International money transfers often involve a conversion between currencies, but that doesn’t always have to be the case, like with the euro in the EU. Here are some ways to send same-currency international transfers and explore your options.
Compare services to send a same-currency transfer
Table: sorted by promoted deals first
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
What are the pros and cons of same-currency transfers?
Pros
Forget exchange rates. When you send the same currency overseas, you don’t have to worry about hunting for the best exchange rate and how much money you’ll “lose” in the currency conversion process.
Lots of choices. There are heaps of trusted and reputable money transfer providers who can send a same-currency transfer for you.
Cons
Fees apply. You’ll probably need to pay a fee in most cases when sending money overseas, whether it’s the same currency or not, so search for a provider with a reasonable fee structure. Sometimes fees are charged as a portion of the exchange rate, so look for companies that offer 1:1 rates on same-currency transfers.
Restricted country and currency support. Some currencies will have stronger global support than others.
How does a same-currency transfer work?
Same-currency transfers, like international transfers, rely on using a service to move money between you and your recipient. This service could be a money transfer service, an international wallet, a bank or something similar. When sending same-currency international transfers, you don’t have to worry about exchange rates, but you still need to be aware of potential fees. The best services to use will vary depending on whether you’re sending a domestic or international same-currency transfer:
Domestic same-currency money transfers
There are very few times when you should be paying fees to send money within the UK. If the person you’re sending to doesn’t have a bank account or would prefer to pick up cash, you’ll have to rely on a money transfer service that may charge a fee.
Otherwise, you have other free options for transferring money domestically, such as Google Pay, Apple Pay, Facebook Messenger and Cash App.
International same-currency money transfers
Because most money transfer companies make money both on fees and exchange rates, there’s little incentive for them to offer same-currency transfers between countries, so they’re a bit trickier to find. Some options are:
PayPal – PayPal offers international transfers in dozens of currencies.
What other ways can I send same-currency international transfers
Although not the most convenient, there are other ways to send same-currency international transfers.
Banks: Banks may seem like the most convenient option, but there are many fees and roadblocks you have to watch out for. Expect both an outgoing wire fee from your bank and an incoming wire fee from your recipient’s bank, for example. Many banks will also force you to convert currency if the destination account doesn’t support the currency you’re transferring. To avoid these fees, consider using a bank like HSBC that supports international accounts in a wide array of currencies.
Send cash: The least recommended option, sending cash, is not only risky but may be illegal depending on how much you’re sending. Instead of sending cash, considering sending a postal order or cheque – though these are hardly your fastest or most secure options.
Bottom line
Sending same-currency transfers can be a good way to pay friends back, get money to your family, help make an international move smoother and more. Explore your options when sending same-currency transfers, including the various money transfer companies that support such transfers. Before making any moves, learn more about money transfers and what you can do with them.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Zak Killermann was a technical publisher at Finder who specialized in currencies and investing. Zak’s expertise was in breaking down technical finance concepts into approachable, digestible nuggets of information. See full bio
Revolut has made a name for itself as a favourite for frequent travellers by offering great currency services. Stick within the “fair usage” limit for your plan and the pricing can be hard to beat.
Lloyds Bank provides a range of options for sending money overseas to friends and family. See exchange rates, fees and services here and compare your options.
Send an international money transfer to someone without a bank account. Get it there instantly and they can pick it up in person, in cash. Get quotes now.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
