- Fair service fees and mid-market rates – a major market differentiator
- Next-day delivery for most currencies
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It can be enough trouble keeping up with bills at home without having to worry about managing them from abroad. Nevertheless, you need to pay your mortgage or rent wherever you happen to be, and utility bills and business expenses often can’t wait for you to return home. Or perhaps you simply want to help out loves ones abroad.
International money transfers aren’t complicated or expensive. And those better-known companies are no longer your only options. Newer digital providers are undercutting the competition on exchange rates, feeds and speeds — as well as making it easier than ever to get your money where it needs to go around the world.
Just as online payments are phasing out the need to write checks to pay your bills, more affordable online options for sending money overseas are rendering older methods unnecessary.
While you can still send a secure international check overseas to pay bills or help family, you’d need to pay a fee and be willing to wait for the check to arrive. Similarly, sending an international wire transfer with your bank is no longer the most convenient or affordable option. With a bank, you’ll typically pay fees of up to $35 to $40 and receive exchange rates that are anywhere from 2% to 5% or more above the mid-market rate.
Unlike your typical US bank, an independent money transfer provider specializes in one thing: safely moving your money from the US to countries around the world. This one focus means that they can offer more options — and stronger exchange rates — than a bank can.
While the best-known providers include Western Union and MoneyGram, the past decade has seen a rapid rise in specialist competitors.
Providers like OFX, TransferWise and WorldRemit allow you to send bank account transfers overseas, but with much stronger exchange rates and lower fees than you’d pay with your local bank. Not only that, but they’re also fast and secure.Back to top
With an expanding global economy, your needs for sending money overseas could include:
Use our interactive table to compare transfer fees, exchange rates and other details for making payments overseas with our money transfer partners.
With so many companies competing for your business, choosing the right one can be difficult. Before handing over your cash, compare:
When comparing fees, remember that companies with most advantageous exchange rates sometimes charge the highest fees.Back to top
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