International Money Transfers

Compare Services for Sending Money Abroad

International money transfer accounts are essential for individuals who need to send money abroad efficiently and at a reasonable cost.

Here’s a guide on what to consider and an overview of popular providers in the UK.

Key Factors to Look For in an International Money Transfer Account

• Exchange Rates – Look for competitive exchange rates, as even a small difference can impact your transfer’s value.
• Fees – Consider transfer fees, monthly account charges, and hidden costs. Some providers offer low fees for specific countries or transfer amounts.
• Transfer Speed – Choose a provider with reliable processing times that meet your needs, whether for fast or more affordable transfers.
• Security – Ensure the provider is regulated and offers secure transaction methods to protect your funds.
• Accessibility and Customer Support – Check for easy access through mobile apps and responsive customer service, particularly if issues arise.
• Transfer Limits: Some accounts may have minimum or maximum transfer amounts. Make sure the limits align with your typical transfer needs.

International Money Transfer Providers

1. Zing

• Overview: Zing focuses on affordable and convenient international transfers, often favoured for personal remittances.
• Highlights:
  • Competitive exchange rates, especially for major currency pairs.
  • Quick transfer times, making it ideal for urgent remittances.
  • User-friendly app and excellent customer support for individual account holders.

2. FairFX

• Overview: Known for its currency cards, FairFX is a solid choice for those wanting low-cost international payments.
• Highlights:
  • Attractive rates and low fees, especially when using their prepaid currency cards.
  • Convenient for frequent travellers needing easy access to funds abroad.
  • Secure transactions with an intuitive platform, ideal for UK consumers transferring funds overseas.

3. Talk Remit

• Overview: Talk Remit specialises in digital remittance with a strong focus on mobile access and instant transfers.
• Highlights:
  • No hidden fees, making costs transparent and predictable.
  • Fast transactions, particularly within popular remittance corridors.
  • Simple, mobile-first platform with customer support tailored to international transfers.

4. Xe

• Overview: Xe offers a well-established money transfer service with competitive rates and a broad global reach.
• Highlights:
  • No transfer fees on many transactions and very competitive exchange rates.
  • Secure and reputable with a large network supporting a wide range of countries.
  • Suitable for high-value transfers due to flexibility and low-cost offerings.

5. Dahabshiil

• Overview: Focused on serving the African and Middle Eastern markets, Dahabshiil is known for reliable remittance services.
• Highlights:
  • Low fees and good rates for specific markets, particularly in Africa.
  • Quick and reliable transfers, often used for family support and remittances.
  • Strong emphasis on trust and community support with a user-friendly app.

Choosing the Right International Money Transfer Account

Your choice will depend on factors like transfer frequency, destination, and transaction speed.

Any of these providers could meet your needs for fast, reliable, and affordable international transfers, so weigh the options based on their strengths and fees to make the most of your international money transfers.