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Alternatives to Wise (TransferWise)

Compare money transfer services with set fees, better exchange rates and more tools.



OFX logo
  • Competitive exchange rates
  • Flexible transfer options
  • Transfer to 50+ currencies
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Wise prides itself on offering customers the real exchange rate and making money transfers easy. The main reasons for using Wise include:

  • Transparent fees. You are typically charged a fixed fee and then a small variable fee based on a preset percentage. So you know upfront what you’ll be paying.
  • Mid-market rate. There is no exchange rate markup with Wise. Instead, you will receive the mid-market rate on all your transfers.
  • High daily spending limits. The limit is $1.6 million for SWIFT transfers and $1 million for local transfers.

But that doesn’t mean it necessarily works for all your money transfer needs. Other companies may be cheaper or have better features. To help you out, we’ve brought together our picks for Wise alternatives — including popular money transfer services that offer features that Wise lacks.

Moneygram logo

1. MoneyGram

With an extensive network of agent locations in more than 200 countries and territories, MoneyGram is one of the largest money transfer providers around. As a result, it provides customers with a range of transfer options and is often one of the fastest money transfer services.

Why pick MoneyGram instead?

  • 350,000 cash pickup locations worldwide
  • Almost-instant transfers in a huge range of currencies
  • Can pay by cash and in-person

Main downsides

  • High fees
  • Typically has higher margins on exchanges than other smaller companies
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Xe Money Transfer Logo

2. XE Money Transfer

Xe Money Transfer allows you to send money to 130+ countries in 98+ currencies. There are no fees on transfers of $500 or more, and it makes money from adding a margin to the exchange rate. They have an easy signup process and are one of the world’s leading foreign exchange providers.

Why pick Xe Money Transfer instead?

  • Charges a small flat fee for amounts below $500
  • Transfers of up to $500,000
  • “Buy now, send later” option
  • Send money to more than 130 countries

Main downsides

  • Limited cash pickup options
  • Slow transfer speeds
  • You need to register to see exchange rates
WorldRemit logo

3. WorldRemit

WorldRemit’s worldwide network supports multiple money transfer options, including bank transfers, cash pickup and door-to-door delivery. Plus, if you are a first-time customer, you’ll often be able to find a promo code to secure yourself a better deal.

Why pick WorldRemit instead?

  • Noteworthy delivery options: cash pickup, mobile wallets, home delivery
  • Supports exotic currencies, such as exchanging Rwandan francs for Nepalese rupees
  • Mobile airtime top-ups through account transfers

Main downsides

  • Maximum daily limits — $9,000 in a 24-hour period
  • Inconsistent markups across currencies
  • No hedging options
Western Union

4. Western Union

As one of the most established money transfer providers, Western Union’s extensive network and wide assortment of transfer options stand out from Wise’s offering. However, expect weaker exchange rates and higher fees.

Why pick Western Union instead?

  • More than 145 years in the business
  • 500,000+ global agent locations
  • Fees based on the transfer amount
  • Fast transfers

Main downsides

  • Weak exchange rates
  • Higher fees than most digital competitors
  • Maximum limit on the amount you can send online, determined by which country you are sending to
Remitly logo

5. Remitly

Remitly is an online money transfer provider focused on smaller, fast transfers. It has a two-speed system, which gives you the choice between speed and fees — depending on your transfer needs.

Why pick Remitly instead?

  • Express transfer options
  • Delivery promise or your money back
  • Diverse transfer options, including cash pickups and transfers to mobile wallets
  • Referral reward program

Main downsides

  • Low maximum limit of $2,999 on new accounts, better suited to smaller transfers
  • Inconsistent exchange rate margins
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6. Xoom

Xoom is a money transfer service that sits under the PayPal umbrella. If you are a PayPal account holder, it is a convenient way to send money abroad. It also has a money-back guarantee if your money doesn’t reach its destination.

Why pick Xoom instead?

  • Money-back guarantee
  • Multiple transfer options, including cash pickup and door-to-door delivery
  • 24/7 customer support
  • Cheaper fees if using your PayPal balance

Main downsides

  • Varying transfer limits depending on the amount of ID provided
  • Fees when paying with a credit card can be high
OFX Logo

7. OFX

OFX’s wide range of currencies, including many exotic ones, makes it stand out from the competition. It has no transfer fees and allows you to fix your rate up to 12 months in advance. However, it only supports bank account to bank account transfers.

Why pick OFX instead?

  • No transfer fees
  • Wide range of currencies
  • Fix your FX exchange rate
  • No maximum transfer limit

Main downsides

  • Bank account transfers only
  • High minimum transfer amount
  • Unavailable in some states
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Compare 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.
1 - 14 of 14
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Within minutes
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
OFX International Money Transfers (Business)
24 hours
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
Increase business efficiency with zero transaction fees and same-day transfers.
24 hours
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
24 hours
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.

Frequently asked questions