Money transfers with $0 online transfer fees | finder.com
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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.

TransferWise

Our pick: TransferWise

When you need to send money, benefit from competitive mid-market exchange rates and straightforward fees with TransferWise.

  • Fair service fees and mid-market rates — a major market differentiator.
  • Next-day delivery to your loved ones and businesses.
  • Trusted the world over, with five-star ratings on Trustpilot.

    Compare money transfer services

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    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 0 3 - 5 days USD 0.00 18.908 MXN 94,542 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
    USD 1 1 - 2 days USD 7.00 18.966 MXN
    94,696
    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 18.927 MXN 94,562 Use promo code FINDER to send your first transfer with no fee.
    Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
    Go to site Show details
    USD 1,000 1 day USD 0.00 18.889 MXN 94,446 Exclusive exchange rate discounts
    No-maximum limit transfers with competitive exchange rates for 100+ currencies.
    Go to site Show details
    GBP 1,000 1 - 2 days USD 0.00 18.908 MXN 94,542 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 50 1 - 2 days USD 25.00 18.889 MXN 93,974 Simple, zero-margin exchange rates, plus earn loyalty points on sign up, referral and every transaction. 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
    Fees$0$13.00
    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.

    Frequently asked questions

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    US International Money Transfers Offers

    Important Information*
    XE Money Transfer

    Transfer up to $500,000 with no minimums and no fees.

    WorldRemit International Money Transfers

    Use promo code FINDER to send your first transfer with no fee.
    Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

    TransferWise

    Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

    CurrencyTransfer

    Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
    For larger transfers, get no transaction fees and no maximum send limits.

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    US International Money Transfers Offers

    Important Information*
    XE Money Transfer

    Transfer up to $500,000 with no minimums and no fees.

    WorldRemit International Money Transfers

    Use promo code FINDER to send your first transfer with no fee.
    Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

    TransferWise

    Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

    CurrencyTransfer

    Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
    For larger transfers, get no transaction fees and no maximum send limits.

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