- Fair service fees and mid-market rates – a major market differentiator
- Next-day delivery for most currencies
- Easy-to-use app
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Compared to services like Western Union and MoneyGram, you can save on fees and get a better exchange rate with an online transfer company — though you may have to wait a day for your funds to arrive.
Use our interactive table to compare transfer fees, exchange rates, sending limits and more for sending funds overseas with our money transfer partners.
With so many specialised money transfer companies to choose from, it’s no surprise that you have options when it comes to how your recipient receives your funds.
How you send your money and how it’s received will ultimately affect delivery speed and how much you’re paying in fees. In general, your options include the following:
Although the process differs by company, to send money overseas, you’ll generally:
You may also receive an email or text when your beneficiary has received your funds and the transaction is completed.
Fees vary widely depending on the provider you’re transferring with. Overall, providers make money on your transfer in two ways: by marking up the exchange rate and by charging you a transfer fee.
Banks and other services are likely to add a little to the exchange rate, “padding the rate” to increase their profits. While a few cents may not sound like a lot on its own, when you multiply it by the $2,000 you plan on sending overseas, it can add up to a big difference in the amount ultimately received.
Specialised money transfer services typically offer rates that are closer to the mid-market rate.
Let’s say you need to send $1,000 to family in Thailand. Here’s what you might face as far as fees and exchange rates as of 27 August 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$8.54||$3||$25 + additional correspondent bank fees|
|Exchange rate||1 SGD = 22.89 THB||1 SGD = 22.47 THB||1 SGD = 22.65 THB|
|Transfer speed||1-2 day||Within an hour||2-5 days|
|Amount received||THB 22,694||THB 22,402||THB 22,083|
Skipping the bank will get more than THB 611 to your recipient due to the bank’s transfer fees.
Transfer fees can range from a few dollars to up to $80 or more, with some providers taking even more as a percentage on your total amount.
Depending on the provider, your transaction fee could be:
Be wary of other fees that could apply. For example, a provider could charge your recipient a fee to cash a bank check or pick up cash in person.
There’s a lot riding on a competitive exchange rate and low fee. But depending on how much you’re sending, how soon your recipient needs it and rates at the time of transfer, you could save even more with the following tools.
Although it can be tempting to go with convenience over price, avoiding banks can save you both time and money when sending money internationally. Always pay attention to fees, and more importantly always pay attention to poor exchange rates that can quickly eat into your transfer.
Enjoy convenient payments and a wide range of benefits with debit cards options that match the fast-paced lifestyles of students and young adults.
Learn how to buy shares online by following our 7 step guide for Singaporeans.
We asked 47 experts for their cryptocurrency price predictions and took a deep dive into the Bitcoin price rally.
Everything we know about the Didi Chuxing IPO, plus information on how to buy in.
Learn how to trade futures contracts on Binance with this visual step-by-step guide.
Learn how to use DeFi aggregator Yearn Finance to earn interest on your cryptocurrency.
Discover the different loan options available to help you meet the cost of your big day.
Get bonus rebates on groceries, contactless transactions and household bills with the UOB Delight Credit Card.
Earn accelerated rebates and get a one-year fee waiver with the UOB JCB Card.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.