Comparing the Best Apps for Transferring Money Internationally

Sending money across borders has never been more important, and knowing the best apps for transferring money internationally can make a significant difference. Whether you're supporting family, paying for services, or handling business transactions, finding the right app can save you time and money. However, not all apps are created equal. Some charge high fees, while others offer better exchange rates or faster transfers. With cross-border payments growing at a staggering 28% annually, it's clear that international money transfers are on the rise. Retailers who prioritize these services even see a 40% boost in global sales. Choosing wisely among the best apps for transferring money internationally means you can enjoy smoother, more affordable transfers. So, how do you decide which app works best for you?

Key Criteria for Choosing the Best Money Transfer Apps

When you're choosing an international money transfer app, it's important to know what to look for. Not all apps are created equal, and understanding the key criteria can help you find the one that fits your needs. Let’s dive into the most important factors.

Fees and Hidden Costs

Nobody likes surprises, especially when it comes to fees. Many apps charge a transfer fee, currency conversion fees, or even hidden costs that aren't obvious at first glance. To avoid overpaying, you should always check the fee structure before making a transfer.

Here’s a quick breakdown of common fees:

Apps like Wise are known for their transparent pricing, which is why they’re rated 4/5 for their competitive fee structure. They use mid-market exchange rates without hidden markups, making them a great choice for affordable transfers.

To avoid unexpected costs:

• Review the terms and conditions carefully.

• Look for apps with clear fee structures.

• Choose providers offering competitive exchange rates without hidden fees.

By doing this, you can ensure you're getting the best rates for international money transfers without breaking the bank.

Exchange Rates and Conversion Margins

Exchange rates play a huge role in how much money actually reaches your recipient. Some apps offer competitive exchange rates, while others add a markup that eats into your transfer amount.

Wise, for example, uses mid-market rates—the same rates you see on Google or XE—which means you get more value for your money. On the other hand, apps like PayPal often include hidden markups in their rates, making them less cost-effective for international transfers.

Here’s a comparison of apps based on fees and exchange rates:

When choosing an app, always compare the exchange rates and ask yourself: "Am I getting the best deal for my money?" Apps with transparent rates and low conversion margins will help you maximize your transfer amount.

Transfer Speed

Sometimes, speed matters more than anything else. Whether you’re sending money for an emergency or paying a bill, you need a service that delivers quickly.

Most international money transfer apps offer different speed options:

• Express transfers: Funds arrive within minutes.

• Economy transfers: Typically take 3-5 business days.

For example, Remitly’s Express option is perfect for urgent family remittances, while Azimo and Afriex specialize in fast transfers, often completing transactions in minutes.

Here’s how some apps compare in terms of speed:

• Azimo: Transfers usually go through in minutes, especially for mobile wallets.

• Afriex: Known for completing international money transfers quickly, often within minutes.

• Remitly: Offers both Express and Economy options, giving you flexibility based on urgency.

If speed is your priority, look for apps that offer instant or same-day transfers. Just keep in mind that faster options may come with higher fees.

Security Features

When it comes to transferring money internationally, security should be your top priority. You want to ensure your hard-earned money reaches its destination safely. The best international money transfer apps invest heavily in security measures to protect your transactions and personal information.

Here are some key security features you should look for:

• Encryption: Apps that use advanced encryption ensure your data stays private and secure.

• Multi-factor authentication (MFA): This adds an extra layer of protection by requiring you to verify your identity through multiple steps.

• Fraud detection systems: These systems monitor transactions for suspicious activity and prevent unauthorized access.

Why does this matter? Studies show that 77% of money transfer apps contain security flaws, which can lead to financial theft. However, companies that implement MFA and encryption have seen unauthorized access drop by 85%. For example, a bank using these measures reported zero security breaches in six months.

Apps like Wise and PayPal prioritize security, giving you peace of mind. Ant Group, a global leader in financial services, grew to over 1 billion users by building trust through robust security features. When choosing an app, always check its security credentials. A secure app not only protects your money but also builds your confidence in using it.

Tip: Look for apps with a proven track record of security and user trust. It’s worth the extra effort to keep your money safe.

Ease of Use and Accessibility

Nobody wants to struggle with a complicated app, especially when transferring money internationally. The best international money transfer apps make the process simple and stress-free. They focus on user-friendly designs and accessibility to ensure everyone can use them with ease.

Let’s take a look at how some apps perform:

Apps like Wise and Remitly stand out for their intuitive interfaces. They guide you step-by-step, so you don’t feel overwhelmed. Whether you’re tech-savvy or not, these apps make transferring money a breeze.

Accessibility is another important factor. Many apps support multiple languages and offer 24/7 customer service. This ensures you can get help whenever you need it. Some apps even have mobile-friendly designs, so you can send money on the go.

Note: Before choosing an app, try exploring its interface. A quick test can save you from future frustration.

Suitability for Specific Needs (e.g., business, family remittances)

Not all money transfer apps are created equal. Some are better suited for businesses, while others excel at helping families send remittances. Choosing the right app depends on your specific needs.

For businesses, cost-effectiveness is key. Apps like OFX and Wise help reduce operational costs by eliminating the need for physical branches. This allows them to offer lower transfer fees compared to traditional methods. Businesses can save money while ensuring their payments reach international clients quickly and securely.

For family remittances, speed and convenience matter most. Apps like Remitly and Xoom specialize in fast transfers, often completing transactions within minutes. They also offer flexible payment options, such as cash pickups and mobile wallet transfers, making it easier for your loved ones to receive money.

Here’s why these apps work so well:

• They minimize operational costs, which means lower fees for you.

• They provide tailored solutions, like express transfers for emergencies or economy options for regular payments.

By understanding your needs, you can choose an app that aligns with your goals. Whether you’re running a business or supporting your family, there’s an app designed just for you.

Detailed Review of Top International Money Transfer Apps

Wise: Low-cost transfers and transparent fees

If you're looking for a money transfer app that saves you money and keeps things simple, Wise might be your best bet. Known for its low-cost transfers and transparent pricing, Wise has become a favorite among users who want to send money abroad without worrying about hidden fees.

Wise stands out because it uses mid-market exchange rates—the same rates you see on Google. Unlike traditional banks or some money transfer companies, Wise doesn’t add a markup to the exchange rate. Instead, it charges a small, upfront fee, so you always know exactly what you're paying.

Here’s how Wise compares to traditional banks:

Wise also offers a multi-currency account, letting you hold and convert over 50 currencies. This feature is perfect if you frequently send money abroad or travel internationally. Plus, the app's user-friendly interface makes it easy to track your transfers in real time.

Did you know? Wise’s mission is to make international transfers so affordable that they eventually cost nothing. They call this initiative "Mission Zero."

If you value transparency and affordability, Wise is one of the best money transfer apps you can choose.

PayPal: Convenience and global recognition

PayPal is a household name in the world of online payments. With over 425 million consumer and merchant accounts worldwide, it’s one of the most recognized money transfer providers. If you’re already using PayPal for online shopping or business transactions, it’s incredibly convenient to use the same platform to send money abroad.

One of PayPal’s biggest strengths is its global reach. It supports transfers to over 200 countries and regions, making it a reliable choice for international payments. Whether you’re paying a freelancer overseas or sending money to family, PayPal’s extensive network has you covered.

Here’s a quick look at some stats that highlight PayPal’s popularity:

Statistic	Value
Consumer and merchant accounts	425 million
Percentage of U.S. households underbanked	20%
Americans living paycheck-to-paycheck	69%
Cash transactions in 2020	19%
Consumers wanting to use less cash	26%
Americans who prefer not carrying cash	58%
Likelihood of using a secure U.S. CBDC	73%

 

While PayPal is convenient, it’s worth noting that its fees can be higher compared to other apps. For example, PayPal often includes a markup in its exchange rates, which means you might get less value for your money. However, if you prioritize ease of use and global recognition, PayPal remains a solid choice.

Remitly: Speedy transfers for family remittances

When it comes to sending money to family quickly, Remitly is hard to beat. This app specializes in remittance transfers, offering fast and reliable service to over 100 countries. If you need to send money abroad in a hurry, Remitly’s Express delivery option is a lifesaver.

With Express, you can send money using a debit card, and the recipient usually receives it within minutes. One customer even shared that they received a confirmation email within 30 minutes of sending money, letting them know the funds had arrived safely. That kind of speed can make a big difference in emergencies.

Here’s why Remitly is a top choice for family remittances:

• Express transfers ensure funds arrive in minutes.

• Flexible payment options include bank deposits, cash pickups, and mobile wallets.

• Transparent fees let you know exactly what you’re paying upfront.

Remitly also offers an Economy option for less urgent transfers. While it takes a bit longer (3-5 business days), it’s more affordable, making it ideal for regular remittances. The app’s focus on speed and convenience has earned it a loyal user base, especially among those sending money to loved ones.

If you’re looking for a money transfer app that prioritizes speed and reliability, Remitly is an excellent choice.

Western Union: Cash pickups and extensive reach

Western Union is one of the most recognized names in the world of money transfer companies. If you’re looking for a reliable way to send money abroad, especially to someone who doesn’t have a bank account, this app is a great option. Its standout feature is the ability to offer cash pickups, making it incredibly convenient for recipients in remote areas or those without access to digital banking.

Western Union’s global reach is unmatched. It operates in over 200 countries and territories, with more than 550,000 retail agent locations worldwide. This extensive network ensures that your recipient can pick up cash almost anywhere. Whether you’re sending money to a family member in a rural village or a friend in a bustling city, Western Union has you covered.

Here’s a quick look at Western Union’s impressive stats:

Western Union also offers flexibility in how you send and receive money. You can choose from cash pickups, bank deposits in 150 countries, or mobile wallet transfers in 50 countries. This makes it a versatile option for different needs.

Did you know? Western Union handles about 25% of the global remittance market, making it one of the most trusted money transfer providers worldwide.

If you value accessibility and a wide-reaching network, Western Union is a solid choice for your money transfer needs.

Revolut: Versatile financial services for travelers

Revolut isn’t just a money transfer app—it’s a complete financial toolkit. If you’re a frequent traveler or someone who loves exploring new destinations, Revolut is designed with you in mind. It offers multi-currency accounts, allowing you to hold and exchange money in multiple currencies without worrying about high conversion fees.

One of Revolut’s biggest advantages is its competitive exchange rates. Unlike traditional money transfer companies, Revolut doesn’t add hidden markups to its rates. This means you save more when you send money abroad or make purchases in foreign currencies. Plus, the app provides real-time transaction notifications, so you can track your spending instantly.

Here’s what makes Revolut stand out:

• Multi-currency accounts for seamless international transactions.

• Competitive exchange rates that help you save money.

• Cryptocurrency and stock trading options for diverse financial interests.

• Advanced budgeting tools to manage your expenses effectively.

• Corporate cards with features like spending limits and real-time tracking for businesses.

Revolut also caters to businesses with its corporate cards, making it easier to manage expenses and track spending. Whether you’re traveling for leisure or work, Revolut’s features ensure you’re financially prepared for any situation.

Pro Tip: Use Revolut’s budgeting tools to set spending limits and avoid overspending while traveling.

If you want a money transfer app that doubles as a financial assistant, Revolut is an excellent choice.

OFX: Cost-effective for large transactions

When it comes to transferring large sums of money internationally, OFX is hard to beat. This app specializes in cost-effective solutions for big transactions, making it a favorite among businesses and individuals who need to send significant amounts abroad.

OFX stands out because it offers lower fees compared to many other money transfer companies. Instead of charging a flat fee, OFX uses a percentage-based model, which becomes more affordable as the transfer amount increases. This makes it ideal for large transactions, such as paying for overseas property or handling business payments.

Here’s why OFX is a cost-effective option:

• Transitioning to paperless trade can reduce costs by up to 75%.

• Some costs decrease by as much as 81%, saving you even more.

• Electronic records in trade finance could boost global trade by nearly $1.2 trillion.

OFX also provides excellent customer support. You’ll have access to a dedicated account manager who can guide you through the transfer process. This personalized service ensures that your money reaches its destination safely and efficiently.

If you’re looking for a money transfer app that combines affordability with reliability for large transactions, OFX is a smart choice.

Xoom: Fast transfers for urgent needs

When time is of the essence, Xoom is a money transfer app you can count on. Owned by PayPal, Xoom specializes in fast and reliable transfers, making it a great choice for urgent situations. Whether you need to send money abroad to cover an emergency expense or help a loved one, Xoom ensures your funds reach their destination quickly.

One of Xoom’s standout features is its speed. Transfers often take just minutes, especially when sending to bank accounts, mobile wallets, or for cash pickups. This makes it ideal for situations where every second counts. For example, if your family member needs immediate financial support, Xoom’s rapid delivery can provide peace of mind.

Here’s what makes Xoom a strong contender among money transfer companies:

• Speed: Transfers are processed almost instantly in many cases.

• Convenience: You can send money directly to bank accounts, mobile wallets, or even arrange for cash pickups.

• Global Reach: Xoom supports transfers to over 160 countries, giving you plenty of options.

Xoom also offers a user-friendly interface that simplifies the process. You can track your transfer in real time, so you always know where your money is. Plus, with PayPal’s backing, Xoom benefits from robust security measures, ensuring your transactions are safe.

However, it’s worth noting that Xoom’s fees can be higher than some competitors, especially for smaller transfers. The exchange rates may also include a markup, which could reduce the amount your recipient gets. Despite this, if speed is your top priority, Xoom is a reliable money transfer provider that delivers on its promise.

WorldRemit: Flexible payment options

WorldRemit is a money transfer app that stands out for its flexibility. If you’re looking for a service that adapts to your recipient’s needs, this app has you covered. It offers a variety of payout methods, including bank deposits, mobile money accounts, airtime top-ups, and cash collection. This makes it accessible even for recipients without a bank account.

One of WorldRemit’s biggest strengths is its global reach. You can send money abroad to over 130 countries, and the app tailors its services to suit different regions. For instance, in areas where mobile money is popular, WorldRemit ensures seamless transfers to mobile wallets. This adaptability makes it a favorite among users who value convenience.

Customer feedback highlights the app’s reliability and ease of use. With a TrustPilot rating of 3.9 out of 5 stars, over 70% of users have given WorldRemit a 5-star review. Many praise its speed and the variety of payment options, which make it a versatile choice for different situations.

Here’s why WorldRemit is worth considering:

• Multiple payout methods: Choose from bank deposits, mobile wallets, airtime top-ups, or cash pickups.

• Accessibility: Perfect for recipients without bank access.

• Global coverage: Send money to over 130 countries with ease.

WorldRemit’s flexibility doesn’t just benefit the sender—it also makes life easier for the recipient. Whether they prefer cash in hand or a deposit into their mobile wallet, WorldRemit ensures they get the money in the way that works best for them. If you want a money transfer app that puts both you and your recipient first, WorldRemit is an excellent choice.

Comparison of International Money Transfer Apps

Fees and Exchange Rates

When you compare money transfers, fees and exchange rates are often the first things to consider. Some apps charge a flat fee, while others base their fees on the amount you send. Exchange rates can also vary widely, with some providers adding hidden markups that reduce the amount your recipient gets.

Here’s a quick look at how some popular apps stack up:

Wise stands out for its transparent pricing and mid-market exchange rates, which means you get more value for your money. On the other hand, some apps may waive fees but compensate by offering less favorable exchange rates. Always check both factors to ensure you’re getting the best deal.

Transfer Speed

Speed is crucial, especially when you need to send money in an emergency. Different money transfer providers offer varying delivery times, depending on the service you choose and the destination country.

Western Union and Remitly excel in offering express options for urgent transfers. However, economy options are available if you’re not in a rush and want to save on fees. For instant transfers, apps like Zelle are hard to beat, though they may have limited international coverage.

Supported Countries and Currencies

The range of supported countries and currencies can make or break your choice of a money transfer app. Some apps focus on specific regions, while others offer global coverage.

Apps like PayPal and Xe lead the pack with support for over 200 countries, making them ideal for global transactions. Wise, while slightly more limited in coverage, offers excellent currency options, making it a strong contender for international money transfer needs.

Security Features

When sending money internationally, security is one of the most important factors to consider. You want to ensure your money and personal information are safe from cyber threats. The best money transfer apps prioritize security by using advanced technology and strict protocols.

Most apps use encryption to protect your data. This means your information is scrambled and unreadable to anyone trying to intercept it. Multi-factor authentication (MFA) is another common feature. It requires you to verify your identity through multiple steps, like entering a code sent to your phone. This extra layer of protection makes it harder for hackers to access your account.

Fraud detection systems are also a key feature. These systems monitor transactions for unusual activity and can block suspicious transfers. Thanks to these measures, mobile banking security incidents have dropped by 60% in recent years, from 4.2 incidents per 1,000 users in 2020 to just 1.7 in 2023. This improvement shows how much safer these apps have become.

Apps like Wise and PayPal are known for their strong security features. They invest heavily in protecting your money and building trust. When you compare providers, always check their security credentials. A secure app not only keeps your money safe but also gives you peace of mind.

User Experience and Accessibility

A great money transfer app should be easy to use and accessible to everyone. Whether you're tech-savvy or not, the app should guide you through the process without confusion. Apps like Wise and Remitly excel in this area, offering simple interfaces that make transferring money a breeze.

Many apps also provide features that save you time. For example, mobile banking apps help users save an average of 1.8 hours each month by eliminating the need to visit physical branches. That adds up to over 21 hours a year—more than half a workweek!

Here’s a table showing the most popular features and their usage rates:

Apps like Revolut go a step further by offering budgeting tools and real-time notifications. These features help you manage your money more effectively. Accessibility is another key factor. Many apps support multiple languages and offer 24/7 customer service, ensuring help is always available.

When choosing an app, test its interface and explore its features. A user-friendly app can make your money transfer experience smooth and stress-free.

Choosing the right app for international money transfers depends on what matters most to you. Do you prioritize low fees, fast delivery, or ease of use? Apps like Wise and Remitly shine for affordability and speed, while PayPal and Western Union offer global reach and convenience. The best apps for transferring money internationally balance cost and reliability. Take a moment to compare your options and pick the one that fits your needs. With the right app, sending money abroad becomes simple and stress-free.

Also,you can try XTransfer app or platform to make the transaction. XTransfer is a one-stop financial and risk management service provider committed to making cross-border payment seamless and cost-effective for global enterprises. We connect trusted financial institutions with businesses worldwide through technology, allowing enterprises of all scales to enjoy the same level of cross-border financial services as large multinational corporations.

FAQ

What is the cheapest app for international money transfers?

Apps like Wise and OFX are great for saving money. Wise uses mid-market exchange rates with low fees, while OFX specializes in cost-effective solutions for large transactions. Compare their rates to find the best deal for your needs.

How fast can I send money internationally?

Some apps, like Remitly and Xoom, offer express transfers that arrive within minutes. Economy options take longer, usually 3–5 business days. If speed matters, choose apps with instant or same-day delivery options.

Are international money transfer apps safe?

Yes, most apps use encryption and fraud detection systems to protect your money. Look for apps with multi-factor authentication (MFA) and a strong reputation, like Wise or PayPal. Always check reviews and security features before choosing an app.

Can I send money to someone without a bank account?

Absolutely! Apps like Western Union and WorldRemit allow cash pickups or transfers to mobile wallets. These options make it easy for recipients without bank accounts to receive money.

Which app is best for family remittances?

Remitly and Xoom are excellent for family remittances. They offer fast transfers, flexible payment options, and transparent fees. Remitly’s Express service ensures funds arrive quickly, while Xoom specializes in urgent transfers.