The 5 Best Apps to Transfer Money Internationally This Year

Send money with one of the best money transfer apps

You want to send currency overseas, and you want to send it now. You’ve got a smartphone or table in your hand, and you’re searching for the best app to transfer money internationally. Don’t worry, we’ve got you covered. Here’s our breakdown of the top currency exchange apps, so you can choose the perfect one for your money transfer needs.

5 Best Money Transfer Apps

  1. TransferWise. Cheapest and fastest way to send money internationally for smaller amounts
  2. OFX. Best for transferring larger amounts and personalised support for your app transfers
  3. WorldRemit. Well-designed smartphone app for multiple types of transfers for smaller, instant payments
  4. PayPal. Widely accepted within business communities for payments, but not the cheapest
  5. Western Union. Largest money transfer provider with popular app, despite uncompetitive fees and exchange rates
TransferWise Money Transfer App allows you to send money to bank accounts

1. TransferWise money transfer smartphone app

This company is an online money transfer service that offers a cheap and fast way to send money internationally.

TransferWise are best for…

Sending amounts of less than $7,500, through a simple, clear, fast and secure money transfer service.

App exchange rates and fees

TransferWise offers exchange rates identical to the base rate, which is as good as or better than every other money transfer provider. Their fees are also extremely low, typically between 0.5 and 1 percent of the total transfer amount.

Transfer limitations

TransferWise does have limits on how much you can send, depending on the countries and currencies you’re exchanging between. These limits are normally very generous and will meet the needs of most users.

Customer Ratings

OFX Money Transfer App is great for international transfers

2. OFX money transfer smartphone app

This company is a specialist foreign exchange provider and offer personalised support for you to get the most out of your currency exchange.

OFX are best for…

Transfers of larger amounts, typically $7,500 USD equivalent or more.

App exchange rates and fees

OFX become a better value choice the more you’re sending. For smaller amounts, their exchange rates and fees do make them more expensive than other providers. If you’re sending larger amounts, their exchange rates become very competitive, and their fees remain low.

Transfer limitations

OFX has a minimum transfer limit of $1,000 USD or equivalent. For most currencies, OFX does not provide an upper limit on how much you can send. Currencies from some countries will have an upper limit applied.

Customer Ratings

WorldRemit has one of the best money transfer apps for friends and family

3. WorldRemit money transfer smartphone app

This service is an online money transfer company that focuses on remittances. They're especially good for instant transfers to regions such as Asia, Africa and South America.

WorldRemit are best for…

Making money transfers quickly and easily through their well-designed smartphone apps and website. They are good for lower-value transfers as they have no minimum amounts. Consider them for sending $5,000 USD or less.

App exchange rates and fees

WorldRemit has competitive exchange rates and fees, although they may not be quite as low as some other currency exchange providers.

Transfer limitations

Although WorldRemit doesn’t have a lower limit on transactions, you cannot typically send more than $5,000 USD or equivalent, and limitations may be smaller on certain currencies. Additionally, they do not provide support for business transactions.

Customer Ratings

  • On the Apple App Store, the WorldRemit app has over 77,000 ratings with an average score of 4.8 out of 5
  • On the Google Play Store, the WorldRemit app has over 76,000 ratings with an average score of 4.1 out of 5
PayPal Money Transfer App is great to send money transfers for business

4. PayPal money transfer smartphone app

Within the corporate world most companies are familiar with PayPal, its been established for a long time with strong security measures and an extensive network of countries you can send money.

PayPal are best for…

Money transfers for established business partners and contacts with PayPal accounts or sending less than $300 overseas.

App exchange rates and fees

Business sales within the US are charge 2.9% +$0.30 per transaction. International business sales are charged 4.4% + fixed fee + currency conversion. Sending money with the US is free if funded by your PayPal account or linked bank account to PayPal. Sending money funded by a debit card or credit card or PayPal Credit costs 2.9% + fixed fee based on the currency of the transaction.

Sending money overseas with a PayPal account or bank account linked to your PayPal account will cost 5% of the transaction with a minimum of $0.99 and maximum of $5.99 for the transaction fee. If it funded by a debit card or credit card you will pay an additional funding fee of 2.9% of the transaction (with no cap) and a fixed fee.

Transfer limitations

As the fees can quickly build up for sending money overseas, especially the funding fee, we advise using PayPal to send less than $300 overseas.

Customer Ratings

Western Union Money transfer app accepts debit cards and credit cards

5. Western Union money transfer smartphone app

This company is the largest money transfer provider in the world. They have over half a million agents around the world, although their fees and exchange rates are not very competitive.

Western Union are best for…

Unfortunately, the fees charged by Western Union are not easy to understand or calculate. They are among the more expensive money transfer providers, and their fees do vary dramatically based on the countries and currencies that you’re sending between.

App exchange rates and fees

Western Union does provide limits on how much you can send, depending on the services you want to use. Upper limits are typically between $500 and $2,500 USD, although these can vary depending on countries, currencies and services.

Transfer limitations

Western Union does have limits on how much you can send, depending on the countries and currencies you’re exchanging between. These limits are normally very generous and will meet the needs of most users.

Customer Ratings

  • On the Apple App Store, the Western Union app has over 150,000 ratings with an average score of 4.8 out of 5
  • On the Google Play Store, the Western Union app has over 179,000 ratings with an average score of 4.5 out of 5

What are the best international money transfer apps?

Our recommendation for the best money transfer smartphone apps, where your cash will go furthest are:

So, time to download these apps, try them out, and send money internationally while you’re on the go!

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General advice: The information on this site is of a general nature only. It does not take your individual needs or specific circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

By Arlene Mc Donnell Updated October 23rd, 2020