- Better exchange rates than those offered by banks
- Lower fees than those charged by banks and other services (free when you transfer over SGD 10,000)
- Quick turnaround time
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Are you looking for a way to send money overseas? We compare a number of financial institutions which offer some of the best deals on international money transfers on the market. Read our tips on how to find the best deal you can get.
Exchange rate information is for the most part readily available online. Banks publish their rates daily, large financial institutions all have online calculators which make it easy to see what they’re offering, and you’ll find it’s less than what you can find from a non-bank international money transfer service. Peer to Peer (P2P) international payments can offer near the market rate; however, you’re still going to pay a margin on the rate plus a commission.
Another provider offering the best rate guarantee is Currencytransfer.com. If you found a cheaper competing service, simply drop them an email for an immediate difference refund.
*11.20pm 26 Oct 2017
There are money transfer companies which won’t charge you a commission but may include a larger margin on the exchange rate. Compare the exchange rate of the following no commission international payment companies.
Citibank allows you to make free international money transfers to Citibank accounts in about 20 countries, which is easier, faster and more cost-effective than the traditional Telegraphic Transfer (TT). Citibank offers slightly better rates than other financial institutions but still less than non-bank money transfer companies.
Many of the money transfer companies we compare can send money overseas at a good rate and price, but the process will take a couple of days.
There are three companies which can send money overseas 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, the Western Union and MoneyGram have hundreds of thousands of cash collection points across the world.
Different companies have different pros and cons. For example, Western Union is good for speed and accessibility, but not so for fees; whereas a company such as TorFX can help with purchasing overseas property and emigrating to another country. From the products we compare:
If you’re looking for more transfer options like market and limit orders, take a look at these companies.
If you’re looking for business international money transfer services, you may consider these companies.
If you want to make regular international money transfers, check out these companies.
Read specific information to find the best way to send money to different countries on this page. From Afghanistan to Zimbabwe, find out which companies support which currencies, as well as Western Union locations and more.
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 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.
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