Best International Money Transfer App 2024

HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export HorizontalLine-Export

Quick and efficient currency transfers can have a significant impact on business operations. Whether for managing cross-border payments, overseeing global accounts, or aiming to expand your business internationally, selecting the right method for transferring funds is crucial. Your options range from traditional bank wire transfers and electronic funds transfers to more contemporary solutions like money transfer apps, international currency exchange brokers, and foreign currency exchange services including well-known names such as Western Union, New Age Capital, WorldRemit, CurrencyFair, Moneycorp, FC Exchange, VFX, RationalFX, Currency Solutions, Currencies Direct, and NatWest, among others.

Choosing the best tool for international money transfers involves careful consideration of several factors. This guide provides a detailed analysis of the top international money transfer apps of 2024, highlighting their features and benefits to help you select the most suitable app for your needs.

What Apps are Best for International Money Transfers?

When selecting a money transfer app, it’s important to evaluate key factors meticulously. Here are the essential elements to consider:

  • Transfer Fees and Additional Charges: Be aware of the upfront costs and any hidden fees associated with a transfer.
  • Exchange Rates: This factor is critical as it determines how much of the transferred money reaches the recipient. Even if transfer fees are low or nonexistent, a poor exchange rate can substantially increase the overall cost of sending money.
  • Supported Countries and Currencies: Ensure that the app supports transfers to the desired country and in the appropriate currency.

It’s particularly important to compare exchange rates on reputable platforms like Compare Money Transfer before making any transfers.

TOP 5 International Money Transfer Apps

With these factors in mind, let’s explore top international money transfer apps and what they offer.

Wise

Formerly known as TransferWise, Wise is a comprehensive money transfer service that caters to personal and business users. It enables users to send and receive money internationally, manage bills, and check exchange rates from anywhere. The registration process is straightforward, and users can access Wise’s services through a fully-featured mobile app available on Google Play and the App Store.

  • Multi-Currency Transactions: Users can send, convert, and spend in over 50 currencies.
  • Global Reach: Allows transfers to more than 80 countries and spending in 174 countries with the Wise card, available for a one-time fee of $9.
  • Cost Efficiency: Offers low, transparent transfer fees, mid-market exchange rates, and no hidden costs.
  • Payment Options: Supports various payment methods including direct debit (ACH), debit or credit card, Apple Pay, Google Pay, and bank transfers.
  • Receiving Methods: Funds can be received in a Wise or a bank account.
  • Access and Limits: Users can access 40 currencies in over 70 countries through local rails and reach 160+ countries via the SWIFT network. Transaction limits vary, with personal accounts able to send up to USD 50,000 per 24 hours using debit and USD 2,000 per 24 hours using cards.

Wise’s versatile platform and robust network make it an excellent choice for those needing a reliable and efficient way to manage international money transfers.

Revolut

Revolut is a versatile digital banking application designed for both local and international financial transactions. Available for download on both Google Play and the App Store, Revolut offers a range of day-to-day money management services, personalized debit card options, and travel money services. It boasts a global customer base of over 35 million, including more than 500,000 business users.

  • International Transactions: Revolut supports international spending in over 150 currencies and provides no-fee currency exchanges Monday through Friday in 25 currencies. Users benefit from 10 fee-free international transfers each month.
  • Exchange Rates and Fees: The app generally uses the mid-market exchange rate for most transfers. Notably, a 1% fee is applied for currency exchanges on weekends and for certain currencies like Thai Baht.
  • Payment Options: Revolut allows fee-free payments and transfers between Revolut accounts, bank transfers, and SWIFT.

Users can also obtain physical and virtual cards and enjoy features like stock trading, access to airport lounges, discounted accommodations, and earning interest paid daily.

Remitly

Remitly is an online remittance service that specializes in international money transfers. The Remitly app, available in both Google Play and the App Store, allows users to carry out fast and secure transactions to over 150 countries in 75 currencies.

  • Fees and Rates: Fees vary based on the currency, country, delivery speed, and chosen payment and collection methods. Exchange rates may include a markup. Remitly is upfront about having no hidden fees, although exchange rates might include a margin.
  • Transaction Limits: The standard daily limit is set at up to USD 2,999, with a monthly cap of USD 10,000 and a six-month maximum of USD 18,000. Limits can be increased to USD 10,000 per 24 hours upon providing additional documentation as required.
  • Transfer Speed: Remitly offers an express service that completes transfers in about 4 hours and an economical service that takes 3 to 5 days.

Overall, Remitly combines robust financial transfer services with flexible options tailored to the needs of international users, making it a reliable choice for managing cross-border transactions.

Western Union

Western Union is a leading global provider of money transfer services, allowing users to send money securely and efficiently to over 200 countries and territories. Utilizing advanced security measures, the platform ensures safe and reliable transactions through its mobile app, online, or in-person at agent locations.

  • Payment Methods: Users have diverse options, including bank transfers, debit/credit cards, Apple Pay, and cash payments at one of over 57,000 U.S. Western Union agent locations.
  • User Interface and Convenience: The Western Union app displays live exchange rates and estimated delivery times upfront, allowing users to check rates in real time and save recipient details for quicker future transactions.
  • Costs and Limits: Transfer fees and a markup on the mid-market exchange rate are typically applied and clearly shown before transactions are finalized. For transactions exceeding $3,000 from the U.S., identity verification is required, with a cap of up to $50,000 on verified transactions. Limits may vary based on the destination and service chosen.

Western Union combines its vast network and flexible payment solutions with robust security features and transparent pricing, making it a trusted choice for international money transfers and financial services globally.

OFX

OFX is a well-established and regulated financial service provider specializing in global money transfers. With over 20 years of experience, OFX is regulated by the Australian Securities & Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC), ensuring a reliable and secure platform for individual and business clients.

  • Availability: The OFX mobile app is accessible via Google Play and the App Store, allowing users to manage transfers directly from their mobile devices.
  • Global Reach: Users can make transfers to 190 countries in over 50 currencies.
  • Exchange Rates and Alerts: OFX provides live exchange rates, the ability to set rate alerts, and options to lock in rates for extended periods.
  • Fees and Rates: While OFX claims to offer ‘bank-beating’ rates and does not charge its transfer fees, it notes that third-party banks may impose fees. The rates provided are competitive, albeit with a likely margin or markup on the mid-market rate.
  • Transaction Limits: OFX does not impose limits on the amount you can send over any specific period, facilitating large and regular transactions.

OFX combines a user-friendly mobile interface with robust financial tools to offer a comprehensive service for managing international money transfers, supported by extensive experience and strong regulatory compliance.

Beyond International Money Transfer Apps

With a wide array of international money transfer apps available, it’s essential to choose one that not only meets your needs for quick and efficient service but also offers competitive exchange rates and secure transactions. 

For those seeking reliable international money transfer services, there is also a variety of established banks and specialized currency exchange platforms that offer compelling options. Notable institutions include Barclays, HSBC, and RBS, each known for their robust global transfer capabilities. On the specialized exchange broker side, providers like Post Office, Clear Capital, Excel Currencies, and TorFX are recognized for their tailored services and competitive rates, catering to personal and business transfer needs. These entities collectively represent some of the top choices for managing international money transfers efficiently and securely.

Just be sure to compare exchange rates, fees, and security measures before beginning. Carefully comparing providers always proves beneficial.

How can we help you?

Fill in the form or use the contact details below and we’ll get our expert team to put together a package that’s personal to your project.

sales@comparemoneytransfer.com

+44 (0) 203 950 1252
Name(Required)
✓ Valid number ✕ Invalid number