Compare Money Transfer in United Kingdom

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20 live offers compared from 20 providers. Updated daily.

What is money transfer in the UK?

Money transfer services let you send money abroad, whether supporting family overseas, paying for property, or moving funds between your own accounts in different currencies. Specialist providers typically offer far better exchange rates and lower fees than the big high-street banks, which is why international transfers have largely moved to dedicated money-transfer companies and apps.

The market covers everything from small remittances of a few hundred pounds to large one-off transfers for property purchases, each with different cost structures and delivery options.

How the UK money transfer market works

The real cost of a transfer has two parts: any upfront fee, and the exchange-rate margin, the gap between the rate you get and the true mid-market rate. Providers that advertise fee-free transfers often make their money on the exchange rate, so comparing the total amount the recipient receives is the only fair way to judge value.

Delivery methods range from bank deposit to cash pickup and mobile-wallet transfer, and speed varies from minutes to a couple of days depending on the corridor and method.

Leading UK money transfer providers

Wise is known for transparent, near mid-market rates and clear fees. Revolut offers competitive transfers within its app. Remitly, Ria Money Transfer, Paysend and InstaReM focus on affordable remittances to a wide range of countries, often with cash-pickup options. Western Union offers an extensive global cash network, while Moneycorp and OFX specialise in larger transfers with dedicated dealing support.

How to choose the right provider

Total received amount — compare what actually arrives, combining fee and exchange rate.

Delivery method — bank deposit, cash pickup or mobile wallet, depending on the recipient's needs.

Speed — some corridors deliver in minutes, others take a day or two.

Transfer size — specialists like OFX and Moneycorp suit large amounts with better rates and support.

What it costs

Costs vary by provider, destination and amount. Small remittances may carry a low flat fee, while larger transfers are often fee-free but priced through the exchange-rate margin. The most reliable comparison is the final amount the recipient receives, since a headline zero fee can hide a wider rate spread than a small upfront charge.

Protections and regulation

Money transfer firms are authorised and regulated by the Financial Conduct Authority (FCA), either as payment institutions or e-money institutions, under the Payment Services Regulations. Customer funds must be safeguarded in segregated accounts, though these are not covered by the FSCS in the way bank deposits are. Use only FCA-authorised providers, which you can verify on the FCA register, and be alert to transfer scams.

Common questions

Why avoid my bank? High-street banks usually charge higher fees and wider exchange-rate margins than specialists.

How do I compare fairly? Compare the total amount the recipient receives, not just the upfront fee.

Is my money safe? With an FCA-authorised provider, funds are safeguarded, though not FSCS-protected like bank deposits.

Can I lock in an exchange rate? Specialists like Moneycorp and OFX offer forward contracts that fix a rate for a future transfer, useful for large payments such as buying property abroad.

Money Transfer in United Kingdom — FAQ