9 Best Apps for Sending and Receiving Money from Abroad
The world is becoming increasingly interconnected, and with the help of the internet, sending and receiving money from abroad has never been easier. Whether you need to transfer funds for business purposes or send money back home to your loved ones, there are several apps available on both Android and iOS platforms that can facilitate these transactions efficiently and securely. In this article, we will explore some of the best apps for sending and receiving money from abroad.
1. TransferWise
TransferWise has gained a reputation for being one of the most reliable and cost-effective options for transferring money across borders. With the backing of Sir Richard Branson, TransferWise offers peer-to-peer money transfers that are 90% cheaper than traditional banks. By charging inter-bank fees to its customers and a minimal 1% fee of its own, TransferWise provides a low-cost solution for transferring money worldwide. The app also allows users to pay bills in other countries and offers real-time exchange rates and support for debit and credit cards.
Pros:
- Allows transfers up to $1 million
- Low inter-bank fees
- Quick and easy to use
- Fair exchange rates
- Supports multi-currency accounts
Cons:
- Limited availability
Download TransferWise: Android | iOS
2. Western Union
Western Union has long been a trusted name in the money transfer industry. With a wide range of supported currencies and payment options such as cards, Apple Pay, and bank transfers, Western Union offers convenience and accessibility. However, it is important to note that Western Union's exchange rates and fees can be higher compared to other options. It is advisable to check the rates and fees before making a transfer.
Pros:
- Widely available
- Works in various locations, including airports
Cons:
- Higher fees
- Unfair conversion rates
Download Western Union: Android | iOS
3. PayPal
PayPal revolutionized the way people conducted business globally. It provides a convenient way for freelancers and small businesses to receive payments. However, PayPal's fee structure can be complicated, with a minimum fee of 2.9% plus $0.30 cents. Additionally, PayPal's conversion and bank withdrawal charges make it one of the more expensive options for transferring money internationally.
Pros:
- Easy to use
- Widely available
- Powerful API for app integration
Cons:
- Higher fees
- Unfair exchange rates
Download PayPal: Android | iOS
4. OFX
OFX has been gaining popularity in recent years due to its competitive rates and free transfers. While the minimum sending limit is $1000, there is no maximum limit. OFX offers bank-to-bank transfers with a fixed exchange rate markup of 1.5% and fees ranging from $15 for amounts under $10k to potentially 1% or less for larger transfers.
Pros:
- No fees
- No maximum limit
- Competitive exchange rate fees
Cons:
- Higher minimum amount compared to other options
5. WorldRemit
WorldRemit offers both bank transfers and cash pickups in multiple countries. One of its standout features is the quick transfer and processing time, often measured in minutes. While fees can vary based on the destination and amount, WorldRemit provides a fast, easy, and cost-effective solution for sending money abroad.
Pros:
- Low fees
- Easy to use
- Widely available
Cons:
- None
Download WorldRemit: Android | iOS
6. MoneyGram
MoneyGram is a well-established company with a robust network of over 350,000 locations worldwide. It offers fast transfers and the option to pay bills abroad. However, like Western Union, MoneyGram's exchange rate markups can be as high as 3%, making it a more expensive option. It is important to consider the fees and exchange rates before choosing MoneyGram.
Pros:
- Fast transfer
- Easy to use
- Wide availability
Cons:
- Higher fees
Download MoneyGram: Android | iOS
7. Azimo
Although not as widely known as some other apps on this list, Azimo offers a growing network of over 300,000 pick-up points globally. With fees starting at £1, Azimo provides a fast and affordable way to send and receive money from abroad. It also integrates with iMessages on iOS devices for easy money transfers.
Pros:
- Fast transfer
- Claims low fees
Cons:
- No detailed breakdown of fees
8. CurrencyFair
CurrencyFair offers an easy and cost-effective solution for transferring money internationally. While it may not be as well-known as other apps, CurrencyFair provides competitive rates, with a quoted rate of $1000 to Euro 873. The fees for international transfers start at £2.5 and an exchange rate margin of £8.5 for £2000.
Pros:
- Low fees
- Low exchange rates
Cons:
- Less availability
Download CurrencyFair: Android | iOS
9. Xoom
Xoom is a popular option for transferring money abroad quickly. With individual transfer limits set at $25,000, Xoom offers low fees and the ability to send money within minutes. However, it is important to note that Xoom's exchange rate markups can be high, and availability is limited to 70 countries.
Pros:
- Very fast transfer
- Low fees
- Owned by PayPal
Cons:
- Exchange markups can be high
- Not widely available
In conclusion, there are several options available for sending and receiving money from abroad. The choice of the app will depend on factors such as the amount to be transferred, the destination, and the fees and exchange rates offered by each provider. It is recommended to compare rates and fees before making a decision.

Jim's passion for Apple products ignited in 2007 when Steve Jobs introduced the first iPhone. This was a canon event in his life. Noticing a lack of iPad-focused content that is easy to understand even for “tech-noob”, he decided to create Tabletmonkeys in 2011.
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