9 Best International Money Transfer Platforms

International Money Transfer Platforms 8

Transferring money to a loved one abroad can be a difficult process to say the least. Luckily though, we’ve compiled some of the best international money transfer facilitators so you can get the best bang for your buck. Any of these nine services will successfully convert your currency and send it safely to a destination or recipient of your choice.

Below, we’ll compare each service in detail so that you can find the best international money transfer app for your needs.

International Money Transfer Platforms 5

 

1. Ria Money Transfer

Ria money transfer is one of the most reliable, best international money transfer apps. Their network reaches over 140 countries. However, it should be noted that their online transaction limit is notably smaller than most, capping out around 2,300 USD. You can pay in person for these transactions at compatible 7-Eleven vendors though.

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2. TorFX

TorFx offers great customer service, making them an excellent business to transfer money through. The service has offices in the UK and Australia, allowing you to pay for the transaction fee in person depending on your location. TorFx has very competitive rates and works as an ideal vendor for anyone looking to complete their money transfers mainly online.

3. Remitly

Remitly is one of the most secure international money transfer services. Their online international platform allows you to send money to about 40 different countries. While they have excellent customer support and security, they may not have the most competitive rates on the market. However, for a guaranteed safe-transfer, they are an excellent choice for the job.

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4. InstaReM

InstaReM is known for its great low rates and excellent customer support. This online platform is perfect for users who want to send money online directly, without taking on extra fees that may be tacked onto physical money transfer locations. While the company doesn’t harbor a whole lot of relative countries, they are expanding rapidly, making them a great money transfer service to keep in mind if they don’t already offer service in the areas you want to transfer funds to or from.

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5.Western Union

You’ve most likely seen a Western Union or two when shopping at the grocery or convenience store. While the organization does boast an unmatched network of over 200 compliant countries, its trading fees tend to be slightly higher than average. However, if you need to send off physical money or pay for their fees in person, it may be the most convenient choice depending on your location.

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6. Veem

Veem is an excellent way to send money globally for international business or to your loved ones. They’ve built up a reputation for being a cheap solution, and the company has customer service on the ready to help with any money transfer issues or concerns. However, with no physical location, Veem can be limited for some users.

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7. CurrencyFair

CurrencyFair allows you to send large sums of money at a fraction of the usual exchange rate. That being said, they are somewhat limited in their reach with access to about 20 currencies. Since there aren’t any physical branches, you’ll be able to transfer at a smaller price. However, this lack of branches can be extremely inconvenient for some users, so consider CurrencyFair if you don’t need to transfer physical funds.

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8. Moneygram

Moneygram is one of the most well-known international money transfer bases. These facilities are located all throughout the country. Plus, with their international money transfer app, you can process transactions directly through your phone. The downside is, Moneygram can be relatively pricey in comparison to other options. While they may be convenient, they may not be the best for long-term transfer use.

9. OFX

OFX is one of the most common international money transfer providers and with good reason. They offer 24-hour customer service, which makes it easy for users to communicate directly with the company should they have any questions. Their extensive network allows you to send to a wide range of countries and in many different currencies. However, the company is somewhat limited in its accessibility. The site is only available in six different languages as of 2020, which could make it more difficult to use for some international recipients.

Finding the best international money transfer platform can be difficult, but ultimately, it depends on your needs. Make sure you’re communicating preemptively to your recipient or business about the best ways for them to receive money as well. Ultimately, it is a two-way transfer, so what works best for you, may not be the best option for someone else. So always keep that in mind when signing up.

Looking for more on business, check out our article on Best E-commerce Platform for Startups and Small Businesses.

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