UK money transfer services compared — what matters and the latest options
Some links on this page are referral links. If you use them, we may earn a commission at no extra cost to you. This never affects how we rate products. How we make money
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. Some links are referral links — we may earn a commission. You can check a firm’s details on the FCA Register.
Quick comparison
Sending money abroad from a UK bank account? For a typical bank-funded send, Wise is a strong starting point: you get the mid-market rate plus a fee shown upfront (from about 0.24%, varying by currency, amount and pay-in method, as of 12 September 2026).
Revolut can be cheaper for weekday SEPA euro sends within your plan’s fair usage. Remitly suits cash pickup or mobile-wallet payouts on corridors that offer them. Always run a live quote for your corridor before you send.
As of 12 September 2026. Always run a live quote for your corridor.
Need to send money abroad cheaply? Check Wise’s and Revolut’s current offers →
Comparison table
Fees, funding methods, how long transfers take, and whether there is an app. Minimum send shows the closest public minimum where published.
| Provider | Fees and exchange rate | Speed | Pay in / pay out | Minimum send | App |
|---|---|---|---|---|---|
| Wise Banking hub | Mid-market FX + disclosed fee (from about 0.24%; varies by currency, amount, pay-in) | Transfer time: hours–2 business days by rail (FPS / SEPA Instant / SEPA / SWIFT) | Bank transfer / Wise balance / card pay-in; bank rails out (FPS, SEPA, SWIFT) | No fixed public minimum send beyond corridor and method rules — check the live quote | Yes — Wise app + web |
| Revolut (Standard) Banking hub | SEPA EUR outbound free; other intl fees from 20 May 2026 on Standard; fair usage then 1%; weekend FX 1% | Transfer time: often minutes–1 business day on common rails within fair usage | In-app balance / linked funding; SEPA / international sends per plan | Closest equivalent: no fixed public min send beyond in-app / compliance rules (min send) | Yes — Revolut app |
| Remitly | Often about £1.99 + Remitly rate; some corridors Economy £1.99 / Express £2.99; first-transfer promos not ongoing | Transfer time: Express vs Economy — minutes to days by corridor and payout type | Bank / card funding; bank deposit, mobile wallet, cash pickup where offered | Closest equivalent: corridor-dependent min send — check live Remitly quote (min send) | Yes — Remitly app + web |
Some links in this table are referral links. We may earn a commission if you use them, at no extra cost to you. Rankings are based on our review methodology, not commission.
Good for
Who each option suits
- Wise may suit you if you want the mid-market rate with the fee shown upfront, or need to hold several currencies.
- Revolut may suit you if you already use the app and send euros on weekdays within your plan’s fair usage.
- Remitly may suit you if your recipient needs cash pickup, a mobile wallet or home delivery where the corridor offers it.
Who should look elsewhere
- Anyone who needs FSCS deposit protection on money held — e-money is safeguarded, not FSCS-covered
- People sending large sums without comparing a live quote
- Anyone converting at weekends on Revolut (1% weekend FX)
- People relying on first-transfer promo rates as ongoing pricing
Our pick
Wise for a typical UK bank-funded send when you want mid-market FX and a fee you can see upfront.
Wise is a low-cost way to send money internationally. If you choose to use Wise through our link, we may earn a commission.
Remitly can win on cash-pickup corridors. Revolut can win on weekday SEPA within fair usage on Standard — weekend mark-ups and plan caps still apply.
Match the product to the job: hold-and-send, app banking, or pure remittance.
Our picks by need
Full explanation
Sending money abroad from the UK usually comes down to three names: Wise, Revolut and Remitly. They overlap, but they are not the same job.
Wise is built around multi-currency balances and clear mid-market FX plus a fee. Revolut folds transfers into a wider banking app with plan fair-usage and weekend FX rules. Remitly is a remittance specialist — send-only, with Express and Economy speeds and cash pickup on some corridors.
The Wise and Revolut links in the comparison table are referral links, which help support the site; Remitly links go to its official site. Always run a live quote for your corridor before you send.
Visual summary
Short pros and cons.
Wise
- Strengths: mid-market FX plus a disclosed fee; hold balances
- Limitations: safeguarded e-money, not an FSCS deposit
Revolut
- Strengths: transfers inside a wider banking app
- Limitations: fair-usage and weekend FX rules on Standard
Remitly
- Strengths: remittance specialist; cash pickup on some corridors
- Limitations: own rate with margin inside — check live quotes
Three different products
You can compare the same “send £X to country Y” quote across all three. Holding a balance, receiving a salary into local details, and cash pickup are different jobs. They are different jobs.
Spending on a card abroad is also a different job. See UK travel money cards if that is what you need.
Wise, Revolut and Remitly are three different products. The same “send £X to country Y” quote can be compared. Holding a balance, receiving a salary, and cash pickup are different jobs and are different jobs.
| Criterion | Wise |
Revolut (Standard) |
Remitly |
|---|---|---|---|
| What it is | Multi-currency e-money account + send | Banking / super-app + send | Remittance specialist (send-only) |
| UK entity | Wise Payments Ltd, EMI, FRN 900507 | Dual: Revolut Ltd EMI FRN 900562 and/or Revolut Bank UK Ltd FRN 981170 | Remitly U.K., Ltd, payment institution (PI), FRN 728639 |
| Stored balance? | Yes (e-money) | Yes (entity-dependent) | No — money in transit, then paid out |
| FX model | Mid-market + disclosed fee | Revolut-set rate + fair usage / weekend | Own rate (margin inside) + fixed fee |
| Typical fee model | From about 0.24% + corridor fee (varies by currency, amount, pay-in) | SEPA EUR outbound free; other intl from 20 May 2026: local-currency 0.15% (min/max) or non-local flat (e.g. £3); fee sits on top of FX | Often about £1.99 + Remitly rate; some corridors Economy £1.99 / Express £2.99 |
| Fair usage / weekend / promo | None published | £1,000/month fair usage then 1%; weekend 1% Fri 17:00–Sun 18:00 ET on all exchanges | First-transfer promo common; promo FX often first £500–£1,000 only — not the ongoing rate |
| Speed (published) | 74% under 20 seconds; 95% under a day (method-dependent) | Hours–2 business days by rail (FPS / SEPA Instant / SEPA / SWIFT) | Express vs Economy; firm claim 90%+ of funded transfers under an hour (Q1 2026 metric) |
| UK send limit | Up to £1m (higher from Wise balance) | In-app / compliance | Up to £75,000 per transfer (verification may be lower); plus 24h / 30d / 180d caps |
| Receive / hold | Yes — local details in 22 currencies | Yes — multi-currency + UK details | No stored balance; payout to recipient rails |
| Cash pickup | Not the product focus | No | Yes (corridor-dependent) |
| Key trap | Card funding costlier than bank / Wise balance; Swift receive fees | Weekend FX; fair usage; intl fee on top of FX; rate not mid-market | Promo expiry; Economy vs Express; FX markup; cash-pickup partner fees |
Worked example: £1,000 sent (12 September 2026)
Weekday, bank-funded where possible. Remitly promo, Express and Economy prices are shown separately. Revolut figures need a live in-app quote.
Weekday, bank-funded where the provider offers it. Wise figures are live API quotes from 12 September 2026 (about 11:45 BST). Revolut has no static corridor total on the public fees page — an in-app quote is required.
Remitly rows show fee class and promo labels only; promo FX is not treated as the ongoing rate. Missing recipient totals are not invented.
| Corridor (£1,000 sent) | Wise |
Revolut Standard |
Remitly |
|---|---|---|---|
| GBP → EUR (bank-class) |
Fee £3.81 Rate 1.16625 Recipient gets €1,161.81 Source: Wise API, 12 Sep 2026 |
Live in-app quote only SEPA EUR outbound can be £0 fee within fair usage on a weekday FX: Revolut-set rate (not mid-market) Weekend 1% and fair-usage overage shown separately where they apply |
Fee class often about £1.99 (+ Remitly rate) Express may cost more (e.g. £2.99 on some pages) Promo / first-transfer labels ≠ ongoing FX Recipient total: get a live quote in the app |
| GBP → USD (bank-class) |
Fee £4.60 Rate 1.35275 Recipient gets $1,346.53 Source: Wise API, 12 Sep 2026 |
Live in-app quote only Possible local-currency intl fee 0.15% (e.g. min £0.80, max £250) from 20 May 2026 FX: Revolut-set rate Fee sits on top of FX |
Fee class often about £1.99 (+ Remitly rate) Promo FX often first £500 only Recipient total: get a live quote in the app |
| GBP → INR (bank / UPI) |
Fee £5.14 Rate 129.281 Recipient gets ₹128,616.50 Source: Wise API, 12 Sep 2026 |
Live in-app quote only FX: Revolut-set rate Fair usage / weekend rules as above |
Fee class often £1.99 (+ Remitly rate) Promo first £1,000 common on this corridor Economy and Express shown separately Recipient total: get a live quote in the app |
The catch
- Wise: the fee varies by currency, amount and pay-in method, and balances are e-money safeguarding, not FSCS deposits.
- Revolut: 1% weekend FX and 1% once you pass your plan’s fair usage on Standard.
- Remitly: first-transfer promo rates (often on the first £500–£1,000) aren’t ongoing, its rate includes a margin, card funding can add cost, and it isn’t FSCS-protected.
Common traps
- A “free” transfer with a poor rate. Remitly and Revolut rates are not mid-market.
- A Remitly first-transfer promo that expires.
- Revolut weekend 1% plus the £1,000 monthly fair-usage cap.
- Wise card funding instead of bank funding.
- Remitly cash-pickup agent or partner fees (check in-app).
- Quotes that change after you start.
- Mixing travel spend cards with send services. See UK travel money cards.
- Assuming money sent with Remitly is FSCS-protected. Remitly says customer money is safeguarded, not covered by the FSCS, and the FSCS deposit limit is £120,000 from 1 December 2025, not £85,000.
- Assuming a Revolut balance is FSCS-protected without checking which Revolut entity holds it.
Moving a stored Wise or Revolut balance is not an ISA transfer and not a Current Account Switch Service move. Remitly has no balance to switch — each send is a new quote. See current account switch bonuses for what CASS actually moves, and banking for current-account context.
Important things to know
- Three products, three protection stories. They are not directly comparable.
- Any “our pick” on this page is based on dated details only.
- Wise sample £1,000 figures are API quotes from 12 September 2026. Get a fresh quote before you send.
- Revolut corridor totals need an in-app quote. Weekend and fair usage can change the cost.
- Remitly’s promo rate is not the ongoing cost, and Express and Economy prices differ.
- FSCS £120,000 applies only to eligible bank deposits. Wise, Remitly and Revolut Ltd are not deposit FSCS.
Check providers’ current offers
Wise
Good for: Wise may suit you if you want the mid-market rate with the fee shown upfront, or need to hold several currencies.
Mid-market FX plus a disclosed fee; multi-currency account.
Check Wise’s current offer →Revolut
Good for: Revolut may suit you if you already use the app and send euros on weekdays within your plan’s fair usage.
Transfers inside a banking app; watch fair usage and weekend FX.
Check Revolut’s current offer →Some links in this table are referral links. We may earn a commission if you use them, at no extra cost to you. Rankings are based on our review methodology, not commission.
Wise: mid-market rate plus a disclosed fee
Wise Payments Ltd is an electronic money institution (FRN 900507). You can hold balances, convert currencies, get local account details in 22 currencies, use a card, and send.
The FX rate is mid-market with 0% markup on the rate. The sending fee starts from about 0.24% and varies by currency, amount and pay-in method.
Sample live quotes, £1,000 bank-class, taken 12 September 2026 (about 11:45 BST): GBP→EUR fee £3.81, rate 1.16625, recipient €1,161.81. GBP→USD fee £4.60, rate 1.35275, recipient $1,346.53. GBP→INR fee £5.14, rate 129.281, recipient ₹128,616.50.
Speed (firm claim): 74% under 20 seconds; 95% under a day, method-dependent. Receiving into Wise: local details are free; Swift receive fees include examples such as GBP £2.16, EUR £2.39, USD £6.11.
Traps: card funding is usually costlier than a bank transfer or Wise balance. Fees vary — use the live quote. The balance is safeguarded e-money, not an FSCS deposit.
Revolut Standard: Revolut-set rate, fair usage and weekend FX
Revolut is still dual-entity as of 12 September 2026. Revolut Ltd (EMI, FRN 900562) uses safeguarding, not FSCS. Revolut Bank UK Ltd (FRN 981170) can hold eligible deposits under FSCS £120,000 once a customer has migrated.
Not every Revolut balance is FSCS-protected. Check Account details in the app.
The Standard plan is free. SEPA euro outbound is free.
Other international payments: from 20 May 2026, local-currency international sends can carry 0.15% with a min/max (for example GBP→USD local min £0.80, max £250); non-local can be a flat fee (for example £3 for USD/GBP/EUR/CHF from a GBP base). That international fee sits on top of FX.
FX uses a Revolut exchange rate, not labelled mid-market. Fair usage: £1,000 a month, then 1%.
That cap includes crypto and commodities. Weekend FX: 1% from Friday 17:00 to Sunday 18:00 Eastern Time on all exchanges.
There is no static £1,000 corridor total on the public fees page. An in-app live quote is required for a like-for-like recipient-gets figure. Speed: Faster Payments hours to one business day; SEPA Instant minutes or SEPA up to two business days; SWIFT up to two business days.
Traps: weekend FX; fair usage; international fee on top of FX; intermediary bank fees unless you choose a “pay all fees” option.
Remitly: send-only, Express vs Economy, promo rates are not ongoing
Remitly U.K., Ltd is a payment institution (FRN 728639). It is send-only. The recipient does not need a Remitly account.
The UK sender does not get a Wise/Revolut-style multi-currency account. Money is in transit, then paid out to bank, cash pickup, mobile wallet or delivery, depending on the corridor.
Fixed fees often sit around £1.99 on corridor pages; some show Economy £1.99 and Express £2.99. First-transfer marketing often says no fees for new customers.
Promo FX rates often apply only to the first £500–£1,000 and are not the ongoing rate. Remitly’s own rate includes a margin.
UK personal maximum: up to £75,000 per transfer (verification may be lower), plus 24-hour / 30-day / 180-day caps. Speed: Express vs Economy; firm claim that 90%+ of funded transfers complete under an hour (Q1 2026 metric).
Traps: promo expires; Economy vs Express; rates change after you start; cash-pickup partner fees may not appear on static UK pages; card funding can add cost.
A Remitly marketing blog (22 July 2026) still says “Authorised EMI” and quotes FSCS £85,000. Remitly’s user agreement (payment services; no stored e-money) and its live deposit limit say otherwise, and the legal terms take precedence.
Remitly is not FSCS-protected.
What we looked at (12 September 2026)
FSCS versus safeguarding
Eligible UK bank deposits are covered by FSCS up to £120,000 per person per authorised firm from 1 December 2025. The separate £85,000 limit applies to investments, not deposits.
Eligible UK bank deposits are covered by FSCS up to £120,000 per person per authorised firm from 1 December 2025. £85,000 is the investment scheme only — not the live deposit limit. E-money and payment-firm balances are not covered by the FSCS deposit scheme.
| Firm | Type | FRN | Protection |
|---|---|---|---|
Wise Payments Ltd |
EMI | 900507 | Not FSCS — safeguarding of e-money |
Revolut Ltd |
EMI | 900562 | Not FSCS — safeguarding |
Revolut Bank UK Ltd |
PRA bank | 981170 | Eligible deposits FSCS £120,000 (if the customer has migrated) |
Remitly U.K., Ltd |
Payment institution (PI) | 728639 | Not FSCS — safeguarding of relevant funds; no stored e-money account |
Not every Revolut balance is FSCS-protected — check Account details in the app for which entity holds the balance.
FCA PS25/12 tightened safeguarding for EMIs and payment institutions from 7 May 2026; that is still not FSCS. Full explainer: FSCS protection limits.
FCA PS25/12 tightened safeguarding for EMIs and payment institutions from 7 May 2026. That is still not FSCS. Full explainer: FSCS protection limits.
Authorised Push Payment (APP) fraud reimbursement for international app sends is generally outside the UK Faster Payments reimbursement scheme. Remitly points victims to the funding payment service provider first. That is a published position, not a claim that any send is “safe”.
Want the mid-market rate with the fee shown upfront?
Some links in this table are referral links. We may earn a commission if you use them, at no extra cost to you. Rankings are based on our review methodology, not commission.
Key takeaways
- Compare the total you pay and the amount that arrives — not just a headline “fee” or a flashy exchange-rate claim.
- Bank-funded mid-market providers and cash-pickup remittance brands suit different send patterns.
- Speed, corridor and payment method (bank vs card vs cash) can change the bill more than the brand name.
- Promos expire; re-check live rates before you send a large amount.
More on Wise
UK money transfers: FAQs
What is the difference between Wise, Revolut and Remitly?
Wise is a multi-currency e-money account that also remits. Revolut is a banking app that also remits. Remitly is a remittance specialist: you send, the recipient is paid out, and you do not keep a multi-currency balance with them. They are not the same product.
How do UK money transfer fees work?
Wise uses a mid-market rate plus a disclosed fee. Revolut uses a Revolut-set rate, with fair usage and weekend FX rules on Standard. Remitly uses its own rate with a margin inside, plus a fixed fee, and first-transfer promos are not the ongoing rate. Check the live quote before you send.
Is Wise covered by FSCS?
No. Wise Payments Ltd is an EMI. The balance is safeguarded e-money, not an FSCS deposit. Eligible UK bank deposits are covered by FSCS up to £120,000.
Is Revolut covered by FSCS?
Revolut is dual-entity. Revolut Ltd (EMI) uses safeguarding, not FSCS. Revolut Bank UK Ltd can hold eligible deposits under FSCS £120,000 once a customer has migrated. Not every Revolut balance is FSCS-protected. Check Account details in the app.
Is Remitly covered by FSCS?
No. Remitly U.K., Ltd is a payment institution. It uses safeguarding of relevant funds. It is send-only and does not give you a stored multi-currency account. It is not FSCS.
Wise vs Revolut for sending money abroad?
They are different products. , Wise may look cheaper on mid-market disclosed fees for bank-funded corridors, while Revolut may be £0 on SEPA within fair usage on a weekday. Different jobs, different leaders.
What is Remitly Express vs Economy?
Remitly offers Express and Economy speeds on many corridors. Fixed fees often sit around £1.99; some pages show Economy £1.99 and Express £2.99. First-transfer marketing often says no fees for new customers. Promo FX rates are not the ongoing rate.
Do weekend FX fees apply?
On Revolut Standard, weekend FX is 1% from Friday 17:00 to Sunday 18:00 Eastern Time on all exchanges. Wise does not publish a weekend add-on of that form. Remitly uses its own rate with a margin. Label weekend and fair-usage overages separately when they apply.
Is sending money abroad the same as a travel money card?
No. Sending money abroad is remittance. Spending or withdrawing on a UK card abroad is a different job. See UK travel money cards for card-spend and ATM extras.
Does the Current Account Switch Service move a Wise or Remitly balance?
No. The Current Account Switch Service does not move a Wise or Revolut e-money wallet. Remitly has no balance to switch — each send is a new quote. See current account switch bonuses for what CASS actually moves.