Let’s assume you are looking to make an international money transfer. You already know how much you want to send and the country you wish to send it to. But did you know that the country you are sending money from can have an impact on the speed and cost of your money transfer?
Some currency pairs are more volatile than others, and economic regulations between different countries may vary. Countries may have different fee structures and regulations when it comes to money transfers, while others may have special relationships with one another, causing some transfer routes to be faster and easier than others.
No matter where you're sending money from, or where you're sending it to, our real-time comparison tool will help you find the best available deals on the market. To help you find out how your money transfer route might affect your transfer, we’ve put together guides on some of the world’s most popular money transfer routes.
Contents
Here, we’ve compiled a list of our guides for the most popular money transfer routes in the world. Click the links to find out more.
Transfer Money from Australia to UK
Transfer Money from Saudi Arabia to India
Transfer Money from United Arab Emirates to UK
Transfer Money from Australia to USA
Transfer Money from Kuwait to India
Transfer Money from Canada to UK
As we talk about in our destinations guide, foreign countries can have their own regulations, taxes, maximum limits and stipulations surrounding how much money can be transferred. Some countries, for example, may have maximum limits for transfers, over which money may be taxed or an additional fee taken.
Depending on your money transfer route (where you are sending from/to), you might be more limited in your choice of which money transfer companies are able to handle your transaction. This means you need to compare options carefully to ensure you are getting the best possible money transfer deal.
Another issue, which we’ve covered in more detail in our larger money transfer guide, is currency volatility. If a country’s economy is struggling or if it is suffering high levels of inflation, then the value of its currency will suffer. This means that the exchange rate will be different, which will ultimately affect how much the recipient of an international money transfer will receive.
If a currency goes up or down in either the sending or the recipient country, that will affect the mid-market exchange rate, which will in turn affect the amount your recipient would receive when sending money abroad.
It can be daunting to entrust money to someone who isn’t your bank. However, sending money via a money transfer company should be completely safe as long as they are authorised by the relevant finance authority in the country you are sending from (for example, in the UK this would be the Financial Conduct Authority).
If you are looking to transfer money abroad and want to take the risk on yourself, rather than relying on money to be transferred safely through to a foreign account, some operators give you a prepaid card that allows you to spend your money in the local currency while you are abroad.
Money transfer companies tend to be a faster option than banks when sending money abroad. This is because when you submit a wire transfer request through your bank, it uses the worldwide SWIFT network to send your money. This usually means it passes through one or more correspondent banks on its journey, all of which have their own fraud and compliance checks to carry out which delay the payments.
Money transfer companies, meanwhile, are able to circumnavigate this system and send money to their own accounts abroad directly. But the transfer speed will still vary depending on the specific operator, the country you are sending to/from and the amount of money you are sending.
It’s now easier than ever to set up an international money transfer, either online or via mobile apps that accept multiple payment methods. However, it can be time-consuming to compare transfer speeds across money transfer companies alone. That’s where FXcompared’s money transfer comparison tool comes in handy.
Below you will find links to our most popular currency pair pages. We provide guidance on all areas relating to money transfer such as property, moving abroad, studying abroad and trading internationally.
| Transfer Money From Brazil to UK | Transfer Money From Colombia to USA | Transfer Money From Mexico to USA | |||||
| Transfer Money From Brazil to USA | |||||||
Currency Volatility Tool - assess the impact of currency risk
Currency Analysis Tool - conduct an audit of historical transactions
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.