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Halo Financial review

Send funds in most currencies with Halo Financial and enjoy low fees.

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Get money overseas in just a day or two

Halo Financial is a UK-based international money transfer provider. The company offers a range of transfer options, including regular payments and forward contracts. In addition to its low fee structure, Halo Financial has no maximum limits for transfers. So you can send money as often as you like in any amount that you want.

Halo Financial currently sends same-day transfers in four currencies: the British pound, US dollars, euros and Canadian dollars. If you’re looking to send a same-day transfer in a different currency, you may have to choose a different provider.

Be sure to check that your currency is available because Halo Financial doesn’t offer transfers in every currency.

How much does Halo Financial cost?

You’ll pay 15 EUR for transfers of up to 5,000 EUR and no fees for larger transfers.

How are Halo Financial’s exchange rates?

With lower overhead costs than a traditional bank and forex as its core business, Halo Financial is able to offer competitive exchange rates. You can find real-time exchange rates for select currencies on its website.

Also on its website is a currency converter calculator that shows you exchange rates for their other available currencies. Halo Financial’s exchange rates are typically near the mid-market rates. The closer your money transfer exchange rate is to the mid-market rate, the better deal you’re getting.

What types of transfers does Halo Financial support?

Halo Financial offers a variety of transfer types:

  • One-off payments. Send money to someone one time.
  • Regular payments. Send money to someone monthly, bimonthly or quarterly.
  • Limit orders. Specify a more favorable exchange rate for a future transfer.
  • Spot loss orders. Protect yourself against an unfavorable exchange rate change.
  • Spot contracts. For quick “trade now, pay now” transactions.
  • Forward contracts. Lock in a current exchange rate and pay later.

Both you and your recipient will need a bank account to send or receive a transfer through Halo Financial.

There are no maximum limits for sending money through Halo Financial. Some services are subject to minimum transfer amounts — such as the Regular Transfer Service, which has a minimum requirement of 250 EUR (or currency equivalent).

Pros and cons

Pros

  • Flexible transfer options. Choose from a variety of payment options to suit your needs.
  • Many currencies available. Send money in most freely trading currencies.
  • Competitive exchange rates. Take advantage of near-mid-market rates to save more than you would through your local bank.

Cons

  • No cash transfer options. You and your recipient must have bank accounts.
  • Limited same-day transfers. Not all currencies can be sent on the day you initiate the transfer.
  • Based in the UK. Your phone provider may charge additional fees if you need to call Halo Financial’s customer service.

How does Halo Financial compare to other services?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
1 - 12 of 12
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Sending $1,000 to Canada

Anne wants to send $1,000 to her partner in Canada. She’s heard that her bank in the US charges high fees for international money transfers and doesn’t offer competitive exchange rates. So she compares her bank to Halo Financial, an online money transfer provider.

Halo FinancialMajor US Bank
Exchange rate1 USD = 1.33 CAD1 USD = 1.28 CAD
Transfer fee17 USD35 USD
Transfer speed0–1 business days2–3 business days
Transfer optionsOnline, by phoneOnline
Total CAD received1,314 CAD1,245 CAD

In this example, Anne discovers that she’ll save 18 USD in transfer fees by using Halo Financial. On top of that, her partner will also receive an extra 69 CAD because Halo Financial offers such a competitive exchange rate.

How do I send money through Halo Financial?

To get started with Halo Financial, register for an account online. After you’re logged in, you can review the website to get an idea of the different transfers that are offered as well as the current exchange rates.

Halo Financial offers a simple five-step process for sending money.

  1. Open an account online or by phone. Registering for an account is free. Halo offers the option to mail in an application to its UK office, but this process takes much longer.
  2. Get a quote. Input the currencies you want to exchange to see the current exchange rate, and you can either decide to continue with your transaction or wait.
  3. Confirm your transfer. Once you accept the quote, follow the instructions on how to pay and the information you need for your recipient.
  4. Send your funds. You can send your funds through Halo Financial online or by check.
  5. Your recipient receives the funds. Enjoy same-day transfers for the British pound, US dollars, euros and Canadian dollars, and at least a business day for other currencies. You and your recipient will receive an email once the transfer is complete.

If you decide to make an international money transfer with Halo Financial, both you and the recipient will receive a confirmation email once the transaction is complete. Transfers are usually completed by the next business, while a few can even be completed the same day.

Bottom line

The next time you need to send money overseas, consider the many options Halo Financial offers. It’s also a good idea to compare Halo Financial’s services to other international money transfer providers to make sure you’re getting the best deal.

Frequently asked questions