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Top 8 Best International Money Transfer Apps

Looking to transfer money internationally? Here are the best international money transfer apps and services to help you out.
best international money transfer app

Want to transfer money internationally without any limits? Stick around as I'll show you the best international money transfer apps that you can use to transfer money to any part of the world.

The U.S counts millions of immigrants whose figure constantly increases every year. As an immigrant that has settled in the U.S. or any outside country, you'll be looking for ways, services or apps to transfer money internationally so as to send money to your home country.

The best international money transfer apps or services are those apps that let you transfer money to any country from your home country, at the same time offering competitive pricing and easy-to-use money transfer features through their apps.

Since the evolution on money transfer apps, transferring money to and from any part of the world has become even easier.

The best part is, getting started with these international money transfer apps is very easy. All you'll need is to download the official app, signup for an account and complete some little verifications to secure your funds with the app.

How do international money transfer apps work? It is easy.

Let's say for instance, Wise a well-known money transfer app that offers competitive transfer fees is a service that lets you transfer money internationally from the US, the UK, and Europe to more than 80 countries. All you'll need to do is to download the Wise app, signup for an account and complete some little verifications to start transferring money with convenience.

However, Wise transfers money best within European countries where currency conversion between countries isn't much required.

That said, you'll need to be choose the international money transfer app based on the country to which they send money best without much considered as fees.

To help you out, we've compiled the best international money transfer apps that will help you take total control over your money transfer transactions.

Table of Contents

What is an International Money Transfer App?

Money transfer apps, also known as money transfer services, are those apps that allow you to send money quickly, easily, affordably, and securely from one person or entity to another.

They make payments easier and give you the option to link your bank or credit card account to a digital wallet.

How Do International Money Transfer Apps Work?

You can quickly and easily transfer money using international money transfer apps. Other apps transfer your money from one bank to another while others hold it. Some money transfer apps cater specifically to the needs of the user.

Also Read: Best Untraceable Money Transfer Apps

8 Best International Money Transfer Apps

The best international money transfer apps are those apps that let you send money to many countries, support multiple currencies, offer competitive transfer and conversion fees.

While most international money transfer apps let you send money only to a few countries, others will let you transfer money to more other countries and support many different currencies.

That being said, here are the best international money transfer app that will let you transfer money internationally.

  1. PayPal — Overall Best International Money Transfer App.
  2. Remitly — Best International Money Transfer App.
  3. Wise — Best Cheapest App For International Money Transfer.
  4. WorldRemit — Best International Money Transfer App With No Minimum Amount.
  5. OFX — Best International Money Transfer App For Higher Amounts.
  6. Xoom by PayPal — Cheap International Money Transfer App.
  7. Western Union — Popular International Money Transfer App With Uncompetitive Rates.
  8. MoneyGram — Popular International Money Transfer App.

1. PayPal — Overall Best International Money Transfer App

PayPal is without doubts one of the best international money transfer apps with over 429 million active users, allowing users send and receive money to and from any part of the world.

PayPal is available in over 200 countries/regions and supports 25 currencies as of this writing.

PayPal is ideal for both individuals and businesses looking for a convenient way to receive payments from customers.

Getting started with PayPal is very easy and all you'll need to do is to visit the PayPal website, choose which account you'll want to create (personal or business) and create your account within minutes.

Sending money on PayPal is easy and can be done with some few button clicks.

2. Remitly — Best International Money Transfer App

Remitly is probably one of the best apps to send money internationally that was established in 2011 and allows international money transfers to more than 100 destinations from the US and 16 other countries, primarily from the developed world.

Because of his difficulties with international money transfers while working for Barclays in Kenya, the app's co-founder Matt Oppenheimer placed a special emphasis on including small African nations like Cote d'Ivoire and Liberia.

Remitly offers transfers to mobile wallets and bank accounts, which are typically less expensive than transfers to banks.

In accordance with the accessibility of the receiving nation, it also provides cash pickup and delivery. The platform has extensive coverage for mobile wallets and most significant banks.

Remitly's foreign exchange rates to convert US dollars were, on average, 2% less than the real-time rates on CNBC's dashboard over three days in mid-July 2021 when we tried five different currencies.

This means that compared to exchange markets, the app offers you slightly less value for each dollar spent.

Remitly would only make an offer of $729.30, for instance, if one dollar in these markets was worth $743 Chilean pesos.

Remitly's transfer fees are typically under 5% of the transferred amount, but they can vary depending on the currency and whether you use a card (Economy) or your bank account (Express).

For instance, transferring $1,000 in US dollars using the Chilean peso can cost $2.49 in Economy mode and $20 in Express mode.

Your choice of transfer method will also affect how long it takes your money to reach its destination; it could take minutes or as long as one business day.

3. Wise — Cheapest Best App For International Money Transfer

Wise, which was first introduced as TransferWise and has been around since 2010, currently oversees about 10 million users globally.

Through the platform, you can send money internationally to more than 80 countries, many of which are in Eastern Europe, from the US and the UK.

If you're constantly monitoring currency exchange markets, one important feature is the ability to hold multiple currencies in the app's digital wallet and convert them to US dollars or vice versa whenever it's most convenient for you.

Additionally, Wise generates local account numbers so you can send and receive payments in ten different currencies as if they were local transactions.

Although Wise has excellent coverage and lets you send money to nearly any bank, it doesn't offer cash pickup, utility bill payments, or mobile wallets.

However, the platform makes up for what it lacks in services with foreign exchange rates.

When we compared five different currencies, Wise consistently offered the highest value per US dollar. For instance, Wise gave us the same price if $1 was $5.26 in Brazilian reals on CNBC's dashboard.

The fees charged by Wise are typically less than 5%, and they decrease the more money you transfer.

For instance, the fee for transferring $100 to Peru is $4.37 (4.4 percent), while the fee for sending $1,000 to the Philippines is $6.60 (0.7 percent).

Finally, just like with Remitly, the time it takes for your money to arrive in the recipient country can range from minutes to three business days.

4. WorldRemit — Best International Money Transfer App With No Minimum Amount

WorldRemit is one of the best international money transfer apps that let you send money from the US and 49 other countries to more than 130 locations.

WorldRemit is widely used in Africa and allows international money transfers from six African nations. Many consider WorldRemit as the best international money transfer app in Africa.

This platform provides payments for utility bills, phone recharge services, and transfers to banks and mobile wallets.

Although cash pickup is also an option, WorldRemit doesn't support as many major banks as the other apps on this list do.

WorldRemit's exchange rates were, on average, 1.6 percent lower than the real-time rates displayed on CNBC's dashboard using five different currencies over three consecutive days.

Consequently, the app would provide a quote of $19.70 pesos if $1 was equal to $20 Mexican pesos, making it the second-best option out of the these best international money transfer apps.

5. OFX — Best International Money Transfer App For Higher Amounts

OFX is another international money transfer app that specialized in sending only large amounts of money.

The OFX app lets you send money transfers of $1,000 or more to 195 countries. The app also allows you to open an OFX account, track transfers, view historical and real-time exchange rates, and set rate alerts.

The amount you can send is generally not limited by OFX for the majority of currencies. Some countries will apply an upper limit to their currencies.

Despite the fact that transactions are free, OFX charges a small margin on currency exchange rates.

The more you send, the better value OFX becomes.

Their exchange rates and fees do make them more expensive than other providers for smaller amounts.

Their exchange rates become extremely competitive when sending larger sums, and their fees stay low.

6. Xoom by PayPal — Cheap International Money Transfer Service

2001 saw the release of Xoom, and PayPal bought the company in 2015. It had more than a million users worldwide at that time.

If you use PayPal, this may be a good option for you as the app is now a part of a larger infrastructure serving more than 250 million users. 

60 countries, including tiny island nations like the Seychelles and Dominica, can be reached by using Xoom to send money internationally from the US, the UK, and 32 markets in Europe.

Bank transfers, cash pickups, utility bill payments, phone recharges, and transfers to mobile wallets are all available through Xoom.

Make sure to check the list to see if the recipient's financial institution is included because bank coverage is constrained and varies by the nation you are sending money to.

Since currency exchange is how Xoom makes money, its exchange rates are the most expensive on this list. Out of all these international money transfer apps, Xoom's rates provided the least value per US dollar when using five different currencies.

Therefore, Xoom's rate would be $48.16 if $1 were valued at $50.24 Philippine pesos on CNBC's dashboard, which equals a 4 percent loss.

Even though exchange rates are not Xoom's strong suit, the fees are where it really shines. They are typically fixed regardless of the amount you send and range between $1 and $5 for transfers of $100 in four different currencies.

In fact, transfers over $100 made in currencies like the Mexican peso or the Philippine peso may not incur any fees.

Xoom might not be the best choice for you if you need to get your money where it needs to go quickly; depending on the delivery method, the platform can take up to two business days to deliver your bills.

7. Western Union — Popular International Money Transfer App

Oh! Western Union the giant and most popular international money transfer apps that lets you send money basically to any country in the world including Africa. As a result, Western Union is regarded by many as the best money app to Africa.

Western Union has more than 500,000 agents worldwide, but their exchange rates and fees are not very competitive.

They offer instant transfers and have cash collection points.

Unfortunately, it is difficult to comprehend or calculate the fees that Western Union charges.

They are one of the more expensive international money transfer services, and their fees do differ significantly depending on the nations and currencies you are sending to and from.

Depending on the services you want to use, Western Union does have a limit on the amount you can send.

The upper limits are typically $500 to $2,500 USD, but they can change depending on the country, the currency, and the services.

8. MoneyGram — Popular International Money Transfer App

MoneyGram offers international money transfer services and other financial services around the globe with both digital platforms and retail locations to more than 200 countries and territories.

Additionally, you'll have access to a map showing all of the locations of agents around the world, along with information on how to get to them and when you can pick up cash.

With reasonable fees and favorable exchange rates, customers can pay their bills, send money to friends and family abroad, and do much more.

More than 150 million customers trust MoneyGram, and they can send money via our highly regarded mobile app, online, or at one of our 380,000+ locations.

Cheapest App To Send Money Internationally

The cheapest apps to send money internationally are those that let you send money to foreign countries at competitive rates. They are as follows;

  1. PayPal
  2. Wise
  3. Remitly
  4. WorldRemit
  5. OFX

Are International Money Transfer Apps and Services Safe to Use?

Generally speaking, international money transfer apps provide strong security features to safeguard your funds.

It's crucial to realize, though, that you might not get your money back if you send it to the wrong person.

International money transfer services may not assist in the recovery of misdirected funds. Sending money to strangers is never a good idea.

How Long Does It Take to Internationally Transfer Money With an App?

Each international money transfer app has its own timeframe of sending money. Some transfers happen right away, while others can take several days.

When selecting the best international money transfer app, keep your needs and time constraints in mind.

Final Thoughts

International money transfer apps have made it easier for many individuals to send money to their home countries without going through much hassle.

When selecting an international money transfer app, make sure it sends money to the country you want to send money and that it offers competitive transfer rates.

Don't forget to take an app that works best for the amount you want to transfer. For instance, someone wanting to transfer as little as $100 internationally can use Remitly, Wise or Xoom by PayPal to transfer the funds.

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About the Author

Hi everyone, I'm Tebid Kelly! Shopping is my passion, and I'm known for scoring the best deals and navigating the online shopping world with ease. With years of experience using various digital payment apps like Apple Pay, Google Pay, Cash A…

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