Sites like HiFX – compare competing services for sending money overseas

1. OFX

OFX offers transfers and exchanges into 55 different currencies. If you’re a larger business looking to pay for exports or just need to transfer a larger sum to an account overseas, this service may be ideal.

Pros

• 24-hour customer support
• Available in 195 countries and 55 currencies
• Offers scheduled and recurring transfers
• iOS and Android apps available for mobile transfer and tracking

Cons

• No cash payment or pickup. OFX only delivers funds through bank deposit.

Go to OFX website

2. TransferWise

TransferWise is a money transfer site designed to help you save money on exchanges through a peer-to-peer system. Its unique system allows you to exchange your funds with those of another seeking to convert their money to your currency. It’s basically trading money with another person, but it doesn’t cross borders.

Pros

• Maximum 1% fee
• $3 minimum fee
• Minimum transfer of $1
• Maximum transfer of $36,000,000
• Apps for both iOS and Android
• Uses mid-market exchange rate with no hidden fees

Cons

• Transfers to bank accounts. No cash pickup option.

Go to the TransferWise website

3. WorldRemit

WorldRemit provides a variety of transfer options in more than 120 countries worldwide, including online, bank-to-bank and cash transfers. Fees vary by country you’re sending funds to and the global exchange rate at the time of your transfer. WorldRemit is ideal for small businesses, offering transfers from $1 to $2,000.

Pros

• Flexible payment options
• Easy three-step transfer process
• Transfers to mobile wallet accounts
• Cash pickup available
• Mobile airtime account transfers

Cons

• The higher your transfer, the greater the transfer fees

Go to the WorldRemit website

4. Travelex

Around since 1976, Travelex is an international money transfer service in 177 countries worldwide. Through its simple online process, you can transfer money to someone on the other side of the world within a couple of days. Its minimum transfer amount for overseas is $500, and it keeps you up to date on exchange rates, so you can know exactly how much money your recipients will receive in their accounts.

5. Currencies Direct

Currencies Direct is an international money transfer service dedicated to helping its customers save more when transferring money internationally. With 39 currencies to choose from (and others that can be discussed with the company itself), it is more flexible than other money transfer services. So long as there’s a bank account available, Currencies Direct will transfer and exchange your funds at a low flat rate.

Pros

• No fees for 90% of its transactions
• Worldwide service
• Competitive exchange rates
• Low minimum transfer of $100
• Supports large transactions at a seemingly unlimited max
• Monitors exchange rates for your ideal transfer

Cons

• No cash pickup option
• Does not support all currencies (though you can contact them if yours isn’t listed)

Go to the Currencies Direct website

6. Sharemoney

Sharemoney is a part of the Omnex group, a company that’s specialized in money transfers for over 25 years. Its constantly expanding service range and offer door-to-door and cash pickup options on top of the usual transfer techniques.

Pros

• Low transfer fees
• Exchange rate calculator helps you see just how much money you’ll get for your dollar
• Fast and easy service
• Door-to-door delivery in as short as 48 hours
• Discounts available on Facebook

Cons

• Doesn’t transfer to every country
• Exact location must be specified for cash pickup
• Daily transfer limits of $9,999

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