Money Transfer Reviews

April Summers

Author: April Summers

Keith Hodges

Fact Checker: Keith Hodges

Why trust us

We only list companies that are trustworthy and appropriately licensed. Our aim is to give you a comprehensive view of the regulated money transfer marketplace.

Disclosure

MoneyTransfers aims to help users find the best money transfer provider for their needs. To support our free service, we may earn a commission from some of the providers listed in our search results. The commission may also impact the ordering of the providers shown. Our reviews are independent from this and are based on our editorial policy, research and testing of dozens of remittance providers on the market.

In our reviews we’ll take you through the best companies around and what to look for in a money transfer provider.

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A Place in the Sun Currency
1 A Place in the Sun Currency
Read Review
7.4
Visit aplaceinthesuncurrency.com/
Aspora
2 Aspora
Read Review
7.9
Visit aspora.com
Atlantic Money
3 Atlantic Money
Read Review
8.7
Visit atlantic.money
BCRemit
4 BCRemit
7.8
Visit
BOSS Money
5 BOSS Money
Read Review
8.7
Visit
Cambridge Currencies
6 Cambridge Currencies
Read Review
8.0
Visit cambridgecurrencies.com/
Caribe Express
7 Caribe Express
Read Review
3.8
Visit
Caxton
8 Caxton
?
Visit
Currencies Direct
9 Currencies Direct
Read Review
8.9
Visit currenciesdirect.com
CurrencyFair
10 CurrencyFair
Read Review
8.0
Visit currencyfair.com
Currencyflow
11 Currencyflow
Read Review
?
Visit currencyflow.com
Currency Solutions
12 Currency Solutions
Read Review
3.0
Visit
Dahabshiil
13 Dahabshiil
?
Visit
Easy FX
14 Easy FX
Read Review
5.5
Visit
Fair FX
15 Fair FX
Read Review
3.0
Visit
Felix
16 Felix
Read Review
8.0
Visit
Global66
17 Global66
Read Review
8.2
Visit global66.com
Halo financial
18 Halo financial
Read Review
4.5
Visit
Instarem
19 Instarem
Read Review
8.1
Visit instarem.com
Kabayan Remit
20 Kabayan Remit
Read Review
3.0
Visit
Key Currency
21 Key Currency
Read Review
8.4
Visit keycurrency.co.uk
Lulu Money
22 Lulu Money
Read Review
3.5
Visit
Lumon
23 Lumon
?
Visit
Moneycorp
24 Moneycorp
Read Review
7.0
Visit
MoneyGram
25 MoneyGram
Read Review
7.0
Visit moneygram.com
OFX
8.2
Visit ofx.com
Opal Transfer
27 Opal Transfer
7.5
Visit
Orbit Remit
28 Orbit Remit
Read Review
6.2
Visit
PassTo
29 PassTo
8.0
Visit
Paysend
30 Paysend
Read Review
6.5
Visit
Profee
31 Profee
Read Review
8.0
Visit profee.com
Regency FX
32 Regency FX
Read Review
8.6
Visit regencyfx.com
Remitbee
33 Remitbee
Read Review
7.0
Visit
Remitly
34 Remitly
Read Review
7.7
Visit remitly.com
Revolut
35 Revolut
Read Review
8.5
Visit revolut.com

US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.

Ria Money Transfer
36 Ria Money Transfer
Read Review
6.0
Visit riamoneytransfer.com
Sendwave
37 Sendwave
Read Review
?
Visit
Sling Money
38 Sling Money
Read Review
?
Visit sling.money/gb/
Smart Currency Exchange
39 Smart Currency Exchange
Read Review
5.0
Visit
Sterling FX
40 Sterling FX
3.2
Visit
TalkRemit
41 TalkRemit
?
Visit
TorFx
42 TorFx
Read Review
8.9
Visit torfx.com
TransferGo
43 TransferGo
Read Review
7.3
Visit
Verto FX
44 Verto FX
7.0
Visit
Western Union
45 Western Union
Read Review
6.5
Visit westernunion.com
Wise
46 Wise
Read Review
9.2
Visit wise.com
WorldRemit
47 WorldRemit
Read Review
8.7
Visit worldremit.com
Xe
8.2
Visit xe.com
Xoom
49 Xoom
Read Review
5.0
Visit

Money transfer company reviews

Money transfer companies are the cheapest, easiest, and fastest way to send money abroad. Use our reviews to find the most suitable company for your needs based on our data, ease of use, fees, coverage, and exchange rates.

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Taptap Send Review

Taptap is generally a really good service to use, but it does have its limitations. Here’s a quick overview of when you should and shouldn’t use it.

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Africhange Review

Africhange is best for transfers from Nigeria, since hardly anyone offers these transfers.

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KOHO Review

KOHO is generally great for making small to mid-sized international transfers from Canada. It uses interbank rates with clear upfront fees.

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Fiberpay Review

Fiberpay is best suited for those making large and complex international transfers, think buying property abroad, handling taxes abroad, or making international business payments.

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Felix Pago Review

Felix is unique in terms of how you send money. All transfers are made through WhatsApp, making it much more convenient compared to other top money transfer companies.

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Sling Money

Sling Money is not limited to traditional payment and banking networks, opening the door to money transfers between a larger range of countries than others.

Currencyflow Review

I'll be putting Currencyflow through our standard rating system to see how they fare.

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Aspora Review

Aspora is the uprising company for money transfers to India, with no exchange rate markup and extremely low fees.

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OrbitRemit

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A Place In The Sun Currency

The key areas of our A Place In The Sun Currency review are focused on the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

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WorldRemit

WorldRemit doesn't put a list of all their fees online, so you’ll have to input the details of your transfer to find out how much you’ll need to pay in fees. However, once you do, you’ll be shown what rate you get and what transfer fee you’ll pay depending on the destination, currency and payment method.

Cambridge Currencies

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

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Revolut

Using our unique scoring system, we’ve reviewed Revolut based on cost, speed, transfer limits, and more. Here's a quick overview of Revolut's pros and cons.

Regency FX

Using our unique scoring system, we’ve analyzed exactly how good Regency FX is, and how it compares with some of the other exchange services available on the market.

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.

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Global66

Global66 doesn’t generally charge upfront fees.

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Statrys

Statrys is an excellent choice for sole traders or smaller institutions with global operations centered in the Asia Pacific region.

SendWave

Sendwave is an international money transfer service that focuses on remitting money from the US and Europe to Africa, Asia, and the Americas. The app-based company is constantly expanding their global coverage and endeavors to maintain zero transfer fees. This review of Sendwave will evaluate the quality, speed, cost and customer support, presenting specialist alternative operators in any cases where the company falls short of industry standards.

Caribe Express

Caribe Express offers money transfer services within, to, and from, the Dominican Republic. The service is a part of a broader financial services company that offers document support as well.

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BoxyPay

Is BoxyPay worth it? Probably not, as there are many better alternatives such as Wise, WorldRemit, Nala, or Paga.

VFX Financial

VFX Financial (formerly VoltrexFX) is a UK-based foreign exchange and global payments services provider that caters for both individuals and businesses. Since its founding in 2001, the company has grown to support cross-border transfers to over 200 countries in 63 currencies.

VertoFX

VertoFX is a B2B money transfer service that was developed in response to data that indicates almost 50% of businesses that send money overseas are generally unsatisfied with the exchange rates and transfer speed of their current payment provider. The company has made it their mission to fix this problem by simplifying cross-border transactions for businesses. In this review, we will explore the functions, features, and other finer details of VertoFX international transfers.

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UAE Exchange

The key areas of our UAE Exchange review are focused on the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

TransferMate

This review will look at the exchange rates and fees, available payment methods, transfer speeds, customer feedback, and everything else you need to know.

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Transfast

As of now, Transfast only works with customers in - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

Smart Currency Exchange

This review will tell you all you need to know about Smart Currency Exchange, so you can decide whether this is the right money transfer service for you.

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Small World

Alternatively, use the button below to find the best service for your needs.

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Remit2India

You can also use our form below to find the best deal on money transfer to India based on your needs.

Post Office

In this review, we will be focusing on Post Office International Money Transfers: the exchange rates, fees, payment processes, and everything else you need to know about arranging international remittances through the Post Office.

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Paga

The key areas of our Paga review are the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

Pangea

Derived from the Greek term, “pangaia” which means “all the Earth,” the name of this money transfer company is very fitting as it continues to work towards becoming a globally accessible remittance operator.

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NALA

The key areas of our NALA review are the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

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Orlandi Valuta

Alternatively, use our form below to find the right money transfer service for your needs.

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Ria Money Transfer

Ria Money Transfer is best for when you need to make in-store transfers, or planning on making multiple recurring payments to hard-to-reach areas.

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Halo Financial

With over 15 years of experience in the industry, Halo Financial has built a reputation as a trusted authority in the industry; but does it tick all the boxes?

MoneyCorp

Moneycorp is a UK-based international payments and foreign exchange company that offers customised services to individual clients, online sellers, sole traders, and large corporate institutions. The provider blends industry expertise and cutting-edge technology to enable its customers to save money and make fast cross border payments.

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MoneyGram

MoneyGram is best for when you need to make in-store transfers, or planning on making multiple recurring payments to hard-to-reach areas.

Money2India

“Send money from anywhere to India” is the tagline for this specialist money transfer operator. Later on in this review we will investigate the validity of this claim, by taking a closer look at the global coverage and accessibility of Money2India’s services.

Key Currency

This UK-based money transfer provider endeavours to be a leading authority in the international remittance industry, for both personal and business clients. In this review, we will identify the distinguishing features of Key Currency by observing the cost, credibility, and support options available to customers sending and receiving money transfers.

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Kabayan Remit

Kabayan Remit is dedicated to offering innovative international money transfer solutions for the Filipino community in the UK, Canada, and the US.

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iRemit

In this iRemit review we’ve looked at the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.

FairFX

FairFX is a transfer service founded by Jason Drummond in 2007, in the UK. As the company name suggests, the ethos of this business model is to provide an online money transfer platform that specialises in fair, low-cost international payment services. FairFX provides three core financial services: international money transfers, foreign cash and multi-currency cards.

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EasyFX

In our our EasyFX we’ve looked at the fees and exchange rates, transfer speed and limits, product offering and ease of use, safety features, and customer feedback.

BookMyForex

BookMyForex is one of India’s leading currency exchange marketplaces, connecting customers in India with more than 5,000 forex money exchangers and banks. It is authorised and regulated by the Reserve Bank of India (RBI).

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Xoom

Xoom is best for when you need to make in-store transfers, or planning on making multiple recurring payments to hard-to-reach areas.

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Lulu Exchange

When reviewing LuLu Exchange we’ve looked at the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety and customer feedback.

Currency Solutions

Currency Solutions has been a UK-registered company since August 2003. Its mission is simple: to provide its customers with competitive exchange rates and innovative money transfer and electronic payment services. The platform supports 34 currencies with the Pound, Euro, and US dollar being its most popular currencies. As well as the good exchange rates on offer, the company is praised for its transparency, quick transfer times, and level of service across many of its user reviews.

b-sharpe

Founded in 2006 and based in Geneva, Switzerland, b-sharpe is a specialist currency broker that helps both private and corporate clients take with currency exchanges and international money transfers.

RemitBee

RemitBee is an online money transfer and currency exchange service. It allows users to send funds internationally and also provides solutions for exchanging various currencies.

Aussie Forex

Aussie Forex was established in 2005 and is now one of Australia’s leading money transfer companies - with offices in Sydney, Melbourne, and Perth. Currently, Aussie Forex allows customers to send money to 10 countries, all in Asia, through cash pickup and direct bank deposits to beneficiaries’ accounts. In this review, we will look at transfer fees and exchange rates, the payments you can make with Aussie Forex, transfer limits, speed and anything else you would want to know in order to find out if Aussie Forex is the right online money transfer service for you.

1st Contact

1st Contact is a UK-based cross-border financial services provider founded in 1995. In addition to foreign exchange and money transfer services, the company offers accounting and citizenship services mainly to customers moving to the UK.

CurrencyTransfer

CurrencyTransfer is a cloud-based SaaS service that strives to help customers send money faster and cheaper than traditional banks. The founding team has more than 10 year’s experience and, as a result, have successfully developed a foreign exchange trading platform which is optimised for customer convenience. In this review we will be investigating how CurrencyTransfer compares to other leading money transfer companies and what kind of savings can be gained by using this service provider.

Paysend

Paysend is a global financial technology company that allows users to make cross-border card-to-card transfers, as well as payments to bank accounts and digital wallets. In an increasingly interconnected world, the demand for cheap money transfer services continues to rise, and Paysend is dedicated to catering to this market. In this review we will take a closer look at the intricacies of this money transfer operator; from exchange rates and transfer fees, to location coverage and customer feedback.

Remitly

Remitly is one of the largest independent digital remittance companies in the United States. Based in Seattle, the provider serves over 2 million customers who collectively send an annual remittance volume of more $6 billion.

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OFX

OFX is an international money transfer company with an excellent reputation. Known for offering competitive exchange rates and quality 24/7 customer service, OFX simplifies the process of moving money overseas, thanks to its global network of 195 countries. Read on to learn more about how this money transfer service differs from more traditional bank transfers.

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CurrencyFair

CurrencyFair was founded in 2010, and has been providing money transfers for over a decade. With over 150,000 customers signed up and a network of over 150 countries to which you can send money, they’re a solid option for those looking for a new provider.

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Western Union

The Western Union brand is perhaps one of the most well-known in the money transfer industry. Founded in the United States over 170 years ago, this company has grown into a global operation that supports international remittances from all four corners of the world. In this review of the company we will assess how expensive, efficient and trustworthy Western Union money transfers are.

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Currencies Direct

Based in the UK but with a global customer base, Currencies Direct has established a loyal customer base. Offering services for both individuals and businesses, it’s a well-known brand with a strong reputation.

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TorFX

We've analyzed TorFX’s money transfer service from head to toe, breaking it down into its costs, service, ease of use, safety and trust, and customer feedback.

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Instarem

We have analyzed Instarem’s money transfer service from head to toe, breaking it down into its costs, service, ease of use, safety and trust, and customer feedback.

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TransferGo

The remittance review team at MoneyTransfers.com has analyzed TransferGo’s money transfer service from head to toe, breaking it down into its costs, service, ease of use, safety and trust, and customer feedback.

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XE

XE Money Transfers is a provider with over thirty years of experience arranging global remittance. They have one of the largest money transfer networks in the world, covering over 190 countries in 100+ currencies.

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Wise

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Atlantic Money

The remittance review team at MoneyTransfers.com has analyzed Atlantic Money’s money transfer service from head to toe, breaking it down into its costs, service, ease of use, safety and trust, and customer feedback.

Business bank accounts

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Bancoli Review

Before you choose whether to transfer funds overseas with Bancoli, here’s a quick summary of benefits and drawbacks.

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Equals Money

Before going into more details, here’s a quick summary of the benefits and drawbacks of Equals Money.

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WorldFirst

Before going into more detail, here’s a quick summary of the benefits and drawbacks of WorldFirst.

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IFX Payments Review

Their flagship product, ibanq, provides multi-currency virtual IBAN accounts, enabling businesses to receive, hold, and send funds across borders, giving companies greater control over their global cash flow. Their mass payment functionality simplifies payroll and supplier payments, even across multiple currencies, ensuring businesses can process international payments in bulk without opening local currency accounts.

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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.

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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.

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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.

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Revolut Business

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

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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.

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Sokin

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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.

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Payoneer

Globally Payoneer serves around 190 countries, gives access to local accounts in 9 and supports 70 currencies. Features within the account allow you to take advantage of payments, invoicing and bulk options in each location. Where Payoneer is stronger than the likes of Revolut Business or Wise Business, is that it is built for international companies - as opposed to being an offshoot of a personal offering. This sets them apart from other providers, alongside the likes of Airwallex, by offering a full international business solution.

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Airwallex

When scoring Airwallex as an international business provider we factored in the product offering, speed of sending money, cost, safety measures in place and customer satisfaction.

Bank reviews

Traditional banks are still a popular choice to transfer funds abroad, largely due to their convenience. If you're looking for a bank, use our reviews to learn more about our experience, exchange rates, fees, and more.

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Capital One

You can send international wire transfers with Capital One, however, at a higher cost compared to other banks and services. They also use a SWIFT network to process their transactions, meaning transactions will take longer.

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Citibank

Compared to the services offered by money transfer specialists, like Wise or Zing, Citibank customers are making a loss on their international transfers due to transaction exchange rate margin.

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City National Bank

Despite the bank’s presence in multiple states, City National Bank lacks the same reach as other, larger high-street banks like Chase, Wells Fargo, or Bank of America.

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Discover Bank®

You can make international transfers online using your Discover bank account.

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Federal Bank

We’ve had a look at how Federal Bank is compared to money transfer providers, and here’s a quick summary of the two.

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Fifth Third Bank

We’ve compared Fifth Third Bank to the average money transfer company, and here you can see the summary of our analysis.

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First National Bank

FNB offers international money transfers as well as local transfer services in South Africa.

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Navy Federal Credit Union

Here’s an overview of how NFCU international transfers compare to international money transfer providers.

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Regions Bank

We’ve compared the fees and exchange rates between Regions Bank and an average money transfer provider.

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TD Group

Sending money internationally is easy thanks to a variety of transfer options available with TD Bank.

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Bank of America

No doubt BofA is one of the more popular banks in the US, but it might not be your best option for sending money abroad.

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Chase Bank

Here’s a quick overview of Chase and how it compares to an average money transfer provider.

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HSBC

We’ve looked at and analyzed the exchange rates, transfer costs, support, and online user reviews. Here’s a quick summary of the top highlights and drawbacks.

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Truist Bank

Here’s a quick overview of how Truis Bank compares to money transfer services.

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Wells Fargo

Here’s an overview of Wells Fargo’s international transfers, and how they compare to money transfer companies.

Payment app reviews

Payment apps are a popular choice for domestic hassle-free transfers to friends and family. Use our reviews to learn more about exchange rates, how they compare to other providers, fees, and more.

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Taptap Send Review

Taptap is generally a really good service to use, but it does have its limitations. Here’s a quick overview of when you should and shouldn’t use it.

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BOSS Money Review

Here's a quick overview of why you should consider BOSS Money and when you should be looking for an alternative.

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Felix Pago Review

Felix is unique in terms of how you send money. All transfers are made through WhatsApp, making it much more convenient compared to other top money transfer companies.

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Sling Money

Sling Money is not limited to traditional payment and banking networks, opening the door to money transfers between a larger range of countries than others.

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Cash App

You may have heard of Cash App; a mobile payment service with a reported 30 million monthly active users in 2020. The popularity of the platform is attributed to the simplicity of its user interface, as well as its ability to process domestic payments instantly. In this guide we will outline how to send money using Cash App.

metapay

Facebook Pay

Facebook has transformed from a social media platform to an all-encompassing, multipurpose website. Originally designed to be an online community where users could share life events and post personal updates, opinions and feelings, Facebook has evolved into an online marketplace, digital advertising space and international messenger service. It makes sense, then, that in 2019 the social media giant decided to venture into the remittance industry, by introducing their online payments service, Facebook Pay.

gpay

Google Pay

Google’s multifaceted payment platform is available to Android users and can be used for a range of different transactions. Now accepted by millions of locations, Google Pay is used by a global community for sending and receiving money. In this guide we will look at how to send money using this app and further investigate any additional international services.

PayPal

PayPal

As a pioneering purveyor of online payments, PayPal has been making waves within the industry since its inception in 1998. What started as an eCommerce platform has rapidly evolved over the last few decades, growing into an all-encompassing payment solutions provider. We want to know if the PayPal app, which is widely revered as a useful payment tool for sending money between friends and family, is as useful for those making international payments.

venmo

Venmo

In this guide we run through how to use Venmo, a digital wallet and financial services app, to send money. As a fast, free and easy way to move funds around, this mobile money app is a popular US-based payment platform, and we outline how to utilise its money transfer functions.

zelle

Zelle®

Zelle is a peer-to-peer mobile app used for money transfers between trusted contacts. This US-based company is different to other money transfer providers functioning as a built-in service compatible with online and mobile banking platforms. Integrated with hundreds of banks and credit unions across the United States, Zelle has over 100 million users across the continent.

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Skrill

In some ways, Skrill is unique in its market positioning. It’s not an uncommon payment service for primarily online businesses. Alongside PayPal, it’s interestingly one of the most common transfer services used by online casinos.

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Atlantic Money

The remittance review team at MoneyTransfers.com has analyzed Atlantic Money’s money transfer service from head to toe, breaking it down into its costs, service, ease of use, safety and trust, and customer feedback.

Compare money transfer companies

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TorFX vs Wise

If you do not have either one, here’s a quick overview of when it’s best to use TorFX or Wise:

Zelle vs Venmo

Zelle vs Venmo

Zelle and Venmo are popular payment providers for customers based in America. Both companies exclusively handles domestic money transfers, a deal-breaker for anyone hoping to send money overseas. If international money transfers are on the agenda, you will need to look elsewhere as both Zelle and Venmo handle US-only transactions. Find out How to Transfer Money Within the USA.

Zelle vs PayPal

Zelle vs PayPal

In a bid to find out which brand is the better option for sending international money transfers, we will be exploring each area of Zelle and PayPal’s financial services.

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Zelle Vs Google Pay

It is worth mentioning early on in this comparison that both companies offer limited global coverage: Zelle only supports domestic transfers in the US, while Google Pay international transfers are restricted to India and Singapore only, although there is mention of future plans for expansion.

Zelle Vs Cash App

Zelle Vs Cash App

Both brands primarily focus on domestic money transfers, or in Cash App’s case, transfers between UK and US customers only.

Venmo vs PayPal

Venmo vs PayPal

In 2013, Venmo was acquired by PayPal, and since then it has reported increased growth of 40 million users (between 2017 and 2020). Venmo payments are accepted at more than 2 million retailers in the US and company revenue is worth an estimated $450 million.

Venmo vs Cash App

Venmo vs Cash App

Venmo and Cash App are peer-to-peer (P2P) money transfer companies which function primarily as mobile applications. Both companies were founded in the United States; Venmo in 2009 and Cash App in 2013.

PayPal vs Payoneer

PayPal vs Payoneer

Overall, it's difficult to make a direct call between the two companies because of how specialist Payoneer's services are. Payoneer is excellent for businesses, online merchants, and freelancers, but PayPal may be the better choice for sending money to friends and family. Read below to see how we compared Paypal vs Payoneer.

Cash app & paypal

Cash App vs PayPal

In this comparison we will be weighing up the diverse money transfer services offered by two huge FinTech companies, PayPal and Cash App. Both companies were incorporated in the United States and have successfully developed user-friendly mobile applications.

Revolut vs N26

Revolut Vs N26

Due to their advantageous partnership with Wise, N26 is in a better position and therefore wins the award for lowest transfer fees.

Monese vs Monzo

Monese vs Monzo

Monese and Monzo are two challenger banks born in Britain, having been founded in London’s financial district; but the similarities don’t stop there. Both companies were launched in 2015 and have been making waves in the world of digital banking over the last six years, each taking on the task of enticing customers away from traditional methods of banking and converting them to online banking alternatives.

Monzo vs Starling

Starling vs Monzo

Monzo would never have come to exist without the founding of Starling Bank; so it is no wonder the two have been set in opposition since the very beginning. Both companies primarily serve their customers through digital banking apps which have been intuitively designed to make online purchases, international money transfers and in-store transactions super streamlined and easy to manage. In this comparison we will examine each of their service and product areas, to discover who is the best: Monzo vs Starling.

N26 vs Monzo

N26 vs Monzo

Challenger banks, also known as neobanks, are a type of banks that are shaking up the status quo by operating exclusively online or without the traditional expectations of long-established large national banks. They are set up to compete with the bigger banks, by providing more accessible and convenient online alternatives to traditional banking services. Both banks cut overhead costs by operating purely online, removing the need for physical bank branches and saving money in the process.

Revolut vs Monzo

Revolut vs Monzo

Despite their differences, Revolut and Monzo attract a similar crowd: technology-savvy customers who are searching for the same high standards upheld by long-standing high street banks, but presented digitally via mobile applications and online platforms. We will now compare how each brand performs in the most important areas covered by any financial service provider.

InstaReM vs Wise

Instarem vs Wise

Below are the live fees and rates for Wise and Instarem for various transfer amounts.

WorldRemit vs Wise

WorldRemit vs Wise

Overall, Wise is better than WorldRemit for international money transfers, unless you need to send airtime.

MoneyGram vs PayPal

MoneyGram vs PayPal

Overall, MoneyGram has better exchange rates, lower fees, more positive user reviews, and faster transfer times than PayPal. This, in addition to the fact that MoneyGram offers cash pickups as a delivery method, makes it the clear winner in this Moneygram vs Paypal comparison - but that doesn't mean it's always the best service for your transfer needs.

Monzo vs Wise

Monzo vs Wise

Both Monzo and Wise are UK-based financial services dedicated to breaking the mould in their respective fields, by providing innovative solutions for consumers around the world.

OFX vs Wise

OFX vs Wise

If you do not have either one, here’s a quick overview of when it’s best to use OFX or Wise:

Remitly vs Wise.png

Remitly vs Wise

If you do not have either one, here’s a quick overview of when it’s best to use Remitly or Wise:

Remitly vs WesternUnion.png

Remitly vs Western Union

Overall, our findings between Remitly vs Western Union are that you will typically find lower rates, faster transfer times, and more efficient customer service when using Remitly's services.

Remitly vs Xoom

Remitly vs Xoom

Ria Money Transfer vs Xoom

Ria Money Transfer vs Xoom

Overall, Xoom comes up on top in this Ria vs Xoom comparison. The two money transfer operators share similarities, but where Xoom stands apart is its digital-led focus enabling the company to offer more competitive exchange rates, lower fees, and speedy transfer times. On top of that, Xoom has glowing reviews for its ease of use and convenience. While Ria Money Transfer is certainly a reputable transfer provider, the only real selling point that may make them a more appealing option between the two is its thousands of agent locations across the globe, which those who would prefer to avoid...

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Wise vs PayPal

PayPal is an excellent service for making online payments and sending money between family and friends within the same currency. However, when it comes to sending funds between currencies, Wise offers a more specialist service that enables it to charge lower fees, more favourable exchange rates, and get your money to your recipient in less time.

Wise vs Western Union

Wise vs Western Union

Between Wise vs Western Union, it's safe to say that Wise is almost always going to provide a more affordable option.

Wise vs Xoom

Wise vs Xoom

Both of these money transfer providers are extremely well-respected and secure services for sending your money internationally. However, when it comes to fees, Wise is unmatched – the company’s transparent fee structure and commitment to providing transfers at the mid-market rate leaves Xoom’s fees and exchange rate markup looking unfavourable in every comparison.

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MoneyGram vs Western Union

MoneyGram and Western Union are two of the biggest money transfer providers operating today, with decades of experience to back up their services. The two operators are very similar in many ways. Between Western Union vs MoneyGram, both operate in a wide range of countries worldwide with hundreds of thousands of agent locations to make transfers more convenient (although MoneyGram's 350,000 locations is a little less wide-spread as Western Union's 500,000 locations), and both operators have made steps to modernise their services with apps in recent years.

Western Union vs PayPal

PayPal vs Western Union

Our Western Union vs PayPal comparison has found that Western Union offers faster transfer times, more favourable exchange rates, and lower fees than PayPal. While PayPal does have it's advantages for more convenient transfers domestically, Western Union is the better choice for international transfers.

Wise Vs Revolut.png

Wise vs Revolut

If you do not have either one, here’s a quick overview of when it’s best to use Revolut or Wise:

Xe vs Wise.png

Xe vs Wise

Xe and Wise are both world leaders in currency transfers and picking one or the other might be difficult.

Xoom vs WesternUnion.png

Xoom vs Western Union

Our overall findings from comparing Western Union vs Xoom on a number of aspects, including fees, exchange rates, and transfer times, is that Xoom overall offers a more competitive service. However, Western Union’s wide-reaching network and thousands of agent locations is a big selling point for some. In this summary, we'll compare the two companies' fees, exchange rates, transfer times, accessibility and security, location coverage, and more to give an accurate and clear breakdown of which operator might be best for you.

Monese vs Revolut

Monese vs Revolut

Monese and Revolut are two UK-based challenger banks born and bred in London’s financial district. Both companies aim to develop digital financial services that transform traditional methods of banking, to suit the needs of modern day consumers.

Starling vs Revolut

Starling vs Revolut

Having assessed the credentials of each brand, we will now turn our attention to understanding the cost, speed and global coverage of their international money transfer services.

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Table of contents

What to look for in a money transfer company

You have a wide choice of service providers when making an international money transfer.

To help you in your hunt for the perfect money transfer company, here is a quick summary of what you should look for:

Reliability and security

Reliability and security

You’ll want to check a company’s reputation to make sure people have been happy with their service in the past, which will help you know they’re a reliable provider. All companies listed on our website are regulated in their respective jurisdiction

Countries available

Countries available

If you’re sending from one country to another, then it’s crucial to check that your money transfer provider allows transfers via this route. Not all providers offer transfers to all places, and some even specialize in just one specific transfer corridor.

Transfer fees

Transfer fees

Transfer fees can vary greatly across different providers and even vary within the services offered by one provider depending on the route or amount you’re sending. Some companies charge a fixed transfer fee for all transactions, while others charge a different fee for different amounts (e.g. a lower fee for higher amounts).

Exchange rates

Exchange rates

Transfer companies usually charge a small margin on top of the mid-market exchange rate to generate profits, so it’s important to check that this rate is low on the transfer you’re making. Typically banks charge an exchange rate margin in the region of 4-5%, whereas by comparing money transfer companies you can often find rates of less than 1%.

Payment options

Payment options

Some companies only allow for select payment methods, such as bank transfers and debit card payments. Others will offer a wider choice, including digital wallets, mobile payments, and cash.

Collection options

Collection options

Some money transfer companies will only offer the ability to credit money into the recipient’s bank account, whereas others offer services such as cash pick-up or even home delivery.

Transfer limits

Transfer limits

Money transfer companies will usually have set limits on the amount you can transfer at once and in certain time frames (e.g. a day, month, or year). If you are looking to transfer large amounts, make sure you choose a provider that has higher limits, and if you’re making small transfers make sure your chosen provider supports these and doesn’t apply large fees.

Customer service

Customer service

The money transfer company you use for your transfer must offer efficient customer support so that there is someone to help you in case of a problem.

Should I use a bank or a money transfer company?

We suggest using a money transfer company for your international transfers.

These will be much cheaper compared to your bank and will be just as convenient once you set up your account for any future transfers.

For example, banks will charge you 4 - 5% on your transfers compared to 1 - 2% when using a money transfer provider.

International money transfer costs

There are various types of fees that you will have to consider to work out the cost of your international money transfer, which include:

Sending Fee

Sending Fee

In most cases, there is no sending fee. However, some providers may charge you a sending fee depending on the method you choose to fund the transaction.

Transfer fee

Transfer fee

This is a fixed fee charged by the company or a bank.

Exchange Rate

Exchange Rate

Transfer providers often charge a mark-up on the mid-market rate. So, when you read “No” transfer fee, make sure you check the exchange rate being charged to make sure it’s not been inflated too much. This can save you a lot, especially on large transfers abroad or international business payments.

Receiving Fee

Receiving Fee

Sometimes, the beneficiary has to pay a fixed fee to receive an international money transfer. However, this fee is eliminated if the transfer company has local bank accounts in the receiving country.

International money transfer speed

Transferring money from one country to another may take a few seconds to a few days depending on the payment method you choose, currency, the countries involved, and the amount being sent.

More on international transfers

Not ready to use a money transfer provider? Here is a selection of our top guides to send money abroad.

Contributors

April Summers
Author

April Summers

Senior Financial Content Editor and Journalist
April Summers is an experienced Senior Financial Content Editor who combines a wide range of professional skills with her academic background in English literature and journalism. Her professional background includes key positions at the Daily Star, LBB Online, and Entertainment Daily UK, which have sharpened her financial and journalistic expertise.
Artiom Pucinskij
Editor

Artiom Pucinskij

Financial Content Strategist
With 6+ years of hands-on experience in international money transfer services, Artiom has tested and analyzed dozens of companies, services, and apps firsthand. From sending money between the UK, EU, US, JP, and ID, to helping friends and family transfer large amounts abroad, he combines deep personal experience with industry insight. He has worked on content and product at MoneyTransfers.com since 2019, with a focus on FX rates, transfer apps & companies, and comparison tools. His work has been featured in Forbes, Yahoo Finance, Decrypt, PoundSterling, and more.
Keith Hodges
Fact Checker

Keith Hodges

Content Specialist
Keith is an experienced Content Specialist with a rich background in both marketing and journalism within the financial sector. At MoneyTransfers.com, Keith plays a pivotal role in driving the business forward and broadening its reach in various international money transfer markets. His expertise is a key factor in the company's expansion and success.