Money Transfer Reviews

We've reviewed and rated the best money transfer companies in the industry, so you know exactly what you're signing up for.

When looking to send money abroad, it's very important to conduct your own research into what a money transfer is and the best ways to transfer money abroad.

There are 4 types of companies out there:

  • Currency brokers
  • Money transfer apps
  • Remittance companies
  • Banks

On this page, you'll find all of our in-depth reviews, where we've investigated and rated each company based on their safety, cost, customer reviews and service.

I'll also explain a little about what each type of company does and what they're best for.

This, alongside our money transfer guides, should arm you with all the knowledge you need to make an informed decision.

Star rating.

Currency Brokers

A currency broker is a type of money transfer company that provides a predominantly phone-based service.

Although some brokers like Currencies Direct and TorFX also provide mobile apps, too.

We recommend using a currency broker for transactions over £20k (or equivalent).

You'll be assigned a 1-on-1 account manager who'll help you every step of the way, and also try to get you the best exchange rate possible.

Transferring large amounts of money abroad can be a stressful task, and the personalised service really gives some peace of mind.

It might be helpful for you to check out our guide on the best currency brokers.

Here's all of our currency broker reviews:

Money Transfer Apps

A money transfer app is exactly what you think it is: an app for transferring money abroad.

You basically do all of the work yourself instead of having someone help you.

Some people prefer it this way.

However, when transferring large amounts abroad, it's important to have someone there to speak to.

If anything goes wrong with your transfer, it's a lot of money to worry about.

That's why we recommend you only transfer up to £20k worth with a money transfer app, and use a currency broker for larger amounts.

That way, you can guarantee a stress-free experience (we hope).

The best money transfer apps come loaded with features and helpful tools, like Wise's multi-currency account or XE's rate alerts.

Here are our money transfer app reviews:

Remittance companies

Remittance companies specialise in sending money home to countries in Africa, Asia and South America.

Their most popular destinations are Nigeria, Pakistan, India and Philippines to name a few.

You'll find that a lot of currency brokers and money transfer apps either won't send to or make it difficult to send to these types of countries, simply because of the risk level involved.

Remittance companies have come in and made it easier.

Therefore, naturally, they are the more expensive option.

They'll provide better rates than your bank, but they won't be the best on the market.

Remittance companies typically provide sub-par customer support, with no added features to their service.

Here are our remittance company reviews:


Using your bank to transfer money abroad will be by far the most expensive option.

They provide the worst rates around, coupled with poor customer service and no personal touch.

If the banks provided good rates and great service then currency brokers, money transfer apps and other alternatives wouldn't exist.

That's why we recommend you avoid banks entirely.

We've written a number of guides on transferring money with UK banks, what to look out for and the alternatives available.

Money transfer guides

Learn the ins and outs of money transfers with our in-depth guides

Discover the best practices for fast, secure and cost-effective international money transfers.

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Money TransfersInternational Payments and Remittances Report
TopMoneyCompare's 2024 Money Transfer Report: Global Payments & Remittances.
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UK BanksBest Banks for International Transfers
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Multi-Currency AccountsTop 5 Multi-Currency Accounts (From an Industry Insider)
Here's my top 5 multi-currency accounts, complete with some industry insights, and best practises.
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Exchange RatesBest Exchange Rates for Bank Transfers
Learn about international money transfer rates, how to calculate them, and how to find the best exchange rates.


Here are some answers to the questions we get asked the most.

My bank offers currency transfers. Should I just use them instead?

No. Most high-street banks offer the worst currency rates on the market, paired with poor service and large transfer fees. On top of that, you won't have an advisor there to help with timing your exchange. In short, using your bank isn't a good idea.

Can I use TopMoneyCompare to send money?

No. We are simply here to compare the different options available for you, and give you the necessary advice to help you with your transfer and maximise your exchange. We are not a currency broker or payment provider.

Can I trust all of the companies on TopMoneyCompare?

Yes. We want to make sure that you and your funds are as safe as possible. That's why we only write about and compare regulated companies. You can rest assured that any company listed on TopMoneyCompare is very safe.

How does TopMoneyCompare find the cheapest way to send money?

Simply put, we take your transfer volume and run an exchange rate quote with our listed providers. We'll then list the cheapest options for you to pick from. The top option will be the cheapest, however you may want to consider other criteria as well such as fees or transfer speed.

What is an international money transfer?

An international money transfer is the movement of money from one country to another via a bank transfer. Usually, this requires a currency conversion. Our purpose is to help you find the cheapest way to transfer money internationally.

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