The Top International Money Transfer Services to Send Money Abroad

Sending money abroad requires a reliable and cost-effective international money transfer service. Here are the top international money transfer services for October 2023 to help you send money overseas securely and conveniently:

1. TransferWise (Wise)

• Exchange Rates: Real mid-market exchange rates with transparent fees.
• Transfer Speed: Typically 1-2 business days.
• Fees: Low and transparent fees.
• Key Features: Multi-currency borderless accounts, debit card, and mobile app.

2. PayPal

• Exchange Rates: Competitive exchange rates.
• Transfer Speed: Instant or 1-3 business days, depending on the method.
• Fees: Fees vary based on the transaction method and destination.
• Key Features: Widely accepted, especially for online transactions.

3. OFX (formerly OzForex)

• Exchange Rates: Competitive exchange rates with no margins.
• Transfer Speed: Typically 1-2 business days.
• Fees: Low fees, especially for larger amounts.
• Key Features: Forward contracts and limit orders for rate optimization.

4. XE Money Transfer

• Exchange Rates: Competitive exchange rates.
• Transfer Speed: Typically 1-4 business days.
• Fees: No transfer fees.
• Key Features: Comprehensive currency tools and rate alerts.

5. Revolut

• Exchange Rates: Interbank exchange rates during weekdays.
• Transfer Speed: Instant for Revolut users.
• Fees: Low fees and no hidden charges.
• Key Features: Mobile app with budgeting and spending analytics.

6. Western Union

• Exchange Rates: Competitive exchange rates.
• Transfer Speed: Within minutes or 1-3 business days.
• Fees: Fees vary based on the transfer method, amount, and destination.
• Key Features: A vast global network of agent locations.

7. WorldRemit

• Exchange Rates: Competitive exchange rates.
• Transfer Speed: Typically within minutes.
• Fees: Low fees, with transparent pricing.
• Key Features: Extensive reach in developing countries.

8. Remitly

• Exchange Rates: Competitive exchange rates.
• Transfer Speed: Express (within minutes) or Economy (1-5 business days) options.
• Fees: Transparent fees, which vary based on the transfer speed and destination.
• Key Features: Focus on remittances to developing countries.

9. Wise (formerly known as TransferWise for Business)

• Exchange Rates: Real mid-market exchange rates.
• Transfer Speed: Typically 1-2 business days.
• Fees: Transparent and low fees for businesses.
• Key Features: Multi-currency business accounts.

10. MoneyGram

• Exchange Rates: Competitive exchange rates.
• Transfer Speed: Within minutes or 1-3 business days.
• Fees: Fees vary based on the transfer method, amount, and destination.
• Key Features: Extensive global agent network.

Before choosing an international money transfer service, consider factors such as exchange rates, transfer fees, transfer speed, and the specific needs of your transaction. Each service offers its unique advantages, so select the one that aligns best with your requirements for sending money abroad.