Best Money Transfer Services for Business UK: Compared

If your bank handles your overseas payments, you’re almost certainly overpaying. We compared the main UK business money transfer services on the number that decides cost: the FX margin a provider adds to the real exchange rate.

When you pay an overseas supplier or get paid in euros, your bank is probably the most expensive option you have. High-street banks bake a 2.5% to 4% margin into the rate and add a £15 to £30 wire fee on top.

You can cut that to a fraction with the specialists below. We checked every figure against each provider’s own pages and the FCA Register on 2 June 2026.

Money Transfer Services Compared

Your money leaks through the FX margin, so the table ranks providers on it first. A “zero fee” transfer with a 2% margin costs you far more than a small fixed fee on the real rate.

Your actual margin varies by plan, volume and currency pair, so treat these as indicative. None of these specialists are banks, so your money isn’t FSCS-protected — it’s safeguarded instead, which we explain below.

Best Business Money Transfer Services at a Glance

Best Overall: Wise

We rate Wise best overall because it shows you the real cost before you send. You get the mid-market rate and pay a transparent fee from 0.33%, so there’s no margin hidden in the rate.

You can hold 40-plus currencies and receive like a local. The catch is a one-off £50 setup fee to unlock local receiving accounts. For most SMEs, that pays for itself on the first big invoice.

Best Multi-Currency: Airwallex

Airwallex suits you if you hold balances in several currencies and pay suppliers across borders. It charges 0.5% over the interbank rate on major currencies and routes local transfers free to 120-plus countries.

The Explore plan is free if you keep a £10,000 balance, or £19 a month if you don’t. SWIFT payments cost £10 to £20 when local rails aren’t available.

Best All-in-One: Revolut Business

Revolut Business fits if you want FX, cards and expense management in one place. The Basic plan is £10 a month, with Grow at £30 and Scale at £90 unlocking larger fee-free FX allowances.

You exchange at the interbank rate within that allowance, then pay 0.6% above it on Scale, or 0.4% on Grow.

Watch the weekend: when currency markets close, Revolut adds a 1% markup. If you pay a supplier on a Saturday, that surcharge is the cost of not waiting until Monday.

Best for Large or Regular Transfers: OFX and Currencies Direct

If you move large sums or hedge against currency swings, we’d point you to a dealer-led specialist. OFX and Currencies Direct charge no fixed fees and tighten their margin as your volume rises.

Both give you forward contracts to lock a rate for a future payment, and a human dealer to set it up. That matters when a £50,000 supplier bill lands and the pound just dropped 3%.

What Business Money Transfers Really Cost

The FX Margin Is the Real Cost

The margin is the percentage a provider adds to the mid-market rate — the rate you see on Google. A bank quoting “no transfer fee” can still take 3% in the rate, and you never see it leave.

You pay for that hidden margin without ever seeing it leave your account. A transparent provider shows the fee as a line item; a margin provider buries it. Always compare the margin first, the fixed fee second.

Transfer and Fixed Fees

If you make small, frequent transfers, fixed fees still bite even though they’re the smaller part of the picture. Wise charges from about 30p plus its percentage; CurrencyFair adds a flat £3.

When you need the money to land fast, most specialists route through local payment rails (Faster Payments, SEPA), so transfers settle same-day or within one to two days with no intermediary fees. You pay a supplier’s invoice on a Friday and the euros can reach them by Monday morning.

If you must use SWIFT for an exotic currency, expect it to be slower and to lose £15 to £25 to intermediary banks before the money arrives. Use a provider on local rails and you skip that deduction entirely.

Total Cost on a £10,000 Transfer

Here’s what a £10,000 transfer to euros costs once you combine margin and fixed fee. The figures are illustrative — live rates move — but they’re built from each provider’s published 2026 pricing.

That gap is money straight out of your pocket. Move £10,000 through your bank instead of Wise and you hand over hundreds of pounds for the same payment. Do that monthly and it’s a real line on your P&L.

Who Can Use These Services and How Your Money Is Protected

If you’re a limited company or sole trader, most of these providers will take you after standard identity and anti-money-laundering checks. Airwallex generally wants a registered company; Wise and Revolut accept sole traders.

None of them are banks, so your balance isn’t covered by the FSCS — there’s no £85,000 deposit guarantee here. When you pay a supplier from one of these accounts, you’re spending safeguarded e-money, not a protected bank deposit. That’s the trade-off for cheaper FX.

Instead they’re FCA-authorised e-money or payment institutions that must “safeguard” your money: client funds are ring-fenced from the firm’s own and held at a tier-1 bank. If the provider fails, that pool is returned to clients ahead of other creditors.

We checked each provider’s FCA authorisation, and you can verify any of them on the Register before you sign up. Wise is FRN 900507, Airwallex 900876, Revolut 900562, WorldFirst 900508, Currencies Direct 900669, Moneycorp 308919, and OFX (UKForex Limited) 902028.

How to Choose the Right Money Transfer Service

Choose on Margin if You Move Large Amounts

When you send tens of thousands a month, the FX margin dwarfs every fixed fee. Pick Wise for transparency, or a dealer-led specialist like OFX or Currencies Direct whose margin tightens as your volume climbs.

Choose a Multi-Currency Account if You Hold Balances

When you get paid in euros and dollars and pay out in the same currencies, hold them rather than converting twice. Airwallex, Wise and Revolut give you local account details so you receive as a local and convert only when the rate suits you.

Choose Dealer Support if You Hedge

A falling pound can wreck your margins. When that’s a risk, you want forward contracts and a human dealer: Moneycorp, OFX and Currencies Direct let you lock a rate for a future payment, so the price you agree today is the price you pay when the invoice falls due.

Frequently Asked Questions

When you pay overseas suppliers or get paid from abroad, these are the questions that come up most.

How We Reviewed Money Transfer Services