Finding the Cheapest Provider To Send Money Abroad

Monito's comparison engine can help you find the cheapest, best rated or fastest provider to send money to almost any country.

You'll find the list of all the countries for which we can provide information on this page.

International Money Transfers to Asia

As the most populated continent by far, Asian countries are among the biggest recipient of international money transfers. India, China and the Philippines are the top 3 recipient countries of remittances (international money transfers).

Some countries in Central Asia are among the most reliant on remittances, which represents, for example, more than 30% of Kyrgyzstan's GDP.

Financial inclusion is rising very quickly in Asia. The range of options to send money to most Asian countries is very diverse, from bank accounts pay-out to mobile-phone top-up or even home-delivery cash transfers.

International Money Transfers to Africa

The African diaspora sends a significant amount to their home country each year. Those money transfers play an essential role in the continent's development and are often a substantial source of foreign-exchange earnings.

The biggest recipient of remittances in Africa is Nigeria, followed by Sudan, Kenya, Senegal and South Africa.

The majority of money transfers to Africa are still cash-based. Still, the rise of mobile money in many African countries and the increasing availability of online money transfers deserving Africa from Europe and North America make it easier for many to save on their transfers to Africa.

International Money Transfer to the Americas

The most significant international money transfer corridor globally is between the United States and Mexico, with more than USD 25 billion transferred each year between the two countries.

The big receiver of remittances in Latin America and the Caribbean include Brazil and Chile, and it's also worth noting smaller countries rely heavily on money transfers from abroad, like El Salvador, Honduras or Haiti.

Northern America is, of course, a big "sending" region of the world. Still, due to their very international population, many people also need to send money to the United States and Canada.

International Money Transfers to Europe

There are important cross-currency money transfer flows from, to and between European countries.

Germany, the United Kingdom and France are at the centre of many of these flows. The European country with the biggest diaspora around the world is Poland, which is therefore also a very big recipient country.

Overseas Money Transfers to Oceania

As the biggest economies in the region, Australia and, to a lesser extent New Zealand are the biggest receiver of international money transfers. Overseas money transfers from Australia totalled USD 16 billion in 2016, with the most significant beneficiaries from these transfers being China, India, Vietnam and the Philippines.

The Way Forward Is Reducing the Cost of International Money Transfers

Every day, millions of people worldwide are sending money to another country, be it to support their families regularly, move their savings with them when they move abroad, or purchase a property abroad.

The World Bank estimates that more than 200 million migrants send money to their parents, husband, wife, children, supporting the livelihood of more than 700 million people worldwide, 10% of the world's population!

But because most people still use expensive banks or money transfer providers to make their transfers, an estimated 28 billion USD is lost each year in bad exchange rates and transfer fees.

Monito's mission is to help everyone sending money abroad find the cheapest. We do that by comparing the fees and exchange rates of money transfer providers in real-time and reviewing their services to bring transparency to the money transfer market and help you make the right choice for your next transfer.