hand, 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).
Why does Money Transfer Comparison offer so many reviews?
Having a wide range of options to choose from is key to making informed decisions.
Our international money transfer comparison and guide involves a lot of research so that you don’t have to. We have compiled data on a large number of money services and made a concerted effort to cover them as thoroughly as possible. If you are patient and methodical, you can narrow down the currency transfer options that interest you by reading our money transfer reviews. We are proud to provide editorial reviews of the most prominent money transfer companies in the UK and globally.
Are bespoke money transfer services necessarily the best way?
Our research has consistently shown that commercial brokerages or money transfer services are generally cheaper than banks and digital wallets for international bank-to-bank transfers and offer a better value proposition. Hundreds of thousands of customers have described their experiences with the top 10 money transfer providers in the UK as “positive,” noting the cost and time savings compared to using banks.
At Money Transfer Comparison, we believe this is a winning deal: obtaining competitive international money transfer rates, paying no international wire fees, and receiving superior service from professionals. Therefore, our research primarily focused on money transfer companies. However, we did review a small number of major UK banks, UK neo-banks, Australian banks, and online digital wallets.
Please note that the currency transfer services we cover on this page do not support domestic transfers. You can use a multi-currency account for same-currency payments. Also, please note that the foreign currency services listed on this page do not offer travel money or any other form of cash transfers.
How do banks compare with money transfer companies?
Banks charge anywhere between 1.5% and 3.5% in hidden costs per transaction (a markup incorporated into their international foreign exchange rates), in addition to wire fees ranging from £12-25 with most banks. In addition, customers often receive a somewhat lacking and partial service. There is limited support for the transaction itself, including verifying that the details are complete and correct, guidance on the best timing for the transfer, or tracking whether the transfer has reached its destination. Small businesses and individuals do not have access to full foreign exchange management services, such as forward contracts and other FX hedging tools. A comparison summary is provided 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%, up to 3% for major currencies, and up to 7% on exotic currencies. 2-3% would be a good rough global average.||On average, below 1%, with some companies like Wise showing an average currency exchange markup of ~0.5%. Could be as low as 0.1% currency markup if the deal is big enough and client negotiates with the international money transfer provider.|
|👨 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 equivalent. Private and business clients.|
How do online wallets compare with dedicated money transfer services?
Instant money transfer services like PayPal i charge very high fees for currency exchange (around 4.5%-5% depending on currencies), in addition to various other fees that can amount to an additional 5%. However, transfers are always delivered instantly (and the recipient does not need to provide bank account details, just a PayPal email address). With PayPal, you do not have access to advanced foreign exchange services; the offering is simply the transfer of money from one PayPal account to another online.
While PayPal and other competing services, known collectively as “eWallets,” may be the easiest and fastest solution for money transfers abroad, they are too expensive to be considered for large international money transfers. This is in contrast to the best international money transfer services like Currencies Direct, Moneycorp and TorFX, which are not instant but offer preferable rates for large foreign currency transfers, even though the process of using them is not instantaneous (as it requires verification)
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 includes 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 refer to companies like Moneycorp that specialise in the provision of exemplary service and a wide arrange of hedging options. These companies ultimately make their transactions through BANKS (as opposed to their own payment networks), and hence are logically named brokerages. Brokerages fulfil 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 January 2023
- View the best currency brokers in UK, updated January 2023
- View the best business FX and corporate foreign exchange, updated January 2023
- View the best international money transfer apps, updated January 2023
- View the best international money transfers in Australia, updated January 2023
- View the best international money transfers in USA, updated January 2023
- View the best international money transfers in Canada, updated January 2023
- View the best international money transfers in South Africa, updated January 2023
Compare International Money Transfers: Top 6
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: January 2023
- 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, USA, HK, and UAE.
- Our Rating : 92.8%
- Business Oriented, Many High Profile Business Customers
Industry Veteran since 1979
Diverse Hedging Options and Excellent Guidance
International Money Transfer Companies Comparison – Complete List
Displaying 82 money transfer companies, Updated for: January 2023
|Company||Our Rating||Recommended for||Description||Visit|
|Transfers of All Sizes, Bespoke Service from £5,000 and Up||Currencies Direct our #1 best international money transfer service, bar none, for customers from UK and EU. The company is the biggest of all money transfer companies of its kind (the ones offering an online money transfer alongside bespoke currency dealers) in those regions.||Visit Website|
|Large Transfers (Private and Corporate Clients)||TorFX is a Cornwall-based award-winning money transfer service that prides itself in its traders’ high level of professionalism and bespoke currency service. The company is geared at large or complex payments.||Visit Website|
|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 £38bn annually, with the most diverse offering for business clients (hedging and payments).||Visit Website|
|Medium to Large Transfers, Corporate and Private||Key Currency is one of the most well known up-and-coming international money transfer industry in the UK. It boasts a clean website, good user reviews and growing recognition.||Visit Website|
|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|
|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|
|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|
|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|
|* Only for E-Commerce and Business Clients. Private clients not accepted.||WorldFirst is an online-seller focused payments and multi-currency account. It is the very best to when it comes to technological integrations and Asian currencies for SMEs. WorldFirst is owned by Ant Financial (Chinese Conglomerate).||Visit Website|
– Read Review
|** Australian Customers Only (Business and Private)||Send Payments, previously known as SendFX is an up-and-coming Australian money transfer company which has been doing very well and gaining popularity in its home country.||Visit Website|
|Small to Medium Transfers – Strictly Online||Wise (TransferWise) is the most recognisable name today in the money transfer business. The company recently went through 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|
|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|
|Small Trades, Remittances||Instarem is a leading, 2014-established, online money transfer and remittances specialist with good rates, excellent global reach and high customer satisfaction.||Visit Link N/A|
|£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|
|B2B and B2C Payments, Multi-Currency, Business Payments||Payoneer has a 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|
|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|
|Medium to Large Transfers, Individuals and Corporate Clients||CurrencyUK has been awarded 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|
|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|
|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|
|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|
|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|
|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
|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 from the USA and Canada.||Visit Link N/A|
|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|
|Remittances and Small Transfers, Cash to Cash Transfer||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|
|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 mould of your standard money transfer company.||Visit Link N/A|
|Remittances||Azimo was a leading remittances providers in the UK and Europe and was bought out and merged into Papaya Global.||Visit Link N/A|
– Read Review
|Remittances from £50 and up||Orbit Remit is one of the most promising remittances providers offering solid fees and exchange rates, a 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|
|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|
|Small Remittances Transfers||TransferGo is a remittances provider with 8,000 reviews and a very high percentage of client satisfaction. The fees are low, and the markup is only up to 2.2% per transfer.||Visit Link N/A|
|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|
|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|
|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|
|Transfers of all sizes||Virgin Money’s International Payment services are limited to business customers online, and are only available via direct communication with the bank to retail customers (phone or in-branch). Virgin Money’s international money transfer rates are very poor.||Visit Link N/A|
|Multi-currency account solutions and money transfers for small businesses and merchants in EU||Genome.eu is a supplier of multi-currency account solutions and other banking solutions for EU based businesses.||Visit Link N/A|
|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|
|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|
|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 service. 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 run by Western Union.||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 has now been discontinued .||Visit Link N/A|
|#43||N/A||Transfers of all sizes||Telegraph International Money Transfer service refers customers to moneycorp.||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 complaints. Its services have been discontinued.||Visit Link N/A|
|#47||N/A||Tech-loving corporate clients||AirWallex is a cross border business payments startup with a focus on its payments API which has helped the firm reach unicorn status. It offers diverse functionality for businesses.||Visit Link N/A|
– Read Review
|N/A||Medium to Large Transfers||Transfermate is a fairly large money transfer service operating for over 10 years in a variety of currencies and countries, getting good feedback, and is on a growth trend.||Visit Link N/A|
– Read Review
|N/A||Medium to Large Transfers||Paysend offers low fixed fees, great user reviews and a rather comprehensive and unique offering is provided 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 run 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 run 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 run 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||Caxton 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 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 a 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|
– 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|
– 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|
– Read Review
|N/A||Focused on private customers||PagoFX is a new Santander bank owned company that is aspiring to be a direct competitor to Wise.||Visit Link N/A|
– 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|
– 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|
– Read Review
|N/A||Inactive||Foreign Exchange (foreignexchange.com) was 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 constant 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|
– 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 both corporate client and private clients.||Visit Link N/A|
|#75||N/A||Remittances – USA and Guatemala: cash pickup||Novi by Meta (previously Facebook) could have change the international money transfers industry by offering a no-fee no-markup transfers, using a digital currency (Stablecoin). It was in Beta and then discontinued by the Facebook team due to regulatory pressures.||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 individuals||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 bank 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 Currency Group is a relatively small, UK oriented, FX money transfer 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 Payment 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|
|#83||N/A||Remittances – Online and on Branch, Receive in Bank Account or Cash||Western Union is the 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|
|#84||N/A||B2B International Money Transfers, Corporate FX Functions||Alpha Group, previously known as Alpha FX, is a major provider for business money transfers in UK. The firm boasts net assets in excess of £120m, over 200 staff and annual trading volumes of £20bn.||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 gigantically massive online payments giant that offers an array of services for private customers, merchants and businesses. Our focus on this review is to understand exactly what are PayPal fees for making international money transfers.||Visit Link N/A|
– 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 7 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 our top 10 money transfer companies are these specific companies and not others.
1. Currencies Direct (Best overall)
Currencies Direct has been our top-ranked international money transfer company for 4 years now. It offers a perfect combination of strong rates, strong service, and strong functionality, including phone, online, and app payments, as well as a rate watch feature. The company was founded in 1996 and has consistently received high recommendations from its customers, with a 95% satisfaction rate. It currently has over 300,000 active customers, including private clients, SMEs, and corporations. Currencies Direct offers a wide variety of currency hedging tools and is happy to help clients determine the most appropriate solutions for their needs. While it is not always the cheapest option for international money transfers, the level of service and excellent guidance make it a great choice for those with large international transfer requirements. [Currencies Direct review]
2. TorFX (Best service)
TorFX is the most prominent UK money transfer service based outside of London. Its headquarters in Cornwall make it easier to attract top-level professionals and maintain a customer-focused approach, with staff that have been with the company for years and are highly motivated to assist customers with bespoke solutions. TorFX has offices in the UK, Australia, and Singapore. [TorFX Review]
3. Moneycorp (Best for business transfers)
Moneycorp is a well-known brand in international money transfers, having been the first company to operate in this space since 1979. It has annual trading of over £35bn and offices on every continent (except Australia, which recently closed). In addition to offering a great online system, no fees on all transfers, and excellent rates, Moneycorp also provides a wide range of hedging tools, including industry-leading forward contracts and FX options. It is the best provider of business money transfers, with both payment APIs that connect to many accounting software and a corporate FX desk with decades of experience serving major clients. [Moneycorp Review]
4. OFX (Best online money transfer)
offers sharp margins and a superb online system, making it suitable for transfers of less than £5,000 or equivalent. OFX is a one-stop shop that can handle small and large international transfers, both private and corporate, as well as online sellers. It offers a convenient no-hands online system and highly ranked app, as well as professional dealers and a comprehensive multi-currency account. [OFX Review]
5. Key Currency (Best up and coming provider)
Key Currency is a small but rapidly growing brokerage that is committed to offering excellent service and exchange rates that beat the banks. Like TorFX, Key Currency is based in Cornwall and has an experienced and loyal dealership team. It has been recognized as the Best Currency Exchange Service at the ADVFN International Financial Awards for 7 years in a row. All customers receive personalized service and have the option to receive guidance on exchange rates. The company provides an honest and trusted service for international money transfers, helping thousands of clients send money overseas and earning a TrustScore of 4.9/5 based on over 1,300 customer reviews. Its business ethos is simple: provide people with better exchange rates, treat them well, and get money from A to B safely and properly. [Key Currency Review]
6.Global Reach Group (Best FX Risk Management Programme)
Global Reach is a comprehensive solution for both private and business customers. It has a professional team of FX dealers, some of whom are qualified to offer FX options to business clients. Global Reach takes a consultative approach and its experienced team helps customers develop a personalized currency strategy, whether for simple A to B transfers for personal clients or for establishing a currency hedging and FX risk management program for businesses. With over 20 years of experience in money transfers, Global Reach is a respected brokerage with a strong focus on safety and compliance. [Global Reach Group Review]
7.Wise (Best Known, Largest Money Transfer Company)
Wise (formerly known as “TransferWise”) is a revolutionary tech-oriented company that has gained a massive customer following, boasting as much as £6bn in monthly trading (while most other providers in this space do single digit billions annually, and even the biggest Wise competitors like Moneycorp with more years of experience boast no more than £38bn/yr in revenues). Wise has made international money transfers accessible and viable, becoming synonymous with the term. In fact, there are currently more people searching for the Wise brand than those searching for the best way to transfer money internationally. Wise offers clear and transparent pricing and enhanced product capabilities compared to its peers, with the only downside being that it is not specifically geared towards large international money transfers in the form of bespoke currency dealers and the like.e. [Wise Review]
Notable mentions (also offering cheap international transfers)
- 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 Deutsche Bank’s luxurious Straight Through Processing Award for 5 years in a row.
How to verify you chose a safe & reliable service?
While the top 10 money transfer companies have similar offerings, the details can vary. Our international money transfer comparison can help you determine which service is best suited for your needs. Keep in mind that transferring money overseas is not a one-size-fits-all situation. For example, sending a small gift to an aunt is very different from a multinational business transferring millions in salaries each month. If you are unsure which service to choose, consider signing up with multiple companies so you can compare the money transfer rates in real-time. To verify the safety and reliability of a money transfer service, be sure to read our detailed reviews.
Then, carefully register for a free account with the company and log into the online system to understand the process and rates being offered. You can also ask for a callback from a company representative to get a firsthand impression of their level of professionalism. Don’t commit to a foreign currency trade before you feel completely comfortable with your choice and are certain you have selected the best bank-to-bank foreign currency transfer specialist.
Best way To Transfer Money Internationally from UK: Summary
Your bank is likely charging your higher fees on international money transfers than you’re aware of. Banks do so by adding a hidden markup on currency exchanges, which may cost you as much as 5% of the total amount transferred. For large international money transfers, it is extremely important to compare your money transfer options and decide on which bank or provider to use in order save money (while not compromising over safety or quality of service). A 3% saving on a £100,000 transfer means £3,000 more at the end of the process.
At Money Transfer Comparison, we make comparisons easier than ever before with tailored recommendations per usage, and in-depth reviews of many leading UK money transfer services. We stay up to date with the industry and constantly improve our reviews and content so you won’t have to. Just sit back and find the best international money transfer path for your individual needs, with ease.