Top 12 Apps for International Money Transfers
Table of Contents:
- Introduction to Online Money Sending Applications
- MoneyGram: Sending Money Abroad with Security and Speed
- Ria Money Transfer: Simple and Secure Transfers
- Remitly: Highly-rated Money Transfer Application
- Wise: Quick and Transparent International Payments
- Zoom: Low Transaction Fees for PayPal Users
- Western Union: Extensive Cash Pickup Locations
- PayPal: Worldwide Payment and Transaction Solution
- Revolut: Instant Money Transfers in Multiple Currencies
- CurrencyFair: Cheap Rates for Online Bank Transfers
- OFX: Sending Money Worldwide with Rate Alerts
- PaySend: Easy and Quick Money Transfers
- WorldRemit: Wide Range of Payment Methods
Introduction to Online Money Sending Applications
Sending money abroad has become more convenient and accessible with the rise of online money transfer applications. These applications offer simplicity, convenience, and low fees compared to traditional bank transfers. In this article, we will explore the top 12 applications to send money online, highlighting their features, pros, and cons.
MoneyGram: Sending Money Abroad with Security and Speed
MoneyGram is a popular money transfer application that allows users to send and receive money abroad in many countries. The application offers multiple payment methods, including cash withdrawal and deposit in a checking account. MoneyGram emphasizes its security procedures and fast money delivery. However, it has one of the highest rates in the industry, which can be a drawback for some users.
Ria Money Transfer: Simple and Secure Transfers
Ria Money Transfer is another reliable application for sending money abroad. It offers online transfers through its website and has a user-friendly interface. The application provides a high level of security and low commissions for its services. However, its physical branches are limited to the United States, which can be inconvenient for users in other countries.
Remitly: Highly-rated Money Transfer Application
Remitly is well-regarded in both Google Play and the App Store as one of the best money transfer applications. It does not require a minimum transfer and allows users to receive funds through mobile money. However, there is a limit on the amount of money that can be sent, and a government-issued ID is required. Remitly's simplicity and high ratings make it a preferred choice for many users.
Wise: Quick and Transparent International Payments
Formerly known as Transferwise, Wise is an application that enables quick and secure money transfers to accounts located abroad. It offers unlimited payments in a transparent manner and allows users to set up automatic subscriptions. Although Wise does not support as many currencies as other providers, it stands out for its compatibility with Apple Pay and the option to open an online bank account in the United States.
Zoom: Low Transaction Fees for PayPal Users
Zoom is an application that benefits PayPal users by providing low transaction fees. It has cash withdrawal points in Mexico and offers direct deposits to bank accounts. The service covers 56 countries, making it convenient for users worldwide. Zoom is widely used in the United States due to its advantages in sending funds.
Western Union: Extensive Cash Pickup Locations
Western Union is a renowned name in the money transfer industry, offering over 35,000 cash pickup locations in Mexico. This vast network helps ensure fast cash pickups, particularly for those in rural Mexico. Western Union allows online transfers through its mobile app, and payment options include U.S. bank accounts, Apple Pay, and debit/credit cards. However, transfers made at Western Union locations in the United States must be paid in cash or with a debit card.
PayPal: Worldwide Payment and Transaction Solution
PayPal is a widely recognized application that enables users to send, receive, and accept payments worldwide. With operations in over 200 countries, PayPal provides a secure platform for online commerce and includes an advanced anti-fraud system. It offers three different account types (personal, premier, and business) to cater to various needs. Many e-commerce stores support payments through PayPal.
Revolut: Instant Money Transfers in Multiple Currencies
Revolut is a convenient application for transferring money instantly to accounts abroad. It supports transfers in over 26 currencies for free, with relatively low commissions in other countries. Users can make payments through Apple Pay and Google Pay by linking their MasterCard credit card. While the account opening and prepaid credit card usage are free, there is a shipping cost of 5.95 Euros.
CurrencyFair: Cheap Rates for Online Bank Transfers
CurrencyFair stands out for its affordable rates for sending money to foreign bank accounts online. The application allows small minimum transfer amounts and offers low fees compared to other tools. However, it only facilitates deposits between bank accounts, limiting its functionality for specific operations.
OFX: Sending Money Worldwide with Rate Alerts
OFX is an application that allows users to send money to more than 190 countries. Its notable feature is rate alerts, which notify users of the best time to transfer funds between countries. Transactions are free and offer better exchange rates than banks, provided the transfer amount exceeds $250. However, the application is only available in English, requiring some knowledge of the language.
PaySend: Easy and Quick Money Transfers
PaySend is a money transfer application that operates in 90 countries. It offers three transfer mechanisms: cards, bank accounts, or mobile numbers. Before initiating a transfer, the application provides information about the exchange rate, transfer fee, and expected amount to receive. The process takes only a few minutes, and technical assistance is available in case of any problems.
WorldRemit: Wide Range of Payment Methods
WorldRemit is an application that allows users to send money to more than 140 countries and receive money from over 50 countries. It offers various payment methods, including cash pickup and bank transfers. While transfers generally take a day to arrive, occasional delays may occur. WorldRemit supports website transfers and has an application for convenient access.
Overall, utilizing these online money sending applications has become the recommended option due to their convenience, security, and speed. With a wide range of choices available, users can select the application that best suits their needs. These applications provide an efficient and cost-effective way to send money internationally, revolutionizing the traditional banking landscape.
Highlights:
- Convenient and accessible online money transfer applications
- MoneyGram: Security and speed for sending money abroad
- Ria Money Transfer: Simple and secure transfers
- Remitly: Highly-rated money transfer application
- Wise: Quick and transparent international payments
- Zoom: Low transaction fees for PayPal users
- Western Union: Extensive cash pickup locations
- PayPal: Worldwide payment and transaction solution
- Revolut: Instant money transfers in multiple currencies
- CurrencyFair: Cheap rates for online bank transfers
- OFX: Sending money worldwide with rate alerts
- PaySend: Easy and quick money transfers
- WorldRemit: Wide range of payment methods
FAQ:
Q: What are the advantages of using online money sending applications?
A: Online money sending applications offer convenience, low fees, and faster transactions compared to traditional bank transfers.
Q: Which application is best for sending money abroad with security and speed?
A: MoneyGram is highly recommended for its security procedures and fast money delivery, although it has relatively higher rates.
Q: Are there any money transfer applications that allow unlimited payments and automatic subscriptions?
A: Wise (formerly Transferwise) offers unlimited payments in a transparent way and allows users to set up automatic subscriptions.
Q: Can PayPal be used for worldwide payments and transactions?
A: Yes, PayPal is widely recognized and operates in over 200 countries, making it suitable for sending, receiving, and accepting payments globally.
Q: Which application provides rate alerts for sending money worldwide?
A: OFX offers rate alerts to inform users about the best time to transfer money between countries.
Q: Which application offers a wide range of payment methods for international transfers?
A: WorldRemit supports various payment methods, including cash pickup and bank transfers, providing flexibility for users.
Q: What are the limitations of CurrencyFair for money transfers?
A: CurrencyFair only facilitates deposits between bank accounts, limiting its functionality for other specific operations.
Q: Are there any money transfer applications that have physical branches?
A: Ria Money Transfer and Western Union have physical branches, but their availability may vary depending on the country.
Q: Which application is recommended for low transaction fees for PayPal users?
A: Zoom is an application that offers low transaction fees for PayPal users and provides cash withdrawal points and direct deposits to bank accounts.
Q: Are there any money transfer applications that operate in multiple currencies?
A: Revolut allows users to transfer money in over 26 currencies and provides compatibility with Apple Pay and Google Pay.
Q: Which application is suitable for quick and secure transfers with a user-friendly interface?
A: Remitly is highly-rated and offers a simple and secure platform for money transfers, with a user-friendly interface for easy navigation.
