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How to Send Money to the UK: A Comprehensive Guide to Hassle-free, Secure, and Low-cost Money Transfers in 2023

If you are trying to send money to the UK, you have plenty of options to ease the process. The money transfer phenomenon dates back to the onset of human civilization. 

People used to rely on informal ways to send money to their families. Telegram was one of the most common options in the early 18th century. The senders took the money to the telegram office that charged a small fee. They would then send the telegram to the predefined location. 

The process, later on, became widely known as a wire transfer. In the late 18th century, the Western Union launched its first money transfer initiative. It marked the beginning of a formal and swift money transfer across the nations.

Factors to Consider

The latest ways of money transfer involve multiple aspects you need to know about. These can help make the process suitable for your needs. Here are some key factors to remember when choosing the best service to send money to the UK.

  • Exchange Rates

Transfer Service

Exchange rates are essential to understand when you are sending money abroad. Each currency has a particular value that helps it buy certain goods. The value determines its stability and its growth. Therefore you should know the value of the currencies at both ends. The UK uses the pound as the standard currency. 

The dollar is slightly more powerful than the pound if you reside in the US. You can calculate the total exchange rate by comparing your currency to the pounds. 

You need to divide the pounds by your currency to get the result. You can find the exchange rate of 1 pound to your native currency. The result will help you decide your budget and calculate the amount you need to send to achieve a certain value in pounds. One key aspect to note about the exchange rate is that some money transfer services often use unfair exchange rates that end up eating into the amount you send.

  • Fee

Whatever platform you choose for your international money transfer, you need to pay a certain fee. These sites charge an amount to send you money across borders. If you are a constant traveler, you can get caught up in these charges and may lose a huge amount of money. Therefore it is important to ask about the fee before you select a money transfer platform. 

Both parties may have to pay a certain fee in some money transfers. The amount is used to cover expenses such as tax and bank fees. Every platform has to buy and sell the currency to help users transfer the amount. Therefore they must ensure that the exchange is printable on their end. Hence they cut a small fee. However, you should ensure that this amount does not take a major portion of your money.

  • Functional Across Borders

The border regulations, exchange rates, and taxes may prevent money-transfer companies from listing all the countries. Some companies may work in countries which may not offer them profitable exchange rates, while others do not. Therefore you must ensure that the platform you select for the money transfers works in both countries. The most common ways for international money transfers in the UK include Payoneer, Wise, Western Union, and WorldRemit.

  • Duration

The most attractive feature of a money transfer platform is its efficiency. Most platforms may take weeks to send money to the UK. However, multiple options can provide you with swift service. They may take 2 to 3 working days to transfer your money in the UK.

Ways to Send Money to the UK

There are multiple ways through which you can perform your international money transfer. These involve the traditional route of banks and the comparatively newer techniques of using online platforms. Nevertheless, after knowing about each, you can find out which suits your requirements and budget. 

The following are the ways you can send money to the UK:

  1. Online Transfers
  2. Physical Banks

1. Online Transfers

Transfer Service

These are comparatively faster and more convenient methods. Almost all of them allow you to send money to the bank account of your loved ones residing in the United Kingdom. 

These platforms do not require you to visit the bank. Instead, you only log into their online platforms and initiate the transfer, which they will complete on your behalf. The top services are transparent regarding their transfer processes. Therefore, they are preferable to bank transfers. They provide you with the data on the transfer fees required to send the money. Moreover, you may not have to go through a lengthy process to ensure that your money safely gets into the recipient’s bank account.

Several platforms may offer you these services. However, each one slightly varies. After carefully reviewing the possible services, we can confirm that Payoneer is the clear winner.

What Is Payoneer, and How Does It Help Sending Money to the UK?

Payoneer is an online money transfer platform that helps send money. It is a convenient and affordable way to send money, and it offers a variety of features that make it a great choice for those looking to send money to the UK. While there are many ways to send money to the UK, Payoneer tops the list as the cheapest, most secure, and most convenient money transfer service. 

Payoneer Features

  • Globally Operational

Payoneer is the most accessible online platform to send money in the United Kingdom. Remember how you can send and withdraw money from your local account without hassle. 

Payoneer intends to replicate that ease on a much higher global level. Moreover, it supports the currencies of more than 150 countries. Therefore it is the best alternative for bank transfer.

  • Convenient Process

One outstanding aspect of Payoneer is that it offers a convenient process to initiate funds transfers. Payoneer requires you to sign up for an account on their website before using its services. They require you to enter your name, date of birth, and email. The company also requires you to verify your information. 

These security checks ensure that your account remains secure. Moreover, you can also add an amount to your payoneer wallet and pay directly to anyone in the United Kingdom. Once your account is active, you can go on to the payment options and select your payee and proceed to send money.

  • Transfer Fees

If you send money from one Payoneer account to another in the United Kingdom, you do not have to pay any hidden fee. However, you must pay 3% of the total amount if you receive debit card or credit card payments from a client. The fee deduction may then depend on the total amount.



2. Using Banks

Transfer Service

Banks usually use SWIFT for international money transfers. The Society for Worldwide Interbank Financial Transactions (SWIFT) oversees the money transfer. When you send money using SWIFT, you use the wire transfer facility of your bank. These money transfers require you to provide details, including your name, address, and amount. Additionally, there is a SWIFT code that you also have to provide.

The system is spread across multiple countries and acts as a messenger to transfer money across borders. Therefore it has to go through an intermediate bank to ensure that money reaches the location. In some cases, your money might pass through three to four banks. 

Each of the components in the SWIFT system has a particular code that is essential to send money securely. Moreover, you will have to deal with exchange rates if these banks are in different countries with variable currencies. These can be quite hefty and may even reduce the sent amount if the recipient has to pay for them. 

If your bank has a branch in the UK, it will be easier to send money. However, you might rely on these networks if it does not. Moreover, you can make online payments. However, sometimes, the recipient may have to go to the bank or talk with customer service representatives. 

The money transfer may take up to 5 days. You may also have to keep up with every update to ensure that your money is in the process. These aspects can make the money transfer quite complicated. However, these wire transfers are secure, and the money eventually reaches the recipient’s bank account.

How to Use Payoneer to Send Money to the UK

To transfer money from Payoneer to a bank account or another Payoneer account is a no-brainer. The platform saves you from the hefty exchange rates and allows cross-border payments without inconvenience. Whether you have a freelancer or an e-commerce supplier in the United Kingdom, you can transfer money to them with a few clicks. 

Log in to your Payoneer account, select your payee or add a new one by providing their Payoneer account details and then release the amount. Once you have sent the money, you can monitor the process until it reaches the recipient.

Alternatives to Sending Money to the UK

There are plenty of other options available for sending money to the bank account of your loved ones. These include money transfer apps such as Paypal, Wise, and direct bank transfers. However, these alternatives may not offer you better exchange rates. The transfer fee is usually quite large. Moreover, the money transfer service may take more than two working days. Sometimes, the money transfer company may fail to update you on the process.


Payoneer provides the most reliable method to transfer money to any bank account. It carries out international money transfers better than any other company. A highly satisfied customer base also helps Payoneer achieve market credibility. 

They are transparent regarding their operations and ensure that they make the online money transfer process smooth. Therefore forget about the bank transfer hassle. Sign up using their website or app and enjoy the process.

For more deep dives into sending money, visit our resource page.