The importance of money transfer services reviews

Money transfer services are numerous on the market and it can be difficult to know which one to use for a specific transfer. Here is a quick overview of money transfer services reviews with the pros and cons and the most famous services.

Money transfer services reviews

We often hear about the importance of choosing money transfer services by comparing the prices their offer. But one thing is very important too: is this operator easy to use? and does it provide a good service? There is no such thing than the customers’ reviews of a company because customers know everything. A good source to trust is Trustpilot. If you have some doubts about a company you can go on Trustpilot to see all the reviews on this company.

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Money transfer services: pros and cons

Here are reviews of the most well-known money transfer services: Western Union, MoneyGram, Ria money transfer and Transferwise.

Western Union is the biggest money transfer service existing on the market. It has more than 50% of the market. Western union is present almost everywhere and it allows to do cash-to-cash transfer because there are agencies in almost every countries. The con is the fees are not so cheap. They began to develop online solutions which are cheaper.

MoneyGram is the second biggest operator. It’s kind of the ame of Western Union: agencies everywhere to do cash-to-cash transfer. Allow to do online transfer but only from the United States.

Ria money transfer is the third biggest operator on the market. It provides good rates for some countries and try to develop online solutions too.

Transferwise is a new money transfer service. They develop the peer-to-peer technology which is revolutionary in the money transfer world. Even if it represents a small part of the market the company began to be famous and it offers good rates.

What are the best money transfer services?

Finding the best money transfer services is not an easy task. I went through this a couple of months ago as I started a new expat life in the USA. I needed to send money back to France to pay back my student loan, on a monthly basis. I’m happy to share with you my experiences of testing banks, online operators and all the things that let me to find the best service according to my needs.

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Search for the best money transfer services

You basically have three options here. The easiest one being to use your bank. As an expat I guess you’ve kept a bank account in your home country (we are all planning to come back at some point, aren’t we?) and obviously opened one in the country where you are now living to receive your salary and for your everyday life. One thing you should be aware of is that using your bank is probably the most expensive solution you could opt for!

What happens when you send money with your bank? You end up paying a fixed fee, a variable one (depending on the amount sent) and hidden ones. Hidden fees can be found in the exchange rate that is applied at the moment of your transfer: it is poorer than the real one, almost all the time!

Another that might tempt you is to go for the worldwide leader Western Union. I cannot blame you for that. Especially because they are very good at marketing! I remember seeing an ad last year about Christmas offer that said: “$5 fees for $50 sent”. euuu how is this supposed to be a special offer? 10% fee does not look attractive AT ALL to me! But you know, they used a Christmas tree and everybody is nice when Christmas is coming..

Last but not least: online operators. You should definitely go for them. They take between 2 to 5% fees, the cheapest you can find today. The only problem is that none of them is operating on a global scale so there is no big leader that I could send you to. You need to do some research and find the best one covering  your countries.

How to choose the best money transfer services?

You probably do not have time to compare all the operators to find the best money transfer services but there is a platform that did the job for you. It is called Moneytis and it only takes you 3 clicks to get a comparison of all the operators between 2 countries and for a given currency. Thanks to them I’ve found the best money transfer services and I keep on returning on the platform as depending on the exhcange rates the best one varies.

Online money transfer services

The first place people go when they have to transfer money abroad is to their bank. A few use an money transfer service. However according to the World Bank more than 300 online money transfer services exist. Here is an exhaustive list of them.

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Online money transfer services

Real Transfer
MoneyGram
Money2anywhere
Western Union
WorldRemit
Transferwise
Orbit Remit
Money Chain Foreign Exchange
Ceylon Exchange
Ria
SUPAY
Aussie Forex & Finance
KlickEx Pacific
mHITs Remit
IMEX Money Transfer
Xpress Money
GMT Money
InstaReM
money2India (ICICI Bank)
Foreign Exchange Central
Remit2India
Trans-Fast Worldwide Money Transfer
Fast Remit
TSS Worldwide Money Transfer
FLASHremit
PFG Money
Citilink Finance
EZ Money Express
Kangaroo Service
Sydney Forex Pty Ltd
Bux.com
BM Express
Triple 8 Remittance Services
J&J Express
I-Remit to the Philippines
Forex Australia
iRemit
Jalandoni Money Changer and Remittances
LBC Express
Hai Ha Money Transfer
Peramax
PFG Smart Credit
KlickEx
Dahabshiil
Kapruka
Vina Money Transfer
Universal Money Transfer
exchange4free.com
Azimo
Xendpay
TransferGo
Lulu Exchange
UAE Exchange
Ezremit
SBI Express
BIIECO
Bahrain Financing Company
La Poste via Western Union
Atena Money Transfert
MoneyTrans
Small World FS-LCC
Sigue Money Transfers
B&T Associados Corretora de Cambio
OM Distribuidora de Titulos e valores Mobiliarios
Money Express
MoneyTT
CAM
Unitransfer
ZipZap
Remit2India.com
RemitGuru
AGR Money Transfer
Rapid Remittance
Trans-Fast
Habib Express
Dollar Links
Remitty Money Transfer
Metro Remittance
Reliable Peso Remit
Thisal Financial
LeGoiTienLe
MORE Money Transfer
Afex
Argenper
Giros Hispanas
Teledolar
Orange Money
Moneypolo
Unistream
Caribe Express
Girosol
La Poste
Flouss
Moneyglobe
Small World
Postbank via Western Union
Universal Money Transfer Gmbh
Skrill
IME (International Money Express)
GMT Money Transfer
Poste Italiane via MoneyGram
Unicredit Banca via Western Union
Valutrans
NEC
Extrabanca
Banca Intesa SanPaolo via Western Union
I-transfer
Smith & Smith
SBI remit
Brastel Remit
NTT Docomo
GoRemit
Kyodai
Queen Bee Capital
JRF
JME
CTRemit
DCOM Money Express
SMTJ
LBC Remit
Abu Skeikha Exchange
Alaweneh Exchange
ABC Bank
Aman Exchange
Al Muzaini Exchange
Bahrain Exchange Company
Al Mulla Exchange
Kuwait India International Exchange
CBL Money Transfer
NBL Money Transfer
Prabhu Money Transfer
Agrani Remittance House
Doowit
E-remit
Merchantrade Money Transfer
KL Remit Xchange
Mandiri International Remittance
EZ Money
Rabobank
Unity Monetary Services BV
Suri-Change
Amal Express
Kaah Express
NZ Forex
Kiwibank
TSB
moneytransfer.co.nz
Lotus Foreign Exchange Ltd
EcoRemit
Relianz Forex
iPadala
LM Money Transfer
Pacific Ezy Money Transfer
Frankie Money Transfer
Samoa Finance Money Transfer
Lulu Now
Asia Express Exchange
Musandam Exchange
Mustafa Sultan Exchange Co
UBL Tezraftaar Cash
Al Fardan Exchange
OMM
Lari
Al Dar Exchange
Eastern Exchange Co
Arabian Exchange Company
Speed Remit
NBL Remit
RBB Remit Online
City Exchange Company
Habib Qatar International Exchange
Blizko
Interexpress
Anelik
Contact
Leader
Zolotaya Korona
Zolotaya Korona (retail)
Leader Leomoney
Leader alfa-click
MTN
Tigo
Use Remit
Express Money
TeleMoney
Al Zamil Exchange
Saudi American Bank (SAMBA)
Enjaz Easy
Al Amoudi Exchange
Ameer Tech Remittance
Agrani Exchange House (Agrani Bank)
Ameer Tech Remittance (MoneyGram)
Brunphil (MoneyGram)
Singtel mRemit
GPL Remittance
Zhongguo Remittance
Golden Dragon
BKK Forex
A-Express Remit
Brunphil Express
Pay2Home Remittance
Haratan Servicing
All Best Enterprise
Mass Express
Mong Lee Enterprise
JC Money Change
Raffles Money Change
Pinoy Express
Kabayan Remittance
I-send
Sir Money Changer
East Asia Forex
Remitco
Thaithanawat
Esary Trading PTE, Ltd
Nai Nguan Remittance Service
Thai Mail & Parcel Service
First National Bank of South Africa
Hello-Paisa
Mukuru
Mama Money
Maccorp Exact Change
Santander Envíos
BBVA Dinero Express
Money Exchange
Telegiros
Exact Change
Iftin Express
Amaana Express
Tawakal Express
Juba Express
Swiss Post
M-Pesa
SpeedSend
PTT-UPT
PTT-Western Union
GCC Exchange
Al Ansari
Wall St Exchange
Emirates International Exchange
Al Halia
Sangerwal Money Transfer
Parwaz Money Exchange
Lebara
BA Exchange
IFIC Money Transfer
Saajan Worldwide Money Transfer
AN Express
Speedfast
Trans-fast (Imporium Brazil)
YaYeh Instant Services
First African Remittances
PayAfrique.com
Unity Link
Samba Money Transfers
Jamaica National
Equity Direct
Lyca
MB Transfers
Opal Transfer
Kantipur Services
Moneyline UK
Double Crown International
Multi Money Transfer
Sami Swoi
Tonio
Intelexpress
Kanson Services
Mustaqbal Express
Easy Exchange
Tranzfers.com
ExpressLinks UK
1st Contact Forex
Global Exchange Ltd
FastCash
Kapook
Sonali Exchange Company
Klinnk
Placid Express
ShareMoney
Viamericas
Xoom
Vigo
Quisqueyana
Envios de Valores La Nacional
Casa de cambio Delgado
Uniteller
Remesas Pujols
BHD Remesas Dominicana
Cibao
La Nacional
Alante Financial
Al-Mustaqbal Express
Dahabshil
Transfast
Banrural Corp.
Ficohsa Express
Dolex Dollar Express
Orlandi Valuta
Muncha
Thamel Remit
Envios 22-24
PakRemit
Uno Money Transfer (Omnex Group)
Remitly
M.Lhuillier Financial Services
Lucky Money

How to decide which money transfer service to use

With a list of more than 300 money transfer services it can be hard to decide which one to use because you have first to know which ones provide the currency route you need and then to know which ones offer the best rates. For these reasons some comparison platforms appeared in the recent years in order to know all that information.