Compare some of the best international money transfer services

Are you looking for a way to send money overseas? We compare a number of financial institutions that offer some of the best deals on international money transfers in the market. Read on for tips about how to find the best deal you can get.

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Name	Product	Minimum Transfer	Transfer Time	Transfer Fee
WorldRemit		PHP 1	1 - 2 days	USD 3.99	WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site		loading Fetching your data...

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How to find the best exchange rate

Exchange rate information is for the most part readily available online. Banks publish their rates daily and large financial institutions all have online calculators that make it easy to see what they’re offering. You’ll find it’s less than what you can get from a non-bank international money transfer service. Peer-to-peer (P2P) international payments can give you near the market rate; however, you’re still going to pay a margin on the rate plus a commission.

Best-rate guarantees and price promises

TorFX offers a best-rate guarantee on international money transfers. Just send a photo or a copy of a competitor’s quote and TorFX will beat it – up to the market rate. The sign-up process for TorFX is more involved than some other companies. For example, TransferWise lets you sign up using Facebook, but TorFX needs to see some paperwork before your registration is complete.

Travelex offer something similar called the International Payments Price Promise, which guarantees the best overall quote on international money transfers. You have to contact Travelex within 30 minutes of finding a better deal from a competitor. Like TorFX, Travelex have a two-step process to sign up. You can make on-the-spot payments before you speak to Travelex over the phone to complete your registration.Back to top

How to find the lowest commission

There are money transfer companies that won’t charge you a commission, although these institutions may include a bigger margin on the exchange rate. Compare the exchange rate of the following no-commission international payment companies.

How to find the transfer speed you want

Many of the money transfer companies we compare can send money overseas at a good rate and a good price, but the process will take a couple of days.

There are three companies that can send money overseas that is ready to collect in just minutes. If you need to get emergency cash overseas quickly, WorldRemit, Western Union and MoneyGram are the companies to compare. They have the highest transfer fees and you can find a better rate elsewhere; however, Western Union and MoneyGram have hundreds of thousands of cash collection points all over the world.

How to find the money transfer features you want

Different companies have different strengths. For example, Western Union is good for speed and accessibility and not so good on fees; whereas a company such as TorFX can help with purchasing overseas property and immigrating to another country.

If you’re looking for more transfer options, such as market and limit orders, you can have a look at these companies.

If you’re looking for business international money transfer services, you can consider these companies.

If you want to make regular international money transfers, you can have a look at these companies.

• TorFX
• OFX
• Currency Solutions
• Compass Global Markets

How to compare international money transfer companies

• Transfer fee. The price of the international money transfer.
• Exchange rate. The rate of exchange between PHP or USD and the foreign currency.
• Transfer speed. The time it takes for the money to reach the recipient. Transfer time ranges from minutes to half a week.
• Payment methods. Can you pay using your credit card or debit card.
• Collection options. Do you have the choice of collecting the money as cash or having it deposited into a bank account?
• Customer service. Can you contact a customer service representative if you have a question about your international money transfer?

If you have any questions about comparing international money transfer companies, get in touch with us using the form below.

This article discusses how to get the best exchange rates while sending money overseas. The use of the term “best” does not refer to product ratings and are subject to our disclaimer. Exchange rates mentioned in this article are validated at the time of publishing and may vary with time.