Traditional ways of transferring money are being replaced by new fintech companies bursting with online-only services that deliver straight to local bank accounts around the world. But with so many choices and new features, it is important to do your research and find the international money transfer app that is right for you.
Money transfer apps, also called peer-to-peer (P2P) apps, let you transfer cash from one person to another quickly and securely. They simplify payments and also allow you to use a digital wallet to link your credit card or bank account. You can make electronic transactions and payments with just a few taps on a mobile device.
The best money transfer apps collect high app store ratings, help app shoppers shell out money safely, and involve no hidden fees. They also fit consumer-specific needs, such as international payments, social options, virtual wallet offerings, and more.
Some apps are only available to residents of certain countries, while others will get your money there faster but at a cost. Some will let you drop off or receive in cash if that is what you need. And a few may have the speed, cost, and convenience you need all in one. To make things easier for you, we have tried to pick out some international money transfer apps which we think are best suited for your international money transfer needs.
10 Best International Money Transfer Apps for iOS and Android
1. Wise
Based in the UK, TransferWise is a peer-to-peer money transfer service, which is currently available in 59 countries with plans to take that figure much higher over the next few years. The business offers straightforward money transfer options, but also has a multi-currency account option. This lets you hold over 50 currencies at the same time, converting them as and when it suits you.
TransferWise uses the real, mid-market exchange rate for every transaction and it has one transparent, low-cost fee. Indeed, its fees page lets you see how a percentage of the charge is a fixed fee, which is followed by a variable fee. The two are subsequently added together in order to give you a total fee chargeable for each transaction you make.
There are no maximum or minimums for a transfer and users can also select the type of transfer they require too, which means that if you’re in a hurry you’ll pay more to move money than selecting the low-cost slower transfer option. There’s a middle-tier option too, so all bases are covered it seems.
With over 5 million users, Wise is one of the most popular apps to transfer money in various currencies. It has an award-winning app that can let you send money on the go to friends, family, or merchants.
TransferWise does also offers Business pricing, which adds in extra features that are free, including the ability to receive money in EUR, USD, GBP, PLN, AUD, and NZD currencies without charge. However, this comes with a 0.33%-3.56% fee to convert currencies. The supporting TransferWise debit Mastercard comes free too, with the same currency conversion fee of 0.33%-3.56% plus a 2% fee of ATM withdrawals over £200 per month.
Much like others in this marketplace, the TransferWise website has a dynamic calculator so you can work out your fees in advance of moving or receiving any cash.
Move your money about with TransferWise
Pros
Solid mid-market rates
No maximum or minimums for a transfer
Great apps for iOS and Android
Click here to see how it works
Cons
Customer service number not immediately obvious
2. PayPal
One of the leaders in starting online global e-wallets, PayPal lets you send money instantly if your friends or family have an account too. The app’s robust offerings, mixed with speed and convenience, put it squarely in the winner’s circle. PayPal’s brand name awareness elevates it to the best overall category.
PayPal’s wallet can let you request money, collect and make purchases online. A PayPal account is required to send and receive money and funds can’t be sent directly to a bank account
Whether you are sending or receiving funds, you would require an account with PayPal. Plus, there are transfer fees, like the currency fixed fee for sending money, a funding fee, and a transaction fee. PayPal’s wallet system can seem like a long and expensive process when trying to send money quickly. But it can be a secure option, although one with fees if you and your recipient have PayPal account already set up.
PayPal offers versions of its app for iOS, Android, and Windows. It takes just minutes to download and start transferring money from up to 20 people at once. For added security, you can agree to show your name, photo, username, email, and mobile phone number on PayPal so people know it’s you.
PayPal’s Money Pools offer an easy way for groups of people to chip in on a group collection. Share a PayPal.Me link for a quick and secure payment option. PayPal’s invoice creation feature also allows you to customize and track every invoice you send.
You can send up to $60,000, but PayPal may limit the transaction to $10,000, depending on the currency you use.
If you accidentally send money to the wrong person, you can tap the contact’s name and ask for a refund. If the individual doesn’t respond, you can tap the blue pencil icon, select “disputes,” and communicate with PayPal.
You can tap into your PayPal balance to keep money in your account with the PayPal Cash Card, a debit card with a daily spending limit of $3,000, and a daily cash ATM withdrawal limit of $400 with a limit of 30 transactions per day.
Users pay 2.50% plus a fixed fee to send money via a credit card. PayPal charges $2.50 to send international personal transactions using a PayPal balance, bank account, or through an Amex Send account.
PayPal keeps your information secure using sophisticated encryption. The company monitors transactions 24/7 and offers dispute resolution if you have a problem with a transaction. You can also add in the PayPal Security Key, which sends you a temporary security code through SMS when you log in.
PayPal limits transfer to U.S. banks only and can connect with most U.S. banks and credit unions. Unfortunately, some banks, including online-only or prepaid bank accounts, can’t give you access to PayPal.
Pros
Name/brand recognition cultivates instant trust
Easy to install and use
Loose limit on transactions
Fast and secure
Cons
High transaction fees
May hold money
Difficult customer service
3. WorldRemit
WorldRemit is a fast and secure way to transfer money using a service that is based solely online and is well-reviewed on Apple’s AppStore and Google Play.
With WorldRemit you can transfer money directly to a business or individual bank account or add mobile credit to prepaid phones. The sender is charged a transfer fee that you see upfront, as well as a WorldRemit set exchange rate. Make sure to check the amount you might be losing against the exchange rate you see on Reuters or Google to know what the transfer is really costing you.
The WorldRemit app has been one of the best transfer apps which have low fees, best upfront exchange rates, and no hidden costs, as well as its flexibility to send to over 150 countries and you can receive money by either bank transfer or mobile top-up.
WorldRemit can send money to recipients within 10 minutes. Most transfers complete within 24 hours wherever recipients live in the world. When you introduce a friend to WorldRemit, you both get a voucher to use on your next transfer. Also, first-time customers can use the promo code 3Free to make their first three transfers with no fees.
While its rates might be seen as competitive what you pay depends on where you’re going to be sending the funds. Costs will vary depending on the type of transfer method and also the currency. There is plenty of scope for transfers though, with WorldRemit offering the ability to send cash from over 50 countries to in excess of 150. Easing the transfer process is the way WorldRemit has partnered with the likes of M-Pesa, EcoCash, MTN, Metrobank and other localised finance operations.
The app gives you various ways to send money—through cash pickup, bank transfer, mobile money, and airtime top-up, and that’s why it landed in our top category.
WorldRemit accepts most types of debit, credit, along with bank transfer, and prepaid cards issued by Visa or Mastercard. WorldRemit also accepts payment from Klarna, Interac, Trustly, iDEAL, POLi, Apple Pay, and more. It no longer accepts Google Pay.
To transfer money, download the World Remit app from the App Store and Google Play. Select the country and amount you want to send, enter recipient details and bank information. Once you pay for the transaction, your recipient will find out by SMS and email when they can access their money.
WorldRemit, approved by the Financial Conduct Authority (FCA), puts a high priority on security by implementing strict verification procedures. The company employs teams to monitor accounts for unusual activity.
WorldRemit’s large network of local partners works with worldwide banks and financial institutions. You can send a maximum of $9,000 in 24 hours and $5,000 per transaction for debit, credit, or prepaid cards. You can submit a maximum of $9,000 in Apple Pay payments within 24 hours and send a maximum of $300 per transaction. WorldRemit lists all fees and exchange rates before you execute each transaction.
WorldRemit also offers a wallet for use in a limited number of countries but any WorldRemit customer can send money to a WorldRemit Wallet.
If you accidentally send money to the wrong person, WorldRemit can sometimes recall the mobile money or bank transfer transaction. In this situation, you want to contact WorldRemit as soon as possible.
Pros
Fast and secure
Quick deposit options worldwide
Easy to use
Cons
Can sent to a limited number of countries
Complex transfer fees
Limits on large transfers to a certain destination
4. Venmo
Venmo is popular with both individual users and businesses thanks to its money transfer app, which benefits from having the muscle of parent company PayPal behind it. Most appealing to consumers is its social edge, with Venmo having the option of being able to share updates about purchases to other users in your social group.
Venmo offers the best of both worlds—it offers a quick and easy way to send and receive money and offers a potential “parking place” for your cash. You can spend, send, or transfer Venmo money to your bank account.
Venmo acts much like a digital wallet and allows quick and easy peer-to-peer transfers, which is undeniably useful if you need to send some money to friends. Sharing the cost of a meal maybe? Venmo is perfect for making sure everyone pays their dues. You can even make the experience more interactive by adding emojis or animated stickers with your transactions.
PayPal’s Venmo allows quick and easy money exchange between individuals. You can send or receive money for free through the peer-to-peer payment app, though Venmo charges 3% of the transfer total to send money via credit card.
Venmo also charges a 1% fee ($10 maximum) for instant cash-out transfers to your bank account. You can keep money in Venmo or your bank account.
Everyday money management is similarly straightforward, with a range of settings allowing you to use it as needed, with Public, Friends and Private options proving handy for different payment situations. Venmo also boasts the option of making payments using QR codes, which is perfect for fast, efficient and accurate transfers that are sure to go to the right recipient.
You can send money using your iPhone- or Android-based smartphone by choosing a sign-up method and creating a secure password between eight and 32 characters long. Venmo asks you to verify your phone number, email address, and bank account.
The standard bank transfer through the ACH network to a verified checking account typically takes one to three business days to arrive. You can also choose an instant transfer to a bank account or debit card (incurs a 1% fee) which arrives within 30 minutes. Venmo should work with all U.S.-based banks.
Venmo uses encryption to keep information secure. You can add additional layers of security to your Venmo account by adding multi-factor authentication and a PIN. Note: The Consumer Financial Protection Bureau raised red flags about Venmo’s “debt-collection practices” through a Civil Investigative Demand in February 2021.
Venmo imposes a $299.99 spending limit, but users can submit information about their identity to increase the weekly rolling limit to $4,999.99.
If you accidentally send money to the wrong person, you can request a return for the money you sent by mistake. If you don’t hear back or need help sending a charge request, you can contact Venmo’s support team. Venmo offers no recovery guarantees.
Pros
Provides a social way to split money
Money moves instantly
No need to add money to Venmo to make payments
Quick and easy money exchange between individuals
Cons
Past security concerns
Fee for instant cash-out transfers to your bank account
5. Western Union
Western Union has one of the highest profiles of all the money transfer operations, with a long history to back it up. As a result, there are plenty of options open to you especially now that this global service can be used via your mobile device.
Choose from pricing options using the Western Union Price Estimator tool and select a transfer method from either online, in-store or mobile. Fees are dependent on where you’re sending the money, and also the currency, which follows a similar theme to others in this sector.
While cash pickup is an often-used feature of Western Union for many, there is also a mobile wallet option that has grown in popularity. But it’s really the Western Union app that has really revolutionized the service, simply because it’s so handy.
There’s the ability to have a one-touch fingerprint login, options for setting up instant access to contacts you send money to regularly, and, usefully, the ability to dynamically track all of your transfers. Simply enter your tracking number to see when it’s been processed, collected, and completed. The option of paying directly from your bank account, via card or in cash adds to the convenience factor, as does integration with Apple Pay.
Pros
Extensive network coverage
Faster money pick up
Cons
It is expensive
Fee and exchange rate can vary significantly
6. MoneyGram
MoneyGram is another instantly recognisable name in the money transfer sector and is one of the longest-running operations too. Due to its scale and the size of the operation, it’s therefore possible to send funds to pretty much anywhere, although charges are therefore dependent on where cash is headed.
MoneyGram is well known in the money transfer business especially for their cash pick up, but if you are paying by credit or debit card, their fees can be pricey.
MoneyGram is the second-largest money transfer provider in the world
Your recipient can pick up cash at an agent location, or get the money deposited directly into their bank account
Different transaction fees depend on how much you are sending, and your payment method. Moving money via the bank option is generally the cheaper way to do it, compared to using a credit or debit card. Similarly, making money available in a bank account at the destination, rather than having someone pick up physical cash is another way to save costs.
MoneyGram provides online and offline money transfers and is found to be fairly quick compared to other service providers. Depending on how the recipient wants to receive the money, it is ready anywhere from 3 hours to 3-4 days if paid by bank account.
Overheads also include exchange rate fluctuations, although on the upside MoneyGram does have a rewards system that gives you a percentage off transactions you make in the future. The other bonus with MoneyGram is its sheer volume of outlets around the world, which is frequently the appeal for many recipients of cash transfers.
However, MoneyGram has also moved with the times and offers an array of transfer options, with traditional bank accounts proving popular along with mobile wallets for many cell phone aficionados. Currently, it’s possible to make transfers to well over 200 countries, with the choice of around 50 different currencies.
Pros
Easy to use anywhere
Global network
Cons
Fees can be costly
Some negative reviews
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7. Zelle
For bank-to-bank transfers, Zelle is great because of its quick access and wide availability at most banks and credit unions. Users can head to a bank’s website or directly to the mobile app to register with just an email address or phone number.
No other app offers such an easy bank-to-bank process. Zelle can transfer money to other Zelle users through the easy-to-use app. Users can send or request money with an email address or phone number. Recipients must have a Zelle account to send or receive money. Zelle sends a text or email and a link to accept payment.
You can find the free app through the App Store or on Google Play. Enter the amount you want to send. The money goes directly into the recipient’s bank account, typically in minutes.
The Zelle app utilizes authentication and monitoring features for top security or uses your bank or credit union’s mobile app.
If your bank or credit union does not yet offer Zelle, you can only send $500. You cannot request to increase or decrease your send limit.
You should know and trust the people you send money to because you can’t cancel a payment through Zelle if the recipient already has a Zelle account. However, you can cancel a payment if the recipient hasn’t enrolled in Zelle. Go to your activity page on the Zelle app, choose the payment you want to cancel, and tap “cancel this payment.”
Pros
Widely used by many banks
You can still use it if your bank doesn’t offer Zelle
Swift movement of funds
Money is federally insured
Cons
Can’t connect a credit card to pay
Only works with domestic banks
8. MoneyGram
MoneyGram is another instantly recognisable name in the money transfer sector and is one of the longest-running operations too. Due to its scale and the size of the operation, it’s therefore possible to send funds to pretty much anywhere, although charges are therefore dependent on where cash is headed.
MoneyGram is well known in the money transfer business especially for their cash pick up, but if you are paying by credit or debit card, their fees can be pricey.
MoneyGram is the second-largest money transfer provider in the world
Your recipient can pick up cash at an agent location, or get the money deposited directly into their bank account
Different transaction fees depend on how much you are sending, and your payment method. Moving money via the bank option is generally the cheaper way to do it, compared to using a credit or debit card. Similarly, making money available in a bank account at the destination, rather than having someone pick up physical cash is another way to save costs.
MoneyGram provides online and offline money transfers and is found to be fairly quick compared to other service providers. Depending on how the recipient wants to receive the money, it is ready anywhere from 3 hours to 3-4 days if paid by bank account.
Overheads also include exchange rate fluctuations, although on the upside MoneyGram does have a rewards system that gives you a percentage off transactions you make in the future. The other bonus with MoneyGram is its sheer volume of outlets around the world, which is frequently the appeal for many recipients of cash transfers.
However, MoneyGram has also moved with the times and offers an array of transfer options, with traditional bank accounts proving popular along with mobile wallets for many cell phone aficionados. Currently, it’s possible to make transfers to well over 200 countries, with the choice of around 50 different currencies.
Pros
Easy to use anywhere
Global network
Cons
Fees can be pricey
Some negative reviews
9. InstaReM
InstaReM is a modern money transfer service that uses the real mid-market exchange rate for transactions. They then charge a percentage of your transfer amount as a fee, instead of a flat fee.
You can transfer money from Australia, Singapore, Hong Kong, Malaysia, Euro Zone Countries, UK, India, and the US with Zero-margin exchange rates
Like Wise, InstaReM provides transparent pricing on all of their transfers. So you get the real mid-market exchange rate and an upfront transfer fee on every transaction. And most transactions arrive within 1-2 days. You can transfer money to InstaReM through Electronic Funds Transfer (EFT) / Bank Transfers / Wire Transfers in all countries. You can also send money through POLI (in Australia), Debit Card (in EU), FPX (in Malaysia) and ACH Pull or Bank Transfer method (in the USA). InstaReM has differing minimums and maximums you can send depending on the originating country.
Pros
Low transfer fees between 0.25% and 1.00%
No extra margins to exchange rates & guaranteed best transfer amount
Complete transparency and absolutely no hidden charges
Cons
Account activation can take longer than promised
They don’t accept credit card
10. Azimo
Azimo’s crisp and clean operation offers quick and easy transfers, with instant or one-hour options available to a wealth of different countries. There’s also the benefit of 24/7 delivery to selected countries, without any of the usual delays incurred at weekends. First-time users also get the benefit of two transfers free-free.
Azimo has been around less than a decade, but its online service now covers over 200 countries. There are around 80 different currencies on offer from the service, and customers can choose from a variety of methods to transfer funds. These include bank deposits and mobile wallets, or even cash, although the coronavirus pandemic has lessened the desire for transfers using physical cash.
Another recent development for Azimo has been the addition of its Azimo Business feature, which is aimed at small and medium-sized businesses that can benefit from transfers that are often more competitive than their bank.
Currently, Azimo claims that it can offer savings of up to 90% compared to rivals. It’s easy to stay on top of changes to currency values and get a constant update on best rates using the alerts within the Azimo app. As is usual, overall fees are largely dependent on where money is being sent from, and its destination along with the preferred delivery method.
Pros
Fast updates on transfers
Over 200,000 pick-up points worldwide
Cons
No phone number for support
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What to consider when choosing an international money transfer app
All the different features and ways to send and receive money can feel dizzying after a while. That is why we have broken down the major components to look at when choosing the right app for you. The how and why you send money will be different per your transaction need, so try to identify the factors that are a priority for you. It could be the speed of transfers, cost, convenience, location or customer support.
The total cost of a transfer
Ever felt like you were sending one amount to India, but the recipient got something way less? That’s the cost of hidden fees. These fees are snuck into transfers mainly through the exchange rate, but also depends on which card you use or how you withdraw the money. So make sure you either read the fine print of your money transfer provider or find a money transfer service that shows all their fees upfront. It can save you from any unwanted surprises.
Transfer speed
How fast or slow you need to send the money can often determine which one you choose and what your eventual fees will be. And especially for those away from home, speed to transfer money becomes even more crucial in times of emergencies. Some of the older systems of money transfers can take days to land in your recipient’s accounts. But newer companies, like Wise or TransferGo, use local accounts and sophisticated systems to make transfers faster.
Geographic location
Unfortunately, not all apps are available everywhere. Many attractive money transfer services are limited by the regions and countries. So while doing research on which one to go with, always make sure that you find the ones that are appropriate for your residence.
Convenience
Sometimes, in the search for a good rate and low cost, convenience can be put on the back burner. But the whole point of doing a transfer online is for it to be easy, isn’t it? So make sure you use a service that is easy to use, has a seamless interface, and allows you to transfer money easily. Check the app reviews on the app store too to make sure the app doesn’t have any bugs and current users like how it works.
Customer support
Last, but definitely not least is customer support. Strong customer support can make all the difference when you are having trouble with a payment or can’t track a transaction. If you feel more comfortable talking to someone over the phone, make sure you choose a provider that provides a real person on the phone at convenient times. Or if you are more likely to shoot an email, ensure your provider has easy to reach email addresses or service request forms online.
Final Verdict
Your final decision on the best money transfer app depends on your goals and preferences.
Money transfer apps allow you to transfer money quickly and easily. Some apps hold your money and others transfer it from one bank to another. Some money transfer apps specifically cater to consumer-specific needs.
Generally, money transfer apps offer robust security features to protect your money. However, it’s important to understand that if you send money to the wrong recipient, you may not get your funds back. Providers might not help recover misdirected funds. Only send money to people you know and trust.
The length of time it takes to transfer money varies. Some transfers occur immediately and others can take up to a few days. Keep your needs and timeframe in mind so you choose the best mobile money app for you.
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