-
Reviews By
Richard Berry
- Updated
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 in America. 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.
Best American Money Transfer Apps Compared
| Money Transfer App | Currencies Available | Min Transfer | Max Transfer | Bank Transfer | Credit Card | Debit Card | Cash Accepted | GMG Rating | More Info |
|---|---|---|---|---|---|---|---|---|---|
 | 50 | $1 | $1m | ✔️ | ✔️ | ✔️ | ❌ | See Rates | |
 | 130 | $1 | $50k | ✔️ | ✔️ | ✔️ | ✔️ | See Rates | |
 | 75 | $1 | $5k | ✔️ | ✔️ | ✔️ | ❌ | See Rates | |
 | 98 | $1 | $500k | ✔️ | ✔️ | ✔️ | ❌ | See Rates |
Our reviews of the best money transfer apps in America
❓ 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 in the exclusive Good Money Guide awards
- Interviews with the money transfer CEOs and senior management
- Hands-on, thorough analysis and testing of the money transfer apps and pricing
#1 Wise: A Truly Disruptive Money Transfer App
- Currencies: 50+
- Minimum transfer: 1 USD
- Maximum transfer: 1m USD
- Deposit methods: Bank transfer, credit/debit card
Wise Review
Name: Wise
Description: Wise is a low cost international money transfer app that helps people send money abroad for much less than it would cost to do it through their banks. Wise was launched as Transferwise in 2010 as a peer to peer currency network, but has since grown to provide money transfers to over 15 million customers sending more than £9 billion a month.
Are Wise a good money transfer app?
Yes, Wise is one of the cheapest and easiest ways to send money abroad. Highly recommended.
But in a nutshell… Should you use Wise? Yes. Are they cheap? Yes. Is it easy to use? Yes. Are they safe? Yes.
Since Wise was founded way back in 2011 I’ve followed their progress. There are many firms that shout loudly about wanting to disrupt an industry. But most of the time, it is marketing hyperbole.
However, in Wise’s case they have actually disrupted how we send money around the world. They’ve done this by doing two things, making it cheap and making it easy.
The only reason not to use them really, is if you already bank with Starling whose fees are pretty similar and don’t want another app on your phone…
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?
#2 Western Union: Best App For Small Money Transfers & Cash
- Currencies: 130+
- Minimum transfer: 1 USD
- Maximum transfer: 50k USD
- Deposit methods: Bank transfer, credit/debit card, cash
Western Union Review
Name: Western Union
Description: 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?
#3 Remitly: No Fees On Your First Money Transfer
- Currencies: 75+
- Minimum transfer: 1 USD
- Maximum transfer: 5k USD
- Deposit methods: Bank transfer, credit/debit card
Remitly Review
Name: Remitly
Description: 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?
#4 Xe: Simple, Online Money Transfers
- Currencies: 98+
- Minimum transfer: 1 USD
- Maximum transfer: 500k USD
- Deposit methods: Bank transfer, credit/debit card
Xe Review
Name: Xe
Description: 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?
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. In our review, we rate Xe as a safe, quick and cheap way to transfer money abroad.
Xe is a good option if you are looking for cheap 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.
Xe is now part of the Euronet Worldwide family, who were recognised as leaders in the currency exchange space. It aims to offer the most simple, reliable, and friendly money transfer service.
XE offers:
- Good exchange rates. XE uses mid-market rates.
- Transfers to more than 130 countries.
- Fast delivery.
- Transparent delivery times so that you can move money fast.
- Tools such as currency charts and alerts. You can set an alert so that you never miss your desired rate.
- A good app that allows you to make transfers on the go.
One downside to XE is that fees and charges can be higher than those of some other providers. Overall, however, it’s a very solid provider and one that is well suited to more sophisticated users.
When comparing money transfer providers, user reviews can help you determine which providers are the best. Here are independently sourced and verified money transfer company reviews to help you decide which money transfer service to use.
Pros
- Discounted exchange rates
- Good data and charting
- Good currency calculator
Cons
- Not suitable for large transfers
- No forwards or hedging
-
Exchange Rates
(4.5)
-
Available Currencies
(4)
-
Online Platform
(4)
-
Customer Service
(4)
-
Research & Analysis
(3)
Overall
3.9What next?
