Warwick Woodley
Best International Money Transfer Companies 2026: Expert Comparison
Comprehensive comparison of the top 10 international money transfer companies including Currencies Direct, Wise, XE, OFX, and more. Expert analysis of fees, exchange rates, features, and which service is best for your needs.
Money TransferCurrency ExchangeInternational MovingFinanceExpatRemittance
When moving internationally, transferring money across borders efficiently can save you thousands. Traditional banks typically charge 3-5% in hidden exchange rate markups plus £20-40 in transfer fees. Specialist currency transfer companies offer significantly better rates, often saving 85-90% compared to banks.
Whether you're funding a relocation to New Zealand, purchasing property abroad, sending regular payments to family, or managing a business with international suppliers, choosing the right transfer service is crucial. We've analyzed fees, exchange rates, transfer speeds, and customer reviews to bring you this comprehensive guide.
Key Insight: Size Matters
The best provider depends heavily on your transfer amount. Wise excels for transfers under $5,000 with transparent fees, while Currencies Direct offers better rates for larger amounts over $5,000 where their wholesale rates shine. Always compare based on your specific transfer size.
Try the Currency Converter
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- Live exchange rates
- No hidden fees shown
- 48+ currencies supported
Quick Comparison: Top Money Transfer Companies
| Provider | Best For | Rating | Transfer Fee | FX Margin | Speed |
|---|---|---|---|---|---|
1  | Best Overall & Large Transfers | 4.9 | None | 0.2% - 1.5% | 1-4 business days |
2  | Best Mobile App | 4.5 | $3 under $500, free above | 0.5% - 1.5% | 1-4 business days |
3  | Best for Small Transfers | 4.6 | From 0.57% | 0% (mid-market rate) | Instant - 2 days |
4  | Best Multi-Currency Account | 4.7 | None | 0.5% - 2% | 1-3 business days |
5  | Best for Expats | 4.9 | None | 0.3% - 1.5% | 1-4 business days |
6  | Best for Australia Transfers | 4.9 | None | ~0.01% | 1-2 business days |
7  | Best for Businesses | 4.5 | None (0.2% FX) | 0.2% | Same day - 2 days |
8  | Best for Remittances | 4.4 | $0 - $4.99 | 1% - 2% | Minutes - 5 days |
9  | Best for UK-Europe Property | 4.9 | None | Varies by amount | 1-4 business days |
10  | Best for Forward Contracts | 4.7 | None | 0.3% - 1% | 1-3 business days |
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Top 10 International Money Transfer Companies Reviewed
Detailed reviews of each provider including fees, features, pros and cons to help you make an informed decision.
1
4.9(12,000 reviews)
Visit WebsiteBest Overall & Large Transfers
Currencies Direct has been a market leader since 1996, processing over £10 billion annually. They specialize in large transfers and offer wholesale exchange rates that improve as transfer amounts increase. With no transfer fees and dedicated account managers, they're the top choice for property purchases, emigration funds, and regular international payments.
Established
1996
Currencies
48+
Transfer Fee
None
Speed
1-4 business days
Best for:
Transfers over $5,000Property purchasesRegular paymentsExpat transfers
Key Features:
No transfer fees on any amount
Dedicated account manager
Forward contracts up to 2 years
Rate alerts and limit orders
Multi-currency accounts
24/7 customer support
Pros
- •Excellent exchange rates for large transfers
- •No transfer fees whatsoever
- •Personal account manager for all clients
- •Forward contracts to lock in rates
- •Established since 1996 with £10bn+ annual volume
Cons
- •Not ideal for transfers under £1,000
- •No cash transactions
- •Debit card limited to 10 currencies
London, UKFCA, FinCEN, SARB, Bank of SpainMin: £100
2
4.5(45,000 reviews)
Visit WebsiteBest Mobile App
XE is synonymous with currency exchange rates globally. Their mobile app is the gold standard, offering real-time rate tracking, instant alerts, and seamless transfers to 190+ countries. With support for 130+ currencies and free transfers over $500, XE is perfect for frequent travelers and those who prefer managing money on the go.
Established
1993
Currencies
130+
Transfer Fee
$3 under $500, free above
Speed
1-4 business days
Best for:
Mobile-first usersSmall to medium transfersRate tracking190+ countries
Key Features:
Industry-leading mobile app
Real-time rate alerts
Send to 190+ countries
Live mid-market rates
Bank-level security
Currency charts and analysis
Pros
- •Best-in-class mobile app experience
- •Supports 130+ currencies
- •Free transfers over $500
- •Trusted brand since 1993
- •Real-time rate tracking
Cons
- •$3 fee on transfers under $500
- •No forward contracts for personal users
- •Customer support can be slow
Newmarket, CanadaFCA, FinCEN, ASIC, MASMin: $1
3
4.6(200,000 reviews)
Visit WebsiteBest for Small Transfers
Wise (formerly TransferWise) disrupted the industry with radical transparency. They use the real mid-market rate with a clear percentage fee (from 0.57%), making them unbeatable for smaller transfers under $5,000. Their multi-currency account with local bank details in 10+ currencies is perfect for freelancers and digital nomads receiving international payments.
Established
2011
Currencies
40+
Transfer Fee
From 0.57%
Speed
Instant - 2 days
Best for:
Transfers under $5,000Transparent pricingMulti-currency accountFreelancers
Key Features:
True mid-market exchange rate
Transparent fee calculator
Multi-currency account with debit card
Local account details in 10+ currencies
Instant transfers on many routes
Business and personal accounts
Pros
- •Uses real mid-market exchange rate
- •Completely transparent fees
- •Multi-currency debit card included
- •Fastest transfers in the industry
- •Local bank details for receiving money
Cons
- •Fees add up on larger transfers
- •No dedicated account manager
- •Limited hedging options
London, UKFCA, FinCEN, ASIC, MAS, NYDFSMin: $1
4
4.7(8,000 reviews)
Visit WebsiteBest Multi-Currency Account
OFX excels with their multi-currency account, allowing you to hold, pay, and receive in 30+ currencies with local account details for USD, EUR, GBP, and CAD. This eliminates costly conversion fees when receiving international payments. Ideal for businesses and individuals managing money across multiple countries.
Established
1998
Currencies
50+
Transfer Fee
None
Speed
1-3 business days
Best for:
Multi-currency managementBusinessesRegular paymentsAustralian users
Key Features:
Hold 30+ currencies
Local receiving details for USD, EUR, GBP, CAD
No monthly or annual fees
Forward contracts up to 12 months
24/7 phone support
Dedicated dealers
Pros
- •Excellent multi-currency account
- •No transfer fees
- •Local account details for major currencies
- •24/7 global support
- •Strong business features
Cons
- •$1,000 minimum transfer
- •Exchange rate margins vary
- •No debit card offering
Sydney, AustraliaASIC, FCA, FinCEN, MASMin: $1,000
5
4.9(10,000 reviews)
Visit WebsiteBest for Expats
TorFX is renowned for exceptional personal service, assigning every client a dedicated account manager regardless of transfer size. Based in Cornwall, they specialize in expat transfers, property purchases, and pension payments. Their human-first approach makes them ideal for those who prefer speaking to a real person.
Established
2004
Currencies
40+
Transfer Fee
None
Speed
1-4 business days
Best for:
ExpatsProperty purchasesLarge transfersPersonal service
Key Features:
Dedicated account manager
Bank-beating exchange rates
Forward contracts
Rate alerts
Regular payment plans
No minimum transfer
Pros
- •Outstanding customer service
- •Personal account manager from day one
- •Competitive rates for large transfers
- •Award-winning service
- •No transfer fees
Cons
- •No mobile app
- •Limited to UK and EU clients
- •Basic online platform
Cornwall, UKFCAMin: £100
6
4.9(300 reviews)
Visit WebsiteBest for Australia Transfers
Send Payments is an Australian specialist offering remarkably tight exchange rate margins of around 0.01% - far below the 0.4-1.9% charged by competitors. Built on Currency Cloud infrastructure, they're perfect for large transfers to/from Australia, property settlements, and anyone prioritizing the absolute best exchange rate.
Established
2014
Currencies
31+
Transfer Fee
None
Speed
1-2 business days
Best for:
Australia to/from transfersLarge transfersProperty settlementsPersonal service
Key Features:
Incredibly tight margins (~0.01%)
Personal account manager
PayID support for instant AUD
Hedging tools
Real-time dashboard
Up to AU$25 million transfers
Pros
- •Industry-leading exchange rate margins
- •No transfer fees
- •Dedicated account manager
- •Handles transfers up to AU$25 million
- •Australian-hours support
Cons
- •No mobile app
- •AU$250 minimum transfer
- •Primarily Australia-focused
Sydney, AustraliaASICMin: AU$250
7
4.5(5,000 reviews)
Visit WebsiteBest for Businesses
Airwallex is the go-to solution for businesses needing multi-currency operations. Their free Starter account includes global accounts in 20+ currencies, unlimited corporate cards, and batch payments to 1,000+ recipients. With just 0.2% above interbank rates, they're significantly cheaper than traditional business banking.
Established
2015
Currencies
20+
Transfer Fee
None (0.2% FX)
Speed
Same day - 2 days
Best for:
BusinessesMulti-currency operationsBatch paymentsCorporate cards
Key Features:
Free business account
10 global currency accounts
Unlimited corporate cards
Batch payments to 1,000+ recipients
API integration
Expense management
Pros
- •No setup or monthly fees (Starter)
- •Excellent batch payment capability
- •Very competitive 0.2% FX margin
- •Unlimited multi-currency cards
- •Strong API for automation
Cons
- •Business-focused only
- •Limited currencies (20+)
- •Advanced features require paid plan
Melbourne, AustraliaASIC, FCA, MAS, HKMAMin: No minimum
8
4.4(50,000 reviews)
Visit WebsiteBest for Remittances
Remitly specializes in remittances to family abroad, serving 170+ countries with flexible delivery options including bank deposit, cash pickup at 400,000+ locations, mobile money, and even home delivery. Their Express option delivers in minutes, making them ideal for urgent family support.
Established
2011
Currencies
100+
Transfer Fee
$0 - $4.99
Speed
Minutes - 5 days
Best for:
Family remittancesMobile money deliveryCash pickupDeveloping countries
Key Features:
Express and Economy options
Cash pickup at 400,000+ locations
Mobile money delivery
Bank deposit
Home delivery in select countries
Promotional rates for new users
Pros
- •Multiple delivery options
- •Cash pickup worldwide
- •Mobile money for unbanked recipients
- •Express delivery in minutes
- •Strong mobile app
Cons
- •Higher margins than specialists
- •Daily/monthly limits
- •Rates vary significantly by corridor
Seattle, USAFinCEN, FCA, ASICMin: $1
9
4.9(2,900 reviews)
Visit WebsiteBest for UK-Europe Property
Key Currency stands out by routing every single inquiry directly to a dealer - not a call center. With representatives across Spain (Costa del Sol, Costa Blanca, Murcia, Catalunya, Ibiza) and Portugal, they're the specialist choice for UK expats and property buyers in southern Europe. Founded by industry veterans including the former CEO of City Index.
Established
2015
Currencies
39+
Transfer Fee
None
Speed
1-4 business days
Best for:
UK to Spain/Portugal transfersProperty purchasesExpats in EuropePersonal service
Key Features:
Direct-to-dealer for all inquiries
Strong Spain/Portugal presence
Forward contracts
Limit orders
No minimum transfer
Multi-lingual staff (Spanish, Swedish, Italian)
Pros
- •Every inquiry goes direct to dealer
- •Strong European presence (Spain, Portugal)
- •No minimum transfer amount
- •Multi-lingual support
- •Award-winning service
Cons
- •No mobile app
- •Not available to US clients
- •Rates may be higher for small amounts
Cornwall, UKFCAMin: No minimum
10
4.7(500 reviews)
Visit WebsiteBest for Forward Contracts
Clear Currency specializes in helping clients lock in exchange rates with forward contracts for up to 24 months - essential for property purchases, emigration, or anyone needing rate certainty. Their FCA-regulated service combines competitive rates with dedicated specialist support for a personalized experience.
Established
2013
Currencies
35+
Transfer Fee
None
Speed
1-3 business days
Best for:
Rate hedgingForward contractsUK transfersCompetitive rates
Key Features:
Forward contracts up to 24 months
Competitive exchange rates
Dedicated specialist support
35+ currencies
Rate alerts
No transfer fees
Pros
- •Excellent forward contract options
- •Bank-beating exchange rates
- •Dedicated currency specialist
- •FCA regulated
- •No transfer fees
Cons
- •UK-focused service
- •Smaller company
- •Limited online features
London, UKFCAMin: £100
Transferring Large Sums of Money Internationally
When transferring large amounts for property purchases, emigration funds, or business transactions, the choice of provider becomes even more critical. A 1% difference in exchange rate on a £100,000 transfer equals £1,000 - enough to significantly impact your budget.
Best Practices for Large Transfers
- Use a regulated currency broker (not a bank)
- Request quotes from 2-3 providers to compare
- Consider forward contracts to lock in rates
- Complete KYC documentation early to avoid delays
- Understand reporting requirements (e.g., US Form 709 for gifts over $18,000)
Recommended for Large Transfers
1
Currencies Direct
Best rates for £5,000+ transfers
2
TorFX
Personal service with dedicated dealer
3
Send Payments
Lowest margins (~0.01%) for Australia
Forward Contracts Explained
A forward contract allows you to lock in today's exchange rate for a transfer up to 24 months in the future. This is invaluable for property purchases where completion may be months away, protecting you from adverse currency movements.
Example: If you're buying a €300,000 property in Spain with completion in 6 months, locking in a rate of 1.17 guarantees you'll pay £256,410. Without a forward contract, if the rate drops to 1.12, you'd pay £267,857 - a £11,447 difference.
Currency Brokers vs Banks: Why Specialists Win
Currency brokers are specialist financial companies that focus exclusively on international money transfers. Unlike banks that offer transfers as a side service, brokers have optimized their entire operation around providing the best exchange rates and lowest fees.
| Factor | Currency Broker | Traditional Bank |
|---|---|---|
| Exchange Rate Markup | 0.2% - 1.5% | 2% - 5% |
| Transfer Fee | £0 - £5 | £15 - £40 |
| Personal Account Manager | ||
| Forward Contracts | Limited | |
| Rate Alerts | ||
| Cost on £10,000 transfer | ~£50 - £150 | ~£240 - £540 |
How Currency Brokers Work
- 1You register and complete identity verification (KYC)
- 2Get a quote showing the exchange rate and any fees
- 3Lock in your rate (instantly or via forward contract)
- 4Transfer your funds to the broker via bank transfer
- 5Broker converts and sends to your recipient's account (1-4 days)
Receiving Money from Abroad
If you're receiving international payments - whether from property sales, pensions, salary, or clients - using the right service can save significant money. Traditional bank SWIFT transfers incur fees from both the sending and receiving bank, plus poor exchange rates.
Best Options for Receiving Money
Wise
Get local bank details in 10+ currencies (USD, EUR, GBP, AUD, etc.). Clients pay to your "local" account, avoiding international fees entirely.
OFX
Multi-currency account with local details for USD, EUR, GBP, CAD. Hold funds and convert when rates are favorable.
Airwallex
Business accounts with global receiving details. Perfect for freelancers and businesses with international clients.
How Local Account Details Work
Services like Wise and OFX provide you with actual local bank account numbers in multiple countries. When someone pays you:
- US client pays to your US account (no international fees)
- Funds arrive same-day or next-day
- Convert to your home currency at mid-market rates
- Withdraw to your bank account
How to Choose the Right Money Transfer Service
Transfer Amount
Under $5K: Choose Wise for transparent fees. Over $5K: Currency brokers like Currencies Direct offer better wholesale rates.
Speed Required
Urgent: Wise and Remitly offer same-day delivery. Standard: Most brokers deliver in 1-4 business days.
Destination Country
Some providers specialize in certain corridors. Send Payments for Australia, Key Currency for Spain/Portugal.
Mobile Experience
Prefer managing on your phone? XE and Wise have the best mobile apps. TorFX and Key Currency focus on phone/web.
Personal Service
Want a dedicated account manager? TorFX, Key Currency, and Currencies Direct assign personal dealers to all clients.
Business Needs
For business accounts with batch payments and corporate cards, Airwallex is purpose-built for company operations.
Frequently Asked Questions
What is the cheapest way to transfer money internationally?
For small transfers under $5,000, Wise typically offers the best value with transparent fees starting at 0.57% and the real mid-market exchange rate. For larger transfers over $5,000, currency brokers like Currencies Direct, TorFX, or Send Payments offer better wholesale rates that can save hundreds or thousands compared to banks and app-based services.
Are money transfer companies safe?
Yes, reputable money transfer companies are regulated by financial authorities such as the FCA (UK), FinCEN (US), ASIC (Australia), and MAS (Singapore). They're required to segregate client funds from company funds, meaning your money is protected even if the company faces financial difficulties. All companies in our list are fully regulated and have strong track records.
How long do international money transfers take?
Transfer times vary by provider and destination. Wise and Remitly can deliver within minutes to hours on many routes. Traditional currency brokers typically take 1-4 business days. Banks using SWIFT can take 3-5 business days. The destination country's banking system also affects timing.
What is a forward contract and should I use one?
A forward contract lets you lock in today's exchange rate for a transfer up to 24 months in the future. This is invaluable for property purchases, emigration funds, or any large transfer where you want certainty about the final cost. Forward contracts protect you from adverse currency movements but also mean you won't benefit if rates improve.
Can I transfer money to someone without a bank account?
Yes, services like Remitly and Western Union offer cash pickup at thousands of locations worldwide, mobile money delivery (like M-Pesa in Africa), and even home delivery in some countries. This is ideal for sending money to family in areas with limited banking access.
What fees should I watch out for?
Beyond the advertised transfer fee, watch for: exchange rate margins (the difference between mid-market and offered rate), receiving bank fees (especially with SWIFT transfers), intermediary bank fees, and currency conversion fees if the recipient's bank converts the currency. Always ask for the total cost including all fees.
Is it better to use a bank or a currency broker?
Currency brokers almost always offer better value. Banks typically charge 2-5% exchange rate margins plus £15-40 in fees. Brokers charge 0.2-1.5% margins with zero transfer fees. On a £10,000 transfer, this difference can mean saving £200-400. Brokers also offer forward contracts and personal service that most banks don't provide.
How do I choose between Wise and a currency broker?
Choose Wise for: transfers under $5,000, maximum transparency, instant transfers, multi-currency account with debit card. Choose a currency broker for: transfers over $5,000, forward contracts, personal account manager, negotiated rates on large amounts, property purchases or emigration funds.
Do I need to report large international transfers?
Reporting requirements vary by country. In the US, banks must report transfers over $10,000, and gifts over $18,000 (2024) may require filing Form 709. In the UK, there's no reporting requirement for personal transfers, but your bank may ask about the source of funds for large amounts. Always check your country's specific requirements.
What's the best way to receive money from abroad?
The best method depends on your situation. For regular payments (salary, freelance income), services like Wise or OFX provide local bank details in multiple currencies, allowing payers to send domestic transfers that you then convert at excellent rates. For one-off receipts, having the sender use a currency broker often provides better rates than receiving via SWIFT.
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Warwick Woodley
Founder & CEO, MoverFocus
40+ Years Experience
International Moving Expert
With over four decades of hands-on experience in international moving and freight forwarding, Warwick brings unparalleled expertise to every relocation. As a former FIDI Academy trainer, he's trained movers worldwide and now uses that knowledge to deliver a more personal, transparent approach to international moving.
"International moving should feel personal, not transactional. That's the core value I built this company on."
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