Best International Money Transfers from USA

Welcome Money Transfer Comparison: a site wholly dedicated to reviews and comparison of international money transfer services and currency brokers. This our USA section. We help customers understand how much they are actually paying, and help them figure out which is the best way to transfer money internationally for their needs. ✌️


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📖 International Transfer Costs Are too High

When sending money internationally, there is one aspect that makes up all the difference when it comes to fees.

People oftentimes think the only cost of sending money from the U.S abroad is the fixed fees…

But in fact, the exchange rate spreads – or in other words the cost of exchanging – is a lot higher than the fixed fees.

Especially when transferring large sums.

A 3% spread on the EURUSD equals a customer paying 3% of the transaction in fees.

And 3% spreads are common amongst US banks.

Luckily, there’s a viable alternative out there for money transfers.

3rd party providers collectively known as “international money transfer services”.

They each differ in their value proposition, and that’s exactly what I’ll try to explain on this guide.

How Money Transfer Services Work?

It’s crucial to understand how money transfer work so you won’t be intimidated of the process.

Here’s the lowdown:

  1. Find a company you want to try.
  2. Leave your email and phone and hit “Get a Quote”.
  3. Get access to rates online / over the phone.
  4. Supply more details about yourself prior to trading.
  5. Book the transfer, online or through the phone.
  6. Know EXACTLY how much the recipient will get.
  7. Fund the transfer through a domestic bank transfer.
  8. Kick back and relax while your money is being sent.

Is It Safe? 🏦

One of the most important considerations when it comes to transferring money internationally is the safety.

We all know that bank transfers are safe and that is probably one of the main reasons people stick to banks knowing they get sub-par service alongside higher costs, compared to Fintechs.

It can be said that money transfer companies are safe, but the level of safety obviously depends on the provider you have opted to use.

The first part to verify is that the service is appropriately regulated.

Regulation in the U.S is on a state-by-state basis.

Firstly, if you would like to operate a money transfer service in the USA, you have to be approved federally by FinCEN (and supervised by them).

Then, for each state, the provider must acquire a Money Transmitter status in the relevant state through the relevant regulatory agency.

The second part is to choose a provider with long trading history, spotless reputation, many online reviews, who is trading like volumes (or even publicly traded like OFX, Wise or Western Union).

It’s important to note that funds held with a specialist money transfer company are not directly covered by the Federal Deposit Insurance Corporation (FDIC).

The FDIC, however, does still recommend money transfer providers to send money overseas.

The best way to understand all those things without having to do your own research is use our elaborated reviews, as we have covered more than 90 providers globally.

Conducting a Money Transfer Comparison

Comparing the various options to send money abroad is a crucial part of a good process.

Some providers aren’t good at all.

Some providers are better than banks but aren’t the cheapest way to transfer money.

Other providers may have great rates but their service is inefficient.

Some providers are genuinely wholesome but aren’t apt to your situation.

It’s important you collect the following data in order to get a decision

Regulation: making sure the provider is appropriately regulated

Background: making sure this provider has been around for long

Online reviews: what others who have used the service have to share

Rates: some digital providers show rates in a clear way, with others (brokers) you may have to sign up and receive a quote.

Function: does the service allow more things than outbound international transfers? what about receiving money? holding money in a multi-currency account or hedging it?

Best International Money Transfer: Top 10

  • Top-rated money transfer companies on MoneyTransferComparison for July 2024
  • When we compare international money transfer services, our focus is on large international transfers.
UK EU USA Currencies Direct: Best Rated Globally, Strong USA Presence
Local USA Offices:
4705 S Apopka Vineland Rd Suite 114, Orlando, FL 32819, USA
97.8% Editorial rating
7,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent
Why Them?
  • 96% Positive Feedback from Customers, Since 1996
  • Service Oriented - Specialising in Large Transfers - Friendly Dealers
  • Very Competitive Rates, No Wire Fees
+Read more
Currencies Direct
Currencies Direct: Best Rated Globally, Strong USA Presence
Editorial rating
Australia UK EU USA New Zealand OFX: Best for Transfers to Canada, Asia and Australia
Local USA Offices:
T49 Stevenson Street, 13th Floor, San Francisco, CA 94105
90.4% Editorial rating
1,500 Client Reviews
Minimum transfer:
Why Them?
  • Traded publicly, very well known name in the currency business
  • Great online platform and mobile app - easy to use, comprehend an sign up with
  • Good rates even for small transfers, and no transfer fees
+Read more
OFX: Best for Transfers to Canada, Asia and Australia
Editorial rating
UK EU USA UAE Moneycorp: Best for Businesses and Sophisticated Transfers
Local USA Offices:
4500 Park Granada UNIT 239, Calabasas, CA 91302
93.2% Editorial rating
7,000 Client Reviews
Minimum transfer:
Why Them?
  • Personal and close service, perfect for large international money transfers and businesses
  • Competitive exchange rates and no transfer fees
  • Many industry and business awards - operating since 1979
+Read more
Moneycorp: Best for Businesses and Sophisticated Transfers
Editorial rating
USA Remitly: Best for transfers to Mexico
Local USA Offices:
Seattle, WA, US (HQ) 1111 3rd Ave #2100.
78.0% Editorial rating
35,000 Client Reviews
Minimum transfer:
Why Them?
  • Transfer from $1
  • Remittances-Oriented
  • Great Online Platform
+Read more
Remitly: Best for transfers to Mexico
Editorial rating
USA WorldRemit: Best for transfers to Africa and India
Local USA Offices:
WorldRemit Corp, 600 17th Street, Suite 200S Denver, CO 80202
77.0% Editorial rating
50,000 Client Reviews
Minimum transfer:
Why Them?
  • Transfer from $1
  • Send to 130 Countries
  • Remittances-Oriented
+Read more
WorldRemit: Best for transfers to Africa and India
Editorial rating

Can you send money from the U.S with any foreign exchange company?

All money transfer companies operating in the U.S will enable you to send money to a bank account abroad.

But, not all foreign exchange companies are necessarily money transfer companies.

Some foreign exchange companies focus exclusively on selling travel money (physical notes).

Others, deal only with businesses.

Lastly, not all companies support all routes and currencies.

You can view our more specific guides below with transfers inbound or outbound to USA:

International Money Transfers in USA vs UK: Less Selection

Despite the US population being over five times larger than the UK, there has traditionally been a much greater demand and selection available in the UK, the central hub of money transfers.

In fact, the UK is where the currency transfer industry was first formed and the first currency brokers came to be.

Moneycorp, established in 1979, was the first company to offer businesses cheaper foreign exchange and cheaper international money transfers.

It was followed by companies like Currencies Direct and WorldFirst, which focused on business customers and individuals but their services were still confined to Brits.

These companies have naturally expanded to allow EU citizens, mostly British expats, to use their services, and then expanded to territories such as Australia where they had relatively small regulatory hurdles in on-boarding customers.

The U.S was always a sort of black hole for the international money transfer industry.

Customers aren’t familiar with the product, are naturally more conservative and there are less fintech aficionados when compared to the UK.

It’s not just consumer understanding though, regulation is a key factor too.

U.S regulation forces providers to be regulated in each and every state they want to onboard customers from. This means the costs of being a U.S regulated money transfer service are high and the return is lower.

Hence, there is less selection when it comes to non-bank international money transfer companies for U.S customers. If we look at some of the UK’s most popular FX transfer specialists, we can see their penetration in the US market is low.

  • WorldFirst was a dominant money transfer service, but the company stopped serving US customers when it was bought out by AliPay (and then stopped serving private customers worldwide).
  • Currencies Direct has only recently (2021) started accepting customers from all US states. Prior to that, many American customers could not register with this brilliant money transfer service.
  • Moneycorp also served certain US states in the past but has been accepting US customers from all states for a while now
  • OFX has served all US customers for a long time through their subsidiary company USForex which recently rebranded to OFX.
  • XE Money Transfers is one of a few North American money transfer companies in the world and has served American clients for a long time now (it combined forces with UK specialist HiFX to operate under the XE brand).
  • Wise is a hot fintech company and launched in the US several years  after its inception (as other money transfer providers, it focused on UK and European customers first).
  • Global Reach Group still can’t onboard American clients.
  • Halo Financial still can’t onboard American clients.
  • Currency Solutions still can’t onboard American clients.

A complete list of US money transfer services is available below (including remittance providers):

We also cover money transfers outside the USA, as follows:

USA Banks are Expensive

The USA, in spite of its vast financial infrastructure and the fact its banks are some of the wealthiest and most powerful banks globally, is well behind many other countries when it comes to the costs of international payments.

Look at the indicative table below, based on our international bank transfer fees research:

BankMin MarkupInternational Wire Fee

Wells Fargo






Capital One


If you were transferring $10,000 from USA to EU, that would be worth €10,132 based on an exchange rate gathered November 2, 2022.

When you deduct the $30 payment fee and 3.6% spread applied by Wells Fargo, you’re left with €9,738.

Roughly 400 euros were lost in this international bank transfer without any reason.

Which Bank is Best for International Transfers From US?

Based on offering the lowest international transfer fees and the best exchange rates, Bank of America is the best US bank for international transfers.

They charge no fee when a currency conversion takes place and apply an FX markup of 2.6% – 2.8%, according to independent analysis on international bank transfer fees.

However, the best bank for international transfers is still considerably more expensive than dedicated currency companies (more on this below).

And unlike currency companies, you do not get access to a currency expert (just generic bank customer service staff) and you do not get any extras.

Live Example: US Bank vs Wise for International Transfers

The below screenshots taken at the same time demonstrate a difference of $75 in spreads plus $35 in wire fees so a total of $110 difference over a transaction of only 1,270 Euro from Dollar. More than 5% more if you pay via your bank as opposed to an international money transfer service.

Which countries and currencies are supported?

Large an respected providers have all the available routes.

These are the most popular country guides on our website inbound or outbound to USA:



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