Best International Money Transfer Apps 2024: top suggestions

Secure and convenient solutions for sending money worldwide.

0
284
Best International Money Transfer Apps

Traditional money transfer services that have been operating offline are now shifting their operations online, while emerging fintech companies are offering online-only services that enable swift transfers directly to local bank accounts worldwide. But because there are so many options and new features, it is important to do a lot of research and find the best international money transfer apps that fits your needs.

Some apps are only available to people who live in certain countries, while others offer faster transfers for an extra fee. Some apps let you send or receive cash, which is helpful for people who like to do those things. Still, there are only a few apps that are fast, cheap, and easy to use, giving you a complete solution for your international money transfer needs. Below we have mentioned the best international money transfer apps.

Best International Money Transfer Apps Comparison Table

CompanyWestern UnionOFXRemitlyRevolutWise
TransferYesYesYesYesYes
FeesHighLowLowLowLow
Speed1-5 days1-21-31-31-2
Currencies130+55+100+30+60+
AppYesYesYesYesYes
ReviewsMixedPositivePositivePositivePositive
Customer Support24/724/724/7Limited hours24/7
Online PlatformYesYesYesYesYes
Official LinkVisit WebsiteVisit WebsiteVisit WebsiteVisit WebsiteVisit Website

Western Union

Best International Money Transfer Apps

Features

  • Money transfer service that is well-known and well-established
  • Offers options to pick up cash in different countries
  • Transfers to bank accounts and mobile wallets are possible
  • Offers exchange rates that are competitive

Through its mobile app, Western Union, one of the biggest names in money transfers, makes it easy, quick, and safe to send money anywhere in the world. It works with Touch ID and has advanced security features to keep your payments safe.

You can send money to more than 200 countries, where it can be deposited in a bank account, picked up in cash, or sent to a mobile phone. Before you start the transaction, you can see the current exchange rate, any transfer fees, and an estimate of when the money will arrive. The mid-market exchange rate is likely to get a markup10.

You can pay for your transfer in a number of ways, such as with a bank account or a debit or credit card. You might even be able to start the transfer on the WU app, lock in the exchange rate, and then pay for it in cash at a Western Union store or location. Currently, this is one of the best international money transfer apps you can download now.

Pros

  • With many agent locations around the world, the network has a wide reach and is easy to access.
  • Transfers are quick and easy, especially when picking up cash.
  • There are many ways to transfer money, such as online, through a mobile app, or in person.

Cons

  • Compared to other options, the fees and exchange rates are high.
  • There aren’t many ways to transfer larger amounts.
  • Some transactions may need more steps to confirm the person’s identity.

OFX

Best International Money Transfer Apps

Features

  • specializes in sending money abroad for people and businesses
  • Offers good rates of exchange and low fees
  • Offers customer service 24 hours a day, 7 days a week, and 365 days a year.

You can get the OFX app from both Google Play and the App Store. With it, you can send money transfers to more than 190 countries in more than 50 different currencies. Thus, this is one of the best international money transfer apps you can download now.

The secure platform lets you keep track of transfers, get real-time exchange rates, and see how currencies are moving in general. You can even set up automatic payments, rate alerts, and lock in great rates for longer periods. If you need help, OFX has customer service available around the world 24 hours a day, 7 days a week.

OFX says it has “rates that beat the banks”. These may be competitive, but they are likely to be higher than the mid-market rate by a margin or markup. The good news is that there are no transfer fees with OFX8. It does, however, say that third-party banks may take a fee out of the money your recipient gets.

Pros

  • There are low fees and good exchange rates, especially for larger transfers.
  • Help and service for customers that is dedicated.
  • There are many ways to transfer money, such as an online platform and a mobile app.

Cons

  • Needs a minimum transfer amount, so it might not work for small transfers.
  • Compared to some other apps, transfers may take longer with this one.
  • There aren’t many currencies and countries that are supported.

Remitly

Best International Money Transfer Apps

Features

  • Money transfers are quick and safe.
  • Offers good rates of exchange and low fees
  • Allows transfers to bank accounts, mobile wallets, and places where cash can be picked up
  • Different transfer options are available, including express delivery

The Remitly app for iOS and Android is great for sending money to other countries. It lets you send money quickly and safely to more than 145 countries. But at the time of writing, transfers from the US5 couldn’t be made to some big countries like the UK, Canada, and Australia. But Remitly plans to add support for them, so keep an eye out.

You can pay in a number of ways, such as with a bank account or a debit/credit card. Depending on the country you are sending to, you may also be able to choose between cash pickup, home delivery, and mobile money. Still, this is one of the best international money transfer apps you can download now.

With the Remitly app, you can see real-time exchange rates and set up alerts so you can take advantage of a great rate at the right time. You can also keep track of transfers, get money, and talk to customer service in more than one language.

Pros

  • There are low fees and good exchange rates.
  • Quick times to change trains, especially in some corridors.
  • The app is easy to use and has a simple interface.

Cons

  • There are only a few countries and currencies that can be used.
  • Some transfer options might be limited by where the recipient lives.
  • Larger transfers might need more steps of verification.

Revolut

Best International Money Transfer Apps

Features

  • Supports multiple currencies and accounts with no borders
  • Transfers to other Revolut users are free and instant. International transfers have low fees and good exchange rates.
  • Has extra features like budgeting tools and support for cryptocurrencies.

Popular money app Revolut lets you manage your money day-to-day, get a personalized debit card2, and get money for travel. You can get it from both Google Play and the Apple App Store. Currently, this is one of the best international money transfer apps for android and iPhone you can download now.

These include spending abroad in more than 150 different currencies and exchanging money for free (Monday through Friday) in 25 different currencies. You’ll also get 10 fee-free international transfers per month, which is very important if you want to send money abroad. You can send to more than 150 different places.

Most transfers made by Revolut use the mid-market exchange rate3. But there are a few important exceptions. For example, if you want to change money on the weekend, you have to pay an extra 1%. Some currencies, like the Thai Baht (THB), cost an extra 1% to exchange. So, you’ll have to be careful when you send money and what currencies are involved.

Pros

  • Transfers are quick and easy, and you get a message right away.
  • Low fees and exchange rates that are competitive.
  • Accounts with more than one currency and the ability to hold and exchange more than one currency.

Cons

  • There are restrictions for some countries and currencies.
  • There are limits to free transfers, like how much or how often you can send money.
  • Some users have said that customer service sometimes has problems.

Wise

Best International Money Transfer Apps

Features

  • Offers low-cost transfers of money between countries
  • Offers exchange rates that are clear and competitive
  • Transfers to bank accounts and mobile wallets are possible.
  • Offers a borderless account with support for multiple currencies

Wise lets both individuals and businesses set up online accounts with more than one currency. Setting up an account is quick and easy, and you can get a full-featured Wise app from both Google Play and the App Store. You can also easily convert between different currencies, track transfers, and check on international payments made to you using the app. Overall, this is one of the best international money transfer apps you can download now.

Pros

  • Great rates of exchange and low fees.
  • Prices that are clear and information on the exchange rate in real time.
  • Transfers happen quickly and are usually done in one to two business days.

Cons

  • There are restrictions for some countries and currencies.
  • Withdrawal limits for some ways to move money.

FAQs

What are international money transfer apps?

International money transfer apps are mobile programs that let people send money to people or businesses in other countries. These apps make it easy and safe to send money across international borders.

How do international money transfer apps work?

Users usually have to download the app and make an account before they can use it. Then, they link the app to their bank account or credit card. Users enter the name, country, and bank account information of the person they want to send money to. The app sends the money from the sender’s account to the receiver’s account in a safe way.

Are international money transfer apps safe to use?

Most apps that can be trusted put security first by using encryption, secure logins, and other measures. But it’s important to choose apps that are well-known and trusted to reduce any risks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here