Top 10 Best Ways To Transfer Money Internationally

Transferring money online is essential in today's global business scenario. With globalization, we are interacting more with the world. World has become a small village, and its economy is de-centralizing. We are sending and receiving money over the border more than ever.

"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver." - Ayn Rand

If you are a freelancer, you work and get paid internationally. So it would be best to have a dependable way to transfer money internationally. When you write the freelance contract, it is vital to have a section for payment terms and mode of transfer. Gone are the days when someone needs to stress out with overseas payments. We have a wide variety of ways to send money Internationally. We shall go through the top ten best methods in this article.

If you are looking for an international payment gateway for accepting payment, check this linked article. 

Parameters to choose a method of transfer

  • Exchange rates: In an international money transfer, the currency gets converted from one to another. Money transfer companies charge different currency exchange rates, though there is a standardized universal rate. Also, in addition to a poor exchange rate, additional conversion charges may be levied. These together are critical factors in deciding on a money transfer platform.
  • Transfer speed: Different apps have different transfer speeds. Ideally, it takes around 48-72 hours to make an international payment. But at the end of the day, it depends on the channel that you are sending money through. Money transfer happens via multiple hops; the quicker the hop number, the faster the process.
  • Service charges: Compare transfer costs across different platforms. You can be charged an upfront fixed fee or a percentage. Finding a provider with the lowest price and the best exchange rate makeup would be best.
  • Regulations and limitations: Every financial provider has different transfer rules and regulations. It depends a lot on the principles, payment type, and provider. Before making an international payment to any country, go through the rules and limitations (if any).
  • Hidden charges: Ensure no other costs are involved. The receiver may be levied an exorbitant fee at his end. Find out before making the transfer.

Ten best ways to transfer money internationally

  1. Bank transfer
  2. WesternUnion
  3. Wise (TransferWise)
  4. MoneyGram
  5. PayPal
  6. WorldRemit
  7. Remitly
  8. Zelle
  9. Xoom
  10. OFX

Bank transfer

Bank Money Transfer

Transferring money via direct bank or wire transfer is the best and most dependable option. It has the lowest service charge, better currency conversion rate, insufficient documentation, and ease of transfer. Transfer speed may not be the best when compared to other options.

Key highlights

  • Security
  • Convenience
  • Low fees
  • Popular option


Western Union

WesternUnion is my favorite option. It is the second best after the bank transfer— one of the internationally well-accepted choices with a good agent network. The best thing is the speed. The sender transfers international money and shares a secret code with the receiver. On producing the secret code, the WesterUnion network gives the cash. Banks are part of their network so you can receive the money directly in your bank account.

Key highlights

  • Instant money transfer
  • Greater network
  • Lesser processes

Wise (TransferWise)

Western Union

Wise is an online and mobile money transfer platform. With a guaranteed exchange rate, it wins on the affordability front. Freelancers use Wise predominantly. Wise is user-friendly and even simple for a novice to signup and use. Not technology-savvy users can even use Wise and get money transferred quickly without a fuss. It provides an excellent mobile money transfer platform for International cross-border transfers. They do not charge an exchange markup fee.

Key highlights

  • No account or signup is required. Easy to use.
  • Low exchange rate and no markup fee.
  • Quick money transfer.


MoneyGram is a global money transfer company. It has a network of over 350,000 agent locations in more than 200 countries and territories. MoneyGram is a similar company to WesternUnion. It provides different transfer modes, from mobile to cash-based transfers via its agents. Small businesses, friends, and families use it to transfer money internationally— it is a trusted company in the money transfer business.

Key highlights

  • Lower service charge in comparison with peers.
  • More extensive agent network and accessibility.
  • Ease of use has good platforms.


PayPal is a trusted and long-standing money transfer company used internationally. When we hear the term international transfer, PayPal first comes to mind. Paypal is considered one of the best apps for sending large amounts internationally. It's not a compulsion to link your bank account with PayPal, as it is a widely accepted payment mode. So you can pay directly from this app. When you have a verified account, there is no transfer limit, which is dependable for transferring large amounts. With PayPal, the transfer is instant. The receiver will get the money instantly in their PayPal account. Then the funds can be withdrawn to the bank account. So international payment is a breeze. PayPal provides good tools, for example, support for handling chargeback disputes.

Key highlights

  • Dependable for high-volume money transfers.
  • PayPal is trusted by users internationally.
  • Instant transfer and availability of tools.


WorldRemit is best for fast international cash transfers. While using this app, you must check the exchange rates; fees may differ depending on your region. You need an account to operate it, and signing up is free. Transfer fees vary based on country and currency. Money transfers are done instantly, but the delivery can take up to a week, depending on the country.

Key highlights

  • The lower service charge for money transfers.
  • Processes money more quickly than its peers.
  • User-friendly mobile app and track transfer on the go.


Remitly is an excellent option to send money internationally fast as they offer an economical choice. It just takes a few minutes to transfer from the express option. You can do the transfers through bank transfer or in-person pickup. Once you have an established account, you can transfer up to $60,000. It charges a markup fee and also transfers fees. Their transfer fees are among the lowest in the industry. It has both same-day and economy transfers which take up to 5 days to transfer money.

Key highlights

  • The low service charge for money transfers.
  • Provides exemplary customer service.
  • Good mobile app for money transfer and tracking.


Zelle is known for fast bank transfers. It is a tremendous peer-to-peer tool for bank account transfers. Money can be sent directly from the bank account internationally. Customers who don't have a partnership with Zelle are restricted from sending $500 per week. Customers must sign up now with Zelle from the bank's app and make their profile. The recipient's bank must partner with Zelle. Zelle does not charge additional payment fees. You need to confirm it with your bank. The recipients enrolled with Zelle will receive the money in a couple of minutes.

Key highlights

  • Zelle needs an email or phone number to transfer money.
  • Surprise! Zelle doesn't charge any additional fee to transfer money internationally. 
  • You can use it as a digital wallet to make payments at outlets.


PayPal owns Xoom, which was acquired in 2015. Xoom provides a simple and easy way to transfer money internationally. Xoom is very reliable and the fastest option of all. You can transfer cash up to $100,000. More than the amount, you may have to go through a detailed approval process. Xoom has partnerships with banks internationally and routes the money through them. It costs a premium to transfer cash via Xoom, so you need to check about the transfer costs upfront.

Key highlights

  • Xoom shares PayPal's infrastructure, so the accounts can be reused.
  • Very fast, almost instant international money transfer.
  • Verified accounts have a high limit of transfer.


OFX has a presence in around 190 countries. This is considered best for sending a large amount of money. This does not charge fees. Its exchange rate markups are 2 to 4 %. The lower limit per transfer is $1000, and no maximum cap. OFX doesn't charges fees no matter how much the amount is. Its exchange rate markups are pretty high when compared to other service providers. It does not deliver on the same day. It takes 12 hours to transfer it and around 1 to 3 days to provide the money.

Key highlights

  • Suitable for high-volume transfers.
  • No separate service charge for money transfers.
  • International transfer can happen with quite ease.


We learned the essential parameter to check before choosing a company for international money transfers. Then, we looked at the ten best ways to transfer money internationally. We also looked at critical highlights for each of the options. Transferring money internationally isn't tough, provided you go through the details and know everything. It would be best if you do proper research before making any payment.

About Joe Kulandy

Joe Kulandy

Joe is the founder of He loves web application development and is a full-time freelancer. He has a passion for web UI UX design. Follow him on LinkedIn.

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