Sending money internationally has never been more accessible, but picking the right service can make a big difference in cost, speed, and convenience. From supporting loved ones abroad to managing business transactions or paying for overseas purchases, the stakes are often high. The right transfer method ensures your money gets where it needs to go quickly and securely—without unnecessary fees cutting into the amount you’re sending.
Luckily, there are plenty of options available, ranging from traditional providers to modern digital platforms. Some prioritize low fees and competitive exchange rates, while others focus on speed or flexibility. No matter your needs, there’s a solution to fit.
Key Takeaways
- Wise, OFX, and Western Union are among the top services for international money transfers, each with unique features like low transfer fees, large transfer limits, and expansive country coverage.
- Speed and cost-effectiveness are key when choosing an international money transfer service, taking into consideration factors such as fees, exchange rates, transfer speed, payment and delivery options, and customer support.
- Alternative methods for sending money internationally include cryptocurrency transactions and digital payment platforms, which can offer advantages like faster transfer times, improved security, and the elimination of traditional banking intermediaries.
6 Best Ways to Send Money Internationally in 2025
Let’s explore the top services for sending money internationally. Each option brings something unique to the table, helping you make the best choice for your situation.
1. Wise (formerly TransferWise)
For those seeking to transfer money internationally, Wise, formerly known as TransferWise, offers an efficient and cost-effective solution. Here are some key features of Wise:
- Low transfer fees
- Competitive exchange rates
- Seamless way of transferring money across borders
- Minimizes high international transfer fees by routing money using local bank systems
Wise provides a seamless and affordable way to send money internationally. It also offers a borderless multi-currency account. This account allows users to store funds in multiple currencies and handle payments with local bank details in specific regions. It’s almost like having a local bank account in numerous countries, making it a convenient option for frequent travelers or those with international financial commitments.
2. OFX
OFX is a reliable platform for those who need to send money internationally. It offers a fee-free solution for larger transfers, making it a cost-effective choice. Setting up an account is simple—just register online or through the app, verify your identity, and you’re ready to start sending money.
With coverage in over 190 countries, OFX accommodates various money transfer needs. The platform requires a minimum transfer of $1,000 but imposes no maximum, making it an excellent option for individuals and businesses handling transfers of all sizes.
3. Western Union
Western Union, one of the oldest and most recognized names in money transfers, is another reliable choice for international money transfers. The platform offers transfers to over 200 countries, meaning you can send money virtually anywhere in the world.
The speed of Western Union’s transfers can vary. Transfers to a local Western Union branch can be completed in just minutes, while international transfers to a bank account typically take 4 to 8 days. Furthermore, Western Union has an extensive network that allows for cash pickups in many of its serviced countries, providing added convenience for the recipients. However, it’s essential to note that the fees for sending money overseas with Western Union vary depending on the destination and delivery method.
4. Xoom
Xoom, a PayPal service, is another great choice for those looking to send money abroad. One of its standout features is the variety of funding options available. You can fund your transfers through a bank account, debit or credit card, or PayPal, giving you plenty of flexibility.
Xoom also offers a high daily transfer limit of up to $50,000. This makes it a solid option for large transfers, whether you’re handling business payments or personal obligations.
5. MoneyGram
MoneyGram has been a trusted name for sending money abroad for years. It allows users to transfer up to $10,000 in a single transaction, making it a strong choice for larger transfers. Additionally, transferring money directly to a bank account through MoneyGram highlights the cost-efficiency of traditional bank transfers for international payments.
In addition to its cost-effective transfers, MoneyGram offers the following features:
- Same-day delivery for international money transfers
- Fast transaction speeds
- Ability to send money internationally and have it arrive within the same day
These features are a boon for users needing quick and efficient money transfers.
6. Bitcoin
In the digital age, cryptocurrency, specifically Bitcoin, has emerged as a novel way to send money internationally. Bitcoin transactions are fast, secure, and not bound by traditional banking limitations. To use Bitcoin to send money internationally, you would:
- Deposit your fiat currency (government-issued currency, like dollars, euros, and yen) onto a Bitcoin platform.
- Buy Bitcoin.
- Send the Bitcoin to your recipient.
- The recipient then sells the Bitcoin for fiat currency on a Bitcoin platform.
- The recipient withdraws the fiat currency to their bank account.
While Bitcoin transactions may seem complicated to those unfamiliar with cryptocurrencies, they offer several advantages. Bitcoin transactions can be completed quickly, often within minutes, offering a faster alternative to traditional transfer options that can take several days.
Moreover, Bitcoin transactions can be conducted from anywhere, as long as you have internet access and a crypto wallet. This can be particularly useful for individuals lacking access to traditional banking services.
Factors to Consider When Choosing an International Money Transfer Service
When selecting a service provider to transfer money internationally, there are several factors that can significantly impact the efficiency, cost, and convenience of your transfers. These factors include:
- The fees and exchange rates offered by the service
- The speed of transfer
- The available payment and delivery options
- The quality of customer support
Continuously reviewing and comparing the costs, services, and features of different money transfer providers can ensure that users receive the most favorable deals over time. However, it’s also essential to consider the specific needs of the transfer location and required features, as these can vary depending on the countries involved and the recipient’s circumstances.
Fees and Charges
When sending money overseas, it’s essential to be aware of the various fees involved. International money transfers typically involve upfront fees, which can be a flat rate or vary by amount sent and destination, as well as receiving fees and currency exchange fees. Therefore, to avoid incurring extra fees, individuals should consider using methods like bundling money into larger transfers to reduce transaction fees and be aware of extra charges that can add to the cost.
The cost of an international transfer is also influenced by several components of the exchange rate, including the rate given by the provider alongside the mid-market rate and exchange rate markups that providers add for profit. Comparing providers is essential to minimize costs. Companies that offer low or no upfront fees, like OFX, or with lower exchange rate markups, often result in more economical transfers.
Speed of Transfer
The speed of a transfer is an important factor, especially for urgent needs like healthcare costs or tuition payments. When you send money internationally, the time it takes can range from minutes to several days, depending on the service. For instance, OFX typically processes transfers within one to three business days, while Xoom can deliver funds in just minutes.
Moreover, most international money transfer services allow users to track the status of their transaction via email notifications, SMS updates, or online or app tracking features. However, it’s important to note that the speed of funds transfer can be slowed down by the SWIFT network as funds may travel through multiple banks, with a typical international wire transfer taking one to three days to complete.
On the other hand, cryptocurrency transactions can significantly expedite the international money transfer process, often completing within minutes.
Payment and Delivery Options
The payment and delivery options you choose can greatly influence the cost and convenience when you transfer money internationally. Bank transfers can be completed through traditional wire methods or services like Wise, which uses local banking networks to reduce fees and deposit funds directly into the recipient’s bank account. Additionally, transfers can be funded with a credit or debit card, with debit cards often offering lower fees.
Another aspect to consider is the delivery options. Wise, for instance, provides flexible routing options for different currencies, catering to a broader range of countries and enhancing delivery versatility. Therefore, when selecting a money transfer service, review the available payment and delivery options and choose the one that best fits your specific needs and circumstances.
Customer Support
The quality of customer support is an essential factor when choosing an international money transfer service. When transferring money internationally, various issues can arise during transactions, and having reliable customer support can make a significant difference in the user experience.
For instance, OFX offers a 24/7 support line and a helpful website FAQ for addressing customer issues at any time. On the other hand, Xoom provides customer service from 9 a.m. to 9 p.m. ET is available in multiple languages and provides support through email. The online platform includes clear cost calculators and FAQs to assist users. In addition, its mobile apps have received high ratings from users.
Tips for Saving Money on International Transfers
When sending money abroad, everyone wants to maximize their money’s value and minimize costs. The World Bank states the average transaction cost for remittances is around 7%, with fees higher in some regions; comparing rates on different platforms and setting rate alerts can offer savings.
Moreover, direct bank transfers into the recipient’s account are usually the cheapest way to send money overseas, making them a cost-effective option to consider when looking to send money internationally.
Sending larger amounts in batches can also be more efficient, as it helps avoid fixed fees taking up a significant portion of the total amount transferred. Using specific mobile apps for international transfers, like the Wise mobile app, can offer cheaper fees, easy access to historical exchange rates, and the ability to repeat previous transfers, further saving costs and enhancing convenience.
Safety and Security Measures for Sending Money Abroad
Ensuring the safety and security of your money during the transfer is essential. Reputable providers like Wise make a great choice by offering features such as:
- Securing funds in trusted financial institutions
- Transparent handling of personal information
- Advanced security measures like two-factor authentication to protect the transfer
Choosing a reliable service ensures your funds are handled securely every step of the way.
Additionally, Wise employs dedicated anti-fraud teams that work around the clock to safeguard accounts and transactions against fraud. Encrypted communication further protects sensitive details, such as bank account information, ensuring a secure experience for users.
Alternatives to Traditional Methods for Sending Money Internationally
Beyond conventional options, several alternatives offer unique advantages for transferring money abroad. Crypto remittance, for example, removes the need for bank intermediaries, often resulting in faster and more cost-effective transactions. This involves converting fiat currency into cryptocurrency for the transfer, and the recipient then exchanges it back into their local currency.
Digital payment platforms provide another option, delivering quicker and more secure solutions compared to traditional methods. Some benefits of using digital payment services include:
- Faster processing times
- Enhanced security features
- Real-time transaction tracking
- Greater convenience and flexibility
These advantages make digital payment platforms a popular choice for sending money overseas efficiently and securely.
Summary
In this ever-shrinking global village, the need for reliable, efficient, and cost-effective international money transfers is undeniable. Whether it’s Wise with its low fees and multi-currency account, OFX with its fee-free large transfers, or Bitcoin with its fast and secure transactions, there are several options available, each with its unique features and benefits.
Consider various factors when choosing a service, such as fees, transfer speed, payment and delivery options, and customer support, to find the best fit for your needs. By comparing different providers, considering alternative methods, and employing practical tips, you can ensure that your money transfers are as efficient, cost-effective, and secure as possible.
Frequently Asked Questions
What are some reliable international money transfer services?
You can consider using Wise (formerly TransferWise), OFX, Xoom, MoneyGram, Western Union, or Bitcoin for reliable sending money overseas. These options offer secure and efficient services for transferring funds internationally.
What factors should I consider when choosing a money transfer service?
When choosing a money transfer service, consider factors such as fees, transfer speed, payment and delivery options, and customer support for a well-informed decision.
How can I save money on international transfers?
To save money on international transfers, compare rates, bundle transfers, use direct deposits, and opt for providers with low or no upfront fees. This can help you avoid unnecessary costs and get the best value for your money.
Are international money transfers secure?
Yes, transferring money internationally is secure when you choose reputable providers that use safety measures like two-factor authentication and encrypted communication.
Are there alternatives to traditional money transfers?
Yes, alternatives to traditional money transfers include crypto remittance and digital payment providers.
