Top 3 Reliable Options for International Money Transfers
Discover the top three international money transfer services—OFX, MoneyGram, and Western Union—that offer affordable, fast, and reliable options for sending funds worldwide. Learn about their features, fees, and transfer methods to choose the best solution for your needs.
Sending money internationally can be straightforward with the right service provider. Numerous platforms now make overseas transactions simple and efficient, thanks to technological advancements. Knowing the most cost-effective, fastest, and most reliable options can help you transfer money smoothly to an international bank account.
Here are three top providers that stand out for their affordability, speed, and convenience—perfect solutions for international money transfers.
OFXOFX (formerly USForex) offers one of the most economical ways to send money abroad, featuring competitive exchange rates with less than 1% markup. It charges no transfer fees regardless of the amount transferred.
However, OFX only allows transfers to bank accounts, with a minimum transfer of $150. It supports transfers to 91 countries via mobile app, phone, or online. Delivery times vary, usually taking several business days. Another economical option is TransferWise, a UK-based service known for low costs.
MoneyGram
MoneyGram offers rapid international money transfers through its extensive network. Owned by Chinese firm Ant Financial, MoneyGram operates in over 200 countries with 350,000 locations, making it one of the world's leading services.
Transfer fees range from $9 to $25 for amounts between $200 and $1000, with markup rates varying from 1% to 6%. The maximum transfer limit per transaction is $2,999. For faster options, Xoom, owned by PayPal, provides quick online transfers.
The Western Union
As the largest global transfer company, Western Union offers multiple ways to send money—bank deposits, cash pickups, and online transfers. It operates in over 200 countries with 500,000 agents, facilitating quick transactions in urban and rural areas.
Transfer costs depend on the method and location. Cash pickups are swift, while bank deposits may take several days. For transfers up to $1000, fees range from $0 to $81. Choosing the right method depends on your urgency and cost considerations.
These options represent some of the best ways to send money internationally. When making such transfers occasionally, research is essential to select the most suitable and cost-effective solution for your needs.
