Best Money Transfer Service Promotions, Bonuses, Offers – July 2020

Whether you want to send money to a friend right next to you or a family member living abroad, there are plenty of money transfer services that can get the job done. But what’s the BEST way to send money? I’ve drawn up a list of top providers, each with unique offerings. There’s bound to be at least one that just might fit what you’re looking for in a money transfer service.

Chase Premier Plus Checking℠ $300 Bonus	Chase Total Checking® $200 Bonus
Bank of America Checking $100 Bonus	Chase Total Business Checking® $300 Bonus
HSBC Advance Checking $200 Bonus	HSBC Premier Checking $450 Bonus
TD Bank Checking $150 & $300 Bonuses	You Invest℠ by J.P. Morgan Up To $725 Bonus
Ally Invest Up To $3,500 Bonus	Betterment 1 Year Free

Top Money Transfer Service Promotions

Here are some good promos for sign-up and referrals for various money transfer service providers.

Cash App $5 Sign-Up Bonus

Earn a $5 bonus when you download the Cash App, register a new account, and send your first $5 within 14 days with a linked debit card. You’ll need to use a current member’s referral link for the offer.

We have a referral link (referral code is SNTGQWX) below you can use. Thank you ahead of time!

Cash App offers page here.

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Remitly $20 Sign-Up Bonus & $20 Per Referral

• Get $20 off your first transfer of $100+ when you use our referral link to sign up. Thanks ahead of time if you use our link!
• New customers only
• One per customer

Remitly offers page here.

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TransferWise Free International Transfer Offer

Use our referral link below (thanks ahead of time!) to get a free international transfer of up to $500. Once you have an account open you can start making referral bonus money as well.

TransferWise offers page here.

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MoneyGram Get 20% – 40% Fee Discounts

MoneyGram has a rewards program called Plus+ Rewards where you can save on their fees. You’ll get a 20% off welcome gift fee discount on your second transaction after enrollment. Then, you’ll get a 40% off fee discount after every 5th transaction, which is applied to the next transaction.

Once you log in, you’ll find the “Plus Rewards” menu with all the info.

MoneyGram offers page here.

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WorldRemit 3 Fee-Free Money Transfers

• Pay zero fees when you send your first 3 money transfers with WorldRemit
• Add the promo code 3FREE when you complete a transfer

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WorldRemit Zero Fee For Your First Money Transfer

• Pay no fees on your first money transfer with WorldRemit
• Add the code FREE in the promo code area when you pay for your transfer

WorldRemit offers page here.

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Xoom $10 Sign-Up Bonus

Update: Check the link, but the referral program is currently on pause.

Get a $10 Amazon eGift card when you use our referral link (thank you ahead of time!) to register for a new account and send at least $50 in your first transaction.

*Note, we’ve tested our referral link and the $10 offer doesn’t display on the sign-up page. You’ll need to go through the sign-up process and send/transfer $50+ to qualify.

Xoom offers page here.

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Updated Money Transfer Services List

Here’s our current list of the best Money Transfer Services. Some services have sign-up and referral promotions.

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Money Transfer Services: Things To Look For

As with any service, you’ll find that each money transfer provider has its own strengths and weaknesses. For example, Western Union is great if you’re looking for speed and accessibility. However, it falls short on competitive fees and rates. Other companies give you robust tools to protect your international payments from the fluctuating market and predict when it’s the best time to transfer.

Products

All providers will offer one-off payments, but some will go the extra mile and also arrange regular transfers or secure an exchange rate for a future transaction.

Spot deal. Lock in the current exchange rate on the spot for a transfer you will initiate in the next 24 hours. Because rates are constantly fluctuating, this will ensure that you’ll be getting the exchange rate you want when your payment goes through.  

Recurring transactions. If you have to make a transfer regularly, you can set up bi-weekly, monthly or quarterly payments to occur automatically. Sometimes, the provider will waive transfer fees if you sign up for recurring transactions. You might even have the option to lock in a fixed rate for all your payments.

Forward contract. Much like spot deals, forward contracts let you lock in a good exchange rate, but it lasts a lot longer – usually three months to a year. Most of the time, you’ll need to pay an initial deposit in order to lock in the rate. Then you’ll need to cough up the rest of the money when the time comes to make the transfer.

Limit or firm order. If you don’t have time to constantly check exchange rates, you can create a limit order. Just propose an exchange rate you’d like to see, and the provider will monitor the rates for you. Once it reaches your target number, the provider will perform the transfer automatically.

Transfer Fees

Most providers charge a flat fee or a percentage of your transfer for every transaction you make. The rare few will do it for free. Be sure to compare exchange rates as well to make sure you’re getting the best combo deal.

Exchange Rates

For the best value, locking in a great rate is important. That way, your recipient will get the most money out of the deal, rather than a big chunk of your cash slipping its way in your provider’s wallet.

When you’re comparing exchange rates, you’ll want to first know the mid-market rate for your currency pair. The mid-market rate is what your money is actually worth on the global market compared to another currency. It’s used as a baseline to measure against the rates given by your bank or transfer provider. You can easily find current mid-market rates with a quick Google search.

Transfer Speed

There are plenty of providers who can get money to your family and friends at a good price, but if it needs to get there quickly… well, that’s a different story. Only a handful of companies allow for almost instantaneous deposits and cash pickups, namely Western Union, MoneyGram and Xoom. However, fast transactions often equate to higher costs. Make sure to balance the provider’s exchange rates and transfer fees against your need for speed.

Transfer Limits

If you have to send large amounts of money at a time, transfer limits will be your number one priority. You’ll want to take a closer look at the exchange rates and transfer fees when comparing providers. Most will reward large transfers with low fees and competitive exchange rates.  

Payment & Delivery Options

Providers offer different ways for you to fund your transfer: in person at agent locations, through an app, with a bank account, debit card or credit card, online or by phone. Recipients also have various delivery options including cash pickup, bank account, debit card and mobile wallet deposit, and even home delivery.  

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OFFER LINK	OFFER	OUR REVIEW
Chase Total Business Checking®	$300 Cash	Review
Chase Premier Plus Checking℠	$300 Cash	Review
Chase Total Checking®	$200 Cash	Review
Bank of America Checking	$100 Cash	Review
TD Bank Beyond Checking	$300 Cash	Review
HSBC Premier Checking	$450 Cash	Review
HSBC Premier Checking	Up To $600	Review
HSBC Advance Checking	$200 Cash	Review
HSBC Advance Checking	Up To $240	Review
You Invest℠ by J.P. Morgan	Up To $725	Review
Ally Invest	Up To $3,500	Review
Betterment	1 Year Free	Review