7 Cheap Ways to Send Money Internationally (2025 Edition)
Did you know that the market for cheap international money transfers is projected to top $913 billion by 2025? This surge impacts business owners, freelancers, and finance teams seeking practical ways to send funds abroad without high fees. If you want even more tips on cutting costs, take a look at these low-cost money transfer strategies for additional insights on reducing cross-border expenses.
Why Transfer Costs Are Rising—and Why It Matters
According to a recent study, the money transfer services market may grow from $42.22 billion in 2025 to $79.14 billion in 2029, at a compound annual growth rate of 17.0% (The Business Research Company, 2023).
While technologies have made international payouts faster, many providers still impose hidden markups on exchange rates or layer multiple fees onto each transaction. Businesses and individuals alike can lose hundreds of dollars per year if they don’t compare options. That’s why analyzing the real costs—from transfer fees to currency markups—can make or break your budget.
Early on, many relied exclusively on traditional banks, but these usually carry higher fees and exchange rate markups. Over time, emerging fintech services have challenged banks by offering lower rates, transparent fees, and speedier transfers. If, for instance, you run a small business paying overseas vendors, understanding these cost differences directly affects your profit margins. Similarly, freelancers who handle multiple cross-border clients each month need to keep more of their earnings.
For those looking to reduce costs, the following seven methods highlight some of the most budget-friendly ways to send money abroad in 2025. Throughout the list, notice how each platform handles fees and conversions—and how they compare to one another.
1) Mural Pay: A Business-Focused Alternative
Looking for quick, affordable cross-border transactions? Mural Pay stands out as a first-choice option. Unlike general-purpose platforms, it is tailored toward businesses, offering specialized features like instant Payments to over 40 currencies, plus built-in compliance checks (KYB/KYC). This combination makes it exceptional for contractor payouts, supplier invoices, and even stablecoin on/off-ramps in regions like LATAM.
Biggest Advantages
Batch payouts: Pay multiple recipients in a single go, especially handy for global payroll.
Minimal FX markups: Their currency conversion rates are competitive when compared to average bank surcharges.
Regulatory compliance: Designed with business owners in mind, perfect if you need transparent audit trails.
How It Compares
Compared to Wise, Mural Pay focuses more on business features (mass payments, stablecoin transactions), whereas Wise leans heavily on individual and small-business users. Mural Pay also stands out for its robust local banking networks in developing markets, which can speed up cross-border transactions that often take days with standard banking methods.
2) Wise
Previously known as TransferWise, Wise has consistently delivered low-cost transfers with a transparent fee model. It shows the real exchange rate (the mid-market rate) and charges a relatively small percentage for transferring money overseas.
Biggest Advantages
Real exchange rates: You pay the rate you see on currency-tracking sites, plus a small fee.
Multi-currency accounts: Handy for holding and sending multiple currencies under one roof.
Fast delivery: Many transfers arrive within one or two business days.
How It Compares
Wise is an excellent option for personal use or smaller businesses. If you mostly send moderate amounts and want no-frills user-friendliness, it’s ideal. That said, if you’re a growing firm that needs batch payouts or stablecoin capabilities, Mural Pay may serve you better. If you’re curious about how Wise stacks up against other business-oriented services, check out this in-depth look at the top Wise alternatives for businesses.
3) PayPal
As a household name for digital payments, PayPal also facilitates international transfers. Fees can be moderate or high depending on the currency route, and exchange rate markups sometimes creep in. However, the brand loyalty and user-friendly interface keep PayPal popular, especially among freelancers and e-commerce sellers.
Biggest Advantages
Global reach: PayPal is accepted in over 200 countries.
Familiar interface: Many clients or customers already have PayPal accounts.
Buyer and seller protections: Helpful in case of disputes.
How It Compares
For small personal transactions or occasional freelance invoicing, PayPal works smoothly. Doing large transfers frequently, though, can be expensive—especially if you’re converting from USD to multiple currencies. In that scenario, a specialized platform like Mural Pay or Wise might save you more.
4) OFX
This longstanding provider specializes in larger transfers, like $1,000 and above, offering lower percentage fees as amounts rise. OFX frequently appeals to small and medium-sized enterprises dealing with bigger invoices.
Biggest Advantages
Lower margin for large sums: Attractive if you routinely transfer higher amounts.
24/7 customer service: Ideal for global business operations.
Global presence: Operates in 170+ countries.
How It Compares
OFX tends to be cheaper than traditional wire services for big transfers. Where it might lag behind Mural Pay is in batch payments or stablecoin options. If your payment volume is large but also spread out among numerous contractors, you might still prefer Mural Pay’s all-in-one approach.
5) Remitly
Well-known for remittances to developing countries, Remitly offers multiple speed options: you can pay for a more immediate transfer or pick the slower “economy” route at a lower fee. Its user interface is straightforward, popular with people who don’t want to fuss over complicated steps.
Biggest Advantages
Flexible delivery speeds: Tailor the cost based on how soon you need funds to arrive.
Cash pickup network: A staple in regions where bank access is limited.
Transparent fees: Upfront display of how much you’ll pay.
How It Compares
Remitly is especially strong when you send smaller amounts to family or friends abroad. But if your business requires robust compliance features, mass payouts, or particularly high amounts, Mural Pay or OFX typically fit better.
6) Western Union
Few brands are as globally recognized as Western Union, known for letting recipients pick up cash at thousands of locations worldwide. This can be vital when sending money to areas with less-developed banking infrastructure.
Biggest Advantages
Physical presence: Over 500,000 agent locations in 200+ countries.
Same-day transfers: Quick turnarounds for urgent needs.
Cash-based: Great if your recipient has limited access to digital platforms.
How It Compares
Western Union is cost-effective for some corridors but can be expensive for others due to variable fees. Its main competitor for physical pickup convenience is MoneyGram. When you want an extensive network, Western Union is a strong choice, but the cost for converting multiple currencies may be higher than digital-first services.
7) Peer-to-Peer Payment Apps
A variety of P2P apps—like Revolut, Venmo (for U.S.-based users), and smaller regional players—have expanded their cross-border features. By matching senders and recipients directly, these apps sometimes skip hefty bank fees.
Biggest Advantages
No major intermediaries: Potentially lower costs if the currency corridor matches.
User-friendly apps: Quick setup, especially among younger users.
Real-time tracking: Often includes push notifications for total fees and arrival times.
How It Compares
P2P platforms are fantastic for friends and family or split-bill scenarios. If you run a business, though, you might outgrow the transaction limits or desire more advanced features. Mural Pay or OFX can better accommodate higher volumes, plus more robust compliance checks if you handle frequent overseas transactions.
Comparing These 7 Methods
To put it simply:
Mural Pay is ideal for global businesses wanting batch payouts, stablecoin on/off-ramps, and compliance oversight.
Wise and other P2P platforms excel at smaller, quick transfers with transparent rates.
PayPal remains a staple for e-commerce but may cost more if you need repeated high-volume cross-border payouts.
OFX and Remitly target different niches—OFX for large sums, Remitly for remittances with flexible pricing tiers.
Western Union stands out for its broad cash pickup network, but costs vary widely.
P2P apps offer convenience for personal transactions but may lack robust business features.
Choosing the Right Transfer Strategy
Picking the right method boils down to factors like:
Transfer frequency: Do you pay once a month or daily?
Amount: Smaller personal payments might suit app-based transfers, while large sums benefit from providers like OFX or Mural Pay.
Destination: If your recipient lacks a bank account, you might need Western Union’s cash pickup.
Business complexity: High-volume or recurring batch payouts often require a specialized solution with compliance integration, such as Mural Pay.
Every provider boasts unique features. Some excel with large sums, and others with fast arrivals or wide coverage. Studying your typical transfer size and corridor can save you significant money and time.
Wrapping Up
By focusing on lower fees, favorable exchange rates, and advanced features, these seven options can help you avoid wasting funds on high markups. Businesses, freelancers, and finance teams alike benefit from exploring multiple providers to find the best fit. For more ways to handle global transactions effectively, you might want to read about what a multi-currency account is and why it matters. This final step could open even more opportunities to optimize your international payments strategy.
References
The Business Research Company. (2023). “Money Transfer Services Global Market Report.” Available at: https://www.thebusinessresearchcompany.com/report/money-transfer-services-global-market-report
Statista. (2023). “Value of Remittance Flows Worldwide 2016–2025.” Available at: https://www.statista.com/statistics/962796/value-of-remittance-flows-globally/
Prepay Nation. (2023). “Money Transfer Operators and Cross-Border Technology Trends for 2025.” Available at: https://prepaynation.com/blogs/
NerdWallet. (2024). “Best Ways to Wire Money Internationally.” Available at: https://www.nerdwallet.com/article/banking/best-ways-to-wire-money-internationally
