4 Best International Money Transfer Companies in 2023

Today it is pretty easy to undertake wealth management via PC or pocket screens. People receive/send/manage financial assets hassle-free due to various money transfer services now. It is possible to financially support your relatives and friends no matter they live. Any specified amount will be remitted extremely fast if you know which banking institution, fin corp, or e-platform for transfers overseas.

3 Main Types of International Money Transfer Service Vendors

Millennials still prefer traditional banking institutions for sending money. But most banking institutions with ancient histories are digital-unfriendly. Nevertheless, it’s vital to review this kind of establishment as a money transfer trusted supplier as well together with all the detected weak spots and discovered strong features.

Together with banks, there are peer-to-peer digital platforms for sending funds and organizations drawing up cheques & processing funding orders. All vendors of interest are going to be reviewed and compared. Prioritize the one for the best international money transfer results according to the insights presented below.

Money Transfer Organizations with Cheques and Finance Orders

Cheques are a great deal to avoid hidden fees for account maintenance and annual services. But be ready that the sum remitted to your relatives or friends, business partners, or relocated employees can become accessible in 5-7 calendar days. If the speed of the transaction is not your top-priority focus, try this approach.

The same story with money orders. This is an efficient strategy to avoid various additional charges excluding an obligatory flat fee. Usually, money orders are available in the international post offices. But it is pretty risky. If financial security matters together with the transfer rates and remitting promptness, explore other variants.

Banking Establishments & Credit Unions

Note that banking establishments and credit unions are presented as a single company type because of the same policies, terms & conditions in the context of wire transfers and other similar transactions. Among the benefits of these money transfer organizations are reliable service packages guaranteed by reputable finance firms.

Speaking about their weak spots, remitting packages are available at rather high monthly fees for the bank or credit union account. Additionally, clients should be ready for transaction charges paid by the sender and withdrawal ones delivered by the recipient.

If you are interested in safe international money transfer services without regard for high remitting fees and would like to undertake these transactions via your current account for traveling (with cashback abroad, zero charges for cash-outs in the overseas ATMs), ask bank managers about rates and other details.

In case you are interested directly in affordable international wire transfer services, it is better to take a closer look at alternatives. P2P and similar digital platforms together can come in handy for this purpose.

E-Platforms for the Best Money Transfer Services

The core benefit of such international money transfer companies is the easy-to-use concept. All the remitting plans are available online through special-purpose applications. Additionally, funds will be sent fast and risk-free compared to terms set for most post office financial orders or physical cheques.

Among other advantages to consider when it comes to P2P platforms and similar companies for international money transfers with digital-friendly backgrounds are:

  • Well-thought algorithms for any transactions undertaken;
  • Fixed fees are explained in detail in the app or on the website;
  • Zero intermediaries – funds are sent and received without third parties;
  • Clear exchange rates in case of auto-conversion required;
  • Available rewards for regular clients and active users of money-sending services;
  • Flexibility and transparency are guaranteed by the financial firms you are interested in.

It is reasonable to review this category of money transfer organizations. Most customers select P2P applications for almost immediate remitting sessions. Note that these digital platforms with their wallets can be used not only for transfers but for savings and other operations. Let’s take a closer look at the top-ranking options people worldwide trust and use daily.

4 Best Money Transfer Service Vendors to Consider in 2023

It is a challenging task to pick sides with the best-matching service provider regarding your funds. Most clients are long to decide which fin corp to select. Get the best money transfer services with a guide through the most reliable companies for a successful remittance experience.

The list of the leading digital platforms for remitting operations in 2023 looks like this:

  1. PayPal;
  2. WorldRemit (World Remit Corp);
  3. Wise;
  4. Xoom.

Each app provides users with international money transfer services of a high level. It is worth noting that the top list is formed according to the exceptional features of every organization presented. The best characteristics that distinguish these greyhounds from other accessible wire transfer companies in the present-day market will be highlighted as the most significant strengths to take into consideration.

1 – PayPal (The Best for Immediate Transfers in US Dollars)

The interface of the PayPal app is highly user-friendly. Many payment methods are available for those interested in high-grade money transfer services. This fin corp is notable for its zero regular fees. The only charge to be ready to pay is a hefty one. That is why users prioritize the US dollar as the main currency for transactions here.

Even for non-verified accounts, the transfer limit is rather high – $4,000. The maximum sum that can be remitted at once is about $60,000. Note that there are local restrictions for this payment system. For example, residents of some countries can only send funds but not receive them. This is a single weak spot to consider.

2 – WorldRemit (The Best for Multi-Currency Money Transfer Services)

It is worth starting with the weak spots this fin corp can bring to users. First, these are rather high transaction fees. The sender should be ready to charge about 3% of the sum remitted to the foreign recipient. For example, a husband on a business trip would like to send his wife $200. The fixed fee for this sum will be about $6.

Note that recipients will not feel any discomfort with their wealth management. The extra charges are possible only in cases received funds are forwarded to another bank card or wallet. If you cash out or pay for shopping, food, drinks, dinner, entertainment, and more through the WorldRemit app, zero charges are applied.

But the availability of about a hundred currencies for payments is a very beneficial feature. That is why travelers, businessmen, and other clients give preference to WoldRemit international wire transfer services. The maximum amounts to send are also solid. About $8,000-$9,000 can become the daily remittance amount. Everything depends on the user’s rating formed by the P2P platform.

3 – Wise (The Best Money Transfer Service for Travelers)

Online banking without limits and overpays is about this financial firm. Everything is accessible 24/7 in the application. An awesome option is the SWIFT-friendliness of this digital platform – enjoy the best online money transfer experience with minimum fees but a maximal customer satisfaction level.

The user of the app can select up to 50 currencies for regular transactions abroad. As this financial organization is focused on travelers’ convenience, besides the best online money transfer conditions, there are many attractive perks for voyagers from different world corners:

  • SWIFT codes are easily managed and set on the Internet via the app;
  • No charges for customer service and virtual card maintenance;
  • The only welcome fee is about $9 for Wise debit /prepaid card owners;
  • Every two first withdrawals a day are free in any ATM throughout the globe;
  • Auto-conversions are transparent with the middle-market exchange rates applied;
  • All the funds sent/received hit the target account almost right after the operation is confirmed.

Additionally, Wise clients are not obliged to have a US account to reach international money transfer services and other special offers of this payment system. It is allowed to undertake required settings and have savings in euro, Australian, Canadian dollars, etc.

4 – Xoom (The Best for Convenient Cash-Outs Abroad)

This is a PayPal-driven project for extraordinary international money transfer services. The idea is that the sender selects any local department in the recipient’s country and remits the required amount. This way people can receive money chargeless in the nearby bank offices. Xoom notifies the sender about accessible currencies in the local branches.

There is an online calculator on the website to see the results after the auto-conversion. It is convenient for both parties who take part in this financial operation. Cash pickups that can be considered are available in the chosen representative offices of partnering international money transfer companies during banking workdays.


First, it is necessary to discover all the available options in the global digital & fintech market. Money-sending services vary much depending on their provider. Unsurprisingly, traditionally-recognized banks are not the only wire transfer companies to take into consideration. There are P2P digital platforms, credit unions, and organizations that send cheques & funding orders overseas.

If you are searching for the best money transfer services that will meet your requirements fully, pay attention to the above-listed variants. All the approaches are sorted according to their strongest features. Select financial service providers and undertake remittance procedures at any time you need.


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