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If you want to send money internationally and have it be available in minutes, using an instant money transfer provider that offers cash pickup is the fastest option — but it’s not always the cheapest. Comparing instant transfer services can help you save on fees, leaving more cash in the hands of your recipient. Read on to discover if speed is really what you need or if another option might be best — for you and your wallet.
Not all instant transfers are created equally. And the best deal for you might depend on how much you need to send, your country’s currency and your recipient’s country. Compare top providers with our table to quickly discover which listed companies will give you the best deal.
The quickest way to send an international money transfer is with a cash transfer. These transfers allow you to send money that will then be available for collection as cash within as little as 10 minutes.
Some providers also offer the option of transferring funds directly to your recipient’s bank account, but these transactions take longer to complete.
Three of the largest cash transfer providers are:
Read more in our WorldRemit review.
For both online and in person, you can only send up to $10,000 to most countries — though limits can vary. Read our MoneyGram review for more information.
Read our Western Union review for information on transfers and rates.
Specific money transfer limits will vary by location and how you choose to send — agent locations work better for large transfers. The cash you send will be available for collection from your recipient’s nearest Western Union agent location within minutes.
It’s quick and easy to send an instant cash transfer to a friend or relative overseas. Although some providers allow you to pay for the transaction online, the most common transfer method is to pay cash in person at a transfer provider’s agent location.
The exact transfer process varies slightly from one company to the next but you will usually have to follow these steps:
There are a few advantages and disadvantages you should consider before choosing an instant cash transfer:
If you need to send money fast, cash is your best bet. But big fees can add up fast when you need to transfer money in a hurry — leaving you with less cash to send to your recipient. Don’t let your need for speed stop you from taking a minute to compare transfer providers to find the most competitive exchange rates and fees.
Another option for sending an international money transfer is to send the funds from your bank account. This is an easy and convenient way to send funds, but it’s not a good option if you want instant transfers.
Processing times for international bank transfers range between two and five business days depending on where you’re sending the money, so you’ll need to look elsewhere if time is of the essence.
Transfer speeds with these providers typically vary from one to five business days — but some offer instant transfers.
Specialist online transfer companies have given banks and cash transfer companies major competition, offering secure and affordable transactions with better exchange rates than their competitors.
Yes. Your recipient can pick up the cash at an agent location even if they don’t have a bank account. You can still send cash at an agent location without a bank account.
Yes, some credit card providers will consider it a cash advance if you use your credit card to send money, and any cash advance fees or interest rates on your card will apply.
No. Any fees will be taken directly out of the money you send — your recipient won’t have to pay anything at the agent location.
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