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.
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