Best Ways To Transfer Money Abroad - A Home For Expats
Transfer money abroad

Best ways to transfer money abroad

Sending money abroad or to your country is made simple with a plethora of online services competing against each other in speed, cost, and security. While there are many comparisons online, here we list the top 3 that most Indians in Germany use.

Before going into detail about each of them, here is a comparison table showing the gist and rated based on experience of our community users and online research.

Service

Pros

Cons

Best ways to transfer money abroad 1
9.8

  1. Low and transparent transfer fees
  2. Fantastic user experience
  3. Exceptional customer reviews on Trustpilot
  1. You can only send to a bank account
  2. Transfers above 1000$ might take additional time to reach.

Best ways to transfer money abroad 2
9.5
  1. Transfer fees as little as 0.1%, to 0.6%, plus a fixed €3 transfer fee.
  2. securely send money to over 150 countries.
  3. exchange rates up to 8x cheaper than the banks
  1. Sign up restricted to certain countries.
  2. Not ideal for some due to the way it works.
  3. Limited number of currencies supported (22)

Best ways to transfer money abroad 3
9.1

  1. Low and transparent transfer fees
  2. Secure, fast and convenient transfers through Skrill Money Transfer
  3. Very positive customer reviews on Trustpilot

  1. Currently available in only a limited number of countries
  2. You can only send to a bank account or mobile wallet
  3. Some transfers are held to verify the account. This can annoy some first time users.

TranserWise: Transfer Money Abroad

TransferWise is a global technology company that’s building the best way to move money around the world and it is one of the best to transfer money abroad


More than 5 million people and businesses have stopped using banks, PayPal, and traditional providers because TransferWise is cheaper, faster, and easier. Huge companies and banks use TransferWise technology too; an entirely new cross-border payment network that will one-day power money without borders for everyone, everywhere. Over five million people use TransferWise, which processes over £4bn in payments every month, saving customers over £1bn a year.

TransferWise charges a flat 0.5% fee, regardless of the amount. So you would pay around €10 fee for example if you wanted to transfer EUR 2,000 into whichever currency. TransferWise gives a live guaranteed price.

Pros:

  • Live Guarantee price for 48hrs
  • Instant (Money can be transferred in a few sec if less than €1000 or 24 -48 hrs)
  • Excellent chat or email support
  • Many options to pay: Sofort, Credit Card, Debit Card, Bank Transfer
  • Have various options: Low-cost money transfer, Fast Transfer, Easy Transfer
  • Option to open Bank account
  • Debit card which can be used anywhere as per live exchange rate

Cons:

  • In rare cases, money transfer is delayed in some countries
  • Transferring with credit card is additional charges

Currency Fair:

CurrencyFair is an online peer-to-peer currency exchange marketplace. CurrencyFair is headquartered in Ireland also with employees in the UK, Australia, Greece, Hong Kong, Poland, and Singapore. The company has offices in Newcastle, NSW, Australia, Singapore, and Hong Kong.

It has a unique approach to international money transfers. Instead of exchanging your currency with a bank or a money transfer company, you actually exchange with other CurrencyFair customers to transfer money abroad

Once you transfer in money to your account, we will exchange it at rates up to 8x cheaper than the banks and transfer out to your recipient without delay.

You can securely send money to over 150 countries. Fully licensed and regulated, with a 10-year track record of best-in-class service for quick, low-cost money transfers.

Get 10 free transfers with us. Click signup button below

Transfer fees: Little as 0.1%, to 0.6%, plus a fixed €3 transfer fee.

Skrill:

Skrill is a digital wallet provider enabling a range of online payment and money transfer services. Established in 2001, Skrill is now owned by the Paysafe Group, a large payments group that provides payment services online, in person, and via other channels. Skrill started as an eCommerce payment gateway

You can transfer money abroad through Skrill Money Transfer and fund the payment via credit card, debit card, SOFORT, or bank transfer, depending on where you’re located and the currency you’re using.

You can transfer the money internationally with 0 fees. Sign up now and get €15 credit when you make your first international transfer of €150 euros or more.

Transfer Fees : Free

Pros:

  • The international transfer is free
  • Can use as a digital wallet
  • Skrill card can be used as a debit card and use for payments
  • Good email support
  • Can use a credit card to transfer money internationally without fees

Cons:

  • No Live Guarantee price

Thank you for reading the post. This post contains affiliate links that give us little commission to run our website and provide valuable information for free.

Please let me know if you are using any other best options to transfer money abroad and we would like to add it.

Kiran
Working as a Software Test Automation Engineer. I love photography and traveling. Check out my Instagram for beautiful pictures. I created this website to help expats to navigate life and career in Germany.