10 Best Money Transfer Companies in Japan

In the pulsating heart of Tokyo’s Shibuya crossing or while sipping on some matcha in Kyoto’s tea houses, there’s one thing the modern nomad and the local business tycoon have in common: the need to shuffle yen around.

Japan is not just about sushi, sakura, and anime. It’s a buzzing hub of international transactions and bustling businesses.

Now, before you start thinking this is some deep dive into the philosophical nature of money – pump the brakes. We’re here to give you the down-low, the straight talk, the top intel on the 10 best money transfer companies in Japan. No fluff, just the good stuff.

So, whether you’re sending funds to your buddy in Osaka or making a sleek investment in that cool startup in Fukuoka, we’ve got you covered.

Sections

How to Choose the Best Money Transfer Company in Japan

Not all money transfer companies are created equal. And in a world where your hard-earned yen could be lost in digital limbo or slapped with some nasty hidden fees, you need to be sharp, fast, and a little bit sly.

Here’s the lowdown on choosing the crème de la crème of Japanese money transfer companies:

Speedy Transfers

Let’s face it – time is money. You don’t want to be waiting eons for your transfer to go through. Look for companies with a reputation for lightning-fast transactions. Nobody wants a service that takes weeks to make things happen.

Transparent Fees

Hidden fees are like that cheap wasabi surprise in your sushi – often unwanted and leaving a sour aftertaste. Companies with upfront fee structures get a gold star. With those, you get some peace of mind knowing you’ll never get spooked out of nowhere.

Currency Conversion Rates

A fair exchange rate can make a hefty difference in the amount the recipient gets. It’s not only about getting a better deal for your money. You’re also showing consideration for your recipient and their slice of the pie. Shop around, compare, and choose a less-greedy service.

Tight Security

Your money’s security should be tighter than a Tokyo train at rush hour. Ensure the company has robust security measures in place. Encryption, two-factor authentication, and a reliable track record are a must.

Diverse Transaction Methods

Whether you’re a fan of bank transfers, card payments, or online wallets, versatility is the name of the game. Your chosen company should cater to your preferred method, not the other way around.

Top Customer Support

Have you ever tried getting answers from a robot that just doesn’t seem to work? It can be frustrating, we know. Therefore, opt for companies that offer real, human support, ready to assist when the digital journey gets tough.

Local Approval

A company deeply rooted in Japanese culture and banking systems means that they are a great fit for Japanese customers. Local expertise can ease a lot of transfer-related hiccups.

User-Friendly Platforms

If navigating the platform feels like decoding hieroglyphics, it’s a hard pass. A seamless user interface can make the transfer experience smooth like butter.

Glowing Reviews

Word of mouth in the digital age translates to online reviews. Dive into those star ratings and comments. If Akira from Yokohama says it’s good, then it’s probably good.

Flexibility and Limits

Your transfer needs can vary from pocket change to big bucks. Ensure the company can handle a wide range of transaction amounts without making you jump through hoops.

That’s the fast track to finding the best money transfer company in Japan. It will help you easily make the most out of all that financial flexibility.

Overview of the Money Transfer Landscape in Japan

Japan’s always been a fusion of the timeless and the contemporary – and the money transfer scene is no different. From under-the-mattress savers to the tech-savvy Gen Z, the landscape is diverse and ever-evolving.

Let’s take a scenic tour of Japan’s money transfer topography:

The Old Guard – Banks

Japanese banks, like the Bank of Tokyo-Mitsubishi UFJ or Sumitomo Mitsui, have traditionally been the go-to for both locals and expats. Sure, they are reliable. But they come with their share of paperwork, longer wait times, and sometimes, those pesky hidden fees we warned you about.

Digital Nomads’ Delight – Fintechs

Enter the new kids on the block. Companies like TransferWise (now Wise) and Revolut are jazzing things up. They’re fast, they’re flexible, and they’re armed with apps that would make any tech junkie crave for more.

Current Rave – Mobile Wallets

Line Pay, Rakuten Pay, and others have made Japanese folks rethink the classic wallet. It’s less about cards and cash and more about QR codes and one-touch payments. Super nifty for in-country transactions and increasingly expanding their international reach.

The Unexpected Player – Post Offices

Bet you didn’t see this coming! Japan Post Bank, intertwined with the national postal system, offers international money transfer services. It’s an old-school meets new-school approach that’s especially popular in rural areas.

The Wild Card – Crypto

While still a budding contender in the money transfer landscape, cryptocurrencies like Bitcoin and Ethereum are gaining traction. Japan’s been quick to regulate and adapt, with crypto exchanges playing an integral role. It’s the future, just, not uniformly accepted (yet).

Niche but Notable –Remittance Shops

In urban hubs like Tokyo and Osaka, you’ll find remittance shops catering especially to foreign workers. These spots allow for direct transfers to overseas banks and are a lifeline for many expats.

Connecting Ecommerce – Digital Payments

With Japan being a massive player in the e-commerce world, platforms like PayPal and Alipay have etched their mark. They’re not just for shopping but for seamless cross-border transactions as well.

Regulations and Innovations

Japan’s Financial Services Agency (FSA) keeps a close watch, ensuring customer protection and promoting innovation. This regulatory body’s efforts mean that the market keeps evolving, with customers reaping the benefits.

International Partnerships

To expand reach and simplify processes, many Japanese companies are partnering with global players. It’s all about creating a money transfer highway that’s free of traffic jams and toll booths.

Local Loyalty Programs

Japanese love their points! Many platforms offer loyalty programs, with points accrued from transfers. It’s like a bonus round in the game of finances.

All of these options mean one thing – Japan’s money transfer terrain has something for everyone. Just like a sushi platter, it offers a delightful mix, ensuring everyone gets a piece of their favorite roll.

Now, get out there and make those yen moves with confidence!

Comparison of the Top 10 Money Transfer Companies in Japan

Key Details

No.	Provider Name	Founded	Trustpilot rating	Countries Covered	Currencies Covered	Transfer Speed	Cash Pickup	Mobile App
1	XE	1993	4.3	170	50	1-4 days	Yes	Yes
2	Currencies Direct	1996	4.9	200	70	1-2 hours within Europe;1-2 days for overseas transfers.	No	Yes
3	WorldRemit	2010	4.1	145	70	0-2 days (within minutes in 95% of cases).	Yes	Yes
4	Wise	2011	4.3	170	50	0-2 days (within minutes for over 50% of transfers).	No	Yes
5	MoneyGram	1940	4.5	200	60	Within minutes (cash transfers);1-3 days (bank and debit card transfers).	Yes	Yes
6	OFX	1998	4.3	190	55	1-4 days	No	Yes
7	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
8	TorFX	2004	4.9	120	40	0-2 days	No	Yes
9	Remitly	2011	4.1	180	75	Within minutes (express delivery);3-5 days (economy delivery).	Yes	Yes
10	CurrencyTransfer	2015	4.8	170	28	1-4 days	No	No
11	Send Payments	2018	4.9	180	37	0-2 days	No	No
12	Instarem	2014	4.4	60	30	1-2 days	Only for the Philippines	Yes
13	VertoFX	2017	3.9	200	51	1-2 days	No	Only for Android
14	Moneycorp	1979	4.3	190	35	1-2 days	No	Yes
15	Currency Solutions	2003	4.7	160	40	3 hours-2 days	No	No
16	Revolut	2015	4.3	200	29	Instant for Revolut users;1-2 days for the rest.	No	Yes
17	CurrencyFair	2009	4.3	150	20	0-5 days	No	Yes
18	Global Reach	2001	2.8	180	140	1-2 days	No	No
19	Key Currency	2016	4.9	N/A	37	1-2 days	No	No
20	Caxton	2002	4.8	170	28	1-2 days	No	Yes

Fees, Rates, and Limits

No.	Provider Name	Transfer Fee	Exchange Rate Margin	Minimum Transfer Amount	Maximum Transfer Amount
1	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).
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	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).
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	MoneyGram	Depends on the location, the sending amount, and the payment method. Can be as low as $0-$15 and as high as $100.	1% to 5% added to the mid-market rate.	$1	$10,000 per online transfer for most countries (with a $10,000 as a monthly cap);$25,000 for online transfers to 42 select countries from the US.
6	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
7	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.
8	TorFX	No fee	1.9% – 2.7% added to the mid-market exchange rate.	£100 (or currency equivalent);(£500 for recurring money transfers).	No limit (£10,000 for recurring money transfers).
9	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).
10	CurrencyTransfer	No fee	0.7% added to the mid-market exchange rate.	£5,000 (or currency equivalent)	No limit
11	Send Payments	No fee	About 1% added to the mid-market exchange rate.	AU$250	No limit (AU$25,000 for recurring, daily transfers).
12	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.
13	VertoFX	No fee	0.2%-0.6% added to the mid-market rate or the best available rate.	$1	No limit
14	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.
15	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.
16	Revolut	No fee for transferring to other Revolut users;Card transfers:0.7% (if you’re in Europe)2.3% (outside Europe)Bank transfers:fees can range between 0.35% and 1%.	A 0.5% – 2% markup is added to the mid-market exchange rate on weekends. There is usually no markup added on weekdays.	£1	Depends on the selected plan, the sending country, and the recipient country.
17	CurrencyFair	£2.50 (UK);€3 (EU);Currency equivalent for other currencies.	0.45% added to the mid-market exchange rate	£7 (or currency equivalent)	10,000,000 (same in every available currency)
18	Global Reach	£20 for transfers under £3,000;£0 for transfers above £3,000.	0.4% – 1.9% added to the mid-market exchange rate	£1,000 (or currency equivalent)	No limit
19	Key Currency	No fee	0.2% – 1% added to the mid-market exchange rate	£1	No limit
20	Caxton	No fee	N/A	£100 (or currency equivalent)	£100,000 (or currency equivalent); £10,000 if paying with a debit card.

Review of the 10 Best Money Transfer Companies in Japan

1. Revolut

Revolut International Money Transfer Review

	Pros	Cons
1.	Broad coverage of services globally	Complex fee structure
2.	User-friendly debit card services	No cash pickup options
3.	Comprehensive suite of business-oriented features	Inefficient for large-scale money transfers
4.	Option to trade in cryptocurrencies	A relative newcomer in the financial industry
5.	Fast money transfers	Limited scope of in-app currency support
6.	An abundance of contemporary banking features
7.	Zero transfer fees for smaller transfers
8.	Attractive foreign exchange rates
9.	Virtual cards for secure online transactions
10.	Wide range of supported currencies for travelers
11.	Exceptional customer support

Founded: 2015
Headquarters: London, UK
Trading Highs: Here’s a number that might just blow your sushi out of the soy sauce: $140 billion. Yep, that’s how much Revolut moved around in 2022 alone. They’ve sprinted past the “fintech startup” label and crossed the finish line as a bona fide trust magnet;
Trustpilot Rating: A sweet 4.3 out of 5 on Trustpilot isn’t just impressive – it’s monumental. Revolut is done throwing fancy ads and snazzy slogans. Today, they’re backing it up with real, reliable service that their users are raving about;
Client Count: 30 million individuals and over half a million businesses. Let’s just say Revolut’s annual holiday card list is long. They’re not just any platform – they’re practically a metropolis of satisfied money movers.
Global Reach: Think of Revolut as your all-access, VIP, backstage pass to the world’s currencies. Operating in over 200 countries with a choice of 29 in-app currencies and withdrawals possible in over 140! It’s like being in a global currency buffet;
Transfer Limits: Whether you’re moving a modest sum or hitting the high notes, Revolut has got your back. Their user-centric approach ensures the chains are off and you get to choose how much you move and when;
Fees and Rates: Let’s decode the number game: fast transfers within Europe? That’s a measly 0.7% of the transfer amount. Globetrotting outside Europe? A slightly heftier 2.3%. And with bank transfers oscillating between 0.35% to 1% on weekdays, it’s clear that that’s the golden time for smaller transfers. Weekends usually come with higher rates;
How to Send and Receive: If you can tap, you can transfer. With tons of available options, from bank accounts to cards, getting your yen (or any other currency) to its destination is a piece of mochi cake;
Language Support: Revolut is the polyglot you always wished you were. From Spanish to Japanese and every linguistic stop in between, they’ve got a seat for everyone at the money transfer table.
Regulatory Approval: Sleeping with one eye open isn’t needed here. With the Bank of Lithuania and the UK’s FCA playing watchdog, your funds with Revolut are safer than a samurai’s sword in its sheath;
Mobile App: Revolut’s app is more than a functional asset. It’s a pocket-sized financial prodigy. With high ratings on both iOS and Android, it’s clear they’re mastering the tech side of finance;
The Trophy Cabinet: Revolut are running the long race and collecting tons of medals along the way. With accolades like “Innovation of The Year” under their belt, they’re clearly in the major leagues of fintech;
Customers’ Opinion: Sure, no one’s perfect. A hiccup here, a delay there – but on the whole, the consensus is clear: Revolut is a titan in the money transfer arena. They’ve set the bar so high that others might need a telescope to see it. They’re literally the money transfer samurai we didn’t know we needed. Whether you’re a solo traveler or the person in charge of a multinational enterprise, Revolut’s got your yen transfer game on lock. With them, it’s not just business as usual – it’s business done better.

Read our full Revolut review.

2. Western Union

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

Founded: 1851
Headquarters: Denver, CO, United States
Trading Highs: Western Union has been in the game since, well, before it was even a game. In 2017, they were clocking 32 transactions every second, shuffling a colossal $300 billion across borders. Owning over 20% of the global transfer market, they’ve got more swagger than the average sumo wrestler in Japan;
Trustpilot Rating: Sporting a 3.9 out of 5 on Trustpilot, Western Union proves they’ve still got everything it takes to remain on the top. They’ve faced the tests of time and have emerged with the wisdom of a sensei and the agility of a ninja;
Client Count: Let’s put it this way: with 150 million annual customers, if Western Union was a city, it would be the largest one on Earth, just like Tokyo is. That’s right, they’ve got more members than some countries have residents;
Global Reach: The sun never sets on Western Union’s empire. Their footprint spans across the globe with a dizzying 550,000 agents. And with the staggering 130 currency options, they’re like the universal plug adapter of the finance world;
Transfer Limits: Whether you’re shifting pocket change or moving big bucks, Western Union’s got the flexibility of an Olympic gymnast. From micro-transfers to a whopping $50,000, they’ve got the bandwidth for all of your ambitions;
Fees and Rates: Western Union’s fee scenario is kind of like sushi – it ranges from your standard maki roll to premium sashimi. On average, you might be looking at $0-$15, but for some specific transfers, it can go up to $100. And while their exchange rate markup dances between 1% and 5% (added to the mid-market exchange rate), it’s often a better deal than getting cozy with your traditional bank;
How to Send and Receive: You name it and Western Union will do it. Whether you’re the traditional bank transfer type, a credit card enthusiast, or a cash-in-hand person, they cater to all tastes. And on the receiving end, they’ve got more pickup options than a Tokyo taxi stand;
Language Support: Western Union’s language game is strong. Whether you’re spitting verses in Dutch or serenading in Japanese, they’ve got someone ready to jam with you;
Regulatory Approval: Safety is Western Union’s middle name. Under the sharp watch of global bigwigs like the FCA, FINTRAC, and AUSTRAC, and approved by a staggering 49 US states and DC, this company runs services with utmost security;
Mobile App: For those on the move, their mobile apps are a godsend. A seamless experience, whether you’re an Apple aficionado or an Android addict;
The Trophy Cabinet: Western Union isn’t doing quite well in the awards sector – they’re collecting accolades without a pause. Recognitions for their innovative payment methods and commendable humanitarian efforts show they’re both in it for the game and for the greater good as well;
Customers’ Opinion: Being the shining example of the industry, Western Union’s reputation precedes them. They’ve garnered hefty praise for their speed, diversity, and expansive reach. While a few folks might grumble about the fees and an occasional support hiccup, the scales are heavily tipped in favor of their prowess. The consensus is that they’ve still got that magnetic charm, pulling in those who want a tried, tested, and triumphant transfer titan. With their legacy, reach, and relentless innovation, it’s clear why they remain a favorite choice for many.

Read our full Western Union review.

3. OFX

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

Founded: 1998
Headquarters: Sydney, New South Wales, Australia
Trading Highs: With $140 billion moved since they kicked things off, these guys are more than just number crunchers. Boasting net cash north of $60 million and an enviable net income of around $100 million, OFX isn’t only one of the players in the industry – they’re a game-changer;
Trustpilot Rating: A gleaming rating of 4.3 out of 5 stars on Trustpilot, largely due to their happy corporate clientele, makes one thing clear: when it comes to financial orchestration, OFX is the maestro the business world trusts;
Client Count: Sure, a million customers might not sound like Tokyo at rush hour numbers, but when it comes to the weight of those transactions, OFX punches way above its weight class;
Global Reach: Think of OFX as your personal financial airplane. No matter where you’re jetting off to, with a reach spanning 190 countries and a whopping 55 currencies, they’ve probably got a seat with your name on it.
Transfer Limits: From tiny payments to whale-sized wires, OFX flexes like a champ. Minimums vary, but with no ceiling on maximums, the sky’s the limit;
Fees and Rates: Now, here’s where OFX truly stands out. If you’re transferring more than $10k, forget the fees – OFC covers them for you. For the smaller amounts, their fees stay lean, and the exchange rate margins keep things competitive. Your wallet will certainly thank you;
How to Send and Receive: Navigating their platform is as smooth as sipping some fine sake. And while bank accounts are their jam for both sending and receiving, their process is exceptionally streamlined;
Language Support: OFX’s monolingual support might not win them the “Polyglot of the Year” award. But, if you’re fine reading this article in English, you’ll be all set with OFX as well;
Regulatory Approval: With a bespoke list of over 50 financial regulators keeping tabs, including prestigious names like the Central Bank of Ireland and Australia’s ASIC, you can bet your last yen that your funds are as secure as a samurai’s armor;
Mobile App: With killer ratings on both the App Store and Google Play, it’s evident that OFX is nailing the mobile experience with their high-end smartphone app;
The Trophy Cabinet: OFX’s awards shelf is brighter than the Tokyo Tower at night. From Deloitte’s high-profile listings to being crowned champions by Finder, their mantle is gleaming with gold;
Customers’ Opinion: The applause for OFX is thunderous. Their track record in efficient performance and customer service has carved out a loyal fanbase. Sure, there’s some occasional grumbling about transfer times and paperwork, but when you’re moving serious money, a little patience isn’t too much to ask. In any case, if you’ve got hefty financial goals and global aspirations, overlooking OFX would be a loss on your side. With them by your side, your international money moves are in expert hands.

Read our full OFX review.

4. Currencies Direct

currencies direct international money transfer review

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

Founded: 1996
Headquarters: London, UK
Trading Highs: Picture Currencies Direct with the finesse of a star striker like Messi, always hitting the target. The £9.5 billion transferred in 2021 is what world-class financial footwork looks like;
Trustpilot Rating: Sporting a dazzling 4.9 out of 5 stars on Trustpilot, Currencies Direct is like that three-Michelin-star restaurant with a never-ending waiting list. In the world of money transfers, they’re the ones with the unforgettable gourmet experiences;
Client Count: With 27 years on the scoreboard and a fanbase of around 430,000 clients, it’s clear Currencies Direct knows a thing or two about building loyalty on and off the financial field;
Global Reach: Whether you’re looking to send funds to Jamaica or a charming village in Japan, Currencies Direct has the reach of a global superstar. Operating in over 200 territories and handling a plush palette of 70 currencies, they’re your international maestro;
Transfer Limits: Currencies Direct is always ready to transfer your money no matter what. You can move anywhere from €1 to a generous €25,000 on their app. And if you’re in the mood to spend big (up to €300,000), your dedicated dealer is just a call away;
Fees and Rates: Currencies Direct is serving zero-fee realness. And with their exchange rate markup floating between 0.4% and 1.4%, they’re delivering premium passes without the premium price tags;
How to Send and Receive: Multiple funding methods keep things breezy. Whether it’s a bank transfer, card, or the classic check, Currencies Direct is on it. But a heads-up for the recipients – a bank account is the only receiving method available;
Language Support: Currencies Direct is a true polyglot among the many international money transfer services. While they don’t have Japanese among their options, you can use French, English, Korean, Spanish, Chinese, Swedish, Norwegian, Portuguese, Italian, or German to chat with them;
Regulatory Approval: As secure as an indestructible safe, Currencies Direct’s regulatory roster boasts names like the UK’s FCA and the USA’s FINCEN, ensuring your money’s protected from any financial foul plays;
Mobile App: Think of Currencies Direct’s app as your pocket-sized financial assistant. While it’s got a decent 3.5-star rating, it’s packed with features to help you move money fast when you’re on the go;
The Trophy Cabinet: If awards were football trophies, Currencies Direct would definitely need a bigger display case. Titles like “Consumer Champion of the Year” highlight their prowess in the pitch of currency trading;
Customers’ Opinion: Trustpilot is echoing with applause for Currencies Direct. Customers are singing praises for their seamless service. Although the occasional chorus of complaints about documentation might pop up, it’s only a small blip in their otherwise chart-topping performance. This company has the strategy, the skill, and the service to make every transfer easily possible.

Read our full Currencies Direct review.

5. XE

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

Founded: 1993
Headquarters: Newmarket, ‎Ontario‎, ‎Canada
Trading Highs: Think of XE as the Apple of the finance game – not the most affordable player, but consistently solid, delivering top-notch products and services. With an annual trading volume that hits the staggering £115 billion mark, it’s undeniable: XE is always present front and center;
Trustpilot Rating: XE might not have the glitz and glam, but they’re certainly Hollywood A-list in the money-moving universe. A respectable 4.3 out of 5 on Trustpilot screams Tom Cruz – silently phenomenal without needing the overt glitz;
Client Count: With a loyal clientele of 150,000 annually and a digital draw of 280 million viewers, XE is that diner everyone loves – reliable, affordable, and always hits the spot;
Global Reach: Need to send some yens to Tokyo or dirhams to Dubai? XE’s global footprint, covering 170 countries, ensures you’re never left wanting, no matter how international your tastes become;
Transfer Limits: With a range stretching from just €1 up to a robust €350,000 within the EU, XE bends and flexes like a gymnast to satisfy all of their customers’ appetites;
Fees and Rates: XE keeps it transparent and simple. They’ve got some minor fees for small transactions within Europe, but once you cross the £250 or €250 thresholds, it’s all smooth sailing without any fees. Their exchange rates are competitive, hovering just 0.2% to 1.4% above the mid-market exchange rate;
How to Send and Receive: With XE, your money-moving options are plentiful and include bank accounts, credit or debit cards, direct debit, PayID, and Interac. And when you’re ready to collect, either do it digitally or pop by one of their many global pick-up points;
Language Support: Speaking the universal language of money isn’t enough for XE. They cater to a variety of tongues. From Japanese to Arabic, they’ve got linguists who’ll understand exactly what you mean;
Regulatory Approval: With nods from the big boys like FinCEN, OSFI, FINTRAC, FCA, and ASIC, XE resembles a fortified castle. With them, your money’s not just safe – it’s royal;
Mobile App: On the tech front, XE’s app doesn’t disappoint. With pretty solid scores on both Android and iOS, it’s like having a mini finance wizard right in your pocket;
The Trophy Cabinet: While they may not be knee-deep in awards, grabbing Canstar’s prestigious accolade in 2021 shows they’re not lacking in the recognition department;
Customers’ Opinion: In the grand theater of reviews, XE is a critically acclaimed masterpiece. While a few critics might make a fuss about drawbacks in rates and customer support, the majority of the 50,000+ raving fans drown out the skeptics. With that, XE might not be the flashiest show in town, but when the curtains fall, their performance is what stands out.

Read our full XE review.

6. Instarem

instarem international money transfer review

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

Founded: 2014
Headquarters: Singapore
Trading Highs: Instarem isn’t only helpful when they’re needed – they’re creating lifelong connections. With an annual trading volume of a cool $3 billion, they’re making waves and winning hearts in the global money transfer scene;
Trustpilot Rating: A solid 4.4 stars on Trustpilot makes Instarem the cool kid with the latest kicks. Users can’t help but praise Instarem’s fresh, efficient, and user-friendly platform;
Client Count: Instarem boasts a million-strong global fandom. Their straightforward approach is making them the go-to BFF for many in the industry of international money transfers;
Global Reach: Whether you’re thinking of sending funds from Sydney to Singapore or Oslo to Osaka, Instarem’s network, spanning nine key hubs and 60+ destinations, has got you covered;
Transfer Limits: When it comes to how much you can send with Instarem, they play it cool and flexible. India has its $50 minimum, but globally, it’s a freestyle game. Just make sure to check their site for those ceiling amounts;
Fees and Rates: Instarem’s mantra is “keep it clear and keep it fair”. Transparent fees and a markup that’s just a crumb (0.3%-0.6%) above mid-market rates means no nasty surprises;
How to Send and Receive: Cards, banks, and local payment methods – Instarem has got the moves. And for the lucky crew in China and the Philippines, there’s the option of Alipay and cash pickups;
Language Support: While they’re keeping it classic with English-only support, Instarem’s platform is intuitive enough for anyone to cruise through;
Regulatory Approval: Instarem isn’t just rolling with the cool kids – they’re rolling with the big regulatory watchdogs. Think ASIC, FCA, and FinCEN. That means that your money is as secure as a vault in a hidden room in a fortress;
Mobile App: For those always on the move, Instarem’s app is a dream, boasting ratings of 4.1 on iOS and an even snazzier 4.3 on Android;
The Trophy Cabinet: As the years go by, Instarem’s trophy shelf is getting a bit crowded. With titles like “Best Value International Money Transfer” bagged not once, but twice, plus nods from big names like Ripple and India Fintech Awards, they’re no strangers to the spotlight;
Customers’ Opinion: The Instarem chorus is loud and clear. Users love their seamless interface, lightning-quick transfers, competitive rates, and stellar customer care. And sure, like any epic, there are minor pitfalls – a few wish for more sending countries, and some odd tech glitches do pop up. But Instarem is always on the ball, ensuring every user walks away with a smile. They’re reimagining the money move landscape, one slick transfer at a time.

Read our full Instarem review.

7. CurrencyFair

currencyfair international money transfer review

	Pros	Cons
1.	Fixed fee for money transfers	Limited options for transfer funding
2.	Wide-reaching service coverage	Lack of personal account managers for individual users
3.	Awards for superb performance in the financial sector	Poor user rating for the Android mobile app
4.	Alerts for exchange rate changes	Absence of cash pickup service
5.	Instant personalized quotes	Narrow range of supported currencies
6.	Excellent customer service
7.	Competitive exchange rates
8.	Impressive Trustpilot score
9.	Adequate for both large and small money transfers
10.	Quick international transfers

Founded: 2009
Headquarters: Dublin, Ireland
Trading Highs: CurrencyFair is an underdog boxer who might not have the title belts but still delivers a mean uppercut. Trading at $300 million annually, they’re the outsider with a surprise left hook;
Trustpilot Rating: A stellar 4.4 out of 5 on Trustpilot gives CurrencyFair all the swag they need. Clearly, their reputation outshines many in the money-moving industry;
Client Count: With a substantial fanbase of 150,000 business and personal clients, CurrencyFair isn’t just part of the crowd – they’re leading the parade.
Global Reach: While they might not span every corner of the map like some big names, 150 countries is no small feat. Their 20 currency offering proves that quality often trumps quantity;
Transfer Limits: CurrencyFair knows the money game isn’t just about the high rollers. With a humble minimum of €10 and scaling up to a whopping 10 million in various currencies, they’re about catering to everyone – from the freshman student to the corporate magnate;
Fees and Rates: CurrencyFair introduces a neat fee of €3.00 per transfer and an exchange rate markup of just 0.45% above the mid-market rate. No fuss, no confusion, just straightforward frankness;
How to Send and Receive: They’ve streamlined the process down to bank-to-bank transfers, making it as direct as a straight road. Plus, their handy mobile app ensures you’re never limited to one platform– perfect for the global wanderer;
Language Support: CurrencyFair may not be the United Nations of money transfers, but their trilingual support in German, English, and French is nothing to make fun of;
Regulatory Approval: CurrencyFair isn’t just running wild. They’ve got the big regulatory names like the Central Bank of Ireland and MAS in Singapore giving them the nod. Your funds with them are perfectly safe and secure;
Mobile App: We’ve got some mixed feelings here. While iOS users are gleaming with a 4.4/5, those on Android might be wishing on a star for some upgrades to boost that 2.6/5 score;
The Trophy Cabinet: Don’t be fooled by their CurrencyFair’s modesty. Their accolades, like the “Top 100 Startup” by Silicon Republic and “Best in Fintech” at the Spiders Awards, prove they’ve got some secret ingredient that always keeps them near the top;
Customers’ Opinion: The public’s praise for CurrencyFair’s affordable fees and sharp rates is loud and proud. But every rose has its thorn – a few critiques on customer service and verification steps are out there. Still, the overall sentiment is positive, painting CurrencyFair as the nimble player you didn’t see coming. They may not have the glitz of some industry giants, but they sure make up for it in grit and determination.

Read our full CurrencyFair review.

8. Wise

wise international money transfer review

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

Founded: 2011
Headquarters: London, UK
Trading Highs: Picture Wise as the leading figure in the realm of money transfers, consistently forging impressive trade deals. In 2022 alone, Wise had a trading volume of £76.4 billion. This isn’t merely a testament to their prowess in diplomacy – it’s evidence of their dominant position, akin to that of a king;
Trustpilot Rating: With a Trustpilot score of 4.5 out of 5, Wise isn’t only famous for its powerful features, but is also trusted with everyone’s secrets;
Client Count: Can you visualize 16 million people? That’s more than the population of proper Tokyo! With Wise, that staggering number isn’t just clientele – it’s a fandom. And their crew of 4,500 expert employees, ensures every need is met;
Global Reach: Spanning over 170 countries and fluent in over 50 currencies, Wise is like the Marco Polo of money transfers. It dominates the digital Silk Road with style and finesse;
Transfer Limits: Whether you’re handling pocket money or contemplating buying a Hollywood mansion, Wise pledges to assist. Limits that stretch from €1 to an incredible €6,000,000 mean you’re always in control;
Fees and Rates: No one likes fees, but Wise’s approach is like the quiet, trusty neighbor who always returns your lawnmower: straightforward and reasonable. With their clear fee structure and spot-on mid-market rates, you’re getting a fair shake every time;
How to Send and Receive: Using Wise is as easy as a walk through the park. Whether you’re using their web platform or the fancy app, you can choose to fund your transfers via a bank account, debit/credit card, or Google Pay/Apple Pay. The recipients can withdraw their money in any way they wish once they land in their Wise account;
Language Support: Wise’s language repertoire would give any polyglot a run for their money, covering 15 languages. And yes, Japanese is certainly on their linguistic list;
Regulatory Approval: When it comes to trust, Wise is like a money vault guarded by the CIA. With nods from top-tier regulators globally, your funds are kept safe and secure at all times;
Mobile App: Imagine having a mini banker on your phone. Wise’s app is your financial genie, granting wishes with just a swipe, and its stellar ratings prove it’s doing everything the right way;
The Trophy Cabinet: Wise doesn’t just sit on laurels – they’re pretty much growing an entire grove! Their awards such as the “Best European Startup” recognition by Europas, are a testament to a job fabulously done;
Customers’ Opinion: Wise is truly a fantastic money transfer service, but they’re not immune to a critique or two. A few customers have raised their eyebrows about paperwork, timeframes, and a few service snags. Even then, Wise are the talk of the town, with more hits than misses. It’s clear that they aren’t just a one-hit-wonder but a consistent powerhouse in the money transfer arena. So, if you want a seasoned player with a fresh approach, Wise is your go-to.

Read our full Wise review.

9. Remitly

remitly international money transfer review

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

Founded: 2011
Headquarters: Seattle, WA, USA
Trading Highs: When it comes to making waves, Remitly is the surfing champion of the financial oceans. A jaw-dropping $20.4 billion in 2021 transactions, backed by a revenue of $458.6 million, isn’t just a statistic – it’s a bold statement of Remitly’s prowess and growing influence;
Trustpilot Rating: With a commendable 4.1-star rating from almost 40,000 voices on Trustpilot, Remitly is more than just a player. They’re a leader, endorsed and approved by the very people they serve;
Client Count: Attracting over 3 million active users, Remitly is one of the big names in the industry that are setting the pace of the game. It’s clear they’re not just catering to needs – they’re crafting experiences;
Global Reach: From the busy streets of Kawasaki to the quiet corners of Hokkaido, Remitly is making its mark. Their reach spans an impressive 180 countries and supports 75 currencies;
Transfer Limits: Whether you’re transferring pocket change or a significant sum, Remitly respects every yen, with limits ranging between $3,000 and $150,000, offering adaptability for every user;
Fees and Rates: Economical and transparent, Remitly’s fee structure is refreshing and most welcome. With most users paying modest amounts and exchange rates that remain competitive in the 1%-2.5% range (over the mid-market rate), they’re a top choice for many;
How to Send and Receive: From the traditional bank methods to the modern wallet solutions, Remitly is like a buffet of financial options, catering to every taste;
Language Support: Serving a global audience, Remitly is fluent in 15 languages (Chinese, Filipino, English, Polish, Turkish, Portuguese, German, Dutch, Romanian, French, Italian, Korean, Thai, and Vietnamese). Given that, Remitly is obviously all ears and ready to help;
Regulatory Approval: Ensuring that every yen is safe, Remitly stands tall with badges of honor from regulatory giants worldwide. With them, your money isn’t just guarded – it’s treasured;
Mobile App: Dive into the digital age with Remitly’s app, which gleams with near-perfect ratings on both Android and iOS. Sending money has never been so seamless when you’re offered an app that can do it all;
The Trophy Cabinet: Awards and accolades are a testament to one’s excellence and commitment. And Remitly’s trophy cabinet, adorned with titles and honors, speaks volumes of their dedication and superiority;
Customers’ Opinion: A symphony of praise highlights Remitly’s efficient service, with user experiences centered on speed, convenience, and competitive fees. While every melody might have an unnecessary note or two, Remitly’s magnum opus remains one of trust and reliability. It’s evident they’re not merely serving transactions but are building trusted relationships for the digital age.

Read our full Remitly review.

10. Key Currency

key currency international money transfer review

	Pros	Cons
1.	Attractive exchange rates	Limited funding methods
2.	Zero transfer fees	No option for instant personalized quotes
3.	No limits on transfer amounts	Lack of support for less-common currencies
4.	Quick money transfers	Services not accessible for residents in the US
5.	Personalized support from dedicated account managers	Absence of a mobile app
6.	Stellar customer service	Not optimal for smaller transfers
7.	Impressive Trustpilot score
8.	Wide-reaching service coverage
9.	Extensive industry experience
10.	Flexible currency hedging options

Founded: 2016
Headquarters: Truro, Cornwall, UK
Trading Highs: Key Currency may not be the largest fish in the sea, but with a £2 billion trade volume in 2022, it’s evident that this growing giant is not to be underestimated in the money transfer marathon;
Trustpilot Rating: Glistening with a 4.9 out of 5 Trustpilot stars, Key Currency isn’t just competing in the trust race – it’s leading it. This rating shines brightly, attesting to its unwavering commitment to exceptional service and customer delight;
Client Count: Key Currency’s 50,000-strong clientele is a significant nod to its expanding influence and efficiency in the world of money transfers;
Global Reach: Though not painting the entire globe, Key Currency’s canvas is distinctly colored, focusing on the UK, the EU, and Australia. Specializing in 37 currencies, it caters to a niche but vital market segment;
Transfer Limits: With Key Currency, there’s no ceiling holding you down or a floor pushing you from below. Whether you’re moving a modest amount or shifting a fortune, they stand ready to assist;
Fees and Rates: What’s better than low fees? No fees. And that’s the promise Key Currency delivers on. Their exchange rate margins, though undisclosed, cater to both small and large-scale transfers, ensuring a value-driven experience for all;
How to Send and Receive: While the absence of a broader array of options might seem limiting, Key Currency’s bank-to-bank approach stands as a testament to its focus on security and simplicity;
Language Support: Language barriers tumble down as Key Currency’s multi-lingual agents bridge communication gaps, making transactions smooth and hassle-free;
Regulatory Approval: With a seal of approval from reputable financial watchdogs, Key Currency ensures your hard-earned money is always in safe, competent hands;
Mobile App: The noticeable lack of a mobile app is a dent in Key Currency’s armor. While this might deter the tech-savvy crowd, their online platform and dedicated account managers ensure that clients aren’t left wanting;
The Trophy Cabinet: Despite its relative youth, Key Currency’s awards shelf is bustling. Consistent recognition over the years signals their prowess and commitment to excellence in the financial domain. For instance, in 2016, they were recognized as the “Best Currency Provider”;
Customers’ Opinion: The echo in the corridors of customer reviews is loud and clear: Key Currency is a game-changer. With heaps of praise for their stellar customer service and competitive rates, the need for wider service outreach and a mobile app remain the only noted areas for enhancement. With that, Key Currency lacks global dominance, but within its focus areas, it is unmatched in terms of service, value, and dedication.

Read our full Key Currency review.

Conclusion

Navigating the realm of international money transfers can be daunting. Yet, as we’ve delved into these ten remarkable services, it becomes evident that global financial transactions aren’t just about moving numbers – they’re about bridging lives, businesses, and opportunities.

Each of these services, in its unique way, has tapped into the pulse of the 21st century remittance needs, offering innovative solutions, competitive rates, and unwavering security.

Japan, with its blend of tradition and cutting-edge technology, stands at a pivotal juncture in this global narrative. As a country that thrives on innovation, Japan has shown increasing interest in digital payment platforms, blockchain technologies, and cashless transactions.

In the coming years, Japan is likely to witness a surge in collaborations between local fintech ventures and these international money transfer giants. This union won’t only cater to the growing expatriate community in Japan but will also tap into the vast Japanese diaspora spread across the globe.

As the sun rises on this new era of digital money transfers, one thing remains certain: the future isn’t just about technology, but about making global connectivity more accessible, more efficient, and more human.

F.A.Q.

Why are money transfer services becoming so popular, especially in places like Japan?

As globalization grows, so does the need for easy, efficient, and secure international transactions. Japan’s blend of tradition and technological innovation makes it a hotspot for such services, catering to its expatriate community and businesses expanding globally.

Are all these money transfer services available for use in every country?

Not necessarily. Each service has its own list of supported countries, both for sending and receiving. For instance, while some cater to the global market, others like Key Currency focus on specific regions such as the UK, EU, and Australia.

How do these money transfer services make a profit if some of them don’t charge fees?

Even if there’s no direct transfer fee, these services often earn through the exchange rate margin – the difference between the rate they get and the rate they offer to customers. Some also have premium features or tiered pricing models for added benefits.

With the rise of cryptocurrencies, how do traditional money transfer services stay relevant?

While cryptocurrencies offer a new paradigm in money transfers, traditional services provide a sense of familiarity, regulatory compliance, and often, more stability. Plus, they cater to a vast demographic not yet comfortable with crypto transactions.

Are mobile apps crucial for these money transfer platforms?

While not an absolute necessity, mobile apps greatly enhance user experience by offering on-the-go transactions, notifications, and ease of use. In today’s digital age, having a robust mobile presence can be a significant advantage for any money transfer service.

How secure are these money transfer services?

Most of these platforms are regulated by top-tier financial authorities worldwide, making them quite secure. They also employ advanced encryption and security measures to protect user data and funds. However, as with all online transactions, users should exercise caution and use strong, unique passwords.

How do these services compare to traditional bank transfers?

Traditional bank transfers often come with higher fees and less favorable exchange rates. Money transfer services tend to be faster, more affordable, and offer more transparency about the fees and rates involved.

What role does the Trustpilot rating play for these services?

Trustpilot ratings offer insight into customer satisfaction and service quality based on user reviews. A high Trustpilot rating often indicates that a company is trusted by its users and provides reliable services.

How do I decide which money transfer service to use?

It depends on your needs – factors like the countries you’re transferring between, the amount, how you want to pay, and how the recipient wants to receive the funds can influence your decision. Reading reviews, comparing fees and rates, and considering the speed and convenience of each service can also help you make an informed choice.

Why do some services have transfer limits while others don’t?

Transfer limits can be imposed due to regulatory requirements, risk management, or the service’s operational model. Some services, especially newer or smaller ones, might have no limits to attract a broader user base, while established ones might set limits based on their business strategies.