How to transfer money internationally

How to transfer money internationally

How to transfer money overseas

The cheapest international money transfers are with TransferWise or WorldRemit. With TransferWise, the recipient will get the most money for the same transfer compared to other services.

The recipients must have access to a bank account, but these solutions are far cheaper than classic international transfer solutions such as Paypal or WesternUnion.

See below a guide on how to use Transfer Wise, and a comparison with other services, for the same 1000€ transfer:

  • with TransferWise, recipient will get 1132.95$ for 1000€,

  • with WorldRemit, recipient will receive 1123.52$ for 1000€,

  • with Paypal, recipient will receive 1095.97$ for 1000€,

  • with WesternUnion, recipient will receive 1076.55$ for 1000€.

WorldRemit transfer money internationally
TransferWise the best way to send money abroad

TransferWise international money transfer app

TransferWise: transfer money abroad, good conversion rate and cheap fee, the best online money transfer services app.

TransferWise the best way to send money abroad

Having utilized for a while several online solutions, including Western Union, bank exchanges, or Paypal, they all have 2 fundamental issues. They are costly, and not really straightforward.

Numerous steps required, the exchange rate and the service fee aren't clear, a considerable amount of data is required to set up the record or the exchange, with eventually several identification steps.

Western Union remains the best (or more like the only...) approach to send cash to someone which doesn't have a bank account at all.

Nevertheless, if the beneficiary do have a bank account, the best alternative is currently TransferWise!

Utilizing their services for over 5 years, with incredible satisfaction. The rate is constantly very low, the interface is easy to understand, the fee is minimal, and it is handled on time (2 to 3 business days with a bank exchange, or just 1 day with the credit card alternative).

You can even send a fixed amount to the recipient, or select how much you want to send. For example, if you need to send exactly 400 AED to UAE the following day, it is possible. The service will take a little security margin to make sure the payment can be fulfilled, and will give you back the difference.

Transferwise online money transfer

Transferwise the best way to send money abroad

It also supports numerous currencies – at the moment, you can send (and receive) in all of these currencies:

  • Australia AU Australian Dollar AUD,

  • Bulgaria BG Bulgarian Lev BGN,

  • Brazil BR Brazilian Real BRL,

  • Canada CA Canadian Dollar CAD,

  • Switzerland CH Swiss Franc CHF,

  • Czech Republic CZ Czech Koruna CZK,

  • Denmark DK Danish Krone DKK,

  • European Union EU Euro EUR,

  • United Kingdom UK British Pound GBP,

  • Hungary HU Hungarian Forint HUF,

  • Japan JP Japanese Yen JPY,

  • Norway NO Norwegian Krone NOK,

  • New Zealand NZ New Zealand Dollar NZD,

  • Poland PL Polish Zloty PLN,

  • Romania RO New Romanian Leu RON,

  • Sweden SE Swedish Krona SEK,

  • Singapore SG Singapore Dollar SGD,

  • United States US US Dollar USD.

How to transfer money internationally

Cheapest money transfer

You can also receive in the following currencies – not send yet, but it is probably only a question of time:

  • UAE United Arab Emirates AE UAE Dirham AED,

  • Bangladesh BD Bangladeshi Taka BDT,

  • Chile CL Chilean Peso CLP,

  • Georgia GE Georgian Lari GEL,

  • Hong Kong HK Hong Kong Dollar HKD,

  • Indonesia ID Indonesian Rupiah IDR,

  • India IN Indian Rupee INR,

  • South Korea KR South Korean Won KRW,

  • Sri Lanka LK Sri Lankan Rupee LKR,

  • Morocco MA Moroccan Dirham MAD,

  • Mexico MX Mexican Peso MXN,

  • Malaysia MY Malaysian Ringgit MYR,

  • Philippines PH Philippine Peso PHP,

  • Pakistan PK Pakistani Rupee PKR,

  • Russia RU Russian Ruble RUB,

  • Thailand TH Thai Bhat THB,

  • Turkey TR Turkish Lira TRY,

  • Ukraine UA Ukrainian Hryvnia UAH,

  • Vietnam VN Vietnamese Dong VND,

  • South Africa ZA South African Rand ZAR.

Transferwise setup account

To start, the login process is simple – only use your Facebook or Google account for example, you can then login with a single button click.

Therefore, if you need to proceed to an international money transfer, don't wait to use their awesome service!

International money transfer

For example, I successfully use it every month to transfer money from my Swiss bank account to my French bank, as I have a better credit card there for daily use.

I also used TransferWise for transfer payments to buy a Brazilian bikini in MI MorenaBeachwear's shop in Dubai, payment was even easier than a bank transfer.

Mi Morena beachwear on Facebook

Only had to get the contact bank details, setup a transfer for a fixed target amount, and start the transfer.

Money transfer credit card

Go even further by ordering a BorderLess credit card with your TransferWise account, a free debit card with which you will be able to pay in all currencies opened on TransferWise, after having setup a currency account, or any currency in the world with their cheapest international conversion fee.

TransferWise international money transfer app

However, World Remit has access to more countries than TransferWise, and is the second best option.

WorldRemit transfer money transfer money internationally

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