Xe Money Transfers
- Send money overseas in just one day
- More than 40 different currencies available
- Low transfer fees
- Keep track of your transaction 24/7 online
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Best international money transfer apps
Send money overseas with these top-rated mobile money transfer apps.
When it comes to sending money overseas, banks aren’t your only option. You’ll often get lower fees and more convenient transfer options with a money transfer app.
We’ve scoured the market to find the best international money transfer apps, comparing transfer fees, exchange rates, speed, user friendliness and more. Here are our top picks.
Finder’s picks for the best money transfer apps
| Xe Money Transfer |
|
| Remitly |
|
| Wise (formerly TransferWise) |
|
| WorldRemit |
|
| OFX |
|
| Western Union |
|
1. Xe Money Transfers
Best for sending free or low-fee transfers
With a high maximum transfer amount and no fees for transfers over CAD500, Xe Money Transfers are cost effective if you send funds frequently. But if you need to send cash or pay in cash, you'll have to look elsewhere.
Rated 3.5/5 on Google Play and 4.3/5 on the Apple App Store
- Free for transfers over $500 (otherwise a fee applies)
- Same-day delivery for some transfers
- Competitive exchange rates
- No cash pick-up option
- Some destinations not supported (incl. China, Russia, Cayman Islands and Egypt)
| Receiving options | Bank account |
|---|---|
| Pay By | Credit card Debit card Bank transfer |
2. Remitly
Best for highly-rated mobile app
With the Remitly app, you'll be given the exact date and time your money will be available for your recipient. If your transfer is late, Remitly has a money-back guarantee. Learn more about this and other features before downloading the app to make sure it's the right fit for you.
Rated 4.8/5 on Google Play and 4.9/5 on the Apple App Store
- Competitive exchange rates and offer great promotional offers for first-time users
- Diverse delivery options - send money to bank accounts, for cash pickup and to mobile wallets
- Low max transfer limits for new customers - limited to $999 per day and $2,999 per 7-day period
- No hedging options
- Inconsistent markups added to exchange rates across different countries
| Receiving options | Bank account |
|---|---|
| Pay By | Bank transfer |
3. Wise
Best for exchange rate
Send payments using the mid-market rate in 80 countries with the Wise app. It includes a calculator you can use to get exchange rates and fees for specific transfers and offers an easy way to upload a photo of any personal ID needed to get started with Wise.
Rated 4.1/5 on Google Play and 4.5/5 on the Apple App Store
- No markup on the exchange rate
- Easy to use app with great UX
- Low transfer minimum and high sending limits
- No cash pick-up option
- Not suitable for large transfers due to transfer fees
- Recipient must have a bank account
| Receiving options | Bank account Mobile wallet Prepaid phone credit Alipay (China only) |
|---|---|
| Pay By | Credit card Debit card Bank transfer |
4. WorldRemit
Best for variety of delivery options
WorldRemit's network is smaller than providers like Western Union, but you'll often find better rates and lower fees with WorldRemit. WorldRemit's app shows you upfront the exchange rate and fees you'll be paying without needing to sign up.
Rated 4.7/5 on Google Play and 4.8/5 on the Apple App Store
- Flexible payment options
- Cash pickups, wallet transfers and airtime top-ups available within minutes after sending
- Send money to over 130 countries
- Maximum daily limits
- Inconsistent markups across currencies, exchange rate markups range from 1-4%
| Receiving options | Cash pickup location Bank account Mobile wallet Prepaid phone credit Alipay (China only) |
|---|---|
| Pay By | Credit card Debit card Bank transfer |
5. OFX
Best for sending large transfers
OFX is a money transfer service that allows you to make large transfers in more than 50 currencies to over 190 countries from Canada. They provide dedicated account experts to advice customers and allow you to lock-in exchange rates ahead of time.
Rated 4.8/5 on Google Play and 4.2/5 on the Apple App Store
- OFX supports over 50 currencies
- No transfer fees over $10,000
- You can hedge your risk and lock in exchange rates 12 months ahead of time
- Not suitable for transfers for $2,000
- Recipient must have a bank account
- First transfer requires phone verification
| Receiving options | Bank account |
|---|---|
| Pay By | Debit card Bank transfer |
6. Western Union
Best for Large global network
Western Union is an established brand in the money transfer space and has a wide reach their online platform, mobile app and over 2,500 agent locations in Canada.
Rated 4.3/5 on Google Play and 4.6/5 on the Apple App Store
- User-friendly app that offers fast cash transfers
- Massive network with over 200,000 agent locations worldwide
- Higher fees for cash pickups
- Expensive for domestic transfers
- Not possible to send more than $7,500 online
| Receiving options | Cash pickup location Bank account |
|---|---|
| Pay By | Bank transfer |
How do I find the best money transfer app?
Consider the following factors when comparing the value and quality of money transfer services:
Exchange rates
- Mid-market rate. This is the “true” exchange rate between a pair of currencies (without any fees deducted for transfer services).
- Exchange rate markup. Many transfer services deduct a small percentage of the midmarket rate as a fee.
- Exchange rate vs fees. Pay attention to both fees and exchange rates. Some services offer $0 fees but charge a wide margin on the exchange rate.
Fees
- Transfer fee. Can be a flat fee, percentage fee or even free.
- Transfer amount. Percentage fees add up for large transfers. Some providers waive the fee at a certain threshold.
- Payment method. Credit card payments can be expensive. Paying by bank transfer is often cheaper.
- Receiving fee. Your recipient’s bank may charge a fee for receiving funds.
Speed
- Financial network. Money typically passes through a complex network of intermediary banks to get to its destination. This impacts the speed of the transfer.
- Transfer methods. Cash transfers often arrive quicker than bank wire transfers.
- Time of transfer. Your transfer may be delayed if you send on weekends or holidays.
Security
- Encryption and account protection. Transfer services often use SSL certificates to encrypt user data and multi-factor authentication to prevent unauthorized access to accounts.
- Customer reviews. Find out which money transfer apps are reputable by checking out real customers reviews on sites like Trustpilot or the Better Business Bureau (BBB).
Compare money transfer services
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 13 of 13
{"niche":"CAFMT"}
Bottom line
To find the best international money transfer app, you need to look at fees, exchange rates, transfer options, speed and safety. Consider whether you’ll be sending small or large transfers, how often you need to send money, and which payment methods are the most convenient for you. To learn more about sending money overseas, check out our guide to international money transfers.
Frequently asked questions
More guides on Finder
-
PayPal vs. Canadian banks for international money transfers
See how the payment industry giant stacks up against Canadian banks for fees, exchange rates, transfers speed and more.
-
How to buy a car overseas with an international money transfer
Find out how to buy a car overseas by sending a safe and affordable international money transfer.
-
Are Wyre money transfers available in Canada?
Find out if Wyre money transfer and crypto payment solutions are available in Canada, and compare other money transfer services for businesses.
-
What is a billing address or a remittance address?
Sending a payment to a company but not sure which address to use? Find out about billing addresses (also known as remittance addresses) in this guide.
-
Remitly vs. PayPal
Compare this well-known global payments giant to newer transfer service, Remitly, to see which is better for fees, exchange rates and transfer speed.
-
MoneyGram vs. Ria
We compare these international money transfer services to see which has lower fees, better exchange rates and faster service.
-
List of SWIFT codes for banks in Mexico
Sending an international money transfer or wire transfer to a bank in Mexico? Find SWIFT codes for banks in Mexico here.
-
Western Union vs. Ria
Which company offers the better international money transfer services: Western Union or Ria? Compare fees, exchange rates and speed to find out.
-
US dollar to Canadian dollar exchange rate
Learn more about how to find the best exchange rate for USD to CAD money transfers.