Finder UK

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
How much do you want to transfer?
Up to £10,000 Above £10,000

SMALLER TRANSFERS

Wise – Join 9 million people getting the real exchange rate

Wise (TransferWise)
Go to site Read review

Transfer speed

48

Min. transfer

£1

Countries covered

65+

Transfer fee

Claiming to be on average 8x cheaper than leading UK high street banks, Wise is all about transparency. It holds its own rates up against others and doesn't mark up the exchange rate, so you get the same rate you see on Google. Wise's fees are clear and upfront, so you always know exactly how much you're spending. Pay with a debit card, credit card, Google Pay, Apple Pay or bank transfer – the choice is yours.
Available currencies include AUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, TRY, USD
Transfer amounts £1 - £1,000,000
FCA reference number 900507

BANK & CASH TRANSFERS

AZIMO – First two international transfers fee-free

Azimo
Go to site Read review

Transfer speed

0.1

Min. transfer

£1

Countries covered

200

Transfer fee

With bank account transfers, cash pick-ups, airtime top-ups and mobile wallet payments, Azimo lets you choose the transfer method that's most convenient for you. Bank transfers typically take less than 24 hours, cash pick-ups can be arranged in less than 30 mins and mobile top-ups are usually instant. Plus, although there's usually a small fee, your first two transfers are fee-free.
Available currencies include AED, ALL, AMD, AOA, ARS, AZN, BAM, BDT, BGN, BHD, BIF, BOB, BRL, BWP, BYN, CAD, CDF, CNY, COP, CVE, CZK, DJF, DKK, DOP, EGP, ERN, ETB, EUR, FJD, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, JMD, JOD, KES, KGS, KMF, KWD, KZT, LKR, LSL, MAD, MDL, MGA, MRU, MXN, MYR, NGN, NIO, NOK, NPR, PEN, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SEK, SGD, SLL, THB, TJS, TRY, UAH, UGX, USD, UYU, VND, XAF, XOF, ZAR
Transfer amounts £1 - £250,000
FCA reference number 900220

BANK & CASH TRANSFERS

World Remit – Low-cost transfers to 150 countries

WorldRemit
Go to site Read review

Transfer speed

0.1

Min. transfer

£1

Currencies available

90

Transfer fee

One of the most versatile money transfer services around, World Remit offers traditional bank transfers, cash pick-ups and mobile account top-ups. Whichever method you choose, you'll benefit from a fast, simple and safe experience with low fees and competitive rates. You can even earn rewards with the refer a friend scheme.
Available currencies include AED, ALL, AMD, AOA, ARS, AUD, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, BYN, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, MAD, MDL, MGA, MNT, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SZL, THB, TJS, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, VEF, VND, VUV, WST, XAF, XOF, XPF, ZAR, ZMW, ZWD
Transfer amounts £1 - £50,000
FCA reference number 900891

What's in this guide?

  1. What is an international money transfer?
  2. How to transfer money internationally
  3. Tips for saving on your international transfer
  4. What should you watch out for?
  5. Frequently asked questions

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 have options when it comes to paying, depending on what the service you choose offers:
  • Cash
  • Credit or debit card
  • Bank transfer
You also 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

The two main ways you can send money out of the UK are either via 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.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site