International money transfers can often feel complicated and expensive, leaving you searching for cheap ways to send money internationally. You may face challenges like hidden fees, unpredictable exchange rates, and complicated processes. These issues can make international transfers more expensive than anticipated, causing stress and uncertainty.

In a year, £187 billion was lost globally to hidden cross-border fees, making these transfers far more expensive than anticipated and causing stress and uncertainty. Whether you’re making regular payments or a one-time transfer, understanding how to minimize costs while ensuring speed and security can save you a significant amount of money over time.

To help you cut through the confusion and save money, we’ll uncover 6 cheap ways to send money internationally. With these options, you’ll be better equipped to manage transfers efficiently and avoid hidden costs.

1. Money Transfer Apps

Money transfer apps have become one of the most convenient and cheap ways to send money internationally. These platforms are designed to offer competitive exchange rates and lower transaction fees than traditional banking methods, making them one of the most cost-effective ways to send money internationally. These digital transfer services are, on average, around 3.5% – 4% cheaper than traditional bank transfers, offering better exchange rates and more transparent fee structures.

The following table provides an overview of several popular money transfer apps, comparing their coverage, transaction limits, speed, fees, and payment methods to help you choose the best option for your needs.

2. Bank Transfers

Bank transfers are another option for sending money internationally and can be done affordably when consulting your bank. Most banks use the SWIFT network and IBAN codes to facilitate these transactions, ensuring that funds are transferred securely.

Wire transfer fees generally range from $0 to about $50, depending on the bank and service type. Some banks also offer specialized services or partnerships with foreign banks that may help reduce costs and expedite transfers. The median wire transfer fee for the institutions surveyed is $15 for incoming domestic wire transfers, $25 for outgoing domestic wire transfers, $15 for incoming international wire transfers, and $45 for outgoing international wire transfers.

3. Cryptocurrency

Cryptocurrencies have transformed international money transfers by providing faster and cheaper alternatives to traditional banking. Cryptos like Bitcoin, Ethereum, and stablecoins (e.g., USDT) allow users to bypass intermediaries, significantly reducing transaction fees and speeding up transfers. Users can send and receive funds within minutes using blockchain technology, making it one of the most efficient methods for cross-border transactions and cheap ways to send money internationally.

How to Send Money Internationally with Cryptocurrency

• Choose a Cryptocurrency: Select a suitable cryptocurrency like Bitcoin, Ethereum, or stablecoins (e.g., USDT) based on your needs and fees.
• Set Up a Wallet: Obtain a crypto wallet (e.g., MetaMask, Trust Wallet) to store and manage your assets securely. You can also use a hardware wallet for added security.
• Buy Cryptocurrency: Purchase your chosen cryptocurrency from a regulated exchange.
• Initiate the Transfer: Use your wallet to enter the recipient’s wallet address and the amount to send. Confirm the transaction and the funds will be transferred over the blockchain network.
• Recipient Receives Funds: The recipient’s wallet reflects the transferred funds almost instantly, allowing them to convert it back to fiat currency if needed.

Source: CoinRemitter

4. Bank Drafts and Money Orders

Bank drafts and money orders are traditional methods for sending money internationally, offering a secure way to transfer funds. These options are ideal for those who prefer not to use digital platforms or do not have access to online banking services.

Bank Drafts

A bank draft is a payment instrument issued by a bank, guaranteeing that the amount will be paid upon presentation. It’s a secure method, as the bank verifies the funds before issuing the draft.

Bank drafts typically have fees ranging from $5 to $25, depending on the bank and the amount being transferred, making them a practical choice for those needing to send larger sums. However, they are often mailed so that processing times can be longer than for digital transfers.

Money Orders

You can buy money orders from banks, post offices, and retail locations such as grocery stores and drugstores. They are widely accepted and can be cashed or deposited at

Money orders are ideal for those without checking accounts or for sending funds internationally. Although there is a fee for buying a money order, it’s generally a small fraction of its value. The U.S. Postal Service charges $2.35 for money orders up to $500 and $3.40 for those between $500.01 and $1,000, with special reduced fees available at military postal service locations.

5. Personal Checks

A personal check is a paper-based payment method drawn directly from your checking account, allowing you to transfer funds to a recipient. It includes your account and routing numbers and acts as a promise that funds will be available when the recipient cashes it. While personal checks are slower and less commonly used than digital transfers, they are still considered a cheap way to send money internationally, especially for specific transactions like paying rent or securely mailing money.

The cost for a box of checks typically ranges between $5 and $15, with additional expenses for envelopes and stamps. Some banks may even provide a free first box of checks as part of their checking account services, making it an affordable option for those who prefer traditional methods over digital transfers.

6. Bank Deposit

A bank deposit is a secure and straightforward method for transferring money internationally, ideal when both the sender and recipient have accounts at the same or partner banks. This process involves directly depositing funds into the recipient’s account using their bank details.

While convenient, international bank deposits may incur fees ranging from $10 to $50, depending on the banks and countries involved. Processing times can vary, often taking a few business days. Despite potential delays and currency conversion fees, bank deposits provide a reliable option with a clear transaction record.

DSGPay: Your Solution for Cheap Ways to Send Money Internationally

We’ve covered all the cheap ways to send money internationally, and it’s clear that finding an affordable and efficient option can save you both time and money. If you want a secure and affordable way to transfer money internationally, let us introduce you to DSGPay. Our platform offers competitive fees, starting at just $0.80, tailored to various countries and transaction types. With DSGPay, you get transparent pricing and no hidden fees or unexpected charges, making it easy to plan your transfers.

What Set Us Apart

• Licensed and Regulated: We are a licensed Money Service Operator (MSO) in Hong Kong and regulated by AUSTRAC in Australia. These licenses ensure that our operations comply with the highest regulatory standards, providing you with a secure and trustworthy payment solution.
• Dedicated Virtual Accounts: We offer dedicated, named virtual accounts held with prestigious institutions like DBS Bank in Hong Kong, as well as banks in the USA, UK, and across Europe. These accounts provide our clients with personalized banking experiences and enhance the ease and efficiency of managing international payments.
• Local Collection and Payout Solutions Across Asia: Our local Asian payment solutions cover both Business-to-Business (B2B) and Consumer-to-Business (C2B) transactions, giving you access to a wide range of local collection and payout options. This makes it easier for your business to penetrate diverse and challenging markets across Asia with seamless payment integration.
• Reliable SWIFT Payment Rail: For international transactions, we utilize the SWIFT payment network, known for its reliability and global reach. This ensures your cross-border transfers are secure, fast, and efficient, meeting the demands of your global business operations.
• Support for Global and Exotic Asian Currencies: We provide extensive currency support, not only for major global currencies like USD, EUR, and GBP but also for a wide range of exotic Asian currencies. This flexibility allows your business to operate efficiently across multiple regions, maximizing opportunities in both established and emerging markets.