Best International Money Transfer Apps in 2026

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Last updated on July 22nd, 2025Why trust usDisclosure

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Money transfer apps make transferring money easy and convenient by syncing desktop and mobile experiences.

We've looked into the fees, speed, extra features, and usability of all the most popular apps, to guide you to the best option for overseas transfers.

Money transfer apps enable secure, fast, and cost-effective international transfers across multiple devices. They typically offer low fees, competitive exchange rates, and features like multi-currency support. Popular choices include Wise, Revolut, and Remitly.

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.

More often than not, PayPal will not be the right choice. You will get a worse exchange rate and pay higher fees than sending through a money transfer company.

Thankfully, there is another way.

Specialist money transfer apps offer:

Better exchange rates than PayPal (and banks)
Low or no fees

Beyond this, an international money transfer app works by offering features like:

Multi-currency cards and virtual cards
P2P payment options
Better exchange rates and fees than using traditional banks
Open banking and syncing with accounts
Loyalty schemes and bonuses

The best transfer apps

Wise is the app that stands out for its offering across all platforms. The app serves as a multi-currency account, grants access to virtual cards and supports P2P transfers to other Wise users.

For those handling large sums, XE is the go-to app. With a generous limit of $535,000 per transaction, it's our preferred choice for substantial transfers.

Best all-round app

9.2

Wise Read review

Fees

0.1% - 2.6%

Exchange Rate Markup

Visit

"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Best for large payments

8.6

Xe Read review

Fees

$1.99 - $2.99

Exchange Rate Markup

0.3% - 2.1%

Visit

"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."

Best currency broker app

9.0

TorFx Read review

Fees

None

Exchange Rate Markup

0.4% - 1.5%

Visit

"TorFX's 5-star service handles most currency needs, especially relating to overseas property, emigration & retirement. Friendly phone support, no-obligation conversations & no max transfer limit."

Best for cash pickup

8.2

Remitly Read review

Fees

None

Exchange Rate Markup

0.1% - 1.3%

Visit

"Remitly focuses on sending money to friends and family in Asia, Africa and South America. Wide coverage and well-suited to regular transfers home."

Best for airtime

8.7

WorldRemit Read review

Fees

$1.99 - $2.99

Exchange Rate Markup

0.8% - 3%

Visit

"24/7 live chat support provided in six languages. Special first transfer rates available, with airtime topup supported to many countries in Africa, Asia and South America."

Best for transfers to India

8.6

Aspora Read review

Fees

£/€3

Exchange Rate Markup

Visit

"Aspora (formerly Vance) is built for Non-resident Indians sending money to India with zero markup, low flat fees, and on-time transfers."

Best for South America

8.2

Global66 Read review

Fees

Exchange Rate Markup

1.1 - 2%

Visit

"An exciting, fast-growing global payments company focusing on Latin America. Official fintech partner of FC Bayern Munich and offers a best price guarantee."

Best for P2P

8.8

Revolut Read review

Fees

0.3% - 1%

Exchange Rate Markup

0.1% - 0.6%

Visit

"Revolut has 70+ million customers globally. You can hold up to 25+ currencies in the app and send money quickly in 25+ currencies to 140+ countries."

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.

MoneyTransfers App

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Our app is free for mobiles and tablets, with no intrusive ads or in-app purchases.

Money transfer apps for business

9.2

Wise Read review

Transfer Fees

From 0.33%

Exchange Rate Markup

Visit

"Wise Business is used by 300,000+ businesses each year. Easy integrations with Xero, QuickBooks, FreeAgent and more are available."

Web-based business FX platform

8.5

Sokin Read review

Transfer Fees

None

Exchange Rate Markup

From 0.3%

Visit

"Sokin is a global payments platform for businesses. Hold 75+ currencies with free IBAN accounts. Make up to 5,000 payments per batch transfer. Excellent ecommerce payment gateway available."

Best business app

8.8

Airwallex Read review

Transfer Fees

No fees

Exchange Rate Markup

0.5%

Visit

"Airwallex offers a comprehensive financial platform for businesses. Make global transfers to 150+ countries, receive funds in 20+ currencies. Connect with popular software for a seamless approach."

Choosing the best apps

Most companies will tell you that being able to send money at a better rate is what makes a good app.

We compare more companies than anyone on the market, and we think a good app is much more than that.

It's not good enough to say an app is one of the best because it is cheaper than using a bank.

Ultimately, money transfer companies will offer a better cost for sending money internationally than a bank.

But there's much more on offer than that. That's why we look at:

Fees, rates, and overall cost as standard
Additional features exclusive to apps
Ability to move between mobile, tablet, and desktop
Speed and performance of the app
Design and user experience
Customer reviews of apps

So when pitted against each other, particularly for apps, it's important to look at features, user reviews, and performance of an app as well.

Each app and what it offers

Best money transfer app

Wise

Wise is one of the stronger apps for sending and receiving money. The cost of a transfer is around 0.35% vs the 4-5% you will pay with PayPal.

There are a lot of other good features as well, like a multi-currency account and virtual or physical cards.

This makes it a good choice for small, regular transfers and also for travel money spending as well.

Exchange rate	0% (mid-market rate)
Fees	from 0.35%
Multi-currency option	Yes, 10 local accounts
Virtual cards	Yes
Supports P2P	Yes
Open banking and syncing	Yes

Pros

Low fees of 0.35% and the mid-market rate make Wise one of the cheapest ways to send money
The app is easy to use and syncs well with the desktop version. You can also switch between local accounts and balances with ease, and add local accounts within a couple of clicks
Instant transfers to other Wise users through the P2P offering and transfers to other bank accounts, generally within a couple of hours
Recommended for smaller, regular transfers and overseas spending

Cons

While Wise are introducing a managed option for large transfers, the account and app offering a very much self serve. Being able to reach customer service to solve problems is one of the bigger gripes seen on the App Store and Google Play Store.

Show moreHide

Multi-currency options

The Wise app also doubles as a multi-currency account account. So you can send and receive money to local accounts in 10 different currencies as well.

In fact, Wise also made it to our list of the best multi-currency accounts as the overall best option.

Zing and Revolut both do this well, so worth taking a closer look at how the three companies compare.

For Wise, in particular, the options are:

Currency	Wise Details
USD	Routing number and Account number
GBP	Swift/BIC, UK sort code, Account number, and IBAN
EUR	Swift/BIC and IBAN
AUD	BSB code and Account number
NZD	Account number
SGD	Bank code, Swift/BIC, Bank name, and Account number
RON	Swift/BIC and Account number
CAD	Institution number, Transit number, Swift/BIC, and Account number
HUF	Swift/BIC and Account number
TRY	Bank name and IBAN

USD, GBP, and EUR accounts also come with interest rates that (at the time of writing) start at 4% (keep an eye out for any updates here).

Revolut offers slightly higher rates than this, but this does come with a monthly fee.

P2P payments

Wise offers instant transfers between accounts on Wise via a P2P network using a Wisetag. This is either a QR code or @tag that can be shared as needed to request or make payments.

Wise is already one of the fastest money transfer providers on the market, this just aids in quicker transfers and convenience.

Ease of use

The app itself is easy to use and is needly split into four areas: Home, Card, Recipients, Payments

There are not any major surprises here, and the perk of using Wise for sending money is the simplicity it offers. The app is no different.

On the Home screen, you will be able to see recent transactions, both spending and sending, check exchange rates, make payment requests, schedule transfers, set up direct debits, and set up auto conversions on balances that come in.

The latter is particularly useful when receiving regular payments into one account that you may want to convert to a new one.

Read review Visit Wise

Best app for currency conversion

Xe

The XE app allows you to send up to $535,000 per transfer making it a good option for larger transfers.

There are also options for monitoring currencies and setting rate alerts to a mobile - a useful feature for beating changing exchange rates.

No fees are charged for any transfer amounts above $500, making them highly competitive in the high-value remittance market.

In total, the app supports transfers to 65 currencies across 170 countries. You can monitor 10 of these as well for alerts on currency changes.

Exchange rate	0.4%-1.2%
Fees	No fee above $500, between $1-$4
Multi-currency option	No
Virtual cards	No
Supports P2P	No
Open banking and syncing	No

The account doesn't have the same bells and whistles as the likes of Wise or Zing with multi-currency options, but does offer currency conversion and historical charts.

Pros

No fees on even larger transfers, puts Xe as one of the better apps for sending money
Strong features for those interested in currency management, including historical currency charts
Connects with other apps for both businesses and individuals for sending alerts and information. These include Alexa, Slack, Google Assistant and Facebook

Cons

Exchange rates are higher than some options like Zing and Wise, although these do have fees starting at 0.2% and 0.35% respectively

Overall, XE is a solid choice as a money transfer app, particularly for larger transfers that do not need currency risk.

For those looking for management of a transfer, TorFX might be a better option as an app.

Show moreHide

Currency conversion

The XE app is not just a money transfer account, but also a currency converter and rate alert tracker.

These can be done WITHOUT having to sign up for an account as well.

Ease of use

When downloading you will choose from the option of using a money transfer homepage, or a currency converter homepage.

This is a nice touch as it allows users to amend the app to what they want to use it for, as opposed to trying to push users to sign up.

Outside of currency conversion, you'll have the option to send money, see your activity, and see historical currency charts.

As a point of note, these charts are slick and very fast to update when changed. They also do not feel cumbersome or unreadable - even with 10 years of data set.

So it is worth giving a nod to the user experience and development teams that have made this part of the app as simple to use as the rest.

Within the account, you can also save and amend recipients, access the help center, and check any agreements in place.

The latter should be of note for anybody making larger transfers and in need of having to manage any obligations around regulation and tax.

Other features

XE currently offers a signup bonus of $25 / £25 / €25 following an initial transfer.

The charting system already mentioned gets a second shoutout here as well.

Alongside this, XE offers the ability to use automation to send updates to other platforms.

Read review Visit Xe

Best for large transfers

TorFx

What makes TorFX stand out is its personalized approach to international transfers.

The app offering is one of the best from an account-managed service, that bridges the gap nicely into a self-service option.

Through the website, you'll work directly with a specialist account manager when using TorFX for large transfers.

However, this does not work in the same way through the app, although, you can call TorFX from the app and request help on transfers.

We always recommend contacting your account manager for particularly large transfers, as they would offer to use a forward contract which could help you get a better rate.

Exchange rate	0.4%
Fees	No fees
Multi-currency option	No, but has a wallet option for up to 24 currencies
Virtual cards	No
Supports P2P	No
Open banking and syncing	No - but can be synced to a debit card

There's also an option for a wallet, particularly useful for buying currency you want to send and receive.

Recipients can be set up as personal or business, whilst a small touch, it does make using the app easier, and due to the nature of using a currency broker like TorFX, this distinction will aid in keeping finances clean.

Pros

Excellent customer service with a dedicated account manager
No fees on transfers of any size, whether business or personal
Strong security measures, like touch ID and auto-logout, add an extra layer of protection

Cons

UK focused business, so not suitable for all global users

Show moreHide

Wallets

The app supports buying and sending 24 currencies, although calling TorFX will give you access to more if needed.

This being said, all the currencies you might 'expect' to be available are: GBP, EUR, USD, AED, AUD, CAD CHF, CZK, DKK, HKD, HUF, ILS, INR, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, ZAR and UGX.

This works in a way that you purchase the given currency in the app before sending it. This feature means you can buy EUR at one price and send it at a later date.

Other TorFX features

A couple of areas that add an extra layer of security to TorFX are Touch ID login (in addition to the password) and auto logout.

Whilst this might not seem like too much of a big deal, for accounts where wallets are often full of multiple currencies, this feels a little more like how a banking app would work.

Read review Visit TorFx

Best app with a multi-currency card

Currencies Direct

Currencies Direct offers no-fee transfers at low exchange rates between 0.12% and 1.32%.

They also offer account management and are listed as our cheapest account-managed money transfer service provider.

Their transfer limits are not the highest, capped at $50,000, and they only accept bank account transfers, and credit & debit card payments, making them less versatile than some competitors.

Exchange rate	0.12%- 1.32%
Fees	No fees
Multi-currency option	Yes - wallet and multi-currency card
Virtual cards	Yes (and physical)
Supports P2P	No
Open banking and syncing	Yes

There's access to a multi-currency card available, both virtual and physical.

A nice point here, the physical card is free to order (but is only available to European users at the moment). As a comparison, for Wise, you would pay $9 / £7 for the initial card to be sent.

Pros

Access to a virtual card in the app with spending options in 19 currencies - although exchange rates are a little higher than using other cards
Access to hold 30 currencies in the app, with more available to be sent through contacting Currencies Direct

Cons

Transfers can take up to 5 days, which is one of the slower options on the market

Show moreHide

Multi-currency card

The card is easy to sign up for as part of the initial sign-up to the account, but conversions on the card are around 2% when spending.

This is high compared to the mid-market rate offered by Wise (+ a 0.35% fee).

You can use the account for spending across 19 currencies in total.

If you have the account and need to use the card, it is convenient, but if you want an app specifically for spending, Wise, Revolut, or Zing (for UK users) is a better option.

30 currency wallets

Within the app as well, it is possible to hold 19 currencies, like TorFX - more can be sent by contacting and working with Currencies Direct.

Those available in the app are EUR, USD, GBP, AED, AUD, BHD, CAD, CHF, CZK, DKK, HKD, HUF, ILS, INR, JPY, KWD, MUR, MXN, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, SGD, THB, ZAR, UGX.

Easy sign up

One thing noticeable with Currencies Direct is the ease of signing up, ordering a card, and being ready to send. Everything was done in the app, and within a few minutes.

Read review Visit Currencies Direct

Best for Cash Pickup

Remitly

With the Remitly app, you can exchange over 100 currencies.

They take payments by credit and debit card, or by bank transfer/wire transfer, and service over 170 countries.

The company makes the list of best apps as they are they offer the best service when it comes to cash pickup than most alternatives.

With access to Asian markets from the US, UK, and Europe in particular, Remitly is a great choice for sending money to friends and family.

Exchange rate	from 1.5%
Fees	from 0.7%
Multi-currency option	No
Virtual cards	No
Supports P2P	No
Open banking and syncing	No

The perk of the app is the cash pickup option, fees aren't overly competitive and for regular bank transfers Wise or Zing (UK only) are likely the better option.

Pros

Can exchange over 100 currencies and send these into cash pickup locations around the world
Great for people working abroad an looking to send money to friends and family

Cons

Higher fees across the board mean Remitly is not suitable for larger transfers and there are better options for regular bank transfers

Read review Visit Remitly

Best app for Airtime and mobile money

WorldRemit

Similar to Remitly, WorldRemit makes the list of top apps based on giving access to a range of payout options - directly from the app.

With WorldRemit you can send an airtime top-up to a mobile money account, making it the best money transfer app for transfers to Africa.

The company also offers bank transfers and, like Remitly, cash pickup.

These can be funded through the app with a bank, debit card, or credit card.

Be careful using a credit card as this could incur additional fees from a provider.

Exchange rate	0.5% - 1.25%
Fees	from $1.99
Multi-currency option	No
Virtual cards	No
Supports P2P	No
Open banking and syncing	Yes

Exchanges come with a small markup fee, depending on the currency of the transfer. You can calculate exactly how much your transfer will cost by using their calculator before submitting.

The main downside of the service is that WorldRemit doesn’t allow you to send money to many countries in Europe, so check which countries are serviced below before opening an account.

Pros

Offers airtime and mobile money transfers into Africa in particular
Easy to use currency conversion tool and speed of the app make it a standout in terms of performance

Cons

Low transfer limits of up to $9,000 every 24 hours, and $5,000 per transfer
Limited service for European countries

Show moreHide

Exchange rate tracking and notifications

WorldRemit offers the ability to track and get notifications on selected rates. A perk of this is you can set it by payment type as well.

So, if you are sending money for cash pickup you can set one alert, and for bank transfers, a different alert.

This is a neat feature offered by the account that isn't available with other apps.

Repeatable send amounts and recipients

For ease of use within the app there's the ability to resend to existing recipients quickly under a 'Send again' button.

Against the likes of TorFX or Currencies Direct, where the transfer feels a little more like a bank transfer process, this is a cool feature that makes everything a little easier and quicker.

Read review Visit WorldRemit

Best for transfers to India

Aspora

Aspora (ex Vance) is one of the newer money transfer apps specializing in money transfers to India.

They offer cheap transfers from the UK, UAE, Ireland, and Italy to India at the mid-market rate (same as Wise).

However, Aspora is cheaper than Wise when it comes to GBP/INR transfers.

Aspora charges up to £3/€3 for transfers from the UK, IE, and IT, while transfers from the UAE are free at the moment.

Exchange rate	Mid-market rate
Fees	£3/€3 from the UK, IE, IT, and free from the UAE
Multi-currency option	No
Virtual cards	No
Supports P2P	No
Open banking and syncing	No

Pros

Cheapest INR transfers from all other options
Uses mid-market exchange rate
Very fast transfers using UPI payments

Cons

A bit slow to get started, verification can take some time
Limited coverage, currently available in the UK, IE, IT, and UAE

Show moreHide

Read review Visit Aspora

Best for South American transfers

Global66

With instant peer-to-peer transfers (P2P) to other app users, Global66 is one of the fastest transfer apps on the market.

Domestic P2P transfers with Global66 are free, while international payments come with a small fee.

In particular, the app offers access to South American markets not always supported by other apps.

Exchange rate	0% (mid-market rate)
Fees	from $1.99
Multi-currency option	No
Virtual cards	No
Supports P2P	Yes
Open banking and syncing	Yes

The P2P instant transfer service is limited to users in Chile, Peru, Argentina, Brazil, Ecuador, and Mexico, meaning users elsewhere will need to send money directly to their recipient’s bank account (costing you more in fees).

The setup process for Global66 can also be a bit more difficult than average, so it’s a good idea to sign up in advance of your transfer to avoid any delays.

Pros

Fast P2P transfers across a number of key South American markets
Mid-market exchange rate offered on most transfers
A great option for South American users looking to send money, either home or out of their home country

Cons

Whilst the mid-market rate is offered, fees on transfers start from $2, which can make them higher than some in the market. Although, the access offered, it may be worth paying a little more

Show moreHide

South American market access

South American markets (such as Colombia, Guyana, Paraguay, Suriname, Uruguay, Venezuela, etc...) often come with higher exchange rates or fees or are not widely accessible by all money transfer companies.

Global66 stands out as a way to connect these markets, and for those making regular payments to South America, it is a great option.

Read review Visit Global66

Best for P2P Transfers

Revolut

Revolut is a neobank offering international transfers and P2P payment options through its app.

The company has recently confirmed a banking license in the UK, so is going through a growth stage that will make it an interesting watch.

Unlike the other companies in the list, Revolut is very much app first, there's no desktop option really. Although businesses can access one.

The main reason Revolut makes our list is its P2P payment option.

With this, transfers are immediate and exchange rates are hugely competitive.

For regular transfers between countries, for sending money home, for example, it is a fantastic option to consider.

Exchange rate	from 0.4%
Fees	0% up to £500 per month, then 0.2%
Multi-currency option	Yes
Virtual cards	Yes
Supports P2P	Yes
Open banking and syncing	Yes

Pros

Offers the best interest rates on multi-currency balances across USD, EUR and GBP - around 0.2% higher than Wise at the time of writing
Offers additional perks, like RevPoints, that can be turned into air miles or hotel stays
Users have access to a wide range of countries (160) and over 70 currencies
Link all accounts to the app, giving you full access to all finances which may be in other locations

Cons

Limits on transfers are low ($1,000) before you need to pay monthly, or pay increased exchange rates

Show moreHide

P2P payments on Revolut

P2P transfer is the best way to send small payments between friends, family, and colleagues, given you all have a Revolut app installed.

Revolut offers a quick and convenient way to manage these kinds of transactions.

You can easily split the bill into multiple payments, request money from friends, and send money to anyone with the app. All you need is their phone number.

Revolut crowns this list as the best P2P app because of its convenience, availability (18 countries + EEA), and unique RevPoints scheme (more below).

RevPoints and other perks

RevPoints are a relatively new element of the Revolut offering, but make the app a little more attractive for everyday use.

Essentially, spending builds points and these points can then be used on freebies, vouchers, travel points, and other perks.

You get 1 point per £10 spent on a free account, which can be boosted by upgrading to premium plans, doing challenges, using the "Spare Change" feature, and using "Boosts".

It might not seem as much, but I've used the card as a normal travel card since it launched and collected just over 1000 points.

The downside of it is that it is only available in a few EU countries and the UK.

Trading and other aspects of Revolut

Outside of sending money and multi-currency spending, there are a few more perks to Revolut.

Those interested in trading stocks or cryptocurrency can do so through the app. Of course, please do this responsibly.

Read review Visit Revolut

Best app for business

Airwallex

Airwallex is a money transfer app exclusively for businesses.

In almost all areas it is one of the best products on the market and a lot of what Airwallex does well, translates to the app.

This app is particularly good for expense management and card spending.

At both a business and department level, cards can be created, distributed, used, and tracked for expenses.

The company also exchanges rates that would be considered competitive for personal use, let alone at a business level. These also come with no fees.

Exchange rate	from 0.5%
Fees	No fees
Multi-currency option	Yes
Virtual cards	Yes
Supports P2P	Yes
Open banking and syncing	Yes

Airwallex offers an app that is specifically for businesses making international payments and managing global finance.

If you are looking for support for international business transfers, we recommend comparing all specific business providers.

Explore Business Transfers

Read review Visit Airwallex

Where is PayPal?

PayPal is probably the biggest app when it comes to international payments and finance - and can offer convenience, but it is unlikely you will get a good price.

In fact, with high fees and worse exchange rates, PayPal a even more expensive than transferring with a bank.

Here's the data:

Method	Detail	Mid-Market Rate	Exchange Rate ($1 = €XX)	Fees	Received amount
Money transfer company	A company online, or through an account manager, offering competitive rates on international transfers.	0.9302	0.9378	$6.42	€931.73 ✅
Bank account	Every day banks, like Chase, offer weaker exchange rates and slower transfers.	0.9302	0.9058	$5.00	€900.80 ❌
PayPal	Apps like PayPal generally offer the worst exchange rates and add a fee percentage on top.	0.9302	0.8996	$4.99 + 4.5%	€858.64 ❌

PayPal is not good value for money on international money transfers.

We will only ever recommend sending money with an app we think offers a great service, and good value for money.

Other domestic money transfer apps

Peer-to-peer (P2P) payment apps like Venmo, Cash App, and Zelle allow you to add a linked bank account.

Some are even better than PayPal. For example, Zelle is directly built into most banking apps (such as Bank of America, Wells Fargo, and others), giving you even more convenient domestic transfers.

However, like PayPal, these do not offer much in the way of international transfers and there are better alternatives available as listed above.

Outside of this, Revolut and Wise both other P2P services for international transfers.

Revolut Alternatives

Revolut offers low transfer fees, good exchange rates on smaller transfers, free Revolut to Revolut transfers, and many great banking features.

Wise Alternatives

Alternatives to Zelle

Zelle is fast, free, and easy as long as you’re sending money within the US But the moment you try to send funds internationally, well, you can’t.

Artiom Pucinskij

Mar 12, 2026

Best Venmo Alternatives

Venmo is one of the most popular apps in the US for personal payments and social spending. It’s great for splitting bills, paying friends, or quickly sending money to someone nearby.

Artiom Pucinskij

Aug 8, 2025

Alternatives to Cash App

As far as mobile services go, Cash App is widely considered to be a safe and reliable P2P app, but does not support international payments.

Keith Hodges

Jan 23, 2025

Money transfer apps in action

Money transfer apps allow you to transfer money electronically.

You can do this by moving money between bank accounts, transferring a card payment, or using an online wallet to send and receive money.

Some of the best money transfer apps on the market, like Wise and WorldRemit, can send money internationally.

Others, like Venmo and Zelle, can only be used for domestic payments. They usually work differently.

Wise, our top pick in the remittance market, allows you to make both domestic and international transfers.

International money transfer apps

International money transfer companies have bank accounts in many different countries around the world.

When you send money via an international money transfer app, the company can credit the amount to their local account, and send the equivalent - minus any fees and markups - to the recipient via the local account in their country.

This is what makes transfer apps so much faster than traditional bank transfers.

The money itself doesn’t cross international borders, the amount is simply sent from the local account.

Are payment wallets the same as money transfer apps?

Payment wallets are different from money transfer apps, but some transfer providers offer digital wallets as well.

A payment wallet is a digital wallet held on your phone. It stores your payment card information so you can make contactless payments.

Whereas a money transfer app is used to send money from one bank account to another, often internationally.

A good example of a digital wallet is Apple Pay (also known as Apple Cash). You connect your bank to it, and your details are securely stored.

When you request or make a payment, money is taken from the linked account without needing you to add any bank details again.

Some apps offer money transfer services and digital wallets. With PayPal, for example, you can send money directly from your PayPal balance to somebody else’s linked bank account.

Timeframes on transfers through money transfer apps

Sending money through a transfer app is generally faster than a standard bank transfer, but different things can affect the speed of your transfer.

This is because a money transfer company will use its own network (particularly where P2P payments are used), whereas banks can result in need to pay intermediary fees and use correspondent banks to complete a transfer.

Even when using a money transfer app, there are a few things that could impact the overall cost and timeframe of a money transfer.

💱 Currency being sent

Exchanging currency generally takes longer than transferring the same currency. Using a multi-currency account can sometimes speed up a transfer.

Some currencies are subject to more checks than others. For example, most transfers from US dollars into Canadian dollars can be completed in minutes, while transfers between the USD and NGN can take over a day.

🗺️ Destination country

It takes longer to send money to some countries than others. This can happen due to currency exchanges, regulations in the receiving country, or economic sanctions.

Some countries are categorized as ‘slow-to-pay’ because of their fiscal policy and infrastructure that may require additional checks on payments. For example, sending money from the US to the UK should take seconds, but sending money to Guatemala (as an example) will take around two days to complete.

💳 Payment method used

Some payment methods are faster than others when using a money transfer app.

P2P Payments: In most cases, payment is immediate. Requires the sender and recipient to be using the same money transfer app.
Bank transfer: Usually within a couple of hours for smaller amounts or easier-to-reach locations. Sometimes can be immediate.
Debit or prepaid cards: Topping up an app, or sending with, a debit card will usually be complete within 2 days. Sometimes fees are higher, Wise charges an additional $0.20 for card transfers as example.
Credit cards: Similarly to debit, credit cards can be used to top up some apps. Be aware of fees charged by your card issuers, and any interest you will be liable to pay.

Instant bank transfers

Some apps can be associated directly to a bank account. This means you do not have to top up the account ahead of sending.

This is a great option for regular transfers.

Alternatives to money transfer apps

You can transfer money without using a money transfer app, but there are some drawbacks.

The main alternatives are:

Bank wire transfers

Most banks in the US offer wire transfers at a fee, but they’re often not quite as fast as the best money transfer apps and are considerably more expensive.

Wire transfers average about $15, with international wire transfers reaching amounts as high as $30.

Turnaround times are typically within a day but can be up to 3 business days.

The main difference between ACH and wire is the fees vs speed. But both are worse when compared to the money transfer app.

Explore Wire Transfers

ACH bank transfers

ACH bank transfers are becoming more and more accessible, with lots of providers offering ACH transfers free of charge.

However, they take at least 3 working days to clear and you can only make ACH transfers within the US.

It's particularly popular with making regular small payments, such as paying employees or paying bills within the US.

If you need to transfer money overseas, use a different method.

Explore ACH Transfers

Money orders

Money orders let you securely send up to $1,000, but they come with a fee. Most banks and credit unions will be able to give you a money order, as well as the US Post Office and some supermarkets.

They allow the recipient to benefit from the security of a check, without the risk that they may ‘bounce’ - i.e. that the money won’t be deposited.

If you need to send more than $1,000, a money order isn’t the best option for you.

Money orders have a limit of $1,000 and they cost more than most international money transfers.

Explore Money Orders

Should I use my online banking app to send money internationally?

Online banking apps can be used to send money internationally, but these will still incur the same fees as standard ACH or wire transfers.

Money transfer apps are also faster, so there may be a better option.

Finding the best app for you

The best app for you will depend on the specific details of the transfer being made and any ongoing needs for the app.

The key things to consider are:

Cost: Don’t just consider fees here. Some providers charge a markup on their exchange rate, so an app offering ‘no fees’ might end up costing more than one with no markup. Wise is a good example of this, fees are charged at 0.35%, but the markup is 0%. So overall, they're one of the cheapest ways to send money.
Speed: The fastest ways to send money will differ based on the specific transfer amount and route, but generally most providers can get your money to its destination quickly.
The amount you want to send: To send a large amount, use an app that can specialize in managing currency risk and forward contracts, like TorFX.
Payment method you want to use: Some providers only accept digital transfers to other app users. Others can process a variety of payment methods, including ACH transfers, card payments, and P2P payments.
Currency you’re transferring to and from: Some apps only deal in the local currency, while others allow you to hold multiple currencies in one bank account. Check your desired currency is supported before choosing an app.

Safety and security

Money transfer apps are some of the most secure means of sending money overseas.

They come with robust security features to ensure your money goes to the intended recipient.

Look out for:

Customer support

Customer support provides security on anything you are unsure of, from requests for details through to aiding with big payments through apps.

Pick a company with a level of support you are comfortable with.

Secure logins

Secure and encrypted logins are standard across financial products and money transfer apps are no different.

Ensure you know what data is being shared.

For P2P payments, this could be contact details for example.

Facial Recognition

Technology like facial or fingerprint recognition can help protect an app from being accessed, even if a phone is lost or stolen.

Not all apps offer this, but Wise, TorFX, and Zing (UK only) all do.

Fraud detection teams

Like banks, international money transfer app providers will often have fraud detection in place.

These teams work to find any unexpected or unusual activity on accounts.

Using a specialist in large transfers can aid in any unnecessary hold-ups on transfers as well.

Despite this, you must check the details of all transfers you make within your transfer app.

If you accidentally send money to the wrong recipient by inputting incorrect information, you’re unlikely to get your money back.

This is why most apps ask you to confirm the information you’ve entered before making the transfer.

Money transfer regulators

Money transfer companies are regulated slightly differently from banks.

Discover how regulators in each country operate.

Money transfer regulators

Save money and time with a money transfer app

Money transfer apps are easier and cheaper to use for money transfer than traditional methods of transferring money.

This applies whether you’re sending money to an account at home or overseas.

With apps like Wise, you can make an instant money transfer to lots of different countries from your cell phone, without the fuss.

Get started with Wise

Help & FAQ

Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.

FAQs

Sources and further reading

The Best International Money Transfer Companies

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

Apr 23, 2026

Currency Converter App by MoneyTransfers.com

The humble currency converter. One of the first apps launched onto app stores back in 2007. Many of us had one on our phone, and many still do.

Jul 2, 2025

Send money with a debit card

Opting to send money online with a debit card is usually good for:

Jul 25, 2025

International Payment Gateways

Sep 26, 2025

How to Receive Money from Abroad

As the recipient of an international transfer, it's easy to get a raw deal.

Sep 25, 2025

Contributors

Author

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.

Editor

Artiom Pucinskij

Financial Content Strategist

artiom.pucinskij@intent.uk

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.