Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
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
Transfers where your recipient can opt for a cash pickup are one of the fastest ways to send money internationally. You can often pay online or at one of the thousands of agent locations worldwide.
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.
PayPal
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.
1 - 15 of 15
{"niche":"USFMT"}
Frequently asked questions
More guides on Finder
-
Dunbridge Financial international money transfers review
Sign up for an account and pay no fees to send quick and easy money transfers to multiple beneficiaries.
-
Sigue international money transfers review
Sigue offers speedy money transfers to 50+ countries, but you have to set up a transfer to see the transaction fees.
-
Boss Revolution money transfer review
Join Boss Revolution with an email address and phone number, and send money within minutes.
-
Usend review
Usend combines money transfers, bill pay and mobile phone reloading.
-
Paysend review
Paysend offers transfers to more than 70 countries through its app and online service.
-
Review: Boxypay international money transfers
Pairing international calls with money transfers makes Boxypay a unique choice.
-
How do international money orders work?
Using international money orders to send money overseas? Learn about better options.
-
What is a remittance address?
Sending a payment to a company but confused about which address to use? Learn about remittance addresses with our guide.
-
US remittance statistics
We’ve unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
-
TransferMate review
Learn about how TransferMate’s personal product works and what it can do for you.
Ask an Expert
