Forecast the best exchange rates Oct 17, 2018 |

How to get the best exchange rate on international money transfers

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Save on the exchange rate when you send funds overseas with a money transfer service.

Finding a great rate is essential to getting the best value for money — so that more of your cash ends up in your recipient’s pocket, rather than in the hands of the service handling your transaction.

Find the best provider for your transfer

Answer three quick questions and we’ll give you an instant recommendation for a money transfer service based on your needs.

Question 1 of 3

How much do you plan to send?

Question 2 of 3

Does your recipient have a bank account?

Question 3 of 3

When can they receive the money?

Based on your answers, check out:

WorldRemit International Money Transfers

WorldRemit International Money Transfers

Send money to 110+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.Your first transfer is free with the code FINDER.

  • Low upfront fees and exchange rates.
  • Easy to use with round-the-clock help.
  • Get cash to family and friends in minutes.
    TransferWise International Money Transfers

    TransferWise International Money Transfers

    When you need to send money overseas, benefit from competitive exchange rates and low transfer fees with TransferWise.

    • Fair service fees and mid-market rates — a major market differentiator.
    • Next-day delivery to your loved ones and businesses.
    • Trusted the world over, with five-star ratings on Trustpilot.
      World First Foreign Exchange

      World First International Money Transfers

      Special offer for readers
      Because World First is a trusted partner of, you can send your money transfer overseas for free.No fees: There is a $0 online transfer fee for all customers.

      • Enjoy competitive exchange rates.
      • Take advantage of spot contracts, forward contracts and limit orders.
      • Receive weekly updates on market exchange rates.


        Compare exchange rates of money transfer services

        I want to send


        Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
        $0 3 - 5 days USD 0.00 0.858 EUR 4,289 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
        USD 1,000 1 day USD 0.00 0.857 EUR 4,287 Exclusive offer: $0 transfer fee
        No-limit transfers with competitive exchange rates for 100+ currencies.
        Go to site Show details
        USD 1 Within an hour USD 3.99 0.857 EUR 4,283 Use promo code FINDER 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
        USD 1 3 - 5 days USD 50.00 0.865 EUR
        Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
        GBP 5,000 1 - 2 days USD 0.00 0.857 EUR 4,283 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details

        Compare up to 4 providers

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        How important is an exchange rate?

        An exchange rate shows the value of one currency for the purpose of converting it into another. Exchange rates fluctuate due to a wide range of factors that include interest rates, consumer confidence, inflation and political stability. For instance, when interest rates in a particular country rise, investors are able to achieve better returns in that country, increasing the demand for that country’s currency. This increase in demand then drives the value of that currency upward.

        Exchange rates affect our everyday lives in two ways. The first way is in the cost of everyday goods you buy. If these goods were purchased from an overseas retailer, or constructed using foreign materials, then the exchange rate for those goods or materials will obviously affect how much they cost you.

        The second way is much more direct: when you travel out of the US, send money overseas or purchase goods directly from other countries, exchange rates affect how much your US dollars are worth.

        How can I get the best exchange rate?

        For international money transfers, finding the best exchange rate is crucial.

        Here are a few tips:

        Know the mid-market rate for your currency
        Also called the interbank rate, this rate is the midpoint between worldwide supply and demand for that currency — and the rate banks and transfer services use when they trade among themselves. They make money by skewing exchange rates to make a profit. Use the mid-market rate as a baseline to compare against the rates they’re offering to learn who’s offering the better deal.

        Get quotes from many services
        Compare the quotes from a range of money transfer companies to see which offers a better deal. Many offer a quick and easy way to get a quote online, and it should include transfer fees to give you a better idea of how much your total transaction will cost.

        Don’t send a transfer through your bank
        Banks can offer secure and convenient international transfers, but they don’t offer value for your money. In fact, they offer some of the weakest exchange rates you’ll find when comparing money transfer providers.

        Peer-to-peer vs. bank

        Lauren needs to send $1,000 to her mother in the UK. To find the best deal, she compares the services offered by her bank with a peer-to-peer money transfer service like TransferWise.

        US bankPeer-to-peer transfer service
        Amount transferred$1,000$1,000
        Exchange rate1 USD = 0.52 GBP1 USD = 0.55 GBP
        Transfer fee
        Pounds received
        507 GBP548.90 GBP

        Considering the exchange rates and fees, Lauren’s mother would receive an extra £41.90 when transferred through a peer-to-peer service.

        Consider your transfer options
        If you’re sending recurring payments, look into setting up regular transfers to take advantage of fluctuating exchange rates and save more on fees over the long term. With a forward contract, you can lock in the current exchange rate for a transfer that will be placed days, weeks, or even months into the future. Another option is a limit order, which allows you to set up a transfer request that will only be executed when specified market conditions are met — such as the exchange rate reaching a certain level.

        Think about a multi-currency bank account
        If you need to send more regular transactions using commonly traded currencies, a multi-currency bank account could offer better exchange rates and lower fees. Also referred to as foreign currency accounts, these accounts allow you to hold funds in multiple currencies, meaning you can convert them into dollars at a time when the rate suits you.

        Send a larger amount
        Some providers encourage larger transfers by offering better exchange rates and lower — or even $0 — transfer fees. With a stronger exchange rate on $10,000, you could save a lot.

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        Exchange rate comparison

        We’ve gathered today’s best rates to inform your foreign exchange decisions.

        Refreshing in: 60s | Wed, 17 Oct 07:54am GMT
        1 USD = 1.0000 1.4014 Inverse: 0.7136 1.2957 Inverse: 0.7718 0.86517 Inverse: 1.1558 6.9244 Inverse: 0.1444 0.759974 Inverse: 1.3158 73.534879 Inverse: 0.0136 18.7872 Inverse: 0.0532 53.877 Inverse: 0.0186
        1 AUD = 0.7136 Inverse: 1.4014 1.0000 0.9245 Inverse: 1.0816 0.6174 Inverse: 1.6198 4.9410 Inverse: 0.2024 0.5423 Inverse: 1.8440 52.4715 Inverse: 0.0191 13.4058 Inverse: 0.0746 38.4445 Inverse: 0.0260
        1 EUR = 1.1558 Inverse: 0.8652 1.6198 Inverse: 0.6174 1.4976 Inverse: 0.6677 1.0000 8.0035 Inverse: 0.1249 0.87841 Inverse: 1.1384 84.994744 Inverse: 0.0118 21.7150 Inverse: 0.0461 62.2733 Inverse: 0.0161
        1 GBP = 1.3158 Inverse: 0.7600 1.8440 Inverse: 0.5423 1.7049 Inverse: 0.5865 1.1384 Inverse: 0.8784 9.1114 Inverse: 0.1098 1.0000 96.759768 Inverse: 0.0103 24.7208 Inverse: 0.0405 70.8932 Inverse: 0.0141

        As you can see, some companies offer better exchange rates for popular currencies. For example, WorldRemit’s rates for euros, pounds, and pesos are higher than the others. You’ll also want to take into account transfer fees and the exchange rate for your method of transfer — here, MoneyGram’s and Ria’s rates are for cash pickup only.


        Learn more


        What are some companies that send international money transfers?

        If you want the best exchange rates, you’ll typically get them from an online money transfer company. Providers like WorldRemit, Xoom, XE, and OFX offer higher exchange rates than you’ll find elsewhere. Some have other features to help you save money — for example, OFX charges $0 fees.

        Western Union, MoneyGram and Ria all offer money transfers that your recipient can collect as cash at hundreds of thousands of agent locations worldwide.

        If you’re sending money to one of the countries on its long list, PayPal might be an option. But with transfer fees calculated based on the amount you send, it’s better for small transfers only.

        Compare the fees among six providers:

        RiaMoneyGramWorld FirstWells FargoOFXXoom money transfer
        Fees$0$4.99 from a bank account; $10 from a credit or debit card$10$0 for transfers of $500 or more$5$0 for transfers of $1,000 or more
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        2 Responses

        1. Default Gravatar
          JuneMay 9, 2017

          What was the rate of CAD TO EURO on the 5th of may 2017?

          • finder Customer Care
            HaroldJuly 3, 2017Staff

            Hi June,

            Thank you for your inquiry.

            While we do not represent any company that we feature on our pages, we can offer you a general advice. You can check the current rates at the section “Compare exchange rates of money transfer services” for your review and comparison.

            I hope this information has helped.


        US International Money Transfers Offers

        Important Information*
        XE Money Transfer

        Transfer up to $500,000 with no minimums and no fees.

        WorldRemit International Money Transfers

        Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

        World First Foreign Exchange

        Exclusive offer: $0 transfer fee
        No-limit transfers with competitive exchange rates for 100+ currencies.

        TransferWise International Money Transfers

        Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

        Go to site