Sending money internationally is not uncommon nowadays. The world is getting smaller and smaller because of technology. Families who live in different countries can now send money to each other with ease. For many, it is also for receiving and sending salaries, particularly for employers who outsource their team for telecommute jobs. Whatever the purpose, sending money overseas has become even more accessible today.

The top two criticisms about sending money overseas have to do with its safety and the added costs that will be involved. But thanks to technology, there are now numerous mediums for you to accomplish both a safe and less costly way to send money overseas. That said, here are some of these ways:

1. Through Banks

Before international and digital online transfers came into place, the more traditional means of transferring money was through bank transfers. If you really want to factor in the safety of your transaction, then no doubt, the bank should be the way for you to go. However, you may have to prepare yourself for a more expensive fee than other means.

Sending money overseas through banks has made it to this list mainly if you are looking to send a considerable amount of money, as it is still best for you to send this through a bank. There is very little room for error or fraud when you send through a bank. Plus, the money immediately gets deposited on the bank account of the receiver, making it a very secure way of sending. Hence, if you do not mind the considerably high markup fee as you are also sending a considerable sum of money, then this is the way for you to go. If you are sending only small amounts of money, then you should continue reading along this list for better and cheaper options instead.

An exception to these high charges, however, is HSBC. This bank is an international bank, with branches all over the world. If you have an account with HSBC, and your recipient also has an account in this bank, you can transfer money even internationally for free. Just take note, however, that you must also be sending and receiving in the same currency. For instance, if you are sending from Australia, you are naturally sending Australian dollars. Your recipient also must have their HSBC account currency in Australian dollars. This is to avoid the bank exchange rates as, often, it is better for your recipient to receive the money in your currency and have it exchanged outside of the bank instead.

2. TransferWise

TransferWise is a prevalent option for sending money overseas, as it is available in over 70 countries. TransferWise users all over the world generally have excellent reviews of this system, as the mobile app is pretty easy and straightforward to use. With TransferWise, you have numerous ways of sending and receiving money, and the amount ceiling can go as much as 1.5 million Australian dollars.

How can you send money through TransferWise? Here are some ways:

  • Through mobile or wire transfer
  • Through a debit or credit card
  • Through Apple Pay

TransferWise also has low fees, with a flat fee of 1.5 Australian dollars, and an add-on charge of less than 1% of the total amount that you are sending.

3. Western Union

Western Union is not a stranger to the money sending business. Apart from bank transfers, this company has been around for many years now and is also one of the most trustworthy names in the industry. With this means, you can send money overseas either by going to their physical branches, through their mobile app or their website. Hence, you have the convenience of choice.

Western Union users across the globe also give the company a very high rating because of its low fees and a better exchange rate in comparison with that of banks. The only criticism to Western Union is that its delivery is quite slow, so it might take you around five days before your recipient can pick up the money.

How to Safely Send Money Overseas Without Paying Huge Fees

4. OFX

OFX is best known all over the world for its very reasonable fees. It is also quite a popular choice, as it serves over 80 countries around the world. OFX is also a very safe option for you to send and receive money, particularly if you are sending a hefty amount, as you can’t pick up the money in any other location except through banks. But OFX is limited only for this reason: sending large amounts of money. The minimum is usually set at 1,500 Australian dollars without any maximum ceiling.

With OFX, you get to maximize the amount that you’re sending because the company only charges you a transaction fee of $15 for amounts under $10,000 and no fee above this limit. The only amount you will have to pay for is the exchange rate markup, which is also pegged at less than 1%, so you’re sure you aren’t paying for any unnecessary costs.

5. PayPal

PayPal is also no stranger to the money sending industry. But before you can think about using PayPal to send money overseas, the limitation is that your recipient must also have a PayPal account. If they don’t have one, then you are better off moving to other options instead.

PayPal makes it to this list because of its positive reputation in terms of security. Plus, it is also very convenient. You can easily send and transfer money even from the comfort of your own home through the credit or debit account that you linked to your PayPal account.

In terms of fees, when you decide to send money using your credit card account, the fee is flat and dependent on the bank that your credit card is from. For non-credit card transfers, PayPal charges a percentage depending on the amount you are sending. Especially for small amounts, the fees are relatively low and cheap as well. The most prudent way for you to go is to compare first how much you will be charged, should you send money through your credit card, or should you do so using your debit card instead. If you are a company employing a team overseas, PayPal usually is the best way for you to accomplish your payroll needs.

How to Safely Send Money Overseas Without Paying Huge Fees

6. MoneyGram

With the MoneyGram website, you can send money successfully across locations around the world for whatever purpose serves you best. When you register for MoneyGram, you are also giving yourself more convenience, as not only can you use your account to send money, but you can also use it to pay bills. On the website, there is also an option for you to estimate the total fees that will be charged depending on the location of the recipient and the amount you are sending. Because of this feature, it is easier for you to have a comparison right then and there as to whether or not you will be charged less here, or if you should go for another money transfer option instead.

MoneyGram allows you to send money through the following means:

  • Online
  • In person, through their office
  • Mobile, through your mobile wallet
How to Safely Send Money Overseas Without Paying Huge Fees

7. Xoom

Xoom has coverage in over 70 countries across the globe. Previous customers who have used Xoom also have quite an excellent customer satisfaction rating for this money transfer means because of its reputable service. Plus, on the mobile app, you are also presented with a cost calculator. Xoom is relatively more expensive than other means, but in comparison with a bank, if this is the only option in your area, Xoom can still come out to be cheaper. The upfront transfer fee is generally lower than 7 Australian dollars, with an add on of 3% exchange rate markup.

The advantage of Xoom, however, is that it is one of the speediest means of transferring money overseas. Hence, if you are sending money abroad for an emergency purpose, your recipient is guaranteed to receive it within the day. This speed can only be slowed depending on the banking hours and the time zone difference of where you’re sending money to.

8. WorldRemit

World Remit has been voted as the world’s best money transfer company. Hence, if you are looking for a company with a reputation you can bank on, this is the perfect choice for you. WorldRemit is guarded by the transfer standards and regulations around the world, so this is also one security aspect that you can rely on. As to the costs, it is also one of the most economical options for you to choose from because before the transfer is made, you are presented with a cost calculator, whereby the transfer fee and the exchange rate are shown upfront. This amount is usually dependent on the country you are sending to and from, and the currency you are sending and receiving as well.


Now that you’ve got quite a wide variety of options for you to choose from, sending money should no longer be so much of a problem for you. As you weigh all these options, the end choice is up to you, your needs, and your preferences. Is there one branch that is closest to your home? Do you prefer those that you can complete from your mobile phone? Is your recipient able to receive money through that means as well? Whatever factors you have in mind to help you decide, keep them with you as you narrow down your options. Now you are one step ahead of feeling more secure, never worrying again that you might risk losing your money, or not have your recipient get it. All these options are tried and tested, and you can bank on their reputation in the money transfer industry.

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