We've tested 12 providers across 40+ corridors. Here's the full comparison — fees, exchange rates, speed, and which one to use for your specific situation.
Indicative rate only. Wise adds a small fee (typically 0.35–0.5% on GBP). Always confirm the exact amount on wise.com before transferring. We earn a commission if you use this link — labelled AD above.
| Provider | Our Score | Exchange Rate | Transfer Fee | Speed | Action |
|---|---|---|---|---|---|
Wise Editor's Choice |
Mid-market | 0.35–2% | Instant–2d | Open Account | |
OFX |
Small markup | £0 | 1–2 days | Get Quote | |
TorFX |
Negotiable | £0 | 1–2 days | Get Quote | |
WorldRemit |
Small markup | £1.99+ | Minutes | Send Now | |
XE Money |
Small markup | £0 | 1–3 days | Get Quote | |
Currencies Direct |
Competitive | £0 | 1–2 days | Get Quote | |
Key Currency |
Competitive | £0 | 1–2 days | Get Rate | |
HSBC / Barclays |
3–5% markup | £15–30 | Varies | 2–5 days |
For the vast majority of UK expat transfers, Wise is the clear winner. The mid-market rate guarantee alone saves most people £50-200 per £5,000 transfer compared to their bank. Set up a Wise account as your default. For transfers over £10,000, always get a parallel quote from OFX or TorFX — their dealers can sometimes negotiate a better rate for volume. Use WorldRemit if your recipient needs cash pickup. That's it. There's no need to overthink this.
Wise's single biggest differentiator is the mid-market exchange rate — the "real" rate you see on Google, with no hidden markup. Every other provider in this list adds some margin to the rate; Wise separates the fee entirely and shows it clearly before you confirm. This transparency is why we recommend it as the default starting point. The Wise multi-currency account is also genuinely useful for expats — hold 40+ currencies, receive money in GBP/EUR/USD/AUD with local bank details, and spend globally with a debit card that charges fair ATM fees.
OFX suits expats making large, infrequent transfers — property purchases, pension moves, annual savings transfers. Their rate margin (0.4-1.9%) is higher than Wise's fee on small amounts, but for large sums the £0 transfer fee and ability to negotiate with a dedicated dealer makes them competitive or superior. They also offer forward contracts to lock in today's rate for a future transfer — useful if you're buying property and need rate certainty.
WorldRemit fills a gap that Wise doesn't cover: recipients who don't have a bank account or who need cash in hand. If you're supporting family in a country with limited banking infrastructure, WorldRemit's cash pickup network at 50,000+ agent locations is invaluable. Their exchange rates aren't as sharp as Wise's, but for the specific use case of cash delivery they're the best mainstream option. Also good for mobile money (M-Pesa, etc.) and airtime top-ups.
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