Halo Financial money transfers review February 2018 | finder.com

Review: Halo Financial international money transfers – February 2018

Send funds in most currencies with Halo Financial and enjoy low fees.

If you want an affordable way to securely send money overseas, Halo Financial can help. Halo Financial specializes in providing money transfer services for those who are emigrating, making a large international purchase, or just transferring money to a friend or family member.

One of Halo Financial’s notable features is its low fee structure. Sending over 5,000 EUR is free, while sending funds under 5,000 EUR costs a flat rate of just 15 EUR. Here are the details of Halo Financial’s money transfer service and how it compares with other providers:

Product NameHalo Financial International Money Transfers
Max. Transfer AmountNo limit
Transfer Methods
Transfer Options
Regular paymentsOne off paymentsMarket ordersForward contracts...
Transfer Speed
Minimum transfer time
1 - 2 days
Banking PartnerHalo Financial
Customer Service

Get money overseas in just a day or two

Halo Financial is a UK-based international money transfer provider. The company offers a range of transfer options, including regular payments and forward contracts. In addition to its low fee structure, Halo Financial has no maximum limits for transfers. So you can send money as often as you like in any amount that you want.

Halo Financial currently sends same-day transfers in four currencies: the British pound, US dollars, euros and Canadian dollars. If you’re looking to send a same-day transfer in a different currency, you may have to choose a different provider.

Be sure to check that your currency is available, because Halo Financial doesn’t offer transfers in every currency.

How much does Halo Financial cost?

Exchange rates

With lower overhead costs than a traditional bank and forex as its core business, Halo Financial is able to offer competitive exchange rates. You can find real-time exchange rates for select currencies on its website.

Also on its website is a currency converter calculator that shows you exchange rates for their other available currencies. Halo Financial’s exchange rates are typically near the mid-market rates. The closer your money transfer exchange rate is to the mid-market rate, the better deal you’re getting.


You’ll pay 15 EUR for transfers of up to 5,000 EUR and no fees for larger transfers.

What types of transfers does Halo Financial support?

Halo Financial offers a variety of transfer types:

  • One-off payments. Send money to someone one time.
  • Regular payments. Send money to someone monthly, bimonthly or quarterly.
  • Limit orders. Specify a more favorable exchange rate for a future transfer.
  • Spot loss orders. Protect yourself against an unfavorable exchange rate change.
  • Spot contracts. For quick “trade now, pay now” transactions.
  • Forward contracts. Lock in a current exchange rate and pay later.

Both you and your recipient will need a bank account to send or receive a transfer through Halo Financial.

Pros and cons


  • Flexible transfer options. Choose from a variety of payment options to suit your needs.
  • Many currencies available. Send money in most freely trading currencies.
  • Competitive exchange rates. Take advantage of near-mid-market rates to save more than you would through your local bank.


  • No cash transfer options. You and your recipient must have bank accounts.
  • Limited same-day transfers. Not all currencies can be sent on the day you initiate the transfer.
  • Based in the UK. Your phone provider may charge additional fees if you need to call Halo Financial’s customer service.

Sending $1,000 to Canada

Anne wants to send $1,000 to her partner in Canada. She’s heard that her bank in the US charges high fees for international money transfers and doesn’t offer competitive exchange rates. So she compares her bank to Halo Financial, an online money transfer provider.

Halo FinancialMajor US Bank
Exchange rate1 USD = 1.34 CAD1 USD = 1.28 CAD
Transfer fee16 USD35 USD
Transfer speed0–1 business days2–3 business days
Transfer optionsOnline, by phoneOnline
Total CAD received1,324 CAD1,245 CAD

In this example, Anne discovers that she’ll save 11 USD in transfer fees by using Halo Financial. On top of that, her partner will also receive an extra 60 CAD because Halo Financial offers such a competitive exchange rate.

How do I send money through Halo Financial?

To get started with Halo Financial, register for an account online. After you’re logged in, you can review the website to get an idea of the different transfers that are offered as well as the current exchange rates.

Halo Financial offers a simple five-step process for sending money.

  1. Open an account online or by phone. Registering for an account is free. Halo offers the option to mail in an application to its UK office, but this process takes much longer.
  2. Get a quote. Input the currencies you want to exchange to see the current exchange rate, and you can either decide to continue with your transaction or wait.
  3. Confirm your transfer. Once you accept the quote, follow the instructions on how to pay and the information you need for your recipient.
  4. Send your funds. You can send your funds through Halo Financial online or by check.
  5. Your recipient receives the funds. Enjoy same-day transfers for the British pound, US dollars, euros and Canadian dollars, and at least a business day for other currencies. You and your recipient will receive an email once the transfer is complete.

If you decide to make an international money transfer with Halo Financial, both you and the recipient will receive a confirmation email once the transaction is complete. Transfers are usually completed by the next business, while a few can even be completed the same day.

Bottom line

The next time you need to send money overseas, consider the many options Halo Financial offers. It’s also a good idea to compare Halo Financial’s services to other international money transfer providers to make sure you’re getting the best deal.

Benefits and drawbacks

Global servicesOpen to all countries (subject to government regulations)Bank-based transfers aren’t available in some countries
Transfer optionsVariety of transfer types to suit your needsNot all currencies available
Pickup optionsOnlineNo cash pickup — sender and recipient must have bank accounts
Competitive feesFree for transfers over 5,000 EUR15 EUR fee for transfers up to 5,000 EUR
Competitive exchange ratesNear mid-market rates with the ability to lock in favorable exchange rates and pay laterExchange rates fluctuate throughout the day
Minimum and maximum transfers
No maximum transfer amount250 EUR transfer minimum for Regular Currency Transfers
ConvenientOnline platform with simple five-step processUK-based office
Customer service options Online contact form, phonePhone is an international number, which may incur additional costs

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Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 18.476 Online, Phone, Bank Account to Bank Account MXN 92,382 Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.
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USD 1 3 - 5 days USD 75.00 18.541 Online MXN
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1,000 1 day - - Online, Phone, Bank Account to Bank Account Exclusive exchange rate discounts
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
USD 100 3 - 5 days USD 5.00 18.458 Online, Phone MXN 92,197 Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000. Go to site Show details
USD 1 Within an hour - - Online, Bank Account to Bank Account, Cash Transfer Use promo code FREE to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details

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