{"id":27458,"date":"2019-05-30T12:00:23","date_gmt":"2019-05-30T16:00:23","guid":{"rendered":"https:\/\/www.finder.com\/?p=27458"},"modified":"2026-09-14T10:55:56","modified_gmt":"2026-09-14T14:55:56","slug":"send-money-internationally","status":"publish","type":"page","link":"https:\/\/www.finder.com\/ca\/international-money-transfers\/send-money-internationally","title":{"rendered":"Find the Best Way to Send Money Internationally"},"content":{"rendered":"

Money transfer providers rarely charge the same way. Some charge an upfront fee without marking up the exchange rate, while others advertise \u201czero fees\u201d but hide their cost in a marked-up exchange rate. A third group does a mix of both, charging explicit fees alongside a rate markup. To determine which app is truly the best and most affordable, we tested 18+ money transfer providers and calculated their total cost markups. Here are the results.<\/p>

Compare money transfer apps to find the cheapest option<\/h3>
Money transfer provider<\/th>Cost markup*<\/th>Key features<\/th><\/th><\/tr><\/thead>
Wise<\/td>1.36% \u2013 2.88%<\/td>
  • Get the mid-market exchange rate<\/li>
  • Transparent fees<\/li>
  • User-friendly mobile app<\/li>
  • 24\/7 support<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
Xe<\/td>2.55% \u2013 4.16%<\/td>
  • Worldwide coverage<\/li>
  • Established Canadian company<\/li>
  • Suitable for large transfers<\/li>
  • Highly rated mobile app<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
Remitly<\/td>0% \u2013 5.79%<\/td>
  • Vast global transfer network<\/li>
  • Wide range of payment and delivery methods<\/li>
  • Highly rated mobile app<\/li>
  • 24\/7 customer support<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
RemitBee<\/td>1.82% \u2013 5.52%<\/td>
  • Wide range of payment options<\/li>
  • Send to a bank account, mobile wallet or cash pickup<\/li>
  • Money-back guarantee<\/li>
  • 24\/7 customer support<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Western Union<\/td>-0.53% \u2013 4.77%<\/td>
  • Worldwide coverage<\/li>
  • Established transfer provider<\/li>
  • Send online, in app or in person<\/li>
  • Wide range of receiving options<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
OFX<\/td>1.62% \u2013 3.60%<\/td>
  • Vast transfer network<\/li>
  • 24\/7 support<\/li>
  • Offers personal and business transfers<\/li>
  • No fees on transfers of $10,000 or more<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
MoneyGram<\/td>2.39% \u2013 4.48%<\/td>
  • Worldwide coverage<\/li>
  • Get money to your recipient in minutes<\/li>
  • Send to bank accounts, debit cards, mobile wallets or cash pickup<\/li>
  • User-friendly app<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
WorldRemit<\/td>0.97% \u2013 7.76%<\/td>
  • Send bank transfer, cash pickup, mobile money or airtime top-up<\/li>
  • Vast global transfer network<\/li>
  • 24\/7 customer support<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Pesa<\/td>-0.60% \u2013 1.98%<\/td>
  • No transfer fees<\/li>
  • Send money in minutes<\/li>
  • Competitive exchange rates to popular transfer destinations<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Taptap Send<\/td>0.35% \u2013 4.28%<\/td>
  • Specializes in transfers to Africa, Asia and Latin America<\/li>
  • Send mobile money, bank deposit or cash pickup transfers<\/li>
  • Fast transfers<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Panda Remit<\/td>1.13% \u2013 5.01%<\/td>
  • Send money in minutes<\/li>
  • User-friendly mobile app<\/li>
  • 24\/7 customer support<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Ria<\/td>0.97% \u2013 7.20%<\/td>
  • Send money worldwide<\/li>
  • Wide range of delivery methods<\/li>
  • 24\/7 customer support<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Africhange<\/td>Approx. 0% \u2013 3%<\/td>
  • Specializes in transfers to Africa<\/li>
  • Supports personal and business transfers<\/li>
  • Secure online transfers<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
Instarem<\/td>0.07% \u2013 0.87%<\/td>
  • Instant or same-day transfers<\/li>
  • $0 fees on many transfers<\/li>
  • InstaPoints rewards program<\/li>
  • User-friendly app<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
Paysend<\/td>-2.71% \u2013 2.52%<\/td>
  • Send money worldwide<\/li>
  • Highly rated mobile app<\/li>
  • Send money in minutes<\/li>
  • 24\/7 support<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Sendwave<\/td>0.20% \u2013 2.66%<\/td>
  • Highly rated mobile app<\/li>
  • Discounted introductory exchange rates<\/li>
  • 24\/7 support<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
Xoom<\/td>1.73 \u2013 6.81%<\/td>
  • Vast transfer network<\/li>
  • Multiple delivery methods<\/li>
  • Highly-rated mobile app<\/li><\/ul><\/td>
Learn more<\/a><\/td><\/tr>
CurrencyFair<\/td>1.49% \u2013 3.44%<\/td>
  • Vast transfer network<\/li>
  • Same-day transfers for most major currencies<\/li>
  • Offers personal and business transfers<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr>
Loop<\/td>0.43% \u2013 0.66%**<\/td>
  • Business transfer specialist<\/li>
  • Competitive foreign exchange rates<\/li>
  • No transfer fees<\/li>
  • Unlimited transfers<\/li><\/ul><\/td>
Go to site<\/a>Learn more<\/a><\/td><\/tr><\/tbody><\/table>

*How we calculated the cost markups<\/strong><\/h4>

To find these cost markup ranges, we analyzed the exchange rates and fees charged by different money transfer apps across 10 sample countries (covering a mix of high, medium and low-volume routes).<\/p>

To keep our comparison fair, we chose the cheapest payment and delivery method available for all tests and used a standard sending amount of $200. The only exceptions were OFX and Loop; because they specialize in large transfers, we tested them at $10,000.<\/p>

Keep in mind that exchange rates and fees fluctuate constantly. These ranges are estimates to give you a general idea of costs, not guaranteed rates.<\/p>

**Figures reflect an assumption of sending 1 transfer per week.<\/p>

Why do some money transfer apps have very low or negative markups?<\/h3>

When we first started testing money transfer apps, we were surprised by the good exchange rates on offer from some providers. And we mean really good\u2014sometimes better than the mid-market exchange rate, which is the \u201creal\u201d exchange rate that banks use when they exchange currencies with one another.<\/p>

But we soon realized that those great rates were only available to select destinations<\/strong>. That\u2019s because transfer apps often target high-volume transfer destinations to bring in new customers. So while they might lose money or just break even on your transfer, it\u2019s worth it to them to get you to download and use their app.<\/p>

What are the cheapest payment methods to send money internationally?<\/h3>

In our testing, bank transfers and e-Transfers were usually the cheapest payment methods when sending an international money transfer. Most apps will charge low or no fees when you choose either of these methods.<\/p>

Paying with a debit card, credit card or cash will often incur a higher transfer fee.<\/p>

That said, we found that fees vary depending on the app you choose, how much you send and the transfer destination, so it pays to compare quotes to find the cheapest option.<\/p>

What are the cheapest delivery methods?<\/h3>

Sending money directly to your recipient\u2019s bank account is usually the cheapest option, while transfers to a mobile wallet typically come with low or no fees. Our testing revealed that other transfer types, such as cask pickup transfers or sending money to someone\u2019s debit card, tend to attract higher fees.<\/p>

But fees do vary among money transfer apps, so compare fees across different providers for the type of transfer you want to send.<\/p>

Exchange rates and fees: How do they work?<\/h3>

There are two costs you need to be aware of when you send an international money transfer: the exchange rate markup and the transfer fee.<\/p>