The best alternatives for transferring money to friends and family worldwide.
XE Money Transfer (formerly HiFX) can help you get money to loved ones and businesses abroad 24/7 with no fees and at competitive rates. It’s available to more than 170 countries and supports limit orders that help you lock in rates on future transfers, making it a solid option for business accounts.
- Send money to 170+ countries with no fee.
- Competitive exchange rates are often better than banks.
- Transfer up to $500,000 online.
- Lock in strong rates on future transfers.
- Bank-to-bank transfers only.
- Requires documentation.
- Does not support all currencies.
XE’s fee-free money transfers offer strong rates. But if it doesn’t offer services to your recipient’s location, you have safe alternatives.
TransferWise is a peer-to-peer money specialist that matches you with others looking to send funds in the opposite direction. You can send as little as $1 up to almost $50,000 daily in more than 50 currencies through TransferWise.
In a way, it’s like trading money with other people. TransferWise bypasses the fees that typically come with cross-border transactions, passing the savings along to you in the form of cheap money transfers. And if you’re a business, its Borderless Accounts can save you plenty.
- Easy to use. Sign up and start transferring in as few as 2.5 minutes.
- Affordably priced. P2P technology results in transfers that are often cheaper than banks and other services.
- High transfer limits. Individual accountholders can send up to $49,999 a day and $199,999 a year.
- Bank-to-bank only. Transfers are limited to your recipient’s bank account, with no option for cash pickups.
- Two-step process. You must first wire money to TransferWise, which then deposits the money to your recipient’s bank account.
- Requires a Social Security number. You must be a US citizen, permanent resident or temporary resident to use TransferWise.
OFX is a money transfer specialist that offers competitive exchange rates and international transfers in more than 50 currencies. Like with XE, you won’t pay a fee for your transfers, and rates are competitive.
But OFX offers comprehensive hedging tools like limit orders and forward contracts to lock in competitive rates on future transfers, as well as scheduled payments for recurring bills or regular help to loved ones.
- Wide currency support. OFX supports 55 currencies, allowing transfers to many countries around the world.
- Fee-free transfers. You won’t pay a transfer fee to send money with OFX.
- Flexible options. Lock in a competitive rate with forward contracts and limit orders, or schedule regular transfers.
- Bank-to-bank transfers only. Your recipient must have a bank account to receive funds through OFX.
- Phone verification required. You can sign up for free online, but you’ll need to verify your account with an OFX representative by phone before sending money abroad.
- High minimum transfers. OFX accepts money transfers of $1,000 or more.
Founded in the UK in 2010, WorldRemit makes it easy for you to send money to more than 140 countries from your computer or phone. It offers more ways to fund your transfer than XE, including bank accounts, credit cards or debit cards.
You’ll find more flexible delivery options too, with deposits to your recipient’s bank account or mobile wallet. Or send it to a local agent location for cash pickup. And if your recipient lives in a country where it’s available, you can even top up their mobile airtime.
- Easy to use. Sign up and transfer money in as few as five minutes.
- Wide network. Support customers in more than 50 countries with transfer to more than 140 countries worldwide.
- Flexible funding and delivery options. Pay for your transfer with a bank account or a credit or debit card. Transfer money to your recipient’s bank account or more than 30,000 agent locations around the world for cash pickup.
- Limited coverage. Louisiana and New York are excluded from WorldRemit’s services.
- Requires government-issued ID. You must upload a copy of your driver’s license or passport after your first transfer.
- Low maximum transfer. If you need to send more than $5,000, you’ll need to look elsewhere.
You’ve likely seen Travelex’s forex booths at airports around the globe. But it’s also a money specialist, helping customers in more than 175 countries send money in more than 45 currencies.
Fees are low at $5 for transfers of up to $5,000 with no fee for larger transactions. And if you find a better price within 30 minutes of your transfer, Travelex will match it.
- Easy to use. Sign up and transfer money in as few as five minutes.
- No fee for large transfers. Send more than $5,000 to avoid a fixed $5 transfer fee.
- Hedging tools. Lock in a competitive rate with forward contracts, limit orders and scheduled payments.
- Bank-to-bank only. Your recipient must own a bank account to receive your transfer.
A foreign exchange service provider operating in the US, Europe, Australia and South Africa, TorFX helps businesses and individuals transfer fund with the help of an account manager. Unlike XE, you can send as much or as little as you need to without a fee. But supported currencies are limited to Australian dollars and New Zealand dollars for American customers.
- No limits. Send as much or as little as necessary.
- No fees. Pay no fee to send money to friends and loved ones.
- Strong exchange rates. TorFX offers competitor matching, as long as it’s above the interbank rate.
- Limited currencies. AUD and NZD are the only supported currencies in the US.
6. World First
World First offers simple international money transfers with the help of its award-winning customer service. Schedule regular payments or set up a forward contract to lock in a low rate. Like XE, World First waives its fee for transfers of more than $10,000.
- Competitive rates. And it promises to beat competitors, if you get a lower quote.
- Lock in your rate. Leverage a forward contract or schedule regular payments when rates are low.
- Expert help. Get weekly updates on market exchange rates.
- Deliveries aren’t always fast. Your recipient could wait up to six days to receive your money due to two-step verification.
- Requires ID. You’ll need to submit your Social Security number and government-issued ID to get started.
- High minimum. If you’re looking to send less than $1,000, look elsewhere.
Founded in 1996, Currencies Direct is among the rare money transfer specialists available at retail locations, by phone, online or through a free mobile app. Currencies Direct also offers foreign exchange services to businesses.
Like XE, Currencies Direct waives fees for high-dollar transfer transactions. But it doesn’t limit your transfers to $500,000, like XE does, allowing you to send more.
- No fees. Regardless of the amount, money transfers don’t come with fees.
- Flexible limits. Find low minimum and no maximum transfers at Currencies Direct.
- Wide range of currencies. Currencies Direct supports some 60 currencies.
- No cash pickups. Supports bank-to-bank money transfers only.
With more than 500,000 agent locations in 200 countries, Western Union is the world’s largest provider of international money transfer services. Transfer money in person, online or by phone toll-free. It also offers convenient cash pickup within minutes after a transaction.
Serving more than 200 countries, Western Union covers a wider area than XE’s 170-country footprint. But XE offers fee-free transfers and a higher maximum transfer limit at typically stronger rates than Western Union.
- Wide coverage. Choose from 130 currencies to more than 200 countries around the world.
- Cash pickups. Your recipient can pick up your transfer at any agent in the network.
- Large worldwide network. More than 500,000 agent locations make it easy to send or receive money — even with cash.
- Flexible payments. Pay with plastic or through your bank account.
- Low maximum transfer. You can’t send more than $10,000 with Western Union.
Founded in 1987, Ria is currently the world’s third-largest international money transfer specialist, with representatives in more than 240,000 agent locations in 130 countries. It offers a simple service that allows you to send money overseas within minutes.
Ria offers cash payments, cash pickups and courier delivery to select locations — none of which are possible with XE. But that may not outweigh the stronger rates and lower fees you may get with XE.
- Supports cash. Cash payments and pickups accepted across Ria’s wide network of agents.
- Flexible payment options. Pay for your transfer with your credit or debit card, from your bank account or with cash.
- Door-to-door cash. Ria allows delivery to homes or offices in select locations.
- Competitive exchange rates. Ria’s rates are often better than your local banks’.
- Low maximum. You’re limited to $3,000 a day.
- Varying fees. Many transfers require a fee that depends on your transaction amount.
- No hedging options. You won’t find forward contracts or limit orders at Ria.
MoneyGram is the second-largest international money transfer services provider in the world, offering a global network of more than 350,000 agent locations. Send online, from your phone and through account deposits and ATM transfers to more than 200 countries around the world.
Compared with XE, MoneyGram services more locations worldwide. But its $6,000 maximum is much lower than XE’s $500,000 or more.
- Established reputation. MoneyGram is a trusted provider that’s been around since 1940.
- Easy online transfers. You don’t need to open an account to send money.
- Large network of agents. This means more convenient money transfer services.
- Limited maximum transfers. The most you can transfer online is $6,000, but you can often send more through an agent.
- Weak exchange rates. Though they vary by destination, rates aren’t likely the best you can find online.
Owned by PayPal, Xoom offers simple, convenient transfers to 70 countries online. And its services extend to paying utility bills in 10 countries or reloading the mobile phones of those overseas. Fees vary depending on how you pay for your transfer, where you’re sending your funds and the amount of money you send, with lower fees for using your bank account.
Still, Xoom covers a relatively limited area when compared with XE’s 170 countries. And its $10,000 maximum transfer limit is much lower than XE’s high limit of $500,000 or more.
- 24/7 support. Signup is easy, and phone and email support is available if you need help with a transfer.
- Competitive and affordable. We found competitive rates within 2.4% of the mid-market rate on average — often better than banks.
- Track your transfers. Xoom keeps you and your recipient in the loop on your transfer’s progress by email, and you’ll receive a text when your money arrives. Or track your transfer online from your account or by phone with customer service.
- Not worldwide. You’ll need to look elsewhere if you’re looking to send money outside Xoom’s 70-country footprint.
- Requires government-issued ID. You’ll need a license or passport and a recent bank statement to send money.
For fast transfers to South America and parts of Asia, Sharemoney is a go-to specialist that’s been around for more than 25 years. It keeps your money safe with a tracking number and offers thousands of pickup locations.
Sharemoney will deliver your transfer to your recipient’s home in select locations, which XE doesn’t offer. In terms of maximum transfer limit, XE leads with a $500,000 limit, compared with the relatively small $2,999 every 15 days with Sharemoney.
- Simple conversions. Sharemoney updates current international rates hourly, helping you to know exactly how much your recipient will receive.
- High-speed transfers. Transfers arrive in as few as 15 minutes, depending on your transfer method, getting cash into your recipient’s hands faster.
- Simple, clear tracking. Sharemoney provides various notification settings and tracking options to help monitor the progress of your transfer.
- Low minimum. Send as little as $1 overseas.
- Limited state availability. Sharemoney is licensed to operate in 36 out of 50 states only.
- Not all countries available. Sharemoney’s services are largely limited to South America and select Asian countries.
- Low transfer limits. Sharemoney caps how much you can send, to $2,999 every 15 days and $9,999 every six months.
- Exact pickup location needed. Unlike other cash pickup providers, you must specify the exact store your recipient will visit to receive your money.
- No live chat. If you have questions, you must call or submit an online form for help.
The American superstore Walmart offers fast, low-cost money transfers through two distinct services:
- Walmart2Walmart. Powered by Ria, send money to any Walmart in the US, including Puerto Rico.
- Walmart2World. Powered by MoneyGram, send money to any MoneyGram location in more than 200 countries.
The areas covered by the Walmart2Walmart and Walmart2World services might be larger than XE’s coverage in 170 countries. But XE can likely beat Walmart’s rates and limits.
- Large network. All Walmart stores in the US offer fast store-to-store and overseas transfers.
- Low cost. Prices start at $4 per transfer.
- Low limits. Walmart2Walmart limits transfer amounts to $3,000 daily.