Keith Hodges

Countries Where Cash Is Still King In An Increasingly Cashless World

The 2020 pandemic skyrocketed the digital payments space, bringing many countries much closer to a cashless society than ever before anticipated. In the years since, many parts of the world continue to expand towards digital-led banking solutions with cash becoming evermore obsolete.

20 Cheapest European Cities for Expats to Buy Property

This summer has been something of a washout, and we at Moneytransfers.com are beginning to wish that we could escape to a holiday home somewhere with a bit more sun. The only question is where? Destinations such as Lanzarote and Paphos have long been popular with expats seeking warmer climes, but no longer offer the great bargains they once did, and with some towns now housing more expats than locals, the exoticism of these resorts is waning too. The great news is that there are still plenty of undiscovered gems waiting to be found, where property prices are low and...

Best Value countries for students to study abroad

For the majority of students, the most important factor when deciding where to study is often the cost of tuition fees. An Oxbridge education in the UK undoubtedly is the most prestige, but with a price tag of $28,000 per year is it worth considering a country where tuition fees are up to 55 times lower? Focusing on fees alone can be a rather prohibitive way of looking at things; as while certain countries, such as Switzerland, boast amongst the cheapest tuition in the world, high-living costs mean that monthly outgoings can soon stack up. At Moneytransfers.com we’ve looked at...

20 Insightful UK Online Shopping Statistics for 2023

Speed, convenience, and low prices are only some of the reasons people are increasingly turning to online shopping. In this overview of UK online shopping statistics, we’ll take an in-depth look at the current state of the country’s ecommerce market. We’ll also reveal the most popular online retailers across various retail segments. Finally, we’ll examine UK online consumers’ demographic characteristics, spending habits, and shopping preferences.

Must-Know UK Remittance Statistics for 2023

The UK is undoubtedly one of the top destinations for expats from all over the world. Huge waves of migrants from Asia, Africa, and a number of countries in Europe go to the UK every year to try to make a better living for their families.

Why don’t Brits trust challenger banks?

So-called ‘challenger banks’ such as Starling Bank, Monzo and Revolut have been making waves in the financial world for the last five years. With their brightly-coloured debit cards and feature-packed apps, they’ve proven particularly popular with Millennials.

The Best International Money Transfer Companies

Using your bank for international wire transfers is expensive due to poor exchange rates and high fees.

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International Payment Gateways

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Wise Business vs Sokin

Wise Business wins in our comparison against Sokin because the product is a bit more rounded. Sokin is a relatively newer player to the business multi-currency account market, so is still developing its product.

Payoneer vs Airwallex

Airwallex is our winner when comparing it with Payoneer. The company offers a well rounded platform which includes 12 local currency accounts. You can also customise expense management workflow.

Wise Business vs Airwallex

Wise Business wins in our comparison against Airwallex. Wise pricing is a little better. But overall, both are a great option for businesses.

Wise Alternatives

International money transfer offers

Best Money Transfer Apps

Sending money through PayPal can feel more convenient if you already have an account. It is often the go-to when considering which app to use.

Global Data: Remittance Data and Statistics

The data on this page is compiled from various sources and highlights the changing remittance payment landscape. The UN has a target cost for all remittances to be below 3% of the transfer amount. We have shown this amount on the graphs throughout.

South America: Remittance Data and Statistics

The data and graphs below highlight the average cost of sending a $200 transfer to South America. This data includes money transfer companies, banks, post offices, and other financial institutions.The average 3% target set by the UN is also presented in the graphs.

Europe: Remittance Data and Statistics

This graph shows the average cost of sending money into Europe from 2016 to date and is based on a $200 transfer. This includes countries that support EUR to EUR transfers as well. We have included these to highlight the impact of unreasonably high fees on the overall cost of sending money.

North America: Remittance Data and Statistics

The data below shows the average cost of sending $200 to North America as a percentage of the amount sent.

Asia: Remittance Data and Statistics

This graph shows the average cost of sending money from 2016 to date and is based on a $200 transfer to Asia. This cost is a combination of fees and foreign exchange rates between the origin countries and Asian countries.

Cambridge Currencies

We've tested each element of the Cambridge Currencies offering. Here's what they offer.

Wise Business Review

Our key measures when testing Wise Business for international business transfers were the product offering, cost, speed, safety and customer satisfaction. We've covered the key points in the table below and each element in more detail throughout the review.

Moneycorp Business

Historically, Moneycorp is considered one of the biggest money transfer providers in the world. The company has over 45 years of history and launch in the USA in 2018. The company is headquartered in the UK but with offices in USA, Ireland, France, Romania, UAE, Hong Kong, Australia and Brazil.

OFX Business

Our key measures when testing OFX Business for international business transfers were the strength of the product offering, cost of service and transfers, speed, safety and customer satisfaction.

Revolut Business

Like their personal offering, the Revolut Business offering is tiered - giving more access to features, the more you pay.

Xe Business

Xe Business offers strong all-round support for international business transfers. As part of our scoring process we have looked at product offering, cost, speed of transfers, safety and customer satisfaction.

Sokin

Multipass

Multipass offers a strong selection of multi-currency option. A setup fee and higher monthly fees than elsewhere are a little offputting when you consider exchange rates are higher than Airwallex, Wise Buiness and Revolut Business.

Monese Review

With clients spanning 31 countries, Monese takes pride in its 4.0 ratings out of the highest 5 from Trustpilot.

first direct Bank

first direct bank offers transparent fees and exchange fees.

Monzo Bank International Transfers

Monzo was founded in 2015, storming onto the scene as an online-only solution aimed at customers looking to make the switch to digital banking.

N26 International Transfers

N26's transparent approach is applied to all their products; the website and mobile application are jam-packed and full of company information, how-to guides, and topical blog posts, making it a helpful resource for new and existing customers.

Starling Bank

Due to its business model - the bank functions solely as a digital entity - the company’s overheads are substantially lower than traditional brick-and-mortar banks such as HSBC and Barclays.

Tide Review

Tide focuses on building modern business accounts for the self-employed. It offers e-money accounts in partnership with PrePay Solutions (PPS) and business bank accounts in partnership with ClearBank.

Profee

We’ve taken a comprehensive look at the services Profee offer, comparing them on everything from their fees to accessibility. Find out if they’re the best service for your money transfers in 2024.