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Send money online instantly

Sometimes you need to send money overseas urgently: it could be an unforeseen crisis, to pay a bill that is overdue, or for a loved one who is overseas and needs help. Whatever the case may be, if you need to send money instantly, there are plenty of options out there, but you will need to find the best money transfer provider for your needs. This helpful guide will take you through all the information you need to send money online instantly.

Updated: 25/10/2022
Read time: 12 minutes
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Can I send money online instantly?

Sending money ‘instantly’ usually means completing a transfer within seconds or minutes, rather than immediately, and with some providers this is indeed possible. However, not all money transfers are this quick – it will depend on whether the transfer is domestic or international, the payment method you use, and the type of transfer you make.

Domestic money transfers are usually close to instant, but international money transfers are usually more complicated and sending money abroad in seconds can sometimes be more expensive than waiting for a few hours or days.

Can I send large amounts of money instantly?

You’ll find that most money transfer providers 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.

What are the fastest providers for international money transfers?

RankingProviderTransfer SpeedGet Started
🥇Wise1 – 2 business days in most casesVisit Wise
🥈Xe1 – 4 business daysVisit Xe
🥉Instarem0 – 5 business days Visit Instarem
#4WorldRemit2 – 3 daysVisit WorldRemit
#5TorFX1 – 3 daysVisit TorFX

How do I make an international money transfer instantly?

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.

Find the fastest money transfer provider

 
   
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What ways can I make 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 does it cost 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 can I 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.

How can I send 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

Article Factchecked by Elliot Laybourne on 20th July 2022

Elliott is a former investment banker with a 20 year career in the city of London.

During this time he held senior roles at ABN Amro, Societe Generale, Marex Financial and Natixis bank, specialising in commodity derivatives and options market-making.

During this time, Elliott’s client list included Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System, amongst others.

FAQs


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Mehdi Punjwani

Mehdi is a writer and editor with over five years of experience in personal finance, writing for brands including MoneySuperMarket, Equifax and The AA. He graduated from Brunel University with a BA and MA, and likes to spend his free time hiking, travelling, and reading.

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