While there are many ways to send money, we narrowed it down to three top-performing companies that offer useful features for different needs.

PayPal

If you’re sending money within the U.S., PayPal is a flexible option, allowing you to transfer money to your bank account or spend money directly from the app. However, international transfers come with high fees, so PayPal is better suited for domestic transfers.

WorldRemit

For budget-friendly international transfers, WorldRemit delivers. WorldRemit offers competitive fees on cash transfers to more than 130 countries.

Wise

Wise is a free borderless bank account that holds more than 50 currencies. With a dedicated debit card, you can convert currency across balances, making it easy to manage money when traveling between countries.

PayPal

PayPal beats other peer-to-peer (P2P) money transfer apps like Venmo and Zelle because of its accessibility and choice of payment methods. Funds may be received instantly into a recipient’s PayPal account and can then be transferred to a bank account as soon as the next day.

Another major advantage of PayPal is that if a recipient doesn’t want to link to a bank account, they can use their PayPal balance to spend money instead because the platform is widely accepted as a payment method.

PayPal’s international transfers come with hefty fees, so it’s better for sending money within the U.S. There’s no overall limit to how much you can send when you have a verified account, though individual transactions are generally limited to $60,000 and some are limited to $10,000. Without a PayPal-verified account, you can send a one-time payment of up to $4,000.

How it works: PayPal account holders can send money to friends and family through the app or online via a web browser. Account holders can send money through a variety of payment methods; recipients also must be PayPal account holders but can sign up for free.

Payment options: Bank account (no extra fee), credit and debit cards (small fee).

Fees: Sending money internationally to family and friends via a PayPal balance, linked bank account, or a credit or debit card is subject to a charge of 5% of the amount sent, with 99 cents as the minimum fee and $4.99 as the maximum.

Speed: Funds may be received as soon as instantly in the recipient’s PayPal balance and can be transferred to their bank account as soon as the next day.

Transaction limits: Verified accounts have no limit for the total sum of money that can be sent but are limited to $60,000 (or sometimes $10,000) in a single transaction.

WorldRemit

When picking a service to send cash internationally, it’s important to pay attention to exchange rates and fees—not every service charges the same amount. Even some exchange rates differ from service to service. WorldRemit has some of the lowest cash transfer fees, and users can send money to people in more than 130 countries.

How it works: You must have an account to use WorldRemit, but signing up is free.

Payment options: Bank account, credit card, debit card, prepaid card, POLi, Interac, iDEAL, Sofort, Google Pay, Apple Pay, Trustly.

Fees: Transfer fees vary and depend on where you send the money. For example, the fee to deliver $50 from the U.S. to a Walmart in Mexico is $2.99.

Speed: Most transfers are instant or near instant.

Transaction limits: Depends on the country you are sending the money from. If you’re sending from the U.S. with a debit, credit or prepaid card, you can send $5,000 per transaction with a maximum amount of $9,000 per 24 hours.

Wise

If you often find yourself waking up in one country and going to sleep in another, managing money across borders can be difficult. Repeatedly exchanging cash for foreign currencies can cost a lot in fees.

Wise, a company focusing on “borderless banking,” makes managing money in multiple currencies a breeze. It’s also possible to do regular money transfers through the platform without setting up its borderless bank account. (Disclaimer: The author of this post had a borderless bank account with Wise under its former name, TransferWise.)

How it works: Setting up a borderless bank account with Wise is free, and each section of the bank account can be designated for a certain currency. For example, if you add a euro balance, the bank account comes with a SWIFT number, just as it would in Europe; if you add a British pound (GBP) balance, that balance will have a sort code. The bank account can hold and manage more than 50 currencies.

For a one-time fee of $9, Wise offers its own debit card—the “Wise card”— and funds can be added in a variety of ways. The account has the ability to convert currencies across balances (for a small fee), and two ATM withdrawals per month are free, within limits.

Payment options: Direct debit, wire transfer, debit card, credit card, Apple Pay. Fees for payment options depend on the currency being paid or converted to.

Fees: $0 monthly account fee; converting currencies using your card is subject to a fee of at least 0.41%; ATM withdrawals of up to $100 per month are free, while anything over that is subject to a 2% fee.

Speed: The time it takes to receive funds on the debit card depends on how they’re added—some are available within seconds.

Transaction limits: There are no limits for how much you can receive and keep in all currencies other than USD. For sending, in most of the U.S. there is a $50,000 limit per day and a limit of $1 million on local transfers.

Each transfer service provides clear instructions on how to send money internationally. But they generally follow the same process.

1. Register or Sign In

Select the best international money transfer app for your needs, and create an account. Verify your identity by providing your driver’s license, passport or other government-issued ID.

2. Provide the Recipient’s Details

Enter the name and banking details of the person receiving the money. If your recipient needs to pick up the money, select the location. Make sure you provide the recipient’s name exactly as it appears on their government ID.

3. Choose How Much Money To Send

Select the amount of money you wish to send overseas and the currency your recipient will receive. Scroll below to click here to access our currency converter calculator.

4. Pay for Your Transfer

You can pay for the transfer with your credit card, debit card or a direct transfer from your bank. Paying for the transfer from your bank account will be the least expensive option, while payment by credit card will likely trigger fees.

5. Track Your Funds

Most apps will provide an anticipated delivery date and time when you complete the transaction. They often allow you to track the status of your international money transfer.

Several factors must be considered when determining how to send money internationally with the fewest and lowest fees. Don’t assume your favorite app is the best option for all your transfers. Fees vary by delivery or payment method, speed and location, so it’s wise to shop around for each new transfer destination.

Using the app with the best exchange rate ensures your recipient will receive nearly all the money you send them. Depending on how large your transfer is, some services may save you more money. Use the website Monito to compare costs across the different companies. You will likely find that one works best for small transfers, while transfers over $2,500 may cost less with a different service.

The best way to send money internationally depends on several factors—like where your recipient is and how much money you’re sending. But the following tips can help regardless of which service you use to send money internationally:

• Shop around. Compare upfront fees and exchange rates across a few different companies. Choose the one that offers the services you need for the lowest fees and best exchange rate.
• Revisit your service needs. Compare prices and features often to make sure you’re getting the best deal. The same service might not always be the best—and cheapest—option over time.
• Consider how you’ll pay for the fee. Don’t use a credit card to pay for your transfer, except as a last resort. It’s usually the most expensive way to pay.
• Check the delivery time frame. Make sure your chosen service’s delivery timeline works for your recipient. Some transfers happen almost instantly, while others may take several days to arrive.
• Track your transfers. Make sure your intended recipient receives their money. Entering incorrect contact or bank information could lead to your money landing in the wrong account.

Currency Converter Calculator

Disclaimer: Our currency calculator uses Open Exchange API to gather current exchange rates. We pull new rates every 5 minutes to ensure that the conversion you see is accurate and up to date. However, the rate you see here may not be the same rate that a bank or other financial institution offers you.