Best money transfer apps. Compared live.

The cheapest way depends on your corridor and amount. Specialist providers like Wise and Remitly typically beat banks by using near-mid-market exchange rates and charging low, transparent fees. Banks often add a 3–5% markup on top of the exchange rate plus a flat wire fee of $25–$50. For most personal transfers under $10,000, digital-first providers offer the best value.

Travelling instead of sending money home? See our country travel guides →

Most transfers take between a few minutes and 3 business days depending on the provider, corridor, and delivery method. Express options from Remitly or Western Union can arrive in minutes via cash pickup. Bank-to-bank transfers through Wise or OFX typically take 1–2 business days. Weekends, holidays, and compliance checks can add extra time.

Yes — reputable providers like Wise, Remitly, and Revolut are regulated by financial authorities such as the FCA (UK), FinCEN (US), and ASIC (Australia). They use bank-grade encryption (256-bit SSL), two-factor authentication, and anti-fraud monitoring. Always verify that a provider is licensed in your country before sending money.

Money transfer companies charge two types of fees: a transfer fee (flat or percentage-based, typically $0–$5 for digital providers) and an exchange rate markup (the difference between their rate and the mid-market rate, usually 0.3%–4%). The total cost varies by provider and corridor. Our comparison tool factors in both to show the true amount your recipient receives.

The best way to compare is by looking at the total amount your recipient will receive — not just the exchange rate or fee in isolation. Enter your send amount, origin, and destination in our comparison tool. We calculate the net receive amount across 90+ providers so you can see which service delivers the most money for your specific transfer.

The best money transfer app in 2026 depends on your needs. Wise consistently ranks highest for exchange rate transparency, using the mid-market rate with fees from 0.41%. Remitly leads for speed and reach to emerging markets, delivering to 170+ countries in minutes. Revolut is ideal for multi-currency flexibility, while Western Union and MoneyGram are the best choice where cash pickup is needed. For large transfers above $10,000, OFX offers zero fees and competitive rates. The most important step is comparing the total cost — transfer fee plus exchange rate markup combined — before committing, as the cheapest-looking option isn't always the best value.

Watch: Wise vs Remitly vs WorldRemit on a $1,000 transfer

Yes — significantly. Banks typically apply an exchange rate markup of 3–5% on top of the mid-market rate, plus a wire fee ranging from $25 to $50 per transfer. Specialist services like Wise, Remitly, and OFX usually cost under 1% in total. On a $2,000 transfer, a bank could cost $85–$150 in combined fees and markup versus $10–$20 with a dedicated service. The key difference is transparency: banks hide their profit inside the exchange rate, making the true cost invisible. Always compare the net amount your recipient receives — not just the advertised fee — before deciding how to send.

The exchange rate markup — also called FX margin or spread — is how most banks profit from your transfer. They quote a rate worse than the mid-market rate (the real interbank rate) and keep the difference. To avoid it, look for providers that explicitly use the mid-market rate, such as Wise. Always check the total amount your recipient receives, not just the advertised fee — a "$0 fee" transfer can still carry a 2–4% rate markup. Use a comparison tool like ours to calculate the true total cost across 90+ providers. Setting a rate alert can also help you time transfers when rates are most favourable.