Best Transfer Rates
Best Transfer Rates

It’s a question everybody asks when it comes to international money transfers: How do you get the most out of your money?To obtain accurate details, we went through the same process as you would to send money. Through live transfers and quote generation, we kept track of claims, rates and fees to see how they aligned with the bottom line.

WINNERS

Click on logos to learn why these providers deserve the Best Transfer Rates Award

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Best User Experience

We completed (or failed at completing) live transfers by sending $50 (or the provider’s minimum, if more) to different countries with various providers. We noted all fees throughout the transactions and even accounted for hidden charges or ones you might incur from your bank.Because we know that country coverage and transfer amounts can affect rates, we considered transaction minimums, maximums and territory coverage in our scoring. We also collected price quotes from providers every four hours over the course of five days — that’s 2,304 generated quotes — and kept track of the mid-market rate to measure how much more providers were charging compared to what the money was worth at the time. This allowed us to figure out who makes the most money on your dime and who gives you the best deal.

Best Transfer Rates

MetricScaleTransferWiseWorldRemitXoomWestern UnionRIAMoneyGramWorld FirstPayPalCircleSmall World Money Transfer
Total remittance fee1.0 (5–5.24%) to 20.0 (<0.25%); 0.25% decrements per point16.011.06.00.09.06.08.06.020.011.0
Average hidden exchange rate fee0.0 (5% or more) to 10.0 (less than 0.5%)10.07.06.01.07.05.06.05.010.09.0
Live transfer success rate0.0 (0% Success); 2.0 (50% Success); 4.0 (100% Success)4.04.04.02.00.02.04.04.04.04.0
Doesn’t require sending money to provider (where you’re likely to incur bank fees)0.0 (No); 1.0 (Yes)0.01.01.01.01.01.00.01.01.01.0
Frequency exchange rates are updated0.0 (Daily); 3.0 (More than once a day)3.00.03.03.03.03.03.03.03.00.0
Maximum transfer per online transaction every 24 hours1.0 ($0–$1,999); 3.0 ($5,000+)3.02.02.03.02.02.03.03.01.03.0
Minimum transfer per transaction1.0 ($75+); 2.0 ($25–$75); 3.0 ($0–$24)3.03.03.03.03.03.01.03.03.03.0
Country and territory coverage1.0 (0–49); 3.0 (200+); 50 country increments per point2.02.02.02.01.01.02.01.01.02.0
Available in all 50 states0.0 (No); 3.0 (Yes)3.00.03.03.03.03.03.03.00.00.0
TOTALWinners scored more than 43.0 points44.030.030.018.029.026.030.029.043.033.0