Sending money internationally has become a common phenomenon in today's globalized world. With the rise of international travel money transfers have turned into a crucial service for all.
Money transfers can work on multiple occasions. For instance, when you are supporting loved ones abroad, paying for overseas services, or managing your finances internationally.
Remember to understand that factors like exchange rates, transfer speed, and convenience play a key role.
This guide explores the best money transfer services in the market that you can use for personal or professional use. Let's help you find the most effective and cost-efficient way to send your money around the globe.
OFX
Rating: 9.8
Used by over 1 million people worldwide, OFX is a great money transfer service that contains bank-beating rates to keep more of your money as it travels over the globe.
OFX contains an established global network and competitive rates, making it a great service for any personal or professional usage.
The company features 24/7 support for its customers so that you can solve currency problems in no time. With over 50 regulators monitoring OFX worldwide, it is an AFX-listed firm.
OFX will also aid you in transferring your pension and savings This service will ensure that you get the best exchange rate for funding your life's next adventures. Trustpilot has rated this service an impressive 4.4 out of 5.
Moreover, take advantage of the intro rate by transferring these currencies: USD, CAD, Euro, GBP, NZD, AUD, and SGD.
XE
Rating: 9.5
XE money transfer service is recommended by more than 65,000 verified customers globally.
With great ban-beating rates and no hidden fees, XE offers fast transfer speeds (transfers generally happen within the same day, some even within minutes).
This brand provides a team of currency experts who will look into giving the best service 24/7. Authorities around the world regulate xem, and more than 275 million people visit XE online every year.
For account and transaction protection, XE utilizes a 2-factor authentication. There are options for spot transfers, regular payments, and forward contracts.
Likewise, there is also no maximum or minimum transfer amount limits.
Dunbridge
Rating: 9.2
Dunbridge is another great transfer service that offers foreign receiving accounts for more than 35 currencies and contains a dedicated account manager.
The minimum amount you can send is $5,000 with the maximum amount being unlimited. FinCen and Fintrac are responsible for monitoring its regulation.
They have 24 / 7 live rates and customer services that display their effective services worldwide. Dunbridge boasts about its services being cheaper than banks that never charge more than 1% and with zero wire fees.
The transfer speed quality is also quite high, with the majority of the transfers happening within the same day.
With Dunbridge, you can purchase foreign property, pay foreign investors, send money home, and invest in another country.
Remitly
Rating: 8.8
Remitly is a great app for people who are in quick need of transferring money worldwide.
The app has a great feature that offers same-day express transfers with guaranteed transfer arrival time (a refund policy is present for failures).
Remitly is great for mobile transfer and supports smartphones. They also prioritize the customer's financial safety, with multi-level security present to protect your private data and money.
A 24/7 constant customer support will keep your personal and professional life easier. Remitly also features special offers and no hidden fees to make your money transfer scheme easier.
They have no minimum transfer amount and contain door-to-door cash delivery options too. Furthermore, Remitly is also heavily regulated by FCA.
WISE
Rating: 8.4
Featuring the ability to send money to over 70 countries, WISE will help in the easy moving of your money internationally. You have the opportunity to save five times when you send money via WISE.
WISE is regulated by the National Bank of Belgium and has strict standards for which they protect their customers' data and money.
Features like real-time notifications and two-factor authentication are quite useful. They also have a dedicated security operations team to run vulnerability scans and other safety procedures.
No hidden fees and small prints are present when you transfer money to others, which sets a standard for transparency.
Chime
Rating: 8.2
Chime is another app where you can utilize your money transfer works without any hassle. The recipient needs a valid debit card to claim their cash though.
With Chime, you can easily transfer money without paying any instant cash-out fees (for both senders and recipients).
Chime boasts about their safe and secure payment for all and they are FDIC insured. They also have a 24 / 7 customer support service that will aid in quick complaint solutions.
Moreover, there is no limit to the number of transactions when clients use Chime. However, transfer limits may vary and people can check them in the Settings section under Account info.
The app also offers no monthly fees and a fee-free overdraft of up to $200.
SendWave
Rating: 8.4
SendWave is a great money transfer app where you can send to multiple countries like Brazil, Indonesia, Mexico, Thailand, and more.
The signing process is quite easy where you have to link your debit card and then verify your identity.
With over 1 million customers worldwide, SendWave displays a fast and convenient money transfer service as you can skip the line and transfer money to others from your phone within seconds.
They also offer dedicated 24 / 7 customer service in multiple languages.
With a 4.5 out of 5 rating by Trustpilot, SendWave features a bank account deposit within 1 to 3 business days and a user-friendly application. FinCEN and FCA are primarily involved in monitoring SendWave's regulation.
MoneyGram
Rating: 8.2
Send and receive money easily from the comfort of your house via MoneyGram, an application that is used by more than 1 million people all over the globe.
You can check the currency exchange rate and estimate fees and then pay bills from anywhere. MoneyGram gloats about three things for their money transfer service, i.e. fast, reliable, and convenient.
The transfer speed is great, with some happening within minutes. MoneyGram also states that you can send your money and information with confidence.
With a global network of 350,000+ agents spanning 200+ nations and territories, MoneyGram has become a convenient tool for sending and receiving money from any location.
WorldRemit
Rating: 9.2
With the ability to send money to 130+ countries, WorldRemit states that they are 46% cheaper (on average) than most banks. The app is licensed by government regulators worldwide, so there is a high focus on the user's data and money security.
WorldRemit incurs low costs while transferring funds and there are friend referral bonuses available for many clients. Many flexible payment options are present like debit cards, bank transfers, and many more.
There is multilingual customer service available 24 hours a day to listen to inquiries and deal with them quickly. However, there is still a transfer limit, i.e. $5000 per transaction and $9000 in 24 hours.
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