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How to get the best exchange rate on international money transfers

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

International money transfers are ideal for sending money home to family overseas. They’re also an easy way to temporarily bail out friends who’ve run into trouble while on vacation. Even if you’re in a hurry, it pays to keep your eye out for the fairest exchange rate.

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 FREE.

  • 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

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        Ofx Logo

        Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

        With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

        • Buying property abroad
        • Emigrating
        • Regular overseas payments
        • Risk management
        • Forecasting
        Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
        World First Foreign Exchange
        USD 1,000 1 day USD 0.00 17.62 Online MXN 88,100 Exclusive offer: $0 transfer fee
        No-limit transfers with competitive exchange rates for 100+ currencies.
        Go to site View details
        TransferWise International Money Transfers
        USD 1 1 day USD 75.00 17.682 Online MXN
        Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site View details
        OFX International Money Transfers
        USD 150 1 day USD 0.00 17.611 Online, Bank Account to Bank Account MXN 88,055 Send safe, no-limit transfers with no fees and competitive exchange rates. Go to site View details
        HiFX International Money Transfers
        USD 50 2 days USD 5.00 17.602 Online MXN 87,923 Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000. Go to site View details
        Currencies Direct International Money Transfers
        USD 100 1 - 2 days USD 0.00 17.505 Online, Phone MXN 87,525 $0 transfer fees with rates at never more than a 2% markup. Go to site View details
        Do you send money often? Track this rate with tailored alerts direct to your inbox

        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.

        Transfer service study

        Say that you’re sending $1,000 to your child who’s studying in Germany. You’re going to want to find a way that results in the highest possible amount of euros to your student for your dollar.

        Comparing your options, you find two international transfer services that offer slightly different exchange rates.

        Transfer service ATransfer service B
        US dollars$1,000$1,000
        Exchange rate1 USD = 0.87 EUR1 USD = 0.89 EUR
        Total euros received870 EUR890 EUR

        While a difference of two cents in the exchange rates might not sound like a lot on the surface, going with transfer service B would put 20 extra euro in the pocket of your scholar.

        Get the best rate for your exchange

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

        Refreshing in: 60s | Thu, 24 Aug 08:38am GMT
        1 USD = 1.0000 1.2688 Inverse: 0.7881 1.2550 Inverse: 0.7968 0.847897 Inverse: 1.1794 6.6616 Inverse: 0.1501 0.78205 Inverse: 1.2787 64.078003 Inverse: 0.0156 17.6818 Inverse: 0.0566 51.020334 Inverse: 0.0196
        1 AUD = 0.7881 Inverse: 1.2688 1.0000 0.9891 Inverse: 1.0110 0.6683 Inverse: 1.4964 5.2503 Inverse: 0.1905 0.6164 Inverse: 1.6224 50.5028 Inverse: 0.0198 13.9358 Inverse: 0.0718 40.2115 Inverse: 0.0249
        1 EUR = 1.1794 Inverse: 0.8479 1.4964 Inverse: 0.6683 1.4801 Inverse: 0.6756 1.0000 7.8566 Inverse: 0.1273 0.92234 Inverse: 1.0842 75.572821 Inverse: 0.0132 20.8537 Inverse: 0.0480 60.1728 Inverse: 0.0166
        1 GBP = 1.2787 Inverse: 0.7821 1.6224 Inverse: 0.6164 1.6047 Inverse: 0.6232 1.0842 Inverse: 0.9223 8.5181 Inverse: 0.1174 1.0000 81.935979 Inverse: 0.0122 22.6096 Inverse: 0.0442 65.2393 Inverse: 0.0153


        Here are a few other 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.

        Back to top

        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, HiFX, 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
        Back to top

        Exchange rate comparison

        Compare your options to learn which offers the best rate for your transaction:

        USD = EUR0.925 EUR0.933 EUR0.913 EUR0.930 EUR
        USD = GBP0.767 GBP0.791 GBP0.791 GBP0.800 GBP
        USD = MXN20.934 MXN20.681 MXN20.868 MXN21.070 MXN
        USD = INR67.369 INR67.500 INR67.150 INR66.970 INR
        USD = CAN1.281 CAD1.316 CAD1.303 CAD1.310 CAD

        Rates accurate as of January 5, 2017.

        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


        Frequently asked questions

        Find a trusted and reputable provider by comparing the features, fees and exchange rates of your money transfer options.

        International transfer fees vary by transfer provider, your transfer method, where you’re sending your money, how much you’re sending and how you’re paying for it. They can range from a few dollars to $80 and higher.

        Unlike banks, which handle a wide range of financial products and services, money transfer companies concentrate their efforts solely on sending money overseas. They deal in large amounts and can pass the resulting savings to their customers.

        Most services will give you a tracking number or ID that you can use to check the status of your transfer. In many cases, your recipient will also receive one so they can check as well.

        Yes, in most cases you will need to sign up for an account before you can send a transfer. Most are free and allow for easier future transfers, should you need to send another.

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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?

          • Staff
            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

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        HiFX International Money Transfers

        Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

        WorldRemit International Money Transfers

        Use promo code FREE 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.