Compare international money transfers for your business

Discover some of the best ways for your business to send and receive money internationally.

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VertoFX Business

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  • Free B2B international payments
  • Send money to 200+ countries in 35+ different currencies
  • £100 trade credit for new users. T&Cs apply
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Using an international money transfer service instead of your bank when paying international employees or invoices can save you both time and money. We break down the best ways to make an international business transfer so you can get back to work quicker.

Compare international money transfer services for businesses

Table: sorted by promoted deals first
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Wise (TransferWise) Business
2 days
From £3.75

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
VertoFX Business
24 hours
£0

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Special offer: New customers get $100 trade credit after their first transaction. T&Cs apply.
VertoFX sends money via bank transfer at competitive rates and fees in 35+ currencies.
TorFX Business
24 hours
£0

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TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
CurrencyFair Business
24 hours
€3

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Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Currencies Direct Business
24 hours
£0
SPECIAL OFFER ✓ https://www.currenciesdirect.com/en/info/refer-a-friend

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CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer Business
24 hours
£0

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CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE Business
24 hours
£0
SPECIAL OFFER ✓ Special offer: £25 Amazon voucher when you refer a friend

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XE has fast transfers with no fees and a range of foreign currency tools.
Universal Partners FX Business
24 hours
£0

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Universal Partners FX offers competitive exchange rates and same-day transfers in 100+ currencies.
WorldFirst Business
24 hours
£0

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WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.
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Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Wise (TransferWise)
4 hours
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX
24 hours
£0

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TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Central FX
24 hours
£0

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Finder exclusive: New and existing customers through Finder pay zero fees. Valid till 31 January 2022. T&Cs apply.
Central FX's dedicated team will guide you or your business from first call to final payment.
Currencies Direct
24 hours
£0

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CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

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CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE Money Transfer
Within minutes
£2
SPECIAL OFFER ✓ £25 Amazon voucher when you refer a friend

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XE has fast transfers with low fees and a range of foreign currency tools.
Wise (TransferWise)
4 hours
From £3.75

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
CurrencyFair
24 hours
€3

View details
Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Azimo
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

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Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

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Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within minutes
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

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Use code Take10GB to get £10 off when you spend £20. Valid till 31 January 2022. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
VertoFX Business
24 hours
£0

View details
Special offer: New customers get $100 trade credit after their first transaction. T&Cs apply.
VertoFX sends money via bank transfer at competitive rates and fees in 35+ currencies.
Wise (TransferWise) Business
2 days
From £3.75

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
TorFX Business
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Currencies Direct Business
24 hours
£0
SPECIAL OFFER ✓ https://www.currenciesdirect.com/en/info/refer-a-friend

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyFair Business
24 hours
€3

View details
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
WorldFirst Business
24 hours
£0

View details
WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.
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Why should I compare my options beyond my bank?

For business owners, time can sometimes be more valuable than money. You may think that because it handles your other finances, your local bank is the simplest option when sending money overseas. In truth, international money transfers are no longer a game for only tried-and-true players like banks. Newer companies promise to undercut the competition to earn your business.

Let’s crunch the numbers: Sending a £10,000 business transfer to India

Let’s say you need to send £10,000 to a supplier in India. Here’s what you might face as far as fees and exchange rates as of 8 August 2020.

Money transfer serviceMajor UK bank transfer
Fee£0£20 + additional correspondent bank fees
Exchange rate1 GBP = 97.08 INR1 GBP = 95.77 INR
Transfer speedSame day4 days
Amount receivedINR 97,079INR 93,852
Verdict
  • Better value and faster
  • Slower and more expensive

The bank option is both slower and more expensive when paying your supplier in India. If you went with the money transfer service, not only would your recipient get the money faster, they’d also get an extra INR 3,227 thanks to stronger exchange rates and lower fees.

Banks may seem like the more convenient option, but once you set up an account with a money transfer company you can send money with a few clicks.

How can I receive international payments?

How you set up to receive funds is going to depend on what type of service you go with. Banks are likely to give you the option to open the account and get started in person, while a dedicated money transfer service will probably have fewer physical locations. You’ll probably also have the options of opening an account over the phone or online.

The process is a bit more involved for business accounts, so set aside at least half an hour in most cases to get through the entire application. Make sure you have your personal details, business information and any relevant financial information you may need.

Do I pay taxes on an international business transfer?

Income from abroad is still taxable in the UK. Also be aware of any international tax laws that might apply, especially if you have an international bank account. While there are many treaties around the world to avoid double taxation, you may still be subject to additional taxes.

Because tax law is so involved, you’ll likely want to seek out a certified advisor to make sure everything is above board. Some international business payment solutions like FlyWire can also help you manage your business taxes.

Bottom line

While there’s no one perfect product for making an international business transfer, knowing how to evaluate solutions and find the best one for your business goes a long way. Compare international money transfer providers to get more details on the services they provide, how to better measure them against one another and what to do once you choose one.

Frequently asked questions

Can I monitor the progress of my funds?

Nearly all money transfer services provide a unique transaction ID that you can use to check the status of your funds. In most cases, you can do this online or by phone.

How safe is a money transfer?

When processed through a reputable bank or money transfer provider, your funds are safely tracked until in the hands of your recipient.

Can I set up regular payments?

Yes, many banks and transfer companies offer the convenience of recurring transfers.

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