Watch Monito's Video About The Best Money Transfer Services
A Youtube Creator at Monito, Jonny helps you understand all you need to know about hidden fees, exchange rates and the best services to move your money across borders.
A writer at Monito, Byron possesses a keen interest in the intersection of personal finance and technology. A former journalist, he strives to bring complex information to life in a way that can be widely understood and appreciated.
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In this video we will share with you the BEST money transfer services ranked by our Monito score. We'll show you what to look for when sending money abroad and using money transfer services, as well as why you should choose these services and how to avoid hidden fees.
Best Money Transfer Services Video Transcript
If you ever tried to send money from one country to another, then you probably run headfirst into a maze of options. There are quite literally hundreds of money transfer services to choose from, and it can feel very overwhelming, especially because every provider brand themselves is cheap and fast and easy to use.
That's why in this video, we're going to look at the best money transfer services ranked by our Monito score. This score considers fees in exchange rates, customer service and satisfaction, as well as trust and credibility. Meaning by the end of this video, you will have a greater understanding of which money transfer providers are best for you.
You see, when it comes to sending money abroad, there are few things that you need to figure out before any money leaves your wallet. And this is really important because if you're not careful the amount of money the recipient receives, so the person you're sending money to may be a lot less than the original amount you sent.
Those three things you need to figure out are which providers will be available for your transfer. And this can be influenced by the amount you're transferring or which currencies you're using. Number two is what are the total fees for the transfer, including any sneaky hidden fees.
And finally, which of the providers are actually any good? And can you trust them with your hard earned money? Because unfortunately, some providers will hide fees in the exchange rate they offer you, meaning they get to pocket far more of your money than is necessary and the recipient will receive a lot less than is fair.
But don't worry, with Monito’s comparison engine, you can find out in real time what the best, most trustworthy and cheapest available service is based on the amount you're sending and where to. The brains behind our comparison engine is something that I mentioned earlier called the Monito score.
Our team of experts have tested all providers, read hundreds of customer reviews. We've scoured through the internet to find news of technical screw ups or security lapses and considered millions of pricing results from our comparison engine. This is all to help you understand what is the best service right now for your money transfer needs.
First up, we have Wise, formally TransferWise and an excellent money transfer service, which received a 9.5 and one we firmly recommend. Wise offers you security and transparency that's almost incomparable to other providers, as well as a high quality service and a wide range of easy to use features.
The fees and exchange rates are some of the best available, and their customer satisfaction is extremely high. It's clear that they're a well-liked service and are a worthy choice when it comes to sending money internationally. Next up, we have TransferGo.
Like Wise, TransferGo scored highest on all dimensions of our Monito score. They're an excellent money transfer service with fantastic credibility. They're fully transparent and trustworthy and put extra effort into helping customers understand fees and exchange rates. TransferGo is also really easy to navigate.
The customer service is quick and easy to locate and as a result, they are loved by their customers and have fantastic customer satisfaction. Finally, we have Remitly, an excellent money transfer provider that comes highly recommended by our experts at Monito. Serving over 3 million customers all over the world, Remitly are trusted, highly credible and very well rated by their customers.
But where Remitly really excels is in its fees and exchange rates. We found that Remitly was the cheapest option in 60% of Monito searches for sending money abroad for a bank transfer and 80% for cash transfers. So if your biggest priority is finding the cheapest option for your money transfer needs, then Remitly might just be right for you.
But with that in mind, no money transfer service, not even these three are always guaranteed to be the cheapest or even available. So to make sure you're getting the best deal and not ripped off by hidden fees, click the link in the description box below and head on over to Monito dot com.
You don't need to enter any personal details. It would cost you anything, and it might just save you a bit of money. If you have any questions about today's video feel free to ask me in the comments. Also, if you enjoyed the video, just hit the subscribe button over here and make sure to check out this recent video just here, I think you'll like it. I'll see you in the next video. Goodbye.
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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.
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.