Sending money internationally can be a complicated process. Transferring funds across borders can take days or weeks, and even then the transaction may not succeed due to taxes, restrictions on your card provider network, currency exchange rates and more. If you’re looking for ways to send money abroad without hassle today’s article is going to show you three simple options that are actually worth considering.

The “transfer money internationally” is a question that many people have. There are many different ways to transfer money, but the most popular methods are PayPal and Western Union. Both of these services can be used to transfer money internationally.

Best Ways To Send Money Internationally

We looked at all of the major money transfer firms to find which ones offer the best international money transfer services. Determine which transfer service is best for you!

This article may include affiliate links, which means that if you make a purchase through my links, I may get a commission at no cost to you. For further information, go to this page. Although the information on this page is correct as of the date of publication, some of the deals listed may have expired.

The bottom line is that Wise is the greatest overall transfer service. When new customers utilize this link, they will get a fee-free transfer of up to $600.


People all throughout the globe contribute over $689 billion in foreign remittances each year, according to the World Bank!

It’s a staggering figure, but it’s understandable considering how many individuals leave their home countries in quest of better chances. They send a percentage of their earnings back home to help their families once they start earning money.

The top three recipients of remittances are India, China, and Mexico. The top ten are the Philippines, Egypt, Nigeria, Pakistan, Vietnam, Bangladesh, and Ukraine:

Ways To Send Money Internationally: Recipient Infographic (Statistics courtesy of Statista)

People utilize money transfer services to move money overseas because they are very successful enterprises that make the majority of their money from transfer fees and exchange rate disparities.

Are you someone who sends money internationally often or gets money from others and is worried about the costs that are charged? Perhaps you’re wondering what choices are available to help you save money.

If that’s the case, you’ve come to the correct spot because I’m going to go through the most effective method to send money internationally.

Fees for Sending Money Across International Borders

When sending money abroad, there are a lot of charges to consider. Some are almost ubiquitous, regardless of how the money is sent.

The first is the transfer charge, which is determined by the type of transfer you choose (credit card, debit card, wire transfer), and the second is the difference between the real exchange rate and the actual rate used by the transfer firm.

Fee for Transfer

Each time you make a money transfer, you will be charged a transfer fee. The actual cost is determined on how you finance the transfer, with credit cards being the most costly and bank wire transfers being the least expensive:

Method of Transfer Using Your Credit Card Card de débit Transfer of funds through bank wire
Fee for Transfer ($$$) high ($$) Moderate Low ($)

Let’s say you want to transfer $1,000 from the United States to Vietnam.

When sending $1,000 to Vietnam from the United States, Western Union is an international money transfer service., one of the most well-known transfer firms, costs $48.00 for using a credit card, $21.00 for using a debit card, and $6.00 for using a bank transfer:

Ways To Send Money Internationally: Western Union transfer to VND

I don’t advocate using a credit card unless it is absolutely necessary. Not only are transfer business costs exorbitant, but if your credit card company considers this a cash advance – as many do – you’ll be charged a cash advance fee as well.

Rates of Exchange

A lesser-known price that you may not be aware of is the exchange rate fee. Specifically, the difference between the true exchange rate and the transfer company’s actual rate.

A footnote hidden at the bottom of Western Union’s transfer page reads as follows:

Western Union exchange rate footnote

So, how do you figure out how much this cost is?

Using the example of shipping $1,000 to Vietnam, the current exchange rate between the US dollar and the Vietnamese dong, according to Morningstar, is $1 to 23,177 dong:

Ways To Send Money Internationally: Google USD to VND conversion

By multiplying $1,000 by 23,177,000 Vietnamese dong, you get 23,177,000 dong (yep, you’d be a Vietnamese dong multi-millionaire).

Western Union, on the other hand, will only exchange your $1,000 for 22,921,000 VND:

Ways To Send Money Internationally: Western Union USD to VND conversion

The discrepancy between the true exchange amount of 23,177,000 Vietnamese dong and the exchange amount of 22,291,000 Vietnamese dong provided by Western Union is 886,000.

The cost of converting 886,000 VND to USD is $38.23!

That’s how much money Western Union makes only from the exchange rate. On this specific currency pair, the difference in currency conversion is over 4%.

Ways To Send Money Internationally: USD to VND exchange rate

While sending $1,000 to Vietnam from the United States, using Western Union will cost you $86.23 if you use a credit card, $59.00 if you use a debit card, and $44.23 if you use a bank transfer when using a credit card.

Remember, this is for a $1,000 transfer. The more money you transfer, the more money they earn on the difference in exchange rates.

This is why it’s important to know what choices are available to you when sending money overseas.

Companies that handle money transfers

It’s difficult to determine which service to choose since there are so many that assist with international money transfers. You might be saddled with a lot of costs if you don’t make an educated selection, as we saw in the case above.

Fees, on the other hand, aren’t everything to everyone. Perhaps the money has to be delivered as quickly as possible, or perhaps you wish to have a variety of transfer alternatives.

Below are five prominent money transfer firms, each with its own set of advantages and disadvantages. Which one you should use is determined on your priorities:

Money Transfer Service Best For
Western Union Optional Transfers
Transferwise the cheapest (tie)
Zoom the quickest (tie)
OFX the cheapest (tie)
MoneyGram the quickest (tie)

Western Union logo

Best Transfer Options = Western Union

Western Union is a money transfer service.

Although I chastised Western Union for its costs, they do have a large global network of offices that span over 200 countries and provide a variety of options to send and receive money.

You may send money via their website or mobile app, and transfer it using a credit card, debit card, or bank account — or even cash at a local branch location.

Overall, transfers aren’t inexpensive, and delivery times vary depending on the method you pick, but they’re quite handy owing to the number of countries they serve and the number of offices you may visit.

TransferWise logo

TransferWise is the cheapest and easiest way to transfer money.

TransferWise has been changed to simply Wise as of 12/20/21. The rest of this review stays unchanged.

New customers will get a fee-free transfer of up to $600 when they join up. TransferWise is a service that I personally use and like.

They don’t charge a markup on exchange rates, and in most circumstances, you’ll pay a very low transfer cost based on the amount you send — generally less than 1%.

Expats who are paid in a foreign currency and wish to convert and transfer it to their home bank account use TransferWise.

Overall, TransferWise achieves a good mix between cost and ease. Although transfers take a few days to process, their costs are among the lowest in the industry, making them ideal for people who want to save money but don’t need the money right away.

Xoom logo

Xoom = Quickest

With Xoom, you can send money to anybody in the world.

Xoom is a PayPal-owned business that specializes in quick transactions to more than 70 countries. Some nations allow you to transfer up to $25,000, while others may only allow you to send $10,000 or less.

You may pay using a credit card, a debit card, or a bank account, and most money transactions are completed within minutes. Xoom is able to move money swiftly because it has partnered with large banks in other countries, allowing customers to have money sent to their bank accounts or available for cash collection right away.

Xoom lags behind rivals in terms of fees. Xoom generates money through marking up currency rates, in addition to possible transfer fees depending on which countries are involved.

Overall, Xoom is a great option to consider if the person you’re transferring money to need rapid access to the cash.

OFX logo

OFX stands for the cheapest (tie with TransferWise)

OFX is a money transfer service.

OFX is a web and mobile money transfer service that allows you to send money from the United States to more than 80 countries.

Its major benefit, like TransferWise’s, is the very cheap costs (no transfer fees and minimal exchange rate markups) and the lack of a maximum transfer amount restriction.

It is not ideal for everyone, however, since it requires both partners to have bank accounts and a minimum sum transferred of $1,000.

Also, don’t anticipate the same-day delivery that other transfer providers such as Xoom or MoneyGram provide.

Overall, OFX is the best option if you’re seeking for low-cost bank-to-bank transfers and don’t mind waiting a long time.

MoneyGram logo

MoneyGram is the quickest way to send money (tie with Xoom)

MoneyGram is a service that allows you to send money to anybody in the world.

MoneyGram, like Western Union, has a network of more than 200 sites throughout the world. Western Union’s business model is likewise extremely similar to theirs. Transfers to foreign bank accounts normally take just a few hours or one business day, while transfers between MoneyGram locations take only a few minutes to be ready for cash collection.

The fees are a disadvantage — they are not inexpensive. Exchange rates are also unfavorable, with average markups of more than 3%.

Overall, MoneyGram is a good choice if you value quickness above cost. MoneyGram’s transfer choices are all lightning quick (like Xoom) and they have a large network of locations (like Western Union).

Final Thoughts

Money transfer to other nations is incredibly popular, and it will only become more so as more people travel, live, and work in other countries. Because there are so many money transfer services available, it’s critical to consider what’s most essential to you.

Is it the quantity of choices? What are the most affordable fees? What is the quickest delivery?

With this knowledge, you can choose the finest money transfer firm for you.

The “online money transfer services in usa” is a service that allows users to send money internationally. There are many different ways to use this service, but the most popular way is through an online bank account or credit card.

Frequently Asked Questions

What is the best way to send money to a foreign country?

A: There are a variety of options for sending and receiving money internationally. For the best option, you should consult with your bank or an international financial service provider.

Is PayPal a good way to send money internationally?

A: PayPal is a very good way to send money internationally, as it is easy and reliable.

What is the best and quickest way to send money internationally?

A: The best way to send money internationally is to use an online payment system. PayPal and Payoneer are two such systems that accept international payments. Some banks also offer international wire transfers, but this can take a few days longer than the average transaction time of these other options.

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