• According to the World Economic Forum, immigrants sent $466 billion to their relatives in their homeland in 2017
• Money transfer services are big business; however, finding convenient and inexpensive ways to send payments is not easy for many immigrants. 
• Due to the size of the remittances circulating in the global economy every year, numerous money transfer businesses are vying for migrants’ business. 

According to the World Economic Forum, immigrants sent $466 billion to their relatives in their homeland in 2017.  Immigrants from the United States, alone, sent 138 billion dollars in remittances their relatives overseas.  Money transfer services are big business; however, finding convenient and inexpensive ways to send payments is not easy for many immigrants.  Due to the size of the remittances circulating in the global economy every year, numerous money transfer businesses are vying for migrants’ business.  Here’s our list of the best money transfer services:

TransferWise

Transfer Wise is one of the cheapest ways to send money internationally.  You can send $1,000 to your relatives in Mexico for as loan as $9.

XE Money 

XE Money transfers money to as many as 127 countries.  Your country will be on the list. Although more expensive than TransferWise, it is still one of the best money transfer services. 

Currency Fair

Currencyfair promises to give you the best available exchange rate.  Due to continuous geopolitical issues, currencies across the globe tend to fluctuate regularly.  Currency Fair pledges to provide you the most recent exchange rate.     

 Ria. 

Ria promises speed, low rates, and easy-to-use service.  You can do a bank to bank transfer from the United States to Mexico for $1.

Remitly

Remitly gives a delivery promise on every transfer. They promise to deliver on time or your money.

Square Cash or Cash APP

Square Cash is super user-friendly.  It is best to use domestically to repay a friend or colleague for launch.

OFX

OFX is another excellent money transfer platform. You can save up to 50% on the rates compared with using a bank $0 transfer fees.

Xoom

Xoom is a PayPal service. You have three ways to send money. You can make a direct deposit, have your relatives pick the cash, or have the cash delivered to their home. It will cost you about $5 to send $1,000.

MoneyGram

MoneyGram has physical locations, which is suitable for those who don’t know their way around the computer.

Western Union

Western Union claims that they move money the way that you can count on them to send money the way you want, virtually anywhere you want. Western Union has a worldwide reach.  You can send money to more than 500,000 agent locations in over 200 countries and territories.