Common questions
Everything you need to know about international money transfers, providers, fees, and exchange rates.
What's the cheapest way to send money internationally?
Wise typically offers the best overall value due to its mid-market exchange rate and transparent fee structure (~0.35%-2%). However, the cheapest provider depends on your corridor, amount, and payment method. For small amounts on certain corridors, Remitly Economy or WorldRemit may have promotional pricing. For large transfers ($1,000+), OFX waives transfer fees and offers competitive rates. Always compare live pricing across 2-3 providers before sending.
Which provider has the best exchange rate?
Wise uses the mid-market exchange rate (the rate you see on Google/XE.com) with no markup. Most other providers add a margin to the exchange rate — typically 1%–4% above mid-market. The exchange rate margin is often the largest hidden cost in international transfers. OFX and XE offer competitive rates for large amounts, while Western Union and Remitly Express include larger margins to fund faster delivery.
How long does an international money transfer take?
Transfer speed varies by provider, corridor, and payment method. Remitly Express and Western Union can deliver in minutes (especially for cash pickup). Wise delivers approximately 45% of transfers instantly, with most arriving within 24 hours. OFX and XE typically take 1–2 business days. Bank-to-bank transfers on weekends or holidays may take longer.
Are these money transfer services safe?
Yes. All six providers on this site are regulated by major financial authorities: FCA (UK), FinCEN (US), ASIC (Australia), MAS (Singapore), and/or equivalent regulators in their operating jurisdictions. They use bank-level encryption, identity verification, and anti-fraud measures.
How do I avoid hidden fees?
Always check the exchange rate margin — not just the upfront fee. Google the mid-market rate first and compare it against the rate each provider offers. Avoid credit card funding (often treated as cash advances with extra fees). Time your transfer for weekdays when currency markets are open. Use bank transfer or debit card for lower costs.
Which provider is best for large transfers?
OFX and XE are both strong choices for transfers of $1,000 or more. OFX has no transfer fees and a $1,000 minimum, with 24/7 phone support. XE offers competitive rates for 60+ currencies with rate alerts. Both offer forward contracts and limit orders for large amounts.
Which provider is best for cash pickup?
Western Union has the largest agent network with 500,000+ locations worldwide, making it the best for cash pickup. WorldRemit and Remitly also offer cash pickup in many corridors. Bank-to-bank transfers through Wise are generally cheaper but don't support cash pickup.
How do exchange rate margins work?
When a provider shows you an exchange rate, it's usually the mid-market rate plus a markup. For example, if the mid-market USD/INR rate is 83.50, a provider with a 2% margin might show you 81.83. On a $1,000 transfer, that 2% margin costs you $20 — hidden in the rate. Wise is the only major provider that uses the mid-market rate without markup.
Important: This FAQ is for informational purposes only and does not constitute financial advice. Exchange rates, fees, and transfer speeds are based on publicly available information and may change. Always verify current pricing directly on each provider's official website before initiating a transfer. We may earn affiliate commissions from some providers when you use our links — this does not affect our comparison methodology.