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How to Send Money Instantly in 2024: the Ultimate Guide

Some money transfer providers let you send money instantly. Under the right circumstances, you can use apps like Wise and PayPal to send money in minutes.

Lots of things can make it more difficult to send money instantly. Some payment methods like ACH bank transfers can slow down your transfers. So can sending large amounts of money, or sending to particular countries. Read on to find out how to send money abroad instantly.

Mehdi Punjwani
Author 
Mehdi Punjwani
Fact Checker 
Elliot Laybourne
4 minutes
January 16th, 2024
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How to make an instant international money transfer

If you want to send money abroad instantly, your best bet is to compare different money transfer providers to see who offers the best speed and rate for your transfer.

  • Just tell us how much you want to send and to where, and we’ll show you a list of providers who offer that transfer.

  • You’ll be able to compare different providers by the overall exchange rate, the fees you’ll pay, the speed of the transfer, and how you’ll be able to fund the transfer, and any features included with the provider.

  • Once you’ve chosen who you want, just sign up with a few details and you’ll be ready to send money. You’ll need to provide the recipient’s details, including their name, address, account details and currency they will collect the money in. Remember to be accurate - the name you give must match their bank account name exactly.

  • When you’ve filled in all the information, just pay for your transfer and take note of the transaction number/ID.

Fastest providers for international money transfers

Ranking

Provider

Transfer Speed

Get Started

🥇

Wise

1 - 2 business days in most cases

Visit Wise

🥈

Xe

1 - 4 business days

Visit Xe

🥉

Instarem

0 - 5 business days

Visit Instarem

#4

WorldRemit

2 - 3 days

Visit WorldRemit

#5

TorFX

1 - 3 days

Visit TorFX

Different ways of making an instant money transfer abroad

Different providers will let you send money abroad via:

  • Bank transfer: You’ll be able to send money from bank account to bank account via the money transfer provider, usually quicker and cheaper than going via bank wire transfer alone

  • Cash pickup: You can also send money to a local cash pickup and delivery agent near the recipient, so they can collect the money

  • Mobile wallets: Some providers offer a connection to local and global mobile apps that mean you can send money directly to another person’s mobile wallet

The fastest way to send money is usually via cash pickup, as it's often ready for collection as soon as you've deposited the money on your side.

How much it costs to send money instantly

The cost of sending money abroad as fast as possible will depend on where you’re sending as well as how much - it can be broken down into two main parts.

  • Fees: Some money transfer providers charge a fee as part of their service, which can range from one or two dollars to over 20

  • Exchange rate markup: You’ll also likely be charged a markup on the exchange rate, which can have a bigger impact on larger transfers

Where you can send money instantly

Generally speaking, it’s possible to send money immediately to most locations, but it depends on the provider. Companies like Western Union and MoneyGram have global agent networks that allow instant transfers to almost every location.

However, instant services may be harder to find on less commonly-used transfer routes. It is best to check the exact transfer time with the company before initiating the transaction.

Sending large amounts of money instantly

You’ll find that most money transfer companies have limits on how much you’ll be able to send via the fastest methods, so it will depend on how you define ‘large’. Generally speaking you might find it difficult to instantly transfer amounts larger than a few thousand dollars.

Are instant money transfers reversible?

Instant money transfers are not reversible as they are processed as soon as you make the payment, so there is no opportunity to stop the payment before it is delivered. This is why it’s important to check all details thoroughly before sending money.

Sending money faster online

To ensure your money transfer goes as smoothly and as quickly as possible, always keep the following in mind:

  • Customer service: It can help to look for providers that offer fast customer service around the clock in case you run into any issues, so you can try and resolve them quickly

  • Correct details: Be sure to fill out every single detail carefully and accurately, otherwise you may find your transfer is delayed or cancelled

  • Delivery: Choosing the right delivery method is also important - remember cash pickups and, if possible, mobile wallet payments usually let you send money instantly but bank transfers will usually take longer

  • Payment: It’s also quicker in general to pay for transfers via credit or debit card, rather than bank to bank transfers

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FAQs

What is the best way to send money instantly?
Will sending money instantly always be the cheapest way to send money?
Do money transfer companies offer faster money transfers than banks?
Can I instantly send money through my bank account?
Can I send money instantly through PayPal?
Are there apps that allow you to send money instantly?
Do you pay tax on instant international money transfers?
How do you transfer money between banks instantly?
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Contributors

Mehdi Punjwani
Mehdi is an accomplished writer and editor, specializing in personal finance with over five years of experience. His expertise is reflected in his work for prominent brands such as MoneySuperMarket, Equifax, and The AA. Additionally, Mehdi contributes as an author at USA Today, further showcasing his proficiency in the field.
Fact Checker
Elliot Laybourne
Elliot Laybourne is a seasoned financial professional with a 20-year tenure in investment banking in the City of London. His career includes pivotal senior roles at prominent institutions like ABN Amro, Societe Generale, Marex Financial, and Natixis Bank. Elliot's expertise is particularly notable in commodity derivatives and options market-making. Throughout his career, he has served an impressive roster of clients, including Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System.