Find the Best Way to Transfer Money Abroad Online
International money transfer FAQs
This is the way you transfer money from your bank account in the United Kingdom to an account held by someone you know in another country. International money transfers are popular for both large one-off payments and small frequent remittance amounts.
Yes. These limits will vary depending on how much you wish to transfer, the countries you transfer money to, and what method of transfer you are using (be it a bank deposit, mobile payment, or cash pick-up).
For instance, OFX has a £100 minimum transfer amount. In comparison, Wise has no minimum and no maximum transfer amount. Meanwhile, WorldRemit has no minimum transfer amount and the maximum you can transfer using their service is £50,000 (by bank transfer).
If you want to keep your funds secure when you transfer large sums of money overseas, you have a few options. All the specialist providers we compare adhere to the strongest security standards and are fully regulated. They also strictly follow local and international laws to best service their customers.
- Bank transfer — you can send directly between your bank and a bank in another country, but you will pay high fees
- Online money transfer services — specialist providers like Wise are transparent, safe and fully regulated
- Peer-to-peer transfer services — companies like Wise and PayPal match you with people buying or selling the currency you want to exchange with
Different companies charge you different fees. When you transfer money abroad using your bank or international money transfer company, you could be charged fees in several ways:
- They may offer a slightly worse currency exchange rate, also known as the exchange rate markup.
- They may charge a fixed fee.
- They may charge a commission or service charge, also known as a percentage-based fee.
Something else to bear in mind — if you’re transferring money to someone else’s bank account, their bank may charge processing fees. A money transfer company has no influence on these fees, and you should speak to the receiving bank to understand how much they might charge.
Find out how much it really costs to send money internationally, and get the best rates.
Most services have smartphone apps so you can access and make money transfers on the go. You can install these apps on Apple and Android devices, then use them to create, pay for and track your international money transfer.
Here are some of the best apps from our specialist providers.
- Wise money transfer app
- WorldRemit money transfer app
- WorldFirst money transfer app (if you're transferring money outside of the US)
- OFX money transfer app
Learn more about the best international money transfer apps.