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.
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.