Cheap International Money Transfers

Sending money abroad? Join us on our mission to find the cheapest way of transferring money overseas, as we compare some of the best known international money transfer companies in the world.

We only recommend fully-regulated, proven, client-friendly money transfer services. We do so after carefully reviewing their trading history and currency offering, testing their online platform, and speaking their expert dealers.

View cheap and reputable foreign currency payment providers below:

Service Provider



currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- EUR: 0.8486 GBP to 0.8572 GBP
- USD: 0.7492 GBP to 0.7568 GBP
- CHF: 0.7821 GBP to 0.7900 GBP

CurrenciesDirect Review
worldfirst-logoMin. Transfer: £ / € 1,000.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- EUR: 0.8491 GBP to 0.8564 GBP
- USD: 0.7495 GBP to 0.7560 GBP
- CHF: 0.7825 GBP to 0.7892 GBP
WorldFirst Review
MoneyCorp logoMin. Transfer: £ / € 50.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- EUR: 0.8443 GBP to 0.8503 GBP
- USD: 0.7454 GBP to 0.7507 GBP
- CHF: 0.7781 GBP to 0.7836 GBP
MoneyCorp Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: 0.5% for amounts over 400 GBP with minimum fee of 2 GBP

Expected Rates*:
- EUR: 0.8615 GBP
- USD: 0.7606 GBP
- CHF: 0.7940 GBP
Transferwise Review
hsbclogo2Transfer fee up to £30. Double the cost of Commercial FX. Must have account to transfer funds.
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.


All our recommended companies through our website are approved by UK’s Financial Conduct Authority as Payment Institutions, and registered with HM Revenue & CustomsTo view additional similar options you can view this top international transfer company list.

How International Money Transfer Work

Availability of Service

Companies listed on this table are apt for both private and corporate clients sending global wire payments from the following locations:

UKEUUSASouth AfricaMore Locations
All companies listed above accept UK-based clients, from England, Scotland, Wales, and Northern
All companies listed above accept clients located in the European Union. These countries include Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the flag small
Clients can send money from the USA only through the following companies: World First, Currencies Direct and Moneycorp.USA flag
South African clients are only accepted by Currencies Direct.south africa, which has a local payment settlement and and an S.A office.
  • Some companies like World First and Currencies Direct take on clients from eastern Asia: Japan, China, Hong Kong and Singapore.
  • Some companies like World First and Currencies Direct take on clients from the Middle East: United Arab Emirates and Israel.
  • None of the companies we partner with can take on clients from either FATF blacklisted locations, or high-risk locations like Africa (with the exception of South Africa), South-America or Russia for international wire transfers.

Money Transfer Comparison

We have made our best efforts to ensure we recommend only the best international money transfer services out there. We constantly compare dozens of money transfer services, but only include companies that comply with the following requirements:

  1. In the business of sending money abroad for over 10 years.
  2. Trading at least hundreds of millions of Pounds annually.
  3. Have at least 85% positive client reviews online.
  4. Allow clients to send payments through an online platform, via email and through telephone.
  5. Deal with more than 20 different currencies and able to transfer money to all the popular destinations.
  6. Have offices in at least 2 countries.
  7. Offer dedicated account managers to provide guidance on currency movements.
  8. Offer cheap foreign exchange rates for international wires and charge no fees, to enable saving at least 50% in costs compared to banks.


The Currency Transfer FAQ

What is Commercial FX

Commercial FX companies are an alternative to the traditional banking system’s wire transfers. Similarly to banks, they are connected to financial messaging systems like SWIFT, allowing them to send money internationally between bank accounts.

What differentiates foreign exchange companies and banks is essentially pricing and service. Banks have high transfer fees, sizable spreads, and do not allow private clients direct access to the FX trading rooms; commercial FX firms are basically currency wholesalers: As such, they use smaller spreads, charge no fixed fees on international wire transfers, and enable clients to receive guidance and support directly from a licensed currency dealer.

What’s a Dedicated Dealer?

The top currency firms will offer another advantage in the form of a dedicated dealer. For large transfers, like property purchase, luxury payments, emigration, or business, there’s a certain level of complexity involved. It’s not only a matter of trading the currency at the price, but also at the right time, where conditions are most favourable. These companies will offer you impartial expert advice with the hope of saving your money.

Your dedicated currency dealer will:

  1. Weigh in the different options that you have, by educating you about different type of contracts that allow you to lock future price with today’s rates, or watch the exchange rates on your behalf and notify you once the rate has reached a certain point.
  2. Provide you with his expert opinion on currency trends. He will explain his forecast and reasoning, and can potentially save you thousands by telling you to lock the rate at the right time.
  3. Help you execute the payment itself, including options like regular payments (for things like salary, pension, mortgage). He will optimize the payment plan so the least amount of fees (including recipient banks’ fees or taxes) will be incurred.

What Does It Take to Sign Up?

When you choose to work with a currency firm, you firstly need to sign up. It is advisable you’ll do that using our website, because some of our partner links provide clients with benefits (example: with Moneycorp our link saves all fixed transfer fees which are usually incurred by the company).

We only recommend companies where this process is as hassle-free and seamless as possible.

It’s absolutely easy for UK-based, European, New-Zealander or Australian clients to get verified accounts, but International money laundering laws make it a tad more difficult in other regions of the globe. American clients might need to send more documents, as does middle-eastern and east-Asian clients, but they are happily accepted by the majority of these firms. Transferring currency from regions like India, Pakistan, or Africa is virtually impossible with our recommend companies.

How Does The Process Look Like

Once you are registered with any firm, you are able to receive quotes for your international money transfer inquiry. You can get it directly on your online payment platform, or via telephone. It’s recommended you’ll use the phone for large transfers because you may be able to get a better foreign currency than the default price stated on the online system. If you are on the market to compare exchange rate spreads, and get the absolute cheapest quote, you can sign up with multiple companies and test their offering in real-time.

If you like the price you have received, you could book the transfer immediately. Either through the online payment system, or by verbally agreeing to the price offered to you by telephone. At that moment, your price is locked, and you are able to transfer money to fund the transaction in up to 5 days. One option is to pay the due amount by credit card or credit (optional only in some companies like World First). That makes the deal more expensive and ill-recommended unless the amount transferred is very small. The other option is to locally wire the funds to a domestic bank account that will be communicated to you. That company owned bank account will be a safeguarded account dedicated only for client funds.

Once the funds have reached the company’s domestic bank account, your transferred will be automatically wired to its destination as you specified, and you will receive a confirmation. In most popular destinations should take no more than 24 hours to receive the cross-border payment.

Illustration of the money transfer process via commercial firms

How Do You and These Companies Make Profit?

International currency transfers incurs fees derived from the Buy/ Sell currency rates. The prices you see on places like Yahoo! Finance’s currency converter are the mid-market rates between bank transactions (where banks trades currencies with other banks). The retail price is completely different than that. Banks can charge markups that are high as 5% of the lump sum transferred, in addition to a fixed fee, while commercial currency transfers use tighter margins (usually around the 1-2% but could be much lower for high-volume transfers). That 1-2% represents their revenues (while it’s definitely not all-profit).

We drive in profits by referring clients to the foreign exchange companies listed on our site. Getting to a company through our affiliated links will not incur any additional fees. On the contrary, in many cases you can save money by using our partner links because it would induce extra perks. Our choices are well elaborated, and we only work with companies which have proved themselves as market leaders in the currency industry. You are welcomed to read the detailed reviews we have created for each of the companies to learn more about them.

What Do We Do?

What we do

imtlogo provides information on international money transfers. We don’t handle currency exchange, send money overseas, or receiving payments from abroad ourselves. We don’t provide individual financial advice. We try to help our audience to make an informed choice on what is the cheapest ways to move money between different countries. Nothing more, nothing less.

Minimizing Foreign Exchange Risks

Whether you’re a large corporate, small business, or even a private individual who receives money from abroad or makes an overseas wire payment, currency hedging may be right for you. Besides finding the cheapest way to send money internationally, which an important step towards cost reduction, fixing the current rate for a period of up to 12 months may prove useful for you. Fixing rates through hedging tools like forward transfers, limit orders, and swaps, can help you reduce the volatility and budget yourself better.

For more information you may sign up with either of the companies and request more details from the staff, or read our foreign exchange hedging guide.

Currency Hedging Services

More About This Guide

Our goal here at is to provide our target audience with a complete and enjoyable experience. That audience consists of SME owners, expatriates, immigrants, property investors, foreign stock market investors, luxury buyers and people who have relatives abroad. These audiences are somewhat diverse by nature, and that’s exactly why we have decided to branch out and offer specialized guides dealing with a variety of topics.


Expats and immigrants: read our lengthy USA immigration guide written by a specialist lawyer, read our general Emigration tips, and read our extensive list of best expat blogs.

Be sure to check the most popular emigration destinations in the world like the USA (number of expats and immigrants: 45m) , Germany(number of expats and immigrants: 9m), UAE (number of expats and immigrants: 7m), France  (number of expats and immigrants: 7m), Canada  (number of expats and immigrants: 7m), Australia (number of expats and immigrants: 6m), and Spain (number of expats and immigrants: 6m).


Property buyers: read our top 5 tips for overseas asset purchase, learn how to fix the exchange rate, read our large money transfer best price guide.

Learn what are the best companies and most premium property destinations in country like  France, Spain, USA , UAE and Australia.

 imageedit_3_3046246062Sole traders and businesses: Learn how to save money on FX while freelancing, or learn how to haggle on the price with our large currency transfer guide.

Don’t forget to control your FX exposure using our hedging guide.


Online Sellers? View the specialized services offered particularly for you by clicking on the banner below:

best currency exchange

Remittances & International Money Transfers

globeAlthough we have covered the topic of remittances in length, and cover some exotic destinations for remittances such as Poland, Sri Lanka, India, Nigeria, Kenya and China, this is most definitely not our focus. The services we are recommending have limitations per transfer (from 100 GBP with Currencies Direct through 3,000 per transfer with Currency Solutions). They also have limitations on who can register, and immigrants from Africa, South America or Asia without local bank accounts cannot sign up. Ultimately, these companies don’t handle cash transfers. You can pay them by either bank wire or credit card, and money will be sent abroad to a bank account. They aren’t especially keen to be working on small-volume regular transfers, so instead you can transfer services like of Transferwise’s which allow you to send any amount abroad, for a fraction of a bank’s price.

With overseas transfers from the UK, USA, Europe or Australia, our currency company comparison is spot on. These companies are so sure they can beat the bank and other international payment service providers, that they literally show you a comparison between their quotes and the average bank quote, demonstrating they are indeed the cheapest way to send money abroad. World First even goes to greater lengths, and offers a Best Rate Guarantee which will match any better price from any competitor on the market.