Best Online Money Transfer Services in June 2022

Have you been looking for a way to send money? Online money transfer is the best way to send money through the internet. It offer competitive rates and an easy-to-use interface that makes sending money as simple as possible. Learn more about it today!

updated May 18, 2022 11:48 AM

47

listed services

111,883

analyzed reviews

11,188

suspicious reviews removed

Service

Price

Real-Time Transfers

Transfers

Multiple Currencies

Money Tracker

Encryption

1

Western Union logo

Western Union

Truely score heart icon

5.0/5

5,018 reviews

$9.00

per month

Unlimited

AES 256

2

21

Vigo logo

Vigo

Truely score heart icon

4.1/5

216 reviews

Contact company for pricing

Unlimited

3

1

Xoom logo

Xoom

Truely score heart icon

3.9/5

4,574 reviews

Custom

Contact company for pricing

Unlimited

AES 256

4

Ally logo

Ally

Truely score heart icon

3.8/5

5,033 reviews

Contact company for pricing

Unlimited

AES 256

5

ACE Money Transfer logo

ACE Money Transfer

Truely score heart icon

3.8/5

3,178 reviews

Contact company for pricing

Unlimited

6

U.S. Bank logo

U.S. Bank

Truely score heart icon

3.7/5

5,577 reviews

Contact company for pricing

Unlimited

7

BOSS Revolution logo

BOSS Revolution

Truely score heart icon

3.7/5

4,174 reviews

$10.00

per month

Unlimited

AES 256

8

Bank of America logo

Bank of America

Truely score heart icon

3.6/5

6,200 reviews

Contact company for pricing

Unlimited

9

6

Remitly logo

Remitly

Truely score heart icon

3.6/5

4,756 reviews

$6.99 - 12.99

per economy fee

Unlimited

AES 256

10

1

Wise logo

Wise

Truely score heart icon

3.5/5

5,434 reviews

Contact company for pricing

Unlimited

Anti-Fraud

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Frequently Asked Questions

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What is online money transfer?

Gone are the days when you have no choice but to fall in a long line to pay bills. With a digital wallet, you can pay your utility bills online without the need to head out. A digital wallet is an electronic service that lets you deposit funds, make transactions, and manage your finances digitally. Since it’s digital, all you need is a device and an internet connection.

Why do you need an online money transfer service?
It’s Simple

Using an online money transfer platform is super simple and easy. It can accommodate you whenever you want to try the platform out.

Accessible

Online money transfers have been made accessible. It lets you send and receive money whenever you are.

Quick

Online transactions are quick and let you save both time and energy. Learning your way around the platforms is worth it.

What are the core features of online money transfer?
Convenient Transactions

The transfer feature lets you send and receive money directly from a bank account, or debit card conveniently with just a few clicks. This is handy especially if you are in a hurry and want to transfer funds immediately.

Secured Banking Details

Online money transfer services should offer you optimum security as they make sure to have all your personal information and banking details safe and secured. These online money transfer websites or apps are geared with privacy settings that help you filter who sees your personal details such as bank account numbers and other private account details. Online banking mobile applications also require their users to provide a personal pin code, of which you can enter whenever you try to use the app.

Reliable Customer Service

Online money transfer services should provide reliable customer service you can tap on whenever you need help regarding the services offered by the platform. All you have to do is contact their chat support found on their websites or mobile applications and you are assured that someone will get back to you after you have addressed your concern.

Handy Online Money Transfer Tools

To be able to have an efficient online transfer you must have these trusty tools you can rely on. These handy money transfer tools include balance checker, exchange rates, and branch locators.

What are the types of online money transfer services?
Automated Clearing House (ACH) Online Money Transfer

Automated Clearing House (ACH) money transfer online is a type of money transfer service that lets you send and receive funds online through an automated clearing house network. An ACH network is a group of processing systems that banks and other financial organizations use to process transfers in each business day.

Bank Account to Another Bank Account Online Money Transfer

Transferring money from your bank account to another bank account is called a wire transfer. The money you have sent will also appear on the receiver’s account on the same day or within one to two business days.

Transfer Money from Bank Account to Prepaid Card Online

Prepaid debit cards have been useful for people who want to just reload their cards whenever they can without maintaining a certain balance to keep an account. It is also possible to send money from your bank account to a prepaid card online with just two details needed: the account and routing numbers of the prepaid card.

Online Money Transfer from Debit Card

Online money transfer from a debit card only requires you the information of the debit card itself and you can already perform online money transfers with that information.

International Bank Transfer

Banks have given people an option to do international bank transfers online however at a higher cost. Most international bank transfers take about one to three business days.

Instant Money Transfer Through Money Centers Online

Money centers have been offering international money transfer worldwide, and have taken this service online. A lot of money centers have provided their customers’ websites and mobile applications that they can use to be able to send money internationally in an instant. They are also known to offer lower transfer rates compared to banks

Who needs online money transfer services?
Businesses

Many offline and online businesses now offer a cashless payment option for their customers letting people pay for their products or services through their mobile prepaid cards or electronic wallets (e-wallets). A lot of utility services also let their consumers pay their bills conveniently through online money transfer services.

Overseas Workers

Overseas workers can now transfer money conveniently and swiftly. They make use of online money transfer services to send remittances to their families abroad while saving an ample amount of time.

Freelancers

Most freelancers have clients from different places around the world. The most convenient way for them to get paid for their services is through different online money transfer platforms. With online money transfer, freelancers can easily transact with their clients.

Bank Account Holders

Anyone with a bank account can access and check their funds through online banking which makes it easier for them to monitor their accounts as long as they have their mobile phones and internet connection with them. Besides that, they can also send money to or receive money from another bank account without having to go to the actual bank.

What are the steps on how to use online money transfer services?
Step 1: Choose a service provider

Start by looking for your service provider. For instance, you’re planning to do an online bank transfer, yet you don’t have an online bank account. Before opening an account, check for the reviews first, as well as the transfer rates, to see if your chosen service provider is reliable.

Step 2: Log into your account or create an account

If you already have an existing account, proceed to log in. If you’re not yet registered with your service provider, create an account and proceed with the verification instructions if required.

Step 3: Do the transfer

First, select the type of transfer you’re planning to make. The instructions for the procedure will vary depending on the type of transfer you chose. Input the information needed, such as your recipient’s banking details, and make sure that you’ve typed everything correctly.

Step 4: Double-check your transfer details

Before finalizing the transfer, double-check the details first, especially your recipient’s account information. Also, make sure that you’ve read the terms before proceeding. This way, you’ll lessen the chances of encountering any issues or disputes regarding your transfer.

Step 5: Confirm the transfer and wait for the confirmation message

Lastly, confirm the transfer, and wait for the confirmation message, which will serve as your receipt. Your money will be received either instantly or after a few banking days, depending on the type of transfer you chose.

What information do you need to be able to do an online money transfer?

Whenever you are transferring money these are the basic information you need to input to be able to an online money transfer:

a. Your recipient’s personal information like name, address, bank name, and/or account type (whether it is a current account, savings, trading, checking, etc.)

Note: An account type is usually asked when you are doing a bank-to-bank transfer and not for third-party apps transactions.

b. The account number and bank routing number of your recipient together with the complete name and current address of the recipient’s bank.

c. If you are transferring to an international bank, the recipient’s IBAN (International Bank Account Number) is needed including the receiver’s bank’s BIC (Bank Identifier Code) or SWIFT Code (Society for Worldwide Interbank Financial Telecommunication Code).

What can you do with online money transfer services?
Send money

Sending money has been accessible with different online money transfer services found online as you can send money from your bank account to another, or traditional money transfer platforms that now offer online options for their clients. Instant money transfer services are also available to let you send money immediately.

Receive money

Receiving money from online transfer services gives you an option to receive it directly on your bank account or e-wallet, or pick it up from money centers.

Pay bills

Besides sending and receiving money, you can also pay your bills, such as utilities and monthly subscriptions, through your chosen online money transfer application or website.

View Exchange Rates

To be able to see the exchange rates helps you get more value of your money as high exchange rates entail more currency for your money.

Can I transfer money from a checking account to a prepaid card?

Do you have a checking account and a prepaid card? Well, it is possible to send funds from your checking account to a prepaid card, and to be able to do so you would have to take note of the following:

Step 1:

Get the prepaid account number of your receiver together with the routing number of the bank you are sending funds to.

Step 2:

Add the prepaid card to your bank account.

Step 3:

Test a transaction by sending a small deposit to the prepaid card as this step makes sure you are sending money to the said prepaid card.

Step 4:

Finalize the transfer after reviewing the details and inputting the desired amount you want to send.

Can I transfer money from a credit card to a prepaid card?

Transferring money from credit cards to prepaid cards cannot be done directly. But, you can use your credit card to get money into your bank account and have it reload your prepaid card. You can also use cash advance options (either checks or through your current account) to load funds onto your prepaid card. However, the disadvantage of this method is its high interest rates and a credit limit that do not allow you to spend more than a certain amount.

How long does it take to transfer money online?

The length of time it takes to transfer money online may vary. It can take an instant, a few minutes, or one to five business days depending on which online service transfer you are using.

How much are the fees for online money transfer services?

The fees for online money transfer services depend on the platform you plan to use, so it is best to inquire with the service provider before making any transactions. You can also check their official websites for the actual rates and fees of their services.

What information do they usually ask before I can make a transfer?

You will be asked for the complete personal information of your recipient before making a transfer. This includes the first and last name found on the government-issued identification card or bank account of the receiver. Their address, contact number, and email are also needed.

How do I pay for online money transfer services?

You can pay for your money transfer transaction by using your debit or credit card. Visa, MasterCard, Maestro, and Visa Electron cards are commonly supported by transfer services. However, make sure that your card is ensured with secure authentication for its security.

Is it safe to transfer money online?

Yes, it is safe to transfer money online as long as you know the person you are sending the money to.

Who regulates money transfer firms?

Money transfer firms are regulated by electronic money regulations, and via financial regulators that make sure that online money transfer services follow the guidelines of the banking systems online.

Is the website I am using secure?

One way to find out if the website you are using to transfer money online is secure is through checking if the link has a padlock symbol in the browser window frame that appears whenever you attempt to register or log in to the website. If not, then the site is probably a fraudulent site. The web address must also start with ‘https://’ as the ‘s’ stands for ‘secure’.

Are my personal details secured while making a money transfer online?

These services use SSL (secure sockets layer) which is a standard security technology that protects your personal details and activity whenever you use their websites and mobile applications. All of your personal details are encrypted between the server and the client making your data all private.

Is it possible to get a refund if the transaction is not completed?

You can ask your online money transfer service provider regarding a refund whenever a transaction is not completed.

Can I cancel an online money transfer?

All online transfer services try their best to cancel your transactions when needed, however, this can only be possible if your recipient has not claimed or received the money you have sent. If the transfer has already been made, then the service provider would not be able to cancel the transaction. For more details about cancellation and refund policies, you can always check the privacy policy and terms and conditions page of your chosen platform, or call them through their contact numbers for this concern.

Will I be able to track my money transfer transaction?

Yes, you definitely can track the status of your money transfer transaction. Just use the tracking tool of your chosen website or app, and all you need is to input the tracking details to see your transfer status.

Is there a minimum amount of money I can send online?

The minimum amount of money you can send online depends on your chosen service provider. Most banks have a daily sending limit of $5000. while money centers have a daily limit that ranges from $999.99 to $2,999.99.

Which countries allow online money transfer services?

Both bank to bank and money centers have an option to let you transfer money online to over 160 countries around the world. For a specific list of countries, you can visit your platform’s website and see if the country you want to send money to is included in their international list.

How do I know my recipient has received the money I have sent them?

Most online money transfer services send you updates through your email or contact numbers regarding the transfer status of your transaction.

Can I change the name on a money transfer?

Yes, you can change the name of your receiver as long as the money hasn’t been picked up yet. However, this can not be done for bills payment, money orders, or prepaid money transfers.

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