Today, FXC Intelligence published its analysis revealing the money transfer companies with the best customer ratings.

This is the third year the market leading provider of cross-border payments data and intelligence has undertaken this research, having previously conducted similar assessments in 2021 and 2023, making it well-positioned to track changes in ratings across the past three years.

Online reviews are critical when consumers are choosing their providers, with negative reviews posing serious red flags for any consumer considering whether to trust a company with their money. Tracking online reviews also provide a valuable indicator of the focus companies are placing on the digital sector, with notable improvements suggesting increased investment while sharp drops raise concerns.

Of the 12 companies we assessed for this report, most had strong combined customer ratings in 2024.

Looking at the changes between 2023 and 2024, most players have seen only minimal movement in both Trustpilot and app store ratings. However, there are some exceptions to this. PayPal’s remittance brand Xoom has seen a 0.9 decline in its Trustpilot rating, which may be a reflection of the lack of priority the ecommerce giant has placed on the brand in the last few years.

By contrast, Ria has seen by far the biggest gain in its Trustpilot rating, which increased by 1.9 between 2023 and 2024, likely as a result of company efforts to improve this.

The biggest change in movement between 2021 and 2024 was Xoom, which saw a bigger Trustpilot decline of 2.25.

Lucy Ingham, Editor-in-Chief and Head of Content at FXC intelligence, said:

“Price is not the only driving factor when consumers are choosing their money transfer providers – online reviews give customers a valuable preview into the experience they can expect and whether the company can be trusted with their money.

“In a world where money movement is becoming increasingly digital, online reviews are paramount to a company’s success and offer valuable insight into a company's level of investment in digital platforms.”