What is the cheapest way to send money internationally?

The cheapest method depends on several factors:

For small amounts ($50-500):

• Specialized apps like Remitly, WorldRemit often best

• Avoid Western Union and MoneyGram (high fees for small amounts)

• Banks are usually most expensive

For medium amounts ($500-5,000):

• Wise typically very competitive

• OFX and CurrencyFair good options

• Compare multiple providers on PayinGlobal

For large amounts ($5,000+):

• OFX, Wise, CurrencyFair excel here

• Banks may be competitive for very large amounts ($50,000+)

• Specialized FX brokers can negotiate rates

General tips:

• Use bank transfers, not credit cards (saves 3-5%)

• Send larger amounts less frequently to reduce per-transaction costs

• Use providers with low/no exchange rate markup

PayinGlobal's comparison tool identifies the cheapest option for your specific transfer amount and corridor.