Since there are big price differences when sending money abroad, people are often interested in a money transfer comparison and it is not easy to keep track of the numerous providers and an independent, detailed money transfer comparison would also represent a considerable amount of time.
So here we offer an optimal way to find the cheapest provider quickly and easily. Many customers of transfer providers decide prematurely on a provider without having compared all available options. Unfortunately, the choice is rarely made for the cheapest offer. Especially with higher fees or if a regular international transfer of money is planned, the provider comparison is worthwhile.
On these comparison pages, many currently available service providers are listed, with whom a money transfer abroad can be carried out. In a clear overall comparison, you will find the essential information about prices, exchange rates and transfer methods offered.
But our transfer comparison goes much further in depth: With comprehensive test reports, we show the advantages and disadvantages of each individual provider and also examine the weak points critically. Through our own research, we have worked out for whom the offer of the respective transfer company makes sense and who should look for other alternatives.
The countless possibilities offered by fast data transmission through the Internet have made sending and receiving money easier than ever. Numerous companies take advantage of this and usually offer a much cheaper international money transfer than most established banks.
In order not to fall for a dubious offer, a good provider of money transfer services should have the following characteristics:
Money transfer providers are preferably used by customers who regularly transfer money to other countries. If you want to transfer money outside your country, you often pay high fees at the banks and there are sometimes considerable fluctuations in the speed of execution.
External service providers who specialize in transferring money abroad are ideal here. The fees here are usually much cheaper than with established banks and the transfer is quick. In some cases, urgently needed money can even be transferred in just a few minutes.
What fees does the provider earn?
The question of fees seems simpler than it really is. Because it is not only with the obvious transfer fees that money can be earned when sending money. Some money transfer providers also strike heavily with the exchange rates.
When transferring smaller amounts, this does not have a particularly strong effect compared to the regular fee for the money transfer. However, if larger sums of money are sent, care should be taken to choose a provider with a fair exchange rate.
How is the company regulated?
In order to be able to officially offer money transfers, the companies must acquire a corresponding license. The licensed providers are therefore subject to the established regulations for electronic money transactions, compliance with which is regularly checked. A valid license should therefore not be missing from a reputable company.
What can the provider do better than the competition?
Is it the cheapest provider available? If not, what other benefits does a money transfer with this exact company offer? The number of providers for international money transfers is large and continues to grow, so that customers have a wide choice available. This advantage, consumers should also be used, because the competition among different providers is large, so it that many good deals out there, so that it only applies to find the best of it.
In light of all the points raised above and the questions asked we have compiled a list of top 5 money transfer companies that you can choose from, when transferring money internationally. These companies provide the best exchange rates, the lowest fees and the fastest service and if you run into any issues you can trust them to resolve them as they are heavily regulated worldwide. The companies are as following.
When transferring money in the Americas and Europe and even in Asia in general, these companies are your best bet, but when it comes to sending money to China, we recommend Statrys and when it comes to India, we recommend Spay India. That is not to say the above-mentioned companies don’t work well there. It is just that these companies have the home advantage.
Overall, if you follow the criteria that we have shared with you and ask the right questions, you will find the right company to transfer money cheaply and securely.
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