Swiss Made

Independent review of 301 money transfer operators and banks

The money transfer search engine

All you need to know before sending money abroad

Expert review

Customer reviews

How it works


Exchange rate and fees

Frequently Asked Questions

Our latest video reviews

Spotlight of the month

Azimo offers a digital alternative to traditional cash-based money transfer operators to send money abroad. Azimo’s sleek website, Android and iOS mobile apps allow you to send money conveniently from anywhere and at any time.

Read detailed review

Speed of transfer
Service / Coverage
User experience

Blog posts

Interview with Azimo's co-founder Marta Krupinska

In this article, Marta tells us more about Azimo's history (a company founded by migrants for migrant), strategy and services. 

How to ensure your security when you send money abroad

Discover TransferGo's tips and approach to stay safe when you choose an international money transfer operator. 

TransferWise - Are they that cheap or is it just (innacurate) advertising?

All the data we collected in our independent research shows that TransferWise was on average 83% cheaper than the big four UK banks.


Money transfer operators review - Scoring criteria

Why we review money transfer operators

When you send money abroad, the cost and the speed of your transfer are definitely very important. That's why we built a powerful comparison engine! However, you should also consider more than just the cost and the speed. Here's an example why:

You've found a cheap service which is very easy to use but it's brand new and hasn't build up a great credibility yet. Would you rather use a slightly more expensive but well-known, even if the process of transferring money is cumbersome and takes some time?

There isn't a definite answer to this question, it depends on you, your needs, and how much you weigh the different criteria. To help you in this process, we at Monito have compiled all this information and standardized our criteria to help you compare different money transfer operators at once and make your own opinion.

How we review money transfer operators

Of course, choosing which criteria to take into account, defining their relative importance to calculate our Overall Score, and rating money transfer operators based on these criteria is a subjective process. Below, you'll find our list of criteria and how we attribute a score from 0 to 10 for each service we review, as well as the weight each criteria has in our overall score.

Pricing (weight 20%)

To determine the pricing score, we look at the average cost (in %) for a few different send amounts and destination countries. Money transfer operators will usually have many different types of services, each with varying costs (which is why should always compare the different services based on your individual needs). In these cases, we look at the most commonly used services which best represent the operator’s offering.

Speed of transfer (weight 20%)

We look at how fast most transfers arrive at their destination and grade accordingly: 10 if the money is instantly paid out, 0 if the transfer takes more than a week. The speed usually depends on the destination country and the pay-in/pay-out methods used, so here again we consider the combinations which best represent the operator’s offering.

Credibility and trustworthiness (weight 20%)

In order to determine the credibility and trustworthiness score for a money transfer operator, we look at several things including:

  • the number of customers they have served and how they rate the service,
  • the volume of transfers the company has processed,
  • the number of employees,
  • how the operator is regulated (which license, granted by whom, etc.),
  • the awards they've received, and
  • how long they’ve been in business.

User experience (weight 20%)

How enjoyable is it to use this money transfer service? In order to answer this question, we look at:

  • the overall quality of the service on desktop and mobile (mobile website and/or mobile apps),
  • the process of setting up an account (including the documentation you need to provide) and making a transaction,
  • the number of different languages the service is translated in, and
  • the quality of the customer support

Service and Coverage (weight 10%)

This criterion gives you an idea of the range of services offered by a money transfer operator and their coverage.

Pay-in/pay-out methods: does the company offer a wide range of ways to pay (bank transfer, debit and credit card, sofort banking, etc.) and receive money (cash pickup, bank transfer, mobile wallet, cash home delivery, etc.)?

Coverage : does the company operate in a single market (e.g. only between the UK and India) or does it have a continental or global coverage?

Additional services : does the company only provide you with a basic money transfer service for consumers, or can they offer more complex products (e.g. to regularly transfer money, protect oneself against exchange rate movements, make business payments, etc.)?

Transparency (weight 10%)

While it's straightforward to understand why the other criteria are important to make your decision if a money transfer operator is right for you, why should you care about how transparent a service is? First of all, you should have the right to know how much you will be paying for a service, including foreign currency exchange rate margins. But it's also our collective responsibility, including yours as an informed consumer, to push for greater transparency in the industry to have money transfer operators clearly indicate all the costs to their customers before each transfer, and to stop using misleading advertising tactics. We believe that by scoring money transfer operators on their transparency, and with your help, we can give them the right incentives to change their practices.