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The Best Travel Insurance Companies for All Travelers [2024]

Christine Krzyszton

Senior Finance Contributor

306 Published Articles

Countries Visited: 98 U.S. States Visited: 45

Keri Stooksbury

Editor-in-Chief

29 Published Articles 3093 Edited Articles

Countries Visited: 45 U.S. States Visited: 28

What Does Travel Insurance Cover?

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If you travel frequently, chances are you’ve encountered an event that could have been less stressful and less expensive if you’d purchased travel insurance.

Perhaps it was that cruise you booked but couldn’t take due to your broken ankle. Or maybe your flight had a weather delay and were forced to pay for an expensive hotel night, meals, and transportation.

Maybe you made it to your destination without incident — but your luggage never arrived.

Whether you’re escaping for the weekend or planning an around-the-world adventure, travel insurance is worth considering if you would experience financial loss should things go wrong .

But how do you select the right travel insurance company and the appropriate policy for your specific situation?

The vast number of choices can be daunting, but we can help you narrow the options.

In this article we’ll discuss:

• What travel insurance covers
• Where and when you should purchase travel insurance
• The best travel insurance companies for your travel situation
• Where you should look for current coverage

Let’s explore some of the best travel insurance companies and what to look for when selecting one to purchase your policy with.

Travel insurance is protection you purchase to cover you for the specific types of losses you could experience while traveling.

Types of coverage you can purchase in a travel insurance policy include:

• Emergency medical care while traveling
• Evacuation to a hospital should you become injured
• Costs associated with trip interruption, delay, or cancellation
• Lost/stolen/damaged luggage
• You become ill and cannot take a planned trip
• You need to cancel your trip for any reason

You can purchase a policy that covers an individual trip, multiple trips, or a family policy.  Another choice is an annual policy that covers all of the trips you would take in a 12-month period.

Where & When to Purchase Travel Insurance

You’ll of course want to purchase your travel insurance from a reputable company. Fortunately, all insurance companies are state regulated and rated financially , so it’s easy to select a trusted provider. Here are some tips:

• Look for ratings on the company’s website — Look for ratings such as A+ on a company’s website, or access their financial rating on sites such as A.M. Best, Moody’s, or Standard and Poors.
• See if they’re accredited by the Better Business Bureau — BBB accreditation is a real plus, and companies who have it will flaunt it.
• Look for the word “Insurance” — Travel “protection,” “assurance,” or simply “travel policy” don’t mean the same thing. If the company is not an insurance company, it may not be regulated — and you may not be protected if the company dissolves or decides not to pay your legitimate claim.

Hot Tip: Due to “free look period” regulations that apply to insurance companies, you’ll also have the opportunity to review your policy and reject it if you are not satisfied.

In most cases you can purchase travel insurance up until the day of your departure. However, there are benefits to purchasing a policy earlier:

• Protection if you get sick and cannot go on your prepaid trip
• Travel planning and concierge services
• Coverage for weather cancellations (such as for hurricanes)
• Default of the travel company

The best plan of action is to purchase your travel insurance as soon as you’ve made your first trip deposit .

Bottom Line: Buy from a regulated insurance company that has a high financial rating and BBB accreditation. Additionally, purchase your policy at least 21 days in advance of your trip to take advantage of pre-departure coverages and benefits.

Best Travel Insurance Company for the Family (Recommended)

Obtain a family travel insurance quote from most companies, and you’ll be charged for each child added to the policy.

Travelex does things a bit differently and covers children under the age of 18 on the parent’s policy at no additional charge.

As an example, their Travel Select policy for a family of 4 (ages 35, 36, 8, and 10) on a 2-week trip that costs $4,600 quoted a premium of $242.

Primary Coverage includes:

• Trip cancellation 100% of trip cost
• Trip interruption 150% of trip cost
• Trip delay $750 ($250/day)
• Equipment delay $200
• Missed connection $750
• Baggage & personal effects $1,000
• Baggage delay $200
• Emergency medical & dental expenses $50,000
• Emergency evacuation & repatriation $500,000
• Accidental death & dismemberment $25,000
• Travel assistance & concierge services

There are plenty of upgrade options available, such as cancel-for-any-reason coverage and additional medical coverage.

Travelex is also backed by A++ rated Berkshire Hathaway Specialty Insurance Company and accredited by the Better Business Bureau.

Be sure to compare rates between companies to find the best value for the coverage most important to you.

Bottom Line: For family coverage all on 1 policy, comprehensive protection, and good value, Travelex is a solid choice. 

Best Travel Insurance Company for the Active Traveler

If you’re the type of traveler who partakes in adventure activities such as white water rafting, scuba diving, or even bungee jumping, there’s one company that stands out above the others.

World Nomads offers comprehensive travel insurance plans that cover a huge variety of over 200 activities — even dangerous ones!

But you don’t have to be a risk-taker to benefit from World Nomads travel insurance .

Any traveler can benefit from their policies, which offer a combination of the coverages travelers need most.

Highlights of World Nomads Travel Insurance

• You can purchase the insurance from anywhere, before you travel or during your travels
• Backed by highly rated companies such as  Lloyd’s and Nationwide Mutual Insurance Company
• World travel specialists
• 24/7 worldwide emergency assistance
• Single-trip, multiple-trip, and long-term policies are available
• Best overall coverage for active travelers
• Standard and comprehensive plans to choose from
• Policies are available for travelers through age 69

Let’s take a look at a sampling of their travel insurance policies to get an idea of the coverage and cost.

World Nomads offers Standard Plans and more comprehensive Explorer Plans.

This particular policy is an Explorer Plan for a 40-year-old traveling for 6 months to 5 countries. The premium cost came to $814. (The Standard Plan with lower coverage limits was $567.)

Let’s take a look at a shorter term policy for a 35-year-old traveling to 5 countries over a 1-month period. The cost for this policy is $133 for the Standard  Plan and $236 for the Explorer Plan.

Your World Nomads travel insurance policy covers you once you’re more than 100 miles from home , so their policies are great for domestic travel too.

If you want a comprehensive travel insurance policy with all the coverage you would need when traveling, World Nomads is a good choice.

You must be under age 70 to purchase travel insurance from World Nomads, and they do not cover pre-existing conditions .

For travelers age 70 and up, World Nomads partners with Silver Nomads to provide coverage through  TripAssure .

To secure a quote now for travel insurance, visit the World Nomads website .

Best for Purchasing an Affordable Annual Travel Insurance Plan

If you’re taking 3 or more trips a year, an annual travel insurance policy could save you money.

An annual policy also has the added benefit of insuring trips you haven’t even booked yet!

Consider including travel insurance provider Allianz when comparing policies if you’re looking for coverage for multiple trips during a 12-month period.

Allianz was voted best travel insurance provider by Travel Weekly for 2018 , but that’s just one of the 12+ awards this company won during the year.

After reviewing several companies and policies, I purchased my annual travel insurance policy from Allianz because it was the right mix of price and coverage for my travel schedule.

In addition to the coverage listed in the above example, these annual plans include baggage loss/damage, travel delay , and car rental coverage.

To determine if an annual travel policy is better for you, simply price each planned trip separately and compare the cost and coverage to the annual policy .

Allianz also offers affordable travel insurance plans for families.

Hot Tip: An annual travel insurance policy with Allianz has the added benefit of covering trips you haven’t yet booked! Any trips 45 days or less in length are covered.

Best for Medical Insurance While Traveling

If you have current medical insurance that will not cover you while traveling, the type of medical travel insurance policy you purchase will be different than if you do not have current medical insurance.

Fortunately, medical travel insurance coverage is available in either scenario.

If you have current medical insurance , you can affordably supplement it with a GeoBlue medical travel insurance plan and have coverage worldwide.

For those who don’t have current medical insurance , one option is to purchase a comprehensive plan that includes medical, such as Exact Care Plus policies with Berkshire Hathaway Travel Protection.

This example is for an annual comprehensive travel insurance policy for a 35-year-old (costing $292).

In addition to primary medical insurance of $50,000 and evacuation/repatriation insurance of $500,000, you’ll receive these coverages:

• Trip cancellation – 100% of trip cost
• Trip interruption – 150% of trip cost
• Trip delay – $1000
• Missed connection – $100
• Tarmac delay – $1,000
• Flight departure delay – $50
• Lost baggage – $500
• Delayed baggage – $150

Terms and conditions apply, and the price will vary depending on the cost of the trip, destinations, age of traveler, and coverage selected.

Hot Tip: You may be able to secure an annual comprehensive travel insurance plan that includes primary medical coverage for not much more than just an annual medical travel insurance plan. 

Best for Medical Evacuation Coverage

According to Medjet, over 2 million travelers each year need medical evacuation. Unfortunately, emergency medical evacuations can run between $30,000 and $150,000!

Backed by Lloyd’s of London, A + rated, and BBB accredited, Medjet is the premier provider of emergency evacuation services.

Medjet is not insurance — it is a membership that assures you’ll have medical transport when you need it, even in remote areas.

Short term membership starts at $99, while annual membership is $295.

Coverage includes worldwide medical transport and associated services.

Additional coverage is available for terrorism evacuation, kidnap for ransom, disappearance, wrongful detention, and blackmail/extortion.

Best Travel Insurance Companies for Special Situations

Are you current or former military, a senior traveler, disabled, or simply want to make sure you have insurance when traveling with your pet?

Fortunately, specialty travel insurance is widely available to everyone.

Military members have unique circumstances when it comes to travel insurance, such as redeployment and other situations specific to military service.

USAA members receive extra protection and exclusive rates on travel insurance policies. Current military, their families, and former military can qualify.

Additionally, children are included on most plans for no extra charge .

Here’s what these plans generally include:

• Lost or delayed baggage
• Trip cancellation or interruption
• Trip interruption/cancellation even due to illness
• Medical coverage
• Weather interruptions to your trip
• Emergency evacuation and assistance

Need a good credit card? Check out our list of the best credit cards for military .

• World Nomad  partner  TripAssure  offers travel insurance for those 70 years old and above.
• GeoBlue issues medical insurance travel plans up to age 84.
• Allianz and Berkshire Hathaway offer policies up to 99 years of age!
• Allianz Global Assistance (recommended by Wheelchair Travel.org) offers policies for those with disabilities or special needs at standard prices.
• Travelex’s Travel Max Policy  – $1000 for emergency pet medical treatment. If you are unable to take care of your pet due to hospitalization while traveling, there is coverage of up to $10,000 to transport your pet back home.

If you want to compare travel insurance companies and individual policies, a comparison tool can do just that.

Here are 4 of the most popular comparison sites, all of which offer dozens of policies from scores of travel insurance companies:

• Squaremouth
• InsureMyTrip
• Travel Insurance.com

Comparison sites do not list every travel insurance company , but they can help narrow your choices and get an idea of pricing and coverage.

Note that some sites are limited to single-trip policy searches and don’t allow you to search for annual travel insurance policies.

Coordinating Travel Insurance With Current Coverage

You may currently have some form of travel insurance and not realize it, so check for current coverage if you have any of these resources.

Credit cards can provide a multitude of travel benefits. One of the best credit cards for travel benefits include the Chase Sapphire Preferred :

• Domestic and worldwide car rental insurance
• Trip delay , cancellation , and interruption protection
• Lost/delayed baggage protection
• Roadside assistance
• Travel and emergency assistance
• Travel accident insurance
• Cell phone protection

It’s worth noting that to receive credit card travel benefits, you must pay for your trip with your qualifying credit card .

Some credit cards grant coverage when paying partially, but some require the entire purchase be paid with the card (or rewards points from the card).

Hot Tip: To find out which credit cards offer protection , we put together a comprehensive overview of credit cards and the associated travel benefits.

While many health insurance plans limit coverage outside of the United States, you may find travel coverage within your plan that can be quite significant.

For example,  Unum  is one of the most common group insurance companies offering employers travel insurance for their employees through  Assist America .

You may find these types of protection included:

• Emergency medical evacuation
• Prescription replacement assistance
• Transportation for a friend or family member to join a hospitalized patient
• Care and transport of unattended minor children
• Hospital and English-speaking medical provider referrals
• Legal and interpreter referrals
• Passport replacement assistance

Bottom Line: It’s important to know if your current health insurance plan will cover you when traveling. You may find unexpected coverage or some gaps in coverage, and be able to supplement your plan with a travel insurance policy prior to your trip. 

Certain club memberships offer benefits that can include various levels of travel insurance coverage:

• Divers Alert Network — Emergency evacuation insurance, even when traveling for non-diving activities
• Family Motor Coach Association — Discounted worldwide travel assistance
• Gold Wing Road Riders Association — Free emergency towing and roadside assistance for motorcycles
• American Motorcycle Association — Emergency towing and roadside assistance coverage for motorcycles, cars, trucks, trailers, and RVs
• American Alpine Club — Search and rescue for any land-based activity worldwide up to $7,500

Hot Tip: Divers Alert Network provides up to $100,000 in emergency evacuation insurance for members, even during non-diving activities. The cost to be a member is only $35 annually. 

Only in rare circumstances does Medicare extend coverage outside of the U.S.

Supplemental plans you purchase over and above your plan A and B Medicare, however, can pay 80% of medical emergency care outside the U.S. after a $250 deductible.

Coverage is valid for the first 60 days you’re traveling and has a $50,000 lifetime cap.

BOTTOM LINE: Benefits offered with credit cards, club memberships, employer-sponsored health plans, and Medicare do not match the protection you’ll receive with a comprehensive travel insurance policy. However, knowing what you have currently can help you avoid paying for duplicate coverage. 

Insurance serves the purpose of protecting us from great financial loss. For this reason, it is wise to purchase travel insurance for any trip that includes the potential to lose money if things go wrong.

Travel insurance also delivers peace of mind. Even if we never use the insurance, it is one less worry knowing we’ll be compensated if an incident occurs.

Fortunately, travel insurance is broadly available and also affordable. And there are so many choices!

Be sure to purchase your travel insurance policy from an actual regulated insurance company for an extra level of protection.

Our selections in this article were limited to strong financially rated companies, those that provided ease in getting a quote, and those that offered an understandable overview of coverages.

To learn more about travel insurance and assistance in finding a policy that fits your travel needs, access our ultimate guide to buying the best travel insurance .

All information and content provided by Upgraded Points is intended as general information and for educational purposes only, and should not be interpreted as medical advice or legal advice. For more information, see our  Medical & Legal Disclaimers .

Frequently Asked Questions

Which is the best travel insurance company.

The best travel insurance company is the one that offers a policy that fits a combination of your budget and your travel needs.

The insurance company should be highly rated financially and ideally be certified with the Better Business Bureau.

You should also make sure that the policy you purchase is from an actual insurance company.

Insurance companies are state regulated and must adhere to rules and regulations. This extra level of protection can help if the company should go out of business or not pay your legitimate claim.

As always, it’s good to compare coverage and price to find the best combination for your situation.

Does travel insurance cover medical expenses?

Yes, you can purchase a travel insurance policy that includes medical insurance, or you can purchase one that has only medical insurance coverage.

There are plans that require you to have current medical insurance. These plans are called secondary plans, and they pay incurred medical costs over and above what your current policy pays.

There are also plans that are primary plans, which pay regardless of whether you have other medical insurance. If you do not have current medical insurance, you will want a primary medical travel insurance policy.

Do credit cards have travel insurance?

Credit cards offer limited travel insurance. You won’t find medical coverage, emergency evacuation insurance, or coverage if you need to cancel your trip due to an illness.

Credit cards can offer a trip interruption benefit, coverage for lost baggage, and even rental car coverage.

However, the coverage that comes complimentary on your credit card does not come close to the protection you receive with a comprehensive travel insurance policy.

It is good to know the current coverage offered on your credit card, however, so that you don’t purchase duplicate coverage.

Is there travel insurance that covers multiple trips?

Yes, you can purchase a travel insurance policy that covers a single trip, multiple trips, or an annual insurance policy that covers all the trips you would take in a 12-month period.

If you plan to take more than 2 or 3 trips a year, you should look into an annual travel insurance policy.

Price out what it would cost for separate policies for the trips you have planned, then price out an annual plan to compare the difference in cost.

You will also want to compare coverage and coverage limits.

One advantage to an annual travel insurance policy is that it will cover trips you may book in the future as long as they fall into the 12-month policy term.

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About Christine Krzyszton

Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.

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9 Best Travel Insurance Companies of April 2024

According to our analysis of more than 50 travel insurance companies and hundreds of different travel insurance plans, the best travel insurance company is Travelex Insurance Services. In our best travel insurance ratings, we take into account traveler reviews, credit ratings and industry awards. The best travel insurance companies offer robust coverage and excellent customer service, and many offer customizable add-ons.

Travelex Insurance Services »

Allianz Travel Insurance »

HTH Travel Insurance »

Tin Leg »

AIG Travel Guard »

Nationwide Insurance »

Seven Corners »

Generali Global Assistance »

Berkshire hathaway travel protection ».

Why Trust Us

U.S. News evaluates ratings, data and scores of more than 50 travel insurance companies from comparison websites like TravelInsurance.com, Squaremouth and InsureMyTrip, plus renowned credit rating agency AM Best, in addition to reviews and recommendations from top travel industry sources and consumers to determine the Best Travel Insurance Companies.

Table of Contents

• Travelex Insurance Services
• Allianz Travel Insurance

Travel insurance can help you protect the financial investment you made in your vacation when unexpected issues arise. Find the best travel insurance for the type of trip(s) you're taking and the coverages that matter most to you – from interruptions and misplaced belongings to illness and injury.

• Travelex Insurance Services: Best Overall
• Allianz Travel Insurance: Best for Trip Interruptions
• HTH Travel Insurance: Best for Groups
• Tin Leg: Best Cost
• AIG Travel Guard: Best for Families
• Nationwide Insurance: Best for Last-Minute Travel Insurance
• Seven Corners: Best for 24/7 Support When Traveling
• Generali Global Assistance: Best for Medical Emergencies
• Berkshire Hathaway Travel Protection: Best for Specialized Coverage

Customizable upgrades are available, including car rental coverage, additional medical insurance and adventure sports coverage

Medical and trip cancellation maximum are not as high as some other companies

• 100% of the insured trip cost for trip cancellation; 150% for trip interruption
• Up to $1,000 in coverage for lost, damaged or stolen bags and personal items; $200 for luggage delays
• $750 in missed connection coverage
• $50,000 in emergency medical and dental coverage
• Up to $500,000 in emergency medical evacuation and repatriation coverage

SEE FULL REVIEW »

Annual and multitrip policies are available

Distinguishing between the company's 10 travel insurance plans can be challenging

• Up to $200,000 in trip cancellation coverage; $300,000 in trip interruption coverage
• $2,000 for lost, damaged or stolen luggage and personal effects; $600 for bag delays
• Up to $1,600 for travel delays
• Emergency medical coverage of up to $75,000
• Epidemic coverage

Generous coverage at the mid- and high-tier levels, and great group discounts

Preexisting conditions coverage is only available at mid- and high-tier plans

• 100% trip cancellation coverage (up to $50,000); 200% trip interruption coverage
• Up to $2,000 in coverage for baggage and personal effects; $400 in baggage delay coverage
• Up to $2,000 in coverage for trip delays; $1,000 for missed connections
• $500,000 in coverage per person for sickness and accidents

Variety of plans to choose from, including two budget-friendly policies and several more premium options

More limited coverage for baggage issues than other companies

• 100% trip cancellation protection; 150% trip interruption
• $500 per person for lost, stolen or damaged baggage and personal items
• Up to $2,000 per person in travel delay coverage ($150 per day); $100 per person for missed connections
• $100,000 per person in emergency medical coverage, including issues related to COVID-19

Travel insurance policy coverage is tailored to your specific trip

Information about policy coverage inclusions is not readily available without first obtaining a quote

• Trip cancellation coverage for up to 100% of your trip's cost; trip interruption coverage for up to 150% of the trip cost
• Up to $2,500 in coverage for lost, stolen or damaged baggage; $500 related to luggage delays
• Up to $1,000 in missed connection and trip delay coverage
• $100,000 in emergency medical coverage

Variety of plans to choose from and coverage available up to a day before you leave on your trip

Limited trip cancellation coverage even at the highest tier

• Trip cancellation coverage up to $30,000; trip interruption coverage worth up to 200% of the trip cost (maximum of $60,000)
• $2,000 for lost, damaged or stolen baggage; $600 for baggage delays
• Up to $2,000 for trip delays; missed connection and itinerary change coverage of $500 each
• $150,000 for emergency medical and dental issues

Customer service available 24/7 via text, Whatsapp, email and phone

Cancel for any reason coverage costs extra

• 100% trip cancellation coverage (up to between $30,000 and $100,000 depending on your state of residence); interruption coverage for up to 150% of the trip cost 
• Lost, stolen or damaged baggage coverage up to $2,500; up to $600 for luggage delays
• Trip delay and missed connection coverage worth up to $1,500
• Emergency medical coverage worth up to between $250,000 and $500,000 (depending on where you live)

Generous emergency medical and emergency evacuation coverage

Coverage for those with preexisting conditions is only available on the Premium plan

• 100% reimbursement for trip cancellation; 175% reimbursement for trip interruption
• $2,000 in coverage for loss of baggage per person
• $1,000 per person in travel delay and missed connection coverage
• $250,000 in medical and dental coverage per person

In addition to single-trip plans, company offers specific road trip, adventure travel, flight and cruise insurance coverage

Coverage for missed connections or accidental death and dismemberment is not part of the most basic plan

• Trip cancellation coverage worth up to 100% of the trip cost; interruption coverage worth up to 150% of the trip cost
• $500 in coverage for lost, stolen or damaged bags and personal items; bag delay coverage worth $200
• Trip delay coverage worth up to $1,000; missed connection coverage worth up to $100
• Medical coverage worth up to $50,000

To help you better understand the costs associated with travel insurance, we requested quotes for a weeklong June 2024 trip to Spain for a solo traveler, a couple and a family. These rates should help you get a rough estimate for about how much you can expect to spend on travel insurance. For additional details on specific coverage from each travel insurance plan and to input your trip information for a quote, see our comparison table below.

Travel Insurance Types: Which One Is Right for You?

There are several types of travel insurance you'll want to evaluate before choosing the policy that's right for you. A few of the most popular types of travel insurance include:

COVID travel insurance Select insurance plans offer some or a combination of the following COVID-19-related protections: coverage for rapid or PCR testing; accommodations if you're required to quarantine during your trip if you test positive for coronavirus; health care; and trip cancellations due to you or a family member testing positive for COVID-19. Read more about the best COVID-19 travel insurance options .

Cancel for any reason insurance Cancel for any reason travel insurance works exactly how it sounds. This type of travel insurance lets you cancel your trip for any reason you want – even if your reason is that you simply decide you no longer want to go. Cancel for any reason travel insurance is typically an add-on you can purchase to go along with other types of travel insurance. For that reason, you will pay more to have this kind of coverage added to your policy.

Also note that this type of coverage typically only reimburses 50% to 80% of your nonrefundable prepaid travel expenses. You'll want to make sure you know exactly how much reimbursement you could qualify for before you invest in this type of policy. Compare the best cancel for any reason travel insurance options here .

International travel insurance Travel insurance is especially useful when traveling internationally, as it can provide medical coverage for emergencies (in some cases for COVID-19) when you're far from home. Depending which international travel insurance plan you choose, this type of travel insurance can also cover lost or delayed luggage, rental cars, travel interruptions or cancellations, and more.

Cheap travel insurance If you want travel insurance but don't want to spend a lot of money, there are plenty of cheap travel insurance options that will offer at least some protections (and peace of mind). These are typically called a company's basic or standard plan; many travel insurance companies even allow you to customize your coverage, spending as little or as much as you want. Explore your options for the cheapest travel insurance here .

Trip cancellation, interruption and delay insurance Trip cancellation coverage can help you get reimbursement for prepaid travel expenses, such as your airfare and cruise fare, if your trip is ultimately canceled for a covered reason. Trip interruption insurance, on the other hand, kicks in to reimburse you if your trip is derailed after it starts. For instance, if you arrived at your destination and became gravely ill, it would cover the cost if you had to cut your trip short.

Trip delay insurance can help you qualify for reimbursement of any unexpected expenses you incur (think: lodging, transportation and food) in the event your trip is delayed for reasons beyond your control, such as your flight being canceled and rebooked for the next day. You will want to save your receipts to substantiate your claim if you have this coverage.

Lost, damaged, delayed or stolen bags or personal belongings Coverage for lost or stolen bags can come in handy if your checked luggage is lost by your airline or your luggage is delayed so long that you have to buy clothing and toiletries for your trip. This type of coverage can kick in to cover the cost to replace lost or stolen items you brought on your trip. It can also provide coverage for the baggage itself. It's even possible that your travel insurance policy will pay for your flight home if damages are caused to your residence and your belongings while you're away, forcing you to return home immediately.

Travel medical insurance If you find yourself sick or injured while you are on vacation, emergency medical coverage can pay for your medical expenses. With that in mind, however, you will need to find out whether the travel medical insurance you buy is primary or secondary. Where a primary policy can be used right away to cover medical bills incurred while you travel, secondary coverage only provides reimbursement after you have exhausted other medical policies you have.

You will also need to know how the travel medical coverage you purchase deals with any preexisting conditions you have, including whether you will have any coverage for preexisting conditions at all. Read more about the best travel medical insurance plans .

Evacuation insurance Imagine you break your leg while on the side of a mountain in some far-flung land without quality health care. Not only would you need travel medical insurance coverage in that case, but you would also need coverage for the exorbitant expense involved in getting you off the side of a mountain and flying you home where you can receive appropriate medical care.

Evacuation coverage can come in handy if you need it, but you will want to make sure any coverage you buy comes with incredibly high limits. According to Squaremouth, an emergency evacuation can easily cost $25,000 in North America and up to $50,000 in Europe, so the site typically suggests customers buy policies with $50,000 to $100,000 in emergency evacuation coverage.

Cruise insurance Travel delays; missed connections, tours or excursions; and cruise ship disablement (when a ship encounters a mechanical issue and is unable to continue on in the journey) are just a few examples why cruise insurance can be a useful protection if you've booked a cruise vacation. Learn more about the top cruise insurance plans here .

Credit card travel insurance It is not uncommon to find credit cards that include trip cancellation and interruption coverage , trip delay insurance, lost or delayed baggage coverage, travel accident insurance, and more. Cards that offer this coverage include popular options like the Chase Sapphire Reserve credit card , the Chase Sapphire Preferred credit card and The Platinum Card from American Express . 

Note that owning a credit card with travel insurance protection is not enough for your coverage to count: To take advantage of credit card travel insurance, you must pay for prepaid travel expenses like your airfare, hotel stay or cruise with that specific credit card. Also, note that credit cards with travel insurance have their own list of exclusions to watch out for. Many also require cardholders to pay an annual fee.

Frequently Asked Questions

The best time to buy travel insurance is normally within a few weeks of booking your trip since you may qualify for lower pricing if you book early. Keep in mind, some travel insurance providers allow you to purchase plans until the day before you depart.

Many times, you are given the option to purchase travel insurance when you book your airfare, accommodations or vacation package. Travel insurance and travel protection are frequently offered as add-ons for your trip, meaning you can pay for your vacation and some level of travel insurance at the same time.

However, many people choose to wait to buy travel insurance until after their entire vacation is booked and paid for. This helps travelers tally up all the underlying costs associated with a trip, and then choose their travel insurance provider and the level of coverage they want.

Figuring out where to buy travel insurance may be confusing but you can easily research and purchase travel insurance online these days. Some consumers prefer to shop around with a specific provider, such as Allianz or Travelex, but you can also shop and compare policies with a travel insurance platform. Popular options include:

• TravelInsurance.com: TravelInsurance.com offers travel insurance options from more than a dozen vetted insurance providers. Users can read reviews on the various travel insurance providers to find out more about previous travelers' experiences with them. Squaremouth: With Squaremouth, you can enter your trip details and compare more than 90 travel insurance plans from 20-plus providers.
• InsureMyTrip: InsureMyTrip works similarly, letting you shop around and compare plans from more than 20 travel insurance providers in one place. InsureMyTrip also offers several guarantees, including a Best Price Guarantee, a Best Plan Guarantee and a Money-Back Guarantee that promises a full refund if you decide you no longer need the plan you purchased.

Protect your trip: Search, compare and buy the best travel insurance plans for the lowest price. Get a quote .

When you need to file a travel insurance claim, you should plan on explaining to your provider what happened to your trip and why you think your policy applies. If you planned to go on a Caribbean cruise, but your husband fell gravely ill the night before you were set to depart, you would need to explain that situation to your travel insurance company. Information you should share with your provider includes the details of why you're making a claim, who was involved and the exact circumstances of your loss.

Documentation is important, and your travel insurance provider will ask for proof of what happened. Required documentation for travel insurance typically includes any proof of a delay, receipts, copies of medical bills and more.

Most travel insurance companies let you file a claim using an online form, but some also allow you to file a claim by phone or via fax. Some travel insurance providers, such as Allianz and Travel Insured International, offer their own mobile apps you can use to buy policies and upload information or documents that substantiate your claim. In any case, you will need to provide the company with proof of your claim and the circumstances that caused it.

If your claim is initially denied, you may also need to answer some questions or submit some additional information that can highlight why you do, in fact, qualify.

Whatever you do, be honest and forthcoming with all the information in your claim. Also, be willing to provide more information or answer any questions when asked.

Travel insurance claims typically take four to six weeks to process once you file with your insurance company. However, with various flight delays and cancellations due to things like extreme weather and pilot shortages, more travelers have begun purchasing travel insurance, encountering trip issues and having to submit claims. The higher volume of claims submitted has resulted in slower turnaround times at some insurance companies.

The longer you take to file your travel insurance claim after a loss, the longer you will be waiting for reimbursement. Also note that, with many travel insurance providers, there is a time limit on how long you can submit claims after a trip. For example, with Allianz Travel Insurance and Travelex Insurance Services, you have 90 days from the date of your loss to file a claim.

You may be able to expedite the claim if you provide all the required information upfront, whereas the process could drag on longer than it needs to if you delay filing a claim or the company has to follow up with you to get more information.

Travel insurance is never required, and only you can decide whether or not it's right for you. Check out Is Travel Insurance Worth It? to see some common situations where it does (and doesn't) make sense.

Why Trust U.S. News Travel

Holly Johnson is an award-winning content creator who has been writing about travel insurance and travel for more than a decade. She has researched travel insurance options for her own vacations and family trips to more than 50 countries around the world, and has experience navigating the claims and reimbursement process. In fact, she has successfully filed several travel insurance claims for trip delays and trip cancellations over the years. Johnson also works alongside her husband, Greg, who has been licensed to sell travel insurance in 50 states, in their family media business.

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Compare the Best Bank Accounts for International Travel

Best bank accounts for international travel reviews, introduction to banking for international travel.

• Key Features
• Additional Services and Tips
• Why You Should Trust Us

Best Banks for International Travelers for April 2024

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.

If you're an avid traveler at heart, then your bank account should reflect that. 

We looked for the best savings accounts that may help you save for travel and checking accounts that allow you to access your money with ease when you're on the road and overseas.

Top Bank Account for International Travel Benefits

Ally Savings Account

Bask Bank Mileage Savings Account

Capital One 360 Checking

Schwab Bank High Yield Investor Checking® Account

SoFi Checking and Savings

Revolut Account

Below, you'll see our top picks for international travel. All of the financial institutions on our list are protected by FDIC or NCUA insurance. Money is safe at a federally insured financial institution. When an institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Compare Today's Savings Rates

Earn 4.25% Annual Percentage Yield with a $0 minimum account opening requirement

no monthly service fee

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High APY
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Savings buckets help you save for different goals
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Surprise savings transfers help you save extra money from your checking account
• con icon Two crossed lines that form an 'X'. No physical branch locations
• con icon Two crossed lines that form an 'X'. No way to deposit cash

The Ally High Yield Savings Account is a great option for anyone who wants savings tools to help save for specific financial goals, or prioritizes an account that doesn't charge standard bank fees.

• Create separate savings buckets in a savings account
• Link to your Ally checking account and enroll in surprise savings transfers to have extra money transferred to savings three times per week
• Interest compounded daily, paid monthly
• FDIC insured

Earn up to 10,000 bonus AAdvantage® miles for new Bask Mileage Savings Account customers who open and fund their account within 15 business days from account opening and maintain a minimum daily balance of $50,000 for 90 consecutive days out of the first 120 days (open account by May 31, 2024)

up to 10,000 bonus AAdvantage® miles

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn American Airlines AAdvantages miles
• con icon Two crossed lines that form an 'X'. May not be easy to deposit cash

The Bask Bank Interest Savings Account and Bask Bank CD are excellent options if you'd like to earn a high interest rate. The Bask Bank Mileage Savings Account may be a great choice if you frequently use American Airlines for travel. Bask Bank doesn't offer a checking account, though.

• Earn up to 10,000 Bonus AAdvantage® miles. To qualify for this offer, you must be a first time Bask Mileage Savings Account customer, open a Bask Mileage Savings Account between March 1, 2024 and May 31, 2024, fund your Bask Mileage Savings Account within 15 business days following the initial account opening and maintain a minimum daily account balance of $50,000 for 90 consecutive days out of the first 120 days following the initial account opening.
• Earn 2.5 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account
• Must provide your AAdvantage account number to receive AAdvantages miles
• AAdvantage miles earned through the Bask Mileage Savings Account can't be used toward boosting your American Airlines elite status
• Miles awarded monthly
• Deposits FDIC insured through Texas Capital Bank

No minimums, no fees, no worries.

See website for details

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn interest on all account balances
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit or minimum account balance
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fee
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No foreign transaction fee
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Range of overdraft protection options
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Processes direct deposits up to 2 days early
• con icon Two crossed lines that form an 'X'. Doesn't reimburse out-of-network ATM fees
• con icon Two crossed lines that form an 'X'. Limited access to customer service by phone

Capital One is a strong bank overall. You'll earn competitive interest rates on online savings accounts and CDs.

• Over 70,000 free ATMs nationwide
• Branches in NY, LA, TX, MD, VA, NJ, and Washington, DC

Earn 0.45% Annual Percentage Yield (APY). $0 minimum deposit. FDIC Insured.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum account balance
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Unlimited out-of-network ATM reimbursements
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No foreign transaction fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection

Charles Schwab Bank is one of the best banks for international travelers, because it doesn't charge foreign transaction fees. It also refunds all fees charged by ATMs worldwide. But if you want to earn high interest rates, you're better off looking elsewhere.

• 24/7 live online chat
• When you open a checking account, you automatically open a Charles Schwab brokerage account, too
• No ATM network, but unlimited ATM fee reimbursements

Earn up to a $300 bonus with qualifying direct deposits for eligible customers through 6/30/24. Earn up to 4.60% APY on savings balances (including Vaults) with direct deposit

up to 4.60%

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. FDIC insured for $2 million
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rate
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Earn a higher interest rate with qualifying activities
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No overdraft fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Up to $300 bonus with qualifying direct deposit (terms apply)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No-fee overdraft coverage if you overdraw up to $50
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Savings tools
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Early direct deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Joint account available
• con icon Two crossed lines that form an 'X'. Declined purchase if you overdraw by more than $50
• con icon Two crossed lines that form an 'X'. Doesn't reimburse out-of-network ATM providers' fees
• con icon Two crossed lines that form an 'X'. May deposit cash at Green Dot locations but there's a $4.95 fee

SoFi Checking and Savings is a great account option if you don't mind keeping your savings and checking in one account.

• FDIC insured for $2 million
• Free access to 50,000+ Allpoint ATMs worldwide
• Hybrid checking/savings account
• Earn 4.60% APY on savings balances (Vaults included) and 0.50% APY on checking balances if you set up direct deposit or deposit minimum $5,000 per month
• Earn 1.20% APY on SoFi Checking and Savings if you don't have qualifying activities
• Earn up to $300 cash bonus available through June 30, 2024; receive a $50 bonus if you make a direct deposit between $1,000 and $4,999 in the first 30 days of opening an account; receive a $300 bonus if you make a direct deposit of $5,000 or more in the first 30 days of opening an account
• Create up to 20 Money Vaults to save for individual savings goals like an emergency fund or vacation
• $4.95 fee each time you deposit cash at a Green Dot location
• To get no-fee overdraft coverage you must have at least $1,000 in direct deposits

no monthly service fees on Standard plan

Standard plan: up to 3.25% APY, Premium plan: up to 4.25% APY, Metal plan: up to 4.25% APY

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees on Standard plan
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Prepaid debit card included (specific card depends on monthly plan)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Spend abroad in over 140 currencies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Budgeting features
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Withdraw up to $1,200 from out-of-network ATMs on Metal plan with no fair usage fees
• con icon Two crossed lines that form an 'X'. Can't overdraw from account
• con icon Two crossed lines that form an 'X'. 2% fee of ATM withdrawal on out-of-network ATM fees if you exceed the limit
• con icon Two crossed lines that form an 'X'. $0.30 to $6 international money transfer fee if you exceed limit
• Access to 55,000 free ATMs through the Allpoint ATM network
• Withdraw up to $1,200 from out-of-network ATMs on Metal plan
• Spend in more than 140 currencies
• Additional international wire transfer fees will depend on the transfer amount and whether there's a currency exchange
• Banking services are provided by Metropolitan Commercial Bank, Member FDIC

Compare Today's Banking Offers

Best Bank Accounts for International Travel FAQs

Charles Schwab is our top pick for international ATM access. It offers unlimited refunds for ATM fees worldwide.

To minimize fees when using a bank card abroad, you want to limit making ATM withdrawals unless you find an ATM that's in your network. Some debit cards also have foreign transaction fees, so it's best to use cash or one of the best credit cards with no foreign transaction fees .

Yes. Many banks and credit unions pay good rates to exchange foreign currency. Most financial institutions will require you to have a bank account with them in order to exchange currency , though.

Yes. Some banks offer travel insurance if you get a credit card with features like travel accident insurance and trip delay reimbursements.

Yes. You should call your bank before traveling so you're well prepared. If you forget to contact your bank, your debit card may be denied when you make purchases to protect you from potential fraudulent activity.

Yes. You may open a bank account in another country. However, make sure that you report your bank account information to the IRS annually .

Best Savings Accounts for International Travel

The Ally High Yield Savings Account provides easy tools to set savings goals for your next trip, and you'll earn interest without having to take on any risk. 

You can also set up a checking account through Ally . When you need access to your savings, just transfer money from the savings account to the checking account through the online portal, and you'll be able to spend the money almost instantly.

Ally also offers an easy-to-use mobile app and 24/7 customer support, making it simple to access your account while you're on the road.

You won't be able to deposit cash directly into your bank account. Instead, you'll have to transfer money from another bank account. 

Ally Savings Account Review

You might find the Bask Bank Mileage Savings Account appealing if you are a frequent American Airlines flyer. This savings account lets you earn earn 2.5 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account. You can redeem miles for booking flights or hotels, upgrading flights, renting transportation, or planning vacation activities.

Bask Bank is also offering a savings account bonus for new customers: earn up to 10,000 bonus AAdvantage® miles for new Bask Mileage Savings Account customers who open and fund their account within 15 business days from account opening and maintain a minimum daily balance of $50,000 for 90 consecutive days out of the first 120 days (open account by May 31, 2024)

AAdvantage miles earned through the Bask Bank Mileage Savings Account will not go toward boosting your AAdvantage status.

Bask Bank also doesn't have a checking account, ATM cards, or debit cards, so you'll have limited access to your account. You'll need to link an external bank account and initiate a bank transfer to deposit or withdraw money.

Bask Bank Review

Best Checking Accounts for International Travel

Capital One 360 Checking might be a solid choice if you're most comfortable with a well-known retail bank and want no-fee cash withdrawals at home and in select countries abroad. 

You can withdraw up to $1,000 a day at any ATM worldwide using your MasterCard and Capital One won't charge a fee, though the ATM operator may. The bank ranks No. 1 on J.D. Power's US National Banking Satisfaction Study , and it made Business Insider's list of the best checking accounts.

Capital One also offers a solid high-yield savings account, which is a good choice if you want to keep your savings at the same bank as your checking. 

If you travel to Europe, Asia, or any other place where Capital One and AllPoint don't have ATMs, you may have to pay third-party ATM operator fees to take cash out (Capital One will never charge you an additional fee). 

As for branch access, the bank only operates about 280 branches in seven US states, though Capital One Cafés are in some big cities around the US.

Capital One 360 Review

Charles Schwab is an investment platform, but it also has banking products. The Schwab Bank High Yield Investor Checking® Account is a great choice if you'd like a fee-free international spending bank account. It notably offers unlimited refunds for ATM fees worldwide, and it doesn't charge foreign transaction fees. 

You must open a brokerage account with Charles Schwab before opening a checking account, though.

Charles Schwab Bank Review

Best All-in-One Accounts for International Travel

SoFi Checking and Savings offers the best of both worlds. It's a hybrid savings/checking account with a competitive interest rate and a MasterCard debit card for easy access to your cash. 

SoFi is part of the Allpoint ATM network, so you have free access to 50,000 ATMs worldwide, and SoFi doesn't charge a foreign transaction fee when you make a purchase with your debit card abroad.

Again, SoFi is completely online — you'll need to call customer service when you want help with your account rather than walking into a physical location.

While SoFi doesn't charge any foreign transaction fees when you withdraw cash at an international bank or ATM, MasterCard will charge 0.20%, and SoFi won't reimburse you.

SoFi Checking and Savings Review

You might like the Revolut Account if you're looking for an alternative to traditional banking.

Revolut is a British fintech company with an international finance and investing app. You can open accounts from anywhere in the US. 

The Revolut Account is a prepaid debit card linked to a bank account. You can easily spend money internationally in over 150 types of currency. The account also allows you to make one fee-free international or domestic wire transfer per month with the Standard plan, three with the Premium plan, and five with the Metal plan.

The account also has budgeting features that let you round up prepaid debit card purchases or set up individual savings goals through Vaults. The Revolut Account and Savings Vault are  FDIC-insured by Metropolitan Commercial Bank and Sutton Bank. 

Revolut has three plans: Standard (Free), Premium ($9.99 per month), or Metal ($16.99 per month). Access to certain app features will depend on your monthly plan.

Revolut Review

Bank Account Alternatives for Travelers

• Chase Total Checking® : This account appeared on our best checking accounts list, but it charges $3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply. $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply.
• Discover® Cashback Debit Account : Discover's checking account has no monthly service fees and allows you to earn 1% cash back on up to $3,000 in debit card purchases every month (see website for details), but its use is limited to the US, Canada, Mexico, and the Caribbean.
• Citi Regular Checking : A fine checking account with options to waive the $15 monthly service fee and branch locations abroad, but customer satisfaction is below average, according to J.D. Power's US National Banking Satisfaction Study .
• HSBC Premier Checking : HSBC (Member FDIC) offers a good variety of checking accounts, although only those with high minimum balance or deposit requirements get ATM fees reimbursed.
• Wealthfront Cash Account : Although this account operates similarly to a high-yield savings account, it's technically a cash management account. You might like this option if you already invest with Wealthfront and want to earn a high interest rate on your savings. However, keep in mind Wealthfront doesn't offer other types of accounts like CDs or checking accounts.
• Betterment Checking Account : Betterment reimburses all foreign transaction fees and ATM fees worldwide, and the app is easy to use. However, our top picks for checking accounts may also offer more banking options, such as CDs or brokered CDs.
• Marcus High Yield Online Savings Account : Marcus has a good high-yield savings account; Marcus savings rates current pays 4.40% APY. However, the high-yield savings account doesn't have as many goal-setting features as Ally, if that's important to you. 
• American Express® High Yield Savings Account (Member FDIC): With a solid savings rate, this high-yield savings account is a good option if you don't mind not having mobile access.

When you're traveling abroad, bear in mind many financial institutions have fees for using a debit card internationally.

For example, if you use an ATM provider to withdraw money that isn't in your network, you may have to pay out-of-network ATM fees from the provider and your financial institution. 

Many banks also have foreign transaction fees. A foreign transaction fee is a debit or credit card charge that can happen when you buy something internationally and it needs to be processed through a foreign financial institution. 

There are many financial institutions that can help you avoid common international bank fees, though. 

Key Features of Ideal Banks for International Travel

The right bank can make saving for travel goals easier. It can also help you avoid common bank fees, like out-of-network ATM and foreign transaction fees. Below, we've highlighted key features among the top banks for multi-country travel.

Competitive Savings Rates

One key feature to look for in a bank is a competitive savings rate. High-yield savings accounts, in particular, can be strong banking options because they offer better rates than traditional savings accounts. These bank accounts might also be a good choice if you want to set savings goals for specific travel trips. Money in a high-yield savings account can deposited at any time, so you can contribute to a travel goal in stages. If you open a high-yield savings account at an online bank, you also usually won't have to worry about dealing with monthly service fees.

Exchange Rates

If you want to have cash on hand during a trip, it may be beneficial to bank with a financial institution or platform that offers straightforward foreign exchange services. Banking institutions usually offer better exchange rates than airport exchange services or on-site travel spots.

Low Foreign Transaction Fees

If you plan on using a debit card or credit card frequently, make sure to look for a bank that has low foreign transaction fees. That way, you won't have to worry about fees piling up when you use your card to buy things abroad. 

Some financial institutions on our list, like SoFi, do not charge foreign transaction fees.

Wide Global ATM Network Accessibility

If you want to use an ATM abroad, the best option is to find a national bank with a global ATM network or one that provides reimbursements for out-of-network ATM fees. Charles Schwab, for example, offers unlimited worldwide ATM fee reimbursements.

Additional Services and Tips for International Banking

If you're planning on traveling abroad soon, it's best to be prepared beforehand so you can avoid unnecessary stress. Sometimes, credit or debit cards may not work if you don't give your bank notice that you're traveling. This is done as a measure to protect you against fraudulent activity. To avoid having your card declined internationally, make sure to call your financial institution before traveling so you can make sure it works during the time you're abroad.

It's also helpful to have cash on hand when traveling in case you need it for an emergency situation. Experts recommend getting foreign currency before you begin travel because airports and on-site currency exchange locations tend to involve more costly service fees and unsatisfactory exchange rates.

Bank Trustworthiness and BBB Ratings

The Better Business Bureau assesses companies based on responses to customer complaints, honesty in advertising, and transparency about business practices. Here are the BBB grades for our favorite travel accounts:

Revolut has an F rating from the BBB due to a high volume of customer complaints filed against the business, and Revolut hasn't responded to or resolved some of the complaints.

Bask Bank received a B grade from the BBB because of its volume of customer complaints. However, its parent company, Texas Capital Bank, has an A+ rating  from the BBB. 

A great BBB score doesn't guarantee your relationship with a company will be perfect. You'll also want to speak with current customers or read online customer reviews.

Capital One is the only bank on our list that has been involved in a recent public controversy. Capital One used to have an account called 360 Savings. In 2019, the bank launched the new 360 Performance Savings Account, which paid a much a higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to manually open a new 360 Performance Savings Account to earn the higher rate. So some customers have been earning a significantly lower savings rate for years.

In the lawsuit, the plaintiffs' lawyers allege that Capital One didn't inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However,  Capital One wants this case dismissed  because it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

Why You Should Trust Us: Our Expert Panel for the Best Banks for International Travel

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best accounts for your needs.

Here's what they had to say about banking for travel. (Some text may be lightly edited for clarity.)

How can someone determine whether a bank is the right fit for them?

Tania Brown, certified financial planner and vice president of coaching strategy at  OfColor :

"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."

Sophia Acevedo, banking editor,  Business Insider : 

"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the  average bank account ."

What should someone look for in an online bank?

Roger Ma, certified financial planner with  lifelaidout®  and author of  "Work Your Money, Not Your Life" :

"How onerous the transfer process is, transferring money in and transferring money out. Is it same day, next day? Is it pretty easy to sync a brick-and-mortar checking account to this particular high-yield savings account?"

Mykail James, MBA, certified financial education instructor,  BoujieBudgets.com :

"When it comes to online banks, you want to be a little bit more strict about what type of interest rates they're providing. That's the biggest thing, because online banks are supposed to have the higher interest rate because they don't have the overhead of the brick-and-mortar. You want to make sure that it's well above the national average.

"What types of securities do they provide? Do they have two-factor identification? If it's an online bank, they should definitely have — at the bare minimum — two-factor authentication in how easy it is to change your passwords and things like that, because you want to be a little more hypersensitive about the cyber security for a strictly online bank."

What should someone look for in a bank account if they travel frequently?

Sophia Acevedo:

"You'll want to be mindful of bank account limits and fees. You might be charged fees if you use an ATM from another bank. Banks and credit unions also have limits on how much you can withdraw from your ATM each day. When you're looking for a bank account, see if your bank provides refunds for out-of-network ATMs and what the ATM withdrawal limits are."

Methodology: How Did We Choose the Best Bank Accounts for International Travel?

At Business Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of savings accounts and checking accounts so you don't have to. You can read more about how we review and rate product on our editorial standards page .

We understand that "best" is often subjective, however, so in addition to highlighting the clear benefits of an account — a high APY, for example — we outline the limitations, too. 

Generally, bank accounts are designated either savings or checking. When you're saving up for a big trip, a high-yield savings account is appropriate because you'll be able to earn some interest on your money, but still be able to access it when you need to.

A checking account may be more appropriate to use while traveling, as you'll be provided with a debit card to use at shops, restaurants, and ATMs. You may also consider using a credit card , which could provide rewards and other travel-related benefits.

That said, the best bank accounts to use for international travel expenses should be appropriate for your everyday life too, with low fees, good earning potential, and easy access. 

See our full ratings methodology for checking, business checking, savings, and money market accounts »

• Are banks open today? Here's a list of US bank holidays for 2023
• Best CD rates
• Best High-yield savings accounts
• Four reasons why your debit card might be denied even when you have money

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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Cruise Privileges Program Cruise Privileges Program (“CPP”) benefits are valid only for new CPP bookings made with participating cruise lines through American Express Travel. CPP benefits are valid only for eligible U.S. Consumer and Business Platinum and Centurion ® Card Members (Delta SkyMiles ® Platinum Card Members are not eligible). CPP bookings must be made using the eligible Card. CPP benefits are non-transferable. Participating cruise lines and program benefits are subject to change. The benefits of an onboard credit and amenity are valid for new CPP bookings of at least five nights and require double occupancy; the eligible Card Member must be traveling on the itinerary booked; the total cost of the CPP booking must be paid using an American Express ® Card in the eligible Card Member's name. Onboard credits and amenities cannot be combined with other offers unless indicated; blackout dates, category and fare restrictions may apply. Onboard credits and amenities may not be available to residents outside of the 50 United States. Onboard credits and amenities apply per stateroom, with a three-stateroom limit per eligible Card Member, per cruise. For new CPP bookings with Celebrity Cruises, Norwegian Cruise Line, Holland America Line, Princess Cruises, and Royal Caribbean International, eligible Card Members receive an onboard credit (in USD) of: $100 for inside and outside staterooms, $200 for balcony, verandah, and mini-suite staterooms, and/or $300 for suites. For new CPP bookings with Cunard, eligible Card Members receive an onboard credit (in USD) of: $300 for all Queen Mary ocean-view staterooms category EF or higher, and/or Queen Victoria or Queen Elizabeth ocean-view staterooms category FA or higher. For new CPP bookings with Ama Waterways, Oceania, Regent, Azamara, Seabourn, Silversea, Uniworld, and Windstar, eligible Card Members receive an onboard credit of US$300 for all stateroom categories. For new CPP bookings, Centurion Members receive an additional US$200 onboard credit on Regent Seven Seas Cruises, Seabourn, and Silversea. Onboard credits will be applied at checkout upon completion of the cruise; credit amounts in local currency may vary due to foreign exchange rates; credits are subject to cruise line terms and policies; credits cannot be used for casino charges, gratuities or other similar charges. Any unused portion of a credit is non-refundable and is not redeemable for cash. Other restrictions may apply. Onboard amenities vary by participating cruise line and are not available on Silver Explorer, Silver Galapagos and Silver Discoverer. Onboard credits and amenities are not available on Celebrity Cruises Galapagos sailings.

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Platinum Destinations ® Vacations Platinum Destinations ® Vacations (“PDV”) benefits are valid only for new bookings made with participating suppliers through American Express Travel. Participating suppliers and PDV benefits are subject to change. Benefits cannot be combined with other offers unless indicated. Benefits are valid only for eligible U.S. Consumer and Business Platinum and Centurion ® Card Members (Delta SkyMiles ® Platinum Card Members are not eligible). PDV bookings must be made using the eligible Card and eligible Card Member must be traveling on the itinerary booked. PDV-eligible Card Members that are Membership Rewards program-enrolled will receive one (1) extra Membership Reward ® point per eligible dollar spent on PDV bookings; separate airfare and other charges associated with PDV bookings are not eligible. Extra points will be credited to the Card Member’s Membership Rewards account within 8-12 weeks after completion of the PDV travel. For more information visit membershiprewards.com/terms.

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The value of Membership Rewards points varies according to how you choose to use them. To learn more, go to www.membershiprewards.com/pointsinfo .

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How financial service providers increase competitive advantage through travel sales

For financial service providers, a travel offering provides additional benefits to customers that help you attract more customers, maximize share of wallet, and increase loyalty. This is why JP Morgan Chase acquired Frosch, and U.S. Bank acquired TravelBank.

Whether you are interested in upgrading your existing travel offering or launching one for the first time, here are three essential capabilities to look for when it comes to selecting the right partner.

The best customer experience

Leisure and corporate travel bookings and rewards increase engagement with your digital properties. 

You can also capture additional high value travel and lifestyle spend on your credit and debit cards by offering a high-quality travel rewards and redemption experience. 

With Spotnana, it’s easy for your customers to buy travel through a combination of points and credit cards, or with a credit card alone. We support the unique benefits you offer to cardholders and help you increase customer loyalty and engagement.

Spotnana achieves an average of 96% self-service online booking rates with industry-leading features for managing trip changes, cancellations, unused ticket credits, loyalty rewards, and more. Powerful self-service capabilities keep your customers engaged with travel shopping through your digital properties and provide a delightful customer experience that reflects positively on your brand.

When travelers need or want to speak with an agent, Spotnana enables seamless, personalized service anywhere in the world with fast issue resolution times, because our agents use the same underlying platform as the travelers they serve. Spotnana offers turnkey servicing through our agents, and we can train your agents to use our platform, which includes valuable automations for increasing agent efficiency.

The best global content

Your customers have a wide array of retailers they can buy travel from – direct from suppliers, online travel agencies (OTAs), competing portals from other financial service providers, and more.

Offering the widest array of available travel options, at the best prices, helps ensure they choose your travel portal. Spotnana provides comprehensive global content to your travelers from the widest array of sources including:

• Deep direct NDC connections with the world’s largest airlines including American Airlines, United Airlines, and Lufthansa Group airlines.
• Direct connections with carriers including Southwest Airlines.
• Low-cost carrier content via Travelfusion.
• Hotel content sourced from Sabre, Expedia, and Booking.com.
• North American, UK, and European rail carriers.

Major airlines have become increasingly aggressive with strategies to drive adoption of NDC. For example, American Airlines and United Airlines have made as much as 40% of their travel content available exclusively via NDC and lowered prices for NDC fares. Other airlines have added surcharges to other forms of booking. Spotnana’s best-in-class NDC integrations ensure your travelers have access to the best travel options, competitive prices, and the best traveler experiences.

Seamless integration and rapid innovation

Many financial services providers operate their travel portals on outdated tech stacks. This approach can lead to high technology costs, the need for manual labor to resolve issues, and a disjointed experience for travelers booking across desktop, mobile, and agent channels.

Spotnana offers a future-proof travel offering , built entirely on new, modern cloud-based infrastructure that supports an unprecedented pace of innovation via microservices and open APIs.

Our next-generation Travel-as-a-Service platform can be embedded in your web portal and mobile app, white labeled to match your branding , and deeply integrated with your systems for payments, loyalty rewards, analytics, and more. It’s up to you how your product looks and functions for travelers.

Spotnana provides the easiest way to sell travel. We can help you reduce market risk, eliminate development costs, and delight your customers. Even better, we can help you get started with travel sales in less than 90 days.

The guide to selling travel

Want to learn more about how your company can revamp its travel portal quickly with Spotnana? Read the guide to selling travel or get a demo today.

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Find financial advisors specializing in serving travel lovers who are ready to help with your financial planning needs so you can enjoy seeing the world with less money stress.

You have unique financial planning needs as someone who loves to travel, whether you’re younger and working as a digital nomad , or planning to travel the world with your spouse throughout your golden years .

But can you afford the travel lifestyle you hope to achieve? To figure out the answer, you may want to hire a financial advisor who understands the unique financial planning challenges and opportunities of travel lovers. Fortunately, an increasing number of financial advisors specialize in serving individuals and clients with a wanderlust to see the world.

Before hiring a financial advisor, it’s important to first consider your own financial planning priorities. In this guide, we’ll share a few quick tips to help you get started in your search and introduce you to financial advisors featured on Wealthtender you may want to add to your shortlist.

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Smart tips for finding a financial advisor, get to know financial advisors for travel lovers, 🙋‍♀️ have questions about financial planning for travel lovers.

➡️ How Much Does a Financial Advisor Cost? Read the Article

Before hiring a financial advisor, here are a few quick tips to help you find the best advisor for you.

Before hiring an advisor, determine what services you need from them. Whether it’s full-service investment management or a plan focused on a specific area of your finances, put together a list of what you’d like help with before contacting an advisor.

Though most people use a financial planner simply to invest for retirement, this is only a small part of what many advisors offer. Here’s a quick rundown of potential services a financial advisor may offer you:

• Budgeting and money management
• Debt management
• Insurance planning
• Retirement planning
• Other investment planning
• Inheritance planning
• Estate planning
• Tax planning

As you can see, financial advisors can help you with your entire financial picture, not just investing. As you start to plan for life’s bigger milestones, you should consider finding a financial advisor that specializes in those areas.

Finding the right advisor can help you minimize risk, maximize gains and take advantage of tax breaks while investing for your future. They can also help you protect your assets with the right kinds of insurance and help you pass on your financial legacy with a proper estate plan .

Once you have a list of services you would like, review the fee structures financial advisors offer . Finding a balance between the services you need and the cost of those services will help narrow down the field of advisors you may want to work with.

If you are looking for a full-service advisor to manage all of your investments, consider searching among fee-based financial advisors . If you want to manage your money yourself, consider the flat fee and monthly subscription advisors for ongoing support.

Once you have chosen the services and fee structure you prefer, it’s time to contact a few advisors and interview them. Here are questions to ask financial advisors :

• What services do you provide?
• What are all the ways you get paid? (fee transparency)
• What is your investment strategy?
• How do you measure investment performance?
• How do we communicate about my plan?

Interview multiple advisors to get a feel for who you want to work with. A combination of fees, services, and customer service will help you determine the best fit for your financial advice.

Once you find an advisor (or two) you feel comfortable with, it’s always a good practice to check their credentials and the firm’s details. You can do this at the  Investment Adviser Public Disclosure (IAPD) website . 

You can check both the individual and the firm to view their background and experience details, as well as any disciplinary action taken against them or their firm.

As licensed financial professionals, there is oversight into how financial advisors conduct business, so running a quick (free) check on them is recommended.

For additional information about advisor credentials, read our article to learn the most popular designations held by financial advisors , as well as specialized credentials which may be important to consider if you have unique financial planning needs.

📍 Click on a pin in the map view below for a preview of financial advisors specializing in serving travel lovers and who can help you reach your money goals with a personalized plan. Or choose the grid view to search our directory of financial advisors with additional filtering options.

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How do I know if I’m ready to hire a financial advisor?

You should strongly consider hiring a financial advisor if you have a significant amount of money available for saving or investing. This could occur after years of making annual contributions to a retirement plan like a 401(k) through your employer or suddenly if you receive a large inheritance or sell your house for a large profit.

But even if you don’t have a lot of money saved, many financial advisors and planners provide reasonable pricing options and valuable services you should consider, especially if you’re facing a significant life event. For example, if you’re starting a new job, getting married, starting a family, getting divorced, lost your job, starting or selling a business , or approaching retirement age, working with a trusted financial advisor or planner may prove worthwhile.

Before I hire a new financial advisor, should I fire my current advisor?

You don’t need to fire your current advisor before beginning your search for a new financial advisor. In fact, your new advisor can help coordinate the transition of your assets from your previous financial advisor.

Where can I read reviews about financial advisors written by their clients to help me decide if I should hire them?

After 60 years of regulatory prohibition of financial advisor reviews in the US, a rule issued by the Securities and Exchange Commission (SEC) became effective on May 4, 2021 that means both financial advisors and directory websites that help consumers search for a financial advisor can collect and display financial advisor reviews, an important factor worth considering when choosing who you’ll hire to manage your investments and life savings. 

Wealthtender is the first independent advisor review platform designed to be fully compliant with the new SEC rule, and we look forward to helping you evaluate financial advisors based on reviews written by their clients.

I’m a financial advisor interested in being featured in this guide. How do I get started?

Thanks for your interest. We look forward to learning more about your practice and helping you attract your ideal clients where you may be a good fit based on their individual needs and circumstances. Please click here to learn how you can join local financial advisors featured on Wealthtender.

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender and Editor-in-Chief. He and his wife live in Austin, Texas. With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress. Learn More about Brian

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The Top 100 Cross-Border Payment Companies

The world’s 100 top cross-border payment companies in 2023, according to FXC Intelligence.

Cross-border payments are having another strong year in 2023. E-wallets are continuing to take market share from regular card payments. Digital remittances are growing, making it easier to send and receive money across borders. Meanwhile, large and small players are increasingly penetrating the fragmented, often complex B2B payments market. Global interoperability schemes are also picking up steam, with countries worldwide developing and linking instant payment systems; central banks launching new central bank digital currencies (CBDCs); and the G20 doubling down on its Roadmap for Enhancing Cross-Border Payments. 

Amidst all this, one of the best ways to understand an industry is to keep its biggest players front of mind. That’s why FXC Intelligence has released The 2023 Cross-Border Payments 100, a market map that recognises and celebrates the 100 most important players in the cross-border payments space. Now in its fifth year, The Cross-Border Payments 100 profiles the 100 players that truly matter in the sector.

Featuring companies across money transfers, payments processing, B2B and beyond, the map separates the top 100 players into eight groups: ecommerce, banks, mobile, VC equity-backed, public companies, independently owned, crypto and private equity-backed.

This year, we’ve added a new ecommerce section to our map to highlight the impact that several key players – including Amazon, Booking.com, Expedia and Mercado Pago – are having on cross-border payments. A few from our Top 100 last year have therefore been moved to this section.

Other new entrants include global financial messaging network SWIFT and mobile payment specialists MTN Mobile and Terrapay.

We’ve used the combined industry expertise of our team and our unique data to make this list the definitive guide to key players in the cross-border space. Scroll down to view The 2023 Cross-Border Payments 100 market map or select from the links below to jump to the relevant section:

The Top 100 Cross-Border Payment Companies for 2023: Market Map

Vc-backed (growth stage), public companies (non-banks), independently owned, private equity-backed.

Published every year, our market map recognises the leading companies in cross-border payments worldwide, including publicly traded companies, startups and private companies. It covers companies operating across consumer money transfers and remittances, B2B payments, ecommerce companies, payment processors, crypto services providers and beyond.

Here’s The 2023 Cross-Border Payments Top 100 in full:

To make our list, companies have to fulfill certain criteria:

• Be of a certain scale. This is not a startup or VC list, nor is this a challengers list.
• Companies don’t have to have raised outside funds, but they must have an established customer base.
• Cross-border payments must either be the primary activity (many payment companies) or a substantial revenue line (certain banks, payment processors or card companies). With subsidiaries, we include them in the parent company, rather than listing them separately.

And our sense check: if we removed the company, would it have a meaningful impact on the sector? We track over 15,000 players in the space, making this 100 the cream of the crop.

The 2023 Cross-Border Payments 100 in detail

Key information about every company in FXC Intelligence’s 2023 cross-border payments top 100, divided by company type. Scroll down to view the full list, or click to jump to the relevant section:

With the overall ecommerce market expected to grow in 2023, cross-border payments remain vital for global brands, airlines and marketplaces, as well as smaller merchants looking to penetrate markets abroad. Here are our top picks for ecommerce cross-border payments companies in 2023.

Amazon 

www.amazon.com  

Founded: 1994

CEO: Andy Jassy

Customer focus: Consumers, Merchants, Ecommerce Businesses

Focus region: US, Global

Years on Top 100 Map: 1

Starting out as an online marketplace for books, Amazon has since grown to become the world’s biggest ecommerce company, selling 350 million products to 300 million active customers worldwide. As of April 2023, the US-based company has a market capitalisation of $1tn, making it one of the world’s most valuable companies.

Amazon’s total sales revenue amounted to $514bn in 2022, a substantial portion of which was cross-border. During that year, it launched Buy With Prime, allowing US-based prime users to shop using Prime directly from merchants’ online stores; integrated Veeqo to support merchant shipping; and introduced a new cash advance program allowing businesses to access capital faster. It also acquired health and wellbeing company One Medical and Indian social commerce startup GlowRoad. 

www.antgroup.com

Founded: 2014

CEO: Eric Jing

Customer focus: Consumers, Small Businesses

Focus region: China, Global

Years on Top 100 Map: 5

Formerly known as Ant Financial and Alipay, Ant Group is a fintech and affiliate of Chinese multinational tech company Alibaba, with services spanning two million sellers. Ant Group owns Alipay, China’s largest digital payments platform which serves over 1.3 billion users and 80 million merchants (as of 2020), and investment fund Tianhong Yu’e Bao, which had 588 million users in 2019. It also connects to international e-wallet platforms through cross-border digital payments solution Alipay+.

The company was valued at $235bn before its IPO was halted in November 2020, with its valuation now at $64bn as of January 2023. There has been discussion over whether this IPO will be revived after Alibaba announced plans to split its business into six new groups in March 2023. In 2022, Ant Group launched ANEXT Bank, a new digital bank that will offer business loans to SMEs in Singapore, as well as a new BNPL offering, Ant Bank PayLater, for Alipay users in Hong Kong. 

Booking.com

www.booking.com  

Founded: 1996

CEO: Glenn D. Fogel 

Customer Focus: Consumers, Travel Retailers

Focus region: Netherlands, Global

Based in Amsterdam, the Netherlands, Booking.com has become one of the world’s largest travel agencies, allowing consumers to make bookings at hotels across 227 countries, with more than 28 million reported total accommodation listings across the site. The company served 100 million users on its mobile app in 2021 and facilitates guest payments across a variety of payment methods, including credit cards, debit cards and payment services such as PayPal, Apple Pay, Google Pay and Alipay. 

Booking.com has benefitted from the recent return to travel, with Booking Holdings – the holding company that operates several other travel search engines – reporting a 36% rise in quarterly revenues in Q4 2022, bringing in a total of $17bn for the full year. Booking.com has recently ramped up its marketing budget and is growing its focus on alternative accommodation (anything that isn’t a standard hotel), which accounted for 30% of total room nights booked in 2022.

www.expedia.com  

CEO: Peter Kern 

Customer Focus: Consumers, Travel Businesses

Expedia.com is an online travel agency and metasearch engine that is part of Expedia Group – a Seattle-based owner of numerous online travel fare aggregators. Customers can use the company’s website or mobile app to book flights, hotels, cruise ship tours and other travel packages. Expedia serves 112 million monthly unique visitors worldwide (as of 2020) and was a major contributor to Expedia Group’s overall revenue in 2022 ($11.7bn). 

Aside from welcoming a new CFO last year, Expedia Group also introduced its new Open World tech platform to help partners launch new travel products and services. It also enabled BNPL payments on its sites through a partnership with Afterpay and launched a new partnership with Bilt Rewards to allow members to book travel using their Bilt reward points. 

Mercado Pago

www.mercadopago.com  

Founded: 2003

CEO: Marcos Galperin

Customer Focus: Consumers, Merchants

Focus region: LatAm 

Mercado Pago is an online payments platform that facilitates payments for merchants, with a primary focus on the LatAm region. The platform was created by Mercado Libre, an ecommerce business that was founded in Argentina but is now based in Uruguay. Mercado Libre amassed $10.5bn in revenue in 2022, with $36bn in volume passing through the Mercado Pago platform. In 2022, Mercado Libre saw 159.3 million unique fintech active users.

In a recent earnings report, Mercado Libre spoke about moving its Mercado Pago product from being mainly a payments wallet to being a full-service digital account (more than half of Mercado Libre’s users make payments through the app). Mercado Pago has also been moving more into the crypto space, having recently expanded the purchase and sale of bitcoin and ethereum to Mexico. 

www.tencent.com

Founded: 1998

CEO: Ma Huateng

Customer focus: Consumers, Businesses

Focus region: China 

Tencent is a major Chinese multinational tech and entertainment company and the owner of WeChat, China’s biggest messaging app. Aside from Alipay, WeChat’s payments solution WeChat Pay is now the pre-eminent digital wallet for Chinese businesses and consumers, with 1.2 billion monthly active users (according to unaudited Tencent figures from Q1 2022). 

Last year, WeChat Pay launched a new palm print solution allowing customers to pay for purchases by swiping their hands, and announced it would launch a new QR payments system for businesses through a partnership with Alipay. It also announced it would be integrating the digital yuan, the Chinese CBDC, into its payment platforms and launched services in Qatar with the Qatar National Bank.

www.walmart.com

Founded: 1962

CEO: Doug McMillon

Customer focus: Consumers, Retail, Remittances

Years on Top 100 Map: 4

Headquartered in the US, Walmart is the world’s largest retail corporation in terms of revenue, with total revenue reaching $573bn in 2022 and a market cap of around $400bn in April 2023. The company has long been active in remittances, having partnered with MoneyGram, Ria and Western Union to facilitate transfers to 200 countries from nearly 4,700 stores across the US through its Walmart2World segment. In March 2022, the company relaunched its Mexican remittances programme to reduce the cost of sending money to Mexico from the US. The retail conglomerate also invested $200m in Indian mobile payments company PhonePe, which facilitates retail payments through Unified Payments Interface, India’s instant payments platform.

How is FXC Intelligence’s data helping the cross-border ecommerce industry?

Banks 

The world’s top banks are continuing to expand upon their cross-border payment offerings in 2023. Here are our top banks that serve the cross-border payment sector and in some cases also have large cross-border businesses themselves.

American Express

www.americanexpress.com

Founded: 1850

CEO: Stephen Squeri

Customer focus: Consumers, SMEs, Enterprises

Focus region: US

One of the 30 components of the Dow Jones Industrial Average, American Express (Amex) has grown to become one of the world’s largest providers of card payment services, with over 133 million cards in operation worldwide. According to Amex, its cards are accepted at 99% of places in the US that accept credit cards, but the company reaches consumers and businesses – spanning retail, travel, hospitality and financial services – across more than 100 countries.

International B2B payments were a growing focus for Amex in 2022, as discussed in our B2B 2022 trends piece . Targeting SMEs, Amex launched American Express Global Pay, which allows businesses to send payments from their business bank account to suppliers across more than 40 countries. The company also launched Amex Business Link, a system that connects buyers and suppliers across both non-card and non-card payments, essentially making it easier to manage payments.

Bank of America

www.bankofamerica.com

Founded: 1784

CEO: Brian Moynihan

Customer focus: Consumers, SMEs, Large Enterprises, Fintechs, Financial Services

Bank of America (BofA) is one of the largest banks in both the US and the world. The bank in its current iteration was formed after BankAmerica was acquired by NationsBank for $62bn, nearly a century after the founding of its first iteration as the Bank of Italy in 1904 and more than two centuries after what is now the eastern portion of its business was chartered as Massachusetts Bank. The business now serves approximately 67 million consumer and SME clients across 35 countries via approximately 3,900 retail financial centres. It also offers payment, FX and banking services to other banks and fintechs in the sector.

Last year, BofA expanded its virtual account management solution to US businesses and brought ACH Positive Pay (a fraud mitigation solution) to mobile devices, making it easier for businesses to approve and reject incoming transactions; launched CashPro Forecasting, which uses AI and machine learning to predict companies’ future cash flows; and launched Pay by Bank, an open banking solution that allows shoppers to pay for ecommerce purchases directly from their bank accounts with no card details required.

Banorte (UniTeller)

www.banorte.com

Founded: 1899

CEO: Jose Marcos Ramirez Miguel

Focus region: Mexico

Years on Top 100 Map: 3

Based in Monterrey and Mexico City, Banorte is one of Mexico’s largest commercial banks, offering a variety of financial products to individuals and businesses. The bank serves more than 20 million customers across more than 1,000 branches and is the holding company of UniTeller, a leading US-based global payments company that enables transfers to 200,000 locations worldwide. It also offers payment, FX and banking services to other banks and fintechs in the sector.

In 2020, Banorte partnered with Volante to modernise its cross-border payments infrastructure. In 2021, UniTeller extended remittances to 13 APAC markets, including India, Bangladesh and Indonesia, through a partnership with cross-border payments provider Tranglo. Last year, Banorte launched Autoestrene Verde, a new credit loan product for financing hybrid and electric cars. In April 2023, UniTeller also acquired Oh My Card, a Central American gift card payment platform that the company intends to use to expand its cross-border payment channels.

www.barclays.co.uk

Founded: 1690

CEO: C.S. Venkatakrishnan

Customer focus: Consumers, SMEs, Large Enterprises

Focus region: UK

Barclays is a British multinational bank with headquarters in London, UK. It operates in over 40 countries and has more than 83,000 employees. The bank is listed on the London and New York Stock Exchanges and in 2022 saw total revenues of £25bn, while total assets amounted to £1.5tn. 

Barclays serves 48 million customers across 50 countries, while its international payments service allows money sends to more than 50 different currencies. It also offers payment, FX and banking services to other banks in the sector, while the bank’s fintech unit serves many hundreds of cross-border payment companies across the globe.

www.bmo.com

Founded: 1817

CEO: Darryl White

Focus region: Canada/US

The Bank of Montreal (BMO) is the 8th largest bank by assets in North America, with more than 12 million customers worldwide, including eight million personal and commercial customers in Canada and more than two million in the US. BMO reported it had a total of $1.15tn in assets as of 31 January 2023. It also offers payment, FX and banking services to other banks and fintechs in the sector.

The bank’s Global Money Transfer service allows people to transfer funds to up to 50 countries in multiple currencies, and it serves many leading cross-border payment companies. BMO recently acquired the US-based Bank of the West from BNP Paribas for $13.8bn, boosting its presence in the Western US, as well as acquiring Radicle Group, which offers advisory services on sustainability. Its investments arm, BMO Investments, also launched six new funds for investors in March 2023.

BNP Paribas

group.bnpparibas.com

Founded: 1848

CEO: Jean-Laurent Bonnafé

Focus region: France

Established in 2000 by a merger of leading French bank BNP and international investment bank Paribas, the history of BNP Paribas stretches back into the early 19th century. Today, the bank has 190,000 employees in 65 countries, including almost 145,000 in Europe. It serves 33 million individual and 850,000 corporate clients, with 13.6 million customers using financial services in digital distribution channels. It offers cash management services among its cross-border payments capabilities, as well as providing payment, FX and banking services to other banks and fintechs in the sector.

BNP Paribas launched a new private asset management for businesses in 2022 and tokenised a new renewable energy bond, with proceeds committed to a solar energy project sponsored by EDF. The bank also made numerous acquisitions, including Deutsche Bank’s Global Prime Finance & Electronic Equities business; currency risk management fintech Kantox; media consultancy Cofiloisirs; and mobile payments provider FLOA.

www.bnymellon.com

CEO: Robin Vince

Focus region: US 

BNY Mellon was established in 2007 through a merger of Mellon Financial, which was founded in 1870, and the Bank of New York, which was founded by Alexander Hamilton in 1784. As of 31 December 2022, the company has over $44tn worth of assets under custody and/or administration and operates across 35 countries. BNY Mellon processes cross-border payments amounting to $1tn daily and enables payments to be sent in more than 100 currencies. It also offers payment, FX and banking services to other banks and fintechs in the sector.

In late 2022, the company launched Vaia, its new aggregated payments platform for US-based businesses, as well as a digital asset custody platform that allows certain clients to hold and transfer bitcoin and ether. BNY also had some major personnel changes, with Robin Vince moving from his Vice Chair role to become BNY’s new CEO and President in August 2022 and Jennifer Barker joining as the new CEO for the company’s treasury services division in February 2022.

www.cibc.com  

Founded: 1867

CEO: Victor G. Dodig

Focus region: Canada

Years on Top 100 Map: 2

Based in Toronto, Canada, the Canadian Imperial Bank of Commerce (CIBC) is one of the country’s biggest providers of banking and financial services. It provides a variety of commercial and banking services to 13 million customers, and enables peer-to-peer remittances to 120 countries through its Global Money Transfer service. It also offers payment, FX and banking services to other banks and fintechs in the sector. In addition, CIBC runs online-only bank Simplii Financial, which offers a number of cross-border-related services, including international student banking and a USD savings account.

In 2022, CIBC began providing no-fee, same-day cash pick-ups in 40 countries through remittance giant MoneyGram, and also became the exclusive issuer for Costco credit cards in Canada. In March 2023, CIBC and Simplii launched real-time payments to Alipay mobile wallet users. At the end of March 2023, CIBC also added six new Canadian Depositary Receipts – allowing Canadian investors easier access to foreign stocks – bringing the total to 41.

www.citigroup.com

Founded: 1812

CEO: Jane Fraser

Based in New York City, Citi is a leading international bank serving more than 200 million customers across more than 160 countries. The company’s WorldLink solution is widely used across the sector and has enabled cross-border payments for over 30 years, allowing Citi to issue payments in more than 135 currencies. The bank also offers payment, FX and banking services to other banks and fintechs in the sector.

In 2022, Citi expanded services in Switzerland, Germany and Japan, as well as allowing clients in Europe to pay to and receive from 36 countries instantly via the Single Euro Payments Area system. However, Citi recently joined other banks by selling off its consumer business in India and 13 other countries in Asia and the EMEA region in a bid to conserve capital, and was also reportedly planning to sell Mexican retail bank Banamex.

www.dbs.com

Founded: 1968

CEO: Piyush Gupta

Focus region: Singapore

DBS is a leading financial services provider based in Singapore. It now operates across 18 markets, with more than 33,000 employees. It also offers payment, FX and banking services to other banks and fintechs in the sector.

Last year saw DBS enter more innovative spaces, enabling crypto trading through its digibank app, and partnering with the Ministry of Education to enable e-payments through smart watches in Singaporean schools. It launched new products, including an environmentally friendly debit card; real-time, zero-fee remittances to Bangladesh via DBS Remit; and a buy now, pay later offering (with Mastercard and Pine Labs) for customers in Singapore, Indonesia and Hong Kong. The company also acquired Citi’s consumer banking business in Taiwan. 

Deutsche Bank

Founded: 1870

CEO: Christian Sewing

Focus region: Germany

Founded in the 19th century to support Germany’s foreign trade and exports, Deutsche Bank is a leading provider of financial services for consumers and businesses. As of year-end 2022, it had total assets under management of €1.3tn and reported a net profit of €5.6bn. The company’s cross-border XB-ACH platform supports cross-border payments across 120+ currencies. It also offers payment, FX and banking services to other banks and fintechs in the sector. Deutsche Bank serves many of the larger cross-border payments companies globally.

Through a multi-year partnership with Nvidia, Deutsche Bank is looking to accelerate the use of AI and machine learning in financial services. In October, it announced it had partnered with financial services provider Fiserv to launch Vert, a provider of payments acceptance services to SMEs.

Goldman Sachs

www.goldmansachs.com

Founded: 1869

CEO: David M. Solomon

Headquartered in New York, Goldman Sachs provides financial services spanning investment banking, securities and asset management for individuals, businesses and organisations. The company serves 14 million customers in 160 countries worldwide (based on its transaction banking coverage). It also offers payment, FX and banking services to other banks and fintechs in the sector.

In 2022, alongside other financial institutions, Goldman Sachs launched DatonomyTM – a classification of digital assets used to give investors better insight into market trends. The bank also acquired loan fintech GreenSky; NN Investment partners, to fuel growth of European equity products; and NextCapital, to drive Goldman’s services to consumers saving for retirement. 

www.hsbc.com

Founded: 1865

CEO: Noel Paul Quinn

Focus region: UK/Asia

Based in London, HSBC is one of the biggest financial services organisations in the world, with approximately 39 million customers and a network spanning 62 countries and territories. Through its global money account, it’s possible to send up to £50,000 per day to over 200 different destinations across more than 60 currencies. It also offers payment, FX and banking services to other banks and fintechs in the sector.

In 2022, HSBC completed one of its biggest acquisitions ever – AXA Singapore – which will help expand the bank’s insurance and wealth management in the region. In October 2022, the company replaced its existing CFO with George Elhedery and appointed Greg Guyett the new CEO of Global Banking and Markets.

J.P. Morgan Chase

www.jpmorgan.com  

Founded: 1799

CEO: Jamie Dimon

Years on Top 100 Map: 5  

With a history dating back to the end of the 18th century, J.P. Morgan Chase is now the largest bank in the US and the fifth largest in the world. J.P. Morgan Chase provides FX and payment services to many other financial institutions and cross-border payment companies around the globe. The bank serves 66 million consumer banking customers (as of 2021) across 100 countries. It also offers payment, FX and banking services to other banks and fintechs in the sector.

J.P. Morgan made two major acquisition agreements in 2022: cloud native tech platform Renovite Technologies, to help expand the company’s merchant acquiring platform, and share plan management software company Global Shares, which has nearly $200bn in assets. It’s also one of several banks to explore the metaverse, as we discussed in this deep dive from last year.

Lloyds Bank

www.lloydsbank.com  

Founded: 1765

CEO: Charlie Nunn

Considered one of the big four banks in England and Wales, Lloyds Bank has 26 million customers worldwide. Businesses and individuals can send international payments to over 100 countries using its Internet Banking service. It also offers payment, FX and banking services to other banks and fintechs in the sector.

Lloyds is engaging more with fintechs, having launched an Innovation Sandbox for collaborative projects in October 2022, and in August 2022 completed the UK’s first transaction using a digital promissory note purchase (which allows buyers to pay sellers with a note rather than cash, depending on their credit rating). It also acquired UK protection business Cavendish Online to help improve relationships with its customers, as well as wealth platform Embark. 

www.natwest.com

CEO: Alison Rose

Officially established via a merger of National Provincial Bank and Westminster Bank in 1968, National Westminster Bank (NatWest) is now the UK’s largest retail and commercial bank, serving 19 million people and processing one in four payments in the UK. The bank operates in 12 countries, with service centres in two more. Its FXmicropay service, which is targeted at corporate and financial institutions, provides automated FX and cross-border payments and related services.

In 2022, NatWest signed agreements with TrueLayer, GoCardless and Crezco to offer Variable Recurring Payments; a new passive currency hedging service; and conducted a series of proof-of-concept transactions to enhance carbon market trading. NatWest also entered into a strategic partnership with the Vodeno Group to create a Banking-as-a-Service business; established a new entity in Europe, NatWest Bank Europe GmbH; and is working with Amazon Web Services to create personalised banking experiences based on customer interactions. 

www.pnc.com

Founded: 1845

CEO: Bill Demchak

Tracing its history back to the Pittsburgh Trust and Savings Company in 1845, PNC Financial Services as it is today was formed in 1983 by a merger between Pittsburgh National Corporation and Provident National Corporation. The bank offers a wide range of services to businesses, organisations and individuals, supporting 12 million customers worldwide. PNC also offers a referral service that connects users to a correspondent banking network in more than 100 countries. It also offers payment, FX and banking services to other banks and fintechs in the sector.

In 2021, the company acquired BBVA Transfer Services, which it rebranded as PNC Global Transfers; joined the CHIPS network; and was one of 11 banks to collaborate with SWIFT on its Immediate Cross-Border Payments initiative. Last year, it acquired point-of-sale and payments provider Linga to better service its hospitality and restaurant industry clients. PNC also replaced its Head of Retail Banking and Chief Customer Officer, Karen Lattimer, with Alex Overstrom in June 2022.

www.rbc.com

Founded: 1864

CEO: Dave McKay

One of Canada’s largest banks, RBC leverages over 1,400 banking relationships worldwide to facilitate international money transfers. It serves 17 million customers across 29 countries. RBC also has a US-based banking offering designed specifically for Canadians, providing them instant cross-border transfers and 50,000+ no-fee ATMs. It also offers payment, FX and banking services to other banks and fintechs in the sector.

Alongside SWIFT and J.P. Morgan, RBC became the first Canadian bank to launch Swift Go in 2022, allowing businesses to send cross-border payments of up to $10,000. It also launched a buy now, pay later solution for credit card holders with Visa; a solution for sustainable financing; an integrated banking solutions for incoming immigrants with ICICI bank. It recently appointed a new chair of the board (Jacynthe Côté), as well as acquiring HSBC’s Canadian business, medical billing plan provider MDBilling and wealth management firm Brewin Dolphin.

www.santander.com

Founded: 1857

CEO: Héctor Grisi Checa

Focus region: Spain

In 1857, Banco Santander was incorporated to facilitate trade between the Port of Santander, Spain and Latin America. Today, it is the largest bank in Spain by assets and market capitalisation, providing services to 160 million customers. It also offers payment, FX and banking services to other banks and fintechs in the sector. Created in 2020, the company’s payments arm PagoNxt enables cross-border payments in 140 currencies and other financial services for businesses and consumers. Santander also owns a majority stake in Ebury, a cross-border payments, trade and FX facilitator for SMEs.

Last year, Santander launched a sustainable PoS system; Ulity, a new technology platform for vehicle subscription-based solutions; helpS, a platform with everyday emergency solutions for individuals; and Zinia, a BNPL service enabling instant payments for companies from Europe to Brazil. 

Santander’s many personnel changes for 2022 included a new group CEO, a new CEO for Santander Spain, a new group CRO and a new Country Head for Mexico, while PagoNxt gained a new CFO and CEO for its Merchant Solutions segment.

Societe Generale

www.societegenerale.com

CEO: Frédéric Oudéa (until 23 May ‘23), Slawomir Krupa (from 23 May ‘23)

Société Générale has been a leading European bank for more than 150 years. In 2022, it reported revenues amounting to €28.1bn and an underlying gross operating income of €10.1bn. The bank has been applying SWIFT gpi to institutional clients since 2017, and expanded it to nine new countries across Western Europe and Asia in 2019. Overall, it serves 25 million customers across 66 countries. It also offers payment, FX and banking services to other banks and fintechs in the sector.

Société Générale is another bank that made major personnel changes last year, with some of the most prominent being the proposal of a new Group CEO (due to be appointed at May’s AGM), and the appointment of a new global CIO and a new Group Country Head for the UK and Ireland. The bank’s automotive business unit ALD also recently launched a capital raise to acquire Dutch rival LeasePlan, as part of a mission to own the biggest electric vehicle fleet in Europe. 

Standard Chartered

Founded: 1853

CEO: Bill Winters

Focus region: UK 

Standard Chartered is a British bank, formed under its current name in 1969 through a merger of Standard Bank Limited, dating back to 1862, and Chartered Bank, originally founded in 1853. With its headquarters in the UK, it is an international banking group with more than 83,000 employees and a presence in 59 markets, serving customers in a total of 120 markets worldwide. Through its online international transfer services, customers can move funds for free to Standard Chartered accounts across more than 19 markets. The bank also offers payment, FX and banking services to other banks and fintechs in the sector.

In 2022, Standard Chartered introduced new products for businesses, including a new Payouts-as-a-Service solution, which helps its business clients reduce admin costs by automating payouts to lots of different parties at the same time, and Trade Track-It, which allows clients to monitor digital trades in real-time. It was also one of several big banks to enter the metaverse, in a partnership with decentralised virtual world platform The Sandbox.

www.ubs.com

Founded: 1862

CEO: Sergio P. Ermotti

Focus region: Switzerland

UBS is a Swiss multinational bank and financial services provider. It is the amalgamation of more than 370 financial services firms that have merged into the company since the founding of the original Union Bank of Switzerland in 1862. The UBS Pay Worldwide platform facilitates cross-border payments in more than 120 currencies (it claims this number is higher than any other Swiss bank) and the bank operates in 50 countries worldwide. It also offers payment, FX and banking services to other banks and fintechs in the sector.

UBS recently bought its main rival, and the second-largest bank in Switzerland, Credit Suisse, for $3.3bn after that bank collapsed in March 2023. Last year, it introduced the world’s first digital bond that is publicly traded and settled on both blockchain-based and traditional exchanges, and saw a number of key personnel changes, including a new Chief Revenue Officer and a new President for UBS Americas. It also welcomed Sergio Ermotti back as CEO in April 2023; he previously led the bank from 2011-2020.

Wells Fargo

www.wellsfargo.com

Founded: 1852

CEO: Charles W. Scharf

Customer focus: Remittances, Consumers, SMEs, Large Enterprises, Fintechs, Financial Services

Wells Fargo is a US-based financial services business with headquarters in San Francisco, California. It currently serves 69 million customers in 28 countries across a range of financial services, including personal and commercial banking, investing and wealth management. It also offers payment, FX and banking services to other banks and fintechs in the sector. Last year, the company’s total revenue was $74bn while its total assets amounted to $1.9tn. 

In 2022, Wells Fargo pursued higher wealth customers with its new Premier checking account and Autograph Visa Rewards Credit Card, as well as younger investors with its updated Intuitive Investor platform.

How are banks competing on FX pricing and strategy?

A number of the largest mobile-focused providers have made significant inroads into the remittances sector, allowing money to be quickly sent between banked and unbanked customers. Here are our top picks for mobile cross-border payments companies in 2023.

www.airtel.in

Founded: 1995

CEO: Gopal Vittal

Customer focus: Remittances, Consumers, SMEs, Large Enterprises

Focus region: India

Airtel Payments is part of Airtel, a leading telecommunications company based in India offering wireless connectivity, prepaid and postpaid mobile and broadband services to consumers and businesses. Overall, the company serves 500 million customers across 17 countries. It has collaborated with leading money transfer operating companies (most notably Western Union) to enable real-time payments across millions of bank accounts in India and Africa. 

Airtel is currently working with Meta on a global connectivity project and has also partnered with Google, which is set to invest up to $1bn in a project to enhance digital inclusion in India. Other projects include launching a new credit card with Axis Bank and creating India’s first 5G-enabled auto manufacturing unit with Tech Mahindra. 

www.idt.net

Founded: 1990

CEO: Samuel Jonas

Customer focus: Consumers, Remittances, Mobile Top-Ups

Focus region: Israel, US, Global

Originally a telecommunications company, IDT Corporation is a global provider of communications and payment services. The company owns National Retail Solutions (NRS), a provider of PoS and payment processing services for retailers. IDT’S BOSS Money app enables international remittances from the US to more than 40 destination countries, with over 325,000 payment points across Latin America, the Caribbean, Africa and Asia. BOSS Revolution allows mobile airtime top-ups, as well as international calling.

BOSS Money expanded money transfer capabilities across a number of countries in Africa in 2022 – including Nigeria, Togo, Sierra Leone and Benin. NRS partnered with OnPoint to expand its services for independent retailers and also launched a new B2B marketplace to connect wholesalers with suppliers. IDT also acquired blockchain-based digital wallet Leaf, contact-centre-as-a-service provider Integra and digital distribution platform Sochitel. 

www.vodafone.com/mpesa

Founded: 2007

CEO: Sitoyo Lopokoiyit 

Customer focus: Remittances

Focus region: Africa

Founded by Vodafone and Safaricom (a leading telecoms provider in Kenya), M-PESA is a mobile phone-based international money transfer service. It serves more than 51 million customers and 465,000 businesses across seven African countries, with 600,000 agents across the continent. According to Vodafone, M-PESA processes more than 61 million transactions a day.

Alongside Visa and Safaricom, M-PESA launched a virtual card in 2022, allowing 30 million of M-PESA’s users to make cashless payments at Visa-enabled merchants. It also partnered with remittance company NALA to extend money transfers to Africans in more European countries, and recently moved its operations into a cloud operations centre in Kenya. In 2023, M-PESA announced a strategic partnership with Amazon to provide global remittances.

www.mtn.com  

CEO: Ralph Mupita

Focus region: South Africa

MTN Mobile is a mobile money solution that facilitates payments across various countries in Africa, including international money transfers, mobile phone top-up, purchases or bill payments. It is owned by subsidiaries that make up MTN Group, a mobile telecoms company in Africa that has 272 million customers across 19 markets.

Last year, MTN Mobile Money (often shortened to MoMo) helped drive a 20% rise in pre-tax profits for MTN Uganda, just one country where businesses have seen demand for cashless payments after the Covid-19 pandemic. Alongside Optasia and Ecobank, MTN recently launched a new mobile money microloan service in Guinea in January 2023.

Orange Money

www.orange.com

Founded: 2008

CEO: Region-dependent (CEO of Orange: Christel Heydemann)

Focus region: Côte d’Ivoire, Africa

Orange Money is a platform for mobile-phone based money transfers owned by Orange, a French international telecoms company. Since launching in Côte d’Ivoire, the service has amassed 80 million customers in 17 countries. In 2020, Orange expanded its financial services offering with the launch of its own bank, Orange Bank Africa. In October 2022, Orange announced it had been conducting user relationship analysis to highlight how customers are using the service in order to identify potential improvements. 

How does e-wallet pricing differ from that of other pay-in and pay-out methods?

An economic downturn in 2022 may have had an impact on investment last year (see our report on this topic ), but in 2023 there are still many leading payment companies with venture capital backing. Here, we’ve rounded up the biggest VC-backed cross-border payments companies for this year.

www.airwallex.com

Founded: 2015

CEO: Jack Zhang

Customer focus: Marketplace Sellers, SMEs

Focus region: APAC 

Airwallex was founded in Melbourne, Australia, and has since grown to over 1,200 people in 19 offices worldwide. The company has raised over $900m (as of October 2022) and is one of the payment sector’s unicorns. It initially focused on the marketplace sellers market, offering payouts to sellers primarily based in China, but its product set has since expanded to cover small and medium-sized enterprises (SMEs) and card-based products. Airwallex’s payment network allows businesses to get paid, manage funds and payout more efficiently across 130 countries. 

Airwallex is expanding its focus in the APAC region, having recently secured an online payment licence in China after acquiring Guangzhou Shang Wu Tong Network Technology. This was after it appointed a new Chief Revenue Officer and APAC General Manager in December 2022. Last year, it also signed a deal with ecommerce provider Shopify to enable more payment methods for merchants on the platform.

Checkout.com

www.checkout.com

Founded: 2009

CEO: Guillaume Pousaz

Customer focus: Merchants, Fintechs

Focus region: Global

Launched as a cloud-based payment platform in Singapore, Checkout.com has grown to over 1,700 employees in 19 global offices, with a headquarters in the UK. It specialises in processing international payments for ecommerce businesses and other fintechs, and offers an all-in-one payment solution for merchants that eliminates the need for intermediaries. The company processes payments across more than 150 currencies. 

Checkout.com reduced its valuation from $40bn to $11bn in December 2022 as a result of a wider downturn in investment. However, the company also scaled its operations in some areas during the year, adding new offices in the US and expanding into Israel. Additionally, it launched virtual and physical card issuing, allowing its clients to create payment cards for their customers. 

Chipper Cash

chippercash.com

Founded: 2018

CEO: Ham Serunjogi

Customer focus: Consumers, B2B Payments

Focus region: Africa, Europe, US

Based in San Francisco, US, Chipper Cash builds software to enable free and instant peer-to-peer cross-border payments in Africa and Europe, as well as solutions for businesses and merchants to process online and in-store payments. The company facilitates money transfers for five million customers worldwide. 

In total, the company has raised $337.2m in funding over 7 rounds, but has seen an impact from the collapse of one of its backers, crypto exchange FTX. The company had been growing rapidly in preceding years, and last year signed a deal with card issuance platform Highnote to launch a new card product in the US.

business.ebanx.com

Founded: 2012

CEO: João Del Valle

Customer focus: SMEs, Large Enterprises, Fintechs

Focus region: LatAm

EBANX is a leading payment solutions company based in Brazil. The company’s cross-border payments platform allows merchants to directly integrate with 70 acquirers, banks and processors, as well as accept more than 100 payment methods. It has helped major companies conduct commerce with over 70 million Latin American consumers. The company processes around two million transactions per day and facilitates payments for more than 35,000 businesses (as of January 2022).

The company has raised $460m in funding over three rounds, with the most recent being a Series B funding round in June 2021. In September 2022, the company expanded its payments solution to Africa for the first time, meaning it now provides its payment solution in 18 countries. 

CEO: Max Liu

Customer focus: SMEs, Large Enterprises

Focus region: APAC, Europe, Africa, North America

Hong-Kong-based EMQ provides a global payments infrastructure that enables cross-border payments for businesses worldwide. The company serves banks, payment service providers and money transfer operators across more than 80 countries, with expansion efforts underway in core markets as well as the US, Canada and LatAm countries. 

In 2022, the company announced it would be expanding its international payment capabilities to over 170 markets by launching global USD wires – allowing businesses to disburse USD payments worldwide. EMQ has raised $26.5m in funding to date, with its most recent round in July 2020. 

Flutterwave

flutterwave.com

Founded: 2016

CEO: Olugbenga Agboola

Flutterwave is a Nigerian fintech providing payment infrastructure for global merchants and payment service providers in Africa. Businesses can collect payments and process payouts globally across more than 30 currencies with Flutterwave’s API, as well as facilitate money transfers to more than 40 countries. The company currently processes more than 500,000 payments daily and has served more than one million business customers worldwide. 

In February 2022, Flutterwave saw its valuation grow to $3bn following a $250m Series D funding round, making it Africa’s highest valued startup. Now, the payments company is expanding into East Africa, having recently received new remittance licences from the National Bank of Rwanda.

ibanfirst.com

CEO: Pierre-Antoine Dusolier

Focus region: Europe 

Founded in France and based in Belgium, iBanFirst offers an online platform for multicurrency transactions. It now allows businesses to send and receive payments in over 30 currencies to and from 140+ countries. The company has more than 300 employees and serves more than 6,000 clients worldwide, processing €1.4bn every month. 

In May 2021, the company announced it had completed a funding partnership with private equity firm Marlin Equity Partners. Through the deal, Marlin became iBanFirst’s largest shareholder. To date iBanFirst has raised $295.6m. In November 2022, iBanFirst acquired UK-based FX provider Cornhill to help expand its instant payment services to more SMEs in Europe. 

LianLian Global

www.lianlianglobal.com

CEO: David Messenger

Customer focus: Ecommerce, Marketplace Merchants

Focus region: China

LianLian Global is an independent cross-border payments fintech based in China that focuses on ecommerce and marketplace payouts. It serves over 1.5 million cross-border ecommerce and marketplace sellers across more than 100 countries and regions. It has also partnered with major banks including Citi, Deutsche Bank and J.P. Morgan to power its solutions, which are used by ecommerce companies such as Amazon, Shopify and Walmart. 

In 2022, LianLian Global announced it was offering the world’s first cross-border payments guarantee to China, mitigating risk around payments to China-based suppliers made via its digital app. It also expanded its presence in the US in Q2 2022, and in Europe later in the year through ecommerce partnerships with iwoca, RITMO and YouLend. 

mfsafrica.com

CEO: Dare Okoudjou

Customer focus: Merchants, SMEs, Financial Services

MFS Africa is a pan-African company operating the largest digital payments gateway on the continent. It connects more than 320 million mobile money wallets across more than 35 African countries and 700 corridors.

MFS Africa has raised around $220m in funding, with its latest round being a $200m Series C in June 2022. It recently partnered with Western Union to extend services across millions of mobile wallets in Africa from over 200 countries and territories.

www.nium.com

CEO: Prajit Nanu

Customer focus: Remittances, Fintechs, Ecommerce, Financial Services

Focus region: APAC, Europe, US

Based in Singapore, Nium offers cross-border pay-in and pay-out services to a full range of corporates, fintechs and financial service companies. The company facilitates pay-ins across more than 35 markets, real-time payments across 100 markets and payouts across 190 markets. Nium serves over 130 million customers and supports platforms providing financial services to more than three billion people. 

Nium has raised a total of $288m in funding to date. In 2022, the company also opened new offices in India, expanded its money transfer business to Malaysia and acquired payment acceptance software provider SoCash. 

www.paysend.com  

Founded: 2017

CEO: Ronald Millar

Customer focus: Remittances. B2B

Focus region: Europe, Americas, Global

Paysend is an international money transfer service serving over six million consumer customers and 17,000 SMEs. The company leverages card networks to enable P2P money transfers to 170 countries, as well as instant and global payout services for businesses spanning more than 30 currencies and 180 countries.

Paysend has raised a total of $157.6m in funding, with the latest round in December 2021. In May 2021, the UK-based company closed its Series B funding round with a valuation of more than $700m, having raised $125m. In 2022, it reported strong growth in the US due to partnerships with Visa Direct, Mastercard Send, Central Payments and MOVii. In April 2023, it expanded its bank account transfer capabilities to the LatAm region. 

www.pingpongx.com  

CEO: Yu Chen

Customer Focus: Merchants, SMEs

Focus region: Asia, Europe, US

PingPong helps more than one million online merchants save money across cross-border payments, VAT payments, supplier payments and more. As of November 2022, PingPong has accommodated business flows from more than 200 countries and regions, processed over $90bn in transaction volume and connected over 100 ecommerce businesses. 

PingPong achieved unicorn status in 2020, and has received a total of $122m in funding. Earlier this year, Bloomberg reported that the company was considering an IPO to raise as much as $1bn in Hong Kong. In November 2022, PingPong expanded its services to Singapore to strengthen its presence in Southeast Asia, having established 20 offices worldwide. 

www.rapyd.net

CEO: Arik Shtilman

Customer focus: SMEs, Ecommerce, Fintechs

Founded in Israel and based in the UK, Rapyd facilitates cross-border payments for businesses through a single platform spanning several financial services, including payment acceptance, disbursement and digital wallets. The company helps businesses accept payments from more than 100 countries and send payments to more than 190 countries. In 2021, the company was serving around 5,000 businesses. 

In March 2022, Rapyd achieved a valuation of $15bn, making it Israel’s highest-valued unicorn. That year, it also launched virtual accounts, allowing businesses around the world to accept local bank transfers across 25 currencies. It also launched a ‘Hack the Galaxy’ competition for software developers, with the winner potentially winning a trip to the edge of space. 

www.revolut.com

CEO: Nikolay Storonsky

Customer focus: Consumers, SMEs

Focus region: Europe

Revolut is a neobank and financial services company based in the UK. The company serves more than 28 million personal users and 500,000 business users across more than 200 countries and 29 in-app currencies. Primarily through its flagship super app, customers use Revolut to make more than 330 million transactions a month. 

To date, Revolut has raised $1.7bn in funding, including an $800m Series E round in 2021, when the company was valued at $33bn (this valuation has since been questioned by some investors). The company recently published its long-awaited financial results for 2021 , in which it claimed that revenues had risen 189% to £636m. 

www.stripe.com  

Founded: 2010

CEO: Patrick Collison

Customer Focus: Businesses, Merchants

Focus region: US, Europe

Stripe is a payment processor supporting 135+ currencies and payment methods and businesses in more than 50 countries. Stripe receives more than 250 million API requests per day, peaking at 13,000 requests per second. Overall, businesses processed more than $817bn through Stripe in 2022, with more than 100 companies now processing $1bn in payments through the company every year. 

Stripe has raised a total of $8.7bn in funding, having recently raised $6.5bn in a round that valued the company at $50bn (down from $95bn in March 2021). Recently, the company launched services in Thailand and signed a number of high-profile partnerships, including with OpenAI to incorporate its ChatGPT technology into its products and services. 

TerraPay 

www.terrapay.com

CEO: Ambar Sur

Customer focus: Remittances, Businesses, Merchants

Focus region: Europe, Global

Founded in the Netherlands and now based in the UK, TerraPay is a payments infrastructure company that enables cross-border payments for businesses. The company’s payments systems connect more than 2.1 billion mobile wallets and 7.5 billion bank accounts worldwide, and it facilitates money movement from 208 send countries to 110 receive countries.

TerraPay recently raised $100m in a Series B funding round, which it hopes will aid its expansion in the MENA and LatAm regions and increase the size of its payout network to 150 countries by 2024.

www.thunes.com

CEO: Peter De Caluwe

Customer focus: Fintechs, Financial Services, Money Transfer Operators

Focus region: APAC, Europe, LatAm 

Thunes is a Singapore-based payments network aggregator that is developing a cross-border payment network for financial services companies, merchants and money transfer operators. It currently enables payments to 130 countries and accepts payments across 70 collection countries via more than 300 payment methods, spanning 80 currencies. 

Thunes has raised $160m in funding, and in January 2022 announced a new partnership with the World Economic Forum to address systemic inequality in accessing financial services. The company also recently appointed a new LatAm head to boost operations in the region. 

tipalti.com

CEO: Chen Amit

Customer focus: Mid-Size and Large Enterprises

US-based Tipalti facilitates global payments and the accounts payable process for businesses across a wide variety of specialties. In 2022, it grew its customer base to more than 3,000 and transacted $43bn in volume. Its clients include Amazon Twitch, GoDaddy, Roku, WordPress.com and ZipRecruiter.

To date, Tipalti has raised a total of $565m in funding, most recently raising $270m in a Series F funding round that valued the company at $8.3bn. In 2022, the company launched a new integration with Amazon Business to streamline employee purchases on the platform and saw growth in its UK solution (launched in 2021), with 100 new customers signed. 

TransferMate

www.transfermate.com

CEO: Sinead Fitzmaurice

Customer focus: B2B Payments, Education, Financial Services

TransferMate facilitates international payments and receivables transactions for brands around the world. Based in Kilkenny, Ireland, the company has offices in 15 countries. It enables cross-border payments to more than 200 countries, spanning more than 140 currencies. TransferMate has focused on building its account and regulatory base in all the core countries it operates in.

This March, the company launched TransferMate Connect, an integrated payments solution to support product development for banks and fintechs. The company has signed a number of high-profile partnerships, including with Wells Fargo to deliver global payments capabilities. Overall, the company has raised $129.7m in funding, including a $70m round last year when it was valued at $1bn. 

www.veem.com

CEO: Marwan Forzley

Customer focus: B2B Payments, SMEs

Years on Top 100 Map : 5

Founded in 2014 as Align Commerce (changing its name in March 2017), US-based Veem supports domestic or international money transfers to over 100 countries across 70 currencies. The company helps businesses of all sizes streamline their payment process and build relationships with suppliers around the world.

Veem has raised $100m in funding, with its latest raise being in 2020. In December, the company partnered with UK-based financial services firm Finastra to provide its accounts payable and accounts receivable services for SMBs to Finastra’s platform. 

www.zepzpay.com

CEO: Mark Lenhard 

Focus region: UK, Africa, Asia

Formerly WorldRemit Group, UK-based Zepz supports digital cross-border payments. The company transferred $10bn for customers in 2020, with 50 million customer transactions processed in 2020. 

The company owns and operates two leading services for global payments: WorldRemit and Sendwave. Through the WorldRemit app, users can send payments to over 130 countries worldwide, while Sendwave allows P2P payments between Africa and Asia and the rest of the world for more than 800,000 customers. 

In July last year, Zepz reportedly benched plans for an IPO in order to focus on profitability. In September 2022, it announced it had a new CFO and that revenues had grown by 67% to $399m, driven partly by growth in core markets in Asia and Africa. In total, Zepz has raised a total of $699.7m in funding.

How are growth-stage companies approaching cross-border pricing strategies?

In this section, we’re discussing the biggest public companies – i.e. payments companies that are listed on the stock exchange and are not privately owned. Here are our top picks for public payment companies in 2023. 

www.adyen.com

Founded: 2006

CEO: Pieter van der Does, Ingo Uytdehaage (co-CEO from 11 May ‘23)

Customer focus: Merchants

Focus region: Europe, US

Adyen was founded to help create more efficient payment technologies and infrastructure, and provide shopping day insights to merchants. The company has more than 3,000 employees representing 115+ nationalities in 27 offices worldwide, and has served clients including Uber, H&M, Ebay and Microsoft. The core focus for Adyen is processing payments in the biggest developed markets globally, in particular Europe and North America.

In the company’s recent full year results , it reported it had processed a total of €767.5bn in 2022, with revenues amounting to €1.3bn. The company is currently targeting expansion in the US, Japan and the UAE, having acquired payments licences for these countries in the last few years. In 2022, it launched tap-to-pay capabilities on iPhone.

Al Ansari Exchange

Alansariexchange.com

Founded: 1966

CEO: Rashed Al Ansari

Customer focus: Consumer money transfers / Remittances, SMEs

Focus region: Middle East

Al Ansari Exchange is an established provider of foreign exchange, remittance, bill payment and corporate services. With more than 200 branches across the UAE, the company claims to have the largest share of outbound consumer remittances in the country (24%) and serves around 3 million customers each month across 45 countries.

Recently, Al Ansari announced it was taking the company public through an IPO that valued it at about $2bn – part of its strategy to grow its consumer remittances and B2B offerings, as well as expand to new markets in the Gulf. In 2022, the company became the first private exchange company to accept payments via DubaiPay (the Dubai Government’s payments gateway); launched a new Visa Direct-powered digital remittance service; and partnered with National Payments Corporation of India to offer real-time remittances to the country.

www.alphafx.co.uk

CEO: Morgan Tillbrook

Customer focus: Mid-Size and Large Corporates, Institutional

Focus region: UK, Global

Alpha Group (previously Alpha FX) is a London-based payments and hedging company focused on mid-size and large corporates. It offers a range of banking solution products as part of its payments business, and serves over 1,000 customers across more than 50 countries.

In 2022, Alpha’s revenues rose to £98.3m on the back of growing demand for FX risk management services from large corporates, and it is now looking to invest more in alternative banking solutions. It also opened offices in eight countries and has over 350 employees, with a Madrid office set to open this year.

www.argentex.com

Founded: 2011

CEO: Harry Adams

Customer focus: Consumers, SMEs, Corporates

Focus region: UK, Europe, Global

Argentex is a UK-based foreign exchange specialist that provides foreign currency and risk management solutions to corporate and institutional clients across Europe, the Middle East, Africa, Australasia and the Americas. As of December 2022, the company was serving just under 1,600 corporate clients and had over 100 employees. 

Argentex has been targeting expansion in APAC and Europe; it recently opened a new office in Sydney and was granted an Electronic Money Institution (EMI Licence) by the Dutch National Bank in September 2022. Increased currency volatility last year had a positive impact on the company, with clients trading more frequently and hedging for longer. 

payments.corpay.com

Founded: 1992

Group President: Mark Frey

Customer focus: SMEs, Corporates, Institutional, Fintechs, Financial Services

Focus region: North America, Latin America, Europe and Australasia

Part of the FLEETCOR brand, US-based Corpay allows businesses to track, manage and automate global B2B payments across several cross-border and card-based solutions. With regards to its cross-border payments division, the company says it facilitates more than 3.8 million payments annually across over 200 countries and more than 25,000 customers. 

Corpay saw revenues grow by 29% to $772m in 2022, according to its results . The company was originally formed through a merger of Cambridge Global Payments and AFEX , two companies acquired by FLEETCOR. In June 2022, Corpay acquired UK-based Global Reach Group to expand its reach to businesses and financial institutions in the UK and Europe.

www.dlocal.com

CEO: Sebastián Kanovich

Focus region: LatAm, APAC, Middle East, Africa

Uruguay-based dLocal provides a payment platform that facilitates cross-border payments and online transactions for merchants and their customers. The company has more than 700 employees and supports payment operations for more than 600 merchants across 40 countries and over 900 payment methods. 

dLocal says it processed $10.6bn and saw revenues increase 72% to $418.9m in its FY 2022 results (note: a recent report has criticised some of dLocal’s accounting procedures). The company has numerous big-name partnerships, including Microsoft, Meta and Shopify. It expanded its partnership with payroll services provider Deel in October 2022 to facilitate seamless payments to remote workers across LatAm, Asia and Africa. 

www.ebix.com

Founded: 1976

CEO: Robin Raina

Customer focus: Consumers, Businesses (Insurance, Financial Services, Healthcare)

Focus region: Americas, Europe, Asia, Australia

Ebix provides ecommerce, payments and insurance technology products to corporate clients and consumers. Through its India-based EbixCash platform, Ebix enables international money transfers across India and worldwide, conducting $5bn in remittances every year. EbixCash has over 500,000 agents and approximately 18,000 corporate clients. In total, Ebix has 50+ offices across Brazil, Singapore, Australia, the US, UK, New Zealand, India and Canada.

Despite FX headwinds, Ebix reported that revenues rose 6% to pass $1bn for the first time in its 2022 results , with growth driven by FX and travel, e-learning and fintech services. The company announced an IPO for its EbixCash platform that is currently going through the approval process. 

Equals Group

www.equalsplc.com

CEO: Ian Strafford-Taylor

Customer focus: Consumers, SMES, Large Enterprises

Focus region: UK, Europe

Equals Group is a UK-based provider of foreign exchange services, facilitating international payments for individuals and corporations through a range of payment solutions. In recent years, the company has shifted from a B2C to a B2B focus, primarily through Equals Money, its broader bank account product pitched at SMEs, and Equals Solutions, its international payment network for large enterprises. The company also owns FairFX, a currency card and travel money business, and personal and business banking platform Card One Money. 

Overall, Equals Group’s services have benefitted over a million customers, while its Equals Money solution enables payment settlement in over 40 countries (via a partnership with Citibank). In its 2022 results , Equals reported that revenues rose 58% to £69.7m, driven by international payments revenues in large corporations. Also last year, Equals Money joined the Single Euro Payments Area, enabling instant payments to business accounts on the platform across multiple currencies.

Euronet (Ria, XE)

www.euronetworldwide.com

CEO: Michael J. Brown

Customer focus: Remittances, Consumers, SMEs, Fintechs

Headquartered in Leawood, US, Euronet provides financial services and products to more than 170 countries around the world. It has three divisions with the largest, money transfer, now accounting for nearly half of all revenues. It has a market cap of $5.47bn. Euronet owns two major international money transfer companies, Ria and XE, which focus on remittances and consumer and SME payments respectively. Euronet has also started to offer its platform and payout network to other industry players.

Euronet’s revenues increased 12% to $3.3bn in 2022 according to its results , with growth driven partly by a rise in direct-to-consumer digital transactions. The company is also growing Dandelion, its B2B payments network, with new clients last year including international calling service provider Rebtel. 

www.fisglobal.com

CEO: Stephanie Ferris

Customer focus: SMEs, Large Enterprises, Merchants, Financial Services Companies

US-based FIS is a global provider of payments, banking and wealth management solutions for businesses, merchants and financial institutions. The company currently serves more than 20,000 businesses and over a million merchant locations in more than 100 countries. The company had more than 65,000 employees as of December 2021, with more than 40,000 employed outside the US (though recent job cuts may have impacted this figure).

In February 2023, FIS announced it was spinning off its Merchant Solutions segment to once again become standalone merchant acquiring player Worldpay, just four years after it was purchased, ostensibly to appease investors (for more on this story, read our deep dive report ). It reported revenues of $14.5bn for 2022 in its annual results , driven by rises in banking clients and merchant volumes. 

www.fiserv.com

Founded: 1984

CEO: Frank Bisignano

Fiserv delivers financial services – including account processing, digital banking, card issuer services and payment processing – to more than 100 countries, with clients including more than six million merchants and almost 10,000 financial institutions. The company says it has serviced more than one billion card accounts overall.

In its 2022 results, Fiserv reported its revenues grew 9% to $17.7bn, driven primarily by its merchant acceptance segment. In January 2023, Fiserv partnered with BNY Mellon to deliver additional capabilities for real-time FX rate quotes for payments from US-based financial institutions.

www.flywire.com

CEO: Mike Massaro

Customer focus: B2B and Corporates in Education, Healthcare, Travel

Headquartered in Boston, US, Flywire provides a payments platform and bespoke software to clients across the education, healthcare, B2B and travel markets. The company enables payments for more than 3,100 clients across 140 currencies spanning 240 territories worldwide. 

In Flywire’s 2022 results , the company reported revenues had increased 44% to $289.4m, with total payments volume reaching $18.1bn, driven by a return to travel. The company is increasingly looking to penetrate the fragmented B2B space through an all-in-one A/R solution, while growing its education segment through acquisitions of international education payments companies Cohort Go and WPM. 

Global Payments

www.globalpayments.com

Founded: 1967

CEO: Jeffrey S. Sloan

Focus region: North America, Europe, APAC, LatAm

Based in Georgia, US, Global Payments offers payment technology and services to merchants and financial institutions, with a primary focus on ecommerce. With over 24,000 employees, the company serves over four million customers in over 170 countries, and has supported payments across more than 680 million cards.

Last year, Global Payments acquired rival Evo Payments in a $4bn deal as part of its shift to focus on B2B payments. In its 2022 earnings report , the company announced it was selling its gaming business as part of the ongoing shift, as well as a 5% increase in revenue to $8bn. 

www.intermexonline.com

CEO: Bob Lisy

Customer focus: Consumers, Remittances

Focus region: US, Canada, LatAm, Europe

Miami-based Intermex enables international money transfers, primarily between the US and Latin America and the Caribbean. In total, the company enables money transfers to more than 60 countries from the US, Canada and Europe. 

While other remittance companies are turning to digital, Intermex maintains an ‘omnichannel’ approach that prioritises cash-based retail transfers, particularly for money sent from the US to the LatAm region. The company recently acquired competitor La Nacional, through which it expects to boost digital transactions in Europe while bolstering existing agent numbers in the US. Intermex reported that revenues rose 19.1% to $546.8m in its 2022 results . 

www.mastercard.com

CEO: Michael Miebach

Customer focus: Consumers, Businesses, Merchants, Financial Institutions

Mastercard is a US-based financial services company, payment processor and the owner of one of the world’s biggest card networks. Altogether Mastercard has partnerships with 22,000 financial institutions and serves customers in more than 210 countries and territories worldwide. It also enables cross-border payments through Mastercard Cross-Border Services, which facilitates international payments for customers in more than 60 currencies to over 100 markets.

In April 2023, Mastercard introduced Cross-Border Services Express, which complements its existing offering by allowing financial institutions to seamlessly set up international payments for consumers and SMEs. The company has established a large number of partnerships since last year’s Top 100, and saw revenues rise 18% to $22.2bn in its 2022 results , processing a gross dollar volume of $8.2tn. 

www.monexusa.com

Founded: 1985

CEO: Mauricio Naranjo Gonzalez

Customer focus: SMEs, Corporates, Institutional, Fintechs

Focus region: North America, LatAm, Europe, APAC

Monex is a specialist in commercial foreign exchange services, providing international payment and FX risk management solutions to more than 70,000 clients globally. With more than 2,700 employees and $8.9bn in total assets, the company facilitates the delivery of international payments through its Monex Pay platform. It has offices in North America, Latin America, Europe and Asia.

Monex appointed a former Mastercard executive as its new Group CTO and Executive Director in July 2022. Monex’s US division, Monex USA, has recently launched new B2B payments partnerships with fintechs Centtrip and WireFX, as well as accounts payable software provider OnPay Solutions. 

www.ofx.com

CEO: Skander Malcolm

Customer focus: Consumers, SMEs, Merchants, Fintechs

Founded in Australia, OFX is a provider of FX and global payments solutions that enables international money transfers to more than 170 countries across more than 50 currencies. The company has transferred a total of A$220bn (c.$146bn as of April 2023 exchange rates) and has one million customers worldwide. It has more than 400 staff across offices in eight locations, as well as 55 global operating licences

OFX has a global presence, with the North American market providing some of its most significant growth in recent years. OFX is also expanding its offering in the enterprise segment as part of its ongoing three-year growth plan, which hopes to build on the company’s recent acquisition of Canadian FX provider Firma . OFX saw its fee and trading income increase by 17.7% to $158m in its 2022 results . 

www.payoneer.com

Founded: 2005

CEO: John Caplan

Customer focus: SMEs, Merchants, Freelancers, Corporates, Financial Services

Focus region: US, Europe, APAC

Based in New York, US, Payoneer provides an international payments platform to online sellers, large businesses. freelancers and financial institutions. The company has five million customers and 2,000 employees worldwide across 24 global offices. It became a publicly traded company in June 2021.

In its 2022 results , Payoneer reported that revenues rose 33% to $628m, and also announced that long-time CEO Scott Galit was stepping down, leaving former co-CEO John Caplan to be the sole leader of the company. The company is currently shifting its focus to larger SMBs and higher value services (such as its B2B AP/AR business and Commercial Mastercard). 

PayPal (Xoom)

www.paypal.com

Founded: 1998 (Xoom founded 2001)

CEO: Dan Schulman

Customer focus: Consumers, SMEs, Merchants

Headquartered in the US, PayPal operates an online payments platform that allows businesses and consumers to send and receive payments online. The company currency has around 435 million active accounts across more than 200 markets.

PayPal owns and operates Xoom, an international money transfer service that enables cash transfers via bank deposit, cash for pickup and cash delivery to over 160 countries. In 2020, it rolled out a buy now, pay later offering, which has since issued over 200 million loans to nearly 30 million customers ( as of 31 December 2022 ). In 2022, it released a new PayPal rewards program and enabled contactless payment acceptance for small businesses. It also saw revenues rise 8% to $27.5bn. 

www.paysafe.com

CEO: Bruce Lowthers

Customer focus: SMEs, Enterprises, Gaming, Education, B2B

UK-based Paysafe is an international online payments company providing digital wallets, payments acceptance and other ecommerce solutions to businesses. Through its payments platform, the company connects businesses and consumers across 100 payment methods spanning over 40 currencies. The company, which announced it was going public through a SPAC merger in 2020, has approximately 3,300 employees spread across 12 locations worldwide, and serves merchants across more than 120 countries.

In its 2022 results, the company reported it had achieved a total revenue of $1.5bn and processed $130bn in volume, driven partly by its acquisitions of LatAm payment providers SafetyPay and PagoEfectivo. Bruce Lowthers stepped in as CEO in May 2022. In March 2023, the company withdrew its payment processing support for Binance, citing regulatory pressures surrounding cryptocurrencies . 

www.remitly.com

CEO: Matt Oppenheimer

Customer focus: Remittances, Consumers

Based in Seattle, US, Remitly enables international money transfers across more than 75 currencies via its remittance service and mobile app. Since its IPO in 2021, the company has built its global disbursement network with a focus on immigrants, and as of year-end 2022 serves more than 4,300 corridors across 170 countries; around four billion bank accounts and 1.1 billion mobile wallets; and more than 435,000 cash pickup locations. 

Remitly has seen revenues rise faster than other much larger remittance players, with a 41% rise to $191m in 2022 , but is still chasing profitability. The company recently announced it was closing Passbook, its digital banking product designed for immigrants, to focus more on remittance customers. It also completed its acquisition of Israel-based remittances platform Rewire in January 2023. 

www.stonex.com

Founded: 1924

CEO: Sean O’Connor

Customer focus: Corporates, Fintechs, Financial Services, Non-Profits

Headquartered in the US, StoneX is a financial services organisation providing foreign exchange and cross-border payment services to businesses and organisations. It serves more than 32,000 payments clients and more than 330,000 active retail accounts across 180 countries. One of StoneX’s key capabilities is in emerging markets, for which it serves many top-tier banks.

In its FY 2022 results, StoneX reported revenues had increased by 55% to $66bn. The company recently expanded its commodities trading business through its acquisition of Cotton Distributors, and also expanded into Asia with a new institutional credit offering in July 2022. 

www.visa.com

Founded: 1958

CEO: Ryan McInerney

Customer focus: Merchants, Financial Institutions, Businesses, Government Entities, Consumers

Based in California, US, Visa is one of the biggest global payments companies in the world, with a card network that spans more than 200 countries and territories across a network of more than 70 million merchant locations. It has around 26,500 employees. Visa’s cross-border payments arm, Visa Direct, facilitates real-time payments for a growing number of fintechs and cross-border payment companies.

Visa saw a 22% increase in full-year revenues to $29.3bn in its FY 2022 results (which the company reported in calendar Q3 2022), as well as $11.6tn in processed payments volume across 192.5 billion transactions. The company appointed new CEO Ryan McInerney in February 2023.

Western Union

www.westernunion.com

Founded: 1851

CEO: Devin McGranahan

In 2006, US-based Western Union shifted its focus from communications to cross-border payments. The company has since become one of the world’s largest remittance players, allowing people to transfer money to over 200 countries and territories online, via an app or from one of 525,000 Western Union agent locations. The company has more than 150 million retail and digital customers. 

In 2022 , Western Union closed the first and second part of its sale of its Business Solutions segment to Goldfinch Partners and The Baupost Group, with the third closing (spanning EU operations) expected to occur in Q2 2023. The company also launched its Evolve 2025 financial inclusion strategy; expanded to new markets, including bringing its digital wallet to Latin America; and announced the departure of long-time CFO Raj Agrawal.

w ww.wise.com

CEO: Kristo Käärmann

Customer focus: Consumers, SMEs, Financial Services

Focus region: Europe, US, APAC

Formerly known as TransferWise, Wise is a money transfer operator allowing consumers to send money to 175 countries across 50 currencies. The company also provides international business accounts for more than 300,000 businesses and has reached 16 million customers worldwide. Since becoming a public company in 2021 , Wise has raised a total of $1.7bn over 13 rounds. 

In the company’s FY 22 results, the company reported that revenues rose 33% to £560m, with money transfers totalling £76bn across the year. By year end it had 67 licences across 44 countries. The company went through a visual rebrand in early 2023, as well as launching instant Chinese yuan sends for WeChat users. In 2022, it launched a new investment feature, Wise Assets, and International Receive, which allows neobanks to receive cross-border payments even if they are not on the SWIFT network. 

www.worldline.com

Founded: 1974

CEO: Gilles Grapinet

Customer focus: Merchants, Financial Services

Focus region: France, Global

Worldline is a French multinational payments company with more than 18,000 employees, operating in more than 40 countries. The business specialises in merchant and transactional services for processing in-store and online payments. Overall, Worldline serves more than one million merchants and over 1,200 financial institutions. The company reported that revenues rose 10.7% to €4.36bn in 2022 , and it also sold its terminals, solutions and services segment just two years after acquiring French payments rival Ingenico. Also last year, the company accelerated expansion through other payment company acquisitions, including controlling stakes of Axepta Italy and ANZ and Eurobank’s merchant acquiring activities in Greece. It also launched a buy now, pay later service in partnership with travel payment provider Fly Now Pay later.

How do these companies’ payments capabilities differ?

Our top cross-border payments companies in this section are independently owned, meaning they are not (at the time of writing) listed on the stock market.

Al Fardan Exchange

www.alfardanexchange.com

Founded: 1971

CEO: Hasan Fardan Al Fardan

Customer focus: Remittances, SMES, Enterprises

Focus region: Middle East, Europe, APAC, LatAm

UAE-based Al Fardan Exchange is a leading foreign exchange and money transfer business, offering cross-border payments and forex solutions, with over 85 branches across the UAE and partnerships with 150 financial services organisations worldwide.

The company recently partnered with Thunes to enable instant payments across 87 countries spanning Europe, Africa, APAC and LatAm. Business and retail customers can make these payments directly to bank accounts, mobile wallets and cash pickup points. 

www.fexco.com

Founded: 1981

CEO: Neil Hosty

Customer focus: B2B Payments

Focus region: Europe, APAC, South America

Ireland-based Fexco processes more than €34bn in transactions across the financial exchange, treasury, digital tax and government-backed financing sectors. It provides solutions spanning currency conversion, international payments, retail FX and asset finance. The company now has over 2,500 employees across 29 countries. It facilitates payments across 130 currencies to 200 countries worldwide, and has more than 3,000 customers. 

In 2022, Fexco provided support to a new venture capital fund launched by Dublin-based venture capital firm Delta with the aim of supporting startups in Ireland. In 2020, the company launched its new research and development hub, which it built with a €21m investment. 

www.mukuru.com

Founded: 2004

CEO: Andy Jury

Mukuru offers cash collections and bank and mobile wallet top-up services, allowing people to send money to Africa from the rest of the world. With more than 10 million customers, the company enables over 100 million money transactions globally. Mukuru has 320,000 pay-in and payout locations, and 42 branches across Africa. 

Through 60 partnerships, the company enables more than 100 brands to provide cash out points. has an established network. It recently partnered with WorldRemit to become its remittances payout partner in territories where it has locations, and has been one of several African remittance players looking to expand services in West Africa . In 2023, Mukuru launched ‘drive-through’ money transfer services in Zimbabwe. 

CEO: Guillermo de la Viña

Customer focus: Remittances, SMES

Focus region: US, Central America, South America, Europe, Africa, Asia

Based in California, US, Sigue provides money transfer, remittance, foreign exchange and international payment services. The company has a large network of locations across the US and covers payouts in over 170 countries. Remittances can be made in person, online or via the company’s app. 

Sigue enables money transfers to 60 countries with hundreds of thousands of payout locations. It has offices in 15 countries with a global operations arm headquartered in London, UK. In 2021, Sigue partnered with MoneyGram to access the money transfer player’s large payments network in the US. 

www.swift.com

Founded: 1973

CEO: Javier Pérez-Tasso

Customer focus: Financial Institutions

Focus region : Global 

SWIFT is the world’s leading provider of financial messaging services, with a payments network spanning more than 11,000 financial institutions across more than 200 countries and territories. The company provides the messaging network that banks use to send payment instructions to other banks worldwide.

In recent years, SWIFT has participated in a number of initiatives to try and improve efficiency and reduce costs of cross-border payments. This includes migrating its payment messaging platform so that it complies with the ISO 20022 standard ; working with the G20 to achieve its goals for enhancing cross-border payments; launching Swift Go, a product targeting low-value payments that is being used by more than 500 banks; supporting the development of central bank digital currencies (CBDCs) and partnering with crypto companies, such as crypto data provider Chainlink.

www.travelex.co.uk

CEO: Richard Wazacz

Customer focus: Remittances, Consumers, Travel Providers

London-based Travelex is a forex company specialising in foreign exchange solutions and cross-border payments for remittances and travel purposes, as well as major banks, travel agencies and hotels. The company operates across 20 countries, and has a growing network of over 900 ATMs and more than 1,100 outlets in airports, major transport and retail hubs, and city centres.

In early 2023, Travelex partnered with American online travel agency Kayak to bolster travel options for customers in the UK and Australia, as well as launching a pre-order FX service through which holidaymakers can fix exchange rates while booking flights. Last year, it partnered with crypto payments infrastructure company Ripple to bring crypto-enabled payments solutions to Brazil.

Corporate.viamericas.com

Founded: 2000

CEO: Paul Dwyer

Customer focus: Consumers, Remittances, Merchants

Focus region: US, LatAm, APAC, Africa

US-based Viamericas provides money transfer, bill payment, processing and top-up services across a payment network spanning 100,000 payout locations in 80 countries. The company supports businesses and merchants aiming to implement international payment services, and enables money transfers to over 2,000 banks and more than 40 mobile wallets.

In years leading up to 2023, Viamericas has partnered with Mastercard and Union Plus to bolster its remittances presence worldwide, and also been involved in the crypto space, having used one of Ripple’s products designed to boost cross-border transaction speeds.

How are these companies competing on price?

Crypto may have seen a downturn last year , but digital currencies remain a hot topic for cross-border payments, with some commentators claiming that distributed ledger technologies (DLT) are making payments faster, easier and more secure. Here are our three picks for the biggest crypto and DLT cross-border payments companies in 2023.

www.circle.com

Founded: 2013

CEO: Jeremy Allaire

Customer focus: Businesses, Financial Services, Crypto Companies

Focus region: US, South America, Europe

Headquartered in Boston, US, Circle is a global finance firm that helps businesses, crypto exchanges and financial institutions store, manage, pay out and accept payments made with digital currencies. It issues the USD Coin (USDC), a US dollar-backed digital currency that is supported on several blockchains and has been the subject of many cross-border payments projects , including supporting MoneyGram with its crypto remittances project . Circle says that since 2017, customers in the US, UK and Europe have been able to send money instantly with no fees or markup on foreign exchange rate. 

Circle has raised a total of $1.1bn in funding over 11 rounds. The company has been working with Mastercard and Visa to help build an interoperable payments network powered by USDC, for which it is continuing to seek other payment partners. Since June 2022, the company has been working to launch its new Euro-pegged stablecoin, Euro Coin (EUROC), across various crypto exchanges, including Bitso and Coinbase. 

CEO: Brad Garlinghouse

Customer focus: Businesses, Financial Services, Crypto-Native Companies

Founded in Canada and based in the US, Ripple gives businesses and financial institutions access to a blockchain-based digital payment network, as well as issuing the cryptocurrency XRP. Through its services, businesses can enable crypto services such as remittances and SME payments, as well as mint and manage new CBDCs. The company is expanding quickly, with more than 800 employees across 15 global offices. Its products are used by customers across more than 50 countries. 

Since the start of 2022, Ripple has enabled crypto-powered money transfer and payment services for a number of companies, including Germany-based retail group Lunu, Thailand-based remittance provider DeeMoney and B2B payments provider Modulr. It is continually building ‘RippleNet’ – the company’s network of providers enabling cross-border payments globally. In April 2023, the Central Bank of Montenegro became the latest company to announce a plan to test a CBDC in collaboration with Ripple.

www.stellar.org

CEO: Denelle Dixon

Customer focus: Money Transfer Companies, SMEs, Large Enterprises

Stellar is a decentralised network for sending cryptocurrencies to accounts around the world. It is being developed by the Stellar Development Foundation (SDF) with the aim of creating a stable financial network that exists outside global economies. The SDF is building technology to help payments companies create crypto-powered payment and money transfer services. Stellar powers crypto remittances for money transfer companies, including MoneyGram, which introduced the ability to convert crypto into cash (and vice versa) using the Stellar platform in June 2022. As of Q4 2022, the company had more than 7.4 million customer accounts, while total operations processed on the network surpassed one billion in Q4 2022. In 2023, the company is looking to scale its system further and improve its wallet building tools for developers, amongst other priorities.

How do cryptocurrency remittances compete on price?

We distinguish private equity-owned companies from those that have received venture or growth financing, in part because they are generally more established, long-running businesses. Here are FXC Intelligence’s top cross-border payment picks that are backed by private equity investors in 2023.

Banking Circle

www.bankingcircle.com

CEO: Anders la Cour

Customer focus: SMEs, Large Enterprises, Merchants, Banks, Payment Businesses

Headquartered in Luxembourg, Banking Circle provides financial institutions with direct access to clearing and payment schemes in multiple countries, allowing them to provide low-cost cross-border payment services. As of October 2022, it facilitates payments across up to 25 currencies for more than 250 financial institutions worldwide. The company also has offices in the UK, Germany and Denmark. 

In October 2022, Banking Circle reported that it was settling more than 10% of B2C ecommerce flows in Europe (based on market sizing figures from Worldpay’s 2022 Global Payments Report). In July 2022, it added USDC to its payment services in response to higher demand for cryptocurrencies at the time. More recently in February 2023, Banking Circle launched a new Agency Banking service to give clients faster access to the European payments market. 

www.convera.io

CEO: Patrick Gauthier

Customer focus: B2B Payments, SMEs, Large Businesses, Fintechs, Financial Services

Convera provides FX risk management, international payments and education payment services to over 30,000 customers, spanning more than 140 currencies and over 200 countries and territories. It has over 60 global banking partners and claims to be the largest non-bank global B2B payments platform. 

Formerly Western Union Business Solutions, itself formed from the acquisitions of Custom House in 2009 and Travelex Global Business Payments in 2011, US-based Convera was formed in 2022 from a $910m private equity buyout from parent Western Union. The company is focused on customers across B2B, B2C and C2B, but (as our piece on Forbes discusses ) Convera’s CEO Patrick Gauthier is pursuing the fragmented B2B market as a strong growth opportunity. 

Currencies Direct (TorFX)

www.currenciesdirect.com

CEO: Antony Jenkins

Customer focus: Consumer, SME

With more than 20 branches worldwide, UK-based Currencies Direct has facilitated international money transfers for more than 425,000 people. It currently enables money transfers to 120 countries across more than 40 currencies. Money transfers amounted to more than £7.5bn in 2022. 

In March 2022, the company received a £140m investment from alternative asset investment manager Blackstone. Currencies Direct is one of few players of scale left that serves the high-touch, higher end consumer money transfer segment. It owns a number of other money transfer/payments brands, including TorFX.

equiniti.com

CEO: Paul Lynam

Customer focus: SMEs, Large Corporates, Public Organisations

UK-based EQ Global is a global financial services company serving shareholder, pension and credit technology to businesses across manufacturing, retirement and a range of other industries. It owns EQPay, an international payments platform that allows companies to make payments across 130 currencies to over 180 countries, and has processed at least £300bn to date. Overall, EQ has more than 6,000 employees worldwide and claims that its services benefit 36 million people worldwide.

In March 2023, EQ combined three of its businesses (EQ Credit Services, EQ Riskfactor and EQ KYC Solutions) to form Lenvi, a fintech specialising in B2B, consumer and commercial lending solutions. Last year, it replaced its CEO for the Americas region, shortly after EQ was acquired by affiliates of the Sirius Capital investment group in December 2021.

www.lumonpay.com

CEO: TBC (Former CEO Shamus Hodgson departed April 2023)

Customer focus: Consumers, SMEs, Financial Institutions

Known as Foreign Currency Direct until a 2021 rebrand, UK-based Lumon specialises in international money transfers, FX risk management and international payments services for businesses and financial institutions. In 2021, the company served 53,000 clients, made over 112,500 payments totalling over £3.3bn, and grew to more than 150 employees. The company has offices in the UK, Ireland, Spain and Portugal. 

In Lumon’s 2022 results , the company reported 27% revenue growth to £26m, driven by its corporate division and customer growth from acquisitions over the last five years, which include NU Currencies, Infinity International, Earthport FX and Pure FX.

www.moneycorp.com

CEO: Mark Horgan

Focus region: Europe, Americas, APAC, Middle East

Years in Top 100 Map: 5

Moneycorp is an international payments company with headquarters in the UK. It provides corporate and personal money transfer services across 120 currencies and more than 190 countries, as well as FX risk management solutions. According to figures from 2021, the company traded £38bn in currencies that year, with over one million payments sent. 

Over recent years, the company has shifted away from the high-end consumer and travel money segments to re-focus on B2B payments and its Fedwire business. MoneyCorp has also been continuing its expansion, opening a new office in Paris in September 2022, having previously acquired banking licences in Canada, Spain, Romania, the US, Brazil and Gibraltar.

www.moneygram.com

Founded: 1940

CEO: Alex Holmes

Tracing its roots back to 1940 as Travellers Express, MoneyGram has since become one of the biggest money transfer companies in the world with one of the largest cash payout networks globally. More than 150 million MoneyGram customers send money online or at one of more than 380,000 locations to more than 200 countries. 

In February 2022, MoneyGram agreed to be taken private by private equity firm Madison Dearborn Partners in a $1.8bn deal, expected to close this year. In its most recent results , the company highlighted its progress towards becoming a digital-first company, with digital’s average share of total money transfers being 44% across the whole year. The company is also partnering with Stellar on crypto remittance services and is currently sponsoring Formula 1 team Haas F1. 

Small World

www.smallworldfs.com

CEO: Khalid Fellahi

Customer focus: Remittances, Businesses

Focus region: Europe, Americas, Africa

London-based Small World is a provider of international payment services for consumers and businesses. The company enables customers across more than 60 countries to send money to over 180 destinations worldwide, with cash payouts available across 360,000 pickup locations. Overall, the company facilitates more than 15 million transactions annually, and has more than 1,000 employees across offices in 19 countries. After the announcement that it was being acquired by private equity firm Equistone Partners Europe in 2018, Small World FS acquired French international payments firm MoneyGlobe in 2020. Original founder and CEO Nick Day was replaced by Khalid Fellahi as CEO in March 2022.

Get in touch to find out how FXC Intelligence’s pricing, strategy and market sizing data can help your business

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Should You Use Buy Now, Pay Later Services for Travel?

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Table of Contents

The problems with using buy now, pay later to book travel

When buy now, pay later services make sense, the bottom line.

Buy now, pay later services are an increasingly popular way to purchase products online. These services often target young shoppers through social networks and promote the ability to purchase products like clothing or makeup via a small down payment followed by installment payments to cover the difference.

But it’s not just physical stuff that you can click to buy and pay in full later. Travel providers have jumped on the trend by partnering with these services, which include Affirm and Uplift, to let you fund your vacation in small payments — sometimes even after you’ve finished the trip.

Affirm began partnering with Vacasa vacation rentals in February 2021 and then American Airlines in October 2021. Afterpay lets you use its service when you book through online travel agencies Klook and Agoda, and you can even order tickets to the Broadway musical "Hamilton." United Airlines flights can be paid for later through Uplift.

Payment plans to cover vacations aren’t new. Charging your vacation to credit cards was an option before these services began, and many travel agencies have long offered payment plans. Buy now, pay later payment options are the shiny, technology-based version of payment programs like layaway or deferred interest.

“ Buy now, pay later ” services can be handy in some circumstances, but there are drawbacks to taking on this kind of debt.

They make travel seem cheaper than it really is: Breaking down one big payment into multiple, smaller payments can make a purchase seem more affordable than it is and perhaps is psychologically satisfying. But adding up all the payments can end up the same, or sometimes even more due to interest, than the full quoted cost.

For example, a two-bedroom Vacasa vacation rental for a three-night stay cost $1,399. But Affirm markets it as six monthly payments of $233.

You might scoff at lodging expenses for a three-day weekend that may be more than a month’s rent. But don’t be fooled when you see the $233 offer — you’re still paying the $1,399, just not all in one go.

It’s usually not a good way to build credit: Sezzle proudly proclaims that it has “zero impact on your credit.” Afterpay advertises that it doesn’t conduct credit checks.

“We don’t believe in preventing people from accessing Afterpay because they may have had an old debt from a long time ago. And we don’t believe that missing a payment with Afterpay should result in a bad credit history,” according to a company statement.

While that notion has its merits, it does mean that people who might already have a history of debt are getting access to loans that they might be unable to pay off — in turn digging them into deeper debt.

In fact, Afterpay doesn’t affect your credit scores, period, so even a pristine, on-time reputation won’t help your scores. Had you paid on time through a traditional credit card, that information would be reported to the three credit bureaus and likely help your credit .

You could end up owing more than you thought in interest: Some services charge fees. Affirm typically charges interest on longer loans, but won’t charge fees on shorter loans. In the previous Vacasa example, you won’t owe interest if the loan is paid off within six months. But if you opt to pay in 12 monthly installments of $116.67 over the course of a year, you’ll also owe Affirm nearly $120 in interest fees. That turns what could have been a nearly $1,400 cabin into a $1,520 cabin.

Most other types of loans charge interest too. In fact, the average interest rate for a co-branded credit card in 2020 was 25.7%, according to data in a 2021 consumer credit card market report from the Consumer Financial Protection Bureau.

There are other fees besides interest: Especially if you already struggle to pay your regular bills or track your expenses, some of these services can make it easy to fall behind on payments and incur high late fees.

Zip, which partners with Airbnb and encourages bookers to split any purchase into four installments over six weeks, charges a $1 convenience fee per installment (so you’d owe $4 to Zip on top of the money you owe Airbnb). If you miss a payment, Zip charges late fees ranging from $5 to $10.

Sezzle doesn’t charge outright late fees but will deactivate your account if you’re two days late. To get your account reactivated, you’ll pay a fee of up to $10. And, if you preemptively delay your payment due date, Sezzle charges a $5 rescheduling fee.

Like many other services, Sezzle makes these fees tough to know about ahead of time. Case-in-point: Sezzle's fees aren't clearly stated on its site, but rather buried within the fine print of its 12,000-word user agreement.

Credit cards can also entail fees, and credit card issuers charged consumers a combined $12 billion in late fees in 2020, according to the CFPB. But the Credit Card Act of 2009, intended to protect cardholders, heavily regulates such fees by limiting how high those fees can go. And in most cases, buy now, pay later loans aren’t subject to the same consumer protections that apply to credit cards.

» Learn more: The best travel credit cards right now

You might pay less in interest or fees versus other forms of debt: Many of these services allow you to pay off purchases down the road without paying compounding interest, which you’ll typically owe with other forms of debt you take on. Unless you’re taking advantage of a 0% APR offer on a credit card , that includes most credit card debt, too.

You have poor credit or are credit invisible, and it’s a necessary expense: Maybe you have poor credit. Perhaps you’re great with money but are credit invisible , meaning your credit history isn’t long enough to have generated a credit file. (This situation is common among young people and recent immigrants.) While most of these services won’t help build your credit, they can help if you need to make a purchase that you can’t pay in full now.

It’s a necessary expense: Maybe you have a sick relative and you need to jump on a plane to care for them. Perhaps your house needs emergency repairs and you’ll need to stay in a hotel, but your homeowners or renters insurance won’t cover the upfront cost. If your travel expense is necessary, then buy now, pay later services can serve people with few to no other options.

Buy now, pay later services can be a lifesaver when you’re in an emergency situation and you’ve exhausted other options. They can also serve to cushion your savings account if you’re booking a trip that you know you can afford, but want to hold cash as long as possible.

But in general, there are far too many gotchas in these services to make them worth recommending for most travel purchases.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee:   Bank of America® Travel Rewards credit card

Flat-rate travel rewards:  Capital One Venture Rewards Credit Card  

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

1.5%-6.5% Enjoy 6.5% cash back on travel purchased through Chase Travel; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

$300 Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

on Capital One's website

2x-5x Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options.

75,000 Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.

Home > Resources > Articles > Checkout 25 Travel Management Companies Transforming Industry in 2023

Checkout 25 Travel Management Companies Transforming Industry in 2023

#businesstravel.

Pranav Mulaokar | May 17, 2023 | 2983 views | Read Time: 11:24 min

1 Expertise in Field

2 being more organized, 3 making informed decisions, 4 enhanced networking, 5 expense management, 6 business travel support, top 25 revolutionary travel management companies.

Tauck is the world-leader in upscale, escorted travel. The company leverages its 90 years of experience to deliver over 125 distinctive and enriching land journeys, small ship cruises, river cruises, safaris, Tauck Bridges family travel adventures and immersive Tauck Culturious trips designed for “culturally curious” boomer-age travelers.

OTHER ARTICLES

Business Travel

Smart airports: hassle-free air travel & revenue.

Article | June 3, 2021

Airports are embracing data and technology to improve the experience for both passengers and vendors. Such ‘smart airports’ where internet-connected devices control functions like thermostats and security using cloud-based technologies to enhance the consumer experience, are quickly becoming commonplace. The Emergence of Smart Airports Smart Airports were made to solve control and management problems that airports are having more and more of because of the number of people and goods that go through them. Because of this, experts from all over the world are focusing on smart airports, which use the latest developments in telecommunications, infrastructure, robotics, and the Internet of Things (IoT). Advantages of Smart Airports Real-time data improves operational efficiency. Cost reduction, productivity improvement, and operational perfection. Demand optimization through passenger flow control and entry automation. Improved passenger handling, flight control, check-in, etc. Biometric monitoring systems, advanced cyber security, and reliable operations and maintenance improve surveillance and security. Better ground and health surveillance (cleaning frequencies, availability of amenities, etc.). The Revenue Angle A smart airport uses Wi-Fi access points as sensors to track passengers’ location and record their dwell times. With this data, the airport could place signs and ads where they would be seen. While landing travelers previously made few purchases, this airport placed signs for products they may want to buy before leaving where they would be seen. The result was increased sales for retailers and landside revenue for the airport operator. (Source: Deloitte Study) Traveler’s & Airport Operations Experience A traveler constantly interacts with technology systems and stakeholders during his journey through the airport. The smart airport systems influence the traveler’s safety, convenience, and overall experience at the airport. Operations like bag tracking, indoor navigation, in-store beacons, geo-fencing, queue analyzer, biometric screening, Wi-Fi passenger tracking, and building management systems are powered by IoT implementations that make an airport smart. Creating a Smart Airport: The Checklist A well-structured planning process can assist airport leaders in navigating all of the options and gaining confidence in achieving the airport's business objectives. The checklist includes the following steps: Selecting an IoT solution that aligns with your business goals Determine the organizational and technical abilities required to implement the solution Craft a road map to address gaps between the required abilities and existing abilities

Travel Technology, Business Travel

Ai-driven baggage screening solution for aviation security.

Article | July 20, 2022

Aviation security gets a new face with an AI-driven accessible screening solution that is a part of Project Dartmouth, a collaboration between tech company Pangiam and Google Cloud. This solution uses artificial intelligence and pattern analysis technologies to analyze vast amounts of data. All this analysis happens in real-time to identify potentially prohibited items in carry-on baggage to prevent coordinated terrorist attacks so that security agencies can take swift action against perpetrators. The Transportation Security Administration (TSA) is currently using this solution on a trial basis. Threat Detection with Project Dartmouth Pangiam uses state-of-the-art edge computing with Google Cloud’s AI and ML at the frontline. These cloud-trained AI models run at the edge to speed up the process of threat detection. In addition, using edge computing ensures that there is no concern around network latency and that the solution functions when a network is disconnected. Achieving aviation security becomes easy with this solution because it uses specialized algorithms to analyze data and patterns within the data. It replicates human intuition to detect items that may look suspicious to a human. The solution harnesses Aggregated Threat Detection (ATD) software that detects coordinated threats spread across multiple checkpoints, bags, and lanes. For example, the threat could be a weapon that needs assembling with its parts spread across multiple points. In this case, the solution offers a national protective security capability to alert security agencies. Pangiam’s platform collates data from any OEM anywhere using its API approach. What does Project Dartmouth Mean for Aviation Security? Safer and Improved Passenger Experiences Dartmouth’s AI and ML capabilities deliver the changed security measures to travelers seamlessly, so their travel experience is not disturbed, nor is their security jeopardized. Enhanced Security Measures Using this AI and ML-based solution that replicates human intuition, no item that looks suspicious passes the security check. The aggregated threat detection software enhances the ability to detect complex, coordinated attempts to breach security. Refined Operational Efficiency Automated threat detection software lightens the load on security officers so they can focus on examining baggage alerts. Additionally, airports can utilize their real estate for something more constructive. Future of Aviation Security with AI and ML AI and ML enabled tools can streamline some of the security processes and ensure that passengers safely pass through each security checkpoint. Agencies and security personnel can also handle traveler load without breaking any protocols. AI-enabled security systems continually learn, evolve, and make aviation security robust. They will continue to be an important part of the security process.

How Best Practices for Travel Expense Management Can Benefit your Business

Article | December 16, 2020

As every department is going through digital transformation in travel companies, finance processes are no exception. The advancements in technology are influencing how travel expense management is evolving. Technology is widely affecting how travel expenses are captured, submitted, audited, processed, and reimbursed. The automated travel expense management is helping most of the corporate travel companies with inclusion of the latest travel management and expense management tools. In 2016, the share of corporate travel expense management was US$1.3 trillion; therefore, by 2023, it is predicted to hit US$1.6 trillion. Companies today are rethinking modern travel expense management policy and developing corporate travel expense management system including expense management best practices. They are actively using travel management and expense management tools to create a smoother workflow. Looking at these developments in expense management policy, it’s important to understand what companies were facing before implementation of automated version of expense management system. Main Hurdles While Managing Travel and Expense Policy violations Multiple layers of forms Delayed submission of expense reports by employees Increased processing cost Lack of visibility into the process Heaps of productive hours were wasted because of the manual processes involved in the expense management policy. Managing the excel reports and cross-verification for policy compliance resulted in increased costs. Delayed submission of expense reports caused late input tax credit claims, which affected businesses to generate revenue. Consequently, to minimize the hurdles of managing travel expenses, an automated travel expense management system, and some best practices for travel expense management were the need of the hour. An Overview: Modern Travel Expense Management Modern travel and expense management systems and its practices help employees manage the financial process in real and measurable ways. The system governs how the finance team spends company money on corporate travel and other related expenses. It includes an automated expense management process, which has drawn attention to seamless receipt generation, auditing, reimbursing, submission of finance reports, and cost savings. To implement modern travel expense management, some best practices for travel expense management are suggested to help build a consistent workflow. Many corporate travel companies have included it to automate the expense management process but are little aware of practices that can enhance their workflow. In this scenario, it's important to know the importance of including the best practices for travel expense management. Why Talk about Best Practices for Travel Expense Management? In the finance department, various types of frauds such as multiple reimbursements, overstated expenses, fictitious expenses, and more always stay at the top of the mind for most CFO’s. A well-controlled travel expense management system helps prevent misuse of company assets and prohibits misconduct from dealing with such situations. According to the Aberdeen group’s research, 43% of top travel companies and their CMOs consider T&E management a critical strategy for their company to handle travel expenses. In comparison, 48% of them say they “need to reduce expense processing costs,” which is why they implemented best practices for travel expense management. Whether large or small, companies realize the potential benefits of a well-managed travel spend mechanism that had best practices for travel expense management to automate the expense management process. They invested heavily in expense management software, which helped them frame a consolidated expense management policy. In the end, corporate travel policy best practices need to be tailored specifically to employees to create best-in-class expense management and improve performance. By following expense management best practices, you can also define and implement an accurate policy and ensure your employees implement potential tools to automate the expense management process. This will create an efficient finance process that will lead to a friction-free travel and expense management system. If you are updating your finance functions, this small expense management guide to the best practices for travel expense management will help you far to reach your goals. Best Practices for Travel Expense Management Create Ownership of the Policy Before you start implementing T&E management as a critical strategy, defining ownership of the policy clearly is crucial. Ideally, your finance team needs to understand it thoroughly while using the best expense management software. Creating ownership of the policy will benefit as follows: First: You will have clear ownership that will ensure that your finance team tracks the policy accurately and makes necessary changes to cater to corporate travelers and their requirements. Second: Your employees will be able to address queries and concerns related to corporate travel a defined way. This way it will become easier for them to handle multiple queries at a time and cater to possible services. Include Simple Policies Your expense management policy should outline what it is accurately. It can only be practiced if you keep policies simple based on the company’s culture and its budget. Using the right travel management and expense management tools, your company’s travel expense management mechanism will be quick and easy for employees to work on expenses claimed by corporate travelers, submit, and audit them. Including simple policies will help employees track receipts through mobile applications and even upload them immediately. This entire process will help minimize errors and lessen receipt loss possibilities. Accurate Expense Reporting To include accurate expense management reporting is considered one of the most successful best practices for travel expense management. Around 30% of CFOs believe that to review expenses reporting for policy violation is the biggest pain point. As you automate the expense management process, the mechanism of expense reporting and expense claim management also gets smarter. There are multiple benefits to have a sound reporting system. It gives budget creators a better understanding of how a specific travel expense budget is consumed. Finance teams get a proper structure and create a defined spending pattern to identify transactions so that there are no fraud possibilities in the management system. The reports under expense reporting become accountable because the total spends are available to senior management for a broad review. Expense Payments Are Timely Processed The right expense management software usage can help your employees process expense payments on time and faster to reduce errors. By implementing this expense management best practice, your employees can present expense reports timely to managers. An automated expense management system eliminates the tedious job of manually checking expense payment violations and encourages initiating flawless expense payment processing. Creates Accountability To keep accountability in expense management is vital for a finance manager. The automated travel and expense management system creates an opportunity to enable accountability option for your company’s expense plan so that managers are made aware of the transactions, submission of reports, expense claims, reimbursements, and more that are taking place. In order to gain high accountability in these areas, the new travel expense management process provides easy access to review and gives appropriate reports. You can easily implement this corporate travel policy best practice to your system and keep a check using expense management software that provides access via mobile applications. Practicing this will give your finance team more power and guide them to generate better revenue annually. Conduct Regular Audits By implementing this as best practices for your travel and expense management, you can efficiently conduct regular audits of the travel expense. Many CMOs have followed it and attained success while implementing it. Similarly, a regular audit also identifies areas of improvement and can point variances that could generate exemplary revenue. Practicing this in your finance process will also help uncover expense fraud. In this case, the Association of Certified Fraud Examiners’ (ACFE) reveals, 20% of small businesses and 13% of larger firms reported fraudulent expense reimbursements in 2019. The activities that were highlighted as Access expenses Non-characterized expenses Fictitious expenses Multiple reimbursements for the same expense After putting your time and effort into recreating a new travel and expense management system and inculcating best practices for travel expense management in your company, it is crucial to choose the right ways to enforce it. Consistent use of best practices for travel expense management will let you save costs, and there will be no adverse impact on your company's budget. You can make effective decisions for your business as it eradicates your finance team's hurdles that were before. Frequently Asked Questions What is a travel and expense policy? A travel and expense policy is a set of rules that covers the process of reimbursement and claims for expenses that are incurred by employees on corporate travel plans. This policy outlines how a company’s employees should set procedures for corporate travel. What is business travel management? Business travel management includes policies that set a company’s function in a strategic way. It includes various types of contracts made with airlines, hotel chains, rental car companies, and other business travel related management services. What is expense management? Expense management works according to two key elements—how a business pays for employee-initiated expenses and how to track all employee-initiated spending. In this, management of costs is included mainly for corporate travel, accommodation, meals, flights, and car rentals. What is expense management automation? Expense management automation encourages services like collection, storage, submission, reporting to function automatically. It implies the use of analytical tools to help companies maintain accountability and compliance through accurate tracking and reporting process. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is a travel and expense policy?", "acceptedAnswer": { "@type": "Answer", "text": "A travel and expense policy is a set of rules that covers the process of reimbursement and claims for expenses that are incurred by employees on corporate travel plans. This policy outlines how a company’s employees should set procedures for corporate travel." } },{ "@type": "Question", "name": "What is business travel management?", "acceptedAnswer": { "@type": "Answer", "text": "Business travel management includes policies that set a company’s function in a strategic way. 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Commercial Travel

3 travel preparation tips for your holiday trip.

Article | May 31, 2022

A holiday abroad is an exciting experience, a chance to be in a new place where you can enjoy the sights and food, and have that much-needed break you need. Whether you are off to visit family or friends or plan to embark on an adventure as a tourist, holidays are the best way to leave work behind for a while and do something nice for yourself. With all the hard work you have been doing, you deserve a break. Going on a trip also takes careful preparation to ensure that everything goes according to plan. If you start preparing in advance, you can cover all the details and relax while away, knowing everything is in place. It is also best to get travel insurance. With it, you provide yourself with coverage against certain travel risks like cancellations, missing luggage, and medical expenses, should you require them while away from home. Of course, it is always best to be safe than sorry, and details like this reduce stress and keep you prepared for anything on your holiday. Below are some travel preparation tips for a stress-free and enjoyable holiday. Try to travel light Travelers find it challenging to pack for a trip. We tend to take extras along with us, fearing that something could come up and we might need certain items. However, it is always better to pack light, as long as you have the essentials with you. Avoid over-packing and stick to the necessities for a less stressful vacation. If you are flying to your destination, have your travel documents organized and in your possession at all times. Find out what the weather is like where you are going and choose suitable clothing to pack. Be prepared for anything You never know what can happen during a holiday trip. You may encounter a few snags such as delays, a change of weather conditions, closed roads, etc. So, prepare for unexpected situations and know what to do if they happen. Furthermore, arriving hours earlier than your flight at the airport keeps you relaxed, which you should be since it is your holiday. If security lines are long and time is of the essence, being there early helps you take it easy rather than rush to reach your flight on time. Book your flight as early as possible Ensure that you get to leave on your preferred dates by booking your flight as early as possible. There have been a few changes in many airline companies where people can quickly make cancellations and other changes. Additionally, there is now limited seating in planes. This means that they fill up the seats faster. Apart from booking your flight in advance, it would also help to book hotel accommodations and other planned activities early on. A holiday is even more enjoyable when you have planned everything out. Make the necessary preparations so when you get to your destination, all that's left to do is relax and enjoy your vacation.

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Auberge resorts collection announces strategic partnership with bdt & msd partners.

PR Newswire | February 02, 2024

The Friedkin Group announced today that the company has entered into a strategic partnership with BDT & MSD Partners ("BDT & MSD"), a merchant bank built to serve the distinct needs of business owners and strategic, long-term investors. BDT & MSD, through its affiliated hospitality investment vehicle, will make a minority investment in Auberge Resorts Collection, the manager of the award-winning portfolio of luxury hotels, resorts, residences and private clubs set in some of the world's most desirable locations. In addition, BDT & MSD's hospitality vehicle intends to invest significant capital towards acquiring and developing luxury hotel and residential assets that will be branded and managed by Auberge Resorts Collection. The partnership reflects BDT & MSD's belief in Auberge Resorts Collection's unique brand positioning and focus on creating one-of-a-kind luxury hospitality experiences. The investment will support Auberge's continued strategic growth in the Americas, Europe and beyond, with a focus on gateway urban markets and high-profile experiential destinations. "This partnership further solidifies Auberge Resorts Collection's position as the leading name in boutique luxury hospitality and marks a new and exciting era for our world-class portfolio," said Dan Friedkin, chairman of Auberge Resorts Collection and chairman and CEO of The Friedkin Group. "BDT & MSD's differentiated, long-term capital and expertise in luxury hospitality investments makes them a perfect strategic partner and will allow us to further grow the strength of the Auberge brand." "Auberge is a world-class manager of distinctive luxury hotel properties, with an exceptional track record of delivering curated guest experiences in the world's leading hospitality markets. We are excited to be a part of its future and look forward to partnering with Auberge's talented team to build on its differentiated strengths and accelerate further growth," said Coburn Packard, partner & head of real estate at BDT & MSD. Since becoming part of The Friedkin Group in 2013, Auberge Resorts Collection has grown into the leading name in boutique luxury hospitality, comprising 27 unparalleled properties across the U.S., Latin America and Europe, with a development pipeline of over a dozen hotels and two additional hotels planned to open in Florence and South Carolina this year. While each property is unique, all share a crafted approach to luxury and bring the essence of the location to life through one-of-a-kind design that reflects the destination, exceptional cuisine and dining experiences that attract both the local community and global traveler, innovative spas and wellness retreats and highly personalized service.

My Place Hotels of America Opens My Place Hotels-Idaho Falls, ID

PR Newswire | January 25, 2024

My Place Hotels of America has officially opened My Place Hotels-Idaho Falls, ID, in Idaho Falls, ID. This marks the 70th open and operating My Place property nationally. Guard Hospitality manages the property, which is owned by MP Idaho Falls and was developed by Legacy Builders. The 64-key property is pet-friendly and offers many amenities, including complimentary high-speed Wi-Fi, onsite laundry, a grilling station, and a 24-hour grab-and-go store stocked with food, beverages, and other necessities. Each guestroom includes a full kitchen and coffee maker. The property sits just minutes from the heart of historic downtown Idaho Falls and is adjacent to the new Snake River Landing Development. Idaho Falls is the largest city East of Idaho's capital, with an estimated population of approximately 64,000 people. The city serves as the commercial, cultural, and healthcare hub for Eastern Idaho, Western Wyoming, and Southern Montana. Idaho Falls' location in the greater Bonneville County is often referred to as the "Gateway to Yellowstone Park" due to its proximity to one of the nation's most popular national parks and its own recreational activities. My Place Hotels-Idaho Falls is also the official hotel partner of the Idaho Falls Spud Kings, one of the newest franchises in the United States Premier Hockey League (USPHL)'s Tier 3 Mountain Division, and is minutes from Mountain America Center, where the Spud Kings play. "We were very excited to see My Place Hotels-Idaho Falls officially open its doors at the end of 2023," stated Ryan Rivett, co-founder and CEO of My Place Hotels. "This property boasts an incredible location, and we are confident that our robust offerings will distinguish us in this dynamic market. As we look forward to additional openings in 2024, we are eager to leverage our momentum to expand our presence with a focus on strategic growth."

Sonesta Announces First Sonesta Es Suites Ground Up Development

PR Newswire | January 24, 2024

Sonesta International Hotels Corporation (Sonesta) today announced plans for the construction of a new Sonesta ES Suites in Port Charlotte, Florida. This new property, expected to open in Spring 2025, marks the first Sonesta ES Suites brand project developed from the ground up. "We are excited that Sonesta ES Suites Port Charlotte will be our first purpose-built location for the brand," said Brian Quinn, Sonesta's Chief Development Officer. "The Sonesta ES Suites brand stands out as an attractive choice for franchisees looking for an upscale option to capitalize on the continued dependable performance of extended stay hotels." "Sonesta ES Suites Port Charlotte will benefit business travelers and tourists who are looking for accommodations near the beaches, golf courses, parks and other attractions that Port Charlotte has to offer," said Alan Lane, one of Sonesta ES Suites Port Charlotte's owners. "The addition of Sonesta ES Suites Port Charlotte to our diverse portfolio reflects Commonwealth Hotels' unwavering commitment to providing an unparalleled guest experience through visionary development, ethical practices and a steadfast dedication to superior service," said Jennifer Porter, President of Commonwealth Hotels, the hotel's management company. To be located at 1321 Claburn Circle in Port Charlotte, Florida, the Sonesta ES Suites Port Charlotte will be an upscale extended-stay hotel spanning four floors and offering 117 rooms with amenities including breakfast and dining services, an outdoor pool, fitness room, market pantry, guest laundry, onsite parking and more. The location of the new hotel is close to over 20 colleges and universities, two hospitals, more than 70 parks and recreational spaces, more than 12 miles of beaches, 14 golf courses and numerous other attractions. Guests of this location will be able to earn or redeem points in the award winning Sonesta Travel Pass loyalty program.

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Financial Services Companies in America

1-25 of 1,668 results

JPMorgan Chase & Co.

New York, NY •

270 PARK AVE

• • Rating 4.22 out of 5   195 reviews

Experienced Employee: Chase is a very good employer and has been my longest held job. The benefits and pay are extremely generous and they make it easy to sign up for health insurance and their 401k's. I am happy working with this company however banking is not in my heart and I want to join a career I am passionate about. ... Read 195 reviews

Industry: Financial Services

Employees: 10,000+

270 PARK AVE ,

NEW YORK, NY ,

195 Niche users give it an average review of 4.2 stars.

Featured Review: Experienced Employee says Chase is a very good employer and has been my longest held job. The benefits and pay are extremely generous and they make it easy to sign up for health insurance and their 401k's. I am happy working... .

Read 195 reviews.

Industry : Financial Services ,

Employees : 10,000+ ,

Wells Fargo & Company

San Francisco, CA •

420 MONTGOMERY ST

• • Rating 4.15 out of 5   305 reviews

Experienced Employee: Wells Fargo as been transitioning in the past few years. It is apparent that they are becoming more focused on their bottom dollar than employee wellness. They have been making it harder and harder to stay employed so they recently gave everyone a pay increase, most likely to incentivize people to stay with the company, however, it is not enough when other other companies are paying similar wages or sometimes even more. ... Read 305 reviews

420 MONTGOMERY ST ,

SAN FRANCISCO, CA ,

305 Niche users give it an average review of 4.2 stars.

Featured Review: Experienced Employee says Wells Fargo as been transitioning in the past few years. It is apparent that they are becoming more focused on their bottom dollar than employee wellness. They have been making it harder and harder... .

Read 305 reviews.

Capital One Financial

Mclean, VA •

1680 CAPITAL ONE DR

• • Rating 4.39 out of 5   51 reviews

Intern / Student Worker: The dynamic environment challenged me to think critically and make informed decisions swiftly. I learned to navigate complex financial data, collaborate effectively with teams, and communicate with clients. Capital One's commitment to innovation and excellence fostered a culture of continuous learning, pushing me to grow both personally and professionally. I'm grateful for the opportunities and experiences that have shaped me into a more skilled and confident individual. ... Read 51 reviews

1680 CAPITAL ONE DR ,

MCLEAN, VA ,

51 Niche users give it an average review of 4.4 stars.

Featured Review: Intern / Student Worker says The dynamic environment challenged me to think critically and make informed decisions swiftly. I learned to navigate complex financial data, collaborate effectively with teams, and communicate with... .

Read 51 reviews.

• Review your company

Nationwide Mutual Insurance

Columbus, OH •

1 NATIONWIDE PLAZA

• • Rating 4.44 out of 5   34 reviews

Experienced Employee: Many things I love about this company is that they help you to grow and they promote work life balance ... Read 34 reviews

1 NATIONWIDE PLAZA ,

COLUMBUS, OH ,

34 Niche users give it an average review of 4.4 stars.

Featured Review: Experienced Employee says Many things I love about this company is that they help you to grow and they promote work life balance .

Read 34 reviews.

Farmers Insurance Group

Los Angeles, CA •

4680 WILSHIRE BLVD

• • Rating 4.5 out of 5   40 reviews

Entry Level Employee: I love Farmers employees and benefits, but the actually process is horrible. The business practices are bad. I love Famers and I love my job though ... Read 40 reviews

Employees: —

4680 WILSHIRE BLVD ,

LOS ANGELES, CA ,

40 Niche users give it an average review of 4.5 stars.

Featured Review: Entry Level Employee says I love Farmers employees and benefits, but the actually process is horrible. The business practices are bad. I love Famers and I love my job though .

Read 40 reviews.

TD Bank N.A

Cherry Hill, NJ •

357 NORTH KINGS HWY

• • Rating 4.35 out of 5   40 reviews

Senior Employee: Working in retail banking at TD Bank is a rewarding and enjoyable experience. The bank offers a positive work environment and provides ample opportunities for personal and professional growth. TD Bank values its employees and encourages a strong work-life balance. The job allows for direct interaction with customers, helping them with their financial needs and providing excellent service. The bank's supportive team and comprehensive training programs ensure that employees are well-equipped to handle their responsibilities. Overall, working in retail banking at TD Bank is fulfilling and satisfying. ... Read 40 reviews

357 NORTH KINGS HWY ,

CHERRY HILL, NJ ,

40 Niche users give it an average review of 4.4 stars.

Featured Review: Senior Employee says Working in retail banking at TD Bank is a rewarding and enjoyable experience. The bank offers a positive work environment and provides ample opportunities for personal and professional growth. TD... .

Bank of America

Charlotte, NC •

BANK OF AMERICA CORPORATE CENTER

• • Rating 4.14 out of 5   147 reviews

Experienced Employee: Bank of America is a good place. to work. The company provides great benefits, decent pay, and good work and life balance. At the end of the day the good outweighs the bad, making Bank of America a great place to work. Bank of America offers great benefits such as medical, dental, child care reimbursement, and more. The starting role at Bank of America makes twenty three dollars the hour and three weeks of paid vacation. The majority of the roles at Bank of America work from Monday to Friday; however, there are some exception. It can be very repetitive work. There are many regulations to follow which can seem daunting at first. There is a lot of personal risk when dealing with money. But in conclusion, it is a great place to work. ... Read 147 reviews

BANK OF AMERICA CORPORATE CENTER ,

CHARLOTTE, NC ,

147 Niche users give it an average review of 4.1 stars.

Featured Review: Experienced Employee says Bank of America is a good place. to work. The company provides great benefits, decent pay, and good work and life balance. At the end of the day the good outweighs the bad, making Bank of America a... .

Read 147 reviews.

Discover Financial Services Inc.

Riverwoods, IL •

2500 LAKE COOK RD

• • Rating 4.41 out of 5   32 reviews

Experienced Employee: Discover is an amazing place to work. They don’t just care about their employees but also they care very much about your family. They have a fantastic benefits package and all benefits start the same day you do and they provide us agents with 140 hours of PTO on the 1st of January every year. They also give us paid sick days, well-being paid time off and they are always emailing us to remind us to schedule time off and spend time with our loved ones. They don’t want us working non-stop without having time off to take for us and our families. They are constantly active in the community and doing volunteer events that us employees can participate in if we want (Participation is not required). They really do care about their employees and they want us to have a good financial life and future also. It’s great here. ... Read 32 reviews

2500 LAKE COOK RD ,

RIVERWOODS, IL ,

32 Niche users give it an average review of 4.4 stars.

Featured Review: Experienced Employee says Discover is an amazing place to work. They don’t just care about their employees but also they care very much about your family. They have a fantastic benefits package and all benefits start the same... .

Read 32 reviews.

PNC Financial Services Group

Pittsburgh, PA •

300 FIFTH AVE

• • Rating 3.82 out of 5   79 reviews

Entry Level Employee: PNC is a great place to work. The company dedicates resources focused to help employees grow within the company. Pay rates are competitive. Work environment depends on location. I rate it 4 out of 5. ... Read 79 reviews

300 FIFTH AVE ,

PITTSBURGH, PA ,

79 Niche users give it an average review of 3.8 stars.

Featured Review: Entry Level Employee says PNC is a great place to work. The company dedicates resources focused to help employees grow within the company. Pay rates are competitive. Work environment depends on location. I rate it 4 out of 5. .

Read 79 reviews.

American Express

200 VESEY ST

• • Rating 4.4 out of 5   20 reviews

Manager / Director: Working in Product at American Express offers a dynamic and enriching experience that resonates with my passion for innovation and customer-centricity. The company's commitment to excellence, coupled with its global influence, provides an ideal platform to shape groundbreaking financial solutions. Collaborating with diverse teams of experts fosters an environment where creativity thrives, while the emphasis on personal growth through learning and development ensures continuous professional advancement. American Express' unwavering dedication to improving customers' lives aligns perfectly with my own values, making it a truly rewarding journey where I can contribute to meaningful change while realizing my potential in the field of product development. ... Read 20 reviews

200 VESEY ST ,

20 Niche users give it an average review of 4.4 stars.

Featured Review: Manager / Director says Working in Product at American Express offers a dynamic and enriching experience that resonates with my passion for innovation and customer-centricity. The company's commitment to excellence, coupled... .

Read 20 reviews.

Washington, DC •

1201 NEW YORK AVE NW

• • Rating 4.21 out of 5   70 reviews

Volunteer: AmeriCorps was a great experience as I was able to make great relationships with the team that I worked with. They were kind and encouraging. ... Read 70 reviews

Employees: 1,000-9,999

1201 NEW YORK AVE NW ,

WASHINGTON, DC ,

70 Niche users give it an average review of 4.2 stars.

Featured Review: Volunteer says AmeriCorps was a great experience as I was able to make great relationships with the team that I worked with. They were kind and encouraging. .

Read 70 reviews.

Employees : 1,000-9,999 ,

TD Ameritrade

Omaha, NE •

200 SOUTH 108TH AVE

• • Rating 4.77 out of 5   13 reviews

Entry Level Employee: My experience at TD Ameritrade has been amazing. The company truly cares about it's employees and treats people with respect. I have learned an incredible amount of information in the past 7 months about finance and the stock market. ... Read 13 reviews

200 SOUTH 108TH AVE ,

OMAHA, NE ,

13 Niche users give it an average review of 4.8 stars.

Featured Review: Entry Level Employee says My experience at TD Ameritrade has been amazing. The company truly cares about it's employees and treats people with respect. I have learned an incredible amount of information in the past 7 months... .

Read 13 reviews.

Regions Financial Corporation

Birmingham, AL •

1900 FIFTH AVE NORTH

• • Rating 4.11 out of 5   27 reviews

Experienced Employee: For the most part, I have thoroughly enjoyed my time with this company. I have been with this company for 7 years on the consumer banking side. It can be a great, fun, and rewarding job! The company offers great pay and benefits, however, some of their expectations are a bit overzealous in my opinion. With many of the "old-school" personnel retiring off and "new blood" coming in, we are seeing a nice fresh new take on banking. My previous years were hard at times as your felt like you were pushed in those expectations by higher-ups, sometimes to the extreme. Now, many of the new faces are making the job fun again and bringing life back to those of us who have been there for awhile. ... Read 27 reviews

1900 FIFTH AVE NORTH ,

BIRMINGHAM, AL ,

27 Niche users give it an average review of 4.1 stars.

Featured Review: Experienced Employee says For the most part, I have thoroughly enjoyed my time with this company. I have been with this company for 7 years on the consumer banking side. It can be a great, fun, and rewarding job! The company... .

Read 27 reviews.

State Street

Boston, MA •

1 LINCOLN ST

• • Rating 4.25 out of 5   16 reviews

Intern / Student Worker: Amazing place to work. Management is great and hours are wonderful. You learn a lot while there too. ... Read 16 reviews

1 LINCOLN ST ,

BOSTON, MA ,

16 Niche users give it an average review of 4.3 stars.

Featured Review: Intern / Student Worker says Amazing place to work. Management is great and hours are wonderful. You learn a lot while there too. .

Read 16 reviews.

Navy Federal Credit Union

Vienna, VA •

820 FOLLIN LN

• • Rating 4.37 out of 5   30 reviews

Experienced Employee: I love working at Navy Federal! I would recommend any of my friends or family members to work here. The work environment is very welcoming and supportive. Leadership and management make it a priority to invest in their employee’s personal and professional development which not a lot of companies offer nowadays. ... Read 30 reviews

820 FOLLIN LN ,

VIENNA, VA ,

30 Niche users give it an average review of 4.4 stars.

Featured Review: Experienced Employee says I love working at Navy Federal! I would recommend any of my friends or family members to work here. The work environment is very welcoming and supportive. Leadership and management make it a priority... .

Read 30 reviews.

Morgan Stanley Inc.

1585 BROADWAY

• • Rating 4.38 out of 5   13 reviews

Entry Level Employee: I had a good experience. Surrounded by people that are driven, hard working, and looking to help you grow. ... Read 13 reviews

1585 BROADWAY ,

13 Niche users give it an average review of 4.4 stars.

Featured Review: Entry Level Employee says I had a good experience. Surrounded by people that are driven, hard working, and looking to help you grow. .

SunTrust Banks

Atlanta, GA •

303 PEACHTREE ST N E

• • Rating 4.23 out of 5   31 reviews

Entry Level Employee: I enjoy working with my team and value the lessons I have learned while at Truist. I have gained two licenses when I started. I gained my Series 99 and Security Industry Essentials Examination license to be registered with FINRA. I have worked some with Financial systems such as BlackLine and Alteryx as well. ... Read 31 reviews

303 PEACHTREE ST N E ,

ATLANTA, GA ,

31 Niche users give it an average review of 4.2 stars.

Featured Review: Entry Level Employee says I enjoy working with my team and value the lessons I have learned while at Truist. I have gained two licenses when I started. I gained my Series 99 and Security Industry Essentials Examination... .

Read 31 reviews.

U.S. Bancorp

Minneapolis, MN •

• • Rating 3.84 out of 5   63 reviews

Entry Level Employee: Working at US Bank was an incredibly rewarding experience that I thoroughly enjoyed. One of the things that I loved most about my job was the supportive and collaborative team culture that existed within the organization. Everyone was committed to working together to achieve common goals, and there was always a sense of camaraderie and mutual respect. Additionally, I appreciated the emphasis that the company placed on professional development and growth. Through various training programs and opportunities to take on new challenges, I was able to expand my skills and knowledge and progress in my career. Finally, I felt that US Bank was truly committed to making a positive impact in the community through its various philanthropic initiatives, which aligned with my own values and made me feel proud to be a part of the organization. Overall, my experience at US Bank was one that I will always look back on with fondness and gratitude. ... Read 63 reviews

US BANCORP ,

MINNEAPOLIS, MN ,

63 Niche users give it an average review of 3.8 stars.

Featured Review: Entry Level Employee says Working at US Bank was an incredibly rewarding experience that I thoroughly enjoyed. One of the things that I loved most about my job was the supportive and collaborative team culture that existed... .

Read 63 reviews.

388 GREENWICH ST

• • Rating 3.89 out of 5   19 reviews

Experienced Employee: Citigroup is a great place to work. The leadership is very progressive and takes action when needed. My coworkers are very friendly and make me feel very comfortable. ... Read 19 reviews

388 GREENWICH ST ,

19 Niche users give it an average review of 3.9 stars.

Featured Review: Experienced Employee says Citigroup is a great place to work. The leadership is very progressive and takes action when needed. My coworkers are very friendly and make me feel very comfortable. .

Read 19 reviews.

Primerica Inc.

Duluth, GA •

1 PRIMERICA PARKWAY

• • Rating 4.48 out of 5   25 reviews

Entry Level Employee: I am highly enthralled to be a pre-licensing trainee of Primerica. This company has dedicated staff , Zoom meetings almost , if not everyday ( I am just getting my pre-licensing steps and exas started in Pennsylvania!). As well as good opportunities for just about anyone - homemakers, retirees- this is an excellent opportunity for college students looking to make full time income on a part time schedule ! There are generous bonuses for productivity goals that are met! There are one to one personal trainers available , they have an awesome portal to help you pre-licensing get ready to take and pass the state exam. Help you if you need assistance with scheduling - just ask ! I am changing what I would like to see changed - me not having my insurance license to remotely assist customers- either old or new ! ... Read 25 reviews

1 PRIMERICA PARKWAY ,

DULUTH, GA ,

25 Niche users give it an average review of 4.5 stars.

Featured Review: Entry Level Employee says I am highly enthralled to be a pre-licensing trainee of Primerica. This company has dedicated staff , Zoom meetings almost , if not everyday ( I am just getting my pre-licensing steps and exas... .

Read 25 reviews.

Fifth Third Bancorp

Cincinnati, OH •

38 FOUNTAIN SQ PLZ

• • Rating 4.22 out of 5   18 reviews

Experienced Employee: Personally, Fifth Third is one of the best companies that I have worked for. Not only are they very well aware of life outside of work, but they help constantly in a multitude of ways. Every day that I work, I learn something new due to my coworkers being so knowledgeable. When traveling for the branch, you are reissued money for gas that was used. There are constantly opportunities to grow, starting from a banker and moving your way up as you feel comfortable. I gave them my house location and they placed me at he branch closest to my home, allowing me a very convenient traveling distance so I am able to travel affordably and safely. The team is great and I couldn't have thought of a better job. ... Read 18 reviews

38 FOUNTAIN SQ PLZ ,

CINCINNATI, OH ,

18 Niche users give it an average review of 4.2 stars.

Featured Review: Experienced Employee says Personally, Fifth Third is one of the best companies that I have worked for. Not only are they very well aware of life outside of work, but they help constantly in a multitude of ways. Every day that... .

Read 18 reviews.

Cleveland, OH •

127 PUBLIC SQ

• • Rating 4.42 out of 5   19 reviews

Experienced Employee: Working for Key has been very enriching for me, this company has a friendly and team forward environment that helps foster a healthy work place. There is plenty of room for growth and development and an abundance of resources to help you achieve your goals. Working for Key has provided me a sense of direction in my career that I am grateful for. ... Read 19 reviews

127 PUBLIC SQ ,

CLEVELAND, OH ,

19 Niche users give it an average review of 4.4 stars.

Featured Review: Experienced Employee says Working for Key has been very enriching for me, this company has a friendly and team forward environment that helps foster a healthy work place. There is plenty of room for growth and development and... .

Geo Group Inc (The)

Boca Raton, FL •

621 NW 53RD ST

• • Rating 3.81 out of 5   16 reviews

Senior Employee: This company has giving me the opportunity to work for it. I had good and bad situations and when I ask for help. Someone is there to listen and take action. ... Read 16 reviews

Industry: Financial Services, Real Estate

621 NW 53RD ST ,

BOCA RATON, FL ,

16 Niche users give it an average review of 3.8 stars.

Featured Review: Senior Employee says This company has giving me the opportunity to work for it. I had good and bad situations and when I ask for help. Someone is there to listen and take action. .

Industry : Financial Services, Real Estate ,

Zions Bancorporation

Salt Lake City, UT •

ONE SOUTH MAIN ST

• • Rating 4 out of 5   14 reviews

Entry Level Employee: It was a good run. I enjoyed my year and a half there. I feel the pay was very fair for the work, and I really love my coworkers there too. The training and sales aspects leave something to be desired though. ... Read 14 reviews

ONE SOUTH MAIN ST ,

SALT LAKE CITY, UT ,

14 Niche users give it an average review of 4 stars.

Featured Review: Entry Level Employee says It was a good run. I enjoyed my year and a half there. I feel the pay was very fair for the work, and I really love my coworkers there too. The training and sales aspects leave something to be... .

Read 14 reviews.

M&T Bank

Buffalo, NY •

1 M&T PLAZA

• • Rating 4.6 out of 5   10 reviews

Experienced Employee: Having spent several years as a dedicated employee at M&T Bank, I can say with confidence that this institution goes above and beyond in its efforts to cultivate a happy and healthy work environment. The commitment to fostering togetherness and well-being among its employees is truly commendable. From the very beginning, I was struck by the inclusive culture at M&T Bank. Regardless of your position or tenure, everyone's voice is heard and valued. The bank's leadership actively promotes diversity, equity, and inclusion, ensuring that employees from all backgrounds feel respected and supported. M&T Bank encourages open and honest communication at all levels. There is a strong sense that management genuinely cares about employees' opinions and concerns. Regular town hall meetings, feedback sessions, and surveys allow us to voice our thoughts, and the bank takes concrete actions based on our feedback. ... Read 10 reviews

1 M&T PLAZA ,

BUFFALO, NY ,

10 Niche users give it an average review of 4.6 stars.

Featured Review: Experienced Employee says Having spent several years as a dedicated employee at M&T Bank, I can say with confidence that this institution goes above and beyond in its efforts to cultivate a happy and healthy work environment.... From the very beginning, I was struck by the inclusive culture at M&T Bank. Regardless of your position or tenure, everyone's voice is heard and valued. The bank's leadership actively promotes... M&T Bank encourages open and honest communication at all levels. There is a strong sense that management genuinely cares about employees' opinions and concerns. Regular town hall meetings, feedback... .

Read 10 reviews.

Showing results 1 through 25 of 1,668