Frequently Asked Questions


Can I trust a company I found on Monito but never heard about before?

 

Yes. We only list money transfer operators or banks that are fully authorized and monitored by the regulation authorities of the countries where they operate.

How can I use Monito to find the best ways to send money home?

 

Before each international money transfer, you should come and compare the costs of the different options on Monito, as they may have changed. Once you fill out the above form and click on compare, you’ll see a list of all the options to send money between two countries. The cheapest option is at the top, but you may want to consider other criteria such as the speed of transaction or the pay-in or pay-out methods.



I simply use my bank to send money abroad, do I really need to compare other options?

 

Of course! Banks are usually not the best way to make international money transfers. The fees can be quite low (and sometimes even zero), but beware of the poor exchange rates which banks often apply. We list as many banks as possible in our results, so do compare to find out if you’d be better off switching to another bank or a specialized money transfer company.

How do you ensure a transparent comparison between the different companies?

 

Whenever possible, we work with money transfer companies to get access to exact and up-to-date information on their fees and exchange rates. We always check the information we receive. Search results are always displayed transparently and ordered by objective criteria such as total cost, transfer speed, or customer rating.



My favorite company to send money home is not listed in your results, why is that?

 

As much as we try to have complete information and to include as many money transfer companies in our results, we sometimes miss a few. In this case, the best solution would be to write us a short message to let us know what’s missing!

You don’t have any companies for the countries I need, what can I do ?

 

We work hard to cover as many countries as possible, and we’re sorry that we aren’t able to help you yet. You can leave us your email address here specifying which countries you are interested in, so that we can send you an email as soon as we have something for you.



How does Monito collect its information on money transfer companies?

 

We have various ways of collecting information. Our preferred way is to collect real-time data from money transfer companies directly, which allows us to display very accurate information. When this is not possible, we collect data manually or through reliable sources such as the World Bank.

Since Monito is free to use, how do you make money ?

 

Monito has a commission-based business model. We receive a commission when a Monito user sends money with one of our partners. Of course, as a user, you never pay more than if you went directly to the money transfer company . In fact, you may even pay less as we can sometimes negotiate exclusive deals for our users!

Why do money transfer companies partner with you?

 

We are a very efficient way for these companies to promote themselves and acquire new customers. This helps them reduce costs, which ultimately benefits customers through lower prices. This way, everyone wins!