![]() Such fees can range from $1 right up to $30, with $25 being an average fee. However, because their international transfer fees range from between $6 and $35, they’re often far more expensive than other money transfer options. It’s worth watching out for hidden fees from banks, such as ‘receiving bank fees.’ This means the person you send money to also has to pay their bank to receive their payment. Of course, the exchange rate you’re offered should always be your first point of comparison, as this will have the greatest overall effect on the cost of your transfer.īanks were traditionally the way that most people transferred money overseas and many people still use banks for this function. These tend to be much higher than those charged on online transfers, though. The fee you’ll pay will depend on whether you want a standard or express service and whether you’re paying in cash or using a credit card. However, some providers (such as Western Union) offer instant cash transfers which can be arranged in many countries around the world. They either charge a flat fee (up to $15) to do the money transfer or they charge a percentage of the transfer amount (typically from 0.4% to 0.5%), with some even offering free transfers over a certain amount (such as $10,000). Many offer an online-only transfer service, often backed up by 24/7 customer support either by phone or online chat service. Most importantly, they can have your money at its destination within two days, with same-day and even instant transfers also possible in certain situations. They frequently offer the highest exchange rates, low fees and great online and mobile platforms to make transferring money internationally simple. Online money transfer services specialise in sending funds internationally and are often the cheapest way to do so. International money transfer service providers There are essentially two main options to send money overseas: an online money transfer and exchange service and your bank. if there are fees charged to the receiver of the transfer.how you’re going to pay for the transfer.whether you’re sending money electronically or by cash.whether it’s going to be a one-off transfer or a regular occurrence.The best provider for your transfer will be influenced by: The best one for your transfer may not be the best one for your neighbours, as all international money transfer providers tend to have their own specialities. There’s no such thing as a ‘one size fits all’ international money transfer provider.
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