The best online money transfer websites as rated by MoneyTransferComparison.com.
Selection made from 60 money transfer companies, of which 57 boast an online money transfer platform.
Our requirements are as follows:
- Vast and user-friendly online platforms with all functionality embedded.
- International companies that operate on a global scale and deal with most currencies.
- Well-known companies with a proven track record of providing value to customers.
- Great exchange rates even on low amounts.
- Low minimum transfer amounts.
- No flat “wire fees”, ever.
- Rate clearly stated on the online platform.
- Ability to fund your transfer either by a bank transfer or a debit or credit card.
- Ability to fund your transfer by a local domestic wire transfer in your domestic currency.
Best Online Money Transfer Services 2020
- Traded Publicly
- 20bn Turnover per Year
- Ultra Professional
- Tightest Margins
- Fully Functional + Easy Online System
- Available Globally for Transfers of All Sizes
- #1 Rated on MTC
- Industry Leader with £10m in Annual Turnover
- No Transfer Fees, Great Rates
- Fast Loading, Comfortable to Use, Online System
- Fixed FX Spreads of 0.1% – 0.5%. Best Rates on the Market
- Authorized by 6 Global Regulators
- Best Online System to Transfer Large Volumes Abroad
- Exciting Start-up
- Transparent Pricing Before Signing-Up
- Great Exchange Rates (Even for Smaller Transfers)
- 4.6/5 Client Rating for iPhone App
- Most Recognizable Brand in Money Transfers Today
- Boast 1,000+ Employees and $4bn in Monthly Turnover
- Transparent Pricing on the Site
- Full Online Journey Top to Bottom
- Very Quick On-Boarding Process
- Excellent Guidance
- Great Exchange Rates
- Strong Online Money Transfer Platform
- Operating Since 1970 - First Commercial FX Firm
- Corporate FX Specialists
- Great Online Platform
- Many Consumer and Business Awards
- Newly Revamped Website and Online Platform
Not enough selection? Discover the best international money transfer company by overall score, on our homepage.
More details about our recommended online money transfer systems
Learn more about our favourite online websites before you rush to transfer money online with them:
Online Transfers FAQ
Below you can read about the above aspects with greater detail:
Is DIY Online Money Transfer for You?
Using an provider’s website, online system, or mobile app to transfer money abroad online simply requires a bit of self-confidence. That’s all. If you are certain that you can navigate through an online system, and input the correct details when required, there is no reason why the transfer would go wrong. In fact, Transferwise has been hailed and praised all over the Internet for their excellent services, and they are an “online-only platform”.
Below are the pros and cons of online money transfers in comparison to telephone or email transfers with a dedicated currency dealer (Some of the online money transfer services featured on this page like Currencies Direct or OFX do offer that, in addition to an online platform).
Is transferring money overseas online safe?
The major concern most people have with online money transfers through websites, systems, or platforms is the safety element. While some banks are often considered ‘too big to fail’ , you do occasionally hear of smaller financial institutions / providers collapsing and leaving clients puzzled and furious ((ecent example including The Lifetime Sipp Company. It is not an unrealistic concern to have, but with proper scrutinisation of online money transfer providers, as we did on this page, potential clients are minimising the risks.
All the websites which are recommended on moneytransfercomparison.com are authorised as e-Money Providers or Authorised Payment Institutions. What does that mean? All client funds used specifically for a payment they’ve set up are segregated in an account separated from the company’s accounts. If the online provider has collapsed, gone bankrupt, or revoked of its license, clients’ funds are well-reserved within the bank and registered in the name of the client who transferred them. It is obviously not a foolproof solution, but it reduces the risk to a bare minimum. Be sure to also understand what it means for you when your money isn’t directly funding a transfer, such as money you may hold in an online curre
How Does It Work?
View the tutorial video by Transferwise below. One of the reasons we have selected it as our top service for international wire transfers is their simplicity and ease of use. It will take literally 3 minutes of your time to conduct the transfer (and even less time to register).
Funding your transfer: debit or a bank transfer?
One of the most common questions we face in this industry regarding online money transfers is concerns the best way to fund your account. With the companies we have presented (and hundreds more online), you can choose one of two options. Here is a side by side comparison.
|Debit Card||Bank Transfer|
|Instant||In some countries like the UK it should be instant via a faster payment , but others could take more time|
|Very easy||Usually easy to do online from your bank’s website but could be difficult|
|Expensive – companies will incur 1%-2% additional on your transfer||Cheap, usually it costs you nothing to pay for a domestic wire (There are some exceptions like US)|
|Apt for small transfers where a small additional markup doesn’t matter||Apt for the vast majority of transfers and normally more recommended. Be careful to understand the payment limit with your bank if you need to fund larger transfers for a house purchase etc.|
Concluding word of guidance from MoneyTransferComparison’s managing director, Alon Rajic:
If you intend to conduct a large online transfer off of your debit card, against our recommendation, make yourself aware of your card’s limitations. Depending on which card you use and what is your personal situation, your payment may be refused.
Online Money Transfer via Mobile
The newest trend in the world of online money transfer service is the mobile app. Everyone uses their mobiles all the time to perform everyday activities, right? So why not turn this common device into a means by which you can send and receive funds from too.
We have a comprehensive money transfer app directory in which you can read about all your options for a mobile money transfer online to an overseas bank account (We also cover some domestic payment apps like Circle but this is not our main focus). We also maintain a list of the best expat mobile apps.
Comprehensive List of All Online Money Transfer Platforms
After more than 5 years of reviewing the money transfer industry and extensively covering companies, we are proud the present the most comprehensive list of money transfer websites who have a fully-functional online trading system in place.
- Currencies Direct Review
- World First Money Transfer Review
- TorFx Review
- Moneycorp Review
- Currency Solutions Review
- Global Reach Review
- OFX Money Transfer Review
- Currencyfair Review
- Transferwise Review
- XE Money Transfer Review (XE.COM)
- HiFX Money Transfer Review
- SendFX Review
- Afex Money Transfer Review
- FlashFX Review
- Airwallex review
- CurrencyUK Review
- Azimo Money Transfer Review
- Foremost Currency Group Review
- EasyFX Money Transfer Review
- FairFX Money Transfer Review
- com Review
- Frontierpay Money Transfer Review
- Halo Financial Money Transfer Review
- HL Money Transfer Review
- Kantox Money Transfer Review
- Key Currency Money Transfer Review
- Lebara Money Transfer Review
- Moneygram Money Transfer Review
- Natwest Money Transfer Review
- OrbitRemit Review
- Payoneer Money Transfer Review
- PaySend Money Transfer Review
- Privalgo Money Transfer Review
- Revolut Money Transfer App Review
- Ria Money Transfer Review
- Smart Currency Exchange Review
- TranserGo Money Transfer Review
- Transfermate Money Transfer Review
- Travelex Money Transfer Review
- Veem Money Transfer Review
- Virgin International Money Transfer Review
- Voltrex FX (VFX) Money Transfer Review
- Vorto Trading Money Transfer Review
- Western Union (WU) Money Transfer Review
- Xoom Money Transfer Review