Online money transfer: favorite money transfer apps

Money transfer apps: Conditions of Providers

Transaction fees and exchange rates vary daily between providers, the countries involved and transaction amounts. Typical fees comprise a flat charge plus a percentage of the transferred amount.

Western Union & Moneygram

These two well-known companies have dominated the market for years but are accused of opaque charging schemes and exclusive agency deals. Standard sender fees are around USD $10 with average exchange rates. There is no charge to the recipient and cash transfers are delivered within a few minutes.


London-based WorldRemit was founded in 2010 by Ismail Ahmed to introduce the gains of the new communication technologies to the international remittance market. Established as online service for people living abroad it focuses especially on money transfers via computer, tablet or smartphone. All state of the art solutions for sending and receiving money online are covered by WorldRemit. And this service is available in the most countries of the world with significant low fees.


Money transfer

Never before it was so cheap and so simple to transfer money from country to country, from mobile phone to mobile phone, independent of place and time.

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London-based Azimo has recently enhanced its payment services, advertising fast, easy transactions and good value for everyone. Serving over 195 countries including instant transactions to Nigeria, the company also advertises fee-free transfers (excluding SWIFT and credit card costs) from Ireland, France, Portugal and Finland.


Backed by a consortium of innovative thinkers including the entrepreneur Richard Branson, TransferWise is another relative newcomer to capitalise on the widely held mistrust in banks. However, its charging structure is not suited for the African market.


Offering better than average exchange rates, Currency Fair promotes a user-friendly interface and modest fees. Registration is simple and the company has headquarters in the UK, the Irish Republic and Australia. The company’s Dublin spokesperson reported an average of over $5,000 on each transaction.

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Send money abroad


Authorised by the FCA, Xendpay advertise safe and cheap transactions including one-off transfers and low amounts. Debit and credit card payments are possible along with bank transfers, but not mobile phone payments. There are no compulsory fees or hidden charges; remittance senders are invited to pay what they consider the service to be worth. Over 215 countries are served, including the Seychelles and the Middle East.


M-Pesa may be more useful for transfers of less than $1,000. Notably, the M-Pesa service from Safaricom not only works on smartphones but also on more basic mobiles, making the service more easily available to a wider range of potential customers. M-Pesa’s monopoly has recently been ended by Equitel, a money remittance company set up as a joint venture between Equity and Airtel and which uses thin SIMMS, a microchip installed in parallel with phone SIMM cards.


Originally a mobile phone operator, this company is centred in Qatar with services focussed on the region including Kuwait - with mobile wallets, a shop network and self-service machines (QNB ATMs). Ooredoo also works with Moneygram to extend its global reach to 200 countries from an Ooredoo mobile phone, as well as to bank accounts in Kenya, the Philippines and Sri Lanka.

Send money online

Currency Transfer

Currency Transfer has a minimum transfer amount of around £1,000 (or equivalent) and supports 121 different currencies with offices in the UK, Europe, Australia, Hong Kong, Singapore and most of the USA.

Finally, smartphone apps that are popular but which are not suitable for international remittances to African countries include Venmo, Xoom, Square cash, Dwolla, GoogleWallet and PayPal.

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