Best international money transfer services

Beat the banks, find the best exchange rates and avoid fees when you send money abroad from the UK.
▸ How much do you want to transfer?
Up to £10,000 Above £10,000

★★★★★
800+ customer reviews

LARGER TRANSFERS

Currencies Direct – Simple and secure transfers around the world

Transfer speed

1 day

Min. transfer

£2,000

Currencies available

40+

Transfer fee

£0

Currencies Direct is UK-based and authorised by the Financial Conduct Authority. Its dedicated online platform and app are designed to help you secure the very best rates going: you can choose to make an immediate one-off transfer, set up a recurring transfer, set a limit order to target a specific rate or even set a forward contract to lock in an exchange rate now for a transaction up to a year in the future.
Available currencies include AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR
Transfer amounts From £2,000 (no maximum)
FCA reference number 900669

EXPERT ADVICE

UPFX – Transfer money overseas at the best possible rates

Transfer speed

Same day

Min. transfer

£5,000

Countries covered

120

Transfer fee

£0

Universal Partners FX (UPFX) has been operating for over 10 years and is one of the leading currency exchange companies in the world, employing a team of dedicated foreign exchange experts and consistently offering exchange rates better than any high street bank. Set free alerts to tell you when your target exchange rate is available and benefit from Swift Payments to ensure funds arrive the same working day.
Available currencies include AED, ALL, AMD, ANG, AOA, ARS, AUD, BBD, BDT, BGN, BHD, BMD, BND, BOB, BRL, BSD, BWP, CAD, CDF, CHF, CLP, CNY, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KYD, KZT, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, XAF, XCD, XOF, XPF, ZAR
Transfer amounts £5,000 - £999,999
FCA reference number 820037

CUSTOMER SERVICE

TorFX – Guarantees to beat any competitor's transaction rate

Transfer speed

1 day

Min. transfer

£2,000

Transfer money

24/7

Transfer fee

£0

Regularly winning awards for its customer service and international transfers platform, TorFX has been helping people save time and money on currency transfers since 2004. You can arrange transfers online, in the app or over the phone with your Account Manager. You'll benefit from personal account management, award-winning support and expert insight.
Available currencies include AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR
Transfer amounts From £2,000 (no maximum)
FCA reference number 900706

BUSINESS TRANSFERS

CentralFX – Managing your currency risk and international payments

Transfer speed

Same day

Min. transfer

£2,500

Currencies available

50+

Transfer fee

£0

Business specialist CentralFX works with you to get your international payments right first time and every time. Load up and pay multiple beneficiaries at once. You'll save time and energy when making multiple payments while still ensuring accuracy. All transactions go through segregated client accounts held within Tier 1 financial institutions.
Available currencies include AED, ANG, AUD, BBD, BGN, BHD, BRL, BSD, BWP, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, GHS, GMD, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KWD, KYD, LKR, MAD, MUR, MWK, MXN, NGN, NOK, NZD, OMR, PHP, PKR, QAR, RON, RSD, RUB, SAR, SEK, SGD, SZL, THB, TND, TRY, UGX, USD, XCD, ZAR, ZMW
Transfer amounts From £2,500 (no maximum)
FCA reference number 565847

What is an international money transfer?

An international money transfer is what happens when you send money to someone overseas. You provide funds and your recipient’s details to a bank or an independent transfer provider, which then exchanges the money into your desired currency and sends it to your recipient. You can send money over the phone, in person, through a mobile app or online.

You also have options when it comes to paying, depending on what the service you choose offers:
  • Cash
  • Credit or debit card
  • Bank transfer
And you have options for how your recipient receives the transfer:
  • Bank account
  • Mobile wallet
  • Cash pick-up
  • Door delivery

Looking for business transfers?

How to transfer money internationally

There are two main ways to send money out of the UK: a specialist money transfer service or your bank. Both banks and transfer services offer online transfers, with some offering in-branch transfers or the ability to send money over your phone via an app or calling an agent.

We’ll go through the steps each method takes if you were to send online.

A: Through a money transfer specialist

The following steps give a good example of a typical transfer using a money transfer company.

  1. Register online with the transfer service of your choice.
  2. Input transaction details, including the amount you want to transfer.
  3. Get approved by the transfer company. You may need to scan or email a copy of your ID for the first transaction.
  4. Transfer funds through your bank using the account details from your transfer company.
  5. Get your money. Your transfer service will deposit your funds in your destination account.
  • For you if
    You want a more competitive exchange rate and lower fees than a bank transfer.
  • Not for you if
    You want the familiarity and convenience of a known bank and don’t have time to be verified.

B: Through your bank

If you choose to use a bank to carry out your transfer, the process is a little different.

  1. Navigate to the international money transfers section of your account.
  2. You’ll usually need to know the address of the receiving bank, the account details of the receiving account, the account name and often the receiving bank’s SWIFT code (an international bank identification system).
  3. It’s a good idea to check with your bank about exchange rates.
  4. You can use this method to send an international money order online to your home bank account or to a third party.
  • For you if
    You want the convenience of sending money directly from your existing bank account immediately.
  • Not for you if
    You want fewer fees and a better exchange rate.

Tips for saving on your international transfer

While there’s no best way to transfer funds overseas, there are a few things you can do to make it cheaper.

  • Know your transfer currency’s mid-market rate. This rate is the midpoint between worldwide supply and demand for that currency. It is the rate banks and transfer services use when they trade among themselves. Use it as a baseline to compare against the rates you’re being offered. The company that’s closest is offering you the best rate.
  • Send more money per transfer. Many services discount the fees or waive them altogether when you send larger amounts.
  • Use forward contracts and limit orders if sending money regularly. A forward contract allows you to lock in a favourable exchange rate for future transfers. This means you’ll avoid unpredictable movements in exchange rates. A limit order allows you to wait until a favourable exchange rate is found and then lock it in for your transfer.

Need to send cash?

What should you watch out for?

Keep an eye out for the following when you send money overseas:

  • Hidden fees. No transfer is truly free. If a service is advertising “fee-free transfers”, there’s probably a larger margin added to the exchange rate. Compare the rate you get quoted against the mid-market rate (which you can find on Google) to see if you’re getting a good deal.
  • Fake rates. If you see a great exchange rate advertised on a provider’s website, make sure the rate you see is the rate you will actually receive. Some companies advertise the mid-market exchange rate, which is the rate at which banks purchase foreign exchange, rather than the rate they actually offer their customers.
  • Failing to do your research. If you want to save some money, compare several transfer providers before choosing one. Shop around for a company that offers reliable and affordable transfers, instead of just diving in head-first.
  • Scams. Scams cost the UK many billions of pounds each year and money-transfer scams are the biggest culprit. With this number increasing each year, it’s important to keep an eye out for the most common scams. In general, it’s best to only send money to someone you know personally.

Frequently asked questions

How much do you want to transfer?

Up to £10,000 Above £10,000

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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