When sending money abroad, speed can be just as important as cost. Whether you’re covering emergency expenses, supporting family, or preparing for travel, transfer time can make a huge difference. In 2025, the fastest option isn’t always the one people expect so how do banks, online platforms, and exchange houses compare?

This guide breaks down transfer speeds, highlights the pros and cons of each method, and helps you choose the right option based on your needs.

Why Transfer Speed Matters in 2025

• Emergency situations: If a family member or friend needs money urgently, a delay of days can create unnecessary stress.
• Daily needs for travelers and expats: From paying rent to covering travel expenses, immediate access to funds abroad is often essential.

For more tips on handling money abroad, see How to Manage Money While Traveling.

Bank Transfer Speeds Explained

Banks are a traditional option, but when it comes to speed, they often lag behind.

• Average processing time: Typically 1–5 business days, especially for international transfers.
• Delays: Transactions often pass through intermediary banks, each adding extra time.
• Other factors: Bank holidays, weekends, and differences in time zones can further delay transfers.

While secure, banks are rarely the best option if you need money to arrive quickly.

Online Platforms (PayPal, Wise, Remitly, etc.)

Digital solutions have transformed the way people send money:

• Speed: Many online services deliver transfers in minutes to 24 hours.
• Advantages: Fast, available 24/7, and accessible worldwide.
• Limitations: Require internet access, accounts, and sometimes charge higher fees for instant services.

Online platforms are ideal for convenience and quick transfers, but may not suit recipients without digital access.

Exchange Houses and Money Transfer Services

Exchange houses remain a top choice for those who need immediate access to cash.

• Speed: Transfers can often be completed within minutes to a few hours.
• Accessibility: Recipients can pick up cash in person, even without a bank account.
• Extended hours: Many exchange houses operate outside normal banking hours.

To learn how to save on costs while maintaining speed, read our guide on the Cheapest Ways to Send Money Abroad.

For more travel-specific options, see Currency Exchange vs. ATMs Abroad.

How to Choose the Fastest Option for Your Needs

• If speed is critical: Exchange houses and online services are usually fastest.
• If security is top priority: Banks are safe but slow.
• If you need balance: Online platforms offer a good mix of speed and convenience.

Trusted providers like Miami Money Exchange combine reliability, safety, and efficiency—helping you avoid delays while traveling or sending money abroad.

FAQs – Traveler Questions Answered

How long does a bank transfer take internationally?
On average, 1–5 business days depending on destination, currency, and intermediary banks.

Are online money transfers instant?
Some services are instant, but others may take a few hours depending on the payment method and destination.

How fast can I get cash at an exchange house?
Most exchange houses allow recipients to pick up cash within minutes, making them one of the fastest options.

What’s the fastest way to send money abroad?
For emergencies, exchange houses and online platforms are generally the quickest solutions.

Why do bank transfers take longer than online platforms?
Because banks must process transactions through multiple verification steps and intermediaries, which adds extra time.

Final Thoughts

When sending money abroad, speed is often the deciding factor. Banks provide security but are slower. Online platforms deliver convenience and quick transfers, though sometimes at a higher cost. Exchange houses, however, remain one of the fastest and most practical ways to send or receive cash—especially for urgent needs.

For secure, commission-free exchange services, Miami Money Exchange ensures your money gets where it needs to be—quickly and safely.