Switcha's top picks

TorFX Currency Transfer

Transfer fees
£0
Transfer funds
Online & by phone
Transfer options
Same day & regular payment facility

Free transfers on all transactions with excellent rates of exchange. TorFX is FCA Authorised with D&B "Rating 1" highest level of creditworthiness.

Let's go

All Travel

OFX International Money Transfer

Transfer fees
£0
Transfer Funds
Online & by phone
Transfer options
Same day & regular payment facility
Get Bank beating rates on global money transfers. Save up to 70% on the rates banks charge with OFX.
Let's go

TorFX Currency Transfer

Transfer fees
£0
Transfer funds
Online & by phone
Transfer options
Same day & regular payment facility

Free transfers on all transactions with excellent rates of exchange. TorFX is FCA Authorised with D&B "Rating 1" highest level of creditworthiness.

Let's go

Telegraph Financial Services International Money Transfers

Transfer fees
£10
Transfer via
Online or by phone
Transfer choice
Same day and regular payment facility

There is no cost or obligation to register for an account. Following registration, Telegraph readers receive their first transfer for free, and subsequent fees range from just £4 online and up to £10 over the phone. High street banks charge an average of £30 to £40 per transaction, meaning the difference could add up to hundreds of pounds if you make regular payments throughout the year.

Let's go

Virgin Money International Money Transfer

Transfer fees
£0
Transfer via
Online or by phone
Transfer choice
Same day & regular payment facility

Virgin Money guarantees to beat the exchange rate of other banks: Simply register with Virgin Money and request a quote within 3 hours of getting another bank's quote. No fees: They don’t charge any transfer fees. Fastest available international transfers: Usually same-day for certain currencies like euros, US dollars and sterling. Quick and easy to sign up: Register online or over the phone in a matter of minutes. Award-winning service: Knowledgeable and friendly dealers on hand if you need any help. The minimum transfer value is £1,000.

Let's go

FC Exchange Currency Transfer

Transfer fees
£0
Transfer funds
Online & by phone
Transfer options
Same day & regular payment facility

Dedicated account manager to guide you through the transfer process. Great exchange rates and no fees when you transfer over £3,000

Let's go

Moneycorp Money Transfer

Transfer fees
£0
Transfer funds
Online & by phone
Transfer options
Same day & regular payment facility

Bulk currency trading and cash services used by banks and other financial service providers. Retail bureaux de change at, Gatwick, Stansted, Bristol, Southend and Southampton airports, and across Central London.

Let's go

Post Office International Payments

Transfer fees
£0
Transfer via
Online or by phone
Transfer choice
Same day & regular payment facility

Arrange an international transfer via your online account using your desktop, mobile or tablet. For transfers over £20,000 you can also speak to the Post Office dedicated customer service team. Payments can be made using a UK registered credit or debit card or via bank transfer. You can set regular payments so that they take place weekly, monthly or any period that suits you. Fix the exchange rate for up to 12 months and you could save yourself money if the pound gets weaker in that time. Using the International Payments service could also help you manage your budget as you’ll also know exactly how much you’ll be paying each time you transfer money.

Let's go

Finding the best international money transfer

Transferring money from the UK to another country can be done in other ways, rather than through your bank. By using an international money transfer company, you can either get the rate offered at the moment you decide to make a transfer (spot contact) or fix a rate but arrange the transfer at a later date (forward contacts). The latter tends to give you less attractive rates, but there are more transfer options to choose from. 

The amount you’re charged depends on the provider you choose, and how you want to send the money. To find the best transfer deal for you, you should be mindful of the transfer fee applied and the exchange rate. 

Some money transfer companies offer better rates if you transfer a larger amount of money so it’s worth investigating how they determine their fee structure. If a company states that they won’t charge you for an international transfer, they will probably offer you a lower exchange rate to cover their costs (such as their commission and the transfer fee). Your quote will be based on the amount you want to transfer, the exchange rate for the foreign currency and any fees for sending your money abroad. 

You could save money by using a money transfer company because most won’t charge you to transfer your money abroad. On the other hand, most banks will charge you.

FAQs about money transfers

Can I transfer money to any country?

Q

How much does an international money transfer cost?

Q

What fees will I have to pay?

Q

Why do transfer companies offer different exchange rates?

Q

Can I agree an exchange rate now and send my money later?

Q

How much can I send?

Q

How long does an international money transfer take?

Q

What type of account can I make the money transfer from?

Q

Is it better to use an international transfer company than using a bank?

Q

Are international money transfers regulated?

Q

Related articles

Have you missed a British Airways flight lately?

Have you missed a British Airways flight lately? I was able to claim back £64.50 in 60 seconds. It is a little known fact that you are able to claim all of the tax back if you have misse...

image
Nathan Cafearo
View article

Talk about a Revolut-ion

Personal finance is an area that is gaining increasing amounts of publicity, with numerous apps being developed to make responsible spending easier and less restrictive. Chief amongst the innovativ...

image
Amy Buxton
View article

Holiday money and spending abroad: what you need to know

It might seem progressive that you can choose to pay bills and withdraw money in your home currency, but you would be walking into a tourist trap if you do. When it comes to withdrawing money o...

image
Nathan Cafearo
View article