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Monito is a comparison website for international money transfer services.

We compare and review more than 350 money transfer operators, to help you find the best option for each of your international transaction.

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Save money by sending at the right time, with the right provider.

Find the Fastest Way to Send Money Abroad

Have you ever sent money and wondered why it moves at a snail pace? Discover everything you need to know to avoid slow money transfers and move your money in fastest way possible.

    They Need the Money Now Now Now! 🔥

    Sometimes you just need to send money fast. ASAP. Pronto. Immediately. It’s an emergency, there’s a crisis, or something came up and you just couldn’t plan this money transfer in advance nor can you wait for a better exchange rate to come around. Yet sometimes, you send money only to discover it takes ages to reach the recipient and wondered why international wire transfers move at a snail's pace? 🐌

    When you’re looking for the best ways to send money overseas, there are several different areas, including speed, that you’ll need to know about. Finding the right balance between these will help you choose the best currency exchange provider for your needs.

    • Availability — is the money transfer service available in your current country and in the country you want to send money to?
    • Convenience — is signing up for and using the money transfer service simple and easy?
    • Price — are you getting the best currency exchange rates and the lowest fees for transferring your money abroad?
    • Speed — how quickly can you send the money and how long will it take for the beneficiary to receive it?

    It’s the last of these areas, speed, that we're going to explore in this guide. We’ll show you how to find the fastest money transfer providers and share advice on how to make your money transfer even faster.

    We have a useful tool that compares all of your money transfer options side-by-side, including the cost and speed of your currency exchange. Try it now.

    The Main Factors that Affect the Speed of Your Money Transfer 🏎️💨

    Here are the main areas that impact how quickly you will be able to send money to your beneficiary.

    The Countries You are Sending Money Between

    It’s faster to send money between countries that are popular start and end points for money transfers. For example, it will be quicker to send money between the UK and the USA than it will to send money between American Samoa and Bahrain.

    The Money Transfer Provider that You Use

    Different money transfer providers have various processes for receiving, exchanging and depositing money. The efficiency of the money transfer provider will affect how quickly they convert funds and send money to your beneficiary.

    How Your Beneficiary Wants to Receive the Money

    Your beneficiary (the person receiving the money) has a couple of ways to get access to their funds. You can send it to their bank account, where they can then access the money electronically, or withdraw it.

    You can also send money to a money transfer specialist like WorldRemit , Azimo, Xoom, Moneygram or Western Union where they can pick up the money as cash without going through a bank. Some providers will deliver money to your beneficiary’s location, although that will take longer. The method you choose, and the bank that your beneficiary uses can affect how quickly funds will be available.

    How You Pay for the Money Transfer

    You will have several options for funding your currency exchange:

    • Paying by debit or credit card.
    • Paying via bank draft or bank transfer.
    • Paying in cash to a local agent.

    The method you choose will affect how quickly the money transfer provider gets your funds, and the total time taken to provide those funds to your beneficiary.

    Do You Already have an Approved Account with the Money Transfer Provider?

    If you don’t already have an account with a money transfer provider, it will take time to gather the information you need, apply for an account and provide supporting documents.

    The Questions to Ask When You’re Looking for the Fastest Money Transfer Provider 🙋🏾 ❓

    Here are the questions to ask and answer when you want to send your money overseas quickly.

    Are You Getting the Best Rates?

    It’s not just about speed, you also don’t want to overpay to send money internationally. Our comparison tool will show you both the fees and the time it will take for the beneficiary to receive money.

    We recommend using a specialist currency provider rather than your bank or PayPal. Our research shows you can save up to five percent when you use a money transfer provider — this means that for every $1,000 you send, you’ll effectively be sending $50 more if you use a currency exchange specialist.

    Who are You Sending Money to?

    Understand who will be receiving the money — will it be family, friends or a business? Depending on who you are sending money to, it might take time for them to actually receive and process funds, especially if you’re sending to a medium or large business.

    How Quickly Does the Beneficiary Need the Money?

    Talk to the person you’re sending money to and find out how fast they need the funds. Work back from their due date to find out when you need to start the currency exchange process.

    How do You want to Pay for the Money Transfer?

    The quickest way to pay for a transfer is probably with a debit or credit card, followed by cash paid to a local agent, followed by a bank draft. Look at your options to pay for the transfer, and include those in your speed calculations. Take into account whether you will be paying from a desktop, laptop, mobile device or in cash.

    How does the Beneficiary want to Receive the Money?

    Talk to the person you’re sending money to so you can understand how they want to receive the funds. Depositing money to certain banks can occasionally take longer than providing the money as a cash pick-up.

    Are You Already Registered with a Money Transfer Provider?

    Registering with a provider and setting up an account takes time. If you’re not already registered, make sure you register a couple of weeks before needing to send money so you can complete all the necessary steps.

    How to Speed Up Your Money Transfers 🏃🏾‍♂️

    Now you understand the factors that can slow down money transfers and have a good idea of the questions you need to ask. It’s time to look at how you can send money overseas as quickly as possible. To speed up transfers, you can:

    • Compare providers in Monito and choose those with the fastest times.
    • Register and sign up for an account before you need it.
    • Use a fast payment method like a debit or credit card.
    • Use the right receipt method for your beneficiary.
    • Make sure you have funds available.
    • Confirm sender and beneficiary details.
    • Choose providers with fast customer service.
    • Use a mobile app to make and track transfers.
    • Avoid banks and PayPal as they are slow and expensive.
    • Read user and Monito reviews of providers.
    • Sign up for Smart Alerts so you’re notified of exchange rate changes.

    We’ll explore each of these below.

    Do an Example Comparison Using the Monito Tool and Choose Providers with the Fastest Times

    Create a sample transfer in the Monito tool. We’ll compare costs, delivery times and other factors across dozens of different providers and let you know how much the fees will be and how quickly they can convert and send funds.

    For example, here’s a comparison of providers for converting $500 to rupees and sending the money to India:


    You can see here that if you’re sending money to a bank account, transfer times can vary between minutes to five days, depending on how you choose to pay for the transfer. We also provide price and speed comparisons if the beneficiary wants to pick up cash from an agent location.

    Advance Planning: Register & Sign Up for an Account with a Provider Before You Need to Use It 👨‍💻

    There are several steps to setting up an account with a specialist money transfer provider.

    1. Apply for an account through their website.
    2. Gather the information you need to provide.
    3. Upload proof of identity and any other supporting documentation.
    4. Wait for the money transfer provider to verify you and approve your account.
    5. Complete your money transfer.

    We recommend setting up an account a couple of weeks before you need to use it. That will give you enough time to get verified before you need to send money. We also recommend setting up two or three accounts with different providers so you have flexibility about getting approved and sending funds.

    You can easily apply for accounts with specialist currency exchange providers by comparing them in our tool and clicking the button to go to their website and apply.

    Use the Right Payment Method

    How you choose to pay for and fund your money transfer can make a big difference to the overall speed. A money transfer provider has to receive cleared funds from you before they will convert the money and send it to the beneficiary.

    • Paying by debit or credit card — these are generally the fastest ways to pay for a transfer. If you don’t have a regular debit or credit card, you may be able to get a prepaid one and use that.
    • Paying by bank transfer — these can take time, as many banks do not transfer funds instantly. Ask your bank how long it takes for transfers to another bank.
    • Paying by cash — you can go to a local agent and pay in cash, this is a fast way to transfer money, but the fees are likely to be higher than if you transfer online.

    The speed of bank transfers can be affected by certain factors. For example, if both your bank and the bank of the money transfer provider are apart of the Faster Payment, SEPA, SOFORT, iDeal or other systems, transfers between them can be quick. Remember that national holidays, the day of the week and bank hours of operation can all impact how long a transfer takes.

    Most of the time, it can take several days for money send by bank transfer to reach the money transfer operator’s bank account. Because of this, we recommend using a credit or debit card to fund any money transfers.

    Use the Right Receipt Method

    The other side of this is how your beneficiary wants to receive their funds. They can choose to have the funds deposited to a bank account, pick up cash from a local agent, or, in some cases, have the money delivered to their home.

    • Some banks will process transfers and provide them to account holders very quickly. Your beneficiary should check with their bank how long it will take to make funds available.
    • Cash pick-up is normally instant.
    • Cash delivery can take a few days, depending on where the money is being sent to.

    You will also want to take into account when banks are open, hours of operation, national holidays and other local factors.

    Make Sure You Have Funds Available

    Of course, to send money effectively, you need to have the right amount of funds available. Double-check how much you have and what you can afford to send, Take into account the fees that a money transfer provider will charge you. Ensure that you have cleared funds available for when you want to send money.

    Confirm the Sender and Beneficiary Details

    Make sure you have all the correct details, both for how you’re sending money and how the beneficiary is receiving money. This might include your card details and bank account information. You will also need the beneficiary details like a cash pickup location or their local bank details like account number, routing number / sort code, address etc.

    See the Type of Customer Service that the Provider Offers

    You will want to choose a provider that gives you easy options to get in touch. See if they have a local telephone number or a live chat service that can answer your questions.

    Download Your Money Transfer Provider’s Mobile App

    Most providers have a mobile app you can download to your smart device. This can make it much easier to start a transfer, fund the currency exchange and track progress.Track the Progress of Your Transfer

    The transfer provider’s website or app will let you see how your transfer is progressing, the stage it is at and when the beneficiary can expect to receive the funds.

    Avoid Banks and PayPal as Money Transfer Providers

    You might think it would be easy to transfer money through PayPal or your bank. Unfortunately, these options are rarely the fastest, and they are never the cheapest. Using your bank or PayPal could increase the fees you pay by up to five percent more, and these transfers tend to be slower, especially if you are going across international borders.

    Read User Reviews of the Money Transfer Provider

    It’s sometimes very helpful to get feedback from other users on how easy the provider is to use. We recommend TrustPilot to get a good overview of any money transfer provider.

    Read Our (Monito) Reviews of Providers 🤓

    Here at Monito, we want you to have the right information to make an informed decision. That’s why we independently review all money transfer providers so you can make an informed choice. We have reviewed over 350 providers, and you can find out what we think.

    Sign Up to Get Notified when the Exchange Rate is in Your Favor

    We provide customized alerts so you can find out how the exchange rate is moving, and get notified when it’s best for you to send money. Sign up for our smart alert service.

    🏁That’s it — our complete guide to transferring money as fast as possible. Use this guide the next time you need to exchange currency quickly, and you’ll be able to get funds to your friends, family or elsewhere in no time.

    Got any questions? Please contact us, we’re here to help.