Monito Awards 2024: The World's Best International Money Transfer Services, Ranked By Monito Score

François Briod


Jarrod Suda


Apr 8, 2024
Advertiser disclosure

It's commonly believed that traditional banks are the most secure and optimal way to transfer funds internationally. This old advice no longer applies in today's age, thanks to the advent of online international money transfer companies. Consumers now have access to more options and lower or no fees.

But how can consumers ensure they are getting the best deal? With numerous international money transfer organizations claiming to be the "cheapest," "most convenient," or "easiest to use," it can be challenging to determine the most suitable provider.

To this end, we are pleased to present the Monito Awards for 2024. Extensive background research has been conducted on each money transfer company, and data from our real-time comparison engine has been analysed to calculate the Monito Score for every service provider. We showcase the world's best international money transfer companies, recognised for transparent pricing, quality of service, customer satisfaction, and more.

Monito Awards 2024: Summary

🕵️‍♀️ Companies Reviewed


💰 Monito Readers' Savings

$80 million in fees

🔍 Comparison Engine

25 million comparisons

🥇 First Place
✨ Best Platform Experience
💸 Lowest Overall Fees
🌟 Highest Customer Reviews
🏆 Most Awarded

How We Review Money Transfer Providers

With more than 50 providers reviewed and 100 test transfers made over the past ten years, we pride ourselves on providing the best reviews of international money transfer services online. Curious how we make them and why you can trust us? Take a look at our process below:

Without further ado, we present the Monito Awards for the best international money transfer companies in the world ranked by Monito Score (with data updated for 2024):

1st Place: Wise (9.5/10)

Wise has established itself as a leading provider by operating on a peer-to-peer model, connecting individuals and businesses looking to exchange currencies directly with each other. Unlike traditional banks and some legacy money transfer providers, Wise's innovative system allows for lower costs and more competitive exchange rates.

What sets Wise apart from many other providers is its commitment to transparency and fairness. One factor that contributed to Wise winning first place is its practice of always applying the real mid-market exchange rate. This means that Wise never adds hidden exchange rate margins to transactions. In addition to its low fees (especially when sending from India or Turkey, and sending to the US, Poland, or the UK), Wise offers a user-friendly multi-currency app that has garnered high ratings from customers across all app stores.

Visit Wise

2nd Place: Revolut Money Transfer (9.4/10)

Revolut distinguishes itself in the market with its multitude of unique features. One standout aspect of Revolut's services is its multi-currency accounts, allowing customers to hold and manage funds in different currencies. Additionally, Revolut offers direct debits in select currencies (varying by country).

Revolut secured second place on Monito, notably thanks to its excellent exchange rates, which are also transparent and easy to understand directly in the app. Additionally, Revolut's mobile app has been highly regarded by customers, providing an excellent user experience and receiving thousands of positive reviews.

Visit Revolut

3rd Place: Remitly (9.3/10)

Remitly is one of the lowest cost international money transfer providers on average around the world. In such as competitive landscape, Remitly stands out with its instant transfer options and targeted focus on key remittance corridors. Moreover, Remitly is often the best choice for sending cash pick-ups to recipients, further enhancing its appeal and convenience among customers.

Remitly's commitment to very low rates for remittances to major receiving countries, including India, Turkey, Mexico, the Philippines, Colombia, and dozens more, played a significant role in its recognition as second place on Monito. Additionally, Remitly's user-friendly app has earned high ratings and reviews from customers for its reliable and fast platform.

Visit Remitly

4th Place: Currencies Direct (9.0/10)

Currencies Direct is an experienced, high-quality currency exchange service known for competitive exchange rates — especially for large volume transfers.

Currencies Direct sets itself apart with its range of tools including forward, limit, and stop-loss orders, helping you to manage foreign exchange fluctuations and exchange rate risk. With expertise in multiple countries, Currencies Direct's phone, online, and app interfaces are highly-rated by customers for convenience, trustworthiness, and ease of use.

Visit Currencies Direct

5th Place: TransferGo (8.9/10)

TransferGo clinched the spot as the fifth-best money transfer company on Monito in 2024. Available in the UK and Europe, TransferGo consistently supports some of the cheapest rates on international money transfers across the globe, but especially to countries in Europe.

With excellent customer service reviews on Trustpilot, Google Play, and the App Store and very competitive fees and exchange rates, TransferGo stands out as a much-loved and well-priced alternative to banks and many other online money transfer operators.

Visit TransferGo

Best Platform Experience: Sendwave

Sendwave clinched Best Platform Experience due to its exceptional customer-friendly interfaces across both desktop and app platforms. Signing up is fast, with a seamless process that allows you to link your debit cards, verify your identity, and initiate transfers within minutes. The money transfer process itself is swift and hassle-free too.

Moreover, Sendwave's commitment to customer satisfaction shines through its 24/7 phone support available in multiple languages. With flexible payment options including bank transfer, debit card, and credit card, Sendwave offers convenience and accessibility to its customers.

Visit Sendwave

Best Pricing: Wise

Wise claimed the top score in the Pricing category on Monito in 2024. Using proprietary Monito data, Wise demonstrated its competitiveness and excellent low fees across hundreds of country and currency corridors. Not only does Wise cover a vast scope, covering 1000+ routes (country combinations) across 57 currencies, but most of their international bank transfers are completed within one to two working days.

Visit Wise

Best Customer Satisfaction: XE Money Transfer

XE Money Transfer earned the top Customer Satisfaction category score on Monito, thanks to its highly-rated and trusted foreign exchange platform. The app has garnered exceptional ratings from millions of customers, including a 4.8/5 rating from over 2,220,000 reviews on the Google Play Store, a 4.8/5 rating from 47,900 reviews on the Apple App Store, and a 4.3/5 rating from 68,165 reviews on Trustpilot.

Visit XE

The Runner-Ups

These runner-up international money transfer companies for the 2024 Monito Awards ranked 6th through 10th by Monito Score. These service providers stand out among dozens worldwide, offering reliable and efficient money transfer solutions:

6. Paysend (8.8/10)

Paysend operates an impressive network of around 110 receiving countries. With consistently low and competitive fees and exchange rates, Paysend is highly specialised in sending instant debit card or prepaid card transfers.

Paysend generally offers low fees for transfers from Mexico or Colombia, as well as transfers from the United States to Canada.

7. OFX (8.8/10)

OFX is known for its comprehensive range of services and reputation as one of the largest and most trusted providers in the world. OFX offers forward contracts and limit and stop loss orders, allowing customers to manage their foreign exchange risk effectively.

The company offers very low exchange rate margins, especially from Mexico and from the United States. Additionally, OFX charges no fixed fees. The service has received praise from customers for its outstanding support and professionalism too.

8. XE Money Transfer (8.7/10)

XE Money Transfer covers a vast scope, supporting 130 countries and around 100 currencies. Additionally, XE is backed by Euronet Worldwide, which gives customers the peace of mind that their money is in safe hands. Most transfers are completed within one working day. It is a much-loved platform with many glowing customer reviews.

XE is very competitive for international money transfers to India from either the United States or the UK. It's also great for the popular UK to Poland corridor.

9. Atlantic Money (8.7/10)

Atlantic Money offers a seamless and intuitive interface for customers and uses the real mid-market exchange rate. In addition to no hidden markups, it charges transparent flat fees per transfer.

Atlantic Money is particularly competitive for UK to Poland or EU to USA transfers. Overall, Atlantic Money is a reliable and up-and-coming solution for international money transfers.

10. Halo Financial (8.7/10)

Halo Financial is a great choice for substantial savings on large transactions. Their commitment to customer service has garnered them a reputation for swift and accessible support.

Halo Financial offers a comprehensive suite of services including spot rates, forward trades, automated orders, and regular currency transfers. This array of options caters to both individual and business needs, especially when sending large transfers to and from the UK.

Other Awards: The Best Money Transfer Providers for Various Use Cases

Each money transfer specialist has its strengths and weaknesses, with some being better suited for transfers between certain countries while others shine at particular pay-in methods. Take a look at the breakdown below to discover the top providers for major use cases according to The Monito Score and data from hundreds of thousands of searches on Monito's real-time comparison engine.

Easiest Account Opening: Panda Remit

Panda Remit has been recognised as the provider with the easiest account opening on Monito, owing to its easy user experience across both mobile and desktop interfaces.

The ease of opening an account was evaluated using our comprehensive agony index, which considers factors such as the time required, the number of steps involved, and the level of friction or back-and-forth between devices. We found Panda Remit to minimise complexity and ensure a hassle-free account opening experience for customers.

Easiest to Transfer Money: PayPal

PayPal is the easiest provider to transfer money on Monito, backed by our comprehensive agony index evaluation.

This index takes into account essential factors such as the setup time, number of steps, and the integration level with banks, mobile wallets, credit cards, and other financial tools. Although it is often among the most expensive options, PayPal offers a wide range of payout options, including bank transfers, cash pick-up, and mobile wallets.

Easiest to Contact Customer Support: Sendwave

Sendwave is the easiest to contact customer support on Monito according to our customer support agony index, which assesses the accessibility of customer support representatives. Sendwave offers live chat and phone support available 24/7.

Best for Card Transfers: Profee

Profee often offers the best rates for debit and credit card transfers, earning the company recognition as the best provider to send money to cards.

As a specialist in utilising popular payment processors such as Mastercard, Visa, and others, Profee allows individuals to send money directly from card to card. By leveraging bank-level security measures, Profee ensures the safety and integrity of card transfers.

Best for Bank Transfers: Wise

Wise stands out as the top choice for bank transfers in 2024 according to Monito's comparison engine.

Our data showed that Wise consistently offers one of the most affordable options for sending money from bank to bank, providing competitive rates worldwide. What sets Wise apart is its commitment to transparency, always applying the real mid-market exchange rate without any hidden margins.

Best for Cash Pick-Up: Remitly

Remitly is the most cost-effective option for transfers to cash pickups worldwide based on our data in 2024 using Monito's comparison engine.

Remitly also has extensive cash pick-up location networks in major remittance-receiving countries around the world. Whether you need to send money for emergencies, support loved ones, or fulfil financial obligations, Remitly stands out as the go-to choice for affordable and reliable cash transfers.

Best for Mobile Wallets: Remitly

Remitly is the top choice for mobile wallet transfers in 2024, according to our data.

With its seamless integration with various local mobile wallets, including GCash in the Philippines and M-Pesa in Kenya, Remitly provides a convenient and efficient way to send money directly to mobile wallets worldwide. In addition to its extensive wallet network, Remitly also offers among the most competitive rates on international transfers to those mobile wallets.

India Award: Panda Remit

Panda Remit clinches the India Award on Monito's comparison engine for 2024. Panda Remit was the most affordable provider in 28.9% of all searches for remittances to India throughout all of 2023. This surpasses the second-ranked provider, Remitly, which was the cheapest option for 22.4% of searches to India.

Mexico Award: Remitly

Remitly secures the Mexico Award this year, claiming the top spot with an impressive 33.2% share on Monito's comparison engine. In contrast, the second-ranked provider, WorldRemit, trails behind as the cheapest for 24% for remittances to Mexico. This difference highlights Remitly's dominance in affordability for transfers to Mexico throughout all of 2023.

Nigeria Award: WorldRemit

WorldRemit earns the Nigeria Award as the cheapest option on 46.1% of searches to Nigeria on Monito (from January to December 2023). TransferGo secured second place with 18.5% share for remittances to Nigeria. WorldRemit's success has been largely thanks to its dominance in affordability when customers send US Dollar ($) transfers to Nigeria.

Philippines Award: Remitly

Remitly wins the Philippines Award on Monito's comparison engine for 2024, being the cheapest option for an impressive 39.4% of searches. In comparison, second place WorldRemit garnered a 20.3% share for cheapest remittances to the Philippines. Remitly is a top choice for customers seeking affordable money transfers to bank accounts, cash pickups, and GCash mobile wallets in the Philippines.

Bangladesh Award: Remitly

Remitly takes the Bangladesh Award on Monito's comparison engine for 2024, securing its place as the cheapest provider for 26.9% of searches to Bangladesh. Wise follows closely in second place with 24.9% from January to December of 2023. Remitly is notably affordable for international transfers from the USA to Bangladesh, while Wise offers cheap international transfers from India to Bangladesh.

10 Best Money Transfer Companies at a Glance

With the Monito Score update for 2024, see the international money transfer companies with the best fee rates in the world. Compare their services, customer reviews, and other capabilities too.











Bank deposit, mobile wallet deposit



0.5% - 2%




Bank deposit, cash pick-up, VISA & MasterCard, ATMs, mobile wallet deposit (depending on country)


0% - 2%





Bank deposit, cash pick-up, home delivery, mobile wallet deposit.


0.5% - 2%

$0.00 - $3.99




Bank deposit, debit card payment


0.3% - 1.5%





Bank deposit, debit/credit card


0% - 2.2%





Bank deposit, debit card, credit card, Paysend Wallet


0.2% - 5%





Bank deposit







Bank deposit, debit/credit card


0.4% - 1.6%





Bank deposit







Bank deposit


0.1% - 1.0%

£0 - £15


Monito: The Go-To Money Transfer Comparison Engine

Regardless of whether security, price, service quality, or customer satisfaction is the most important factor when looking for a money transfer service, there are plenty of companies to compare to find the best deal to suit customer needs.

On Monito's award-winning comparison engine, customers are not only able to compare money transfer services by the cost, but they are also able to rank and select money transfer services by their Monito Score, aspects of their service (e.g. pay-in and pay-out methods), transfer time, and transfer details.

International money transfer companies often specialise in a geographic area or country. This is one big factor behind why rates vary widely depending on country of origin and the recipient's country. Have a look at our recommendations (with data from January 2023 to December 2023) for a few of the more popular country corridors by clicking the sections below:

Naturally, we recommend customers double-check the best rates since they change frequently. To get started, simply run a search on Monito's comparison engine and find the best service in real time:

Find the best fees & exchange rates:

FAQ About the Best Money Transfer Services

Why You Can Trust Monito

Our recommendations are built on rock-solid experience.

  • We've reviewed 50+ money transfer providers
  • We've made 100+ test transfers
  • Our writers have been testing providers since 2013
Learn more about us

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn More About Monito
  • Monito is trusted by 15+ million users across the globe.

  • Monito's experts spend hours researching and testing services so that you don't have to.

  • Our recommendations are always unbiased and independent.

Global Impact Finance Ltd
Rue du Pont 22
1003 Lausanne

Affiliate Disclosure
Instead of banner ads and paywalls, Monito makes money through affiliate links to the various payment service providers featured on our website. While we work hard to scout the market for the best deals, we're unable to consider every possible product available to you. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. However, while some links on Monito may indeed earn us a commission, this fact never impacts the independence and integrity of our opinions, recommendations, and evaluations.