International money transfers

Looking to make an international money transfer? Not sure whether you should send a bank wire transfer, use an online money transfer app like Wise or Atlantic Money, or send cash through a service like Western Union? We’ve compared several international money transfer providers to find the best options. Here’s what you need to know.

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Finding it hard to cut through the noise? We can help. We find the most useful comparison features to be fees, exchange rates and transfer speed, and you can use our comparison table to compare money transfer providers on those features. Click Go to site to send money with the transfer provider of your choice.

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Name	Product	Fastest Transfer Speed	Fees (Pay by Bank Transfer)	Offer
Wise (TransferWise) Wise (TransferWise)		24 hours	From 0.41%		Go to site View details	Compare	loading Fetching your data...
OFFER CurrencyFair CurrencyFair	OFFER	Within minutes	From €3	New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.	Go to site View details	Compare	loading Fetching your data...
XE Money Transfers XE Money Transfers		Within minutes	From €0		Go to site View details	Compare	loading Fetching your data...
Atlantic Money Atlantic Money		Within minutes	€3		Go to site View details	Compare	loading Fetching your data...
Currencies Direct Currencies Direct		2 days	€0		Go to site View details	Compare	loading Fetching your data...
Revolut Revolut		Within minutes	From 0.3%		Go to site View details	Compare	loading Fetching your data...
WorldRemit WorldRemit		Within minutes	From €0		Go to site View details	Compare	loading Fetching your data...
CurrencyTransfer CurrencyTransfer		24 hours	€0		Go to site View details	Compare	loading Fetching your data...
Skrill Skrill		417 days	€0		Go to site View details	Compare	loading Fetching your data...
TransferGo TransferGo		24 hours	From €0		Go to site View details	Compare	loading Fetching your data...
Remitly Remitly		Within an hour	From $2.99		Go to site View details	Compare	loading Fetching your data...

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We only list licenced services that are overseen by a government regulator.

Every service we compare has been assessed and reviewed by our editorial team.

What is an international money transfer?

An international money transfer is the process of sending money between people with financial accounts in different countries. Every day, millions of Euros are transferred between people and businesses all over the world.

Typically, you need to give a bank or money transfer service your recipient’s details and the money you want to send. The bank or transfer service then converts your funds to the currency in which it will be received and electronically sends the payment to your recipient.

Depending on what money transfer service, you may be able to send funds online, via a mobile app, over the phone or in person.

How can I pay for my money transfer?

Not all money transfer services accept the same payment methods but you may be able to pay by the following:

• Bank transfer (requires your bank account details)
• Debit card
• Credit card
• Cash

If you want to pay in cash, you’ll need to visit a bank branch or money transfer agent in person. If you transfer funds online or via a mobile app, you can only pay electronically by card or bank transfer.

How can my recipient receive the money?

Again, receiving options vary between transfer services but your recipient may be able to receive funds the following ways:

• Bank account
• Mobile wallet
• Cash pickup at a bank or money transfer location
• Airtime top-up

What are the benefits of using an online money transfer service?

While it might be easy to assume that big banks are the best way to go when sending an international money transfer, there are many reasons why an online money transfer service might be just as good if not better:

• Cost savings. Online transfer services often translate to lower fees and stronger exchange rates than Irish banks.
• Fast. Online money transfer companies often use the latest financial technology to get your money where it needs to go fast.
• Easy. Mobile apps and online platforms make it easy to send money anytime from anywhere. Additionally, many money transfer services offer features that let you set up recurring transfers, making it easy to pay bills, send regular transfers, manage international business payments and more.
• Security. Similar to banks, online transfer services usually follow industry-standard security practices to protect your money and personal information. This often includes encrypted data transfer, SSL certificates, two-factor authentication, security questions/answers and personal identity verification.

Compare money transfer services

How do I send money overseas?

There are multiple options to consider when sending money overseas:

How to send money using an online money transfer service

Online money transfer services are increasingly competitive with big banks, in many cases offering more flexible options and lower fees. Sending an international money transfer through an online service is simple:

1. Compare services, and select one that suits your needs.
2. Create an account by entering personal details like your name, email, address and phone number.
3. You may need to submit a scanned copy of your personal ID (i.e. passport photo page or driver’s licence) to qualify for higher transfer limits.
4. Link your bank account, debit card or credit card to your newly-created account, so you can pay for transfers. Alternatively, you may need to transfer funds from your bank account.

Most of the time, you can access your account immediately after submitting all the required information. For some services (particularly transfer services for businesses), there may be a delay while your information is reviewed and a transfer specialist is assigned to your account.

How to send money through a bank

Bank transfers have long been regarded as reliable and safe. The steps for sending an international money transfer through your bank are generally as follows:

1. Log into your online banking portal.
2. Navigate to the international money transfers section of your account. It’s usually a good idea to check your bank’s exchange rates before sending money.
3. Typically, you need the address and SWIFT code of your recipient’s bank and their account information. SWIFT codes are used internationally to identify banks.

To send a bank wire transfer or money order, you need to visit your bank in person. You may also be able to get money orders at your local post office.

What do I need to send and receive money abroad?

Make sure you have the following to hand when sending an international money transfer.

• Your personal details. Name, phone number, and government-issued identification like a driver’s licence or passport. Additional details may be required for security purposes, particularly for very large transfers.
• Your recipient’s personal details. Name, phone number and address.
• Your recipient’s bank information. Bank name, SWIFT code and your recipient’s account number and sort code.
• Payment. Check beforehand what types of payment methods are acceptable. For example, not all money transfer services accept credit cards.

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How much does it cost to transfer money internationally?

The cost of sending an international money transfer varies between service providers. Factors like the type of transfer, destination country and amount being sent can affect your total cost.

Generally, banks and money transfers services make money from international transfers in two ways:

1. Transfer fee. This is typically a flat fee or a percentage of the transfer amount.
2. Exchange rate margin. Most banks and money transfer services make a profit by taking a fee worth a small percentage of the mid-market rate (the “true” exchange rate between two currencies). This fee is called a “markup.” To save money, look for services that have as small a markup as possible.

Transfer for cash pickup can cost more than transfers to a bank account. Some companies charge higher fees for large transfers, while others will actually slash fees for large transfers.

Companies that offer fee-free transfers may make up for it with a poor exchange rate. This is why it’s important to look at the total cost of your transfer, not just the transfer fee or exchange rate.

• Glossary of money transfer terms

  Account number. A unique string of numbers used to identify a single bank account.

  “Buy” rate. The amount of currency a bank or financial institution pays to get (or “buy”) a foreign currency. For example, if you’re exchanging EUR for USD and the rate is 1.05, then the bank will pay 1.05 US dollars to buy each euro you have.

  Currency. A government-recognised form of money used for buying and selling. Can be digital or physical in the form of bank notes and coins.

  Currency pair. Any 2 currencies paired for the purpose of comparing how much each currency is worth relative to the other.

  Domestic money transfer. Money transferred within your country of residence.

  Exchange rate. The value of one currency when exchanged for another currency. For example, if 1 EUR = 1.05 USD, then the USD to EUR exchange rate is 0.95.

  Fees. Money paid for services. In the context of money transfers, this could include transfer fees, currency conversion fees, service fees, wire transfer fees and more. Not all money transfer services charge the same fees, and some may even waive specific fees under certain circumstances.

  Forex. Short for “foreign exchange.”

  IBAN. Short for “International Bank Account Number.” An IBAN—which can be up to 34 alphanumeric characters, but is usually between 8 and 11 characters—identifies a specific bank account for international money transfers. Countries may have different standards on what an IBAN should look like. Ireland uses SWIFT codes

  Intermediary bank. A “middleman” bank through which money passes when transferring between 2 financial institutions. Intermediary banks may take a small fee from the funds being transferred. The fee charged by the bank or money transfer service you use to send funds does not include intermediary bank fees.

  International money transfer. Money transferred from the country in which you live to another country.

  Margin (on exchange rates). The exchange rate offered by banks and money transfer services is lower than the mid-market rate by a small percentage. This is known as a “margin” on the exchange rate. When converting your funds, banks and money transfer services pocket this percentage as a fee to make a profit.

  Mid-market rate. The “true” exchange rate between two currencies, or the mid-point between the buy and sell rates for a currency (relative to another currency). The mid-market rate updates every 60 seconds during trading hours and is not usually available to customers. However providers such as Wise do offer the mid-market rate to customers.

  Mobile transfer. A money transfer conducted on a smartphone using a mobile app owned by a bank or money transfer service.

  Mobile wallet. Also known as a digital wallet or e-wallet, a mobile wallet is a digital application that lets users store and exchange currency electronically. Popular mobile wallets include Google Pay, Apple Pay and PayPal.

  Recipient. The person receiving funds via money transfer, or the person to whom money is sent.

  Sort code A unique string of numbers used to identify a specific bank branch in Ireland. Sometimes called a national sort code or NSC.

  “Sell” rate. The amount of foreign currency a bank or financial institution asks for to give (or “sell”) another currency. For example, if you’re exchanging EUR for USD and the rate is 1.13, the bank will sell you 1 USD for every 0.88 euros you have.

  Sender. The person initiating a money transfer, or the person who is transferring money to someone else.

  SWIFT code (BIC code). Short for “Society for Worldwide Interbank Financial Telecommunication.” Also known as a bank identifier code (BIC). A SWIFT code is a string of 8-11 alphanumeric characters used to identify a specific bank for international money transfers.

  Wire transfer. A type of electronic funds transfer offered by major banks in which money is sent around the world through electronic networks operated by various banks and money transfer agencies. No physical cash is exchanged. Transfers can take up to several business days to settle.

Tips to save money on your international transfer

Looking for low fees and strong exchange rates isn’t the only way to save on your next international money transfer besides. The following tips can also help keep your costs down:

• Use a service that offers zero markup the exchange rate. The mid-market rate is the “true” exchange rate between two currencies. While most transfer services add a margin on the mid-market rate to make money, some don’t. Instead, these services prefer to make money through transfer fees and possibly other charges. Depending on the type of transfer, it may work in your favour to use such a service.
• Send larger transfers. Some services offer discounted or waived transfer fees if you send at, or above, a minimum amount.
• Use forward contracts and limit orders. A forward contract lets you lock in a favourable exchange rate for future transfers. This means you’ll avoid unpredictable movements in exchange rates. A limit order allows you to wait until a favourable exchange rate is found before locking in your transfer.
• Watch out for scams. Scams cost people millions of euros each year and continues to rise. It’s important to keep an eye out for the most common money transfer scams. It’s usually best to avoid sending money to anyone you don’t know personally.
• Pay attention to taxes and regulations. Every country regulates money transfers differently. Make sure your recipient is aware of any tax or reporting obligations that apply to your transfer.

Best international money transfer apps

Frequently asked questions

• What's the cheapest way to send money abroad?

  Usually, online money transfers directly to a bank account are less expensive than sending funds for cash pickup. However, fees and options vary between service providers, so the cheapest option depends on which service you choose and the type of transfer you want to send.

• How long does an international money transfer take?

  It depends on the service provider and transfer method you choose. In general, if you pay with a credit or debit card, your money will arrive fast — often within the day. Paying by bank transfer is a lot slower and could take up to 2-5 days to process. Check out our guide on factors that can affect your transfer to learn more.

• Can I transfer money internationally instantly?

  It's possible to send money within seconds up to an hour if you use services such as WorldRemit, MoneyGram or Western Union. Funds transferred electronically typically pass through a national clearinghouse and other intermediary financial networks before being released to your recipient. If you opt to send an international money transfer with an instant cash transfer, then this could be available for collection as cash within as little as 20 seconds.

• Are there minimum and maximum sending limits?

  Most transfer services impose minimum and maximum transfer amounts, but the exact amounts can vary. Check with your service provider to find out what limits apply to your transfer. Note that some services may raise your maximum transfer amount if you provide additional documents to verify your identity and employment.

  You may be required by law to provide extra personal and/or employment information for large transfers. These laws are designed to track and prevent illegal financial activities such as fraud and terrorist financing.

• Are there free international money transfers?

  Ultimately, no. Banks and money transfer services must make a profit to continue providing international money transfer services. Some services offer zero transfer fees but charge a margin on the exchange rate. Others don't add a margin to the exchange rate, but you'll have to pay a transfer fee.

  You may be able to find special promotions designed to attract new customers like zero fees on your first transfer.

• Can I track my international money transfer?

  Yes. Money transfer services typically provide a tracking number once payment is received. You can use this number to check the status of your transfer online, by phone or by mobile app.

• How to make sure my international money transfer is safe?

  Money transfer services implement industry-standard measures for protecting your personal data and money, similar to banks. This can include data encryption, SSL certificates, multi-factor authentication and regular monitoring to prevent fraudulent activity.

Sending to a specific country? Learn more

• Nigeria

• UK

• France

• India

• Lithuania

• China

• The Philippines

• USA

View all countries