10 Best Money Transfer Companies in Italy

Italy is famous as the land of Vespas, fine wine, and mouth-watering pasta. Its rich history and strong economy make the country a top destination for both tourists and long-term migrants. Naturally, that much commotion comes with a great need for a solid money-moving network.

Whether you’re an expat sending money back home, a tourist needing to wire some emergency funds, or a local business paying international suppliers, having a reliable way to transfer money is as essential as a good cup of cappuccino in the morning.

But what happens when you need to send a chunk of your hard-earned euros abroad, but due to some snag, your funds get stuck in financial limbo? That’s the kind of scenario nobody wants to be in. That’s why using a trusted money transfer service is like buying insurance for your peace of mind.

There’s no need to panic really, because we’ve got you covered. After hours of research and sifting through tons of fine print, we’ve curated a killer list of the 10 best money transfer companies specifically tailored for sending your cash to or from Italy.

Let’s first go through a few important details about the money transfer market in Italy, and then we’ll jump right into their overviews.

Sections

How to Choose the Best Money Transfer Company in Italy

Let’s chat a bit about what makes a money transfer company really shine among the vast competition. What should you be looking for?

Here are the basics:

Fee Structure

We all get that nothing in life is free – especially when it comes to money matters. But that doesn’t mean you should be overcharged either. Some companies use a fixed fee, while others opt for a percentage of the transferred amount. Keep an eye out for hidden fees that might sneak up on you without warning.

Exchange Rates

A seemingly small difference in rates can turn into a hefty sum when you’re transferring large amounts. Some companies mark up exchange rates for profit, so you end up getting less bang for your buck. Do a quick comparison and make sure you’re getting the real deal.

Transfer Speed

As we’re all aware, time is money. Whether it’s an urgent business payment or helping out a friend in trouble, the speed of the transfer can be critical. Some services offer instant or same-day transfers, but might come with a premium price tag. Weigh your options carefully, and if you can wait, maybe go for the slower, more affordable route.

Customer Service

Nobody wants to be left on “read” when they have a question about their own money. Solid customer service that’s as reliable as a Swiss watch is key. Live chats, 24/7 call centers, and even FAQ sections can make your experience smoother and less stressful.

Reliability and Security

You wouldn’t leave your safe unlocked, so why take risks with your bank’s cash? Make sure the company you choose has a stellar track record and top-notch security measures. Look for accreditations, read reviews, and maybe even check out what other users are saying on social media.

Additional Features

Some companies offer extra perks like rate alerts, multi-currency accounts, or even loyalty programs. While not essential, these add-ons can make your money-transfer experience just a bit more splendid.

Now, let’s dive into our curated list of the best money transfer companies for your Italian escapades.

Overview of the Money Transfer Landscape in Italy

Before we dish out the names that are making waves in the Italian money transfer space, let’s set the scene on what the landscape looks like in the country.

Italy isn’t just about delicious pizza and stunning coastal views. It’s also a hub of economic activity and money movement. With a growing number of expats, a buzzing tourism industry, and businesses increasingly going global, the money transfer market there is continuously growing. It’s a market that’s been seeing consistent growth year-over-year, making it an essential part of Italy’s financial ecosystem.

Once upon a time, you had to walk into a bank, take a number, and wait in line for quite a long time. Fast-forward to today, and we get digital technology that has revolutionized how we transfer money.

Mobile apps, online platforms, and even blockchain tech are making the process super easy and lightning-fast. These digital advancements are also super-efficient, reducing transfer times and often cutting costs. So yes, tech is making the money world go round, even in a country that cherishes its traditions.

As for the regulatory environment and customer protection. Italy is like that strict but loving parent – there are rules, but they’re there for your good. The money transfer game in the country falls under the guidelines of the European Union, meaning consumer protection is pretty tight.

Companies have to adhere to stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. Additionally, there’s the Bank of Italy keeping an eagle eye on operations, ensuring that companies play fair and square. So, you can rest easy knowing there’s a robust framework designed to keep your funds safe and secure.

Now that we’ve set the stage with what you should expect from the money transfer environment in Italy, you’re all prepped to explore our handpicked gems in the next section. Let’s dive into our curated list of the 10 best money transfer companies in Italy.

Comparison of the Top 10 Money Transfer Companies in Italy

Key Details

No.	Provider Name	Founded	Trustpilot rating	Countries Covered	Currencies Covered	Transfer Speed	Cash Pickup	Mobile App
1	OFX	1998	4.3	190	55	1-4 days	No	Yes
2	Currencies Direct	1996	4.9	200	70	1-2 hours within Europe; 1-2 days for overseas transfers.	No	Yes
3	Remitly	2011	4.1	180	75	Within minutes (express delivery); 3-5 days (economy delivery).	Yes	Yes
4	Wise	2011	4.3	170	50	0-2 days (within minutes for over 50% of transfers).	No	Yes
5	WorldRemit	2010	4.1	145	70	0-2 days (within minutes in 95% of cases).	Yes	Yes
6	Western Union	1851	3.9	200	130	Within minutes for cash or debit card transfers; 1-3 days for transfers between bank accounts.	Yes	Yes
7	XE	1993	4.3	170	50	1-4 days	Yes	Yes
8	Moneycorp	1979	4.3	190	35	1-2 days	No	Yes
9	Instarem	2014	4.4	60	30	1-2 days	Only for the Philippines	Yes
10	Currency Solutions	2003	4.7	160	40	3 hours-2 days	No	No

Fees, Rates, and Limits

No.	Provider Name	Transfer Fee	Exchange Rate Margin	Minimum Transfer Amount	Maximum Transfer Amount
1	OFX	AU$15.00 under $10,000 (Australia); CAD $15.00 under $10,000 (Canada); HK $60.00 under $50,000 (Hong Kong); NZD $15.00 under $10,000 (New Zealand); No fee for the rest of the world.	0.4% – 1.9% added to the mid-market exchange rate.	$1000 in the US; £100 in the UK; €2 in the EU; $150 in Hong Kong and Singapore; AUD $250 and its currency equivalent in the rest of the world.	No limit
2	Currencies Direct	No fee	0.4% to 1.4% added to the mid-market exchange rate.	£1	£25,000 through the mobile app; £300,000 by placing a special request.
3	Remitly	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	1% – 2.5% added to the mid-market rate on average (can range between 0.5% and 3.7%).	$1	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).
4	Wise	Variable fee – 0.4% – 0.6% of total amount (on average); Fixed fee – £0.2 – £0.3 on average.	No markup is added to the mid-market exchange rate.	£1	$6,000,000 USD; $1.8 million AUD; $1.5 million CAD; €6,000,000 EUR; £5,000,000 GBP.
5	WorldRemit	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.	0.5% – 2.5% added to the mid-market exchange rate (1% – 1.6% on average).	$1	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).
6	Western Union	Based on the sender’s location, transfer amount, and payment method. Usually, there’s a fee that’s as low as $0-$15, but some can be as high as $100 if sending money to an exotic location or paying by credit card.	1% – 5% added to the mid-market exchange rate.	$1	Depending on the sender’s country: $50,000 if identity verified; $3,000 if identity isn’t verified.
7	XE	£2.00 under £250 (UK); €2.00 under €250 (EU); No fee for other sums.	0.2% to 1.4% added to the mid-market exchange rate.	£1	£350,000 (UK and EU); $535,000 (US); CAD $535,000 (Canada); NZD $750,000 (New Zealand).
8	Moneycorp	No fee for online transfers; £15 for transfers over the phone.	Added to the mid-market exchange rate and varies between 1% for large transfers and 2% for small transfers.	£50	£100,000 (or currency equivalent) for online transfers. No limit for transfers over the phone.
9	Instarem	Depends on the selected countries, the transfer amount, and the selected payment method.	0.3% – 0.6% added to the mid-market exchange rate.	$1; ($50 for India)	Depends on the origin country and the selected payment method.
10	Currency Solutions	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.	0.5% – 1% added to the mid-market exchange rate.	£100	No limit for transfers over the phone; Online transfers: £20,000 for personal accounts; £50,000 for business accounts.

Review of the 10 Best Money Transfer Companies in Italy

1. OFX

	Pros	Cons
1.	Broad international service coverage	Limited options for funding transfers
2.	Exceptional mobile app user experience	Transfer fees apply for amounts less than $10,000
3.	Adaptable solutions tailored for businesses	Not ideal for transferring small amounts
4.	Swift money transfers within 1-3 days	Absence of instant custom quote feature
5.	Outstanding customer support
6.	Generous transfer cancellation policy
7.	Comprehensive FAQ resources
8.	Option for setting up exchange rate alerts
9.	Attractive currency exchange rates
10.	Robust currency options

Founded: 1998
Headquarters: Sydney, New South Wales, Australia
Trading Highs: When we talk about OFX, we’re talking about quality and exceptional service. That’s evidently reflected in their trading volume. Managing over $140 billion in global transfers, their pocketbook is looking pretty healthy with a net income of about $100 million and over $60 million in net cash;
Trustpilot Rating: Sitting pretty high with a Trustpilot rating of 4.3 out of 5 stars, OFX is a go-to for corporate and personal clients;
Client Count: While OFX may not be on the top when it comes to client numbers (they serve over a million customers) they definitely attract the big spenders. Their clients are generally into bigger, bolder transactions;
Global Reach: OFX knows what it truly means to go global. With a reach covering over 190 countries and support for 55 currencies, this Aussie-based company is accessible to almost anyone in the world;
Transfer Limits: OFX likes to keep things flexible, so everyone gets different conditions. They have variable minimum transfer limits based on where you’re located, while they put no cap on how much you can send;
Fees and Rates: The company is super convenient for those making transfers over $10,000 as they’re fee-free. If you’re sending less, the fees are minor and depend on your location. As for exchange rates, they add a margin to the mid-market exchange rate, ranging from 0.4% to 1.9%. Compared to most of their competition, this is where they save their customers some serious cash;
How to Send and Receive: OFX doesn’t trouble and confuse their customers with unnecessary options. They only support bank-to-bank transfers, so everyone who appreciates a straightforward approach will find them quite fitting;
Language Support: English speakers, you’re in luck. OFX’s platform and mobile app are only available in English, so, if you’re not fluent, you might need to employ Google Translate to help you navigate around their platform;
Regulatory Approval: For those who like to play it safe, you’ll be thrilled to know that OFX operates under the scrutiny of over 50 global regulatory bodies. We’re talking the FCA, the ASIC and the AUSTRAC, the DIA, FinTRAC, FinCEN, and many more;
Mobile App: If you appreciate a great mobile app, then you’re in luck. OFX’s mobile app has some killer ratings – 4.9/5 stars on the App Store and 4.6/5 on Google Play;
The Trophy Cabinet: OFX is no rookie operation. Their trophy cabinet could rival even their fiercest competitor. They’ve scooped up numerous awards, from the “Best International Money Transfer Provider” to “Outstanding Value in Money Transfers,” among the many others on their shelves;
Customers’ Opinion: Customer reviews paint a pretty picture of OFX – low exchange rate margins, no transfer fees, and top-notch customer service. Of course, no one’s perfect. There have been minor grumbles about occasional delays and paperwork, but overall, the consensus is: OFX is a solid bet that brings a mix of reliability, global reach, and financial muscle to the table. If you’re in the market for a service that can move your money without making you sweat, this could be the best choice for you.

Read our full OFX review.

2. Currencies Direct

currencies direct international money transfer review

	Pros	Cons
1.	Global service coverage for a borderless experience	Some US states aren’t supported
2.	One of the best exchange rates on the market	Deposit options might feel a bit limited
3.	Solutions that accommodate individuals and businesses alike	The web platform and mobile app need improving
4.	Years of experience with dedicated specialists	Mobile app transfers have a tight maximum limit
5.	Swift transfers ranging from 1-2 business days	Instant custom quotes aren’t available
6.	Stay in the know with exchange rate alerts	Exotic currencies coverage is limited
7.	Various payment options	Not suitable for small money transfers
8.	Stellar customer service
9.	Extensive knowledge base for your every query
10.	Zero transfer fees
11.	Scoring high on Trustpilot
12.	Solid currency coverage

Founded: 1996
Headquarters: London, UK
Trading Highs: Currencies Direct is like the Cristiano Ronaldo of currency trading. They score all the right goals in their field of expertise. In 2021 alone, they kicked around a jaw-dropping £9.5 billion across a myriad of currencies;
Trustpilot Rating: If Trustpilot ratings were Michelin stars, Currencies Direct would be that three-star restaurant everyone’s dying to get into. They’re strutting a glorious 4.9 out of 5 stars there. That’s top-shelf stuff in the money-moving industry;
Client Count: In their 27 years on the pitch, they’ve accrued a client base of about 430,000. That’s what we call building a tribe;
Global Reach: Need to send money to rural Peru? Currencies Direct has you covered even for the most remote places. They operate in over 200 countries and territories and support a fabulous array of 70 currencies;
Transfer Limits: Whether you’re looking to send a quick €1 or feeling like a big spender with €25,000, the Currencies Direct app has your back. And if you’ve got a craving to go even bigger, a quick call to your dedicated dealer can take your transfer up to €300,000;
Fees and Rates: They say the best things in life are free, and in this case, it’s true – Currencies Direct charges zero transfer fees. And their exchange rate markup is a modest 0.4% to 1.4% added to the mid-market rate, depending on where and what you’re trading;
How to Send and Receive: Flexibility is the name of the game here. With Currencies Direct, you can fund your transfer via bank account, card, or even a good old check. But remember, the folks on the receiving end will need a bank account. No other receiving options are available;
Language Support: Don’t speak English? No problem! Currencies Direct caters to everyone speaking Italian, English, French, Swedish, Portuguese, Norwegian, Spanish, German, Chinese, and Korean;
Regulatory Approval: Currencies Direct enjoy a reputation of utmost security, and they’ve got the regulatory approvals to prove it. From the UK’s FCA to the USA’s FINCEN, they’re as safe as Fort Knox;
Mobile App: Their app is like a personal finance Swiss Army knife. It’s got an average 3.5-star rating and lets you do everything from basic transfers to tracking your money. It’s available for both Android and iOS devices;
The Trophy Cabinet: The accolades keep coming for these guys. They’ve earned titles like “Consumer Champion of the Year” and the “Money Transfer Provider of the Year” award, proving their place in the industry;
Customers’ Opinion: Trustpilot reviews speak louder than words, and for Currencies Direct, it’s mostly sweet serenades. Users are raving about their hassle-free, top-tier service like it’s the latest summer hit. One thing that a small part of their customers don’t seem to appreciate is the extra documentation required by the company for verification and safety purposes. But that doesn’t stop Currencies Direct from providing excellent services to all of their customers, big or small.

Read our full Currencies Direct review.

3. Remitly

remitly international money transfer review

	Pros	Cons
1.	Fixed transfer fees	No option for instant custom quotes
2.	Extensive global coverage	Not great for large money transfers
3.	Top-tier mobile app	Doesn’t provide dedicated account managers
4.	Instantaneous money transfers	Exchange rates can sometimes be substantial
5.	Plenty of ways to fund your transfer
6.	Decent Trustpilot rating
7.	Deals with a heap of currencies
8.	Worldwide locations for cash pickup
9.	Excellent customer service
10.	No minimum transfer limit when sending
11.	A knowledge base that’s a treasure trove of info

Founded: 2011
Headquarters: Seattle, WA, USA
Trading Highs: If the money transfer world had a booming tech startup scene, Remitly would be its favorite. With $20.4 billion in transfers and a revenue of around $458.6 million in 2021, they’re a testament to fast growth and skillful leadership;
Trustpilot Rating: Boasting a Trustpilot rating of 4.1 from nearly 40k reviews is definitely not a bad look for Remitly. For a company of their size, they’re holding their ground quite well;
Client Count: With over 3 million active customers, Remitly’s reputation is in no danger of being put in jeopardy. They’re in the big leagues, and their fan base is only growing;
Global Reach: Remitly is a global citizen among our money transfer options. Users from 28 countries can fling their funds to over 180 nations, covering a buffet of 75 currencies. That’s how extensive their reach is;
Transfer Limits: Whether you’re in the mood to send a single Australian dollar or eyeing bigger sums, Remitly is in for the game. But keep in mind, the maximum ranges from about $3,000 to £150,000, depending on a range of variables;
Fees and Rates: With fees between $0 to $50 (averaging around $3.00 – $7.00), you always know what you’re getting into with Remitly. Their margin is typically 1% – 2.5% over the mid-market rate, which isn’t the most competitive among their competition, but they make up for it with the rest of their services;
How to Send and Receive: Bank accounts, cards, iDEAL, Klarna – you name it. Remitly is truly flexible when it comes to the choice of transfer methods;
Language Support: You won’t ever feel lost in the translation with Remitly. Boasting a whopping 15 languages on their site (Italian, Korean, Spanish, Portuguese, English, Polish, Dutch, German, Chinese, Turkish, Romanian, Thai, Filipino, French, and Vietnamese) and equally diverse customer support, Remitly’s customers can feel confident their concerns will be promptly addressed;
Regulatory Approval: Top-tier national watchdogs have Remitly on their radar – in a good way. Think the ASIC, the U.S. Department of the Treasury, and the Central Bank of Ireland, just to drop a few names;
Mobile App: Speaking of premium services, Remitly’s app is a top-tier amenity, boasting ratings of 4.8 on Android and 4.9 on iOS. So, whether you’re Team Android or iPhone, you’re in for a treat;
The Trophy Cabinet: Remitly has been turning heads and racking up accolades. They’ve got a few trophies to their name, from being a Forbes FinTech 50 to nabbing the Game Changer Award;
Customers’ Opinion: The online word on Remitly is pretty sweet. The crowd’s buzzing about super-fast transfers and competitive fees that make traditional banks look like a waste of money and time. The intuitive app and no-nonsense pricing are also crowd-pleasers. Still, as with any rising star, there are a few naysayers in the mix, pointing fingers at certain limitations and the odd slowpoke in customer service. At the end of the day, Remitly’s tech-forward approach and expanding global footprint make them a force to be reckoned with.

Read our full Remitly review.

4. Wise

wise international money transfer review

	Pros	Cons
1.	Diverse payment methods encompassing bank accounts, debit and credit cards, PayPal, and more	Challenges with customer service
2.	Outstanding web platform and mobile app experience	Lack of dedicated currency dealers
3.	Impressive currency support (over 50 currencies)	Inadequate for large monetary transfers
4.	Widespread local presence with branches in more than 28 countries	Cash pickups aren’t an option
5.	Highly rated on Trustpilot	No support for lesser-known currencies
6.	Comprehensive global service reach	Less-frequented countries and currencies might incur high transfer fees
7.	Ideal for small transactions
8.	In-depth knowledge repository
9.	No markups on exchange rates
10.	Fast money transfers, with half of all transactions completed in minutes and the rest within 0-2 days
11.	Custom quotes are available without signup

Founded: 2011
Headquarters: London, UK
Trading Highs: Wise, once known as TransferWise, truly is the rockstar of the transfer show. In 2022, they rocked a cool £76.4 billion in transactions, raking in nearly £450 million in revenue. That’s a solid sign they’re doing things the right way;
Trustpilot Rating: With a Trustpilot score of 4.3, Wise is more than holding its own in the review world. In the competitive ring of money transfer services, they’re standing tall and proud;
Client Count: Wise’s reach is nothing short of massive, extending its arms to over 16 million customers in 2022. And that count is on the upswing;
Global Reach: Even if you’re sending your money to Taiwan or Fiji, Wise makes it happen with great ease. With them, you can send those precious funds to over 170 countries and in 50 different currencies;
Transfer Limits: From sending a humble pound to transferring a staggering £5 million GBP or its equivalent in other currencies, Wise has the elasticity to stretch to your needs;
Fees and Rates: Transparent and straightforward – that’s Wise for you. With a variable fee between 0.35% to 3% and a fixed fee ranging from £0.2 to £2, you’re always aware of what the deal is. The biggest highlight are their mid-market rates with zero markups – a real breath of fresh financial air;
How to Send and Receive: Wise has got your bank with bank accounts, cards, Apple Pay, and Google Pay. While recipients get their funds via a Wise account, it’s still a convenient gateway to a world of other Wise users or withdrawal options;
Language Support: Wise’s got a language support of 15 different tongues – Italian, Hungarian, French, Russian, Chinese, German, English, Polish, Japanese, Portuguese, Indonesian, Turkish, Spanish, Ukrainian, and Romanian;
Regulatory Approval: Safe and secure – that’s the Wise mantra. With oversight from powerhouses like the National Bank of Belgium, the FCA, and the FinCEN, you’re in trusted hands with this top-notch money transfer service;
Mobile App: Wise’s mobile app is a dream for both Android and iOS users, with a star-studded rating of 4.7 on both platforms. Transfers, exchange rates, payment setups – it’s all there at your fingertips;
The Trophy Cabinet: The accolades are raining down on Wise. With nods from Glassdoor, a regular spot on the FinTech50 list, and recognition from Fast Company, they’re no strangers to the limelight;
Customers’ Opinion: The love for Wise is palpable. A whopping 91% of reviews are filled with praise, celebrating its seamless transfer experience. But, as with all giants, there are some shadows – 7% negative and 2% neutral reviews, pointing towards issues like documentation, occasional delays, and account deactivations. With that, Wise remains innovative, transparent, and always striving to give customers a better deal. If you’re looking for a service that combines vast global reach with clarity and simplicity, they might just be your perfect match.

Read our full Wise review.

5. WorldRemit

worldremit international money transfer review

	Pros	Cons
1.	Small transaction fees	Numerous criticisms pertaining to customer service
2.	An abundance of payment methods	Not ideal for transferring large sums of money
3.	Comprehensive and informative knowledge base	No personal account managers are available
4.	Strong coverage of over 70 unique currencies	Lacks business solutions like forward contracts and limit orders
5.	Wide local presence with offices in 15 nations
6.	Competitive foreign exchange rates
7.	Cash pickup services are available
8.	Excellent policy for transfer cancellations
9.	Swift funds transfers
10.	Instant, personalized cost estimates
11.	Comprehensive global service availability
12.	Mobile digital wallet features

Founded: Founded: 2010
Headquarters: London, UK
Trading Highs: Making waves in the world of international transfers, WorldRemit oversees a staggering $10 billion annually. That’s not just a big figure, but a busy one, with over 1.5 million transactions happening each month. With a revenue of $399.4 million in 2021, they’re not just shifting money – they’re obviously making it big time;
Trustpilot Rating: With close to 80,000 customer reviews, WorldRemit holds a respectable rating of 4.1 out of 5 on Trustpilot. Those are strong numbers for any major player in the game;
Client Count: The WorldRemit family is ever-growing, currently boasting a whopping 5.7 million members. That’s a lot of trust coming in from the ones that truly count;
Global Reach: Send from over 50 and to more than 145 countries – that’s the WorldRemit way. From the Americas to Africa and between Europe and Australia, their support for over 70 currencies ensures you’re never left wanting;
Transfer Limits: Whether you’re sending just a single dollar or maxing out at $60,000, WorldRemit has the bandwidth for your needs. Limits, of course, do dance to the tunes of the countries and the payment methods involved in the transfer;
Fees and Rates: Affordable and transparent, WorldRemit’s fees range from $0.99 to $3.99. Their average markup ranges between 1% to 1.6% on top of the mid-market exchange rate, making sure you’re never left guessing;
How to Send and Receive: Paying your way via bank, card, or even Apple Pay – WorldRemit makes it all possible. And for those on the receiving end – bank, mobile wallet, cash, or even home delivery are all up for grabs;
Language Support: No matter if you’re saying hello, bonjour, or hola, WorldRemit speaks like a native. Six languages are on the menu to make your experience seamless – English, Dutch, German, Danish, French, and Spanish;
Regulatory Approval: With WorldRemit, it’s always safety first. They’re blessed with approvals from renowned regulatory bodies from the UK to Japan;
Mobile App: Money moves, and so does tech. In that spirit, WorldRemit keeps their app game quite strong – it shines with a 4.6 on Google Play and an impressive 4.7 on the App Store;
The Trophy Cabinet: Awards are no strangers to WorldRemit. Nods from Investopedia, FT, and even the United Nations Agency show they’re in the big leagues;
Customers’ Opinion: The love is strong for WorldRemit. A majority sing praises about its transparency, affordability, and exceptional customer service. However, like any great story, there are challenges – some users point towards slow responses and occasional transfer setbacks. Yet, the overarching sentiment is nothing short of pure satisfaction. So, if you’re after a service that boasts global outreach, commendable user experience, and recognized excellence, WorldRemit could be the map to your money transfer journey.

Read our full WorldRemit review.

6. Western Union

	Pros	Cons
1.	Availability of cash pickup locations	Elevated transaction fees
2.	Robust currency handling	High markups on exchange rates
3.	Beneficial rewards scheme	Not optimal for substantial money transfers
4.	Rapid fund transfers	Absence of hedging options for businesses
5.	Fee and rate prediction tool
6.	Comprehensive information repository
7.	Worldwide service reach
8.	High rating on Trustpilot
9.	An abundant industry experience
10.	Excellent mobile application
11.	Exceptional convenience
12.	Diverse payment methods

Founded: 1851
Headquarters: Denver, CO, United States
Trading Highs: Dominating the world of international money transfers, Western Union’s staggering prowess is evident in their stats: 32 transactions every second, culminating in a yearly trading volume exceeding $300 billion. This colossal achievement gives them a dominant 20% of the global market, affirming their position as the world’s leading money transfer powerhouse;
Trustpilot Rating: Their commitment to excellence resonates with customers, resulting in a commendable 3.9 out of 5 Trustpilot score. This robust rating mirrors their undying dedication to world-class service;
Client Count: With an astonishing client base surpassing 150 million annually, Western Union caters to a population rivaling many nations. Their vast user group spans regular remitters, digital customers, and retail consumers;
Global Reach: Western Union’s global expanse is unparalleled, enabling transactions in all but two nations. Their sprawling network consists of approximately 550,000 agent locations, facilitating transactions in 130 diverse currencies;
Transfer Limits: Perfectly structured for minor to substantial transfers, Western Union sets no minimum bar. Depending on the service and recipient country, users can dispatch up to $50,000. It’s pertinent to note that transfers beyond $3,000 necessitate identity validation;
Fees and Rates: Costs with Western Union vary, influenced by factors like the transfer amount, origination and destination spots, and chosen payment methods. Fees range from a mere $0-$15, reaching up to $100. While exchange rate markups oscillate between 1% and 5%, the convenience offered often justifies the price;
How to Send and Receive: Offering a multitude of funding pathways, users can utilize their bank accounts, credit/debit cards, or pay with cash at agent spots. Funds dispatched are retrievable via bank accounts, mobile wallets, or cash pickups at agent locations;
Language Support: Communication isn’t a barrier with Western Union. They cater to a global clientele, offering services in languages including Italian, Spanish, Dutch, Swedish, Chinese, Ukrainian, Danish, Finnish, English, Norwegian, Portuguese, Russian, Japanese, Turkish, French, German, Polish, and a plethora more;
Regulatory Approval: Western Union’s operations are meticulously overseen by key global regulatory bodies. The roster includes esteemed institutions like Canada’s FINTRAC, the UK’s FCA, and Australia’s AUSTRAC. In the US, their services span 49 states and the District of Columbia;
Mobile App: Evolving with technological advancements, Western Union’s mobile apps (rated 4.8/5 on iOS and 4.6/5 on Android) empower users to effortlessly conduct global transactions;
The Trophy Cabinet: Western Union’s formidable industry presence hasn’t gone unnoticed. A few of their distinguished awards include:
- The Consumer Payments Innovation by FinTech Breakthrough Awards in 2021;
- The Regional Partner Award by Education for Employment in 2019;
- The Payments Innovation of the Year Award in 2016.
Customers’ Opinion: Users recurrently applaud Western Union for their promptness, expansive network, and intuitive interface. While some criticisms revolve around the fees and exchange rates, a significant fraction of users find this a worthy trade-off for the unparalleled reach and speed. Customer service experiences, though mostly positive, do exhibit occasional hitches with communication or wait times. All of this allows Western Union to cement its status as a linchpin in the money transfer arena.

Read our full Western Union review.

7. XE

	Pros	Cons
1.	Stellar customer service	Small transfer fees are imposed on certain small money transfers
2.	Offers instant custom quotes	Sparse coverage of less-common currencies
3.	Top-notch website and mobile app	Absence of dedicated account managers for all users
4.	Broad currency selection	Average Trustpilot rating
5.	Local presence in many locations worldwide	No solid cancellation policy in place
6.	Loads of experience under the belt
7.	Swift money transfers with 50% transfers processed within minutes
8.	Attractive exchange rates
9.	A variety of payment methods
10.	Provides cash pickup service
11.	Extensive global reach
12.	Handy exchange rate alerts feature

Founded: Founded: 1993
Headquarters: Newmarket, ‎Ontario‎, ‎Canada
Trading Highs: When it comes to massive transactions, XE isn’t playing games. An astonishing £115 billion annually gives XE a seat at the heavyweights’ table;
Trustpilot Rating: Wearing their reputation like a crown, XE boasts a stellar 4.2 out of 5 Trustpilot score. Clearly, they’re skilled at charming the masses;
Client Count: Imagine a buzzing stadium, but instead of music, it’s the symphony of transactions. Every year, XE serves a whopping 150,000 clients, complemented by a staggering 280 million online visitors;
Global Reach: “Pick a place, any place”, seems to be XE’s motto. Their expansive network spreads across 170 countries, with a digital wallet ready to transact in 50 global currencies;
Transfer Limits: From modest amounts to substantial sums, XE has tailored their services for all. Whether you’re sending just £1 or looking at the upper echelons of £350,000 in the UK and the EU, XE flexes its versatility;
Fees and Rates: For the little spender in Europe, there’s a slight fee for sending under £250 or €250. For everyone else, XE rolls out the red carpet, with competitive markups ranging between 0.2% and 1.4% which are added to the mid-market exchange rate;
How to Send and Receive: Through bank account numbers, credit/debit cards, or modern solutions like PayID, XE ensures every user finds their preferred route. The funds land neatly in your XE account, ready to be dispatched globally;
Language Support: XE’s platform is a linguistic ecosystem, catering to a multitude of languages such as Italian, Spanish, Arabic, Swedish, Japanese, Chinese, Portuguese, French, German, and English. Whatever major language you’re fluent in, XE’s likely speaking it;
Regulatory Approval: With nods from global regulatory giants like the UK’s FCA, the US’s FinCEN, and Canada’s OSFI, XE is as legitimate as they come;
Mobile App: XE’s app is a comprehensive toolkit. With features spanning from rate alerts to cash pickups, it’s no wonder the app enjoys a robust 3.5 stars on Google Play and a sparkling 4.3 on the App Store;
The Trophy Cabinet: Though their award shelf isn’t heavily packed, the spotlight shines bright on the Canstar International Money Transfers Outstanding Value Award they secured in 2021;
Customers’ Opinion: With over 60,000 reviews, the tide of approval for XE is overwhelming. Praised for its user-friendliness, competitive rates, and top-tier service, XE’s fanbase is substantial. A minor 4% may air some grievances, but the overwhelmingly positive consensus is hard to contest. Given that, if you’re seeking a reliable, expansive, and customer-oriented money transfer service, XE could very much be your currency companion on the global stage.

Read our full XE review.

8. Moneycorp

moneycorp international money transfer review

	Pros	Cons
1.	Respectable Trustpilot rating	Absence of cash pickup services
2.	Unlimited transfer amounts for phone transactions	Online transactions have limited currency options
3.	Decades of industry experience	Mobile app enhancements seem necessary
4.	Multilingual services	Inability to generate instant custom quotes
5.	Exceptional customer support	Online transfers are restricted by a low maximum limit
6.	Impressive range of supported currencies
7.	Broad array of features for businesses
8.	Robust regulatory compliance
9.	Zero fees for transfers conducted online
10.	Speedy money transfers
11.	In-depth local expertise
12.	Operational in more than 190 nations worldwide

Founded: 1979
Headquarters: London, UK
Trading Highs: Let’s start with some spicy stats, shall we? Back in 2021, Moneycorp was flexing hard. They danced through over 6.5 million payments, collecting a cool £38 billion in international trades. And for those into numbers, that means a whopping £141 million in gross revenue;
Trustpilot Rating: Ever scroll through Trustpilot while sipping your espresso? Moneycorp’s sparkling 4.3 out of 5 stars there will catch your eye. Cheers to the good folks who gave their thumbs up (it’s only because they were thrilled with the provided service);
Client Count: Moneycorp’s charm isn’t limited. They’re flaunting a client base of around 11,000 corporate darlings. And if you’re thinking about their personal client list – yeah, it’s probably even longer, however, we don’t have the exact number to praise them even more;
Global Reach: Moneycorp is like a travel agent when you wish to jet-set your money. They play nice in over 190 countries, offering 35 currencies online and a staggering 120+ over the phone;
Transfer Limits: This company gets it. Sometimes you want to send just a little bit and sometimes a lot. Transfer with Moneycorp can be as low as £50 online, or if you’re feeling lavish, go for that maximum of £100,000. And if that doesn’t cut it, pick up the phone and arrange an amount that could be way higher than the online maximum cap;
Fees and Rates: No one likes hidden fees, and Moneycorp knows that. That’s why they offer free transfers when doing it online, and add a fee of £15 when you wish to transfer over a phone call. With exchange rates that are easy on the pocket, they’re keeping it real competitive;
How to Send and Receive: Whether you’re old school with checks or love a swift bank transfer, Moneycorp will help you move your money with utmost diligence. And for your pals on the other end, the money will arrive straight into their bank accounts – fast, smooth, and secure;
Language Support: Parli italiano? Parlez-vous français? Hablas español? Or maybe you’re just brushing up on your Romanian? Moneycorp is multilingual and they’re ready to chat;
Regulatory Approval: Rest easy because your money’s in safe hands with Moneycorp. The company is rubbing shoulders with the big league regulatory bodies, from the FCA to the Central Bank of Brazil and many others that ensure each transaction travels through the most secure channels;
Mobile App: If you’re always on the move and appreciate innovative solutions to help simplify your life, Moneycorp’s app’s got your back. Whether you’re Team iOS or Team Android, they’ve got your money transfer needs covered;
The Trophy Cabinet: A couple of their showstoppers include the “Best Cross-Border Payments” from Payment Awards and not one, but two “Money Transfer Provider of the Year” nods from MoneyAge Awards;
Customers’ Opinion: Let’s spill some tea. Users are all hearts and flowers for Moneycorp’s slick service and top-tier customer support. But, there are also a few whispers around the water cooler that hint at slightly less competitive rates and some waiting times. Even then, Moneycorp is perfectly suitable for those who need to move hefty sums in a reliable, speedy way.

Read our full Moneycorp review.

9. Instarem

instarem international money transfer review

	Pros	Cons
1.	International service reach covering over 60 countries	No hedging tools such as forward contracts or limit orders for businesses
2.	Quick money transfers	No cash pickup options (only available for residents in the Philippines)
3.	Exceptional customer service	Not ideal for large financial transfers
4.	Exclusive amaze card offered by Instarem	Limited support for multiple languages
5.	Broad currency coverage	Limited support for less common, exotic currencies
6.	Attractive foreign exchange rates
7.	Robust mobile application for easy access
8.	High rating on Trustpilot
9.	A wide array of payment choices
10.	Instant, free quotes providing transparency and avoiding hidden costs

Founded: 2014
Headquarters: Singapore
Trading Highs: Instarem isn’t just a lovely acquaintance – they’re building impressive relationships. With an annual trading volume clocking in at $3 billion, they’re clearly a beloved choice worldwide;
Trustpilot Rating: This company has some attractive swag and it shows. With a robust 4.4 stars on Trustpilot, users are raving about its clear, slick, and snappy platform;
Client Count: Over a million global aficionados can’t be wrong, right? With Instarem’s fresh and fair approach, they’re gathering fans at a super fast pace;
Global Reach: Looking to sprinkle your cash across borders? Instarem’s got you covered from nine prime locations to over 60 global destinations, dealing in 30 international currencies;
Transfer Limits: Flexibility is Instarem’s alter ego. While India’s got a $50 minimum limit, elsewhere, it’s all about what your heart (or wallet) desires. For the maximum transfer limits, you’d need to check their site, because it’s a choose-your-own-adventure deal;
Fees and Rates: Instarem is all about that clarity. Their fees vary, but they’re upfront about it. And their little markup hovers between 0.3% to 0.6% on the mid-market rate, keeping things transparent and affordable;
How to Send and Receive: Whether you’re swiping your card, banking it, or leveraging local options, Instarem is quite versatile. And for the lucky ones in China and the Philippines, there’s Alipay and cash pickups to consider;
Language Support: Keeping it classic with English, Instarem doesn’t offer support in other languages yet;
Regulatory Approval: Instarem has been given all of the approval by the big guns in the regulatory world – think ASIC, FCA, FinCEN, and so many more. That makes them as safe as every other option featured on our list;
Mobile App: For every smartphone addict, Instarem’s app is on point, scoring a neat 4.1 on iOS and an even sweeter 4.3 on Android;
The Trophy Cabinet: Instarem is absolutely not just about the talk – they’ve got the trophies to back it. Bagging the “Best Value International Money Transfer” twice in a row and accolades from Ripple and India Fintech Awards, they’re clearly turning heads;
Customers’ Opinion: The buzz around Instarem involves users singing praises for their sleek interface, swift moves, tempting rates, and A+ customer service. But, like any good story, there’s always a plot twist. A few folks are hoping for more send-off points, and occasionally, technical obstacles do appear. But, Instarem gets every duck in a row just in time so each of their customers leaves with a positive, pleasant experience.

Read our full Instarem review.

10. Currency Solutions

currency solutions international money transfer review

	Pros	Cons
1.	Advanced business FX features, including market orders and options contracts for effective currency risk management	Lack of a mobile application
2.	Impressive Trustpilot rating	Lack of an instant quote feature
3.	Service availability in over 160 countries	Charges apply for smaller transfer amounts
4.	Fee-free transfers for larger amounts	Limited availability of exotic currencies
5.	Robust currency offerings with support for 40+ global currencies	Customer support isn’t available around the clock
6.	A longstanding industry experience
7.	Competitive exchange rates
8.	Quick fund transfers
9.	Personalized service through dedicated account managers
10.	Outstanding customer support

Founded: 2003
Headquarters: London, UK
Trading Highs: Ever since Currency Solutions entered the billionaires’ club in 2018, they haven’t looked back. Handling over £1 billion in international money transfers each year, they’ve got the means and resources to facilitate a money-moving network that can proudly stand to the rest of the services on this list;
Trustpilot Rating: Hovering at a snazzy 4.7 on Trustpilot, it’s clear: customers are vibing with everything Currency Solutions brings to the table;
Client Count: As of 2019, more than 150,000 users were waving the Currency Solutions flag. And we bet those numbers have only gone up since then;
Global Reach: Whether you’re clicking online or dialing in, Currency Solutions keeps the world at your fingertips. Covering over 160 countries and providing support for more than 40 currencies, Currency Solutions proves how serious their potential is;
Transfer Limits: While there’s a floor of £100, online ceiling limits vary. Personal accounts can shoot up to £20,000 and businesses up to £50,000. However, you can pick up the phone and negotiate much higher transfers up to three times a day;
Fees and Rates: If you keep your transfers over £3,000, Currency Solutions won’t charge you any transfer fees. Their exchange rate margin ranges between a neat 0.5% and 1% above the mid-market rate, making them one of the industry’s sweethearts;
How to Send and Receive: Whether you’re more comfortable with hooking up your bank account or using your debit card (Visa/Mastercard), Currency Solutions is ready to roll. The receivers can only get their funds in their personal bank accounts;
Language Support: Currently, Currency Solutions’ website and customer support are only available for speakers of the English language;
Regulatory Approval: Currency Solutions isn’t playing around. They’re regulated by the UK’s big boss – the FCA, and they’ve got not one, but two reference numbers. They’re certainly not afraid of credentials;
Mobile App: Currency Solutions’ customers are still waiting for the mobile app, but hey, all good things take time;
The Trophy Cabinet: They might be hush-hush on the award details, but don’t let that fool you. Being crowned the “Best Currency Transfer Provider” at the 2016 Trade Finance Global Currency Awards and scoring the Trustpilot’s Top-Rated spot from 2017 to 2020 is a reason for much appreciation;
Customers’ Opinion: Customers are ecstatic when talking about their experiences with Currency Solutions. With those smashing rates, no fees above £3,000, and high-end service, what’s not to love? There are some minor blips on the radar, but the positives make them almost invisible.

Read our full Currency Solutions review.

Conclusion

As we journey through the world of international money transfer services, it becomes evident that the sphere isn’t just about sending and receiving money anymore. It’s about convenience, speed, trustworthiness, and accessibility. From competitive exchange rates and digital-first methods to vast global networks and strict regulations, each of the platforms on this list offers its unique blend of benefits tailored to diverse user needs.

While many of these services have a global reach, their impact on specific markets, like Italy, is noteworthy. The country, with its rich history of trade, commerce, and international relations, has always been at the crossroads of financial transactions.

The increasing digitization of the Italian economy, coupled with a rising number of expats and businesses operating internationally, necessitates efficient and reliable money transfer solutions. As Italy continues to modernize its financial infrastructure and embraces FinTech innovations, it stands at the edge of a money transfer revolution.

The future of money transfers in Italy looks promising. With Italian businesses expanding their horizons and the country’s population becoming increasingly global, there’s an escalating demand for fast, efficient, and cost-effective international money transfer solutions. As regulations adapt and technology advances, Italy is set to become a focal point in the European region for digital financial services.

With all of that in mind, it’s essential to remember that while choosing a money transfer service, one must always consider their individual needs, the fees involved, transfer speeds, and the platform’s credibility. In an age where digital transactions are becoming the norm, ensuring your money’s safety and timely delivery is paramount.

F.A.Q.

Which money transfer service has the most extensive global reach?

Western Union boasts an unrivaled reach with around 550,000 agent locations worldwide, allowing transactions in approximately 130 different global currencies.

Which service had the highest Trustpilot rating mentioned in the article?

Currencies Direct secured a high spot with a Trustpilot rating of 4.9/5, reflecting strong customer trust and satisfaction.

Are there any transfer limits when using these services?

Yes, each service has its own transfer limits. For instance, Western Union allows transfers up to $50,000, depending on the service and destination, while XE has varying limits based on the region, such as £350,000 in the UK and the EU.

Is the future of money transfers in Italy leaning more towards digital methods?

Absolutely. Italy’s increasing digitization and growing number of expats and international businesses highlight a significant shift towards digital-first money transfer solutions.

Do all these platforms offer mobile apps?

Most of them do. Their mobile apps are all highly rated and offer tons of features that make global transfers a breeze for tech-savvy users.

Are fees consistent across different transfer platforms?

No, fees vary. For example, while XE charges a fee for amounts under £250 or €250 in Europe, Wise charges a variable fee between 0.35% to 3% and a fixed fee ranging from £0.2 to £20, depending on various factors. We advise you to always check the platform’s fee structure before initiating a transfer.

Which service seems to be the oldest in the money transfer industry?

Western Union is a titan in the money transfer field, having established its commanding presence over many decades, marking it as one of the oldest and most recognized brands.

Is there any service that specifically supports African currencies?

Yes, WorldRemit supports over 70 currencies, including many that are frequently used in African countries, making it a preferred choice for transfers to the continent.

How do these platforms handle negative customer feedback or complaints?

Most platforms take customer feedback very seriously. They often have dedicated customer service teams to address issues, and some, like WorldRemit and Instarem, have mechanisms in place to deal with issues such as refunds and transfer delays.

Can I use multiple payment methods with these services?

Most definitely. All of the international money transfer companies included in this article offer a variety of funding options, from bank accounts, credit/debit cards, and cash payments at specific locations, to localized payment options such as Apple and Google Pay.