10 Best International Transfer Platforms in 2024

Whether you’re sending money to your friends and family, buying property, making investments, or paying for work overseas, choosing the best international transfer platforms is a must to get the best bang for your buck!

While a bank might seem like the most obvious choice, it often isn’t the cheapest or best option. To ensure that your money goes further and to guarantee a hassle-free experience when transferring funds across countries, we’ve compiled a list of platforms that make international transfers easy. So, let’s get started with the best ways to send money internationally in 2024. 

The Best International Transfer Platforms Reviewed

Now, let’s take a deep dive into each of these platforms so that you get a better idea of what each of these platforms has to offer you and if they are really worth your time and money.

1. Airwallex – Best Overall International Transfer Platform in 2024

This Australian-based fintech company was founded about a decade ago and has since expanded to cover 60+ countries where you can open accounts with bank details, 110+ countries to which you can make transfers, and 180+ countries from which you can accept payments.

Airwallex is licensed and regulated in several regions, including Australia, Canada, China, New Zealand, Singapore, Malaysia, the UK, and the US. 

As one of the best international money transfer apps, Airwallex offers an all-in-one business account that allows you to operate globally, APIs to programmatically manage your money, and the ability to build your own global financial products. 

With the Airwallex app, widely recognized as the best international transfer app, you can manage your finances on the go with features like a multi-currency wallet, hold money in over 11 currencies, create virtual debit cards instantly, and integrate with Xero.

Backed by the multimedia giant Tencent, here, you enjoy simplicity, low costs, fast transfers, and professional customer support via a FAQ, submit a request, phone number, and social media. This award-winning cloud-native international transfer platform utilizes the top security standards, such as PCI DSS, SOC1, and SOC2 compliance, to maintain the highest security. 

2. Revolut – Top No-Fee International Transfer Platform With Diverse Offerings

According to our Revolut review, it is more than just a money transfer platform. It allows you to buy crypto, stocks, and commodities, provides a personalized debit card, and offers comprehensive money management tools. The platform supports 100+ countries and 25+ currencies for payments.

When it comes to getting an account, you have five options: the free Standard to send money abroad, Plus for £3.99/month to enjoy priority in-app support, Premium for £7.99/month to get flexible benefits like priority customer service, Metal for £14.99/month to have higher investment limits, and Ultra which will cost you £45/month.

Using Revolut for international transfers offers significant benefits, including 10 free international transfers a month and no-fee currency exchanges. However, you have to pay a fee and markups on weekends and in certain currencies. Additionally, Revolut enables you to plan and track your spending effectively. 

For businesses, Revolut offers accounts that support global payments, multi-currency accounts, physical and virtual debit cards, integration with Xero and QuickBooks, contactless payments, and APIs. On the security front, the platform leverages licensed banks, the ability to freeze or block a card, automated payments, and permission management.

3. Western Union – Trusted Leader in Worldwide Money Transfers With Extensive Physical Network

Founded in 1851, Western Union is a big and well-known brand in the international money transfer space. The platform allows you to send money online, through the app, and in person. Recipients can either receive funds via their bank account or pick up cash at any of Western Union’s physical locations.

This international transfer platform, which is highly rated in app stores, is particularly known for its vast network of agent locations around the globe. It covers 200 countries and territories.

When making transfers, you get access to live exchange rates, fees, and the estimated delivery time. However, you are likely to encounter a markup to the mid-market rate, which is the interbank exchange rate that big banks use to swap currencies.

Western Union’s costs and speed vary considerably depending on the destination country, your chosen delivery method, and the payment type. You might also find it challenging to compare the exchange rates, although the currency converter is available right on the front page.

For customer support, you can get in touch with its representative through live chat, phone, or in person. 

4. Wise – Transparent International Money Transfers With Mid-Market Rates & High Transfer Limits

Formerly known as TransferWise, this platform was founded in 2011 and supports a good number of countries.

Using Wise, you can make money transfers via bank for the best value and direct debit for convenience. The international transfer platform uses a mid-market rate and charges a conversion fee. You can use its currency converter to see how much your money is worth in over 140 currencies and also get rate alerts. 

Business accounts are also available, which require a one-time setup fee. This gets your first card, which offers 0.5% cashback on purchases. You also get access to a free invoice generator and several business-related calculators, such as sales tax, import duty, fees, and VAT.

Customer support, meanwhile, is available via a limited Help Center or directly by contacting the support team. When moving large amounts of money, Wise offers dedicated assistance through its team of experts. For security, the platform uses 2FA, an anti-fraud team, and partners with established financial institutions separate from its own accounts. It is also a SOC 1 Type 2, SOC 2 Type 2, PCI DSS, and ISO 27001 certified company.

5. OFX – Seamless Global Money Transfers With Competitive Exchange Rates & 24/7 Customer Service

Having been in the market for over 20 years, OFX helps individuals and businesses move money effectively. It has been listed on the ASX since 2013 and is regulated by the likes of ASIC, AUSTRAC, MAS, FMA, FinCEN, FinTRAC, and FCA.

OFX supports transactions in over 170 countries and 50 currencies, enabling seamless money transfers worldwide. Before making a transaction, you can check foreign exchange rates on the most popular currency pairs with OFX. It also allows its users to view interbank exchange rates and historical rates, set rate alerts, and check future rate cost scenarios.

With OFX, money transfers take one to three business days to complete, depending on the destination. As an OFX user, you can either send your money at current rates, use limit orders to target a rate, or use forward contracts to fix a future rate. 

OFX also has an app that can enable you to make fast and easy mobile transfers and track payments on the go. 

If you wish to get in touch with its customer service, you can contact OFX experts, who are available 24/7. As for security, several measures are taken, including passwords, multi-factor authentication (MFA), security questions, automatic time-outs, data encryption, and a fraud system. 

6. Remitly – Efficient International Money Transfers With Low Fees & Multiple Delivery Options

Established in 2011, this international transfer platform supports more than 170 countries for money transfers, though the number varies based on your location.

At Remitly, you get competitive rates to send money, which can be done using your bank account, cards, or mobile phone. The platform offers the choice between Economy, which takes a few business days but is cheaper, and Express, which takes minutes to deliver but is costly.

Meanwhile, it charges no fee for receiving money and offers a range of delivery options, including cash pickup, bank deposit, mobile money, home delivery, and debit card deposit. The platform, which boasts thousands of cash pickup locations worldwide, also offers a special offer on the first money transfer. 

On the platform and its app, you also have the option to view live exchange rates and set alerts. To help users with their queries, Remitly provides customer support 24/7 via phone and chat. You can also check out its Help Center for support, which is available in 15 languages.

7. WorldRemit – Quick & Cost-Effective International Money Transfer Service With Free Initial Transfers

WorldRemit is another popular transfer service licensed by government regulators. It ensures the highest possible compliance and security standards. Through its money transfer app, you can send money in minutes to over 130 countries. 

Using WorldRemit, you can choose among four different methods to transfer money. This includes bank transfers for which you need the receiver’s details, mobile transfers that require a registered mobile money account number, cash pickup at several locations, and top-up credit for a pre-paid mobile phone number.

Most transfers here are fast and can be done at competitive rates. However, the cost and speed of the transfer depend on the receiving country and the payment and receiving method. The platform’s low daily limits, however, make it a less popular option for regular business exchanges. 

The best part of WorldRemit is its easy mobile wallet service, which automatically converts payments to the recipient’s currency minus a small rate markup. New customers can also enjoy a few free transfers.

If you have any issues, you can visit the FAQ section in its Help Hub, or you can contact them via live chat or phone if you have a transfer in progress.

8. Xe Money Transfer – Reliable International Wire Transfers With High Limits & Transparent Fees 

Incorporated in 1993, Xe supports over 200 countries and 100+ currencies. It is part of the Euronet Worldwide family, a global electronic payment service provider that offers ATM, PoS services, credit/debit card services, and currency exchange services.

At Xe, you can transfer funds through wire transfers, direct debits that take funds directly from your account, and card payments, which involve a small additional fee. Cash pickups are supported at over 500,000 locations worldwide.

The platform offers business accounts with high transfer limits and large-scale transfers. It further provides seamless ERP integrations and FX risk management services, including spot transfers, forward contracts, market orders, and option contracts.

Some of the popular tools that Xe offers to its users for more efficient and informed transfers include currency charts, historical currency rates, rate alerts, newsletters, a currency converter, and an IBAN calculator.

For customer support, the Xe Help Centre covers a wide range of topics to help its users with platform-related issues. Security, meanwhile, is ensured by using 2FA and biometric verification to access accounts. Overall, Xe is among the best international wire transfer companies.

9. Xoom – Versatile Global Money Transfer Solution With Low Fees & Multiple Payment Options

A PayPal service, Xoom allows you to reload, pay bills, and send money in over 160 countries. Using its exchange rate calculator, you can get an idea of the cost involved. Once you’ve chosen the country, the calculator will give you a breakdown of the fees for bank deposits, debit card deposits, and cash pickups.

Xoom charges low upfront fees, though there are exchange rate markups. Fees, however, vary depending on the transaction type, payment method, currency used and received, amount, and destination country. Interestingly, when transactions are made using PayPal’s stablecoin, PYUSD, Xoom does not charge any transfer fees. 

To ensure privacy and safety, Xoom uses 128-bit data security encryption and a VeriSign SSL Certificate. It also works with major banks and leading retailers and sends a security code to your email. Moreover, the Xoom mobile app utilizes biometric login and features Slide-to-Send technology.

The platform further ensures fund safety by guaranteeing money delivery or a full transaction refund. If you need any help, you can visit Xoom’s Help Center, email, or call them.

10. Currencies Direct – Ideal Choice for Large International Transfers With Dedicated Support

For nearly three decades, Currencies Direct has offered quick and efficient transfers to over 100 countries in 40+ currencies. This regulated platform provides tools like currency charts, currency converters, and rate alerts. It supports both personal and business accounts. 

For businesses, it offers automatic currency conversion, rate alerts, online multiple currency management, forward contracts, market orders, and options. Moreover, the platform also offers tailored international payment solutions and a dedicated team to businesses using its services.

This service is particularly attractive for large transfers, thanks to the high minimum amount and attractive rates at higher values. However, it may not be the right option for those dealing in small amounts.

It also offers a multi-currency debit card, which can be ordered for free through its app. The card can be used with Apple Pay or Google Pay. It works with GBP, EUR, USD, AUD, SEK, NOK, DKK, CAD, AED & PLN wallets, allowing for seamless spending with no monthly card fees and better ATM rates.

When it comes to customer service, the platform provides efficient support via help hub, live chat, email, and phone.

The Best International Transfer Services Compared

In this segment, we will compare these platforms based on various criteria, including how much international money transfer cost when using them. 

What is an International Transfer?

Whenever you need to send money abroad for purposes like paying for accommodation, travel, mortgage, work, college tuition, bills, a destination wedding, or simply to send money back to your loved ones, you are making an international transfer. So, an international transfer is all about moving funds from one country to another, be it for personal reasons or business purposes. 

When making such transfers, you use international transfer platforms, which allow you to send money safely and at any time. 

How do International Transfer Platforms Work?

These platforms primarily work as intermediaries. You must first sign up and get verified by providing all your details. Then, provide recipient details, including name, bank account, and any other required information. In the next stage, select the transfer amount and the payment method, which ranges from bank transfers to card payments. 

You also have to choose the currency you want to transfer. Based on the exchange rate, the platform will convert the amount to the recipient’s currency.  

When using these platforms, you send money to the platform’s bank account in your country. This amount, minus the platform fee, then gets into the platform’s account in the recipient’s country. The platform then credits the recipient’s bank account in their local currency.

To make international transfers, these platforms utilize their connections with local payment networks that cover banks, financial institutions, and mobile wallets. Additionally, they leverage different systems such as SWIFT, SEPA, Fedwire, CHAPS, TARGET2, CLS, and CIPS.

How We Ranked the Top International Transfer Platforms

Now, to provide a clear picture of our recommendations, here’s how we ranked these platforms:

Reputation and Regulation  

First and foremost, the platform you choose for international transfers must be trustworthy. It should have a long, successful track record and be approved by the regulatory authorities to provide its services in different countries. 

It is crucial to ensure that you are using legitimate means to transfer your money. This is why we have given top priority to a platform with regulators’ stamp. 

Money Services Business (MSB) License, Financial Services Authority (FSA) Approval, and Payment Institution License are some of the regulatory approvals these platforms need based on the country they are servicing. Moreover, they need to follow anti-money laundering (AML) laws, data protection and privacy regulations, consumer protection laws, and cybersecurity regulations.

Exchange Rates

The next most important thing is having favorable exchange rates, which are constantly changing. Exchange rates refer to the value of one currency you’ll get when exchanging it for another. This rate directly affects the amount the recipient receives. 

You’ll see that most platforms use an exchange rate markup, which means, a markup to the rate in order to earn a profit. The higher the markup, the less money the recipient will get.

A platform must provide a competitive exchange rate and a tool to check the exchange rate in real time. 

Transfer Speed

Transaction speed is always important in matters of money. While instant is the best choice, it is important to note that moving funds cross-border takes time. So, ideally, money should be transferred within 1-3 business days. 

Notably, the country and the chosen payment method tend to affect the time it takes for the transfer to be completed. 

Fees and Additional Charges

There will always be costs involved when using apps to send money internationally. However, the best international transfer service should have a competitive fee and a transparent pricing structure to avoid hidden fees.

Additionally, international money transfers incur different charges, such as transfer fees, conversion tax, service charges, etc. The fees you pay can vary depending on the country, currency, and delivery method. 

Convenience

No one wants a cumbersome, headache-inducing money-transferring process. The key to having the best experience is having a hassle-free process; right from registering for an account, getting verified, and making the remittance order to tracking its progress.

Our list of best international transfer services ensures that you enjoy ease and convenience when using these platforms. The same applies to the best international payment collection platforms. 

Customer Support

Every platform on this list is also evaluated based on its customer service quality. When money is involved, it is essential that the service provider is available round the clock to resolve your issues promptly. 

Not only do the best international transfer services have skilled and readily available customer service, but support must also be provided in several ways that are convenient for users. 

Are International Transfer Platforms Safe?

International transfer platforms are legitimate and completely safe. To provide their services, these platforms obtain regulatory approval and comply with local and international rules and regulations.

Millions of users globally turn to these platforms to send money across borders, thanks to their established legal systems, banks, payment providers, and financial institutions. 

When it comes to security, international transfer services further utilize advanced encryption methods, identity verification, automated online checks, AML procedures, anti-fraud safeguards, and two-factor authentication (2FA).

That’s not to say there are no mishaps; misplaced transfers, scams, fraud, phishing, and illegal data use are some of the risks involved. So, always be vigilant and protect your information.

International Transfer Platform Alternatives

Now, let’s take a look at some substitutes for these platforms:

• Traditional banks are pretty popular but are rather costly options for making international transfers. Here, you can either use your bank’s online services, visit your nearest branch to get in-person assistance or make the transfer over the phone.
• Cryptocurrencies are a novel, advanced, and cheaper way to move money all around the world. These digital currencies are decentralized, permissionless, and have no physical boundaries. You just need a wallet address to make or receive payment. 
• Virtual business accounts are non-physical bank accounts that work like traditional bank accounts to manage payments digitally. Here, you get a unique Virtual Account Number (VAN) as a secure and consolidated way to make transactions. 

Conclusion

With online money transactions becoming an integral part of our increasingly digitized daily lives, international transfer platforms offer unparalleled accessibility, convenience, lower transaction fees, competitive exchange rates, fast speed, advanced security, and dedicated customer support to revolutionize the way people transfer money across the world.

Amidst this revolution, Airwallex has emerged as a promising solution that offers a seamless experience when transferring to another country. All it takes is a single account to manage your global payments and finances, while its professional customer service will solve all your queries quickly.

So, to send money abroad fast and at better rates, check out Airwallex today!

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Gaurav Roy

Editor

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Gaurav Roy

Editor

Gaurav is a seasoned content specialist and researcher with over 5 years of remote work experience, engaging with clients across the US, UK, Australia, Israel, Germany, Netherlands, Canada, India, New Zealand, Singapore, and more. His expertise spans email outreach, in-depth research, and versatile content creation. He boasts over 600 research projects completed with AskWonder and has successfully led a team of research analysts for two years. He has a diverse portfolio, having supported companies like Casino Tops Online, Sweep Stakes Casino, PayGamble, Odds Scanner US, and Sambafoot UK, demonstrating his proficiency in the iGaming sector. He has contributed as a…

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