Do you want to start a money transfer business by buying a franchise? If YES, here are 7 best money transfer franchise opportunities for sale and their cost. Money transfer operators (MTOs) are known to be financial companies that are engaged in cross border transfer of funds using either their internal system or access to another cross-border banking network.

Note that these money transfer businesses are not banks, but they are sometimes affiliated to banks for the sake of their transactions. According to the World Bank, total remittances sent in 2016 were above the $530 billion mark and it had grown at a CAGR of 10.4% since 2000, representing a significant global services market.

The united states has great use of money exchange businesses as the remittance market in the country accounts for nearly a quarter of the remittances sent worldwide. In 2019, the global remittance market is expected to surge up to $616 billion, and approximately $450 billion of these funds go into developing countries in the form of remittances.

Money transfer business is indeed very lucrative, and the business is still very much open for new entrepreneurs. If you do not want to go through the stress of setting up your own money transfer business, you can choose to become an agent to one of the many successful money transfer businesses in the United State. Here are a few of them:

7 Best Money Transfer Franchise Opportunities for Sale and Their Cost

  1. Exchange4free

Exchange4free offers a professional foreign exchange and money transfer service to clients in the United States and other countries of the world. The business was established in the united kingdom in 2004 and has since expanded to over 40 countries worldwide.

Today, Exchange4free is one of the fastest growing foreign exchange and money transfer companies in the world with a model based on service excellence, leading technology and a best price guarantee for clients. The business services over 30,000 private and corporate clients in over 100 countries worldwide.

Exchange4free is offering suitable and interested partners across the world an opportunity to join and be part of one of the fastest growing foreign exchange and money transfer companies in the world. Exchange4free can provide the technology, platform, expertise and global network needed to set up a winning foreign exchange money transfer business immediately.

The company is looking to offer foreign exchange and money transfer business opportunities to country partners in Africa, South America, Asia, Middle East, Central America and Eastern Europe.

Exchange4free will manage all day to day operations, FX trading, hedging and risk management related to the business from a centralized global treasury, thus allowing their partners to grow and build their brand in their chosen country.

If you are interested in the above opportunity or require more information then please kindly email them at: [email protected]

  1. MoneyGram

MoneyGram is a well-known money transfer and cash-delivery service that provides services worldwide. The company has more than 200,000 agents around the world that operate like franchisees, because they carry the MoneyGram brand and provide a variety of established customer services, including funds transfer, debit cards, money orders and bill payment.

MoneyGram agents operate from locations that have a large cash flow, an established customer base and can provide secure money transfers. You can make a straightforward request to the company to be considered as a MoneyGram agent.

If you want to become an agent for MoneyGram, you need to first of all visit their website to familiarize yourself with the company’s products and services. Once you are there, you should click the “Become an Agent” link and read the overview of MoneyGram’s agent network.

Fill in the online “Agent Interest Form” with your identification information and details of your business, including the number of locations you operate. Use the “Additional Comments” field to describe your business if it is not self-evident from the business name.

Click “Submit Form” to send your information to MoneyGram. A representative from the company will contact you for additional information and to discuss the qualifications for becoming a MoneyGram agent.

  1. Western Union

Western Union is one of the largest money transfer businesses in the world. This remittance agency partners with thousands of businesses to distribute services that range from money transfers and money orders to bill payments. These partners, which Western Union refers to as “agents,” operate much like franchisees in providing familiar services in a uniform manner from a well-known brand. You can begin the process of becoming a Western Union agent by submitting a pre-qualification application form.

To become a Western Union agent, the first thing you have to do is to Visit the Western Union website to familiarize yourself with the company’s three main areas of agent services. Next, you need to call Western Union at 1-800-325-6000 to ask any questions you have about the different services or about specific requirements for agents to offer these services.

Western Union does not publish the requirements for agents but can discuss with you and help you find out whether your business is a good fit based on factors such as your location, amount of foot traffic and your overall Business model.

Download the agent pre-qualification form from the Western Union website. Fill out the form with your business and contact information and indicate the categories of services you are interested in providing.

Fax the completed form to the Western Union Credit Department at 800-322-0277. You will hear from the company within 15 business days as to interest in taking your business on as a Western Union agent. How Much Does a Western Union Franchise cost?

It is interesting to note that a Western Union franchise would not cost you anything. There is no Franchise fee or royalty fees with Western Union. If you have all the equipment that is required (computer, printer and an internet connection) – then there’s even no investment required. Western Union will even provide you with a free sales starter kit, some marketing materials, and also their money transfer software.

  1. Xpress Money

Xpress Money is powered by partnerships that have a robust network in more than 170 countries across all continents through over 185,000 locations. Their global network of partnerships include renowned international money transfer operators (IMTOs), banks as well as non-banking institutions, telcos, retail chains, online remittance players and fintech companies.

Backed by 2 decades of experience in the remittance industry, the company has designed tailor-made solutions which can be tweaked based on the needs of any business outfit. Irrespective of whether you wish to expand your pay-out network or require a complete re-haul of your remittance interface; they can help you annihilate any obstacles to enable a seamlessly functioning business.

  1. Paysera

Paysera is an international money transfer, currency exchange and e-payment processing business, which has successfully been operating since 2004. They bring technology and payments together by creating simple, fast, price-friendly payment solutions for all clients, anywhere and at any time.

By providing convenient payment services at acceptable prices via new technologies, they seek to build a world where electronic payments have no boundaries, are simple, fast, and reliable.

Currently, Paysera has a core team of over 100 employees. They cooperate with more than 50 banks within the European Union and serve hundreds of thousands of clients worldwide. In 2012, Paysera obtained an unlimited European electronic money license and continued developing business internationally.

In 2016, headquarters were established in the United Kingdom and franchise development began. Currently, they are looking for international partners to join their rapidly growing network of franchisees. By becoming a franchisee, you will instantly get access to cross-border online transfers, a payment-processing platform, and necessary business systems.

You will also be provided with system integration and service adaptation, access to a multinational infrastructure of banks and other partners, the necessary training and support, as well as marketing and sales materials. If you want to become an agent or franchisee of this company, then you have to contact hem directly.

  1. Ria

Ria is one of the largest money transfer companies in the world. Since 1987, the company has provided a cost-effective, secure and fast alternative to sending money worldwide. Ria has emerged as a global leader in remittances and is recognized as a brand that stands for quality and service.

As their extensive network of agents and correspondents continues to grow, they remain steadfast in their commitment to their customers and continue to be a part of the communities where they live.

By choosing to partner with Ria, you will help people send their hard-earned money to where it’s needed most. To become a Ria agent in the United states, you just have to go to their website and complete the application form there, thereafter you submit the application and wait for your confirmation call in 48 hours. It is that easy.

Being an authorized Ria agent will attract more people to your business. Best of all, there is no risk to get started, since Ria doesn’t require an upfront financial investment.

  1. TransferWise

TransferWise was founded by two friends who found themselves in the same problem of money transfer. These friends are both from Estonia. Taavet was the first employee at Skype, so he got paid in euros. But he lived in London, and needed pounds to pay his bills. Kristo worked for Deloitte and lived in London. He got paid in pounds, but had a mortgage back in Estonia. He needed to pay that in euros.

Every month they moved their money the old way – which wasted their time and money. So they invented a beautifully simple workaround way that became a billion-dollar business.

Each month, they looked up the actual exchange rate on Reuters. Taavet put his euros into Kristo’s Estonian bank account, and Kristo topped up Taavet’s UK bank account using his pounds. Both got the currency they needed almost instantly, and neither paid an extra cent on bad exchange rates or unreasonable charges.

There was no waiting, no stress, and no extra costs. This seamless and cheap way to transfer money was what gave birth to TransferWise. The company has currently opened over 11 offices, and they have over 1,300 employees, across 4 continents.

To become a partner with TransferWise, you only have to apply to their partnership programme and join the campaign with the currency you want to be paid in. They will then review your application. You should also mention TransferWise in existing articles or create new content for the business.

Drive traffic to your articles through SEO, and earn a commission is based on your performance. Earn money for every new referred customer who sends money with TransferWise.

7 Best Money Transfer Franchise Opportunities and Their Cost