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Money transfers with no online transfer fees

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Yes, it is possible to send money overseas for free.

The increasingly competitive online money transfer space is a buyer’s market. There’s a handful of providers that offer free money transfers. Some services give you your first transfer for free, while other providers don’t charge a commission at all. You can even find promo codes to make international transfers cheaper. Expensive banks are no longer the only option to transfer money overseas.

Why we like: WorldRemit

WorldRemit - Hero

Your first transfer is free with the code FINDER.

  • The first transfer is free
  • 30,000+ partner agent locations worldwide
  • No minimum transfer amount

Why we like: WorldRemit

Send money to 140+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.

  • Use promo code FINDER to send your first transfer with no fee.
  • Easy to use with round-the-clock help.
  • Get cash to family and friends in minutes.

Compare money transfer services

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 1 - 2 days USD 0.00 19.028 MXN 95,138 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 1 1 - 2 days USD 50.00 19.104 MXN
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 3.99 19.024 MXN 95,043 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 18.913 MXN 94,565 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 1,000 1 day USD 0.00 18.913 MXN 94,565 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
USD 5,000 1 day USD 0.00 18.913 MXN 94,565 Venstar will support you through the entire process of your international transactions, from start to finish. Go to site Show details

Compare up to 4 providers

What’s a free international money transfer?

A free money transfer is a no commission remittance. Remittance is a technical term for the delivery of money at a distance. Free money transfer remittance services like WorldRemit and OFX either don’t charge an upfront fee at all, give you your first transfer for free or offer free transfers for transactions of a certain size, like sending more than $10,000.

If you’re looking for $0 fees, think twice about using your bank — most banks charger higher fees and offer poorer exchange rates than money transfer providers.

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Do free international money transfers actually exist?

It is possible to find a free money transfer company, but these companies don’t offer something for nothing. The companies that offer a “free” service — that is, they don’t charge a commission or a transfer fee — make their money from the exchange rate spread: the difference between their foreign currency buy and sell rates, and currency conversion.

Even though you’re not paying an upfront fee, you’ll pay slightly more to buy foreign currency because of a lower exchange rate. The companies that charge a transfer fee tend offer better exchange rates, and some providers offer first-transfer-free promotional offers for new customers as well as free transfers when you’re sending a large amount of money.

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International money transfer services that currently offer free money transfers

  • OFX. OFX recently made $0 fees a standard offering.
  • WorldRemit. WorldRemit gives you your first money transfer for free when you create an account. WorldRemit also gives you more ways to send money overseas; for example, you can top up credit on a mobile phone in India or arrange for home cash delivery in the Philippines.
  • Hawk FX. Hawk FX charges no fee, but its minimum transfer amount is $10,000.
  • Wyre. Wyre is a partner of finder.com and offering readers $0 fees to countries like Brazil and China.
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Are there any negatives to sending money overseas for free?

A provider that offers no transfer fee might make up for it with a poor exchange rate, thus negating the savings or making the transfer more expensive than a provider that charges a small fee. See the example below where we compare two transfer companies when sending $1,000 to Egypt:

Company 1Company 2
Rate of exchange$1.00 USD = $18.378 EGP$1.00 USD = $18.79 EGP
Amount received$18,378 EGP$18,777 EGP

As you can see, although Company 1 doesn’t charge a transfer fee, Company 2’s superior exchange rate provides a greater savings.
Cheapest ways to send money overseas

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Where can I find promo codes for a free money transfer?

Finder.com is an online comparison service. We compare products side by side so you can find the right financial product for you. We also offer promotional discount codes for some of the most popular services, including WorldRemit and Ria.

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