Are There Any Cheap International Money Transfer Providers

One of the complaints people make about international money transfers is the excessive fees charged by some providers. On top of that, unfair exchange rates and lengthy paperwork that add salt to the wound.

So, it’s no surprise that people are always looking for a way to protect their hard-earned money and trust only a few providers that offer highly competitive international money transfer services. In this article, we’ll discuss three of the best ones.

TransferGo

TransferGo has gathered a solid customer base by offering safe, easy-to-use, and credible services. TransferGo customers can send money to over 50 countries around the world, but only eight “source of transfer” countries.

Among the biggest selling points for utilizing TransferGo is its “30-minute transfer” feature, helping it become popular. However, that feature only applies to certain countries, transfer methods, and transfer limits. Plus, as the transfer amount goes up, the exchange rate becomes increasingly unfavourable, and you’ll also be charged a recipient fee. 

Azimo

Azimo is a credible international money transfer provider enabling customers to send money to a bank account, a recipient’s smartphone, or one of the +200,000 cash pick-up locations. The fees and exchange rates may differ based on the sender/recipient country and the payment method. For instance, if you use your credit card to make a payment, you must pay an additional 3%.

One of the downsides to using Azimo is its unfavourable exchange rates constitute a substantial fraction of the costs. Since Azimo isn’t always transparent on its rates and fees, customers can’t quickly figure out how much they’ve paid on fees.

Lycaremit

Lycaremit is probably the only service out there that offers sensible exchange rates and fees and provides a £5 credit bonus for every transaction above £300. With Lycaremit, you can send money to a vast number of exotic locations, including India, Benin, Pakistan, and Sri Lanka.

Once you make the transfer, the money arrives in 24-48 hours maximum. Unlike many other competitors, Lycaremit’s customer support team is at your service 24/7, quite valuable for an international money transfer service.

Bottom Line

Hefty transfer fees, unfavourable exchange rates, and long transfer turnarounds have made international money transfers an unpleasant experience for many. Besides, while some companies charge lower fees and provide better exchange rates, they often make up for it by adding hidden fees. Some of them even focus primarily on European countries and take several days for transfers to India.

Therefore, it’s wise to find a company like Lycaremit that provides clear, no-nonsense fees/rates, supports infrequent destinations and provides customer support 24/7. To obtain more information on our services and quotes, please contact us.

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