With over 500 providers in the marketplace, the money transfer industry is extremely competitive. But where can you find the best deal?
In this article, I’ll share my insights with you based on extensive real-world testing of sending money abroad to a variety of locations. I’ll cover factors like fees, exchange rates, transfer speed, convenience, and security. I’ll also recommend my top picks for money transfer services.
Whether you’re sending money to a friend or family member in another country or you’re making a business payment, I’ll help you find the best way to get your money where it needs to go.
- What is an international money transfer and how do they work?
- What are the costs?
- What’s the cheapest way?
- Best Choice for Sending 20k or Less
- Best Choice for Sending More than 20k
- The Best Money Transfer Companies: Detailed Reviews
- Fees for Transferring Money Internationally
- Money Transfer Recipient Options
- How to get the best deal
- Safety and Security of Money Transfers
- Best Money Transfer Providers by Country
- Are there any money transfer restrictions for UK business owners?
- What other ways than a money transfer service can I send money abroad?
What is an international money transfer and how do they work?
An international money transfer is a financial transaction in which money is transferred from one bank account to another in a different country. This can be done through a variety of methods, including bank wire transfers, money transfer services, and online platforms.
To initiate an international money transfer, the sender will need to provide the recipient’s bank account information, the amount of money to be transferred, and the exchange rate. The sender will also need to pay a fee, which is typically charged by the bank or money transfer service.
The transfer process can take a few days to complete, depending on the method used. Bank wire transfers typically take the shortest amount of time, while online platforms can take longer.
The exchange rate used for an international money transfer is the rate at which one currency is exchanged for another. This rate can fluctuate, so it is important to compare rates from different providers before making a transfer.
What are the costs when sending money abroad?
There are a few different costs associated with sending money abroad. These include:
- Transfer fees: This is the fee charged by the money transfer provider to process the transaction. This can vary depending on the provider, the amount of money being transferred, and the destination country.
Sample Fee: With a provider like Western Union, you might incur a fee of £3.99 for a £100 transfer to a country like India, while using a digital-first platform like TransferWise may charge around £0.80 for the same transaction.
- Exchange rate margin: This is the difference between the mid-market exchange rate (the rate at which banks and other financial institutions exchange currencies between themselves) and the rate that the money transfer provider offers to customers. This is how the money transfer provider makes a profit.
Sample Fee: For example, if the mid-market rate for USD/GBP is 1.35, a service provider might offer a rate of 1.33. The difference of 0.02 per dollar transferred is their margin. On a £1,000 transfer, that would equate to a £20 charge.
- Recipient fees: The recipient’s bank may also charge a fee to receive the money. This fee can vary depending on the recipient’s bank and the destination country.
Sample Fee: For instance, a bank in the United States may charge around $15 to $25 for incoming international wire transfers.
What’s the cheapest way to transfer money abroad?
The cheapest way to transfer money abroad depends on a few factors, including the amount of money being transferred, the destination country, and the speed of transfer.
However, some of the cheapest ways to transfer money abroad include:
- Online money transfer services: Online money transfer services like Wise and Xe typically offer low fees and good exchange rates. They form the real focus of this article.
- Peer-to-peer money transfer services: Peer-to-peer money transfer services like ike Venmo, CashApp, and PayPal focus on consumer transactions between friends, family, and acquaintances. This can be a cheaper option than using a traditional money transfer provider but less cost-effective for businesses. They also require both parties to be members of the platform.
- Bank transfer: While bank-to-bank transfers may seem straightforward, they often entail hidden charges and less favourable exchange rates, unless you are a Revolut customer. Revolut’s model minimises fees, offering a distinct advantage over conventional banks.
- Cash pickup: Cash pickup services allow you to send money to a recipient who can pick it up in cash at a local agent location. This can be a convenient option, but it can be more expensive than other methods.
Top Money Transfer Services in the UK: My Verdict on the Best Ways to Send Money Abroad
Unsurprisingly, there’s no clear ‘best’ money transfer service since there are a number of top players vying continually to offer the most competitive rates and customer service.
The best for will depend on how much you want to send, where you want to send it to, and what kind of customer service works for your situation.
That said, certain brands do stand out for their ease of use, speed of transfer and competitive rates. These are certainly adequate for a large part of the money transfer market if cost and efficiency are a chief concern.
For smaller amounts Wise, Revolut, TransferGo and Xe are some of my favourites. I’ll explain further down which of these excel in which particular situation.
Above a certain threshold, other brands, such as Currencies Direct and Torfx, come into their own. They are more price competitive at figures of 50k and above, and their offering of a dedicated account manager, whom you can email directly at any time, is crucial to their value. Their Trustpilot scores are the best in the industry, which speaks volumes about how their customers feel about them.
How to Compare Money Transfer Services
While cost is the primary factor in most people’s minds, I suggest you look a little further when judging which to use. While many of the top providers are close on fees, the level of customer service varies considerably, as does the transfer times based on location.
My chief areas of focus are:
- Fees: Compare flat fees, percentage fees, and any other charges across providers. Lower fees can mean major savings.
- Exchange Rates: The exchange rate determines how much money the recipient gets. Compare rates across providers to get the best deal.
- Transfer Speed: If you need fast delivery, compare providers’ transfer times. Some offer same-day or next-day service.
- Convenience: Look for an easy-to-use website, app, online transfers, and location options to find the most convenient provider.
- Security: Only use providers with strong security like fraud protection, encryption, and segregated customer funds for safety.
- Reputation: Opt for an established provider with a solid track record of good customer service. Check reviews online.
- Customer Support: Good customer support can provide help if any issues arise. Compare availability and responsiveness.
- Features: Consider special features like multi-recipient transfers or recurring payments if those match your needs.
The Best International Money Transfer Providers for Sending 20k or Less
Here’s my rating for the best international money transfer companies, with an overall score listed.
|Remitly||Very Good||Cheapest||Very Fast||95/100||Visit Remitly|
|CurrencyFair||Very Good||Excellent||Fast||95/100||Visit Currencyfair|
|TransferGo||Very Good||Good||Very Fast||90/100||Visit TransferGo|
|XE||Very Good||Good||Fast||90/100||Visit XE|
|Revolut||Very Good||Fair||Very Fast||85/100||Visit Revolut|
|InstareM||Very Good||Average||Fast||80/100||Visit Instarem|
|Skrill||Good||Excellent||Very Fast||75/100||Visit Skrill|
The Best International Money Transfer Companies for Sending More than 20k
Here are the top choices for money transfer companies offering a more bespoke service, dedicated account managers, easy contact by phone or email, and specialist solutions like spot trade and forward contracts.
If you’re sending a larger amount abroad, perhaps to buy a property or another sizeable transaction, these services are set up to support you. They are respected, regulated and professional.
|Service||Fees||Exchange Rates||Transfer Speed||Visit Site|
|Currency Direct||Flat fee + percentage fee||Close to mid-market||1-3 business days||Visit Currency Direct|
|Torfx||Flat fee + percentage fee||Variable||Same-day or next-day||Visit Torfx|
|Key Currency||Flat fee||Close to mid-market||1-3 business days||Visit Key Currency|
The Best Money Transfer Companies: Detailed Reviews
Wise: Best Overall Money Transfer Company
Wise (formerly TransferWise) is a superb online money transfer service that offers low fees, transparency, and mid-market exchange rates.
Overall, I highly recommend Wise: it was a pioneer in making transfers affordable, but it has kept evolving since then, with a fast and very efficient service in 2023.
It can be slower than certain competitors for particular locations (2-3 days), and you may also find it cheaper if you look hard enough, but for a huge company, it does a lot very well.
In addition to its low fees and transparent pricing, Wise also offers a number of other features that make it a valuable tool for international money transfers. These features include:
- A multi-currency account: This allows users to hold, manage, and transfer money in multiple currencies, which can be helpful for travellers and businesses.
- A debit card: This is linked to a multi-currency account, making it easy to spend money internationally.
- A focus on security: Wise is committed to security and regulatory compliance. This means that users can be confident that their money is safe with Wise.
- A track record of fast, reliable transfers: Wise has a track record of fast, reliable transfers. This means that users can be confident that their money will arrive when they need it.
- Plenty of available pay-in options.
- Extremely competitive fees and exchange rates
- Full transparency
- Fast transfer times
- Wide network
- Secure –
- Smooth transfers
- Good reviews
- No cash pickup
- Extensive identity verification is required
- Upper limits on transfer amounts
- Weekend/holiday markup
- Possible inbound fees charged by recipient banks
- Not always the cheapest
Remitly: Cheapest Overall Money Transfer Company
Remitly is a fantastic money transfer service that is known for its speed, convenience, and customer-centric approach.
It’s trusted, credible, well-rated and certainly one of the cheapest. In my testing, it often came out as the best-priced provider out of any on the market. My only small caveat is that it could use slightly more transparency about the way it hides some of the fees into the exchange-rate margin. Nevertheless, this is a common industry practice, so I don’t mark it down too much for that.
One of Remitly’s defining strengths is its flexibility. Users can choose from a variety of delivery options, including direct bank deposits, cash pickups, mobile money, and home delivery. This makes Remitly a versatile choice for users with diverse needs.
Remitly also offers express and economy transfer options, allowing users to choose between faster delivery or lower fees. This gives users more control over their money transfer experience.
Remitly’s user interface is intuitive and straightforward, and the mobile app offers real-time updates for tracking transactions. This makes it easy for users to keep track of their money transfers and know when their recipients will receive the funds.
On top of that, Remitly ensures robust security measures, including 24/7 transaction monitoring and secure encryption technology. This guarantees a secure and reliable money transfer experience for users.
- Excellent fees and exchange rates – Often the cheapest provider available.
- Numerous cash pickup locations
- Fast transfers
- Send to over 90 countries from major origin countries.
- Responsive support – Quick to resolve any issues mentioned in reviews.
- Over a third of fees are buried non-transparently in exchange rates.
- Can only send from certain countries like the US, Canada, UK.
- Recipients must have a bank account in most cases.
- Additional credit card processing fees may apply.
- Daily and monthly limits on transfer amounts.
- Extensive identity verification is required.
- Fast processing: They offers fast processing times for money transfers, with many transfers completed within 24 hours.
- Money-back guarantee: Skrill offers a money-back guarantee if transfers are not completed due to technical issues on their end.
- Merchant services: Skrill allows users to make payments to a global network of online merchants using their account balance.
- Foreign exchange fees: Currency exchanges through Skrill often incur higher fees compared to banks or other money transfer services.
- Account limits: There are deposit and withdrawal limits in place on Skrill accounts.
- Limited payment options: Skrill has fewer payment method integrations compared to some competitors.
- Customer support responsiveness: Long wait times and inconsistent resolutions have been reported for Skrill customer support.
TransferGo is a relatively new money transfer company that has quickly gained popularity due to its low fees and fast transfer times. The company’s platform is user-friendly and its transfer process is straightforward. Transfers are typically completed within 1-2 business days, which is much faster than many banks. The exchange rates are also competitive compared to other providers.
However, there are some downsides to using TransferGo. The company does not offer as many currency pairs as some other providers, so you may not be able to find the currency you need to transfer. Additionally, customer service response times can be slow, which can be frustrating if you need help with a transfer.
Overall, TransferGo is a good option for international money transfers where speed and low fees are important. However, for transfers to less common currencies, you may want to consider a different provider.
Revolut also has robust security protocols in place, including strong customer authentication and device insurance.
Last but not least, its customer service is genuinely good, reflecting in it’s very high Trustpilot rating.
XE Money Transfer
XE Money Transfer is one of the top FX companies in the world for a reason; they offer a speedy, convenient, and transparent way to send money to over 170 countries in over 60 currencies. Their exchange rates are not quite as transparent as I would like, but nevertheless, they remain broadly competitive.
I have found XE to be professional, reliable and reasonable, but they are not the very cheapest provider you’ll find.
XE’s key strengths include:
- Speed: XE transfers are mostly completed within one business day, making them one of the quickest
- Convenience: Send through the XE app, or by phone.
- Customer support: 24/7 customer service helps with any questions or problems.
- Cash pickup – With 500,000 locations at its disposal, the huge XE network is one of their biggest strengths.
Revolut is a digital banking platform as opposed to simply a currency exchange company, but FX is at the heart of their offering. Here at Business Expert, we’ve written a lot about Revolut, recommending both personal and business accounts in addition to their competitive money transfer functionality.
One of Revolut’s key strengths is its global reach. Revolut users can send and receive money in 200+ currencies at far cheaper rates than traditional high-street banks offer. This makes Revolut a great option for travellers and businesses that need to make international payments.
According to my testing, Revolut’s app is one of the best on the market. It’s a doddle to use and provides a clear view of fees and exchange rates. Users can also track their spending, set spending limits, and freeze or unfreeze their cards with just a few taps.
In addition to its core money transfer services, Revolut also offers a number of other features:
- Cryptocurrency exchange: Buy, sell, and hold Bitcoin, Ethereum, and other cryptocurrencies.
- Budgeting tools: Revolut does a good job with its budgeting tools, such as spending categories, spending alerts, and savings goals.
- Disposable virtual cards: RCreate disposable virtual cards that can be used for online purchases and help with fraud protection
Instarem is a global money transfer company that offers a fast, secure, and convenient way to send money overseas. The company’s platform is user-friendly and its transfer process is straightforward. Transfers are typically completed within minutes or hours, which is much faster than many banks. The exchange rates are also competitive compared to other providers.
However, there are some downsides to using Instarem. The company does not offer as many payment options as some other providers, so you may not be able to use your preferred method to pay for your transfer. Additionally, customer service response times can be slow, which can be frustrating if you need help with a transfer.
Overall, Instarem is a good option for international money transfers where speed and convenience are important. However, for transfers to less common currencies or using less common payment methods, you may want to consider a different provider.
MoneyCorp, the second-largest broker in the UK, has been around since 1962.
The company’s platform is reasonably though not excessively user-friendly and its transfer process is straightforward. Transfers are typically completed within 1-2 business days, which is good.
Overall, the exchange rates are competitive compared to banks but they’re not the industry’s cheapest. What I like about them is the ability to work with a personal account manager, which really works for a certain type of customer.
However, there are some downsides to using MoneyCorp. The transfer fees can be high, especially for smaller amounts. The company also does not offer a wide range of currency pairs, so you may not be able to find the currency you need to transfer. Additionally, customer service response times can be slow, which can be frustrating if you need help with a transfer.
Overall, MoneyCorp is a good option for larger transfers where the exchange rates help justify the fees. However, for smaller amounts, you may want to consider a different provider that offers lower fees and a wider range of currencies.
Skrill is a versatile online money transfer service with extensive reach, but may not be the most cost-effective or customer service-oriented option for all users.
- Fast processing: Skrill offers fast processing times for money transfers, with many transfers completed within 24 hours. This enables users to send and access funds quickly, which is a major convenience for many people.
- Money-back guarantee: Skrill offers a money-back guarantee if transfers are not completed due to technical issues on their end. This provides reassurance to users that their money is safe and that they will be refunded if something goes wrong.
- Merchant services: Skrill allows users to make payments to a global network of online merchants using their account balance. This is a convenient way to shop online, and it can also save users money on transaction fees.
- Foreign exchange fees: Currency exchanges through Skrill often incur higher fees compared to banks or other money transfer services. This can reduce the cost-effectiveness of using Skrill for international payments.
- Account limits: There are deposit and withdrawal limits in place on Skrill accounts. These limits may be restrictive for some users, depending on their needs.
- Limited payment options: Skrill has fewer payment method integrations compared to some competitors. This means that users may not be able to use Skrill to pay for goods or services that they want to purchase.
- Customer support responsiveness: Long wait times and inconsistent resolutions have been reported for Skrill customer support. This can be frustrating for users who need help with their account or a transaction
WorldRemit is a major money transfer service which does a good job without being one of my top choices. I would like to see greater fee transparency and slightly cheaper rates for it to be ranked more highly.
That said, WorldRemit enables users to send money to over 150 countries in more than 90 currencies. The platform offers a decent variety of delivery options, including bank deposits, cash pickups, mobile money, and even airtime top-ups. This makes WorldRemit a good choice for many, and their customer support is usually very good.
WorldRemit’s user-friendly interface on both its website and mobile app makes initiating and tracking transactions easy and efficient. The service also stands out for its low minimum transfer amounts, making it an excellent choice for small transfers.
WorldRemit prioritizes security, using trusted encryption technologies to ensure the safety of its users’ transactions. This makes WorldRemit a trusted and reliable option for sending money internationally.
Understanding the Fees for Transferring Money Internationally
When you transfer money internationally, you may be charged a number of fees, including:
- Transfer fee: This is a fee charged by the money transfer provider or your bank for processing the transfer. The amount of the transfer fee will vary depending on the provider or bank, the amount of money you are sending, and the destination country.
- Exchange rate margin: This is the difference between the mid-market exchange rate (the rate at which banks and other financial institutions trade currencies) and the rate you are offered when you transfer money. The exchange rate margin is typically around 5%, but it can be higher or lower depending on the provider or bank.
- Recipient fee: The recipient of the transfer may also be charged a fee by their bank or other financial institution. The amount of the recipient fee will vary depending on the country and the bank.
In addition to these fees, you may also be charged a wire fee if you are transferring money through a wire transfer. Wire fees are typically around $25, but they can be higher depending on the provider or bank.
The total cost of transferring money internationally can vary depending on the factors mentioned above. It is important to compare the fees charged by different providers or banks before you make a transfer.
Money Transfer Recipient Options
When you send money abroad, you will need to choose a recipient option. There are a few different options available, including:
- Bank account: This is the most common recipient option. The money will be deposited directly into the recipient’s bank account.
- Cash pickup: The recipient can pick up the money in cash at a local agent location. This can be a convenient option, but it can be more expensive than other methods.
- Mobile wallet: The recipient can receive the money in their mobile wallet. This can be a convenient option, but it may not be available in all countries.
- Gift card: The recipient can receive a gift card that they can use to purchase goods or services. This can be a convenient option, but it may not be the most cost-effective.
The best recipient option for you will depend on the needs of the recipient and the money transfer provider you are using.
Here are some factors to consider when choosing a recipient option:
- The recipient’s needs: The recipient may have a preference for a particular recipient option. For example, if the recipient does not have a bank account, they may need to choose cash pickup.
- The money transfer provider’s fees: Different money transfer providers may charge different fees for different recipient options. It is important to compare the fees of different providers before making a transfer.
- The speed of delivery: Some recipient options are faster than others. If you need the money to arrive quickly, you may need to choose a different recipient option.
- The security of the transfer: Some recipient options are more secure than others. It is important to choose a recipient option that is secure and protects the recipient’s privacy.
How to get the best currency transfer deal
Here are some steps to secure the best currency transfer deal:
- Conduct market research:
- Compare providers: Investigate various service providers, including banks, online money transfer services, and currency brokers. Each has its own fee structure, exchange rates, and speed of transfer.
- Read reviews: Customer reviews and professional evaluations can give you an idea of a provider’s reliability and cost-effectiveness.
- Understand the cost components:
- Exchange rates: The rate at which one currency is converted into another is crucial. Compare the offered rate to the market rate to assess its competitiveness. Some providers offer rate locks or forward contracts to secure rates for future transfers.
- Fees and charges: Understand the complete fee structure, which can include flat fees, percentage-based fees, and additional charges for expedited services.
- Negotiate and secure special arrangements:
- Volume discounts: If you’re transferring large sums or making frequent transactions, negotiate for lower fees or better rates.
- Hedging options: Providers like currency brokers offer hedging instruments such as forward contracts and options to protect against currency risk.
- Consider the timing and strategy:
- Market timing: If possible, make transfers when exchange rates are in your favour. Real-time alerts from financial news services can inform these decisions.
- Batching: Combine smaller transactions into larger ones to potentially reduce per-transaction fees. However, consult your provider on the most cost-effective batch sizes.
- Do a trial transfer and monitor the process:
- Initial transfer: Consider doing a smaller trial transfer first to understand the full process, the time it takes, and the effective rate and fees you will incur.
- Monitoring tools: Utilise tools provided by the service to track the transfer. Ensure the funds arrive in the recipient account and tally the costs to confirm they align with initial quotes.
- Consult with experts:
- Financial advisor consultation: For substantial or complex transactions, it may be beneficial to consult with financial advisors who can provide tailored strategies for currency transfers.
- Legal compliance: Ensure that the method of transfer you choose complies with the UK’s anti-money laundering and counter-terrorism financing regulations, especially for large sums.
Safety and Security of Money Transfers
Money transfers can be a safe and secure way to send money internationally. However, there are some risks involved, such as fraud and scams. Here are some tips to help you stay safe when making a money transfer:
- Choose a reputable money transfer provider: Do your research and choose a money transfer provider that has a good reputation and security measures in place.
- Be wary of unsolicited emails and text messages: Never click on links or open attachments in unsolicited emails or text messages. These messages may be from scammers trying to steal your personal information.
- Only use secure websites: When making a money transfer online, make sure you are using a secure website. Look for the https:// at the beginning of the website address and a padlock icon in the address bar.
- Check the recipient’s details carefully: Before making a money transfer, make sure you check the recipient’s details carefully. This includes their name, address, and bank account number.
- Keep a record of your transfer: Keep a record of your money transfer, including the date, amount, and recipient’s details. This will help you if you need to track your transfer or dispute a transaction.
Best Money Transfer Providers by Country
The table below shows our recommendations for the best providers for popular country pairs based on factors like exchange rates, fees, transfer speed, and recipient options. Selecting the best provider for your specific transfer corridor can save you time and money.
|Region||Country Corridor||Best Provider||Website|
|Americas||US to India||Remitly||remitly.com|
|Americas||US to Canada||Currencyfair||currencyfair.com|
|Americas||US to Mexico||Remitly||remitly.com|
|Americas||Canada to US||Wise||wise.com|
|Americas||North America to Europe||Currencyfair||currencyfair.com|
|Americas||South America to North America||Global66||global66.com|
|Americas||North America to South America||Remitly||remitly.com|
|Europe||UK to Poland||Remitly||remitly.com|
|Europe||Europe to North America||Currencyfair||currencyfair.com|
|Asia||Asia to Europe||Remitly||remitly.com|
|Asia||Asia to North America||Wise||wise.com|
|Asia||From Brazil||Remessa Online||remessaonline.com.br|
Are there any money transfer restrictions for UK business owners?
Yes, there are a number of restrictions and regulatory considerations that UK business owners should be aware of when making international money transfers. These include:
- Anti-money laundering (AML) and counter-terrorism financing (CTF) compliance: UK financial institutions are required to monitor transactions and report suspicious activities. Transfers exceeding a certain amount, typically £10,000, may trigger additional scrutiny and require further documentation to justify the transfer.
- Sanctions: The UK abides by international sanctions set by organisations like the United Nations and the European Union, as well as its own national sanctions. Transfers to entities in countries under sanctions, such as North Korea or Iran, are generally prohibited.
- Local regulations: The receiving country may also have restrictions on incoming transfers, such as maximum allowable amounts or requirements for declaring the source of the funds.
- Service provider restrictions: Different service providers have their own limitations, such as:
- Transaction limits: Minimum and maximum amounts that can be transferred.
- Currency restrictions: Not all currencies are supported by every service provider.
- Payment methods: Limitations on the types of payment methods that can be used to fund a transfer.
- Type of recipient: Some platforms impose different restrictions based on whether the recipient is an individual or a business.
- Time constraints: Transfers may be restricted to business hours or may take longer to process in certain cases.
- Documentation requirements: KYC (Know Your Customer) procedures often require comprehensive documentation for both the sender and recipient, especially for large transactions or new accounts.
What other ways than a money transfer service can I send money abroad?
Sending funds abroad is a critical function for many businesses that operate on an international scale. There are a number of methods available, each with its own advantages and disadvantages in terms of cost, speed, and security.
Bank wire transfers are a common choice for large sums. They are typically secure and reliable, but can be slow and expensive.
Foreign currency accounts allow businesses to hold different currencies, which can help to mitigate currency exchange risks. However, these accounts can be expensive to set up and maintain.
Digital wallets like PayPal, Skrill, and Neteller offer a quick and convenient way to send money internationally. However, they may have limits on the amount that can be transferred and can charge fees.
Cryptocurrency transfers can be a fast and low-cost way to send money overseas. However, the recipient must be able to convert the cryptocurrency into their local currency, and there is always the risk of volatility.
Foreign exchange brokers can provide businesses with competitive exchange rates and hedging options to protect against currency fluctuations. However, they may not be suitable for all businesses, as they typically require large minimum transactions.
Postal money orders are a secure way to send money internationally, but they can be slow and expensive.
Prepaid debit cards can be a convenient way to send money to someone who does not have a bank account. However, they may have high fees and can be difficult to use in some countries.
Peer-to-peer platforms connect individuals who want to exchange currencies directly. This can be a cost-effective way to send money internationally, but it is important to do your research to ensure that the platform is reputable.
The best method for sending funds abroad will vary depending on the specific needs of the business. It is important to consider factors such as the amount of money being sent, the speed of transfer, the security of the method, and the fees involved.
Here are some additional tips for choosing the best method for sending funds abroad:
- Get quotes from multiple providers to compare fees and exchange rates.
- Consider the speed of transfer required. Some methods are faster than others.
- Make sure the method is secure. You should only use reputable providers.
- Be aware of any fees that may be charged by the recipient’s bank.