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What’s the cost of an online money transfer fee?

Here's what you'll pay to send cash online with several different companies.


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Sending an international money transfer can be expensive due to hidden costs and low exchange rates. Even a small overseas transfer could leave a large hole in your bank balance.

That’s why it’s important to make sure you’re aware of all the fees and charges that apply to an online money transfer before sending your money. By comparing transfer providers and the services they offer, you can find an affordable and convenient way to send your money overseas.

How much does an online transfer fee cost?

Online money transfer fees vary widely. For example, while companies like XE Money Transfer and OFX don’t charge any fees for online transfers, there are other companies that charge a fee in the form of a percentage or flat rate.

Here’s what some of our top providers charge for an online transfer fee.

Money transfer provider Online transfer fee starting at…
CurrencyFair $3
CurrencyTransfer $0
OFX $0
TransferWise 6%
WorldFirst $0
WorldRemit Varies according to transfer amount
XE Money Transfer $0

When you consider the fees a company charges as well as the exchange rates it offers, you’ll be able to determine how cost-effective it will be to transfer money with that particular provider.

What other factors affect the cost of sending money online?

The first and most important factor is the transfer provider you choose. Each company has its own unique fee structure and you’ll need to consider this in conjunction with the exchange rates available to calculate how affordable that company’s transfer service is.

But there are a number of other factors that can influence the fee of an online money transfer.

  • How the fee is calculated. While some companies charge a flat fee for online transfers, others charge a fee calculated as a percentage of your transfer amount. So, if the fee is 1% of the transfer amount, you’ll pay a lot more to send $5,000 overseas than you would to send $500.
  • The amount you send. Some providers have a fee-free threshold, meaning if you transfer more than a certain amount, the transaction fee will be waived.
  • The speed of the transfer. Some companies provide the option for you to send an urgent transfer, which can be particularly useful in emergency situations, but may result in an additional charge.
  • Where you’re sending the money. Some providers charge different fees based on where you’re sending the money. Remember to consider this when estimating the cost of your transfer.
  • The type of transfer. Some companies such as Western Union and MoneyGram offer the convenience of international cash pickups, but you’ll usually need to pay more for this service.
  • How you pay for the transfer. Some providers offer multiple ways for you to pay for your transfer, such as bank account or credit card. Different fees may apply to the different payment methods.
  • Any additional options you select. Some companies have flexible transfer options, such as scheduling recurring payments or placing a forward contract or limit order. Be aware that these options may also come with additional fees attached.

It’s also worth pointing out that some providers and banks will require that your beneficiary pay a fee in order to receive an international money transfer. Remember to consider this when weighing up your transfer options.

Compare money transfer providers

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 1,000 1 - 2 days USD 0.00 0.836 EUR 4,181 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
$1 Same day USD 0.00 0.841 EUR 4,204 XE offers fast transfers with no fees and a range of foreign currency tools. Go to site Show details
$10 Within an hour USD 1.99 0.828 EUR 4,137 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
$1 1 - 2 days USD 40.00 0.845 EUR
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
$1 Within an hour USD 3.99 0.841 EUR 4,202 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details

Compare up to 4 providers

Bottom line

Knowing what you’ll pay for an online money transfer fee, plus which factors could sway the total price of the transaction gives you the upper hand when deciding on who to make an international money transfer with.

By comparing all of your options, you’ll be able to send money as affordable and efficiently as you’d like.

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