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
Best Online Money Transfer: Global Availability- Traded Publicly
- 20bn Turnover per Year
- Ultra Professional
Best for Large International Bank to Bank Transfers Online in UK
- #1 Rated on MTC
- Industry Leader with £10m in Annual Turnover
- No Transfer Fees, Great Rates
Great Rates for Transfers of All Sizes
- Exciting Start-up
- Transparent Pricing Before Signing-Up
- Great Exchange Rates (Even for Smaller Transfers)
The Hottest Money Transfer Startup Today
- Most Recognizable Brand in Money Transfers Today
- Boast 1,000+ Employees and $4bn in Monthly Turnover
- Transparent Pricing on the Site
Excellent Guidance for Clients
- Very Quick On-Boarding Process
- Excellent Guidance
- Great Exchange Rates
For Businesses and Large Transfers
- Operating Since 1970 - First Commercial FX Firm
- Corporate FX Specialists
- Great Online Platform
For corporate clients (not accepting invidiauls)
Best FX Rates for Online Transfers
- 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
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
Are online money transfer providers safe?
How can I fund my online money transfer?
Do all money transfer providers offer an online platform?
Do all online money transfer providers have a mobile app?
Would you recommend all readers to always DIY money transfer online?
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).
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.
International Online Money Transfer – Exchange Rates
Bottom Line
We recommend that transfers of more than £50,000 or its equivalent be done over the phone (or a face-to-face meeting fo for corporate FX). Expert guidance is not something we recommend missing out on, and with larger amounts, you can actually negotiate the margins with your currency dealer. If you want to view your options on that, view our recommended international money transfer companies.
For transfers below that mark you are bound to receive much better rates with our top choices (Transferwise and Currencyfair are the cheapest of the bunch). For these lower amounts you don’t really need any extra guidance and there is absolutely no reason to waste your time discussing strategies with anyone.
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.
Further reading:
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.
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
I have had a very good experience with transferwiseand continue using them to this day
Also familiar with other companies on this list and they are all fair in their rates and provide useful service but from what I know transferwise is cheaper
It was cheap and easy thank you
Which companies have “no flat wire fees” as advertised?
Which Money Transfer Co offers Business Accounts for companies registered in Costa Rica and Panama?
Do all currency brokers have an online system? I know XE has one because I’ve used them before.
Hi,
Do you know VertoFX money transfer?
I want to transfer funds to the US and wondered if it is regulated there.
Do you have a review on MoneyTransferComparison.com? I couldn’t find it…
I am using both Transferwise and Revolut to transfer money abroad on a monthly basis, and I must say I had much better experience with Transferwise – very intuitive online platform. I read both reviews on the site and agree with what you suggest.
Thanks!
PinaRemit.com< is e-currency and crypto-currency exchanger. with transferwise
we sell /buy and exchange Perfect Money to Indian rupee(INR), Payeer,SEPA/EU Bank Transfer.
We providing Crypto-currency to Bank Transfer lowest fee on the market.
Our Banking services SEPA/EU bank transfer(EUR), Indian rupee(INR), Malaysian ringgit(MYR),
Indonesian rupiah(IDR), Thai baht(THB), Vietnamese dong(VND), Sri Lankan rupee (LKR)
I see people recommending Wise and yes, it is a good solution for small transfers. But once you need to make transfers over 5000 euros, Currencies Direct will assign you a person to help you out.. I am using Currencies Direct for more than 2 years and I would never go to a competitor.
How long does it take to transfer money abroad? I’ve read a bunch of different time frames on different sites. So, in my case (from Belgium to France), can it be sent on the same day? Or at least the next day?
I am a Brit based in Sweden and I’ve tried to use several of these companies. I felt OFX is a little outdated, and that Currencies Direct immediately called me on my phone when I signed up which I did not like, Wise was really good for my needs. I actually only use my credit card to make small transfers and it’s not as cheap as “fund your account through bank transfer” option but its easy and better than what I used before.
Can you receive money with money transfer platforms? For example Euro payments to UK bank account?
I used to use worldfirst for online money transfer to international bank accounts but they have shut down my account and that was a little traumatic. what promise do I have that the next one I sign up with won’t shut down?