Top 7 Best International Money Transfer Apps

Send money overseas with WorldRemit to take advantage of bank-beating exchange rates

Updated Jul 09, 2024

By RemitFinder

7 Best International Money Transfer Apps

Additional Options

If you are looking for the best way to send money overseas, you have come to the right place.

In this article, we will discuss seven of the best international money transfer apps available today. Each app has its own unique features, so it is important to do your research before deciding which one is right for you.

7 Best International Money Transfer Apps

When it comes to transferring money overseas, there are a few things you should consider. You will need to make sure the recipient will be able to receive the funds, that the exchange rate is favorable, and that you won't be charged an arm and a leg in fees.

There are several apps that can help you with this. Here are the top seven best international money transfer apps, so you can pick the best one for your money transfer needs.

1. Wise (formerly Transferwise)

Wise was designed to make it more affordable, quicker, and simpler to do foreign currency transactions. You can open a Wise account online or in the app, send payments to more than 80 countries, hold and exchange 50+ currencies, and get paid using your own bank details for 10 different currencies.

Wise works in a way that differs from banks and conventional exchange services. Wise was able to drive down the costs of international transfers by establishing its own payment system and passing these savings on to consumers through lower, more transparent fees and a higher exchange rate.

Benefits of using Wise include:

Send money to anyone in 80+ supported countries
Relatively higher exchange rates that are closer to the mid-market exchange rate
Transfer funds to the foreign country by paying bills or a mortgage
More than 50 currencies are supported for currency deposits and withdrawals
Get paid in your currency of choice: AUD, GBP, USD, EUR and many others
Easily send money to those you have sent to in the past with a few clicks
Pay with Google Pay or Apple Pay

2. Revolut

Revolut is an online money transfer service that allows users to send funds quickly, easily, and affordably across numerous international destinations.

One of the best things about Revolut is that you will get a high exchange rate which may be close to the interbank exchange rate. The FX Markup charged by Revolut is low, and this only means that you get more bang for your buck. Plus, their fees are fully transparent so you will never get surprised.

Revolut has no sending limits either, which makes it an attractive choice to send high value transfers. Many companies have low sending limits in place which forces you to split your larger transfers into small transactions, so no limits with Revolut are very convenient for high value transfers.

Benefits of using Revolut include:

Access to tons of additional services with your Revolut account
You can send money from more than 35 countries to over 150 global destinations
Good exchange rates with transparent fees; no hidden fees
No transfer limits making Revolut a great choice for sending large amounts overseas
Super quick money transfers that can finish instantly or within minutes
Many flexible options to pay for your international money transfer

3. WorldRemit

WorldRemit, which has been operating for more than ten years, enables international transfers from more than 50 different currencies to more than 140 different nations.

There are currently offices for the corporation in the US, the UK, Canada, Australia, New Zealand, South Africa, Singapore, the Philippines, Japan, Nigeria, Cameroon, and Poland.

WorldRemit has more than 800 employees all around the world.

WorldRemit enables you to send money online to your family and friends residing abroad. Compared with other options, sending money with WorldRemit is quicker and less expensive. WorldRemit is a good option if you need to send money internationally regularly.

Benefits of WorldRemit include:

Strong corridor support with more than 50 sending countries and over 130 receiving countries worldwide
Send cash to recipients in a matter of minutes, regardless of their location
Send money to mobile wallets (not available in every country)
Home delivery option available (not available in every country)
Purchase airtime top-ups to be sent directly to loved ones
Establish bank-to-bank and card-to-card transfers (prepaid cards accepted)
Particularly good reviews from customers across various rating and review platforms

4. XE Money Transfer

XE has made it possible to seamlessly transfer money to more than 130 countries in 98 global currencies. Being a veteran in the currency exchange business, XE understands foreign exchange like no one else.

Their excellent service comes at a low cost to the customer; you pay an exceedingly small fee for smaller transfer amounts, and none for larger ones. For example, in the United States, you pay a USD 3 fixed fee for transfers below USD 500, and no fee for transfers above that amount.

XE's exchange rate margins are also significantly lower than those offered by banks and other financial institutions, making it a great choice for consumers who want to save money on their transfers.

Another big advantage of XE is that there are no transfer limits in place. This means you can send as much amount as you want in a single transaction. Coupled with their great rates and low fees, this is a convenient way to send higher amounts overseas.

Key benefits of XE include:

Send money to more than 130 countries worldwide in 98 different currencies
Good exchange rates and extremely low fees (0 fees for sending above low minimum thresholds)
No transfer limits make XE a great choice for sending large amounts abroad
Specializes in quick money transfers; your money can reach overseas within minutes sometimes, or within 1-4 business days
Cash pickup support recently added in the XE mobile app
View historical charts for currency pairs from around the world
Set rate alerts and get notifications when rates change

5. Instarem

Instarem is a fintech company founded in 2014 in Singapore and has grown by leaps and bounds since inception. Currently, you can send money in about 10 currencies to over 50 countries worldwide.

Instarem provides extremely competitive exchange rates with a low FX Markup that is generally less than 1%. This, coupled with their low fees, makes it an exceptionally good choice for saving more on your next international money transfer.

Other advantages of using Instarem include very high or no sending limits, and extremely quick transfers. Most Instarem money transfers finish instantly, and the remaining within 4 business days. So, if you need to send money abroad fast, you can rely on Instarem as a good partner.

Benefits of Instarem include:

Ability to send money to more than 50 countries; new countries also keep getting added as the company continues its growth
Good exchange rates and low, transparent fees
High or no sending limits to various countries
Most transfers complete instantly, and the rest within 4 business days
Numerous payment methods supported including local payment methods in many countries
Delivery options include bank deposit, cash pickup and card transfers
Many attractive coupons and promotions for RemitFinder users

6. OFX

OFX is another veteran in the international foreign exchange business with more than 20 years' experience and over 1 million customers till date. You can send money with OFX to more than 170 countries in over 50 global currencies.

OFX does have an AUD 15 fee is you send less than AUD 10,000 with them, but there are ways to avoid this fee. For example, RemitFinder users get their first 10 money transfers free with OFX – this is a great way to save up to AUD 150 in transfer fees!

Another significant advantage of using OFX is that there is no limit to the amount of money you can send overseas. This makes OFX a great choice for high value transfers needed for investments, businesses, purchasing property overseas, etc.

Key benefits of OFX include:

Ability to pay for your transfer with many flexible options including local payment methods in some countries
Competitive exchange rates – fees are high though, but can be avoided by taking advantage of promotions
No transfer limits making OFX a great choice for large transfers
Ability to make direct tax payments to the Australian Taxation Office (ATO) as well as the Inland Revenue Department (IRD) in New Zealand
Strong focus on security to always protect your money and information
Good ratings on Trustpilot as well as mobile app stores indicating that customers like their service
Forward contracts and limit orders available to add more flexibility for your money transfer needs

7. Paysend

Paysend was established in 2017 and has been on a mission to connect individuals and business alike by making it easier to move money overseas.

The unique thing about Paysend is that they tap into 12 billion global cards powered by Mastercard, Visa, China Union Pay and many other regional and local providers. This helps them move money easily from one card to another via the globally connected card network.

You can send money with Paysend from 50 countries to 150 nations worldwide. Exchange rates are highly competitive and continue to increase as the transfer amount increases.

Plus, you pay low, flat fees. For example, if you send money from the UK with Paysend, you pay a flat fee of GBP 1 regardless of the transfer amount. This makes Paysend a very cost-effective option to send money overseas.

Since Paysend taps into the globally connected card networks, your money transfer can finish in as fast as 20 seconds! Since almost everyone has a card these days, this makes it quick and easy to pay your overseas recipients.

Key benefits of Paysend include:

Rapid transfers that can finish in as fast as 20 seconds
Global reach and access to more than 12 billion cards – this helps you send money to almost anyone anywhere as long as they have a card
Low, fixed fees and competitive exchange rates – fees do not increase with amount, thereby making Paysend a cheap way to send money overseas especially for larger transfers
Strong emphasis on security and safety, thereby giving you peace of mind
Excellent customer reviews and feedback indicating good service
Comprehensive corridor coverage than spans 50 sending countries and 150 receiving countries

These are our top 7 picks when it comes to international money transfer apps.

There are many other good money transfer companies available which may also fit your needs. Check out our money transfer comparison engine to quickly and easily compare numerous money transfer companies.

In the next section, we will look at few other options to send money.

Additional Options

Here are some other options to send money overseas that you should be aware of as well:

1. PayPal

PayPal is a popular payment service that allows you to send money and purchase goods online. It also offers international money transfers as a service, which is a useful feature given its global presence and a large user base.

Whilst PayPal can be useful to send money overseas given its convenience, you should be aware that there are fees involved.

For example, if you send money from the United States, the fee is 5% of the transfer amount with USD 0.99 minimum and USD 4.99 maximum. Note that if you pay with a credit card, your credit card company may also charge you an additional cash advance fee.

Additionally, you will also end up paying a hidden fee on international money transfers with PayPal in the form of a low exchange rate. PayPal's retail exchange rate usually has a 3-4% FX Markup over the mid-market or interbank exchange rate. This is fairly high, and you will lose money on currency conversion.

Overall, we do not recommend using PayPal for international money transfers due to the fees involved and the low exchange rate you will get.

Whilst PayPal is convenient for local purchases, we do not recommend it for international money transfers gives high transfer fees and low exchange rates.

2. Venmo

Venmo is a popular mobile payment app that is owned by PayPal. They offer an easy way to send and receive money. Additionally, you can use Venmo to pay for goods and services online.

One thing to keep in mind is that Venmo doesn't work internationally. You can only send money to someone within the United States with Venmo money transfers.

If you wish to send money internationally, there are many good alternatives to Venmo that you can consider.

3. Wire Transfer via Bank

Finally, you can always send an international wire transfer using your bank. Wire transfers are secure, convenient and generally have high or no limits to the money you can send.

The problems with wire transfers are twofold:

First, most banks charge high fees for sending wire transfers. For example, sending an international wire from the United States can cost you anywhere from USD 25-50 per transfer.
Second, banks provide low exchange rates. You will, thus, end up paying for bad exchange rates in the form of hidden fees that will lower your payout.

Wire transfers come with high fees and very low exchange rates, so we suggest using other alternatives like money transfer companies.

Given these factors, we recommend you consider alternatives like the best money transfer apps we presented earlier. You will end up saving a lot more money with specialist money transfer apps vs sending money with your bank.

Conclusion

In this article, we presented some of the best international money transfer apps out there. Be sure to do your research before you decide which one is right for you.

And always remember to compare exchange rates and fees before you make a transfer.

Do You Need To Find the Best Remit Exchange Rate for Sending Money Internationally?

RemitFinder is an online service that helps you track remit exchange rates. By checking and comparing the latest remit exchange rates, you can get the best exchange rate for your money transfers. RemitFinder, thus, helps you to get the best return for your hard-earned money.

Find the cheapest rate to transfer your hard-earned money - visit our site or download the app on Google Play or Apple App Store now.