|Real Name||Countries Covering|
|Western Union||200 countries|
|XE Money Transfers||200 countries|
|Currencies Direct||1,000 locations in the UK|
|Western Union||200 countries|
Money transfer businesses are a popular way to send money to loved ones in other countries.
They offer different bank transfers, cash pickups, and mobile money transfers. This article documents the top 10 money transfer companies and provides a short overview of each.
The world of global payments has changed dramatically in the past decade. Gone are these days when you could only wire funds to someone else’s bank account or send a check.
The Internet is making it more comfortable than ever before to transfer funds internationally – but which business should you use? That’s what we are here to help you decide.
Making this list is challenging because of many various factors, such as fees, location, and how long it takes for accounts to arrive. The following is a brief overview of each business from research done on the Internet.
Top 10 Money Transfer Companies
You can also carefully use this directory to compare companies and see what services are available.
The international market for remittances is growing, so it’s crucial to choose a service that presents many different options in how you want your funds to be delivered.
We’ve done comprehensive research on each company to ensure you have all the data necessary to make the best decision about which international money transfer business is right for you!
1. Western Union
Western Union is one of the most senior and largest international money transfer services, with over 500,000 agent locations worldwide.
One benefit to utilizing Western Union is that it can be done on any day, seven days a week. All you require is the name and location of the agent.
Western Union delivers worldwide transfers, along with currency exchange services. In addition, people can send payments instantly to someone else’s bank account or cash pickup sites.
The fees for using Western Union rely on the country receiving the money and the amount being transferred.
A drawback to transmitting money through Western Union is that it may take multiple days to obtain the money after it’s been picked up, and currency trade rates may be higher than some other means.
There is also a fee if the individual receiving funds haven’t used Western Union before.
Western Union was established in 1851 and served more than 200 countries worldwide.
2. XE Money Transfer
XE Money Transfers is an online assistance that can transfer money from one person’s bank account to another within just 24 hours.
Both parties require a MasterCard or Visa debit card and a bank account to obtain wire transfers for this transaction to occur.
XE Money Transfer presents fee-free transfers if they are done within the European Economic Area.
XE Money Transfer also depicts real-time currency exchange rates, so you know how much both payments will be at the time of transfer.
Xoom is a money transfer assistance found online or in-app form on mobile devices. You require a MasterCard, Visa, or another debit card to use this service.
Xoom provides multiple options for the recipient of the money, including direct bank transfer or cash pickup.
This can complicate when funds arrive, though it also means recipients don’t need a bank account to get paid.
You can send money from Xoom in other currencies and use your debit card to send money in the opposite direction if you want to.
You can also use Xoom for frequent payments and remittances, such as paying bills at an unfamiliar address or sending funds abroad for education purposes.
XOOM was established in 2001 and had its offices in San Francisco, CA.
4. Currencies Direct
This company delivers products for both consumers and businesses. Currencies Direct has credentials to multiple exchange rate providers, so finding the best deal on money transfers is easy.
Currencies Direct allows clients to send money throughout the world via bank transfer or money pickup at one of more than 1,000 locations in the UK alone.
The business also has a mobile app that people can download, and it is compatible with Apple and Android devices.
Remitly specializes in online transfers to banks globally, including South Africa, India, Canada, Mexico, Chile, Peru, Brazil, Pakistan, & the Philippines.
They offer competitive velocities and a wide array of supported banks and countries.
Although the fees for utilizing Remitly’s service depend on the specific bank and country applied, most transfers cost two percent or less. For example, a person sending £1,000 would only pay around £20 in fees.
There is also an option to set up automated payments, so you don’t need to recognize to transfer money simultaneously every month.
Another advantage of using Remitly is that its website can be accessed from any web browser, making it suitable for those who don’t own a smartphone or other mobile device.
Wise formally Transfer Wise has offices in Europe & the United States and offers services in more than 3dozen countries. It was founded in January 2011.
Wise is amazing because it allows users to send money from or into their bank account.
The business says that this process helps to reduce the cost of sending funds by up to eight percent.
There are also no secret fees with Wise, so the amount you see when entering the transfer is all that you will pay.
As a result of this smaller cost, Wise can sometimes offer better rates than what’s public on currency exchanges.
Next on our top ten money transfer businesses list is WorldRemit. This business is based in London, UK. It provides an array of services that can send funds throughout the world.
These contain bank transfers, cash pickups at one of more than 80,000 locations across 110 countries, & mobile money top-up.
WorldRemit also lets users send international remittances directly to bank accounts or mobile wallets.
OFX is a money transfer business specializing in online international transfers in Australia.
In complement to sending money from your bank account, you can also use OFX to move funds from credit cards or PayPal accounts.
One of the main advantages of using this service is its relatively low fees. For example, transferring £1,000 means you’ll pay less than £15 in prices, which are much less than what other companies charge.
Another advantage to OFX is that it doesn’t have any transfer limits. This means you can send as much money as required without worrying about extra costs or uncertainties because your budget is exceeded.
It also provides cash pickup open at more than 150 locations worldwide.
OFX allows users to send money in different currencies like other regiments on this list.
This business is based in New York, USA. It specializes in transferring money to bank accounts or prepaid debit cards, while it can also do wire transfers and cash pickups.
Payoneer sustains more than 200 countries, with most customers using its services to transmit money throughout Asia, Africa, Latin America, the Middle East, & Europe.
Because Payoneer is geared toward businesses, it offers corporate debit card services and its user-focused options.
One of the main advantages of using Payoneer is that it can help you expand your customer base by paying international freelancers and employees instantly.
This is a famous institution for transferring money using their bank account or credit cards.
PayPal was initially planned as an online payment system. Still, it has expanded into a web service that can transmit and receive money from anyone with an email address.
Although PayPal once had high costs, it’s now possible to send money at a low price. Its website has an estimator tool that offers the exchange rate before you hit send.
You can also contact consumer service agents to request better rates based on your situation.
PayPal assistance is now used by tens of millions of people worldwide. People can use it to transfer money between various accounts, pay for online purchases, and link with other PayPal users.
One benefit of using PayPal is that it’s easy to sign up and needs no problematic confirmation processes.
Money transfer benefits are a great way to send money from one country or region to another.
If you find yourself deficient in such a service, you must research the many different options obtainable.
We’ve provided ten possible money transfer companies for your review in this post.