The best online money transfer websites as rated by MoneyTransferComparison.com.
Selection made from 70+money transfer companies, of which 57 boast an online money transfer platform.
Our requirements are as follows:
- Online transfer to a bank account abroad and get real time tracking doing so.
- 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 2022
- OFX is 100% Safe - Large Well Known, Publicly Traded, Corporation with Offices Worldwide
- Best Overall Onilne Platform - Comfortable, Reliable, No Transfer Fees, Excellent Exchange Rates, Functional App
- Deals with 100+ Currencies and Able to Onboard Customers of All Sizes from Most Countries
- Large Transfers Are Eligible for Dedicated Account Dealer Support
- 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
For corporate clients (not accepting private customers)
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 to a recipient bank account 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”.
What you need to do as a DIY user is make sure you have the recipient’s correct account details and fill the transfer form without any typos. Other than knowing your recepient’s bank account number, you may need to provide details on the nature of the transaction – similarly to what a bank would require of you, as per electronic money regulations in the UK.
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).
How much can I save in money transfer fees – provider vs bank
The biggest question no doubt about choosing an online money transfer provider would be that of costs. Individuals and businesses are trying to save money “wasted” in unnecessary fees. View our online money transfer calculator below:
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 to transfer money abroad online 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.
If we recommended a money transmitter for transferring money online to a receiver’s account abroad, it means we believe it’s a reliable service, but we recommend you will carefully compare the options at hand. At MoneyTransferComparison, we have more than 70 reviews of remittances providers, currency brokers and online money transfer sites, so you can get further information about the transaction condition with each of the leading money transfer services in the UK and globally.
Transferring money online from multiple countries
Many of our visitors are looking specifically to transfer money from UK or to UK, as well as transfer money from USA, from Canada or from South Africa. Majority of online money transfers are from UK to Europe, USA to Europe, Canada to USA and UK to USA. Popular inbound transfer routes into UK include the following: transferring money from USA to UK, from Spain to UK, from France to UK, from Italy to UK, from Portugal to UK or from Germany to UK.
The online money transfer systems on this page cover all of the above in addition to a multitude of countries and currencies.
International Online Money Transfer – Exchange Rates
How Does It Work? How to Send Money Online with a Non-Bank?
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 (to a local bank account in local currency)|
|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.|
Funding your online transfer through a money transmitter is impossible via direct debit like a bank would do for its customers.
There are no associated interest charges or additional fees to funding your transfer, other than approximately 1-2% on debit card funded money transfers.
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.
View our how to transfer money abroad with debit card guide to learn more.
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.
Mobile Wallet – Virtual Bank Account Number Abroad
With several selected online money transfer platforms such as OFX, Moneycorp WorldFirst (business only) or OFX, you can opt for a virtual bank account abroad denominated in one of 10 different destination countries and currencies. One you receive such a virtual bank account abroad, you could receive money in foreign currency through a domestic wire transfer and then move the funds back to your bank account. It’s as easy as transferring the money only in this scenario you will be providing bank account information, rather than filling someone else’s bank account information.
To read more about this functionality go to our guide about the best multicurrency accounts in UK. You can also read about eWallets for international payments and PayPal’s international payments fees using these two links.
Digital Wallet Use On The Up
According to a recent report by WorldPay, digital wallets accounted for 48.6% of all e-commerce transactions in 2021, facilitating over $2.6 trillion in online purchases. Use of digital wallets is projected to rise to 52.5% of transaction value in 2025. Growth is expected to be driven by digital wallets offering superior checkout solutions and flexibility in their underlying payment methods. Bank transfers accounted for a smaller 7.4% share of global e-com transaction value in 2021 but bank transfers are most often used for high-value purchases. For example, when buying a property overseas, this would not be regarded as an ‘e-com transaction’ but the buyer would most likely fund the deal via bank transfer.
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. With each of the companies and service provider below, you can send money online to a bank account abroad. With the majority of these providers who wish to stay competitive, international money transfer fees will include the cost of transfer and currency exchange with no hidden fees of any sort.
- 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