TransferWise
- Fair service fees and mid-market rates – a major market differentiator
- Next-day delivery for most currencies
- Easy-to-use app
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Best international money transfer apps
It's easy to send money overseas with these mobile apps.
Many major money transfer specialists now offer mobile apps that let you send money globally from the convenience of your phone.
We’ve rounded up a selection of the most popular apps from major international money transfer providers, and outlined their pros and cons to help you make a decision about which one is right for you.
What are some of the best money transfer apps this year?
TransferWise
TransferWise aims to make the exchange process as cheap and transparent as possible. The app also lets you set up repeat payments for ongoing transfers.
Features in the app
Live exchange rates | Set rate alerts | Track your transfer |
| Available on iPhone | Available on Android | Available in other languages |
Pros
- No minimum transfer amount
- Uses the mid-market rate
- Transparent with fees
- Can pay with Apple Pay (although paying by card incurs higher fees)
Cons
- No cash pickup
- Not as many currencies as other providers
Calculate your transfer with TransferWise
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
TorFX
TorFX lets you send money in over 40 currencies and is one of the leading money transfer services. You can make personal or business transfers through TorFX and its app comes with a number of features such as transfer tracking and real-time exchange rates.
Features in the app
Live exchange rates | Set rate alerts | Track your transfer |
| Available on iPhone | Available on Android | Available in other languages |
Pros
- Competitive exchange rates
- No added fees
Cons
- Doesn’t offer cash pickup
- Doesn’t accept cash or cheque payments
- App only available in English
Calculate your transfer with TorFX
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
WorldFirst
WorldFirst requires a higher minimum for money transfers ($2,000), but offers competitive exchange rates. The app specialises in fast transfers and you can use its extra features, like the currency converter and market updates, without signing up.
Features in the app
Live exchange rates | Set rate alerts | Track your transfer |
| Available on iPhone | Available on Android | Available in other languages |
Pros
- No transaction fees
- Competitive exchange rates
- Same-day transfers for major currencies
- No maximum transfer limit
Cons
- Doesn’t allow small transfers
- Only accepts bank transfer
- No cash pickup
Calculate your transfer with WorldFirst
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
OFX
With OFX’s app, you can send money to over 190 countries worldwide. The app also has a range of extra features, like being able to set rate alerts that can help you take advantage of the best times to transfer.
Features in the app
Live exchange rates | Set rate alerts | Track your transfer |
| Available on iPhone | Available on Android | Available in other languages |
Pros
- Can monitor current and historical exchange rates
- Track your transfers
- Set rate alerts
- Free transactions
- Better exchange rates than banks
Cons
- Transfers must be above $250
- Doesn’t accept credit card or cash as payment
- App only available in English
Calculate your transfer with OFX
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
WorldRemit
The WorldRemit app lets you send money to more than 120 countries around the world. With no minimum transfer amount, WorldRemit lets you take advantage of competitive exchange rates when making your transaction.
Features in the app
Live exchange rates | Set rate alerts | Track your transfer |
| Available on iPhone | Available on Android | Available in other languages |
Pros
- Cash pickup available
- No minimum transfer
- Large range of destinations
- Competitive exchange rates
- Funds can be received through mobile money
Cons
- Limit on how much you can send
- Fees change depending on the amount you transfer
- Not as many extra features as other money transfer apps
Calculate your transfer with WorldRemit
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
Western Union
As the world’s largest money transfer company, Western Union is a widely recognised brand. The app offers money transfers to more than 200 countries around the world as well as a map of worldwide agent locations and directions for cash pickups.
Features in the app
Live exchange rates | Set rate alerts | Track your transfer |
| Available on iPhone | Available on Android | Available in other languages |
Pros
- Almost-instant transfers to cash pickup
- Can pay with bank transfer, cash, card or Apple Pay
- Transfers to many currencies
Cons
- Less competitive exchange rates
- Transfer fees to some countries can be significant
Calculate your transfer with Western Union
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
How can I compare money transfer services?
A key factor in choosing an app is the service behind it. Compare these features before making your decision.
Exchange rates
Different providers will offer you different exchange rates. It’s generally not the one you’ll see on Google or XE, otherwise known as the mid-market rate. To make a profit, transfer services add on a margin to the exchange rate to cover their own fees. So a provider may have no fees, but a bad exchange rate – this is why it’s important to compare.
Fees
Providers charge fees in either flat rates, percentages or not at all. These fees can also change depending on what you’re sending and how you’re sending it. For example, larger transfers are generally cheaper, while money transfers using your credit card can incur higher fees.
Speed
Sometimes you need to get money to someone fast. Some providers specialise in cash pickup, which means your recipient can pick up the money you send almost instantly. This does come at a higher price, however. If you’re not too fussed with timing, most providers take anywhere between one to four days to deliver the money at a much lower fee.
Next steps
You can get more value for your money by comparing both the providers themselves and their apps. Make sure to check with the provider regarding the currency you want to send since fees and regulations can change depending on the country.
Picture: Shutterstock
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