7 Cheapest Ways to Receive, Send, and Transfer Money from Panama

Discover the top 9 online platforms that offer highly cost-effective solutions for international money transfers. These user-friendly platforms provide instant calculation of transfer fees and the converted amount, ensuring transparency before finalizing the transaction. Supporting over 40 currencies and operating in more than 70 countries, including Panama, these platforms cater to the needs of travelers and individuals seeking to send money to relatives residing overseas.

To access the complete list of the best nine options, click here.

While it may not appear directly relevant to travel, this information can be incredibly valuable for those planning to relocate or travel abroad. (I will elaborate on this shortly).

(Also, don’t forget to visit our page featuring 10 alternative countries for relocation, in case you or someone you know is considering moving abroad).


Money Transfer Panama



Here are some scenarios in which you might find the services of the companies mentioned below useful for sending money to other countries:

  • This could involve scenarios like planning a trip overseas and aiming to save on currency exchange;
  • participating in a study abroad program or studying in Panama and requiring financial assistance from your family in your home country;
  • supporting family members studying or working abroad and needing to send money to another country;
  • being employed in Panama and needing to send money to your family back home, transferring funds to yourself as you reside in Panama but your funds are in your home country;
  • your spouse working overseas and needing to send you money, conducting transactions with international suppliers or customers;
  • making international payments while being cautious of scams, running out of money while traveling and needing support from your family to continue your journey;
  • encountering unfortunate circumstances like theft while traveling and requiring financial help from your family;
  • earning a salary in Panama and wishing to send money back home for investments, managing international accounts and necessitating money transfers to your home country;
  • or desiring to perform online international money transfers without the need to visit a physical bank branch.

The online platforms mentioned below are accessible to residents or citizens from any country worldwide, encompassing Portugal, the United States, Ireland, Argentina, Spain, and more. With their user-friendly interfaces, instant calculation of transfer fees and final amounts after conversion, and support for over 40 currencies across more than 70 countries (including France!), these platforms facilitate secure and cost-effective international money transfers.

Let’s dive in!


receive money from abroad 3



Important note: Official/spot exchange rate vs. retail/tourist exchange rate

In this article, we will delve into the difference between the “official/commercial exchange rate” and the “tourism exchange rate.”

Essentially, opting for the commercial exchange rate or a rate very close to it is always more advantageous as it minimizes losses during currency conversion. The commercial exchange rate is the rate used in the financial market for trading large sums of money, similar to wholesale exchange rates.

Most of the companies we recommend below utilize the official/commercial exchange rate or a rate very close to it, with a few exceptions that we will mention.

On the other hand, the tourism exchange rate is the rate offered by airports, banks, and exchange offices when you exchange money. They use this rate because they have additional costs and aim to profit more from the transaction. This is the least favorable exchange rate.

Therefore, it is always advisable to exchange currencies using the official/commercial exchange rate rather than the retail/tourist exchange rate. We have specified which rate each company uses in the list below.


How to Send Money Abroad and Save Money While Traveling?

As you may recall from our previous article on managing money and currency exchange while traveling, using your debit, credit, or prepaid card overseas incurs a 6.38% IOF charge on each transaction, resulting in a significant amount of money being lost.

The most cost-effective option is to exchange money in your home country before traveling, obtaining dollars, euros, or other currencies at commercial rates from banks or exchange offices, and using them while abroad. However, carrying a large amount of cash while traveling is not recommended, and the rates provided by exchange brokers are tourist rates, which may not be very favorable, resulting in a loss of money.

A more economical alternative for travelers is to use one of the options below to send money to family and friends in the countries you plan to visit during your trip. Upon arrival, you can retrieve the money in the local currency from the individuals who received your money from your home country.

For example, if you are in Brazil and planning to travel to Australia where your brother is studying, you can utilize one of the nine companies listed below to transfer money to your brother’s checking account. He can withdraw the money in dollars and return it to you upon your arrival in Australia. This way, you avoid the need to exchange money before leaving Brazil or upon arriving in Australia.

Now, let’s explore the nine best and most cost-effective companies and websites for sending, receiving, and transferring money abroad. But first…


What’re the 3 ways you should NEVER send and receive money abroad?



Many individuals worldwide mistakenly believe that using a bank is a convenient and cost-effective method for sending or receiving international funds. However, the reality is quite the opposite!

International transfers through banks can be EXPENSIVE! Banks utilize SWIFT code (or BIC) and IBAN for inbound and outbound global wire transfers… and they will take advantage of you!

They often charge a percentage of the total transfer amount, along with a fee that can nearly match the transfer itself… and to make matters worse, the exchange rate they offer is unfavorable! Consequently, if you send money to another country via a bank, you’re likely to unnecessarily lose a significant sum of money.

For instance, when using an American bank to transfer money to a European bank, fees can quickly accumulate to at least $45 for a single wire transfer (in addition to receiving a poor exchange rate).

Xe (one of the companies I recommend below) provides a comprehensive comparison of their rates versus those of major banks for global wire transfers (formerly known as HiFX, which they acquired).


international wire transfers


And this table gives you an idea of the fees charged by banks for incoming and outgoing international wire transfers…ouch!



#2) and #3) Western Union or MoneyGram

send money abroad 9 international transfers





These are two of the largest money transfer companies worldwide. Unfortunately, this also implies that many people use them and unwittingly waste their money, simply because they are unaware of better alternatives.

But if so many others use Western Union and MoneyGram, why should you steer clear of them?

Because they…

  • Are exorbitantly costly and charge a significant percentage of the funds you are sending (For example, MoneyGram will charge you nearly 25% of the amount you are transferring – which is $22 for a $100 transfer…an absolute ripoff!)
  • Do not provide online options for sending or receiving money (you must personally visit their branch and so must the recipient) Typically use the retail/tourist exchange rate (also known as the unfavorable rate)


One last time, here are the 3 ways you should NOT do international transfers to Panama:

#1) Banks

#2) Western Union

#3) MoneyGram


international wire transfers 1



Then what are the cheapest and most practical ways to do international money transfers?

Now, I will present my suggested choices based on their affordability and user-friendliness, whether through mobile apps or online platforms. However, I recommend exploring all available alternatives to determine which one best suits your needs and financial situation.


    1. Wise (formerly Transferwise)Wise

In my opinion, Wise (formerly known as TransferWise) is an excellent and cost-effective option for sending money globally. I personally recommend this service and use it frequently.

To utilize Wise, you will need a bank account in the recipient’s currency, even if it is under someone else’s name, making it ideal for sending money to family and friends. You can specify the currency and amount you want to transfer, such as BRL to EUR, as well as the desired transfer amount, like BRL 1,000. Wise will calculate the final amount that the recipient will receive in euros, including all fees, taxes, and other charges.

It is important to note that Wise uses Google’s official exchange rate for BRL to EUR conversions, ensuring that you receive the best possible rate, regardless of the transfer direction or currencies involved.

To proceed, you will need to provide your information, including the recipient’s banking details, even if it is an international account. Wise will generate a payment slip for you to pay the transfer amount, and there are no additional fees for issuing the slip. You can pay the slip at a bank, even if you don’t have an account there, or make an online payment using internet banking from your own home.

In some cases, depending on the country of origin, you can transfer funds to Wise using a domestic transfer, debit card, or credit card (with an additional fee for credit card payments).

Typically, funds arrive in the recipient’s account within 1-3 business days, although the timeframe may vary depending on the location.

international transfers 6

 outgoing international wire transfers 4


And notice that the currency exchange rate from Wise is pretty much the same as the official one given by Google!


international transfers 4 international transfers 5


Pros of using Wise for international money transfers:

  • It’s the cheapest way to transfer money I’ve found– their fee is only around 0.35% of the total transfer value
  • They use the official exchange rate (which is much better than the “tourist” exchange rate)
  • It’s super practical – you can do everything online
  • It’s cheaper and easier than sending money internationally using banks
  • There isn’t a minimum transaction amount
  • You can use Wise to transfer money overseas for your Business and pay suppliers or employees
  • You can send money to more than 40 countries plus all the countries that use the Euro (19 in total) *
  • You can receive payments worldwide


By the way, if you want to send money to Spain, Portugal, Ireland, or other countries that use the Euro, the process is the same. All you need is to select Euro when you begin your transfer and then put the info of the bank account in the country receiving the money.


*Countries that use the Euro:

Germany, Austria, Belgium, Cyprus, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, The Netherlands, Portugal, Andorra, Monaco, San Marino, the Vatican, Kosovo, Montenegro.


Cons of using Wise for international money transfers:

  • Until recently, it was not possible to send money if the person did not have a current account in the destination country of the transaction. But now, with Wise’s digital and physical cards, you can make payments directly from your account on the platform, but check availability in your region!

However, if in the country you are in this service is not yet available, an easy way to circumvent this problem is by using the checking account of someone you trust. Here in Sweden, for example, I helped a fellow Brazilian receive money here from his family in Brazil. They transferred the money to my Swedish bank account, I withdrew the money from the ATM and gave it to him.


Personal experience with Wise:

I’ve used Wise to send money from the United States to Brazil (which can be done with a credit card!), from the United States to Sweden, from Australia to Sweden, from Australia to Sweden, and from Sweden to the United States. It’s always worked smoothly for me! So, I’d definitely recommend it.


If you want to see, here’s a video explaining how Wise works:




    2. Xe

Xe is a well-known platform that offers global money transfer services to individuals. Just like CurrencyFair and Wise, Xe also facilitates international money transfers.

In addition, Xe is one of the largest websites worldwide that allows you to check exchange rates for any two currencies, including their historical values. This feature is incredibly useful in determining whether a particular currency is appreciating or depreciating in relation to another.

To view transfer fees, you will need to register for a free account with Xe.

It’s important to note that Xe does not offer money transfer services to certain countries. However, it remains an excellent option for individuals from other nations who wish to send and receive money internationally.



PROS of using Xe for international money transfers:

  • Xe does not have a minimum or maximum limit for the transfer value.
  • They charge a relatively low fee to send and receive money from abroad (for example: for transfers up to 500 USD a fee of 3 USD is charged)
  • They don’t charge any fees to send or exchange abroad
  • They use a rate close to the official rate
  • It’s super practical – you can do everything online
  • You can send money to more than 26 countries plus all the countries that use the Euro

You can see which currencies they work with on their homepage here.

And you can easily sign up on Xe for free to check how much you’d save on a transfer.


Cons of using Xe to transfer money:

  • They don’t with all currencies
  • You must open an account before getting a quote for the cost of your transfer…..but it’s free to open an account and super fast
  • Sometimes it costs more to transfer with Xe than with Wise or CurrencyFair because their rates aren’t always as good (you’ll have to compare for your individual transaction to see what is best)


My personal experience with Xe: 

Honestly, I’ve never used Xe. But I have a friend who tried using it to send money from the United States to Sweden and she said everything worked just fine and the cost was pretty good. Plus, I use them all the time to check currency exchange rates when I’m traveling overseas. 



   3. WorldRemitworld-remit

WorldRemit is a reputable company headquartered in Brussels and authorized by the National Bank of Belgium. They have a wide global presence, operating in over 150 countries, including the United States, the United Kingdom, India, Brazil, and various European countries. With WorldRemit, you can conveniently conduct transactions in over 90 currencies.

In addition to money transfers, WorldRemit offers mobile top-ups in more than 110 locations. They have low service and exchange fees, and the best part is that the first international money transfer is free of charge. This makes WorldRemit an attractive option for individuals seeking to send money overseas.


world remit to brasil


Pros of using WorldRemit for international money transfers:

  • Low fees and first free transfer
  • Services available in several countries
  • Cell phone recharge option


Cons of using WorldRemit for international transfers:

  • No website in Portuguese


Personal experience with WorldRemit: WorldRemit really does work at low rates, so it’s worth making a quote through this site and comparing it to others on the list. Also, your first download is completely free!



   4. Remitlyremitly logo

Remitly has emerged as a significant contender in the global money transfer industry. While it initially focused on serving the United States, it has now expanded its services to numerous other countries worldwide.

A notable advantage of Remitly is its remote remittance service. This feature allows users to send money to another country and have it conveniently delivered to the recipient’s preferred location in cash, courtesy of Remitly’s delivery service.

Moreover, Remitly facilitates online transfers to both traditional and digital bank accounts, providing users with a range of options for transferring funds securely and efficiently.


A forma mais barata de transferir dinheiro do exterior para o Brasil


Pros of using Remitly for international money transfers:

  • Remittance option delivered in cash to the desired address;
  • Simple and super practical interface;
  • Transfer option for digital accounts.


Cons of using Remitly for international transfers:

  • The site is not available in Portuguese;
  • Compared to other companies on the list, it does not work with a large number of countries.


Personal experience with Remitly:

I’ve never used Remitly, but user feedback is pretty positive. This is really a great option if you need to send money to someone who is not comfortable with technology or if you need cash on hand for a trip, for example.



    5. CurrencyFairinternational transfers 0

CurrencyFair operates in a similar manner to Wise, employing a comparable process for transferring funds. However, there are certain distinctions to note. CurrencyFair has some limitations, as it supports only a select number of currencies and does not offer services for certain currencies, including the Brazilian reais.


international transfers 2
send money abroad 0 send money abroad 2


send money abroad


Pros of using CurrencyFair for international money transfers:

  • It’s a super cheap way to send and receive money from other countries – they only charge around 0.35% of the total value, like Wise does
  • They use the official exchange rate (which is much better than the “tourist” rates banks use)
  • It’s super practical – you can do everything online
  • You can send funds to more than 18 countries, including those that use the Euro
  • As with Wise, you can use CurrencyFair for your Business to pay suppliers or employees
  • It’s cheaper and faster than doing international transfers with a bank
  • There isn’t a minimum transaction amount
  • Now they are also working with Indian Rupee (INR)


Cons of transferring money with CurrencyFair:

  • It only works with about half the number of currencies Wise does


Personal experience with CurrencyFair:

I’ve also used CurrencyFair to send money from the United States to Sweden, and it worked just as well as Wise did.

Here’s a quick video on how to sign up for free:



And how to do a transfer with CurrencyFair:




   6. InstaremSeguro Instarem

Instarem is a fintech company specializing in global currency exchange and money transfer services. Founded in Singapore in 2014, the company operates in over 25 countries and leverages advanced technology to deliver efficient, convenient, and cost-effective financial solutions to its customers.

Instarem offers competitive and transparent rates, providing customers with visibility into their transfer costs. Additionally, the company has a loyalty program that enables users to earn points while making quick and easy money transfers from anywhere.

In terms of travel insurance, Instarem offers comprehensive coverage for medical emergencies, trip cancellations, lost baggage, and other unexpected events. The company customizes its insurance products to meet the unique needs of each customer and facilitates their purchase through its mobile app or website. Instarem also collaborates with top insurance providers to ensure customers receive the best possible coverage.


Seguradora Instarem


Seguradora Instarem


Pros of using Instarem for international money transfers:

  • The company is present in more than 25 countries, which allows it to serve a wide variety of customers around the world. In addition, the company’s geographic expansion has been constant and promising.
  • Great Value: Low fees. Great exchange rates. nothing hidden
  • Secure and reliable: Industry-leading technology moving $4 billion annually
  • Rewards: Send money and earn points to enjoy even greater value
  • Save time: skip the lines and send money quickly
  • Anytime, Anywhere: Send money anywhere with our app


Cons of transferring money with Instarem:

  • Transfer Fees and Limitations: Like any financial services company, Instarem charges money transfer fees and sets limits on transactions. This can make the company’s services less accessible to customers with lower purchasing power or who need to send large amounts of money.


Personal experience with Instarem:

Although I have never used Instarem, user feedback is generally very positive. This can be an excellent choice if you need to send someone money!



   7. RiaSeguro Ria

Ria is a well-established financial services company that offers international money transfer solutions to individuals worldwide. Founded in 1987 and based in the United States, Ria has built a strong global presence.

Ria’s comprehensive range of services includes wire transfers, bank deposits, and bill payments. With a network of over 436,000 agent locations spanning across 160 countries, the company has a vast and extensive reach.

Their primary objective is to provide secure, convenient, and cost-effective options for sending money to family and friends around the world.


Seguradora Ria

Seguros Ria


Pros of using Ria for international money transfers:

  • Ria has a global presence with over 436,000 agent locations worldwide, which makes sending and receiving money more convenient for its customers;
  • Ria offers a wide range of payment options, including wire transfers, bank deposits and bill payments.


Cons of using Ria for international transfers:

  • Ria imposes daily and monthly limits on the amount a customer can transfer, which can be an inconvenience for those who need to send large amounts of money;
  • Ria may charge additional fees, depending on the destination country and the payment method selected by the customer;
  • Ria may require customers to go through an identity verification process, which can be time consuming and inconvenient.


Personal experience with Ria:

Although I don’t have personal experience with Ria, user feedback is often highly positive. This can be an excellent option if you need to send someone money.



Bonus: Online International Money Transfer Companies


   Bonus 1. TransferGoBest ways to transfer money from Europe to Brazil

TransferGo is a well-known financial institution headquartered in Europe, specializing in international money transfer services for European residents and travelers looking to send money abroad.

With a presence in over 60 countries worldwide, TransferGo offers its services to customers across the globe, except for Brazil, where it is limited to customers with European bank accounts. The company provides various transfer options with competitive fees.

Customers can initiate transfers using their bank account, debit card, or credit card. TransferGo offers both fast transfers that can be completed within 30 minutes and low-cost economic transfers that may take up to three days to finalize.

The transfer process is designed to be user-friendly and straightforward, making TransferGo a convenient choice for individuals seeking to make international money transfers.

When making transfers with TransferGo, you can use this code or coupon: HMSESq


Best ways to transfer money from Europe to Brazil


Pros of using TransferGo for international money transfers:

  • There are no daily limits for transfers on TransferGo
  • They work with fast transfer options (for a fee of £2.99)
  • They allow transfers directly from your bank account, debit card or credit card to foreign accounts
  • They have a simple and practical interface to receive money from abroad


Cons of using TransferGo for international transfers:

  • Each transfer may not exceed the $30,000.00 limit
  • It is not possible to transfer money from the USA, Canada, among other countries to Brazil


Personal experience with TransferGo:

If you are looking for a company to transfer money from Europe to the rest of the world, this is a great option. In my experience, the whole process is done very simply and cheaply.



   Bonus 2. OFX OFX Logo

OFX is a reputable financial institution specializing in international money transfer solutions for individuals and businesses. Founded in Australia in 1988, the company has expanded its operations to multiple countries worldwide, including the United Kingdom, Canada, the United States, and New Zealand. OFX is known for providing highly competitive exchange rates and minimal transfer fees, along with personalized services tailored to meet the specific needs of its clients.

With a focus on security, speed, and cost-effectiveness, OFX aims to deliver prompt and reliable money transfer services backed by 24/7 customer support. The company offers a range of transfer options, including recurring transfers, wire transfers, and bill payments.

OFX is the preferred choice for individuals and businesses requiring the transfer of significant sums of money overseas, such as international students, expatriates, and companies engaged in international commerce. With a strong track record of customer satisfaction and service, OFX has established itself as a trusted and renowned name in the global money transfer industry.


Insurance OFX


Pros of using OFX for international money transfers:

  • Low transfer fees: OFX charges a low transfer fee or even no fees for transfers above a certain amount, depending on the country of origin and destination.
  • Customized Services: OFX offers customized services to meet each customer’s individual needs, including scheduled transfers, wire transfer options and bill payments.
  • Customer support available 24/7: OFX offers 24/7 customer support to ensure you get help whenever you need it.
  • Extensive transfer options: OFX offers a wide range of transfer options, including wire transfers, bill payments and scheduled transfers, allowing you to choose the option that best suits your needs.

Cons of transferring money using OFX:

  • OFX doesn’t support all currencies, so there may be some limitations on which countries or regions you can send money to.
  • Also, while OFX offers competitive exchange rates, it is possible that other companies or services may offer even better rates at certain times.
  • Finally, transfer processing time can take a few business days, which can be inconvenient if you need to send money urgently.

Personal experience with OFX:

Although I haven’t had the opportunity to personally use OFX’s services, user reports are often highly positive. Based on this positive review, OFX can be considered an excellent option for those who need to send someone money.



   Bonus 3. PayPal

Paypal is a widely used digital payment platform that allows users to engage in transactions with multiple parties. Many people are familiar with Paypal from their experience shopping on eBay, where it is commonly used for purchases.

Although Paypal does offer international money transfer services, it is important to note that a US bank account is required to withdraw funds. However, there are alternative options available to utilize the funds in your Paypal account. For instance, you can use your Paypal balance to purchase products from online merchants that accept Paypal payments, including platforms like eBay. Additionally, you have the option to transfer your Paypal balance to another individual, providing a convenient way to send money to family or friends.


international transfers 1


Pros of using Paypal for international transfers:

  • It’s a very easy and practical way to send/receive money between almost any two people in the world
  • It’s very popular
  • You can use it to send/receive payments from overseas from any person that also has Paypal (since you only need an email to open an account)
  • It’s super practical – you can do everything online.
  • Works for people from all over the world (although you can only withdraw the money if you have a U.S. bank account)
  • There’s no minimum transaction


Cons of using Paypal for international transfers:

  • You can’t take money out of your Paypal wallet (if someone sends it to you) unless you have a bank account in the United States (otherwise, you’ll have to leave it in your Paypal account and can only use the money to buy things on websites that accept Paypal, like eBay)
  • They charge a 3% fee on some transfers
  • They don’t use the official exchange rate (they use the retail/tourist rate instead), so you’ll lose some money when you exchange from one currency to the other


Personal experience with Paypal:

I use Paypal directly to buy things on eBay and to receive payments from a few companies that only pay with Paypal. But I don’t use it for international transfers because I think the exchange rate is bad and the options above are better, so it’s up to you.




How to do international transfers using digital currency

Digital currencies, like Bitcoin, have emerged as a relatively recent asset class in the global financial market and have attracted considerable attention.

One notable benefit of cryptocurrencies is their capacity to enable low-cost international money transfers, significantly faster than traditional methods. Moreover, these transactions can be completed within minutes, without being limited by geographic boundaries.


  • Coinbase (for getting digital currencies like Bitcoin, Ethereum, and Litecoin)receive money from abroad 1

I recommend considering Coinbase as a reliable platform for international money transfers using cryptocurrencies like Bitcoin. It currently stands as the largest cryptocurrency exchange globally and enjoys the trust of numerous users.

To get started, sign up for a free Coinbase account and provide your personal information. Then, transfer funds from your bank account to your digital wallet and purchase the cryptocurrency of your preference. Coinbase supports popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

Once you have acquired the cryptocurrency, you can send it to anyone worldwide who possesses a digital wallet. Simply enter their wallet address and initiate the transfer through your digital wallet.

Upon receiving the cryptocurrency, the recipient can convert it into their local currency, like Brazilian reais, Euros, or Dollars, and transfer it to their bank account using the Coinbase platform.

The platform is user-friendly, and the process is straightforward. Additionally, if you’re interested in cryptocurrency investments, Coinbase serves as an excellent choice due to its size and reputation.


international transfers 3



How to invest in Bitcoins or other digital currencies

Opting to retain digital currencies after purchasing them gives you the opportunity to wait for their value to rise, and potentially sell them in the future. Nonetheless, it is vital to bear in mind that there is no assurance that the currency will appreciate in value, and it is possible that it could even decline in value.

So be careful with investing in digital currencies! Don’t use money that you’ll need in short or midterm!


Pros of using cryptocurrency for international transfers through Coinbase:

  • It’s a cheap way to send money between almost any two countries in the world
  • It’s getting more and more popular
  • You can use your bank account, debit card, or credit card to do the deposit into your digital wallet in Coinbase
  • You can use it to receive payments from overseas from any person that has their own digital wallet (your digital wallet can be through Coinbase or any other platform that works with cryptocurrency)
  • It’s very easy – you can do everything online
  • There’s no minimum transaction


Cons of using cryptocurrency for international transfers through Coinbase:

  • The value of the digital currencies still varies a lot (AKA: it’s highly volatile), so it’s possible that the amount you send may already be worth more or less by the time it arrives at the destination
  • You have a pay a fee of a small percentage of the total value you deposit in Coinbase. If you use a credit card, this fee can be up to 3%
  • It can take a few days for the purchase of Bitcoin to be finalized. With Ethereum and Litecoin, the buy and sell confirmation is faster
  • It’s a new market and many people still don’t know how it works


Personal experience with Coinbase:

On a previous occasion, I opted to use digital currencies to pay for an online purchase, as it was more cost-effective compared to using credit cards. I chose to utilize Coinbase to purchase a small amount of Bitcoins and transferred them to the online store. The process was straightforward and the transaction went smoothly.


Summing up…

The 7 cheapest ways to receive, send, and transfer money abroad:

  1. Wise
  2. Xe
  3. World Remit
  4. Remitly
  5. Currency Fair
  6. Instarem
  7. Ria
  8. TransferGo
  9. OFX
  10. Paypal
  11. Coinbase


In Brief….  

When it comes to international money transfers, it’s crucial to conduct thorough research and compare your options. Various factors, including exchange rates and transfer fees, can significantly affect the amount of money you send or receive.

To simplify the process, you can select a specific amount, such as $500 USD, and test each of the aforementioned options to assess which one provides the highest value in terms of the amount received. While this may require some additional effort, it can ultimately save you money and guarantee that you secure the best possible deal.

Protect yourself against fraud and common scams with international money transfers!!

Use only the companies listed above to transfer money to trusted individuals or reputable companies with positive feedback. Do not transfer money to anyone you don’t know personally. Additionally, be cautious if a family member or friend sends you an urgent message requesting money but you are unable to contact them through phone, Skype, WhatsApp, or other reliable means.


By paying attention to strange signs like the ones below, you can tell if you’re being the victim of a scam or not….and then avoid it if you are. Think very carefully before making a transfer. If you’re not sure, don’t take the risk!

Don’t send/transfer money to people or companies:

  • If you or your family/close friends don’t know them personally
  • For a deposit to buy a property or a rent payment. Take note of this one because it is one of the most common scams for people that live abroad!  ONLY send them if you are personally in the city where you are renting and you have personally visited the property & met with the agent/landlord of the place that’s to be rented or purchased. Seriously, this scam is a lot more common than you think….and a lot of people who move abroad get screwed by it!
  • To buy something online. You shouldn’t have to use an international transfer for this, better to use a credit card or Paypal (which have payment protections)
  • From a place claiming to protect you from a virus that doesn’t accept credit cards (since all trusted antivirus companies should)
  • For an emergency situation that hasn’t been confirmed by a friend or family member
  • To “redeem” lottery winnings or prizes….another super common scam!
  • To make charitable donations. Ask for another way to contribute…be wary of any charity asking for international money transfers
  • To start working as a mystery shopper. You should never have to pay for this, it’s free!
  •   To get a job….this is always a scam! Don’t pay a company to start working with them!
  • For a credit card fee or loan. These fees are ALWAYS paid via your credit card and not through international money transfers

Use only the companies listed above to transfer money to trusted individuals or reputable companies with positive feedback. Do not transfer money to anyone you don’t know personally. Additionally, be cautious if a family member or friend sends you an urgent message requesting money but you are unable to contact them through phone, Skype, WhatsApp, or other reliable means.



And with that, we wrap up this guide on secure, affordable, and user-friendly international money transfers.

If you have any questions or concerns, feel free to leave them in the comment section below. I’ll be more than happy to assist you and provide prompt responses.


Planning your next trip?


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Already reserved your hotel or hostel? If not, we recommend Booking.com. They have a huge selection of hotels and hostels all over the world. Plus, in most cases, you can cancel your reservation up to a few days before the check-in date without any costs! 


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Still haven’t booked your plane ticket and want to save big? Take a look at Momondo. It’s a flight aggregator that combines several other ticket search websites to make it easier for you to compare prices and make sure you are getting the best deal. 


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And finally, will you need to rent a car during your trip? Then check out Rentalcar.com to search and compare car rental companies from all over the world in a single website. Then, you can find the cheapest price for the best car!




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