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Cheapest ways to send money internationally
Need to send money overseas? Compare different international money transfer services to find the best one for you.
Without a doubt, some money transfer providers are cheaper than others. We used our 14+ years of money sending experience, combined with data from the World Bank Group, to determine the cheapest ways to send money internationally. Spoiler alert: It’s not your bank.
3 Cheapest ways to send money internationally
The cost to send money varies based on sending amount, destination and more. We compared sending $5,000 from the US to Mexico and found that the three cheapest ways to send money were:
1. Digital money transfers
These specialists offer more affordable transfers than banks, allowing you to manage your transactions from home. In our experience, digital money transfer services are typically the cheapest way to send money internationally.
Costs can vary between money transfer services. Factors like the type of transfer, destination country and the amount being sent can affect your total cost. Therefore it’s important to compare providers to make sure you are getting the best deal.
Cheapest digital transfer services:
2. Send money for cash pickup
Cheapest cash transfer services:
3. PayPal transfers
PayPal offers transfers to more than 100 countries and supports multiple currencies. Its exchange rates are often better than those you’ll get from a bank but not quite as strong as rates offered by money transfer companies. PayPal calculates its transfer fee as a percentage of the amount you’re sending — meaning it’s often better for sending smaller amounts of money.
Learn about PayPal’s fees and rates in our PayPal review.
Why are money transfer providers the cheapest way to send money abroad?
Online money transfer services are often the cheapest way to send money internationally. They typically translate to lower fees and stronger exchange rates than your bank.
Those that operate digitally have lower overheads than your traditional brick-and-mortar services, which means they can afford to charge lower fees. Additionally, there are lots of providers to choose from and this can help drive costs lower.
Compare some of the cheapest ways to send money internationally
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you’re ready to send.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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