If you reside in the United Kingdom, you are residing in one of the top remittance countries worldwide. Following America and Canada, migrants in the UK send over $20 billion USD (£16bn) annually to their families and connections. However, experts from the World Bank suggest that the actual remittance flows could be significantly higher due to many individuals bypassing traditional banking institutions and major money-transfer companies. The charges associated with remittances vary depending on factors such as the destination country, transfer method, and other variables, with fees sometimes reaching up to 13% of the total amount being sent. Consequently, the costs associated with each transaction may differ. British migrants have long expressed dissatisfaction with these deductions, particularly when it comes to sending money from the UK. Additionally, concerns have been raised regarding the security of their funds during the transfer process.
The Department for International Development (DFID) takes a leading role in advancing the UK's efforts to contribute to a safer and more prosperous world. Ensuring secure money transfers from the UK to various countries is one of the ways in which DFID fulfills its commitments. In response to the growing challenges posed by terrorism and money laundering, DFID has intensified its surveillance measures to closely monitor suspicious activities in the region. Through a range of objectives, DFID assumes the responsibility of safeguarding the integrity of money transfer channels, particularly those involving the UK.
Over the past two years, DFID has implemented stricter measures to enhance the security of remittance flows. These measures aim to prevent unauthorized access and ensure that funds reach their intended recipients. By actively addressing the realities of terrorism and money laundering, DFID is resolute in honoring its commitment to secure and transparent money transfers, safeguarding the interests of both senders and recipients in the UK and abroad.
When it comes to sending money from the UK, CompareRemit offers a hassle-free solution. We understand your needs and strive to deliver the highest quality service. To initiate a transfer, simply visit our website or mobile app. From there, you can select the country you wish to send money to, choose your preferred payment method and amount, and compare exchange rates and fees from various remittance providers. Once you've made your selection, provide the necessary recipient details and review the transaction before confirming it. Our trusted partners in the UK will ensure that your money reaches its destination securely and efficiently, giving you peace of mind throughout the process. At CompareRemit, we are dedicated to providing a seamless and reliable platform for sending money from the UK. By adhering to international standards and partnering with reputable remittance providers, we strive to offer you the most reputable and dependable remittance services available.
Helps remittance users to find the best way to send money abroad to their loved ones, friends and family
Makes it easier & more profitable for businesses to make international payments & global transfer
Creates a marketplace for money transfer providers to reach out to a highly valuable remittance audience
CompareRemit is changing the way that people all across the world send money online. We partner with trusted remittance companies to allow you to compare your options every time you send money internationally. Factors are always changing when it comes to international money transfers, especially exchange rates. We provide you with real-time exchange rates from the top remittance providers in the industry so you can compare and choose the best current exchange rate offering for your desired transfer destination.
CompareRemit also enables you to compare transaction fees, transfer speed, and special offers so that you can make the best decision when choosing a provider to transfer money abroad to your friends and family. We proudly support providers offering online money transfers to India, Sri Lanka, Pakistan, Bangladesh, Nepal, Philippines and Mexico. Send money overseas using CompareRemit today!
A very nice, simple-to-use app where you can compare all remittance sites in one place. Also easy to find new offers and promotions on the site.
You can select best possible rate at one glance by going through CompareRemit. This is the best and I always prefer to choose CompareRemit to check the rates provided by an individual company and transfer money.
CompareRemit is an excellent platform to find your preferred money transfer provider. We appreciate doing business with CompareRemit, because we share the same belief: Transparency in rates and costs of international money transfer is essential to allow individuals to make an informed decision when sending money back home. Through the CompareRemit platform, we have been able to introduce ourselves to many new Indian TransferWise users.
Inez Miedema, Head of Affiliate & Partnerships
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