20 Best International Money Transfer Organizations in 2023

The importance of international money transfer companies is increasing at an alarming rate. This is because slow and expensive bank wire transfers are a major source of frustration for many people.

Businesses require more affordable payment transfers for both making and accepting payments. International investors, as well as small business owners, rely on them for success. They may lose up to 3 percent on each transaction (bank transfer cost), making their investments unprofitable.

Most importantly, migrant workers require these transfers because the cost of remittances significantly impacts both their own and the global economy. There are also international travelers and other people who rely on these services primarily for the convenience of their schedules.

Overall, there is a high level of demand in this market, and it is not surprising that dozens of money transfer companies have sprung up worldwide to meet this demand. However, not all of them are equally good and dependable in the same way.

Because this industry is not yet well-regulated, you must choose a provider with extreme caution.

The following Top 20 list of international money transfer providers will assist you in identifying the most suitable provider for your requirements.

Keep in mind that while many excellent companies provide affordable transfers, each one has a specific area of expertise. As a result, you should think about the type of transfer you require before selecting the most appropriate company for you.

What Is a Money Transfer Company?

An international money transfer or international bank involves sending money to either another person and/or a company overseas. This transaction can be completed either through a bank or a specialist money transfer service. The money can be received electronically or in cash.

How Do Money Transfer Organizations Work?

One person or business can send money to another person or business through the services of a money transfer company. Online, in person at a bank, over the phone, or through money order services are all options for completing domestic transfers and international payments, which can be done for either.

It is common for a money transfer company to act as a broker, accepting funds from the originator and transferring them to the recipient – and in the case of international transfers, the money transfer company will exchange the funds into the appropriate currency before depositing the funds.

Some money transfer companies accept incoming funds from credit cards, while others require that the funds be transferred to a bank account linked to the company.

In some cases, recipients can choose to have the funds deposited into their bank account or arrange for cash to be delivered.

All money transfer companies must be regulated to handle your money safely and securely–in the United States, this is the responsibility of the Financial Crimes Enforcement Network, which requires all members to adhere to strict guidelines and stipulations to keep their money safe.

Ensure the company is regulated to feel confident about trusting them with your money.

In almost every instance, using a money transfer service rather than a bank is a more cost-effective, faster, and more efficient method of sending money internationally.

Therefore, when sending money either domestically or internationally, you may consider using a money transfer service rather than a traditional brick-and-mortar bank to ensure your funds are delivered as quickly as possible.

You may like to know How To Transfer Money From One Bank To Another Easily

The Most Important Factors to Consider When Choosing a Money Transfer Service

There are a plethora of money transfer companies available, and selecting the most appropriate one will depend on several factors, including:

  • Security feature
  • Exchange margin
  • Fees
  • Speed
  • Country

Exactly what kinds of security features do they have?

It is critical to ensure the security of transactions, particularly those conducted online. Choosing a money transfer service with acceptable levels of security provides you with peace of mind regarding cyber threats and fraud.

Keep an eye out for SSL encryption, third-party proprietary software (such as Norton), and if the account includes card payments, make sure that the account adheres to the Payment Card Industry Data Security Standards (PCI/DSS).

Keep in mind that, even with enterprise-level security, online transactions can still be subjected to fraud or theft by unauthorized parties.


One of the most important considerations is the service’s cost. Money transfer companies charge fees for their services, which are generally divided into three categories: transaction fees, processing fees, and other fees.

In this category, you will find costs associated with completing the transfer, such as administrative fees. This is the method by which the money transfer service generates revenue in order to keep the service operational.

Exchange rate margin

When sending money internationally, the money must be converted into the recipient’s currency, which is determined by the exchange rate margin. Some money transfer companies increase the exchange rate by a small margin over what is currently available.

In some instances, the recipient may be required to pay additional fees for the funds to be deposited into their accounts. For example, land or SWIFT fees are examples of such charges.


Money transfer services that allow for almost immediate fund exchange are the best option if you need to make transfers quickly; however, waiting for the transfer to complete may result in lower fees if you are willing to wait for the transfer to complete.


Because not all international money transfer companies are available in every country, ensuring that the company you choose is available in both your home country (the origin country) and the destination country is critical.

Finding the right service that works in the countries where you want to do business should be a top priority for any company.

What is the Procedure for Transferring Money?

Here are the procedures for transferring money:

  • Select a money transfer service provider
  • Register for a free account.
  • Configure your Transfer.
  • Fees should be double-checked and confirmed.
  • Keep track of your transfer

Select a money transfer service provider

Our money transfer comparison tool will help you identify the most suitable service for your requirements. We evaluate products and services based on their price, as well as their security, dependability, speed, and availability.

Register for a free account.

Create an account on the website or app of the transfer service provider of your choice. This should be completely free: you should only be charged for the transfer, not the account.

To verify your account, you’ll need your bank account information and some form of identification on hand.

Configure your Transfer.

Then enter the recipient’s contact information and bank account information, along with the amount of money you’re sending to the specified location.

Fees should be double-checked and confirmed.

At this point, you should be able to double-check that the fees are what you expected them to be and see an estimate of how long it will take for the funds to be transferred. If you are satisfied with this and have verified that all of your information is correct, you can proceed with the transfer.

Keep track of your transfer

You can track the progress of your transfer once most of the providers listed below have started it. This allows you to know exactly when your transfer has been delivered.

20 Best International Money Transfer Organization

Here are the best international money transfer companies worth checking out this 2023:

  • Bank
  • Transferwise
  • Remitly
  • Ria
  • Western Union
  • Paypal
  • OFX
  • Xoom
  • MoneyGram
  • WorldRemit
  • Payoneer
  • Skrill
  • WorldFirst
  • Paysend
  • SENDFXSend
  • Currencies Direct
  • Moneycorp
  • Azimo
  • Remit2India

1. The Bank of Your Choice

One of the top international money companies that do transfers is Bank. All you have to do is to check with your financial institution to see if they provide wire transfers.

Because you already do business with your bank and have an account there, this is frequently the quickest and most convenient method of transferring funds.

Note, the rates vary from bank to bank and depend on whether you’re sending funds to a branch of the same bank or a branch of a different bank. And most banks require 2 – 3 business days to complete wire transfer transactions.

2. Transferwise

Transferwise is another money transfer organization around the world. Transferwise believes in charging reasonable fees and does not charge markups on transfers. You’ll pay the same exchange rate as you would have paid if you hadn’t used the service.

Although Transferwise charges fees, like any other business, they are among the most reasonable in the industry.

They must make a profit to survive. Using a bank account has the least amount of fees – usually, 1 percent of the amount transferred. You can also pay with a debit or credit card if you prefer that method.

Most transfers are completed immediately, but bank transfers can take up to three days to complete.

You may like to read Transferwise Reviews: Send Money Abroad Service or What?

3. Remitly

Remitly is another option for sending money overseas quickly, as they provide both an economy and an express option for sending money.

The express option expedites the transfer of funds by a few minutes. When it comes to sending and receiving money, you and your recipients have a variety of options, including bank transfers and in-person pickups.

When you first open the account, you can send up to $10,000, and after 180 days, you can send up to $60,000 once the account has been established.

Concerning the fees, Remitly charges a markup fee on the exchange rate in addition to a transfer fee, albeit at one of the lowest levels in the industry. And it offers same-day (within a few minutes) transfers as well as economy transfers, which can take up to 5 days, depending on the destination.

4. Ria

Currently, Ria is available in nearly 150 countries and operates 370,000 branches. However, funds must be sent via bank account rather than debit or credit card in order to be picked up the same day in many branches in the Dominican Republic, the Philippines, Peru, and Vietnam, when they are available.

Unless you physically transfer funds, Ria will only accept transfers up to $3,000 per day. On average, transfers can take up to 4 days, but some bank account transfers can be completed in minutes or seconds.

5. Western Union Money Transfer

Western Union is one of the most established methods of sending money overseas, transferring funds between nearly 200 different countries every day.

If you prefer to transfer funds in person rather than online, Western Union has physical branches all over the world. They also offer an online transfer option, which is also available.

With Western Union, transfers for regular fees may take up to one week, but you can pay a premium to have them processed more quickly.

6. PayPal

PayPal is the quickest and most convenient way to send money internationally and electronically. You transfer money from your PayPal account to the PayPal account of the person who received the money. The entire procedure is carried out on a digital platform.

You link your bank account to PayPal in order to send funds to the recipient, and the recipient digitally transfers the funds from PayPal to his or her bank account.

Interestingly, when sending money to friends or family members in another country, PayPal charges a small percentage of the transaction.

See How To Transfer Paypal Money To Bank Account Easily

7. OFX

OFX is the most cost-effective method of sending money internationally. This money transfer company doesn’t charge transfer fees on any amount, but there are exchange rate markups to be aware of when making international payments. Transferring at least $1,000 is required, but there is no limit to the amount of money you can transfer.

Note, for transfers of over $30,000, you can take advantage of the ‘buy now, transfer later’ option, which allows you to lock in a low exchange rate for a future transfer. This option is only available for transfers of over $30,000.

Depending on how long your bank takes to transfer the funds to OFX and vice versa on the other side, it could take up to 5 – 7 business days to complete the transaction.

8. Xoom

The company Xoom, a PayPal subsidiary, provides fast international money transfers, with recipients receiving funds in a matter of minutes. PayPal accepts payments through its website, but the funds must come from a bank account, not a PayPal balance.

Xoom has different ‘approval tiers,’ which determine how much money you are allowed to send and receive. You can send up to $50,000 right away if your account is fully verified. However, if you send over $10,000 in a single transfer, the transfer will be delayed by a few days.

In terms of rates, Xoom charges substantial fees for transfers made via debit or credit card, but not for transfers made via direct bank deposit.

9. MoneyGram

MoneyGram has more than 300,000 locations in more than 200 countries, making it simple to send money around the world using their service. They don’t have the lowest rates, but they do provide quick transfers in most cases, which is convenient if you need to get somewhere quickly.

You are only allowed to make one transfer of $10,000 at a time and one transfer per month, which can be a problem if you need to send larger sums abroad.

However, the company charges a markup fee on all transactions and a transfer fee for all transactions other than bank transfers.

10. WorldRemit

WorldRemit is an online money transfer service that facilitates the transfer of funds in 56 countries worldwide.

You can transfer funds to the recipient’s bank account, local pick-up, or even via mobile wallet, which is the method of choice for the vast majority of WorldRemit transfers.

WorldRemit charges a transfer fee in addition to a markup on exchange rates, which also allows them to make a profit there. However, because they are an online service, their exchange rates are lower than those offered by other services.

11. Payoneer

Payoneer provides international money transfer services to more than 200 countries and 150 currencies through its Payoneer website. Business and freelancers are the primary targets of its marketing, which includes a simple platform for sending money internationally.

Payoneer has a prestigious clientele, including well-known companies such as Airbnb, Upwork, Google, and Amazon, which use Payoneer for large-scale payments.

12. Skrill

Skrill is a payment service that is extremely popular among online gambling customers, forex traders, and traders. Skrill has a clientele of over 120,000 online merchants worldwide and markets itself as a service that focuses on providing quick transfers and the ability to transact using cryptocurrencies in addition to traditional money transfer methods.

Thanks to its modern and user-friendly website and mobile app, Skrill has received a rating of 4.7 out of 5 on TrustPilot, and it makes international money transfers simple and straightforward.

13. Paysend

Paysend, a true specialist in international card payments, is a flexible and rapidly expanding money transfer platform that supports credit and debit card payments to an impressive network of nearly 100 receiving countries through a variety of pay-out options.

Paysend is a flexible and rapidly expanding money transfer platform that supports credit and debit card payments to an impressive network of nearly 100 receiving countries through a variety of pay-out options.

14. WorldFirst

WorldFirst is a veteran of the online money transfer industry with over a decade of experience. This organization has recently undergone a significant transformation.

The Alibaba Group purchased it, and as a result of the massive influx of funding, it rose quickly. WorldFirst now offers the best foreign exchange margins in the entire industry.

One of the best solutions for making large transfers with a fixed margin is to use a transfer broker. Because of its close relationship with Alibaba, the company is also able to provide a wide range of useful services to online merchants in general.

The company’s pricing is completely transparent and supports more than 130 different currencies. It has several offices around the world and accepts clients from all over the world, with the exception of the United States.

15. SENDFXSend

Send is another company with a 5-star customer rating on TrustPilot, despite the fact that it is based in Australia but provides services throughout the world.

Mozo, one of Australia’s leading financial comparison platforms, recognized them as the ‘Best value international money transfer provider’ for the second year in a row.

Clients moving from one country to another can benefit from excellent exchange rates on high volume transfers, zero fees, the ability to book transfers 24 hours a day, seven days a week, and same-day transfers, as well as local support from a team of account managers with whom you can speak and discuss your requirements.

Setting up an account with Send is simple and free, and there is no obligation to continue using them once the account has been created.

As soon as your identity has been verified, you will be introduced to a member of their team who will discuss and then complete your transaction; alternatively, if you prefer not to speak with anyone, you can self-serve on their secure 24/7 payments platform.


TorFX, which is based in the United Kingdom, is another transfer company that has received a five-star rating on TrustPilot.

It has also received a number of accolades, including the Moneyfacts Consumer Awards for Best Customer Service and Exceptional Money Transfer Provider, the latter of which it has received for four consecutive years.

Interestingly, TorFX does not charge fees when sending money through their company, unlike the other two companies mentioned above. They also have excellent currency exchange rates.

17. Currencies Direct

In addition to Currencies Direct, several other international money transfer companies cater primarily to high-net-worth individuals. It provides a wide range of beneficial services for investors and business owners. This includes providing expertise on international real estate investments, among other things.

Interestingly, the minimum transfer amount with Currencies Direct is $100, and the company charges no transfer fees. The Financial Conduct Authority, the South African Reserve Bank, FINTRAC, and FinCEN govern it.

18. Moneycorp

In today’s world, Moneycorp is one of the international money transfer companies that is expanding and improving at a rapid pace. It has only recently been announced that it will be joining Shortlist, which will provide simple and affordable payments for freelancers.

Investors and businesses will benefit from using this service, which is ranked among the top 20 international money transfer companies. In addition to offering lower rates for large transfers, the company provides a variety of additional services, such as currency expert guidance.

Due to the low transaction minimum of $50, Moneycorp can be used for both small private transfers and large corporate transactions. In contrast, the provider has the best rates reserved for customers who conduct a large number of transactions.

19. Azimo

Azimo is only available to residents of the Eurozone’s 24 member countries and countries surrounding the Eurozone, such as the United Kingdom, Denmark, Norway, Sweden, and Switzerland.

When it comes to sending money to India quickly, they are a trustworthy and secure provider of money transfer services.

For first-time users, they offer enticing promotions such as better exchange rates and the elimination of fees.

20. Remit2India

Remit2India is an online platform for money transfers that specifically targets Non-Resident Indians (NRIs). This money transfer company allows you to send money to India if you are a resident of one of the countries in which they operate.

Basically, they have two options regarding the exchange rate: a guaranteed exchange rate or an indicative exchange rate based on the market. And there are no hidden fees when you use Remit2India; all fees are disclosed upfront.

Regarding the fees, there are no transfer fees for residents of the United Kingdom. The maximum amount you can send via online transfer is £100,000, and the maximum amount you can send via wire transfer is £200,000.

FAQs On 20 Best International Money Transfer Organizations

What Is a Money Transfer Company?

An international money transfer or bank involves sending money to another person and/or a company overseas.

What factors to Consider When Choosing a Money Transfer Service?

Here are some factors to consider:
Exchange margin

What are the best money transfer Organizations?

Here is a list of the top money transfer companies:
Western Union
Currencies Direct



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