How to Send Money Abroad
Compare the best ways to send money abroad, with named company choices for bank deposits, large transfers, cash collection and self-service payments.
For most bank-to-bank transfers, start with Currencies Direct, Xe or Wise. Add TorFX or OFX when the payment is large. Use Remitly when cash or mobile payout is the real requirement.
Compare the best ways to send money abroad, with named company choices for bank deposits, large transfers, cash collection and self-service payments.
Best-rated companies for sending money abroad
There is no honest single winner for every country and transfer size. These are the strongest starting points from the current MTC table and review library.
Money Transfer Comparison has reviewed international payment companies since 2014. The current rankings favour established, regulated providers with bank-beating potential, strong customer records and a service model that matches real transfer needs. The ratings below are editorial scores, not live price guarantees.
Currencies Direct
97.8% MTC editorial scoreA service-led broker used for bank-to-bank transfers, property, emigration and regular international payments.
Xe
94.5% MTC editorial scoreA globally recognised currency brand with online transfers and dealer support for larger annual volumes.
Wise
86.6% MTC editorial scoreA digital service that uses the mid-market rate and displays a separate fee before the customer pays.
TorFX
93.4% MTC editorial scoreA broker-led service with account managers, an online platform, rate tools and support for property payments.
OFX
90.4% MTC editorial scoreA long-established global provider combining a digital platform with telephone currency support.
Remitly
Corridor-specific serviceA remittance-focused service offering payout choices that can include bank deposit, cash collection and mobile money.
Sending a few hundred or a few thousand pounds to a bank account? Price Wise against Xe. Sending property money or a five or six-figure amount? Compare Currencies Direct, TorFX, Xe and OFX. Need cash pickup or mobile money? Check Remitly and the dedicated remittance comparison.
Open the full top 10 comparison →Choose the type of service before the company
The best starting point is the transfer itself, not a familiar logo.
Banks are convenient because the account already exists. Digital money-transfer services tend to suit self-service bank transfers and smaller payments. Currency brokers add human support and future-payment tools for property, emigration and business transfers. Remittance networks focus on family support, cash collection and mobile wallets.
| Need | Natural starting point | What to compare |
|---|---|---|
| Small bank deposit | Digital transfer service | Final payout, speed and funding method |
| Large property or emigration payment | Currency broker plus bank comparison | Quote, support, documents and scheduling |
| Cash pickup or mobile money | Remittance network | Corridor availability, payout point and total cost |
| Regular business payments | Business FX or multi-currency platform | Approvals, batch tools, local accounts and pricing |
| Existing foreign-currency balance | Same-currency bank or account transfer | Wire fee, receiving fee and conversion point |
Do not assume every provider accepts customers in the sending country. The legal entity, product and available currencies can change by residence.
Named choices by transfer type
Start with transparent self-service pricing and an online transfer route.
Compare a named dealer, documentation support and a live negotiated quote.
Check the payout network, collection point, delivery promise and full recipient cost.
Currencies Direct is the site's highest-rated overall provider at the time of this update. Xe ranks strongly for its combination of reach, technology and service. Wise is lower in the overall editorial table because it does not provide the same traditional dealer-led experience, but its visible fee and mid-market-rate model make it a useful benchmark for self-service transfers.
Provider availability changes with residence and destination. A British customer sending GBP to EUR sees a different market from an American customer funding USD for a cash payout in the Philippines. Treat the names above as a shortlist to test, not a permanent declaration that one company is cheapest.
Recipient information you may need
Correct beneficiary details prevent more problems than a fast transfer button can solve.
Most bank-account transfers need the recipient's legal name, address, account number or IBAN, bank name and a bank identifier. The format depends on the destination. The US often uses routing and account numbers, Canada uses institution and transit details, Australia uses BSB numbers, and many European routes use an IBAN.
- Read the SWIFT, IBAN and routing-code guide for format explanations.
- Ask the recipient to copy details from an official bank document or secure portal.
- Check the account name and payment purpose before confirming.
- For a changed invoice or solicitor account, verify the change by telephone using a number you already trust.
- Use a payment reference that the recipient can reconcile.
An invalid check digit may reject an IBAN immediately. A valid but wrong account can be harder to recover. Slow down before authorising the payment.
What the provider may ask about you
The recipient details are only half of the file. Regulated firms may need proof of identity, address, source of funds and transfer purpose. A normal small payment can clear with basic verification. A property deposit, inheritance, business invoice or unusual transfer can trigger a fuller review.
Complete the account before the deadline. If a provider asks for a property contract or bank statement on the payment morning, the delay is not a transfer-speed issue. It is incomplete onboarding. Our KYC document guide shows the evidence commonly requested.
Compare the real cost
Visible fees are easy to advertise. Exchange-rate margins can cost more.
Ask each provider how much the recipient is expected to receive after its fee and currency conversion. Check whether an intermediary or beneficiary bank may deduct more. Take quotes close together because the market can move while you compare.
For £1,000, a £15 fixed fee is significant. For £100,000, the exchange-rate difference normally matters more. The bank-fee research shows how to calculate both.
Compare established transfer companies
The live WordPress table stays centrally managed, so provider details and commercial links can be updated once across the site.
Currencies Direct: Best Overall for International Money Transfers - 96% Positive Feedback from Customers, Since 1996
- Service Oriented - Specialising in Large Transfers - Friendly Dealers
- Very Competitive Rates, No Wire Fees
Xe: The Biggest Name in Currency Since 1993 - Fast and Effective Sign Up Process
- Superb Functionality All Around - Intuitive Online Platform, Smooth App, and Personalised Touch with Dedicated Dealers Above $50,000 Volume
- Global Company with Strong Presence in the UK
TorFX: Strong Guidance and Staff - 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
moneycorp: Oldest and Most Reputable Foreign Exchange Service - Providing FX Services since 1979
- Very Recognisable Brand with Excellent Reputation - £36.9bn in Transfers Annually
- Business Specialists
Key Currency: Well Known Currency Broker with Local Presence UK/Spain - Fastest Growing UK Currency Transfer Provider
- Strong Onboard Team, Get an Immediate Callback
- Recipient of Multiple Industry Awards
OFX: The Publicly-Traded Money Transfer Company from Down Under - Traded Publicly in Australia
- £20bn Turnover per Year
- Ultra Professional
FC Global Payments: New, Hungry, Driven - Excellent Client Support
- Industry Experience
- Young and Eager Company with Competitive Rates
Wise: Low-Cost International Transfer Wizards - Transparent fees and exchange rates
- Mid-market exchange rates with low fees
- Easy-to-use online platform and app
Worked example: why the fee line is not enough
This is why the best way to send money abroad is found by comparing the recipient amount. Ask the provider to state the target-currency payout, then check whether correspondent or receiving-bank deductions remain possible. The quoted transfer fee is only one line of the calculation.
The transfer process, step by step
Registering early creates time for verification, quote comparison and beneficiary checks.
Define
Set the amount, currencies, destination, recipient and deadline.
Shortlist
Choose services that accept the sender and support the required payout.
Verify
Complete identity and source-of-funds checks before the payment date.
Quote
Compare the recipient amount, timing and possible deductions.
Confirm
Fund the transfer, save the receipt and check arrival.
Bank-transfer funding is common and often cheaper than card funding. A card can settle quickly but may carry provider charges, issuer limits or fraud blocks. Never fund a financial service by sending money to an employee's personal account.
How long international transfers take
Speed depends on the route and payment stage, not only the brand.
Local collection and payout accounts can move some transfers quickly. SWIFT payments can take one to several working days. Cut-off times, weekends, public holidays, intermediary banks and compliance review all affect the result.
A provider's “instant” description may refer to a quote, wallet-to-wallet movement or card funding rather than final credit to an overseas bank. Read what the speed claim measures.
Verification, bank limits and funding time can delay the start.
A spot trade can book quickly, but the provider still needs cleared funds.
Local rails may be fast; SWIFT and correspondent banks add steps.
The receiving bank can hold, convert or return a payment.
| Transfer route | Typical working assumption | What commonly delays it |
|---|---|---|
| Local bank payout through a digital provider | Minutes to one working day on supported routes | Funding method, first-transfer checks and recipient bank |
| Broker-led bank-to-bank transfer | Same day to two working days after cleared funds | Quote cut-off, documents and destination banking hours |
| SWIFT bank transfer | One to five working days | Correspondent banks, cut-off times and manual review |
| Cash collection | Minutes to one day after approval | Agent opening hours, recipient ID and cash availability |
| Future or forward-funded payment | On the agreed settlement date | Deposit, contract terms and late customer funding |
Do not pay extra for speed until the provider confirms what its delivery statement measures. Some services describe the funding step as instant even when overseas payout takes longer.
Safety checks before funding
Verify the legal entity and the recipient, not just the website design.
Match the provider's legal name in its terms to the relevant regulator record. UK payment and e-money firms generally protect relevant customer funds through safeguarding, while eligible bank deposits can fall under FSCS protection. These structures are not interchangeable.
Use multi-factor authentication and protect one-time codes. Stop if someone pressures you to send quickly, bypass a warning or change beneficiary details without independent confirmation.
UK reimbursement rules can protect some Faster Payments and CHAPS scam victims up to set limits, but coverage depends on the payment and circumstances. Read the bank-transfer safety guide before paying an unfamiliar person.
Use the corridor guide for local detail
A general guide explains the process. A corridor page should carry the current bank data, account formats and provider eligibility.
UK to USA
GBP/USD providers, US bank details, limits and timing.
Open guide →UK to Australia
GBP/AUD pricing, BSB details and large-transfer options.
Open guide →UK to Europe
SEPA, GBP/EUR conversion and country-specific receiving fees.
Open guide →USA to UK
USD/GBP options, US funding and UK receiving details.
Open guide →UAE to UK
AED/GBP providers, local eligibility and source-of-funds checks.
Open guide →View the corridor library
Open every linked country-to-country guide from one place.
Open guide →Banks, PayPal, cards and cash: when do they make sense?
Familiar payment methods can still be useful, but convenience can hide a higher international cost.
Sending through your bank
A bank is easy to use because the account already exists. It may also be the cleanest route for a same-currency transfer between your own accounts. For a converted international payment, compare the bank's customer exchange rate with a specialist quote. The international bank transfer fee study explains the fixed charge, exchange-rate margin and possible correspondent deductions.
PayPal and card payments
PayPal can be convenient when both parties already use it, but international and currency-conversion pricing can make a standard bank deposit expensive. Card funding can be quick for a small payment, although provider charges, issuer restrictions and cash-like transaction treatment may apply. Price bank-transfer funding first.
Physical cash shops
A shop can solve a genuine cash-in, cash-out requirement. It is rarely the first choice when both parties have usable bank accounts. Compare the online price from the same network because agent pricing and payout options can differ.
Cryptocurrency
Crypto can transfer value, but purchase fees, spread, volatility, wallet mistakes and the need to convert back into local currency make it a poor default answer for someone simply trying to send money abroad safely.
For a normal international bank deposit, start with a regulated transfer specialist. Keep the bank quote as a reference. Use cash and mobile networks only when the recipient needs that form of payout.
Built from first-hand industry coverage and current primary sources
Money Transfer Comparison has reviewed international payment companies since 2014. Current legal, regulatory and product claims are linked to the organisations responsible for them.
Alon Rajic
Founder of Money Transfer Comparison, covering providers, pricing and customer use cases since 2014.
Read Alon's profile →
Russell Gous
Former Barclays Corporate Banking professional and senior relationship manager at WorldFirst.
Read Russell's profile →How to Send Money Abroad: common questions
Which company is rated best overall?
Currencies Direct is currently first in the MTC top 10 with a 97.8% editorial score. It still needs to be compared for the customer's exact route and amount.
What is the best way to send money abroad?
Match the service to the transfer. Digital providers suit many smaller bank deposits, brokers belong in larger-transfer comparisons, and remittance networks support cash or mobile payouts.
What details do I need?
Usually the recipient's legal name, account number or IBAN, bank identifier, address and payment reference. Requirements vary by country.
How do I find the cheapest provider?
Compare the final recipient amount from suitable providers at roughly the same time.
Can I send a large amount online?
Often yes, but provider and bank limits, verification and source-of-funds checks can apply.
How long does it take?
Local routes can be quick, while SWIFT transfers often take one to several working days. Checks and bank holidays can add time.
Compare the companies that fit your actual transfer
Use one self-service quote and one service-led quote for bank deposits. Add a corridor remittance company when the recipient needs cash or mobile money.