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Compare international money transfers

Could you transfer money worldwide for less? Compare currency transfer companies to find the best deal for sending money abroad. These services can handle one-off transactions or regular payments.

  • See charges and fees at a glance
  • Move your money safely and securely
  • Compare exchange rates from industry-leading companies

Compare money transfers from top providers

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

Currencies Direct
Currency Solutions
OFX
Moneycorp
Caxton
Wise
TorFX
XE
Global Reach

How to get a money transfer account

1

Get a quote

Explore and compare our best money transfer rates to find the company that’s right for you.

2

Open an account

Set up an account by entering a few personal details, such as your name and address.

3

Make a transfer

Enter the destination and send the funds to be exchanged. The company does the rest.

Money transfer rates

9 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
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TorFX Currency Transfer
Transfer fees
£0
Transfer funds
Online, by phone & in app
Transfer options
Single & regular payments
TorFX Currency Transfer
Fast, fee-free currency transfers at great exchange rates. Transfer amounts from £2000 over the phone with your personal account manager or through the app and online 24/7.
TorFX is a Winner of Moneyfacts International Money Transfer Provider of the year 2016-2022 & Winner of Moneyfacts Best Customer Service 2016-2021.
Eligibility
Minimum Age18 years

Compare another type of money transfer

What is a money transfer?

A money transfer is when you use a specialist service to exchange one currency for another and transfer the converted funds to another country. You usually use an international money transfer to move money from your UK debit card, credit card or bank account to a bank account in another country. Money transfers are sometimes called currency transfers.

How much money can I send abroad?

The lowest amount you can send depends on the transfer company you choose. Some have a minimum transfer sum of £1,000.

Typically, there's no upper limit, but most currency transfer companies ask you to speak to one of their consultants for transactions over a certain level – for example, £15,000. 

From a regulatory perspective, the UK government places no official limit on the amount of money you can send overseas. However, large transfers are likely to be monitored and the Financial Conduct Authority (FCA) or HMRC may become involved if they suspect that the transfers are part of a money-laundering scheme or an attempt to avoid tax.

How do you do a money transfer?

The first step in setting up a currency transfer is to find the best deal. You can compare international money transfer and currency exchange options using the table above.

Once you've decided which service is right for you, you need to arrange the currency transfer itself. Some international money transfer transactions can be done online using a mobile app like Wise or PayPal. For other currency transfer services, you might need to visit your local bank branch or a Western Union or MoneyGram location.

Here are some other things to consider before you do a money transfer.

How to get the best currency transfer deal

The cost of exchanging currencies and sending money abroad is based on several factors, including:

  • how much money you want to transfer

  • the current exchange rate

  • the exchange rate offered by your transfer provider

  • additional money transfer fees

Money transfer fees can vary depending on which company or app you're using, and the country to which you're sending money.

Fees and rates also vary between different money transfer companies. That's why it's important to compare deals.

Are there any restrictions?

The names registered on the bank accounts need to match the names given on the money transfer order. If they’re different, your transfer could be rejected.

Most transfers can be completed online, but some travel money companies ask for transfers to be confirmed over the phone, which means speaking to one of their account managers. Generally, you only need to do this for large transfers.

How else can I send money abroad?

There are three key methods: international bank transfers, money transfer apps and money transfer agents. Here's what they offer:

International bank transfer

With an international bank transfer – also known as a wire transfer – you send money directly to an overseas bank account using an international bank account number (IBAN) and/or a SWIFT code. The fees and charges for this service vary from bank to bank. Some let you send money internationally via their website or dedicated app, but others require you to visit a branch.

This comparison page doesn't cover wire transfers, but your bank should be able to help if you want to send money using this type of service.

Money transfer apps

Money transfer apps are the latest way to send currency abroad and they're probably the most convenient for many of us as you don't need to go anywhere to arrange a payment.

Instead, you download an application from the likes PayPal, OFX or Wise (formerly known as TransferWise) onto your iOS or Android device. Once it's installed, you connect it to a source of money, like your bank account. Once that's done, you can send money abroad at the tap of a button.

Money transfer agents

Back in the day, agencies were the only way of sending money abroad and it's a method that still works today.

To transfer money via an agency you need to visit a Western Union or MoneyGram branch in person. You meet face-to-face with the agent who arranges to transfer your money to another agent elsewhere in the world. The recipient can then visit their closest branch to collect the money.

This approach can be quick: sometimes the money takes just seconds to arrive.

It's worth noting that opting for a slower transfer or sending a different amount of money can affect the rates you’re offered.

Money transfer fees

You need to scrutinise the fees, commission and exchange rates when comparing international money transfer deals. These differ depending on how much money you're sending and where you're sending it. Fees can sometimes be charged to send and receive.

Some currency transfer companies advertise fee-free money transfers. In this case, look closely at the exchange rate: many money transfer companies mark up the exchange rate instead of publishing separate fees.

When you set up a money transfer, think about how much foreign currency you’ll get after fees and charges.

Transfer company Fees
Western Union Western Union charges a fee to transfer money abroad. This varies depending on which country you're sending the money to, the currency you want, how you're paying for the transfer (bank account, debit card or credit card), and whether you're sending the money online or at a counter. Western Union also adds a charge on to the exchange rate.
MoneygramMoneyGram’s transfer fees vary depending on which country you're sending the money to, the currency you want, how you're paying for the transfer (bank account, debit card or credit card), and whether you're sending the money online or at a counter. MoneyGram may also add a charge to the exchange rate, which can vary depending on whether you send the money online or via a physical agent.
XE money transfer XE doesn't charge a fee for an international money transfer, whether you're sending or receiving. But sending money through XE isn't free, as it adds a charge on to the current mid-market exchange rate. That means XE receives a small percentage of the total amount transferred.
Wise Wise charges a fee that varies depending on how much you're sending and which country it is being sent to or from. You get a true mid-market exchange rate, which means it's the same internal exchange rate that banks use.
PayPalPayPal charges a wide range of fees for sending money abroad. The fees vary depending on the sender and the recipient's country and the currency being transferred. It can also be affected by how you're paying for the transaction, though it's cheapest to use a bank account. The sender can decide whether to pay the fees up front or pass them on to the receiver. PayPal also adds a charge to the exchange rate.

International money transfer FAQs

About our international money transfers comparison

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What is an international money transfer?

Transferring your money from the UK to another country can be done in many ways, not just through your bank. Here is how international money transfers work.

Find out what international money transfers are

Why compare money transfers with money.co.uk?

Comparing money transfers could help you save money. Our award-winning money transfer comparison service makes sure you get our best exchange rate with the lowest fees. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators to help you make life's most important decisions and take control of your money.

Proud to be award winning

We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

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Last updated: 8 July 2022