The Best International Money Transfer Apps in 2024

Key takeaways

• Look for money transfer apps with competitive exchange rates, low fees, and a wide range of currencies for global coverage.

• Consider factors like transfer speed, security features, and ease of use when choosing your preferred app.

• Transfer needs often vary, consider using apps that offer a variety of transfer methods to satisfy an array of requirements.

Thanks to a surge of innovative apps, navigating the world of international money transfers has never been easier. Gone are the days of long bank queues and exorbitant fees that eat into your hard-earned cash. Today, a range of apps can empower you to send money across borders quickly, securely, and affordably, letting you focus on what matters—whether it’s helping family, paying for global expenses, or managing business needs.

What to look for in an international money transfer app.

Fees and exchange rates

Picture this: you’re about to send tuition money overseas, and every dollar counts. The cost of your transfer hinges on both the transfer fee and the exchange rate offered. While some apps might lure you in with low fees, they may compensate with less favorable rates. That’s why choosing an app with transparent pricing and competitive rates is essential. Xe, for instance, clearly displays the final send rate, giving you confidence that more of your money goes where it’s needed.

Flexible transfer methods

Flexibility can mean the difference between meeting a deadline or stressing over delays. For instance, maybe you’re making a payment to an international contractor and need the funds delivered today. If you’re set up with the best apps, you’ll have a variety of transfer methods at your disposal, ensuring your money reaches its destination when you need it to.

How you decide to send money will directly affect the transfer speed and cost, so having a basic understanding of some of the options available can save you money and provide peace of mind.

Common transfer options include:

• Direct debit: For non-urgent transfers a direct debit is often sufficient and is usually a very cost effective way to transfer funds. With Xe, direct deposit international transfers tend to arrive between 1-3 business days.
  

• Wire transfer: Financial institutions have been utilizing wire transfers since the 1850’s and they remain a commonly used transfer method, especially in business and investing. Their high send limits make them well suited for sending large amounts of money directly from one bank account to another. Their ability to clear within 1-2 business days makes them a reliable option for meeting larger financial obligations on time.
  

• Debit/Credit card: Sending money via debit or credit card is usually instant, or may take just a few minutes. While this is oftentimes the fastest way to send money, it may be associated with a slightly larger fee. Send limitations also often cap out at a relatively small sum.

Global coverage

Having extensive global coverage is vital for seamless international money transfers, especially if you regularly send funds to various countries. An app that supports multiple currencies and regions reduces complications like unexpected fees or transfer failures, ensuring your money reaches its destination quickly and reliably.

Security

Protecting your financial information is crucial when sending money internationally. Your peace of mind is priceless, so look for apps that prioritize robust security features, like bank-level encryption and multi-factor authentication. By choosing a secure app, you can transfer money with confidence knowing your hard-earned money is safe throughout its journey.

Ease of use

A well-designed app can significantly enhance your money transfer experience, especially for frequent transactions. Features like saved recipients, transfer tracking, and currency alerts help streamline the process and can even save you money, allowing you to send funds quickly and efficiently. A user-friendly app helps you manage your finances with ease, making international transfers less stressful and more convenient.

Top international money transfer apps

XE currency converter and money transfer app

Xe combines competitive rates, a vast global reach, and user-friendly features to stand out as a premier money transfer service. Supporting over 130 currencies and facilitating transfers to more than 200 countries, Xe offers unmatched flexibility for international transactions. The app features real-time exchange rate alerts, enabling you to schedule transfers at the most advantageous times. Additionally, Xe’s mobile wallet allows for instant transfers to mobile phones in over 35 countries, while cash can be sent directly to any of the 500,000+ cash pickup locations in more than 150 countries. With over 30 years of experience, Xe ensures reliability through robust security measures and provides 24/7 customer support, reinforcing its reputation as a top choice in the industry.

Wise (formerly TransferWise)

Wise has gained popularity for its transparent pricing model and mid-market exchange rates. It's a solid option for cost-conscious users, though its global reach isn't quite as extensive as Xe's. Wise also offers a multi-currency account, allowing users to hold and manage multiple currencies in one place, which can be beneficial for frequent international travelers or businesses dealing with multiple currencies.

PayPal

A household name in digital payments, PayPal offers convenience for peer-to-peer transfers. However, its fees for international transfers can be on the higher side compared to specialized forex providers. PayPal's widespread acceptance and integration with many e-commerce platforms make it a versatile option, but users should be aware of potential currency conversion fees and higher rates for cross-border transactions.

Ria Money Transfer

Ria Money Transfer is known for its extensive network and convenience in sending money across borders. The app supports transfers to more than 190 countries, allowing users to choose between bank deposits, cash pickup, and mobile wallet transfers. Ria stands out for its competitive transfer fees and transparent exchange rates, making it an appealing option for those who prioritize cost-effective remittances. With robust security protocols and a user-friendly interface, Ria provides a reliable and straightforward solution for international money transfers.

Remitly

Remitly focuses on remittances to specific regions, offering competitive rates and fast transfers for these corridors. It's an option if your transfer needs align with their supported routes. Like Xe and Ria, Remitly provides additional services including cash pickup and home delivery in some countries, which can be particularly useful for sending money to regions with limited banking infrastructure.

Money transfer app snapshot

Selecting the right app for you

When choosing the best international money transfer app, consider your specific needs regarding transfer frequency, amounts, and destination countries. For frequent transfers, Xe offers excellent value with competitive rates and low fees. Ria is a strong option for remittances, particularly to developing countries, as it provides fast transfers and cash pickup options for recipients without easy access to banking services. PayPal can be convenient for users already integrated into its ecosystem, but its higher fees for international transfers may be a drawback.

For those handling large sums, Xe shines with its ability to support a wide range of transfer amounts, making it suitable for both personal and business use. Additionally, if you're sending money to less common destinations, Xe's extensive global network ensures your funds reach their intended recipients without hassle.

Discover how easy international transfers can be by exploring different apps to find the one that works best for you, or join millions of users worldwide who rely on Xe for secure and cost-effective global transactions. Download the app and see how it can simplify your transfers today.

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