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The increasingly competitive online money transfer space is a buyer’s market that offers lower fees, stronger rates and more flexibility than your local bank. Add to that the handful of providers running special offers or promo codes for free transfers or no commission, and you’ve got one big incentive to try out a digital money specialist.

Do free international money transfers actually exist?

Yes. But money transfer specialists aren’t in the business of offering something for nothing.

Companies that advertise a “free” service — such as no commission or transfer fees — make up for it by applying a “spread” or margin on the mid-market rate, or the rate financial institutions use when trading currency among themselves. This margin varies by country and currency but can be anywhere from 0.1% to 10%, depending on the company and where you’re sending to. The cost of the margin markup can outweighs the “free” transfer, which makes for an unpleasant surprising.

Charging a transfer fee can be a way for transfer companies to offer stronger exchange rates, which benefit large transfers. With research, you might find a company that waives transfer fees for new customers.

Ways to get a free money transfer

With so many companies angling for a piece of the remittance pie, the best deal may involve a promotional push for new customers or a promo code for waived fees or discounts off your total.

Money transfer companies make you pay through fees or mid-market markups — and sometimes both. To transfer money for free:

  • Use a promo code. A promotional code for a company without a markup on the mid-market rate will allow you to transfer for free. A list of our current coupons and promotions can be found below.
  • Transfer with a company that doesn’t charge fees. Some money transfer companies forgo flat fees by adding a small percentage on top of the exchange rate. International money transfer services offering free transfers include:

    Compare money transfer services

    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.
    Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
    24 hours

    View details
    OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
    Dunbridge Financial
    Dunbridge Financial
    24 hours

    View details
    Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
    24 hours
    SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

    View details
    Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
    CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
    Within minutes

    View details
    XE has fast transfers with low fees and a range of foreign currency tools.
    Within an hour
    From $1.99

    View details
    New customers send USD 20 to Lebanon and use code ADD10 for a USD 10 discount. Valid till 7 November 2021. T&Cs apply.
    WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
    Wise (TransferWise)
    Within an hour
    From $2.26

    View details
    Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
    Within an hour

    View details
    Exclusive: Use code GET60 to save 30 USD on each transaction over 200 USD. Valid for the first two transactions and till 30 November 2021. T&Cs apply.
    Instarem offers zero transfer fees on all transfers.
    Within minutes
    From $0
    SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

    View details
    Special offers like free transfers and better exchange rates available for new customers.
    Remitly has quick, affordable transfers around the world, with both express and economy options.
    Western Union
    Within an hour
    From $0

    View details
    Western Union sends money online to friends and family in 200+ countries around the world.
    Within an hour
    From $0

    View details
    MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.

    Compare up to 4 providers

    Back to top

    Let’s crunch the numbers: The cost of a free transfer

    To put this into perspective, let’s see what a free transfer actually looks like when sending $6,000 USD to MXN. Compared using live exchange rates from Jan 28, 2020.

    $0 fee transferStrongest exchange rateLow fee, strong exchange rate
    Exchange rate1 USD = 18.737 MXN1 USD = 18.831 MXN1 USD = 18.755 MXN
    Transfer speed1-2 days1-2 daysMinutes
    Amount receivedMXN112,419MXN111,854MXN112,457
    • $0 = worse exchange rate
    • Best exchange rate = higher fee
    • Small fee = best overall transfer

    Depending on the amount you are sending, it may be best to pay a small fee to secure a stronger exchange rate. Comparing a large amount of transfer options can be tricky unless you’re using a comparison table that compiles data based on your sending amount and destination.

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

    Many digital money specialists promote free money transfers through codes on their own sites. Or you can keep it simple by comparing your options through Finder and checking out our independent reviews for promo codes. You’ll find exclusive discounts with popular services like WorldRemit and Ria.


    Zero fees on your first THREE money transfers

    Send money with WorldRemit using the code '3FREE' and pay no fees on your first three money transfers

    Fee-free transfer for first-time users

    Available for transfers to the Philippines, Dominican Republic, El Salvador, Honduras, Nicaragua, Kenya and Peru.
    Code exclusive

    WorldRemit: First Transfer FREE

    You first transfer is free with WorldRemit when you use this coupon code. Send or pick up cash in the US or around the world.

    Better exchange rates for new customers

    Available for transfers to Mexico, Philippines, India, Colombia and Dominican Republic.

    Cheapest ways to send money overseas

    Bottom line

    With so many money transfer specialists in the market for your money — longtime mainstays and new digital names — customers both new and old can find promo codes and deals to waive fees on transfers worldwide. Weigh rates, fees and flexibility when comparing international money specialists.

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