Best Ways to Send Money Internationally (Without High Fees)

4 minute read

By Lucas Johnson

Best Ways to Send Money Internationally (Without High Fees)Shuttesrstock: Thx4Stock team

Whether you’re supporting family overseas, paying remote freelancers, or managing business expenses across borders, sending money internationally shouldn’t mean giving up a chunk of your cash in fees. But with so many options—each with their own exchange rates, delivery times, and fine print—it can be hard to know which service actually offers the best deal.

Discover some of the major players – PayPal, Wise (formerly TransferWise), Remitly, and traditional bank wire transfers—on the key factors that matter most: cost, speed, and reliability. Here’s how they stack up so you can send money abroad with more confidence—and less cost.

Wise: Best for Transparent, Low-Cost Transfers

Best for: Personal and business transfers with real exchange rates
Cost: Low fees + mid-market exchange rate
Speed: 1–3 business days (often faster)
Reliability: High—regulated in multiple countries, widely trusted

Wise is one of the most popular and cost-effective ways to send money internationally, especially if you care about transparent pricing. Unlike banks or PayPal, Wise uses the real mid-market exchange rate (no hidden markup) and charges a clearly disclosed flat fee based on the amount and destination.

It supports over 70 countries and offers both personal and business accounts, with the added bonus of local account details for freelancers or expats. Transfers are fast, often arriving within hours, and the platform’s interface is simple and easy to use.

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Remitly: Best for Speed and Cash Pickups

Best for: Sending to family or friends with fast delivery and local pickup
Cost: Moderate fees (varies by delivery method)
Speed: As fast as minutes (with express delivery)
Reliability: High—well-reviewed for transfers to Latin America, Asia, and Africa

Remitly is designed with personal remittances in mind. If you’re sending money to family or friends in another country—especially where recipients may not have a bank account—Remitly offers flexible delivery options including cash pickup, mobile wallets, and bank deposit.

Fees vary depending on how fast you want the money to arrive. Express transfers (funded with a debit or credit card) arrive almost instantly but cost more, while economy transfers (using a linked bank account) are slower but cheaper. The interface is user-friendly, and recipients can pick up funds at thousands of partner locations.

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PayPal/Xoom: Best for Convenience

Best for: Occasional transfers between PayPal users or to bank accounts
Cost: Higher fees and marked-up exchange rates
Speed: Within minutes to 1 business day
Reliability: Very high—trusted, widely used brand

PayPal is one of the most recognizable names in digital payments, and its global reach makes it a convenient option—especially if both sender and recipient already use PayPal. Transfers are simple and secure, and recipients can often receive funds instantly.

However, that convenience comes at a cost. PayPal adds a currency conversion margin to its exchange rate (usually 3–4%), and transaction fees vary based on funding method and destination. Its sister service, Xoom, offers faster options and cash pickup in select countries but follows a similar pricing structure.

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Traditional Banks: Best for Large Transfers—If You Can Wait

Best for: Large, one-time international transfers
Cost: High wire transfer fees + poor exchange rates
Speed: 3–5 business days
Reliability: Very high but often slow

Banks offer international wire transfers that are secure and widely accepted, but they’re rarely the best deal. Most banks charge $25–$50 per transfer, and their exchange rates are typically less favorable than fintech services. That means you’re paying both an upfront fee and a hidden cost through the currency markup.

For very large amounts, banks may feel like a safer bet—and in some cases, they’re the only option available. But for everyday international transfers, they’re usually the slowest and most expensive choice.

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Finding the Right Fit for Your Money Transfer

Choosing the best way to send money internationally depends on what matters most to you—speed, cost, or delivery method. If you’re looking for the lowest fees and best exchange rate, Wise is a top pick. If your recipient needs cash fast, Remitly offers speed and flexibility. For those who already use PayPal, convenience may outweigh the higher costs. And for larger, formal transfers, banks still play a role—just be prepared to pay for it.

Whichever route you choose, always compare fees and exchange rates before hitting send. A few minutes of research can save you (and your recipient) a significant amount of money.

Contributor

Lucas Johnson is a passionate writer who explores the nuances of human relationships through his work. His keen observations and relatable anecdotes resonate with readers, making his writing both impactful and enjoyable. Outside of his writing endeavors, Lucas enjoys playing soccer and staying active in his community.