As technology progresses, the number of people interested in conducting mobile money transfers with no human involvement is increasing. Companies like Currencies Direct, World First, Transferwise, Azimo, and OFXhave mastered the art of the swift, hassle-free registration process, and easy apps and online systems to transfer money on the fly and are considered the best currency transfer specialists. Discover the best international money transfer apps below for iPhone and Android.
Top 10 International Money Transfer Apps
Highest Rated Money Transfer App: Global Availability
Are all of these apps regulated? is my money safe?
Yes. All money transfer services on our top 10 money transfer apps list are authorised by the FCA for overseas payments. Your money is protected by the safe measures the FCA enforces on these companies, including segregating client funds from their own.
How do you fund your tranfer?
Either via debit or credit card (more expensive) or simply through a domestic bank transfer to an account provided to you.
Can I send a payment through these apps and recepient will receive it in cash?
No. Only bank to bank transfes are supported. The recipient will have to have a valid bank account.
Once I create a user for the app, could I login into the companies desktop site too?
Yes, of course. You could even call your provider and make the transaction over the phone. Whichever way you prefer.
Most of these companies would be considered brokerages with the exception of Revolut (which is a payment startup), Azimo (which is more geared towards remittances) and Wise.com (which is a form of a currency brokerage that has outgrown its brokerage stage).
Funds are loaded via bank wire or debit/credit card. The process is elaborated and clear on how to do that and you get constant updates about your transfer. All our best money transfer apps on this page offer sending money via app for Android and iPhone.
All apps featured on this webpage are authorised as payment providers by the Financial Conduct Authority in the UK. The money you transfer them to fund your transfer is kept in segragated client accounts.
The foreign exchange rates offered by these companies are far superior to those offered by banks or payment systems such as Paypal. For example WorldFirst offers FX margins of 0.15%-0.5%, while Paypal’s currency exchange fees are nearing 4% in total, and bank often charge up to 2.5% spreads. The best FX exchange rate is far more possible to obtain with our choices than the alternatives.
Using a Money Transfer App Vs. Desktop View
When it comes to choosing between using the online money transfer through the website or through the app, consider the following. International money transfer apps are the most intuitive but they are prone to errors in comparison to using the computer at home.
Final Word about International Money Transfer Apps
When considering how to find the best app to transfer money abroad, you need to consider what kind of offering does the company behind the app has. Our website, Money Transfer Comparison, has been reviewing money transfer companies for more than 5 years to this point, and on our search we have discovered a wide array of companies who do not support a mobile money transfer app, but also a subset of elite group of companies with fully functional international money transfer app.
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