Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Same currency international money transfers
Exchange rates are not a factor when sending a same currency international money transfer, but be aware of fees.
Guides
Exchange Rates
Managing Money In A Crisis
Weekly tips sent straight to your inbox
International money transfers often involve a conversion between currencies, but that doesn’t always have to be the case. Oftentimes the same currency is accepted in many different countries, such as the euro in the EU and the US dollar in Panama and Ecuador. Learn ways to send same currency international transfers and explore your options below.
Compare services to send a same-currency transfer
Use our comparison table to check what your same currency transfer could cost by entering the amount you want to send and clicking Calculate. Same currency support varies by destination country, so be sure to double check the provider’s website before sending.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What are the pros and cons of same currency transfers?
Pros
- Forget exchange rates. When you send the same currency overseas you don’t have to worry about hunting for the best exchange rate and how much money you will “lose” in the currency conversion process.
- Lots of choices. There are heaps of trusted and reputable money transfer providers who can send a same currency transfer for you.
- Hassle-free. While sending money overseas might sound like a complicated prospect, it’s actually quite quick and easy to do online, without having to leave your home.
Cons
- Fees apply. You’ll need to pay a fee in the vast majority of cases when sending money overseas, so searching for a provider with an affordable fee structure is a good idea.
- Restricted country and currency support. Because of the popularity of various currencies, some will have stronger global support than others. For instance, you’ll be able to send US dollars to far more countries than you can easily send Mexican pesos.
How does a same currency transfer work?
Same currency transfers, like international transfers, rely on using a service to move money between you and your recipient. This service could be a money transfer service, an international wallet, a bank or something similar. When sending same currency international transfers you don’t have to worry about exchange rates, but you still need to be aware of potential fees. The best services to use will vary depending on whether you are sending a domestic or international same currency transfer:
Domestic same currency money transfers
There are very few times when you should be paying fees to send money domestically in the United States. If the person you are sending to does not have a bank account or would prefer to pick up cash, you’ll have to rely on a money transfer service that may charge a fee. Otherwise use one of the following free options to transfer money domestically:
- Google Pay
- Cash App
- Venmo
- Apple Pay
- Facebook Messenger
- Zelle
Learn more about these services and more by reading our guide on sending money domestically.
International same currency money transfers
Sending same currency money transfers internationally is a bit trickier than sending them domestically. Because most money transfer companies make money both on fees and exchange rates, there is little incentive for them to offer same currency transfers between countries. Some options that exist for sending international asme currency money transfers are:
- TransferWise Borderless Account – Learn more about how to send and receive in the same currency by reading our review.
- WorldRemit Wallet – Use the WorldRemit Wallet to store and send a wide range of currencies, learn more about it in our WorldRemit review.
- PayPal – PayPal offers international transfers in dozens of currencies, learn about fees and limits in our PayPal review.
USD to USD international transfers
When sending money abroad, there are more than a handful of countries that officially accept the USD as legal tender. When sending money to these countries, money transfer services should typically allow you to select USD as a sending option:
- Puerto Rico – Learn how to send money to Puerto Rico.
- Ecuador – Learn how to send money to Ecuador.
- El Salvador – Learn how to send money to El Salvador.
- Zimbabwe – Learn how to send money to Zimbabwe.
- Timor-Leste – Learn how to send money to Timor-Leste.
- American Samoa – Learn how to send money to American Samoa.
Services like TransferWise will allow you to transfer US dollars to many other countries, not just those that accept the US dollar as legal tender. Read our review to see a full list of supported countries, typical fees and to compare TransferWise against competitors.
What other ways can I send same currency international transfers
Although not the most convenient, there are other ways to send same currency international transfers.
- Banks
Banks may seem like the most convenient option, but there are many fees and roadblocks you have to watch out for. If you are wiring money internationally, expect both an outgoing wire fee from your bank and an incoming wire fee from your recipients bank. In addition to this, many banks will force you to convert currency if the destination account doesn’t support the currency you are transferring. To avoid these fees, consider using a bank like HSBC that supports international accounts in a wide array of currencies. - Send cash
Absolutely the least recommended option in this entire article, sending cash is not only risky but may be illegal depending on how much you are sending. Instead of sending cash, considering sending a money order or check — though these are hardly the fastest or most secure options available to you.
Bottom line
Sending same currency transfers is a great way to pay friends back, get money to your family internationally, help make an international move smoother and more. Be sure to explore your options when sending same currency transfers, including the various money transfer companies that support such transfers in addition to international, multicurrency bank accounts. Head over to our international money transfer guide to learn more about money transfers and what you can do with them.
Read more on this topic
-
US remittance statistics We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
-
Best ways to send money online Navigate the world of sending money domestically and internationally with our hand-picked list of popular services.
-
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
-
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
-
TransferWise account for e-commerce sellers review Receive payments in five local currencies and convert them to dozens of others using one account.
-
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
-
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
-
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
-
How to send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
-
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Ask an Expert