Review: Opal Transfer international money transfers
Send money speedily to countries across Europe using this London-based service’s range of transfer options.
- Good for fast, secure payments to countries across Europe
- Not so good if you need to send money anywhere else
What's in this guide?
- Opal Transfer exchange rates and fees
- Available currencies
- What types of transfers can you make with Opal Transfer?
- How long does a transfer with Opal Transfer take?
- What payment methods does Opal Transfer accept?
- Is Opal Transfer safe to use?
- How to register an account and send your first transfer
- What is Opal Transfer?
- In a nutshell
- How does Opal Transfer compare to other services?
- Frequently asked questions
Opal Transfer exchange rates and fees
Opal Transfer charges set transfer fees ranging from around 30p to £3. It says the transfer fee will always be the same, no matter how much you send.
It also adds a small margin to the inter-bank exchange rate margin to cover costs.
You can use Opal Transfer to send money to all countries in Europe and other selected countries including Russia and Israel. You can also receive payments into your UK bank account from Bulgaria, Czech Republic, Estonia, Latvia, Lithuania, Poland and Slovakia (the transfer fee is £3).
Some of the more popular currencies that Opal Transfer lets you send to are:
- EUR Euro
- RUB Russian ruble
- HRK Croatian kuna
- CZK Czech koruna
- DKK Danish krone
- SEK Swedish krona
- HUF Hungarian forint
- NOK Norwegian krone
What types of transfers can you make with Opal Transfer?
Opal Transfer is best for making one-off or regular payments directly to a recipient’s bank account.
How long does a transfer with Opal Transfer take?
If you complete the transfer before 11am on a weekday the recipient will get the money on the same day. Otherwise they’ll get it on the next business day.
What payment methods does Opal Transfer accept?
Opal Transfer only accepts payments by debit card or bank transfer. You can transfer money through your online account, via the free mobile app, over the phone or in its East London branch.
Is Opal Transfer safe to use?
- Security and regulation: Regulated and authorised by the FCA
- Established: 2003
- Number of customers: More than 300,000
- Reviews: Trustpilot gives Opal transfer a score of 4.5* out of 5 and an “Excellent” rating, based on around 110 reviews.
Additional security measures include an extended SSL Certificate (you’ll see the small padlock image on your browser address box on its website), meaning your data is encrypted and anonymous using the SSL protocol.
How does Opal Transfer make money?
Opal Transfer charges transfer fees ranging from around 30p to £3.
It also adds a small margin to the inter-bank exchange rate to cover costs – this is why the exchange rate you see on Google or XE is different to the one being quoted to you.
How to register an account and send your first transfer
You can send money in four different ways: online, via the free mobile app, over the phone or in its East London branch. This is how to send money through your online account.
What is Opal Transfer?
Opal Transfer was set up in London in April 2003 by Gita Petkevica. While working at another money transfer business, she wondered why the whole process of sending cash back home to her native Latvia was so slow and expensive, and decided to launch her own business.
Since Opal Transfer was set up it claims to have transferred more than £1.8 billion for private individuals and small businesses across Europe.
In a nutshell
- Flexible options. Send money online, via the app, by phone or in-branch.
- Free app. You can transfer money on the go with the Opal Transfer app.
- Multi-lingual. Opal offers an international customer service team and foreign language options on its website.
- 24/7 access. Send money any time using the app or online account.
- Extra security. Opal uses encrypted data and extra ID for amounts above £800.
- Good customer service. You can contact Opal Transfer for help seven days a week.
- Limited currencies. You can only send money within Europe and a few select locations.
- No cash pick-up. You can only transfer money to the recipient’s bank account.
- No cash or credit card. You can only pay via bank transfer or debit card.
- No live chat. If you have questions, you’ll either need to call or fill out an online form.
- Only one branch. It’s located in East London, so it’s no good if you’re nowhere near there.
How does Opal Transfer compare to other services?
The table below shows the fees and exchange rates you can expect from other money transfer specialists compared with Opal Transfer. Compare it with the other providers to see if it’s the best option for you.
Frequently asked questions
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