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Best international money transfer app

It's easy to send money overseas from Hong Kong with a money transfer app.

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Wise (TransferWise)

Wise (TransferWise) logo
  • 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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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 some of the most popular money transfer apps in Hong Kong and outlined their pros and cons to help you find the best international money transfer app for you.

At a glance: The best international money transfer apps of 2022:

Wise (Transferwise)

Wise, a popular money transfer app, aims to make the exchange process as cheap and transparent as possible. With Wise, you can send money to friends and family in over 30 countries around the world. Wise is best known for its easy registration process, competitive rates, high daily sending limits of 10,000,000 HKD and flexible payment options. When you open a Wise account in Hong Kong, you’ll have access to a multi-currency account which allows you to convert and send currencies to other Wise accounts or bank accounts abroad. The money transfer app also lets you set up repeat payments for ongoing transfers. One downside to note, however, is that there is no cash pick-up option for transfers made with Wise.

Screenshot of the Wise app

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
Data from 30 December, 2021Apple StoreGoogle Play
Rating4.34.7Average rating: 90%
# of reviews154,48623,034Total reviews: 177,520

Calculate your transfer with Wise

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 10 1 - 2 days HKD 14.00 0.128 USD
127
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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TorFX

TorFX lets you send money in over 40 currencies and is a leading money transfer app. 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. The money transfer app is best known for handling large transfers and the strong customer service provided by its personal account managers. You can even schedule recurring transfers for large amounts with TorFX. TorFX also offers a price-match guarantee, where the company aims to beat other rates quoted to you on the market. Besides standard money transfers, you can set up more complex transfers with TorFX — including spot contracts, forward contracts and limit orders.

Screenshot of the TorFX app

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
  • Forex tools like limit and stop-loss orders

Cons

  • Doesn’t offer cash pickup
  • Doesn’t accept cash or cheque payments
  • App only available in English
Data from 30 December, 2021Apple StoreGoogle Play
Rating4.23.8Average rating: 80%
# of reviews60222Total reviews: 282

Calculate your transfer with TorFX

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 2,000 1 day HKD 0.00 0.127 USD
1,265
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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OFX

With OFX’s app, you can make fee-free transfers from Hong Kong to over 195 countries worldwide. OFX is best known for its competitive rates on large transfers and offers two transfer options: OFX Rapid and OFX Risk Management. The first option is better for users who need to send money quickly, while the second is better for more cost-effective transfers. The money transfer app also has a range of extra features, like forex tools, recurring transactions, and rate alerts that can help you take advantage of the best times to transfer. While transactions are free, OFX takes a small margin on currency exchange rates. Do note that OFX does not offer a cash pick-up option. It also only allows transfers made by bank transfer, not cash or credit card.

Screenshot of the OFX app

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
Data from 30 December, 2021Apple StoreGoogle Play
Rating4.84.4Average rating: 92%
# of reviews1,6363,029Total reviews: 4,665

Calculate your transfer with OFX

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 100 1 day HKD 15.00 0.127 USD
125
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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WorldRemit

The WorldRemit money transfer app lets you send money to more than 150 countries around the world for bank deposits, mobile airtime top-up and even cash pickup. With no minimum transfer amount, WorldRemit lets you take advantage of competitive exchange rates when making your transaction. WorldRemit is best known for its quick transfers made through flexible options. Its worldwide network accepts transfers using a variety of methods including bank transfer, cash pick-up, door-to-door delivery and even services like Alipay. Because of its maximum daily limits and lack of forex tools, WorldRemit tends to be more popular for smaller, direct transfers.

Screenshot of the WorldRemit app

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
Data from 30 December, 2021Apple StoreGoogle Play
Rating4.84.4Average rating: 92%
# of reviews124,643108,883Total reviews: 233,526

Calculate your transfer with WorldRemit

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Within an hour HKD 2.00 0.128 USD
128
使用優惠代碼FREE,你的首次匯款即可享免手續費。條款及條件適用。Use promo code FREE to send your first transfer with no fee. T&Cs apply.
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Western Union

As the world’s largest money transfer company, Western Union is a widely recognised brand. Its international money transfer 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. Western Union is best known for its fast and flexible money transfers, which can sometimes be received in just minutes. The money transfer service provider is popular amongst users who want flexible transfer options or wish to send transfers to recipients without a bank account. While Western Union offers safe and flexible transfers in Hong Kong, its fees can be complex to understand across different transfer types. It also tends to offer weaker rates for cash transfers than other competitors on the market.

Screenshot of the Western Union app

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
  • Quick and flexible transfers

Cons

  • Less competitive exchange rates
  • Transfer fees to some countries can be significant
Data from 30 December, 2021Apple StoreGoogle Play
Rating4.84.5Average rating: 93%
# of reviews471,917225,807Total reviews: 697,724

Calculate your transfer with Western Union

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$1 Same day HKD 0.00 0.128 USD
128
可匯款至全球超過200個國家. Western Union sends money online to friends and family in 200+ countries around the world. Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How can I compare money transfer services?

A key factor in choosing the best international money transfer app is the service behind it. Compare these features before making your decision.

exchange rates icon

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, money transfer apps 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.

Money transfer fees icon

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.

Money transfer speed icon

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 money transfer apps take anywhere between one to four days to deliver the money at a much lower fee.

Bottom Line

You can get more value for your money by comparing both the providers themselves and their apps. Make sure to check with the money transfer app regarding the currency you want to send since fees and regulations can change depending on the country. This way, you’ll have all the information you need to find the best international money transfer app for you.

Picture: Shutterstock

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