Business Money Transfers

When it comes to international money transfers for business purposes, the exchange rate you receive and the charges you pay will make a big difference to the cost. This is the case whether you need to make regular payments or are looking for the best way to organise a one-off business money transfer,

Comparing international business money transfer deals can help you find a cheaper, faster and more convenient way to send money overseas.

    • Provider International Money Transfers

      HiFX

      International Money Transfers

    • Description

      Built from their experience of transferring over £100 billion in foreign exchange, HiFX has created a simple, online international payments service which is designed to enable businesses of all sizes to make and receive international payments 24 hours a day, 7 days a week.  Fast and highly secure it’s the most cost effective way for companies to pay overseas suppliers, receive international payments, settle invoices and conduct business abroad.  Better still, with free international payments you’ll avoid unnecessary bank charges or having to speak to your local bank. 

      more provider details
    • Go to site

    5*
    Rating

    5* ‘excellent’ rating on Trustpilot from over 10,000 verified reviews

    Great for
    Over £100 billion transferred on behalf of businesses and private individuals worldwide
    Authorised by the Financial Conduct Authority
    Exclusive to MoneySuperMarket – transfer £5,000+ and you’ll be entered into a monthly prize draw to receive one of 10 £50 M&S vouchers
    But be aware that
    Minimum transfer £50
    Business customers must pay by bank transfer
    • Provider International Money Transfers

      Global Reach Partners

      International Money Transfers

    • Description

      One of the UK’s leading currency providers in both the private and corporate markets with over 15 years’ experience, Global Reach Partners execute over £5.5bn of client transactions each year. Fully authorised and supervised by the FCA under the payment services regulations (2009) our friendly dedicated dealers and support staff will work to help you achieve the best possible rate for your currency requirement.

      more provider details
    • Go to site

    5*
    Rating

    5* 'excellent' rating on Trustpilot - over 600 reviews

    Great for
    Lock the exchange rate before paying
    24/7 online access to market leading exchange rates
    Dedicated personal telephone service
    But be aware that
    Payments by bank transfers only
    Minimum transfer amount of £1,000
    • Provider International Money transfers

      Halo Financial

      International Money transfers

    • Description

      Halo Financial provides currency risk assessment strategies and the best exchange rates to improve companies' profit margins. Halo can move your international payments often faster than banks and in addition to faster payments, they can arrange ‘forward contracts’, allowing you to fix an attractive exchange rate up to two years in advance. The service offered is flexible and will be tailored to your business needs and requirements with an assigned qualified expert. Halo Financial are regulated by the FCA and recently won the Re:Locate Magazine Gold award for Financial Innovation.

    • Go to site

    Great for
    Flexibility enabling you to fix a rate up to two years in advance
    Same day transfers for sterling, euro and US dollars
    Each client provided with a dedicated dealer and a specific trade support contact
    But be aware that
    Phone service available Monday - Thursday 8:30am - 8:00pm, Friday 8:30am - 5:30pm
    • Provider International Money Transfers

      The FX Firm

      International Money Transfers

    • Description A privately-owned business in no doubt that client satisfaction defines its future success. Whether you are an individual or a business, The FX Firm will offer you great exchange rates and can transfer money to any account in the world through the company’s state of the art international payments systems. Authorised and regulated by the FCA, The FX Firm has traded over $1bn on behalf of its clients in 2015. more provider details
    • Go to site

    5*
    Rating

    5* 'excellent' rating on Trustpilot

    Great for
    Helpful, impartial guidance rather than pushy advice - consultants not incentivised by commission
    No transfer fees or hidden charges - what The FX Firm quotes, it sends
    Ease of use - move money online, by phone or via email
    But be aware that
    Minimum transfer is £500
    Payment by bank to bank transfer only
    • Provider International Money Transfer

      World First

      International Money Transfer

    • Description

      World First have many different ways of managing your currency needs. They make it easy for you to transact. You can call them and transact over the phone – you’ll have a direct line to your designated dealer, who will always answer within three rings.
      Or you can use their online platform, which lets you book rates, choose beneficiaries and view your past payments 24/7.
      They have a number of options and products which we can tailor to your business needs. Sign up today with no obligation and we will chat you through the options.

      more provider details
    • Go to site

    Great for
    Same day transfers for sterling, euro and US dollars
    Your own dedicated dealer and a best-in-class online platform available 24/7
    Currency Options to help you protect your bottom line
    But be aware that
    Telephone service available Monday - Friday
    Fees can range from £0 to £15 per transaction
    Minimum transfer amount £1,000 or equivalent
    • Provider International Money Transfer

      FairFX

      International Money Transfer

    • Description

      All FairFX international payments are simple, secure and fast, with no fees and great rates on online money transfers as well as its telephone dealing service. Whether you're making regular, complex or larger business payments, choose the service that best meets your needs. FairFX is FCA authorised, registered on the AIM market of the London Stock Exchange, and was previously named as one of 1000 Companies to Inspire Britain.

    • Go to site

    5* Rating

    5* ‘excellent’ rating on Trustpilot from over 4,000 verified reviews

    Great for
    Access a dedicated personal service through the telephone dealing team
    Free Rate Watch Service
    Send money online or through the FairFX mobile app
    But be aware that
    Minimum £500 transfer online
    Bank transfers and debit/credit card payments only
    • Provider International Money Transfers

      Moneycorp

      International Money Transfers

    • Description

      Moneycorp provide tailored services to help companies make international payments, and manage their exposure to foreign exchange market fluctuations. Each business is assigned a dedicated personal currency dealer to provide solutions that are in line with your business objectives. With over 30 years experience Moneycorp works with organisations of all sizes, across a wide range of industry sectors, tailoring their services to the specific needs of each individual client.

    • Go to site

    Great for
    Bank beating exchange rates with free expert telephone service and guidance on the currency markets from a personal dealer
    Helping you protect your business from the risks associated with foreign exchange
    Taking advantage of favourable rate movements when it suits you and your business
    But be aware that
    They operate extended office hours and their online trading services are available whenever the markets are open
    Minimum online transfer is £50
    Minimum regular payment plan is £250

Business money transfers

Many businesses need to send money, or receive payments from, overseas. International business money transfers offer a fast, easy and cost-effective way to do this.

This guide to business money transfers tells you everything you need to know about this method of sending cash abroad.

How much do business money transfers cost?

Using your bank to send money overseas can result in high commission and administration charges. Most high street banks charge at least £20 per transaction.

Together with the poor exchange rates many banks offer, these fees can push the cost of a large international transfer into hundreds of pounds.

Fortunately, you can slash the cost of international business transfers by using a foreign exchange specialist rather than a high street bank. There are lots of companies offering international business money transfers.

Some of the top names include Halo financial, HiFX, World First, TransferWise and Global Reach Partners. They generally offer attractive exchange rates, while many have no transfer charges.

What are the advantages of business money transfers?

Choosing to send money abroad via a market-leading international transfer service should mean you get a lot more for your money.

If you are worried about the exchange rate moving against you, it is also possible to fix a future payment at the current rate – thereby removing the risk of the cost of the payment going up due to sterling falling, for example. And for those keen to make the most of rising exchange rates, many companies offer rate alert services and the opportunity to set the exchange rate (for example within a few decimal points of the current rate) for a transfer to be made.

In addition, many transfers can be arranged online or over the phone, and the money should generally arrive at its destination within a few days at most.

What are the disadvantages of business money transfers?

Most of the currency specialists will only arrange transfers of at least £250, while transfers of less than £5,000 may attract higher fees. Many companies will also only accept bank transfers, rather than debit card payments, for example, while some are not FCA-authorised, meaning you could end up out of pocket if something goes wrong.

Finally, it is worth noting that you will generally have to pay commission – or a fee of some kind – to transfer money overseas, whichever company you use. The good news, however, is that you can minimise this cost by shopping around for the best deal.

Finding the best business money transfer

Shopping around for the best deal can save you hundreds of pounds on larger money transfers, with the difference between the deals offered by even the more competitive players on say £15,000 hitting well over £100.

MoneySuperMarket’s international money transfer tables take the legwork out of finding the cheapest way to make an overseas business payment.

All the currency companies listed are also FCA-authorised and regulated, giving you the security you need when transferring cash in this way.

How our site works

We want you to have as much choice as possible when you’re looking to transfer money abroad for business purposes. But some companies don’t want to be included on comparison websites, so we can’t promise to show you every single one. We’ve ranked these companies according to how much money you would receive, based on a hypothetical quote. You can find out more about how we work here.

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