Ace Money international transfers: Fees, rates and transfer times

Need to make an international money transfer from the UK? You won’t be short of options, including money transfer specialists as well as banks. One such money transfer service is ACE Money Transfer.

In this guide, we’ll run through absolutely everything you need to know about ACE Money Transfer. This includes how it works, how to set up a payment and what details you’ll need to provide, along with fees, exchange rates and transfer times.

We’ll also show you how Wise might be a low-cost alternative for international money transfers - so you can send money to 160+ countries or receive money from 8+ at the mid-market exchange rate for only a low, transparent fee*.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

How do international payments with ACE Money Transfer work?

ACE Money Transfer works a lot like most other money transfer services. You can visit their website, select the country you want to send money to and enter the amount. You’ll then be able to see an estimate of how much money should be received, as well as the exchange rate and what the transfer should cost you.

If you’re happy with that, you can proceed to send your transfer. You’ll need to register for an account first, which you can do online or through your Google ID or social media profiles.¹

ACE offers the option to send a bank transfer, as well as cash pickup in some destinations in Latin America, Asia, the Middle East and Africa.²

What countries and currencies are supported?

ACE Money Transfer lets you send money to 100+ countries, in a number of major currencies. You can find the full list of sending destinations on its website.

While most of Europe is covered along with South America, Africa, Asia and the Middle East, there are a few notable exceptions on the list of supported countries.

At the moment, you can’t send money to the US, Canada, Australia, New Zealand, Singapore or Hong Kong with ACE.³ These are all countries that many other money transfer specialists cover as standard. So if you want to send to any of those, you’ll need to use another provider.

The upside though is that ACE Money Transfer does send to lots of countries that other services don’t. It all depends on what destination you’re looking to send money to.

Payment and delivery methods

ACE offers the following payment methods for international transfers:⁴

• Debit and credit card
• Google Pay and Apple Pay
• Bank transfer.

You can send directly to a bank account or in selected locations, even arrange for the money to be collected by the recipient in cash.

What are the fees for an international transfer with ACE?

Now we come to the important part - a look at how much it’ll cost you to use ACE Money Transfer.

The fees with ACE depend on the following factors:⁵

• Where you’re sending from
• Where you’re sending to
• The amount.

How you pay for the transfer and how the recipient receives it may also affect the fee.

As there’s no one fixed or flat fee, you’ll need to check the fee for your particular transfer on the ACE website.

Simply choose a destination and enter the amount you want to send. You’ll see the fee and the exchange rate, along with how much your recipient will receive at the other end. Bear in mind though that this fee may change once you choose a payment method at the next stage.

ACE Money Transfer exchange rates

Alongside the upfront transfer fee, it’s always important to check the exchange rate when making an international transfer.

Some providers add a mark-up on what is known as the mid-market exchange rate, which is how they make a profit on the transaction. But unfortunately, this means that less of your money makes it to your recipient.

So just because upfront fees appear to be low, this doesn’t mean there isn’t a ‘hidden fee’ within an unfavourable exchange rate.

ACE Money Transfer does add a mark-up to the mid-market rate, but it claims that this margin will never exceed 9%.⁵ You’ll see the exchange rate for your particular transfer while setting up the payment, so you can check that you’re happy with it before proceeding.

Remember that you can always check what the mid-market rate is for any currency pairing using the Wise currency converter.

How to make an international money transfer with ACE - step by step

Ready to make your first transfer with ACE? Here’s how to do it, step-by-step:

1. Go to the ACE Money Transfer website to register for an account, if you haven’t done so already. You can also use the ACE Money Transfer mobile app.
2. Make sure you’ve completed your profile, which involves filling in personal details and providing ID documents.
3. Sign into your account on the website or app.
4. Choose the destination country for your transfer.
5. Select the payment method.
6. Enter the amount.
7. Enter the receiver’s details (we’ll cover exactly what you’ll need next).
8. Check the details, pay for your transfer and confirm.

What do I need in order to make an international transfer with ACE?

Before we look at what details you’ll need to get from your recipient in order to send a transfer, let’s quickly cover how to register with ACE.

To create an account, you’ll need to provide the following:⁴

• Proof of ID, a colour photo of either your passport or driving licence
• Proof of address, such as a recent utility bill or bank statement
• Proof of funds (if requested), such as a payslip, self assessment statement or car sale receipt.

Now to send a transfer overseas, you’ll need the following details:

• The recipient’s name, address and bank account details
• Their International Bank Account Number (IBAN)
• For SWIFT payments, their bank’s Business Identifier Code (BIC) or SWIFT code.

What should I give to the sender in order to receive a transfer with ACE?

If someone else is using ACE to send you a bank transfer, you’ll need to give your sender all the same details as above.

This means your IBAN, SWIFT/BIC code and your standard account number and sort code. Check your IBAN number with our IBAN checker and we’ll tell you if it’s the right format.

How long does an international money transfer with ACE take?

If you’re paying for your transfer with a debit or credit card, your payment should arrive in a matter of minutes.⁴

If you pay by bank transfer, it could take between 1-2 days to arrive.⁴

When you send your payment may also affect the delivery time. The processing of your payment may be delayed at weekends and on bank holidays, for example.

How to track ACE money transfers

Once you’ve sent your transfer with ACE, you can track it and see when it’s due to arrive.

Simply go to the ACE Money Transfer website or app, and enter the transaction code you received when setting up the transfer.

ACE Money Transfer contact details

Need help setting up a transfer, or have a question? Here’s the info you’ll need to contact ACE Money Transfer customer services:⁶

• Call +44 161 3936 999
• Email help@acemoneytransfer.com
• Fill in the online enquiry form.

Wise - a convenient, low cost alternative for overseas transfers

If you regularly send money overseas, you’ll be looking for the cheapest and most convenient possible way to do it. After all, a few extra pounds in fees or a poor exchange rate can soon add up over time.

Wise is a great alternative to banks and other providers, as it’s fast, secure, convenient and fully transparent when it comes to fees and rates*.

Wise uses the mid-market rate with no mark-up added on top, just a low, transparent fee for all international transfers*.

Open a Wise account and you can hold 40+ currencies at once, and receive money from overseas for low to no fees using handy local account details.

Open your account 🌍

There’s also the Wise card, a contactless international card for spending in 150+ countries - which automatically converts currency at the mid-market rate whenever you spend for only a small conversion fee*.

Explore the Wise card 💳

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And that’s pretty much it - everything you need to know about making international payments with ACE Money Transfer. We’ve covered fees, exchange rates and how to make your first payment.

Just remember to compare fees and exchange rates before hitting ‘send’ - to make sure you’re getting the best possible deal on your international transfers.

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Sources used:

1. ACE Money Transfer - How it works
2. ACE Money Transfer - ACE Money Transfer Offers Cash Pickup Services in More Countries
3. ACE Money Transfer - Home
4. ACE Money Transfer - FAQ
5. ACE Money Transfer - Pricing - Transparency Statement
6. ACE Money Transfer - Contact Us

Sources last checked on date: 18-06-2024