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Reviews By Richard Berry - Updated
International Money transfer apps are the quickest and cheapest way to send money abroad, with better exchange rates and less admin fees than banks.
In this guide, Good Money Guide compares and reviews the best money transfer apps. We’ve looked at pricing, fees, speed, transaction size, and how many currencies and countries they offer.
You can then choose the best money transfer app that suits your needs for sending money abroad.
| Money Transfer App | Currencies | Min | Max | Bank Transfer | Credit Card | Debit Card | Cash | Customer Reviews | More Info |
|---|---|---|---|---|---|---|---|---|---|
 | 50 | £1 | £1m | ✔️ | ✔️ | ✔️ | ❌ | (Based on 217 reviews) | See Rates |
 | 130 | £1 | £50k | ✔️ | ✔️ | ✔️ | ✔️ | (Based on 122 reviews) | See Rates |
 | 75 | £1 | £5k | ✔️ | ✔️ | ✔️ | ❌ | (Based on 24,642 reviews) | See Rates |
 | 98 | £1 | £500k | ✔️ | ✔️ | ✔️ | ❌ | (Based on 117 reviews) | See Rates |
❓ The Good Money Guide review team brings you the best money transfer apps based on:
- Our 20 years in the foreign exchange industry
- Over 30,000 customer votes and reviews in the exclusive Good Money Guide awards
- Interviews with the currency broker CEOs and senior management
- Hands-on, thorough analysis and testing of the money transfer apps and pricing
Wise: Best Overall International Money Transfer App
🏆Award Winner🏆
- Currencies: 50+
- Minimum transfer: £1
- Maximum transfer: £1m
- Deposit methods: Bank transfer, credit/debit card
Wise won “Best Money Transfer App” in the 2024 Good Money Guide Awards because of its low costs, simple-to-use app, and range of currencies.
Wise Won Best Money Transfer App in the 2025 Good Money Guide Awards
Provider: Wise
Verdict: Wise is one of the best (and cheapest) money transfer apps for sending currency abroad since it pioneered peer-to-peer (P2P) low cost international payments. Wise helps people send money abroad for much less than it would cost to do it through a high street bank. It was launched as TransferWise in 2011 as a P2P currency network, but has since grown to provide money transfers to over 15 million customers sending more than £9 billion a month.
Is Wise a Good Money Transfer App?
Yes, Wise is one of the cheapest and easiest ways to send money abroad. Highly recommended. Wise also won Best Money Transfer App in the 2025 Good Money Guide Awards.
But in a nutshell… Should you use Wise? Yes. Is it cheap? Yes. Is it easy to use? Yes. Is it safe? Yes.
Since Wise was founded back in 2011, I’ve followed its progress. There are many firms that shout loudly about wanting to disrupt an industry. But most of the time, it’s marketing hyperbole.
However, in Wise’s case, it has disrupted how we send money around the world – by making it cheap and making it easy.
The only reason not to use Wise is if you already bank with Starling, as the fees are pretty similar and you probably don’t want another app on your phone if you don’t need it.
Truly Disruptive
A few years ago, before Wise was founded, I wanted to send €30 to a friend in Munich. It was an absolute nightmare. I was banking with NatWest, which wanted £20 as a minimum fee for sending the money to a European bank account. Next I tried PayPal – still expensive. So I withdrew €30 in cash from a Euro cash machine in London, put it in an envelope and sent it through the post.
The only other option was the inconvenience of visiting a Western Union shop.
Thankfully along came TransferWise. It was a boom time for money transfer apps but this one had the best story: it was circumventing “evil” banks by transferring money abroad using P2P networks. If you needed to transfer €30 to Germany, it matched you with someone in Germany who wanted to transfer €30 to England. No need to do any FX, and therefore less in fees to pay.
It also had fantastic marketing – for example stripping off to the pants in front of the Bank of England to protest “rip-off” banking charges. It was a stroke of genius, really, as British people love seeing naked people, and hate banks.
Of course liquidity gaps need to be filled when there isn’t someone on the other side of your transaction and TransferWise used firms like Currency Cloud (now owned by Visa) to ensure that customers always got the best price.
Richard Branson was also an investor. So there you go.
Over the years, Wise as grown by being easy to use and charging low fees.
How Does Wise Work?
Wise offers international money transfers and a multi-currency account with a pre-paid card. You can send 40+ currencies to 160+ countries, and hold 40+ currencies in a Wise account.
You can pay into your Wise account by debit card, credit card or bank transfer. If you have funds in a multi-currency account, you can use those to fund a transfer when sending money abroad. And you can choose to lock in a rate for up to 48 hours.
Wise says international transfers typically arrive in seconds.
Wise matches up buyers and sellers of currency in different countries, rather than physically transferring money internationally.
Wise Customer Service
We’ve marked Wise down a bit as it doesn’t provide a telephone number. This is fine for small transactions but if you’re sending a large amount of money abroad, you may be better off using a currency broker. Wise does offer a call back service for amounts over £80,000, though.
With a broker, you can phone up an account executive or dedicated dealer, who can provide updates on your transfer or help out immediately with any issues.
But all in all, Wise customer support, is fairly efficient.
Is Wise Safe?
Wise is about as safe as you can get for sending small amounts of money abroad.
Wise is not a bank – it doesn’t have a banking licence in the UK but is authorised by the Financial Conduct Authority as an “e-money business”, which means funds are ring-fenced but not protected by the Financial Services Compensation Scheme (FSCS).
Wise is listed on the LSE (LON:WISE) with at market cap of around £11.7 billion, as at June 2025. That is well up from where it was at its IPO, but even though lots of tech firms listed in 2021, it was a pretty bad time to come to market, and most have performed poorly since then because of overall market conditions and over ambitions venture capitalists wanting a return on their investments. So the stock markets also think Wise is pretty good.
Since TransferWise launched, the group has grown to provide money transfers to over 15 million customers sending more than £9 billion a month.
It’s a shame it is planning on ditching the London stock markets for the glamour of high valuations in the US.
Using a listed app is helpful as you can see how it’s faring financially. If the Wise share price starts to go down, this could indicate potential financial problems and be a sign to switch to a different app.
Apps & Platform
Wise makes it incredibly easy to transfer money abroad – the app is really simple to use. If you have a large amount of money to send, you’re better off with a currency broker because they can help with market timing and lock in exchange rates with forward contracts and currency options. Plus if you ask nicely and are transferring enough money, a broker might undercut Wise’s exchange rates and fees. Remember, that in FX, everything is negotiable.
Wise is also venturing into other products, like multi-currency bank accounts and investing.
Pricing
Wise is among the cheapest money transfer apps and it displays the fees clearly on the website and app, but it’s not the absolute cheapest. We found Atlantic Money offering GBP-USD transfers at the interbank rate plus £3. But I suspect that isn’t sustainable and it’s only one corridor, while Wise offers 21 currencies. If you want to know more about Atlantic Money, you can read my interview with the founders, Neeraj Baid and Patrick Kavanagh (who helped build Robinhood), and make up your own mind about the service.
Research & Analysis
Wise doesn’t really have any currency forecasts, which is fine because exchange rates are hard to predict. But it would be nice to have at least some commentary on the markets.
We’ve given Wise a mid-ranking for research and analysis as it does provide lots of excellent guides online and has a good insight tab on the app which can help you see where your account money is being spent.
If you want currency forecasts, you can read our regularly updated analysis of whether now’s a good time to buy USD or EUR.
Is Wise a Bank?
No. The company does not hold a UK banking licence and your balance is not protected by the FSCS.
Wise is primarily a low-cost international money transfer app that allows you to save money when sending money abroad. However, Wise provides some of the features that banks also provide, such as holding and exchanging multiple currencies, and sending and receiving payments. And you can have a multi-currency account with a pre-paid debit card.
The firm is authorised as an “e-money” provider, which means your money has some protection but not as much as it would have with a bank. Money in bank accounts is protected by the FSCS guarantee, which covers balances up to £85,000 per eligible person, per bank.
Wise lets customers send payments to more than 160 countries and spend internationally with the Wise card. Local bank details are provided for up to 9 currencies including US dollars, pounds sterling and euros.
If you are looking for a bank account in the UK, you can see a list of current bank account switching offers here.
Pros
- Cheap
- Easy
- Fast
Cons
- Phone support hard to find
- Only suitable for smaller transfers
- Pricing (5)
- Currencies (4.5)
- Online Platform (4.5)
- Customer Service (4)
- Research & Analysis (3)
Overall
4.2What next?
Western Union: Best App For Small Money Transfers & Cash
- Currencies: 130+
- Minimum transfer: £1
- Maximum transfer: £50k
- Deposit methods: Bank transfer, credit/debit card, cash
Western Union Review
Provider: Western Union
Verdict: Western Union lets you send money to more than 200 countries around the world. It was founded in 1851 in Rochester, New York, and was named the Western Union Telegraph Company when the New York & Western Union Telegraph Company merged with the rival New York and Mississippi Valley Printing Telegraph Company in 1856. It was a pioneer in transmitting telegrams and in 1871 it introduced a money transfer service through its extensive telegraph network. It stopped sending telegrams in 2006 and now offers money transfers to almost every country in the world. Today it has 150 million retail and digital customers with its headquarters in Denver, Colorado.
Summary
Western Union has made a real effort recently to modernise it’s app and reduce exchange rates and fees to compete with new start-ups. Still, one of the best ways to send cash abroad and now very competitive for smaller electronic transfers.
Pros
- Better exchange rates
- Cash drop-off and pick-up
- Good app and website transfers
Cons
- Still not as cheap as some
- Exchange Rates (4.5)
- Available Currencies (5)
- Online Platform (5)
- Customer Service (3)
- Research & Analysis (3)
Overall
4.1What next?
Remitly: No Fees On Your First Money Transfer
- Currencies: 75+
- Minimum transfer: £1
- Maximum transfer: £5k
- Deposit methods: Bank transfer, credit/debit card
Remitly Review
Provider: Remitly
Verdict: Remitly is a low-cost money transfer app that was founded in 2011. Since then it has grown to service over 4.5 million active customers transferring money to 13 different countries. Remitly went public in 2021, and it’s shares are listed on the NASDAQ exchange valuing the company at around $4.9bn.
Summary
Remitly is a cheap and easy way to send small amounts of money abroad. Especially if you are a new customer, as you get better exchange rates on your first £1,000 sent abroad.
Pros
- Cheap
- Easy
- Safe
Cons
- Limited FX analysis
- Limited educational articles
- Online only
- Pricing (4.5)
- Market Access (3.5)
- Online Platform (4.5)
- Customer Service (4.5)
- Research & Analysis (2)
Overall
3.8What next?
Xe: Simple low cost international money transfer app
- Currencies: 98+
- Minimum transfer: £1
- Maximum transfer: £500k
- Deposit methods: Bank transfer, credit/debit card
Xe Money Transfers Expert Review
Provider: Xe
Verdict: Xe started off life as an online currency conversion calculator, then started flogging the data to currency transfer providers, then in 2002 decided to compete with all it’s customers and offer online money transfers (which it provides through HiFX in the UK. At the time, HiFX was one of the largest money transfer providers in the UK, but as Xe.com is one of the largest currency conversion calculators in the world (in the top 500 websites by traffic) HiFX decided to rebrand to Xe.
Is Xe a good international money transfer app?
Xe is a good option if you are looking for cheap no no-frills, small to medium-sized currency transfers from a trusted and well-established brand. However, if you have a large amount of currency to transfer and need personal service, you are better off with a currency broker.
I’ve always liked Xe.com, the website has always been an excellent resource for currency information. But ever since they were bought by Euronet under their HiFX brand in 2017 you can now use them for international currency transfers. They offer loads of currencies, a slick app, and the ability to send money by debit, credit card and bank transfer to other bank accounts, to be picked up as cash or to a mobile wallet. As international payments have grown in popularity you can also use them for business international payments.
Is Xe cheap for international money transfers?
I’m not sure Xe is as cheap as it used to be. When I was testing the app it looks like Xe exchange rates are around 1% from the midmarket. When I requested some quotes, the midmarket was 1.3294 for GBPUSD, and Xe quoted me 1.3186. Doing it the other way round, the USDGBP rate was 0.7522 and Xe quoted 0.7458 (about 0.85%) away from the mid-market.
It’s a bit frustrating that money transfer apps are still hiding fees in the exchange rate market up (read my guide on how to compare exchange rates here). Especially when it says there is no send fee. Granted, “Send Fee” and “Exchange Rate Market Up” are two different things, but it still stinks.
Is Xe safe for money transfers?
Yes, we rate Xe.com as a safe way to send money abroad as they have been established since 1995, owned by a larger parent company and are authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, registration 462444, for the provision of payment services.
Who owns Xe.com money transfers?
Xe.com is ultimately owned by Euronet Worldwide Inc, which is a public company listed on the NASDAQ with the ticker code EEFT. Xe.com is managed by HiFX, which acquired XE.com in 2017. Prior to this HiFX only offered money transfer services for business, but the acquisition enabled them to offer individual currency transfers. You can see thier share price and how much they are worth below.
Pros
- Discounted exchange rates
- Good data and charting
- Good currency calculator
Cons
- Not suitable for large transfers
- No forwards or hedging
- Exchange Rates (4)
- Available Currencies (4)
- App & Platform (4)
- Customer Service (4)
- Research & Analysis (3)
Overall
3.8What Are Money Transfer Apps?
Money transfer apps let you send money cheaply and quickly to other countries and people around the world. They are cheaper because they provide better exchange rates and lower fees than banks. As they are specialist apps, it is quicker for the recipient to receive money as well.
An international money transfer, or ‘currency transfer’, is a way of sending money abroad. Usually, it involves sending money from a bank account in one country to a bank account in another country. Depending on which money transfer provider you use, the money could be transferred almost instantly.
⚠️ Good Money Guide’s top rated money transfer apps are regulated by the FCA
All international money transfer apps that operate in the UK must be regulated by the FCA. The FCA is the Financial Conduct Authority.
They ensure each platform treats their customers fairly, has good compliance systems, and are properly capitalised.
Are Money Transfer Apps Better Than Banks?
Here is a round-up of the advantages and disadvantages of using a money transfer app versus your bank
Pros
- Quick: Some money transfer apps like Wise offer instant peer2peer transfers
- Cheap: Money transfer apps have better exchange rates than banks
- Easy: The apps are generally very simple as opposed to banking legacy systems
Cons
- Safety: Funds in money transfer apps are not protected under the FSCS like bank accounts
- Speed: Sometimes it can be quicker to send money through PayPal (US transfers, for example can take days with Wise)
- Admin: You need to open a brand new account have a new app on your phone and go through AML checks
International Money Transfer App FAQS
To avoid fees when making international money transfers, you should;
- Choose a money transfer app that offers no fees. These apps include their fees in the exchange rate, rather than charge seperately.
- Check the exchange rates your money transfer provider is offering to make sure they are competitive. You can do this in our currency quote comparison tool.
- Avoid high street banks for your transfers. Banks normally charge high fees for international transfers or offer much worse exchange rates.
- Paying via bank transfer or debit card as this can work out cheaper than credit cards or cash.
Not really, money transfer apps, usually have limits on how much you can send. See our money transfer comparison table to see the max send limits. If you wish to transfer a large sum of money, it can be worth using a currency broker instead of a money transfer provider. Currency brokers tend to specialise in large transfers, meaning that they may be able to make the process more efficient and cost-effective for you. You can find out more about using a currency broker to transfer a large sum of money here.
One advantage of using a currency broker for larger transfers is that they tend to have higher maximum transfer limits than money transfer companies. For example, whereas Wise has a limit of $200,000 for GBP to USD transfers, Currencies Direct allows you to transfer £300,000.
- Want to send a large amount of money abroad? You can compare currency brokers for large currency transfers here
When transferring large amounts of money internationally, it’s crucial to compare providers to ensure that you get the best overall deal. With large transfers, even small differences in exchange rates can make a big difference to the money received or spent. As well as considering the exchange rates on offer, it’s important to consider other factors such as speed of transfer, hidden fees and charges, and security.
It’s also a good idea to contact your bank before making a large payment to a currency broker. Many banks only let you transfer a certain amount of money online per day. Lloyds Bank, for example, has a limit of £25,000.
To make a large transfer, you may have to provide the currency broker with some extra information, such as the source of funds, Swift bank codes, additional ID, and more.
- Further information – Read our guide to large currency transfers.
Yes you can send money instantly. To send money abroad instantly, you will need to find a money transfer company that offers this. Fore example Wise offers instant money transfers.
It’s worth noting that while many companies advertise that they offer ‘instant’ transfers, these transfers are often not really instant. In reality, they can take several minutes or even hours to go through.
To make an instant transfer, you may have to pay in a certain way. For example, you may have to pay by debit card instead of bank transfer. You may also have to pay a higher fee.
If you need your money to reach the recipient account by the next day, it’s generally worth doing an instant transfer. Otherwise, you run the risk that your payment may not arrive in time.
The safest way to send money internationally is through an FCA-regulated money transfer firm like Wise, Western Union or Remitly. Companies that are regulated by the FCA have to follow certain rules that are designed to protect consumers. For example, they are required to ‘safeguard’ your money by keeping it separate from their money. This means you will likely get your money back if the company goes bust. Using a regulated money transfer provider can also help protect you from scams and fraud – which are very common in the payments space. You can check if a company is regulated by the FCA on the FCA’s website.
It’s important to understand that money transfer companies are generally not covered by the UK’s Financial Services Compensation Scheme (FSCS). That’s because the FSCS is only available to UK-authorised banks, building societies, and credit unions. Most money transfer companies are classified as ‘e-money institutions’. E-money institutions are still required to keep clients’ money safe and secure. However, they do this differently to traditional banks.
To ensure that you are sending money safely, it’s a good idea to use a provider that offers a high level of security. Ideally, a provider should offer:
- Two-factor authentication for logins
- Data encryption
- 3D Secure authentication for card payments
- Anti-fraud monitoring
- Regular auditing
If you want to send money abroad, it is much cheaper to use an international money transfer provider compared to your bank. Money transfer companies specialise in currency transfers, and as a result, tend to offer better exchange rates than the high street banks, as well as faster, more efficient transfers.
Transferring money to a foreign bank account can be much faster and cheaper when you use a money transfer company over a bank because money transfer companies are much quicker to handle and process your transactions and normally offer exchange rates much closer to the market than high street banks.
You will also be able to get an idea of the different types of service each provider can offer, the steps you will need to follow and the information you will need to provide to start your transfer. Many money transfer companies will also give you an idea of how long your money will take to arrive.
Here is how to compare money transfer companies in the UK to help you find the best service to send money abroad or receive money from overseas.
People make international money transfers for many reasons, including:
- To send money to family and friends overseas.
- To pay for goods and services from a company that is based overseas.
- To send money home when working abroad.
- To send money to an international bank account.
- To cover the deposit when buying property abroad.
You can use international money transfers to make both one-off and regular payments overseas.
When comparing money transfer companies, there are a number of things to consider, including:
- Fees and charges
- Transfer speed
- transfer options
- Safety of funds
- Regulation
Fees & Charges
Every provider has different fees and charges, and it’s important to understand how these work. Some providers, such as Wise, offer excellent exchange rates but then charge a small transaction fee. Others have no transaction fees, but offer less attractive exchange rates. Fees may also depend on your method of payment and how quickly you need the transfer processed. When comparing fees and charges, it’s sensible to visit the websites of a few different providers and input your planned transfer to see the rates and charges different firms are offering. Make sure you consider the size of your planned transaction and whether you are likely to make frequent transactions, as many providers offer fees and exchange rates that vary depending on transaction size and frequency.
Transfer Speeds
Transaction speed varies among providers. Some offer instant transfers, while others offer slower transfers that can take a few days or even weeks. Speed may depend on your method of payment. For example, if you pay with a debit card, it may be faster than if you pay by bank transfer.
Transfer Options
Some providers do not offer money transfers to certain countries, so it’s important to check what countries you can transfer money to. Some money transfer providers offer more features than others. One example of a feature is a ‘limit order’. With a limit order, you set instructions to carry out your money transfer once the exchange rate reaches a certain level. Another example is a ‘forward contract’. These allow you to book money transfers for the future at rates that are locked in today.
Safety Of Funds
We only feature money transfer apps that are regulated by the FCA (Financial Conduct Authority) that offer a high level of security and provide features such as two-factor authentication for logins, encryption, 3D Secure authentication for card payments, and fraud monitoring to keep your money secure.
Regulation
It’s important to use a transfer provider that is regulated by a financial regulator such as the Financial Conduct Authority (FCA). Companies that are regulated have to follow certain rules that are designed to protect consumers. For example, they have to keep your money separate from their money.
Richard Berry
This article contains affiliate links which may earn us some form of income if you go on to open an account. However, if you would rather visit the money transfer providers via a non-affiliate link, you can view them directly here:
