Free International Money Transfer [2024]
Some international transfers can come with surprisingly high costs which are well worth avoiding if you can. Whether you need to send a payment to a friend, pay an international bill, or cover the costs of travel, getting low or no fee international money transfers can represent a big saving.
It’s not always possible to completely avoid the costs involved with sending money overseas – but with a few tips and tricks you may be able to benefit from promotions, discounts, and other offers, to pick the best provider for your specific needs. Read on for all you need to know.
Can you send money internationally for free?
There are costs involved in processing international transfers, so you’ll usually find there are fees to pay somewhere along the line when you send money abroad. However, some providers have offers, discounts and options you can take advantage of, to get a better deal on your transaction.
What you do to cut or avoid the costs of international transfer can vary by provider. For example,
- Remitly has promotional offers for new customers, which can mean low or no fees on your first transfer, or a better exchange rate.
- Revolut has limited no fee transfers for some business accounts, discounts the costs of transfers for some personal account tiers, and also offers unlimited no fee currency conversion on weekdays for some accounts.
- Wise has a promo code which provides a free transfer for new customers.
We’ll walk through these providers and more as we move through this guide.
Quick summary: Fee free international money transfer services
Here’s an overview of the providers we’ll cover in this article, and why we picked them:
| Provider | Fee-free transfer offers | Go to provider |
|---|---|---|
| Remitly | New customers may qualify for a promotional fee or exchange rate, and some payment methods may also come with no upfront transfer fee to pay | |
| Xe | Offers can vary but depending on how you pay you can find that there’s no send fee to worry about (exchange rate markups can still apply) | |
| Wise | Wise promo code can allow you to send for free when you sign up, once this promotion is exhausted you can still get mid-market exchange and low, transparent fees | |
| OFX | No OFX fee to pay for sending money overseas – third party charges and exchange costs can still apply | |
| Revolut | Currency exchange and transfer fees vary depending on your account type – some account holders qualify for unlimited no fee currency exchange, and deep discounts on transfer charges. |
As we’ve mentioned, it’s not usually as simple as getting a fee free international money transfer, as there are usually some costs to be considered somewhere down the line. However, picking a provider with promotions, great exchange rates, or discounts for some account holders can certainly help.
Best free free international money transfer apps
We’ll cover each of the top free international money transfer apps we’ve selected in more detail in a moment, but first, let’s get an overview of what you can do with each option we’ve picked out.
| Service/Providers | Remitly | Xe | Wise | OFX | Revolut |
|---|---|---|---|---|---|
| Fee-free transfer offer | New customer offer – discounts on fees or a better exchange rate | Some payment methods may have no transfer charge, plus new customer promotions may be available | New customer promotions available which offer free transfers to a set limit | No transfer fee is applied when you send money overseas | Some business accounts get no fee transfers
Personal customers may get discounts on transfer fees, and some no-fee weekday currency conversion |
| Coverage | 170+ countries | 130+ countries | 160+ countries | 170+ countries | 140+ countries |
| Exchange rates | Exchange rates may include a markup | Exchange rates may include a markup | Mid-market rate | Exchange rates include a markup | Mid-market rate weekday exchange to plan limit, fair usage and out of hours fees may apply |
| Transfer speed | Variable depending on payment method and destination | Variable depending on payment method and destination | Fast or instant | 1 – 2 days for major currencies, up to 5 for more exotic currencies | Variable – you see an estimate before confirming the payment |
| Business transfers | Not available | Available | Available | Available | Available |
| Other notable features | Transfers can be sent for varied delivery methods | Huge amounts of exchange rate data available | Multi-currency account and debit card available | Currency risk management products available | Multi-currency account and debit card available |
It’s worth highlighting that some providers which don’t always charge a transfer fee – such as Remitly, XE and OFX – may use an exchange rate markup as an alternative to a stated sending fee. This is a pretty common practice, but it can make it harder to see what you’re paying for your transfer.
If you’re quoted an exchange rate which includes a markup, that means that there’s a fee added to the rate being used to convert your currency in the first place. This can end up being pretty costly – particularly for high value payments. Remember to compare both the fees and the rates you see with different providers to see which is really the cheapest.
Remitly – Free transfers
💡 Fee-free transfer offer: New customer offer which can mean low or no transfer fees and a smaller exchange rate markup on your first payment
Remitly really stands out as a provider which has a great range of pay out options which can help anyone remitting money home to loved ones. You can send money to a bank account but also to a mobile money account, debit card, or for cash collection or delivery. This makes it easier to reach people who may not be able to easily get to a bank or ATM.
- Great global reach of 170+ countries, with varied pay out options
- New customer discounts bring down the costs of your first payments
- No business transfer services – this service is for friends, family and people you trust only
| Remitly pros | Remitly cons |
|---|---|
| ✅ Great selection of pay out methods ✅ Set up your transfer online or in app ✅ Send to 170+ countries ✅ New customer discounts on first payment | ❌ Exchange rates can include a markup ❌ Fees apply for standard transfers which vary depending on the specific payment |
Check out their offers available from Remitly to see if they suit your specific needs:
Xe – Free transfers
💡 Fee-free transfer offer: some payment methods and routes have no Xe fee, which you’ll be shown when you set up your transfer
Xe Money Transfer offers transfers, usually to bank accounts, with a good selection of different ways to pay. Depending on where you’re sending money to you might find that some transfer options don’t have any upfront fee. You’ll be able to start to set up your payment online or in the Xe app to see the different options available and their associated costs, to help you pick.
- Different payment methods have their own fees – in some cases the fee is waived
- Personal and business transfers available to 130+ countries
- Xe exchange rates are likely to include a markup
| Xe pros | Xe cons |
|---|---|
| ✅ Different transfers have their own fees – which can be 0 USD ✅ Easy to use online and in app ✅ Send to 130+ countries ✅ Large and trusted organization | ❌ Exchange rates are likely to have a markup ❌ Variable fees apply, so costs depend on your specific transfer |
Why not take a look at how Xe money transfer would work for your payment?
Wise – A free transfer with promo code
💡 Fee-free transfer offer: Use the Wise Exiap offer to send up to the equivalent of 2,000 GBP for free
Wise transfers use the mid-market rate with low, transparent fees – and if you use the Exiap discount code you can also benefit from a new customer offer that waives charges for a payment to the value of 2,000 GBP. Use Wise to send fast or instant transfers around the world for deposits to personal and business bank accounts. You can also get a Wise account to hold, send, spend and exchange dozens of currencies with just your phone.
- New customer offer for a free transfer up to 2,000 GBP in value
- Send to 160+ countries with fast or instant delivery times
- Mid-market exchange rate with no hidden fees or markups used
| Wise pros | Wise cons |
|---|---|
| ✅ New customer/Exiap offer available for a transfer up to 2,000 GBP in value ✅ Mid-market exchange rates ✅ Fast or instant delivery to bank accounts in 160+ countries ✅ Extras like a multi-currency account and card also available | ❌ Transfer fees can apply which vary depending on payment details ❌ No cash collection or delivery options |
Check out Wise today to see if you can save:
Learn more on How to use the Wise promo code.
If you’d like to learn more about Wise, we have comprehensive reviews: Wise review and Wise money transfer review
OFX – Free transfers
💡 Fee-free transfer offer: OFX does not charge a transfer fee on any overseas payments – instead there’s a small markup on the exchange rate which can be lower than a bank might use
OFX is known for great customer service and offers international transfers to 170+ countries, online, in app and by phone, 24/7. There’s no OFX fee when you send money overseas from the US, but there’s a small markup added to the exchange rate used for your currency conversion instead. This can still represent a saving compared to using a bank.
- Send money to 170+ countries with delivery times of 1 – 2 days for most currencies
- No transfer fee for personal or business payments from the US
- Other services like currency risk management products also available
| OFX pros | OFX cons |
|---|---|
| ✅ No transfer fee to pay ✅ Send to 170+ countries from the US ✅ Personal and business services offered ✅ Highly regarded, with good customer service | ❌ Exchange rates include a markup ❌ Some currencies may take 5 days to arrive in your recipient’s account |
See how OFX personal and business transfers with no upfront fee compare.
Revolut – Discount transfers and no fee exchange
💡 Revolut transfer offer: All personal accounts get some weekday no fee currency conversion, and Metal plan holders can get a 40% discount on any international transfer they send. Business customers may get no-fee transfers
Revolut offers several different account types in the US for personal customers, and different packages for businesses. Business customers might get a set amount of no fee transfers included in the monthly fee they pay, while personal customers all get some no-fee currency conversion. Some personal account holders also qualify for discounts of up to 40% on transfer costs.
- Different account types to choose from – including some business accounts with no transfer fee
- All accounts benefit from some no fee currency conversion on a weekday
- Send to 140+ countries with your phone
| Revolut pros | Revolut cons |
|---|---|
| ✅ Business customers might get no fee transfers ✅ Personal customers can get some no fee exchange, and may get discounts on transfer costs ✅ Various different account packages to pick from ✅ Multi-currency holding options, as well as lots of other handy features | ❌ Fees can apply depending on the account type you have ❌ Delivery times vary |
Compare the costs of your international money transfer with Revolut, today.
How can I transfer money to another country for free?
You’ll have a few choices here – you can either pick a provider which never has transfer fees – like OFX, choose one which has variable fees depending on the payment method, or look out for promo codes and offers to get a great deal.
Bear in mind that a provider which waives the transfer fee every time may still charge other fees – most likely in the exchange rate used to convert your dollars to the currency you need for deposit. Compare the fee and the exchange rate you’re offered against a few other providers to see which is actually cheapest overall.
Sending a payment with a provider like OFX can be fairly straightforward. Usually you’ll need to:
- Download the OFX app or head to the desktop site
- Enter your personal and contact details and wait for a call back from a member of the team
- Complete a verification step and set up your first payment online or on the phone
Your other option is to look out for a provider with a good offer or promotion. One worth considering is the Wise – Exiap promo link which allows you to get your first transfer up to 2,000 GBP for free. As Wise also uses the mid-market exchange rate with no markup added, this is really good value.
- To use the Wise discount, click the Wise promo code link
- Create a Wise account by adding your personal and contact details
- Set up your transfer – the discount is automatically applied and you’ll see it in the fee section of the quote that’s generated
With Wise, you can send up a transfer up to the equivalent of 2,000 GBP in value for free with the Exiap promo. If you send a higher value payment, the first 2,000 GBP has the fee waived, and Wise’s usual low fees apply to any excess.
Learn more on How to use the Wise promo code.
Cheapest way to transfer money internationally
The cheapest way to transfer money internationally will vary based on factors like the country you’re sending money to, the amount, how you pay, and the provider you’ve picked.
Some companies in this guide offer fee-free transfers, but they do add a markup to their exchange rate. This is important because if the markup is high, you could still end up paying more than you expect for your international money transfer.
To find the best transfer provider for your specific needs, check out our comparison pages here on Exiap.
All you have to do is enter the amount you want to send and the country you’re sending to. Click ‘Find the cheapest deal’, and the table will show results from select providers to allow you to check and compare. The comparison generator picks out one ‘best deal’ which should mean your recipient gets the most, based on the transfer information you’ve entered. You can also see a breakdown of fees and exchange rates for different services, as well as estimated transfer speed.
3 Other apps that offer fee free transfers
Of course, this guide can’t cover all the options for free transfers overseas from the US. With ever changing promotions and offers, you’ll want to shop around to see which provider has the best deal at the time you want to make a payment. Another few options to take a look at include:
- Western Union: Frequently changing new customer offers may include no fee transfers or discounts on the exchange rates available. Send to more or less any country in the world, for bank deposit or cash collection via an agent
- TorFX: There’s no TorFX fee when you send a payment abroad for deposit to a bank account, although exchange rate markups do apply. TorFX has an excellent reputation for customer service and supports dozens of currencies for sending overseas
- MoneyGram: Once you’ve made one MoneyGram transfer you can sign up and get loyalty bonuses which can mean discounts on the fees for your next transfer. MoneyGram has a large agent network which allows you to send and receive money in person as well as online
Conclusion: Is international money transfer free?
International money transfers usually involve a fee somewhere – but with some smart shopping around you can often find providers with offers and discounts which can mean you’re able to send money free or close to free. Check out the providers we’ve detailed here, looking at the promotional offers, fees and exchange rates, to see which works best for your specific transfer.
Here’s a quick reminder:
Remitly – check out options for new customer promotional fees and exchange rates
Xe – see if your preferred send method is available for free
OFX – no OFX fee to pay for sending money overseas
Wise – use the Wise promo code link to send up to 2,000 GBP or the currency equivalent for free
Revolut – business customers may get some no-fee transfers, personal customers can qualify for discounted fees
If you’d like to get more information about money transfers, these guides can help:
- How long does it take to send money internationally?
- Best bank to transfer money internationally
- How to make an international wire transfer
- Best ways to receive money internationally
- Alternatives to PayPal for international transfers
