Service
|
Features
|
Score
|
Transfer Money Now
|
||||
---|---|---|---|---|---|---|---|
Best for large transfers
1
|
|
EUR
GBP
Low
GBP
USD
Low
GBP
CAD
Low
|
FCA, FinCen, FSCA
|
||||
2
|
|
GBP
EUR
Low
GBP
USD
Low
GBP
AUD
Low
|
FCA, FinCEN, ASIC
|
||||
3
|
|
GBP
EUR
Low
GBP
AUD
Low
|
FCA, ASIC, MAS
|
||||
Best for transfers up to £3K
4
|
|
GBP
PHP
Low
|
FCA
|
||||
5
|
|
GBP
USD
Low
|
8.4
Review
|
FCA
|
|||
6
|
|
GBP
EUR
Med
|
FCA
|
||||
7
|
|
GBP
AUD
High
|
FCA, ASIC
|
||||
Top10MoneyTransfer recommends checking the following features when comparing online money transfer companies so you can find the best provider for your international transfer.
Check your chosen money transfer provider is regulated by a government authority, to ensure your money is safe & protected when transferred. The main regulators include:
– FCA (Financial Conduct Authority), UK
– ASIC (Australian Securities and Investments Commission)
– FinCEN (Financial Crimes Enforcement Network), USA
Some money transfer services charge a fixed transaction fee, others take a percentage of the transfer sum, while some services waive the transfer fee completely. The conversion rate is another money-maker for many services and as such poses yet another crucial pricing component to examine carefully. Consider the above to find the most cost-effective solution for your transfer.
Check the customer support channels available are convenient for you. These generally include email, online chat, phone or online ticketing system. In addition, some money transfer services provide a personal account manager to assist with special transactions and important tasks. Try checking this beforehand, to avoid stress when you need help.
It’s important to confirm the sending options offered by your preferred money transfer provider are convenient for you. You should also ensure that your recipient is able to easily collect the money sent. Common sending options include bank transfer or credit card. Common receiving options include bank transfer and cash pickup.
Another important element to consider is the amount of money you wish to transfer. Some services offer better features and benefits for large transfer amounts or business transfers, while others better handle small transfer amounts or cash transfers. Use our comparison table to determine which provider best suits your money transfer needs.
The FCA , the main regulatory financial authority in the UK, is responsible for monitoring activities of UK based financial services. It is highly recommended to use the services of a company registered and licensed by the FCA when making a money transfer from the UK.
Most top-rated UK based money transfer services offer a completely digital account opening and user-authorization process. Any required proof of ID documents can be supplied digitally, eliminating waiting times. With this option, new customers are able to complete the onboarding process online, in just a few minutes.
The UK is at the center of the modern FinTech industry, hence you can find a lot of different money transfer services to choose from. This gives users the option to use a service that charges minimal or no transaction fees combined with fair mid-market exchange rates. You can save on average up to 8 times on rates & fees by using top services like XE instead of a high-street bank such as Lloyds.