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

Last Updated on June 6, 2023 by Rodrigo @ OutofYourComfortZone

Top 9 most cost-effective online services for international fund transfers. These platforms are user-friendly and provide instant calculation of transfer fees and the final amount after currency conversion, allowing you to review before initiating the transfer. They support more than 40 different currencies across over 70 countries, including Spain!

Access the full list of the nine best options by clicking here.

While it may not appear directly relevant to travel, this topic can be highly beneficial for travelers and immigrants who require financial transfers to or from overseas. (I will explain later how this article can be advantageous for them).

(By the way, if you or someone you know is planning or interested in living abroad, make sure to visit our page featuring 10 alternatives for residing in other countries).

Here are some scenarios where you can use the services of some of the companies that will be mentioned below to send money to other countries:

You are planning an international trip and would like to save money when exchanging cash. You are preparing for an international trip and want to save money when exchanging currencies.
You are doing an exchange program or studying in Spain and need to receive money from your family in your home country.You are participating in an exchange program or studying in Spain and require financial support from your family back home.
You work in Spain and need to send money to your family in your home country.You are employed in Spain and need to transfer funds to your family residing in your home country.
You need to send money to yourself as you are living in Spain but your money is in your home country.You need to transfer money to yourself as you are living in Spain, but your funds are in your home country.Your spouse is working abroad and needs to send money back to you.
Your spouse is working overseas and needs to send you money.You need to send or receive money from international suppliers/customers.You need to send or receive money from international suppliers or customers. You need to make an international payment (read the end of the article to learn how to avoid fraud!).” to
You need to initiate an international payment (read the article’s end to learn how to prevent fraud!).You’re traveling and you’ve run out of money, and your family needs to send you money to help you continue your journey.
You’re traveling and have depleted your finances. Your family needs to send you money to help you continue your trip.You’ve been the victim of theft while traveling and you need your family to send money to help you out. You’ve been robbed while traveling and require financial assistance from your family.
You are earning a salary in Spain and want to send money back for investments in your home country.You are earning a salary in Spain and want to invest your earnings in your home country.
You have international accounts and need to transfer money to your country.You have international accounts and need to transfer funds to your country.You want to make money transfers abroad completely online, without having to physically go to a bank branch.You want to make online international money transfers without visiting a physical bank branch.

Remember that the website options listed below are suitable for individuals who live or are citizens of any country worldwide, including Portugal, United States, Ireland, Argentina, Spain, among others.

So let’s get started!

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

Throughout this article, you will come across mentions of the “official/commercial exchange rate” and the “tourist exchange rate.”

Essentially, it is always more advantageous to exchange your money at the official/commercial exchange rate or the rate closest to it, as this minimizes your losses when converting currencies. This rate is used in the financial market for large-scale currency transactions (think of it as the “wholesale” exchange rate).

Most of the companies I recommend below utilize the official/commercial exchange rate or something very similar (I will indicate when they don’t).

On the other hand, the tourist exchange rate is what you will encounter when exchanging money at airports, banks, exchange offices, and the like. These establishments employ the tourist exchange rate because they have additional expenses and also aim to earn a profit from your transaction. This is typically the least favorable exchange rate available.

In other words, always strive to exchange currencies using the official/commercial exchange rate rather than the retail/tourist exchange rate. We have indicated below which rate each company employs.

How to save money when exchanging currencies for international travel?

As you may already know (if you’ve read my article on managing money and currency exchange while traveling), using your debit, credit, or prepaid cards abroad incurs a 6.38% IOF tax on each transaction. This can amount to a significant sum of money!

The most cost-effective option would be to exchange money in your home country prior to traveling, purchasing dollars, euros, or other currencies at the official/commercial exchange rates offered by banks or exchange offices, and using them while abroad. However, carrying large amounts of cash while traveling is not advisable, and the rates offered by currency brokers using the tourist exchange rate may not be very attractive, potentially resulting in financial losses during the transaction.

For travelers, a more economical alternative is to utilize one of the options below to send money to family and friends in the countries you will be visiting. Upon arrival, you can then retrieve the money in the local currency from your acquaintances who received the funds on your behalf.

For instance, let’s say I am in Brazil and planning a trip to Australia, where my brother is studying. I can use one of the nine companies listed below to send money to my brother’s checking account. He will withdraw the funds in dollars and return them to me once I arrive in Australia. This way, I avoid the need to exchange money before departing Brazil or immediately upon arriving in Australia.

Now, let’s delve into 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?

#1) BANKS

Many individuals worldwide mistakenly believe that using a bank is a simple and cost-effective method for sending or receiving international funds. However, this assumption is far from accurate!

Sending global transfers through banks can be extremely EXPENSIVE!! Banks typically utilize SWIFT code (or BIC) and IBAN for incoming and outgoing international wire transfers…and they will take advantage of you!

In most cases, they impose a percentage fee on the total transfer amount, accompanied by a fee that can sometimes be almost as high as the transfer itself…and to make matters worse, the exchange rate they offer is often abysmal! Therefore, if you opt to transfer money to another country using a bank, you are likely to incur significant and unnecessary losses.

For instance, when transferring money from an American bank 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 recommended companies below) offers a comprehensive comparison of their rates with those of major banks for international wire transfers (formerly known as HiFX, before its acquisition).

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

Source

#2) and #3) Western Union or MoneyGram

These are two of the most well-known money transfer companies worldwide. Regrettably, this also indicates that numerous individuals utilize them and inadvertently squander their money because they are unaware of superior options.

But if so many other individuals use Western Union and MoneyGram, why should you avoid them?

Because they…

Are extremely expensive and take a substantial percentage of the funds you are sending (For instance, MoneyGram will charge you almost 25% of the amount you are transferring – which is $22 for a $100 transfer…a complete ripoff!)
Don’t offer online options for sending or receiving money (you must personally visit their branch and the recipient must do the same) 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 Spain:

#1) Banks

#2) Western Union

#3) MoneyGram

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

Below, I will list my preferred options based on the cost and convenience of using mobile apps or web platforms. However, I recommend exploring all the available choices to determine which one aligns best with your specific financial needs.

1. Wise (formerly Transferwise)

Wise, previously known as TransferWise, is my top recommendation for cost-effective and user-friendly international money transfers. Developed by the same team behind Skype, it offers a reliable solution.

To utilize Wise, you’ll need a bank account in the currency of the recipient’s country (note that it doesn’t have to be in your name, making it suitable for sending money to friends and family).

Getting started is easy. Enter the desired currencies and the amount you wish to transfer (e.g., Brazilian real to euros) along with the specified sum (e.g., R$1,000). Wise will display the final amount the recipient will receive in euros, inclusive of all fees, taxes, and additional expenses.

It’s worth noting that Wise employs the official exchange rate provided by Google for currency conversion, ensuring you receive the best possible rate, regardless of the direction or currencies involved in the transfer.

Next, input your details and the recipient’s bank information (even if it’s your own account abroad). Wise will generate a bank slip for the transfer, with no extra charge. You can pay the slip at a bank, even if you don’t hold an account there, or conveniently pay it online via internet banking.

In certain cases, depending on the country of origin, you can fund your Wise transfer through domestic transfers, debit cards, or credit cards (though using a credit card may incur an additional fee).

The funds will typically reach the recipient’s account within 1-3 days. While other options exist, Wise remains my preferred choice due to its simplicity and affordability. Nevertheless, it’s advisable to explore different alternatives to find the one that best suits your needs.

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

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 reputable platform renowned for facilitating international money transfers. Similar to Wise and CurrencyFair, Xe offers a comprehensive range of services in this domain.

Moreover, Xe is recognized as one of the largest websites globally for checking exchange rates between any two currencies, including historical values. This functionality proves invaluable for assessing the relative appreciation or depreciation of specific currencies.

To determine transfer fees, it is necessary to create a free account with Xe in advance.

It is worth noting that while Xe does not extend money transfer services to certain countries, it serves as an excellent option for individuals of other nationalities seeking to send or receive funds from various destinations across the globe.

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. WorldRemit

WorldRemit is a reputable company that holds a license and authorization from the National Bank of Belgium, with its headquarters located in Brussels. They provide their services in more than 150 countries, including the United States, the United Kingdom, India, Brazil, and numerous European countries. WorldRemit supports over 90 currencies.

While WorldRemit offers transfers to Brazil, it’s important to note that their website is not available in Portuguese. In addition to money transfers, the company also facilitates mobile top-ups in over 110 destinations. They impose minimal service and exchange fees, and the first international money transfer is free of charge, without any fees.

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. Remitly

Remitly is a well-known name in the international money transfer industry. While initially limited to the United States, it has now extended its services to various countries worldwide.

One of the key benefits of Remitly is its remote transfer service, which allows users to send money to a different country and have it delivered to the recipient’s preferred location in cash using their delivery service.

Apart from the delivery service, Remitly also offers online transfers to traditional or digital bank accounts.

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. CurrencyFair

CurrencyFair operates in a similar manner to Wise, providing a comparable process for money transfers.

However, CurrencyFair has a drawback in terms of its currency coverage, as it supports a more limited range of currencies and does not include certain currencies, such as the Brazilian real.

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. Instarem

Instarem is a fintech company specializing in global currency exchange and money transfer services. Established in Singapore in 2014, the company operates in over 25 countries worldwide, leveraging advanced technology to offer efficient, convenient, and cost-effective financial solutions to its clients.

Instarem prides itself on its highly competitive rates, which are transparently displayed for customers to see. Moreover, the company has introduced a loyalty program that allows users to earn points for their swift and seamless money transfers, regardless of their location.

In addition to its financial services, Instarem also provides a comprehensive range of travel insurance products. These offerings cover various aspects, including medical emergencies, trip cancellations, lost baggage, and other unforeseen events. The insurance solutions are tailored to meet the unique needs of each customer and can be easily purchased through the mobile app or website. Instarem has partnered with leading insurance providers to ensure that customers receive the best possible coverage for their travel needs.

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. Ria

Ria is a global company that offers convenient and reliable money transfer services to people around the world. Since its establishment in 1987, the company has rapidly expanded its international presence and is currently headquartered in the United States.

Ria’s comprehensive range of services includes wire transfers, bank deposits, and bill payments. With over 436,000 agent locations worldwide, the company has a strong presence in more than 160 countries.

Ria is committed to providing safe, easy-to-use, and cost-effective money transfer solutions to individuals and families who want to send money to their loved ones overseas.

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. TransferGo

TransferGo is a reputable provider of international money transfer services catering to European individuals and visitors looking to send money abroad.

While TransferGo offers its services in over 60 countries worldwide, it’s important to note that transfers to Brazil are currently limited to customers with European bank accounts. Nevertheless, the company provides a range of transfer options and competitive rates to its clientele.

TransferGo enables customers to initiate transfers directly from their bank accounts, debit cards, or credit cards, offering flexibility in payment methods. Customers have the choice between fast transfers, which can be completed within 30 minutes, or low-fee economy transfers, which may take up to three days to process.

The transfer process is simple and user-friendly, making TransferGo a convenient and hassle-free solution for international money transfers.

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

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 is a renowned global financial institution specializing in offering money transfer services to individuals and businesses across the world. Founded in Australia in 1988, the company has expanded its reach to several countries, including the United States, Canada, the United Kingdom, and New Zealand. With a focus on customer satisfaction, OFX provides competitive exchange rates, low transfer fees, and personalized services tailored to meet the unique requirements of its clients.

With a commitment to security, speed, and affordability, OFX aims to deliver reliable international money transfer services supported by round-the-clock customer support. The company offers a variety of transfer options, including wire transfers, bill payments, and recurring transfers, catering to the diverse needs of its customers.

OFX is particularly well-suited for individuals and businesses seeking to send significant amounts of money overseas, such as expatriates, international students, and enterprises engaged in global commerce. With a solid reputation for exceptional customer service and a history of customer satisfaction, OFX is a trusted and respected player in the international money transfer industry.

Bonus 3. PayPal

PayPal is a widely recognized online payment platform that facilitates transactions between users. It is commonly utilized for making payments on platforms like eBay and various other e-commerce websites.

Although PayPal does provide international money transfer services, it has a restriction where you can only withdraw funds to a US bank account.

Nonetheless, you can utilize the funds available in your PayPal account to make purchases from online retailers that accept PayPal payments. Additionally, you have the option to transfer your PayPal balance to another PayPal user.

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.

BONUS CRIPTO:

How to do international transfers using digital currency

Virtual currencies like Bitcoin are a recent alternative in the worldwide financial market. Despite being a nascent concept, their adoption is growing steadily.

A notable benefit of digital currencies is the ability to transfer money overseas with very nominal charges as opposed to conventional channels. Additionally, transactions can be processed within minutes, irrespective of the recipient’s location.

Coinbase (for getting digital currencies like Bitcoin, Ethereum, and Litecoin)

I suggest considering Coinbase as a reliable platform for international money transfers using cryptocurrencies like Bitcoin. As the largest cryptocurrency exchange globally, Coinbase has established itself as a reputable and trusted name in the industry.

To begin, create a free account on Coinbase and complete the identity verification process. Then, transfer funds from your bank account to your digital wallet and purchase the cryptocurrency of your preference. Coinbase supports various popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

Once you have acquired the desired cryptocurrency, you can effortlessly send it to anyone worldwide who possesses a digital wallet. Simply enter the recipient’s digital wallet address and initiate the transfer from your own digital wallet.

Upon receiving the cryptocurrency, the recipient can sell it for their local currency, such as Reais, Euros, or Dollars, and transfer the funds to their bank account through Coinbase.

The Coinbase platform is user-friendly, and the entire process is straightforward to navigate. Moreover, if you are interested in investing in cryptocurrencies, Coinbase is a reputable choice due to its size and established track record.

How to invest in Bitcoins or other digital currencies

If you choose to hold onto digital currencies after purchasing them, you have the option to wait for their value to potentially increase and sell them in the future. However, it’s important to note that there is no guarantee that the currency will appreciate in value, and in fact, it can even decrease 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:

Wise
Xe
World Remit
Remitly
Currency Fair
Instarem
Ria
TransferGo
OFX
Paypal
Coinbase

In Brief….

Like any important financial decision, it is essential to conduct thorough research and compare alternatives when it comes to international money transfers. By dedicating time to compare exchange rates, transfer fees, and other factors, you can greatly reduce the amount of money spent on sending or receiving funds.

To streamline the process, you can select a specific amount, such as $500 USD, and evaluate each of the previously mentioned options to determine which one provides the highest value in terms of the amount received. Although this may require some additional effort, it can ultimately help you save money and secure the most advantageous 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

Conclusion…

We have reached the conclusion of this guide on making international money transfers conveniently, affordably, and securely. If you have any questions or concerns, please feel free to leave a comment in the section below, and I will make sure to address them as promptly as I can.

Planning your next trip?

Then don’t forget travel insurance! You don’t want to get stuck paying a ton of money and ruining your trip if you get sick or have an accident without travel insurance. WorldNomads is ideal for adventurous travelers, backpackers, or anyone looking to be protected during their trip. They cover almost every single activity you can image! Plus, you can have a 5% discount with the coupon code comfort5.

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!

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.

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!