The best money transfer companies ranked by exchange rates

Breaking Down Fees & Exchange Rates

Fees & Exchange Rates is Monito's comparison engine has revealed Remitly, Wise and Global66 to be the lowest priced money transfer services based on data collected from hundreds of thousands of searches on Monito: Remitly is by far the leader. Wise comes in second while Global66 takes third.

Remitly was found to be most cost-effective and competitive on 15% of available Monito searches for bank transfers and 64% for cash pickups for all 12 months in 2022; whilst Wise found itself most cost-effective and competitive for 19% of available searches for bank transfers;
Global66 ranks first for bank transfer searches across 10 of 12 months of 2022 on Monito's search platform.

Worthy Mentions and Special Considerations

Money transfer services that offer competitively-priced transfers may vary significantly by region; thus services that specialize in specific corridors may not appear among our global results above.

SingX is often the lowest-priced and most competitive service for transfers from Singapore, Hong Kong and Australia; sometimes even more so than Wise or Remitly. When it comes to Switzerland transfers, specialist services b-sharpe and Wise often provide the most economical rates, while for transfers from UK to Poland transfers TransferGo often comes out ahead (although XE Money Transfer may offer similar favourable terms.)

WorldRemit should also be mentioned, as they were found to be the cheapest provider in 15% of available Monito searches for cash pickups but did not make the top three list.

To address this challenge and ensure you're finding the best offer for your specific transfer corridor, we recommend running a search on Monito's real-time comparison engine. Break It Down By Customer Satisfaction

At Monito, the top money transfer services ranked by customer satisfaction are Paysend, Wise and XE Money Transfer; all three services have consistently impressed their customers based on metrics including:

Paysend: 89% of 23 thousand customers who provided feedback via Trustpilot gave the service five out of five stars; Wise: Around 88% of 116 thousand customers gave feedback through Trustpilot rated Wise five stars out of five;
XE Money Transfer: of over 45,000 customers who provided reviews on Trustpilot, 95% gave five out of five star ratings to XE.

Worthy Mentions and Special Considerations

Many services on Monito are highly rated by customers, narrowly missing making it into the top three - examples being TransferGo (9.6/10), Azimo (9.6/10) and Remitly (9.5/10).

The best money transfer companies ranked by service quality

 Breaking It Down By Service Quality

Wise and TransferGo are again top performers when it comes to Service Quality Score, joined by Western Union as the top three services. For each of the three, their placement was determined by various factors:

Wise provides quick and seamless money transfers; whilst TransferGo makes money transfer straightforward and customer support is easily reachable; with Western Union boasting the widest range of payment methods.

Worthy Mentions and Specific Considerations

Paysend scored an 8.0/10 in this category, Remessa Online (7.7/10), CurrencyFair 7.5/10 and PayPal 7.8/10 all demonstrated strength as international money transfer services; though we wouldn't advise using PayPal due to its fees despite having an easy mobile transfer platform.
Breaking It Down By Fees and Exchange Rates

Remitly, Wise and Global66 stand out as being among the lowest-priced money transfer services when measured against hundreds of thousands of searches conducted through Monito's comparison engine: Remitly was selected first; Wise second; Global66 third.

Remitly is most cost-effective and competitive on 15% of available Monito searches for bank transfers and 64% for cash pickups in 2022; whilst Wise was most cost-effective and competitive for 19% of available bank transfer searches in that year.
Global66 ranks lowest and most cost-efficient among all Monito searches for bank transfers during all 12 months of 2022.

Worthy Mentions and Special Considerations

Money transfer services vary significantly by region, so exceptionally low-priced services that specialize in individual corridors may not appear among our global results above.

SingX is often the lowest-priced and most competitive transfer service for transfers between Singapore, Hong Kong and Australia - more so even than Wise or Remitly - while Switzerland often benefits from specialist services b-sharpe and Wise; in contrast, for UK to Poland transfers TransferGo is often best (though XE Money Transfer may also offer competitive pricing.)

WorldRemit deserves special mention as it was found to be the least expensive solution in 15% of available Monito searches for cash pickups; unfortunately it did not place in the top three.

To avoid this dilemma and ensure you find the best offer for your specific transfer corridor, we advise using Monito's real-time comparison engine to run a search. By filtering by Customer Satisfaction Rating.

Paysend, Wise and XE Money Transfer were recognized as the three top money transfer services on Monito in terms of customer satisfaction ratings; each exceeded customers' expectations on key metrics including:

Paysend: 89% of 23 thousand customers who provided feedback via Trustpilot gave it five out of five stars; Wise: Around 83% of 116 thousand customers gave feedback through Trustpilot gave Wise five stars;
XE Money Transfer: Out of 45 thousand customers who provided feedback on Trustpilot, over 95% gave five out of five stars rating XE as their money transfer service.

Worthy Mentions and Special Considerations

Monito services frequently receive high customer ratings; in particular, some such as TransferGo (9.6/10), Azimo (9.6/10) and Remitly (9.5/10) rank very highly with customers.

The best money transfer companies ranked by trust and credibility

 Trust and Credibility Analysis

Wise, TransferGo and Instarem stand out when it comes to trust & credibility for The Monito Score due to several reasons. These services excel because:

Wise moves over US$70 billion annually across borders for over 10 million customers; TransferGo provides services to 2.5 million customers and manages around PS1 billion of transfer principal funds each year;
Since Instarem's establishment in 2014, they have rapidly grown to serve two million customers, employ over 200 people, and transfer over US$4 billion worldwide annually.

Worthy Mentions and Special Considerations

Even though some providers earn higher Trust & Credibility scores, it is worth remembering that all services on Monito are completely trustworthy, meeting at minimum stringent trust and security criteria such as segregated user accounts, 128-bit encryption and HTTPS as well as authorisation by relevant financial regulators.

Trust and credibility rankings were also impressive for Remitly (8.9/10), CurrencyFair (8.5/10), and Remessa Online (9.0/10).

Western Union, MoneyGram and Ria also deserve special mention. Their Trust & Credibility scores were reduced as a result of non-transparent pricing practices; nonetheless they remain among the world's three largest money transfer services and remain highly reliable services as a result.
Breaking It Down By Service Quality

Wise and TransferGo both excelled when it came to their Service Quality score, joining Western Union as top three services in this category. Their positions can be explained by several factors including:

Wise provides fast and straightforward registration and money transfer processes; TransferGo offers intuitive money transfers with customer support readily accessible; whilst Western Union provides an almost unmatched variety of pay-in/pay-out methods.

Worthy Mentions and Special Considerations

Paysend (8.0/10), Remessa Online (7.7/10), CurrencyFair (7.5/10) and PayPal (7.8/10) also stand out as strong options, although due to fees we do not recommend PayPal as an international money transfer service despite its convenient mobile transfer platform.
Deliberating Over Fees & Exchange Rates

Fees & Exchange Rates is where Remitly, Wise and Global66 shine as top performers among money transfer services; their offerings have been used by millions of searches on Monito's comparison engine to establish this.

Remitly is most cost-effective and competitive among Monito searches for bank transfers (14%) and cash pick-up (64%); Wise offers similar results on 19% of available searches for bank transfers within all 12 months of 2022;
Global66 ranks first and last for Monito searches that include bank transfers for each month of 2022, at only 10% of available bank transfer searches.

Worthy Mentions and Special Considerations

Money transfer services that specialize in specific corridors may not appear among our global results above due to being priced competitively for that corridor alone.

SingX is often the lowest-priced and most competitive transfer service between Singapore, Hong Kong, and Australia - even more so than Wise or Remitly - while for transfers from Switzerland specialist services b-sharpe and Wise often offer competitive pricing while from UK-Poland corridor TransferGo is often best (though XE Money Transfer may offer similar prices.)

WorldRemit should also be mentioned, as it was the cheapest for 15% of available Monito searches for cash pickups but did not rank among the top three services.

To ensure you find the best offer for your specific transfer corridor, we advise using Monito's real-time comparison engine to search. Break It Down By Customer Satisfaction

By Customer Satisfaction metrics, Paysend, Wise and XE Money Transfer stand out as being among the best money transfer services on Monito. These providers consistently exceeded customer satisfaction metrics with impressive performance as measured by metrics such as:

Paysend: Over 89% of 23 thousand customers who gave feedback to Trustpilot gave Paysend five out of five stars; Wise: 81% of 116 thousand customers gave Wise five stars out of five on Trustpilot;
XE Money Transfer: Roughly 95% of customers who gave feedback on Trustpilot gave XE five out of five stars rating their experience as excellent.

Worthy Mentions and Special Considerations

Many services on Monito are highly-rated with customers, with some only narrowly missing making it into the top three - such as TransferGo (9.6/10), Azimo (9.6/10) and Remitly (9.5/10).