Compare international money transfers

Find the best exchange rates and lowest fees when you send money abroad from the UK.

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Table: promoted deals sorted by a combination of service offering and the amount your recipient will receive

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,000 1 day GBP 0.00 1.095 EUR
10,953
Get bank-beating exchange rates and no fees when you transfer with TorFX. Go to site Show details
GBP 5,000 Same day GBP 0.00 1.095 EUR
10,953
Universal Partners FX offers competitive exchange rates and same-day transfers for 100+ currencies. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.095 EUR
10,953
Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.095 EUR
10,953
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
GBP 1 Same day GBP 0.00 1.095 EUR
10,953
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 1 1 - 2 days GBP 1.99 1.085 EUR
10,852
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
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GBP 10 Within an hour GBP 2.00 1.094 EUR
10,937
First two transfers free for new customers.
Instant or 1 hour transfers to over 50 countries, send money directly to bank accounts or over 280,000 cash pickup points.
Go to site Show details

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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
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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 sending 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 to sell your transaction. 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

Sending to a specific country? Learn more

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