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Alternatives to Wise (TransferWise)

Compare companies with set fees, better exchange rates and more tools to transfer your money for less.

Wise supports bank-to-bank transfers only and requires a Social Insurance Number (SIN), which means it won’t be convenient for all transfers. Its fees also depend on the amount of money you’re sending, which can get expensive fast.

To help you find the best money specialist transfer for your needs, compare popular alternatives offering features that Wise lacks.

XE Money Transfer logo

XE Money Transfer

XE Money Transfer lets you send money in 40+ currencies. There are no fees on transfers of CAD $500 or more and instead makes it money from a margin added to the exchange rate. (A flat fee of $4 is charged on transfers under CAD $500.)

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Why pick XE Money Transfer instead?

  • No transfer fees when you send CAD $500 or more
  • 40+ currencies available
  • High maximum transfer limits of $500,000


  • Bank-to-bank transfers only
  • Exchange rate comparison tool not available until after you’ve registered with the site
  • Rates may vary and aren’t always the most competitive option

worldremit logo


WorldRemit has one of the largest ranges of countries you can send to, as well as a variety of payment options.

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Why pick WorldRemit instead?

  • Able to transfer to cash pick-up locations or mobile wallets
  • Instant transfers available
  • Supports many exotic currencies


  • Only sends mobile credit top-ups to some countries
  • Low maximum transfer limit makes it bad for large transfers

Western Union sites like

Western Union

Western Union sometimes charges higher fees and weaker exchange rates than other dedicated money transfer services. However, it offers multiple transfer options and accepts payment by cash, card or bank transfer. In-person transfers are possible at Western Union agent locations.

Why pick Western Union instead?

  • Almost instant transfers
  • 200+ countries and territories
  • Multiple transfer options including paying with cash or your debit card, credit card or bank account
  • Cash pick-up available


  • Weak exchange rates that can be around 6% more than the mid-market rate
  • High fees, whereas other companies offer free transfers or low-fee transfers
  • Low maximum transfer amount of $5,000

InstaReM logo

InstaReM International Money Transfers

Earn rewards points on your money transfers with InstaReM, and redeem points to lower the cost of future transactions. Great for small transfers, InstaReM offers very competitive exchange rates on a number of popular currencies.

Why pick InstaReM instead?

  • Earn loyalty points on your transfers and redeem for discounts on future transfers
  • Transfers typically arrive within 1-2 business days (instant and same-day delivery for some transfers)
  • Send money and track transfers using InstaReM’s mobile app for Android and iOS


  • Low maximum transfer amount of $3,000
  • Only supports transfers in 15+ currencies (incl. PHP, INR, CNY, EUR, GBP and USD)

ofx logo


Also known as OzForex, OFX has expanded to Canada and aims to beat the exchange rates offered by banks.

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Why pick OFX instead?

  • No fees on transactions over $10,000
  • Offers more currencies
  • No maximum limit for how much you can send


  • Doesn’t use the mid-market rate
  • Only accepts bank transfers as payment

MoneyGram logo


One of the most well-known transfer brands, MoneyGram sends money to more than 200 countries. Both MoneyGram and Wise let you send small transfers, with a minimum transfer amount of $1.

Why pick MoneyGram instead?

  • 350,000 cash pick-up locations in 200+ countries and territories
  • One of the largest ranges of currencies
  • Almost-instant transfers
  • Can pay by cash and in-person


  • High transfer fees
  • Can’t send more than $990 online (can send more in person at an agent location).
  • Adds a bigger margin to the exchange rate than other, smaller transfer companies

Still looking for other options?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you’re ready to send. Alternatively, learn more about Wise in our review.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 1 Same day CAD 0.00 0.806 USD
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
USD 150 1 day CAD 0.00 0.807 USD
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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CAD 2,000 1 day CAD 0.00 0.807 USD
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
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CAD 10 Within an hour CAD 1.99 0.801 USD
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
USD 10,000 1 - 2 days CAD 0.00 0.803 USD
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries. Go to site Show details
CAD 1 1 - 2 days CAD 90.00 0.81 USD
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
GBP 5,000 1 - 2 days CAD 0.00 0.807 USD
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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