8 Best International Money Transfer Apps [2024]  (2024)

The 8 Best International Money Transfer Apps

Whether you’re supporting family overseas, managing international business transactions, or handling personal finances away from home, sending money abroad is part of the journey.

In the past, transferring money abroad meant physically visiting a bank, credit union, or another financial institution. But now, there's a simpler solution: money transfer apps.

To find the right tool, you'll need to consider the currencies involved, fees, speed, and additional features that align with your specific needs.

In this guide, we've selected the best international money transfer apps of 2024, breaking down their features, costs, and processing speed to help you find the right apps for your remittance needs.

🔎 Note: All information provided below is dated 26 January 2024 and may have been updated since. Please check each provider's website for the latest information.

Comparison Summary

1. Wise

Wise, previously known as TransferWise, is one of the best money transfer apps that enable both personal and business users to send and receive money internationally, check exchange rates, and manage bills from any location.

Wise is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money and boasts a network of over 70 global partners, including major banks and fintech companies like Monzo and Google Pay.

Wise Top Features

• Payment options: Direct debit (ACH), debit or credit card, Apple Pay, Google Pay, wire transfer
• Receiving methods: Wise account, bank account
• Speed: A few seconds to 2 business days
• Transaction Limits: Vary depending on currencies. For personal accounts, you can send up to 50,000 USD per 24 hours using debit and 2,000 USD per 24 hours using cards. Refer to Wise's sending money information page for details.
• Access 40 currencies in over 70 countries through local rails and reach 160+ countries using the SWIFT network.
• Obtain bank account details in 9 currencies
• Monitor currency exchange rates
• Track historical changes in exchange rates and compare currencies
• Activate exchange rate alerts
• Receive real-time notifications on exchange rates
• Effortless recurring transfers
• Repeat previous transfers
• Open a multi-currency account

Our Rating on Wise Features

We give Wise a 4/5 rating for their features, particularly highlighting their unique offering of bank account details in 9 currencies and a multi-currency account—features not commonly found among other competitors on the list. However, the receiving methods may be less than that of other competitors.

How Does Wise Work

To use Wise, you can start by creating a free account with Wise using your email. Alternatively, you can also use a Google account, Facebook account, or Apple account. You may need to provide proof of address, depending on your location regulations.

From there, choose payment methods and provide recipient details and the amount. If you share the recipient's email, they receive a notification when the funds are en route to their bank account.

Our Rating on Wise Usability

Wise earns a 4/5 for its user-friendly navigation and signup process. However, proof of address may be required in certain locations, which complicates the process.

Wise Pricing

Pricing varies depending on the currency and country. The following figures are provided in USD for reference.

Our Rating on Wise Pricing

We've rated Wise 4/5 for its transparent and straightforward fee structure, starting at a relatively low 0.43%. However, a flat fee could be more cost-effective for larger transactions.

Wise Pros and Cons

• A unique add-on of applicable multi-currency account
• Obtain bank account details in 9 currencies.

• Limited options for receiving money
• Fewer currencies are supported compared to some competitors, such as Western Union.

Our Verdict on Wise

Wise scores 4/5 as an excellent choice for frequent international transactions across various currencies. Its transparent fees provide easy planning. However, for those requiring more traditional services like cash pickups, alternative services may be ideal.

2. Revolut

Revolut is a digital banking application that allows users to send and receive money locally and internationally, split bills, send gifts, and exchange currencies at competitive rates. Additionally, the app offers features such as cashback and interest on selected plans.

Revolut boasts a global customer base exceeding 35 million, with over 500,000 business users. The application operates in 150 countries and regions. However, a personal Revolut account can only be opened by legal residents in the European Economic Area (EEA), Australia, New Zealand, Singapore, Japan, Brazil, Switzerland, the United Kingdom, and the United States.

🔎 Tip: Learn how to open a Revolut personal account online.

Revolut’s Top Features

• Payment options: Pay or transfer via the Revolut app fee-free between Revolut accounts, bank transfers, and SWIFT
• Receiving methods: Linked bank account to Revolut, Revolut account
• Speed: 1 - 5 business days or longer
• Transaction Limits: Most currencies have no transfer limits; any exceptions will be shown in the app before you send money.
• Send money in up to 70+ currencies, with supported currencies varying based on the sender's country. For instance, they enable sending in 29 currencies from the UK and 28 currencies from the US.
• Get a physical or virtual card.
• ATM withdrawal
• Stock trading
• Get discounts or free access to airport lounges
• Get discounted accommodation
• Earn interest, paid daily

Our Rating on Revolut’s Features

Revolut earns 4.5/5 for its banking-like features and perks like interest and discounts. However, its receiving options are more limited compared to others.

To help businesses get started, Revolut offers a 1-month free trial for their services.

How Does Revolut Work

With Revolut, sending money globally is a quick 4-step process: Once you sign up through the Revolut mobile application, log in, tap 'Transfer' > 'New' > 'Send international,' choose destination and currency, and enter your recipient's details.

You can also schedule transfers for regular transactions.

Our Rating on Revolut’s Usability

Revolut scores 4/5 for its user-friendly interface and sleek design. However, registration and usage are limited to the mobile application and not available on the web.

Revolut Pricing

Plans and pricing vary based on country. Given its substantial presence in the United Kingdom, below is the UK plan for your reference.

Our Rating on Revolut’s Pricing

We rate Revolut 4/5 for pricing thanks to its various plans that offer perks like discounts, cashback, and free international transfers. However, it may require sufficient spending to justify the investment.

Revolut Pros and Cons

• A comprehensive financial tool with banking features
• Fee-free money transfers in the ‘Ultra’ premium plan

• Only accessible through a mobile app, no desktop option
• Limited accessibility, only caters to senders in the EEA, Australia, New Zealand, Singapore, Japan, Brazil, Switzerland, the UK, and the US

Our Verdict on Revolut

Revolut is 4.5/5 overall for a strong contender in the international money transfer space, especially for those looking for more than just transfers but an all-in-one financial platform.

3. OFX

OFX is a licensed and regulated financial service provider with over 20 years of experience, regulated by the Australian Securities & Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC).

They facilitate global money transfers for both individuals and businesses, including ecommerce and sole traders, with millions of successful transfers.

OFX Top Features

• Payment options: Direct debit, wire transfer, OFX account
• Receiving methods: Bank account
• Speed: 1-2 business days for most cases
• Transaction Limits: OFX claims that they don't have a limit and won't restrict the amount you can send over a specific period.
• Transfers in over 50 currencies and over 170 countries
• Transfer online, in-app, or over the phone
• Secure a rate for up to 12 months
• Target your preferred exchange rate using a FX Limit Order
• Scheduled routine payments for rent, mortgage, and pension
• Oversee the currencies you transact in through a unified dashboard.
• 24/7 Customer Support

🔎 Tip: Get more information from our in-depth OFX Review.

Our Rating on OFX Features

We've given OFX a rating of 4/5 as it distinguishes itself with various FX features like rate targeting. Additionally, its country's reach is almost in line with major players like Western Union. However, certain features, like cash transactions or FX trading, may not be available in some regions or for personal transactions.

How Does OFX Work

To use OFX, register for an OFX account online or through the app by providing the necessary personal information and documents for identity verification. Once registered, you can initiate money transfers in multiple currencies by entering the amount, recipient details, and preferred payment method based on currency.

OFX will secure the transfer and notify you via email or SMS when the funds are received and disbursed.

Our Rating on OFX Usability

We've rated OFX usability at 3.5/5. Signing up is relatively easy, though it may require some additional details. Message and data rates may apply during the two-step verification process.

OFX Pricing

OFX transfer fees are flat fees depending on the currency.

For instance, there are no transfer fees for transactions in USD. However, when dealing with transfers in AUD, those exceeding AUD 10,000 incur no fees, while transfers below AUD 10,000 are subject to a flat fee of AUD 15.

OFX has a minimum transfer of USD 1,000 or AUD 250

Third-party banks may deduct a fee from your transfer, and this fee is separate from OFX, with the amount varying.

You can verify the OFX rates by visiting the OFX rate check page.

Exchange rates may apply separately.

Our Rating on OFX Pricing

OFX transfer fee gets a 4/5 for being cost-effective, especially with larger transfers. The transparent fee structure is a plus for substantial international transactions.

OFX Pros and Cons

• Advanced features like rate locking and Limit Orders
• Highly favorable for large international transfers

• Mostly limited to bank-to-bank transfers for personal use
• High minimum transfer compared to competitors

4. Western Union

Western Union is a platform enabling you to send and monitor money transfers from the U.S. to more than 200 countries and territories. Payment options include online, through their app, or in person at an agent location. Moreover, you have the flexibility to send money for cash pickup or directly to the recipient’s bank account.

Western Union Top Features

• Payment options: Bank account, in-app Apple Pay, credit cards, debit cards, and pay in cash from over 57,000 Western Union® U.S. agent locations.
• Receiving methods: Bank account, cash pickup, digital wallet (for some locations)
• Speed: Get money in minutes for Agent location and Mobile Money Transfer, the next day for Agent pickup, and 2 to 5 business days for direct bank deposit. These are estimates and may vary by the country.
• Transaction Limits: Amounts exceeding 3,000 USD from the United States require identity verification. Upon verification, you can send up to 50,000 USD. Additional sending limits may differ based on the destination country and the selected service.
• Send money to over 200 countries and territories
• Check real-time exchange rates instantly on the app
• Save recipient details for quick repeat transfers
• Easily track transfers and receive instant notifications.
• Pay bills anytime, anywhere, using the Western Union app.

💡 Tip: Your initial transfer with Western Union incurs zero fees and benefits from a favorable exchange rate.

Our Rating on Western Union Features

Western Union scores 4/5, citing its strengths in wide country reach, extensive physical presence, and cash-based transfer options

How Does Western Union Work

To send money internationally, download the Western Union app and create an account. In the app, you can choose the recipient's country and preferred transfer method, enter their phone number and details, and confirm to complete the transfer.

You'll receive a tracking number for monitoring.

Our Rating on Western Union Usability

Western Union usability earns a 4/5 thanks to a swift sign-up process using a phone number.

Western Union Pricing

Western Union fees and foreign exchange rates are subject to change based on channel and location.

You can estimate fees using the Western Union money transfer fee & cost calculator.

Please note that the figures are not guaranteed, and additional taxes and fees may apply.

Our Rating on Western Union Pricing

We give Western Union's pricing a 3/5 because it can be unpredictable despite the fee estimator.

Western Union Pros and Cons

Pros and Cons of HSBC

• Extensive global network with services in over 200 countries.

• Exchange rates may not be as favorable as those offered by some competitors.

Our Verdict on Western Union

Western Union scores 4/5 overall, a solid choice for users who need both digital solutions and physical locations for cash-based transactions. Its global reach and brand reliability are also significant strengths.

5. Xoom (a PayPal service)

Xoom is a service offered by PayPal, a U.S.-based multinational financial technology company that offers an online payment app and system accessible through both a website and a mobile application.

Xoom is focused on international money transfers. If you reside in the US, Canada, the UK, or countries within the European Economic Area, Xoom enables you to send money and settle bills to over 130 countries.

Xoom Top Features

• Payment options: PayPal balance, bank account, debit card, mobile wallet
• Receiving methods: Bank account, debit cards, cash for pickup, cash delivered
• Speed: Minutes for cash pick up and debit card deposit, a few days for bank deposit
• Transaction Limits: Transaction limits vary by the sender's country. For instance, a US resident can send up to USD 2,999 per 24 hours. These limits can be increased to 10,000 USD within 24 hours by providing additional information as outlined in this Xoom sending limits FAQs
• Pay international bills
• Top-up prepaid mobile phones globally

Our Rating on Xoom Features

We give Xoom’s features a 3.5/5 rating as the capability to pay international bills and top up mobile phones globally is a valuable utility. However, the sending countries are limited to only the US, Canada, the UK, and countries within the European Economic Area.

How Does Xoom Work

If you have a PayPal account, you can log in with PayPal on the Xoom mobile app or Xoom.com

If you don’t have an account yet, you can sign up for an account either on Xoom or on PayPal.

Having an account is all you need to send money, and recipients can receive funds even without a PayPal or Xoom account.

Our Rating on Xoom Usability

We rate the usability of the Xoom app at 4/5because it's easy to get started, especially if you already have a PayPal account.

If you don’t have a PayPal account, signing up is simple, requiring only your first and last name, address, phone number, and email address. However, if you sign up through the Xoom website, you'll find that they support fewer countries compared to signing up on the PayPal website.

Xoom Pricing

Xoom provides upfront information on transaction fees before you send any money. You can find the details on the Xoom money transfer website.

Higher fees are typically applied when using cards.

Our Rating on Xoom Pricing

We've given the pricing 3/5. Although the fees are transparent, they tend to be on the higher side on some routes, as observed in our exploration using their calculator.

Xoom Pros and Cons

• Seamless integration with PayPal accounts

• Limited accessibility, only caters to senders in the US, Canada, the UK, and countries within the European Economic Area

Our Verdict on Xoom

We give Xoom an overall 3.5/5. Xoom is great for users in the US, Canada, the UK, and some European countries who want versatility and already use PayPal. Just keep an eye on fees and transaction speeds, as they can vary depending on where you're sending the money.

6. Remitly

Remitly is an online remittance service headquartered in Seattle, United States. It facilitates international money transfers to over 150 countries, aiming to assist the millions of immigrants worldwide who live and work in a country away from their families.

They have established money transfer partnerships across the globe to support its mission.

Remitly Top Features

• Payment options: Bank transfer, credit cards, debit cards, Apple Pay, Google Pay. Payment options vary by country. Refer to Remitly payment options FAQs for more information.
• Receiving methods: Bank transfer, cash pickup, mobile wallet, home delivery
• Speed: Around 4 hours for the express option and around 3-5 days for the economical option
• Transaction Limits: Limit is dependent on location. Daily limits are set at up to USD 2,999, with a monthly cap of USD 10,000 and a maximum limit of USD 18,000 over a six-month period. You can request to increase your sending limit up to USD 10,000 per 24 hours, but you need to provide additional information as outlined on Remitly sending limits page
• Send money to over 150 countries in 75 currencies

Our Rating on Remitly Features

We rate Remitly 3.5/5, as they provide a diverse range of alternative receiving options, including both cash pickup and, notably home delivery. However, they have limited additional functions.

How Does Remitly Work

To use Remitly, sign up on the website or app, enter the amount, and choose a delivery method.

Next, provide your recipient's details, select a payment method, and confirm the transfer.

Our Rating on Remitly Usability

Remitly scores 4/5 for its quick and straightforward sign-up and usage process for international money transfers. However, some navigation on the website itself may be confusing, such as checking the fee for specific currencies.

Remitly Pricing

Remitly's fees vary depending on the country you're sending money to. They provide a flat rate for any amount. In some countries, you may choose between economy or express options, each with a fixed rate regardless of the transfer amount.

For detailed information on fees, you can refer to Remitly pricing page

💡 Tip: New Remitly customers enjoy fee-free for the first transfer

Our Rating on Remitly Pricing

Remitly scores 4/5 regarding fee structures. The pricing structure is transparent, and the option to choose between express and economy transfers gives users more flexibility based on their urgency and cost considerations.

Remitly Pros and Cons

• Wide range of payment and receiving options, including cash pickup, home delivery, and mobile wallets
• Options between express and economy transfers

• Offers fewer features compared to competitors
• Website navigation presents challenges, and users may find their fee calculator difficult to use

Our Verdict on Remitly

Remitly scores 3.5/5 as it is a strong option for users looking for a straightforward, digital-first money transfer service with flexible pricing options.

7. Xe Money Transfer

Xe Money Transfer provides a secure, fast, and user-friendly solution for sending money to over 130 countries. The online platform offers foreign exchange tools and services, boasting competitive rates and fees that surpass traditional banks.

Xe Money Transfer has merged with HiFX Europe Limited, a currency broker, enhancing its offerings with a variety of FX features and advantages.

Xe Money Transfer Top Features

• Payment options: direct debit ACH, wire transfer, debit cards, credit cards
• Receiving methods: Bank account, cash pickup, mobile wallet
• Speed: Funds are received by Xe instantly if you use your card, or within up to 3 business days for bank transfers. Delivery to the recipient takes 1-4 business days.
• Transaction Limits: Xe has security limits for personal online transfers, which are GBP 350,000 for the UK & Europe, USD 535,000 for the United States, CAD 535,000 for Canada, and NZD 750,000 for Australia & New Zealand. The business transfer limit may be customizable.
• Over 200 countries in 100+ currencies
• Currency pair history chart
• Live tracking and notification
• Set rate alerts

Our Rating on Xe Money Transfer Features

Xe Money Transfer stands out with its detailed exchange rate tools and extensive country and currency coverage.

How Does Xe Money Transfer Work

To send money with Xe, sign up for free using just your email.

Obtain a quote by specifying the currency, amount, and destination. Add your recipient's details, verify your identity if required, and confirm the quote. Fund your transfer with a bank account, credit card, or debit card to complete the process.

Our Rating on Xe Money Transfer Usability

Xe Money is rated 4/5 for its swift setup process, requiring only an email address.

Xe Money Transfer Pricing

Xe transfer costs vary based on the payment method, currency, and destination. The Xe app displays the precise cost before confirming, and any changes are promptly communicated before completion.

Our Rating on Xe Money Transfer Pricing

Xe Money Transfer scores 2/5 as, despite displaying transparent pricing before completion, fee details are now undisclosed and only accessible within the app.

Xe Money Transfer Pros and Cons

• High transaction limit
• Extensive currencies compared to other competitors

• No support for prepaid credit or debit cards
• Certain payment methods are restricted to specific regions; for example, bank debit is only available in the US and Canada.

Our Verdict on Xe Money Transfer

We've rated Xe Money Transfer 3.5/5 overall. It's a legitimate choice for substantial international transfers with broad currency and country coverage, generous transaction limits, and effective exchange rate tools. However, the lack of fee transparency is a notable drawback.

8. WorldRemit

WorldRemit, authorized and regulated by the FCA, is a trusted international money transfer app with 144 payout partners. With a focus on helping users send money to loved ones, it has assisted five million customers in transferring funds to friends and family worldwide.

WorldRemit Top Features

• Payment options: Bank deposit, debit card, credit card
• Receiving methods: Airtime top-up, bank transfer, mobile money, cash pickup.
• Speed: Instant, or it could take 1 - 2 working days for bank transfer
• Transaction Limits: The sending limits on WorldRemit depend on the destination. For reference, from the United States, WorldRemit allows a maximum of USD 9,000 per 24 hours for debit, credit, or prepaid card transactions, with a per-transaction limit of USD 5,000. When using Apple Pay, the per-transaction limit is USD 300.
• Send money from over 50 countries
• Over 130 receive countries
• 70 different currencies
• Track transfer
• View transfer history

Our Rating on WorldRemit Features

WorldRemit scores 3/5 as they provide both online and offline options for receiving money, but they may have fewer overall features compared to competitors.

How Does WorldRemit Work

To use WorldRemit for money transfers, sign up for WorldRemit through apps or websites using your email address, verify your identity, select destination and amount, provide recipient details, and choose your payment method.

Our Rating on WorldRemit Usability

WorldRemit scores a usability rating of 4/5 thanks to its quick setup process that requires only an email.

WorldRemit Pricing

The fee is determined by the sender's country, the recipient's country, the chosen currency, and payment methods. Users can view the applicable fees on the app before initiating each fund transfer.

You can use the WorldRemit calculator to view both the fee and estimated transfer time.

WorldRemit claims to be, on average, 41% cheaper compared to most banks (considering a scenario of sending USD 200) and, on average, USD 5 cheaper compared to Xoom by PayPal.

Our Rating on Worldremit Pricing

We'd give WorldRemit pricing a rating of 3/5. The transparency of their fee structure, visible on their site, is a positive aspect. However, costs can be higher for specific routes or payment options, as observed in our exploration using their calculator.

Worldremit Pros and Cons

• Wide range of receiving options, including airtime top-up and cash pickup.

• Offers fewer additional financial services beyond money transfers when compared to competitors

Our Verdict on WorldRemit

We rate WorldRemit 3.5/5 overall—a good option for international money transfers to friends and family abroad. However, users should be mindful of the varying fees.

Comparison Table: Speed, Limit & Minimums

International Money Transfer App Alternatives

If you find that money transfer apps aren't meeting your requirements, there are a few alternative solutions. The following options might offer the right fit for your needs.

Virtual Business Accounts

Virtual business accounts, typically offered by a virtual bank and neobank, are online financial accounts that can be used to send and receive payments. These types of accounts are often designed to accommodate multiple currencies.

Notably, virtual business accounts often come with lower fees compared to traditional banks, as they don't bear the burden of maintaining physical branches. Moreover, the online nature of these accounts allows for a swift setup.

A virtual business account is secure when regulated and licensed by financial authorities in its operating country. You can also check for deposit protection. All virtual banks in the US should provide information about their Federal Deposit Insurance Corporation (FDIC) coverage and the associated amount.

🔎 Tip: Explore more about the .

Traditional Banks

You can use international wire transfers to send money abroad. The process can be initiated in person, online, or over the phone, depending on your bank's services.

To complete the transaction, you'll be required to share recipient details like their name, address, account number, IBAN code, and the bank's SWIFT code. You’ll also need to specify the amount and currency and pay any fee.

International wire transfers can take a few days and incur costs ranging from USD 15 to USD 50, depending on the bank. It’s advisable to check with your bank for the exact steps and fees.

Cryptocurrency

Another way to send money internationally is through cryptocurrency.

Cryptocurrency offers a distinct alternative to traditional money transfer methods like Wise, PayPal, and Revolut, thanks to its decentralized blockchain technology.

This decentralization enables faster, often cheaper transactions without the need for traditional banking intermediaries and eliminates currency conversion fees for international transfers. Cryptocurrencies are accessible to anyone with an internet connection, enhancing financial inclusion.

However, they face challenges like price volatility, regulatory uncertainty, and technical complexity. Security risks also need careful management, particularly in the storage and use of digital wallets and the practices of exchanges.

Disclaimer: We do not endorse or recommend any cryptocurrency or exchanges. Given its volatile nature, we strongly encourage you to conduct thorough research and consult with a financial professional before using this method.

Final Note

After exploring various international money transfer apps, it's evident that the best choice depends on specific needs—whether it's quick remittance, low fees, or comprehensive financial tools.

In terms of speed, many transfer and payment apps offer quick transactions when using cards or cash pick-ups, often completed within minutes. Conversely, international bank transfers usually take 1-2 business days and, in some cases, up to 3-5 business days.