The cheapest way to wire transfer money abroad

Wire transfers are an electronic funds transfer from one person or institution to another. Wiring money is considered one of the fastest and safest ways to send money internationally and there are many different wire transfer options available.

What are the options when wiring money abroad?

Wiring money around the world can generally be done in just a few minutes, no matter where the recipient is. However it’s worth knowing that in some instances you might pay for the convenience and speed that comes with fast payments.

Specialist foreign exchange providers like UKForex

 If you want to save money (who doesn't?!) when wiring money abroad, then your best option is to use a specialist foreign currency provider like UKForex. The reasons are simple - you will get a better exchange rate, £0 transfer fee, the transfers are quick, you get better customer support and wiring money is safe - UKForex is FCA-regulated.

Cash transfer operators

Known for wiring money quickly to even the most random locations, these operators are particularly useful if the recipient does not have a bank account. Unfortunately, the fees are typically very high and increase as you send higher amounts.

Online money transfer services like PayPal

If your recipient and you have PayPal accounts then you'll be able to transfer money instantly. However, once again, the fees for these transfers are high and are uneconomical for larger transactions.

High street banks

The easiest option for most people. Again, the issue with this option is the large fees and extremely poor exchange rates the banks charge - expect to pay £15-30 as a fee for the transaction and the exchange rate will incorporate a 4-7% margin!

Features and benefits of using UKForex for wire transfers:

Excellent exchange rates: beat the banks by 3-4% everytime.
£0 transfer fee
Quick delivery of funds
24/7 access
Fast and secure money transfers
FCA regulated

How do I make an international wire transfer?

It's really simple:

  1. Login to your UKForex account & get a live exchange rate quote
  2. Enter the recipient bank account details to book your money transfer
  3. Send us the funds, relax and we'll deliver the funds to your nominated bank account as quickly as possible.

How long does it take to wire money abroad?

This varies depending on where you are sending money to. Click here to see where we send money to and here to see how long it takes for your money to arrive.

Is my money safe with UKForex?

Yes, your money is safe with UKForex. We are regulated by the Financial Conduct Authority (FRN: 521566) for the provision of payment services which means we are required to:

  • segregate client accounts in accordance with FCA rules on the safeguarding of client funds.
  • maintain a defined level of regulatory capital at all times
  • apply stringent governance and risk management procedures throughout the business

See here for more information about the safety of your funds.

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IMPORTANT: Use of this website is subject to the Website Terms. Use of the Services of the UKForex Limited is subject to the Client Agreement. Nothing on this website constitutes or should be construed as financial advice. This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites.

UKForex is registered in England and Wales (company no. 04631395) with registered office at 1st Floor 85 Gracechurch Street, London EC3V 0AA.

DISCLAIMER: UKForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this web site. Read full disclaimer.

UKForex provides international money transfer services to individual clients and business customers. Use our free currency calculator, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.

UKForex is authorised by the Financial Conduct Authority (FRN: 521566) for the provision of payment services. 

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