Large Money Transfers

large international money transfers

Before making a money transfer you must do your homework in order to decide which option is best in terms of service, security, promptness and fees. When it is necessary to make an even larger money transfer, the research task steps up a level very quickly. You cannot rush it when you’re considering acquiring a new property or sending the down payment for your new business office.

Many individuals, including business owners, investors and corporate CFO’s, will consider banks to be their sole option, simply because they are used to associating these archaic financial institutions with anything that has to do with money. The sad truth is that High Street banks are arguably the worst option for an international money transfer because of their high wire fees, long processing time, lack of availability and most importantly, their sub-par exchange rates. In addition to that, banks would not allow SME’s or individual clients a direct access to their trading room.

The companies we review and recommend on this guide are superior to banks in terms of being more specialized. Even the best money transfer companies aren’t nearly as recognisable and vast as banks. In fact, they rely on banks to transact on their behalf. They are, however, a lot more service oriented, hungry for success, and offer a higher degree of flexibility.

Quick Comparison for a Quick Selection

We strongly recommend anyone who needs to transfer large sums of money abroad to conduct a thorough analysis of the market on his own before making choices, but we realise that this may not be everyone’s way of doing things. That’s why we have created an easy comparison showing up to date rates of the leading companies on our website. We have used specific amounts and currencies for this example but these are live rates which are updating on an hourly basis.

We cannot guarantee you’ll get this exact rate but this should serve as a good indication on the best money transfer company for large international transfers.

Best Money Transfer Rates Between Leading Companies

Transferring money to Spain (Euro)

Payment Facility



worldfirst-logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.0826 EUR to 1.0858 EUR
- CAD: 0.6744 EUR to 0.6765 EUR
- USD: 0.8357 EUR to 0.8382 EUR
WorldFirst Review
currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates* - All Amounts :
- GBP: 1.0684 EUR to 1.0847 EUR
- CAD: 0.6656 EUR to 0.6758 EUR
- USD: 0.8248 EUR to 0.8374 EUR
CurrenciesDirect Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: Based on amount.
Best Rates for £100-5,000
Expected Rates* - Any Amount:
- GBP: 1.0847 EUR
- CAD: 0.6666 EUR
- USD: 0.8374 EUR
Transferwise Review
Spain Bank€40 International transfer Fee + Currency Exchange Fees. Double Or Triple the cost of Commercial FX.

Exchange rate would be approximately *:
- GBP: 1.0684 EUR to 1.0793 EUR
- CAD: 0.6656 EUR to 0.6724 EUR
- USD: 0.8248 EUR to 0.8332 EUR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 1.0629 EUR or worse
- CAD: 0.6656 EUR or worse
- USD: 0.8248 EUR or worse

Transferring money to USA (US Dollar)

Service Provider



worldfirst-logoMin. Transfer: £ / € 1,000.
Transfer: Online or by Phone.
Wire Fees: None. (Only $CA 10 from Canada to USA)
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.2863 USD to 1.2902 USD
- EUR: 1.1799 USD to 1.1835 USD
- AUD: 0.7905 USD to 0.7929 USD
- CAD: 0.8014 USD to 0.8038 USD
WorldFirst Review
currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates* - All Amounts :
- GBP: 1.2695 USD to 1.2915 USD
- EUR: 1.1645 USD to 1.1847 USD
- CAD: 0.7909 USD to 0.8046 USD
CurrenciesDirect Review
Azimo logoMin. Transfer: No Limit.
Transfer: Online Only.
Wire Fees: £ / € 1 - 12 (Depends on Speed).

Expected Rates*:
- GBP: 1.2824 USD
- EUR: 1.1763 USD
- AUD: 0.7881 USD
- CAD: 0.7989 USD
Azimo review
hsbclogo2Min. Transfer: No Min.
Transfer: Online or by Phone.
Why Not? £30 in Fixed Fees. Wide Spreads on Exchange Rates. No Personal Assistance from Currency Dealer. Rated 1.1 / 10 by Clients on TrustPilot.

Exchange rate would be approximately *
- GBP: 1.2695 USD to 1.2824 USD
- EUR: 1.1645 USD to 1.1763 USD
- CAD: 0.7909 USD to 0.7989 USD
paypal logoMin. Transfer: No Min.
Transfer: Online.
Why Not? Costlier than Banks. Each Transfer Costs 2.9%+ to its Receiving Party, and 2.5% in Foreign Exchange Fees to the Payer.

Exchange rate would be approximately *
- GBP: 1.2630 USD or worse
- EUR: 1.1645 USD or worse
- CAD: 0.7909 USD or worse

Transferring money to Canada (Canadian Dollar)

Payment Facility



TorFX logoMin. Transfer: £ / €100.
Transfer: Online or by Phone.
Wire Fees: None.
Offices in Australia: Yes.
Best Rates for £5,000+
Expected Rates* for £5,000+:
- GBP: 1.6175 AUD to 1.6208 AUD
- EUR: 1.4837 AUD to 1.4867 AUD
- USD: 1.2487 AUD to 1.2512 AUD

worldfirst-logoMin. Transfer: £ / €1,000.
Transfer: Online or by Phone.
Wire Fees: None.
Offices in Australia: Yes.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.6159 AUD to 1.6208 AUD
- EUR: 1.4822 AUD to 1.4867 AUD
- USD: 1.2474 AUD to 1.2512 AUD

transferwise logoMin. Transfer: None!
Transfer: Online only.
Wire Fees: Based on amount.
Offices in Australia: Yes.
Best Rates for £100-5,000
Expected Rates* - Any Amount:
- GBP: 1.6159 AUD
- EUR: 1.4822 AUD
- USD: 1.2474 AUD

currencies-direct logoMin. Transfer: £ / €100
Transfer: Online or by Phone.
Wire Fees: None.
Offices in Australia: No.
Expected Rates* - All Amounts :
- GBP: 1.5948 AUD to 1.6224 AUD
- EUR: 1.4628 AUD to 1.4882 AUD
- USD: 1.2311 AUD to 1.2524 AUD

CWBATransfer Fee - $30 AUD.
Exchange rate would be approximately *:
- GBP: 1.5948 AUD to 1.6110 AUD
- EUR: 1.4628 AUD to 1.4777 AUD
- USD: 1.2311 AUD to 1.2437 AUD
paypal logoTransfer fee of 2.9% of the amount sent.
Exchange rate would be approximately *:
- GBP: 1.5866 AUD or worse
- EUR: 1.4628 AUD or worse
- USD: 1.2311 AUD or worse



Deeper analysis of companies for large transfer

1) Exchange Rates for large international transfers

As far as exchange rate goes, this factor alone will diminish the value of your money to a very high extent. For example, let’s assume that you want to buy a property in the beautiful country of Spain that costs 400,000 Euros and the exchange rate between Pound-Euro is 1.40. At this rate you will need £285,417 to buy that property.

But if your bank will provide a slightly worse exchange rate of 1.35, you will end up needing £ 296,296 . That means that a merely 0.05 difference in the exchange rate can represent an additional cost of £ 10,879 to get the same piece of property. These sort of margins (representing a mark-up of just over 6%) are commonplace when dealing with banks.

Similarly to banks, Commercial Foreign Exchange companies also take a mark-up. The “official” inter-bank exchange rate is the rate used for transfers between very large financial institutions which deal with extremely high-volume transfers. If you were to receive this specific rate, they would end up making no money. The difference between FX companies and banks, is that the margins they use are significantly better.

These companies deal on both an online platform (which is often capped, and usually limited at £15,000 – £50,000), and via telephone (after filling an online application form).

Most people dealing with large money exchanges prefer to use the phone option because it enables them to receive better service, increases their trust in the company (they can ask for documentation showing account segregation), and allows them to negotiate better terms for their deal.

Using the online platform, the average margins for medium-sized transfers of £X,XXX are in the region of 1-1.2% for popular currency pairs and at around 1.6-2% for exotic currency pairs. These are far better than banks, and the saving is at least 50% compared to their average margins.

Using the phone options, you can definitely ask for a discount. Especially if you are transferring £25,000, £50,000, £100,000 or (best for you) £1,000,000 abroad. How much of a discount you can get depends on certain factors, including how much service you need (more on that below), which currency pairs are involved and, most importantly, how much money you need to transfer internationally and which company have you chosen to work with.

When you transfer tens of thousands you might be able to haggle your way to as low as 0.7% in some situations. But when you are transferring hundreds of thousands, in some situations, you can get a rate as low as 0.25% (though a 0.5-0.6% margin is definitely considered good in these situations). When transferring millions or more, the sky is the limit. Even a mere 0.15% margin can enable the FX company to make profit.

Here are our choices for best companies for large currency transfers. They are large currency brokers with strong phone support that can definitely offer you the best prices in the market.


2) Large Money Transfers: The Service

The second important factor to take into consideration would be the type and quality of service you should receive when interacting with a currency broker. Good companies offer dedicated assistance to aid and help you optimize the transfer. Each client is assigned with a dedicated dealer to escort him through his transfers. That person becomes more of a business partner who understands the specific requirements and needs each client has, which helps to provide a tailored advice.

One service which is provided online, or by your dedicated dealer, could be tracking the exchange rates. You can give an order for a transfer or an exchange to be executed when an exchange rate hits a certain point. If you envision the EUR-USD will lower in the near future, you can ask to execute only when it reaches a certain rate. You can also secure your transfer and decide on a range (meaning that the transfer will also execute if the EUR-USD increases over a certain point).

Another option which is widely used when transferring large amounts would be forward contracts. This instrument allows you to exchange a certain amount of money at a pre-agreed rate for a future date. Basically, you can exchange 100,000 pounds at today’s currency exchange rate but the transfer will be made after 3 months.

This can be a huge game changer if you know what you want or have specific payments to be made in the future, considering how volatile economy is. Maybe you need to pay the loan for an overseas real estate property and don’t want to worry about the currency fluctuation over time. Today you have a good exchange rate and you want to keep it for the next 3 payments. Just use this option and you can rest at ease for the future.

This is what many real estate investors are working with, considering the recent fluctuation of the Euro and US dollar currency and the growth of the European real estate market. So, if you really want that gorgeous, sea-side apartment in Italy, this is the way to do it. But be sure to act soon so you can benefit from the best currency exchange rates possible.

Another thing FX companies offer behind the scenes is knowledge and optimisation of different international payment systems. By transferring money in the correct format using different batching systems, they can save costs for both you, and the receiving end of the payment or transfer. Again, this service is tailored to your specific requirements.

3) Security and safety

One of the biggest considerations leading people to deal exclusively with banks with large international wires is the fact that they view bank as a highly secure and regulated facility. That is, of course, true. But it does not mean that commercial companies aren’t.

With commercial money transfer companies (particularly the ones we work with) there’s a regulating body supervising over them. The largest and most well known regulator is the British FCA. Others include the USA SEC, or the Australian ASIC. These regulatory bodies verify that client accounts are segregated from;company funds, that there are enough securities, that the transfer is conducted in a fair manner and also verify that the documentation is appropriate to ensure no money laundering is involved. The payment systems and sign-up forms these companies used are similar to ones provided by banks.

Tip of the day: Avoid companies that have been involved in controversies or scams; Even though they might be safe there enough reputation companies to choose from.


Summary: Which are the best companies for large transfers as rated by



Service Provider



worldfirst logo

Review Rating:
10 / 10

Min. Transfer: $ / £ / € 1,000, or Equivalent.
Wire Fees: None, Besides from USA ($10).
Personal Dealers? Yes, a Dedicated Dealer.
From: UK, EU, USA, Australia, Canada, NZ, Singapore + 100 More Regions.

Preferential Rates for Our Readers (View WorldFirst Rates Here)
Global Reach logo

Review Rating:
9.5 / 10

Min. Transfer: $ / £ / € 500.
Offices: UK, South Africa, Cyprus.
Transfer: Online or by Phone.
Fees: None.
Best For: Property, Business, Large transfers.

Preferential Rates for Our Readers (View Global Reach Rates Here)
Currenciesdirect logo

Review Rating:
9.1 / 10

Min. Transfer: $ / £ / € 100, or Equivalent.
Wire Fees: None.
Personal Dealers? Yes, a Dedicated Dealer Above £ € $ 5,000.
From: UK, EU, USA, Australia, Canada, NZ, South Africa, UAE, Sweden, Norway +30 More Regions.
Moneycorp logo

Review Rating:
8.75 / 10

Min. Transfer: $ / £ / € 50 or Equivalent.
Wire Fees: None for Readers Who Use Our Link.
Personal Dealers? Yes, a Dedicated Dealer.
From: UK, EU, USA, Australia, Canada, Sweden, Norway, Switzerland.

Review Rating:
8.5 / 10

Min. Transfer: None.
Wire Fees: €3 + 0.35% of transaction value.
Personal Dealers? None, just online platform.
From: UK, EU, Australia, Canada, Czech Republic, Sweden, Poland + 10 More Regions.
Rates: Slightly worse than Transferwise (view Currencyfair Vs. Transferwise comparison).


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 top-notch option you can view this: top international transfer company list.


Which countries are popular with larger money transfers from the UK?

These are the countries that people sending larger amounts of money to. Australia is pretty common for emigration from the UK (read more about it on our Australia money transfer page). Property purchase is very popular mostly in Europe in locations like Spain, France, Germany (read about sending money to Spain, transferring money to France, and transferring funds to Germany). Another popular location is Switzerland with their developed banking system (read further about Switzerland currency transfers here).

The United Arab Emirates, on the other hand, is a very popular originating country for large transfers to the UK (read about International Transfers from UAE here)

Added perk: Short Delivery time

The short delivery time of payments is another advantage for which these companies are known. Because you can initiate and complete the transfers online or by the phone, the delay is kept to a minimum and you can expect the money to be wired in 1-2 days.

*Depending on the amount and the destination, it can be completed on the same day.

To Summarize

Dealing with specialised Foreign Exchange (FX) companies can save you money, particularly with large international money transfers. Sign up is free of charge, and it is always advisable to sign up with a few companies (which will require the same forms you have already filled in), and test them in practice.

Best Choices:

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