Fastest ways to make an emergency money transfer

Online money transfer services offer some of the fastest ways to transfer money to someone in cash or for direct deposit in an emergency – but which provider you should use depends on how much you’re sending and how quickly you need it to arrive.

Compare the fastest international money transfers

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you’re ready to send.

What is the fastest way to transfer money internationally?

There may be occasions where you need to send money to friends or family in an emergency. In most cases, the fastest way to send money internationally is by using an online money transfer company.

Some money transfer services allow you to send funds almost instantly, with the recipient able to collect in cash or via a bank deposit. Apart from the speed, another advantage of using online transfer services is that you can easily compare fees and exchange rates and choose the most favorable for your transaction.

Which are the fastest services to use when sending money abroad?

When there is an emergency, getting money out as quickly as possible is key. WorldRemit, MoneyGram and Western Union are the three providers with the fastest money transfer services.

WorldRemit

Read our review on WorldRemit

MoneyGram

Read our review on MoneyGram

Western Union

Read our review on Western Union

What factors affect the speed of a money transfer?

There are several factors that can affect how fast your intended recipient receives their transfer, and they are worth keeping in mind if you need to send money in an emergency.

• • Transfer destination. Where you are sending money to will impact the speed of your transfer. It’s often faster to send money between countries where financial exchange is commonplace. Just remember that every transfer destination involves specific banking regulations and procedures, which could potentially delay transfers.
  • Payment method. How you choose to pay for your transfer will determine the processing speed. Typically paying by credit or debit card is your fastest option.
  • Receiving method. The form your intended recipient chooses to receive their funds will also affect the transfer time. You will find that a cash pickup can be done almost instantaneously.
  • Signing up to an account. If you are not already registered with a money transfer service, it can take time to apply for an account and provide the required supporting documents.

What do I need to look out for when sending cash quickly?

Fees for emergency transfers will vary among banks and money transfer services. Before you make your transfer, try to compare the following:

• • • Exchange rates. Money transfer services make money by skewing exchange rates. You’ll want to look for a rate that’s as close to the mid-market rate as possible.
    • Transfer fees. Fees can range from flat fees of a few dollars to up to $80 or more, depending on how you’re sending it or picking it up.
    • Transfer options. Can your recipient accept a bank account transfer, or do they need to pick up cash right away?
    • Security. For emergencies, you’ll appreciate being able to track your transfer through to receipt.

Frequently asked questions

• What is the fastest and safest way to send money?

  If you or a loved one needs emergency funds urgently, the fastest way to send money is to use an online money transfer service. Your quickest option would be to pay with your credit or debit card online and choose cash pickup at an agent location near you or your recipient. With most services, the money is available within an hour.

• Should I be suspicious of emails from friends asking for emergency cash?

  Beware of scams that involve an email from 'friends', often ones traveling abroad, who find themselves in trouble and need money wired immediately. Try to confirm the details of your email with other family and friends before sending money, and reference our detailed guide on money transfer scams for further help.

• Should I just send money using my bank account?

  No. Bank transfers typically take more time and cost more money. With a money transfer service you can send money internationally almost instantaneously.

• Can my recipient pick up their transfer in a different country than I sent it to?

  Due to security, most service providers don't allow for pickups in a different country. If your friends or family are no longer in the country you've intended to send your money to, cancel your transaction and resend it.

• Is there a limit to how much I can transfer?

  Depending on the emergency, you may be more comfortable sending more than needed. Most banks have a maximum amount that you can send per day. But if you opt to use a money transfer service, you will find that the maximum amount you can send will be higher, or even unlimited. Some money transfer services have a fee free threshold, which means that sending a larger amount could help you to avoid paying transfer fees altogether.