The Top 10 Money Transfer Companies

Sign up cost: FreeAvailable: Online/appNumber of currencies: 47Number of countries: 49+Minimum transfer: $1 (or equivalent)Transfer fee: Express – $6.99; Economy – fees vary but free if sending more than $500Exchange rate margin: 1–2% above the mid-market rateTransfer speed: Express – arrives in seconds, Economy – 1 to 3 days Best for: Sending money to developing countries Remitly is specifically mobile-optimized, making it simple and straightforward […]

Sign up cost: FreeAvailable: Online/appNumber of currencies: 55+Number of countries: Almost globalMinimum transfer: $1Transfer fee: Between 0.25–1%Exchange rate margin: Actual market ratesTransfer speed: 1–2 days Best for: Businesses with international staff and freelancers InstaReM is based in India and offers a quick, simple and easy process for money transfers, especially to the East. Transfers are simply made through the app, and users can earn loyalty

Sign up cost: FreeAvailable: Online/app/phoneNumber of currencies: 55Number of countries: 155Minimum transfer: $1,000Transfer fee: FreeExchange rate margin: Markup is less on larger transfer amounts but will likely be around 1.5% above mid-marketTransfer speed: 1–5 days Best for: Those who want to work closely with the exchange rates OFX is a great service for those who want to send larger amounts, and with the option of

Sign up cost: FreeAvailable: Online/appNumber of currencies: 150Number of countries: 220Minimum transfer: $1Transfer fee: Different fees for different services; expect to pay between 1–3%Exchange rate margin: 0.5% above the mid-market rateTransfer speed: Almost instant Best for: Businesses and freelancers needing to receive money in multiple currencies Beloved by businesses and freelancers alike, Payoneer is the money transfer service of choice for businesses like Amazon and Google,

Sign up cost: FreeAvailable: Online/appNumber of currencies: 40+Number of countries: 50+Minimum transfer: No minimumTransfer fee: Usually around 0.5%Exchange rate margin: No mark-up – Mid-market rates pegged on US exchange ratesTransfer speed: Can take three to five days to reach the recipient account Best for: International travelers and digital nomads TransferWise is more than just a money transfer service – it also offers what is described

Sign up cost: FreeAvailable: Online/appNumber of currencies: 90Number of countries: 150Minimum transfer: $1Transfer fee: Between $3.99 and $24.99 (depending on currency, etc.)Exchange rate margin: 1–1.5%Transfer speed: Within the hour, but can take up to three days Best for: Those who need varied options for funding and receiving transfers WorldRemit has a range of options for funding your transfer and for how the transfer is delivered.

Sign up cost: FreeAvailable: Online/appNumber of currencies: 35Number of countries: 130Minimum transfer: $10 or equivalentTransfer fee: Up to $4.99 from a bank account, approximately 3% if funded through a credit or debit cardExchange rate margin: 1–3% above the mid-market rateTransfer speed: Within minutes in almost all cases, maximum three to five days Best for: Fast transfers Xoom is a PayPal company, and as such, it

Sign up cost: FreeAvailable: Online/app/phoneNumber of currencies: 139Number of countries: 220Minimum transfer: No minimumTransfer fee: FreeExchange rate margin: 0.5–2% on the current exchange rate, reduces the more you transferTransfer speed: In most cases, same day but can be two to four days depending on currencies and banks Best for: Making transfers from the US and Canada XE is a popular choice for many people looking

Sign up cost: FreeAvailable: Online/app/phoneNumber of currencies: 60+Number of countries: GlobalMinimum transfer: £100 (or equivalent)Transfer fee: FreeExchange rate margin: As close to the interbank rate as possibleTransfer speed: Same day, or at least within two days Best for: Straightforward, no-hassle transfers between major currencies TorFX is an English-based money transfer service that allows multiple ways to transfer – credit cards, bank transfers and over the

Sign up cost: FreeAvailable on: Online/app/phoneNumber of currencies: 40+Number of countries: 120+Minimum transfer: $100 or equivalentTransfer fee: No transfer fees worldwideExchange rate margin: Best rate availableTransfer speed: 1–2 days Best for: Business users and regular transfers Founded in 1996, Currencies Direct is a well-established, long-running service that is known for great customer service. Currencies Direct is not just a money transfer service; it also offers a