Whether you travel regularly, live abroad or have financial interests all around the world, finding a cheap worldwide money transfer service will save you cash when you move funds overseas.

If you sort money transfer services by the countries they cover, the size of the transfers they can make and by your timeframe, you can quickly cut down the number of services you'll need to check.

Some providers don't cover certain South American countries, while others don't offer same day transfers - if a provider cannot accommodate your needs you can exclude them before looking at the price.

You should also consider how each provider goes about transferring money worldwide - do they offer an online transfer facility, a telephone service or only operate through local agents?

If you are limited in the way you can either send or receive your money transfer you should remove providers that don't offer a suitable alternative from your search.

When you are happy with the selection of services offered, you should compare the price of the packages offered by suitable money transfer companies to make sure you get the cheapest worldwide money transfer from the UK.

Money transfer services base their prices on the amount you want to send, its destination, and how quickly it needs to arrive. These costs tend to be combined into a single fee (including all commission, sending and receiving fees), and added to your transfer as a one off cost.

While the above costs don't include exchange rates, which are often unavailable until the transfer itself is made, there are steps you can take to make sure you qualify for the best rates.

How to get the best exchange rates

Providers tend to reserve their best rates (on both charges and exchange rates) for larger transfers.

The threshold figure will be different for each provider, so checking if your transfer qualifies for a provider's premium rates should help you identify where your transfer will be able to buy the most of your target currency.

Finally, if you decide to use a next day or fast track worldwide money transfer service, you'll need to add its extra cost to the overall package price when you compare quotes.

By prioritising money transfers based on the service they offer, you can use a worldwide money transfer comparison to identify where your transfer will be eligible for the best rates and send money across the globe, for less.