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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.
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How to send cash overseas with Sharemoney
XE Money Transfer is a service designed to help you transfer your funds to a bank in a foreign currency — it doesn’t allow same-currency transfers like Sharemoney does. If you’re working far from home, XE is ideal for getting cash to your family or making investments overseas. Given how easy it is to transfer your money to foreign companies in their currency, it’s especially ideal for business accounts. Unlike Sharemoney, which only allows for transfer to 21 countries, XE allows you to transfer funds in over 120 currencies to more than 200 countries. However, it doesn’t offer the option of cash pickup or delivery — one of the pluses of going with Sharemoney.
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. Because of its unique platform, TransferWise doesn’t allow for same-currency transfers like Sharemoney does, nor does it offer a cash pickup option. But two things they have in common are their low minimum transfer amounts and low fees starting at just $3. However, while Sharemoney only allows you to send $2,999.99 every 15 days and $9,999.99 every six months, TransferWise has much higher transfer limits, allowing you to send up to $49,999 a day and $199,999 a year.
Unlike Sharemoney, which only allows for transfers to 21 countries, WorldRemit provides online, bank-to-bank and cash transfers to more than 140 countries worldwide. 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 $5,000 — a higher maximum amount than Sharemoney’s $2,999.99 limit. While both Sharemoney and WorldRemit allow for cash pickup, WorldRemit also allows you to transfer money to mobile wallet accounts.
Unlike Sharemoney, which only allows for transfers to 21 countries, Travelex is an international money transfer service in 177 countries worldwide with more than 45 different currencies. Through its simple online process, you can transfer money to someone on the other side of the world within a couple of days. While Sharemoney allows for cash pickup and has a minimum transfer amount of just $20, Travelex does not allow for cash transfers at all and has a minimum transfer amount of $500 — which may be higher than some individuals are looking to send. Travelex’s exchange rates aren’t always the most competitive, but it does offer a price promise: If you find a better price within 30 minutes of your transfer with Travelex, it will beat it.
In business for more than 30 years, RIA is a global monetary transfer network with more than 316,000 agent locations in 144 countries — a notably larger reach than the 21 countries Sharemoney offers transfers to. In fact, RIA is the third-largest international money transfer provider in the world. Both Ria and Sharemoney offer cash pickup and home delivery in select countries and have a maximum daily transfer cap of $2,999.99.
Known for its retailing business, Walmart offers money transfer services to over 190 countries and territories thanks to a partnership with MoneyGram — a much larger reach than the 21 countries Sharemoney offers transfers to. Both Walmart and Sharemoney offer low minimum transfer amounts with some transfers in as little as 10 to 15 minutes, and allow for cash pickup or home delivery.
Unlike Sharemoney, which only offers money transfers to 21 different countries, OFX offers transfers and exchanges to 195 countries and territories in 55 different currencies. With a higher minimum than Sharemoney’s $20, OFX may be ideal if you’re a larger business looking to pay for exports or just need to transfer a larger sum to an account overseas. It doesn’t have transfer fees like Sharemoney does, and it even offers scheduled and recurring transfers.
The second-largest international money transfer service in the world, MoneyGram transfers currencies in over 200 countries and territories around the world to more than 350,000 agent locations worldwide. In that aspect, it has Sharemoney’s measly 21 countries beat. Both money transfer services have low minimum transfer amounts and offer home delivery as well as cash pickup.
Unlike Sharemoney, which only offers transfers to 21 countries, Western Union allows you to transfer money to over 200 countries and territories worldwide. Both Sharemoney and Western Union have low minimum transfer amounts, allow for cash pickups and can sometimes get your money transferred in a matter of minutes. However, Western Union is known to have weak exchange rates that can be nearly 5% more than the mid-market rate, along with higher fees.
Unlike Sharemoney, which allows you to send money from 36 US states, TorFX only allows money transfers from Australia. It’s a stricter money exchange and transfer company than others, and requires that funds be cleared by individuals who hold TorFX accounts — meaning the money must be sent in advance before the transaction can be performed. While TorFX guarantees that it can beat competitor exchange rates for your transactions, a protection that Sharemoney doesn’t offer, the fact that you can only send money from Australia makes this company limiting for many individuals. Moreover, whereas Sharemoney allows for home delivery and cash pickups on top of other options, TorFX only allows for bank-to-bank transfers.
Unlike Sharemoney, which has transfer fees starting at $2.99, Currencies Direct is a fee-free international money transfer service, or at least 90% of the time they are. With a low minimum transfer of $100, you can make payments in 60 currencies — a wider variety than the 21 countries Sharemoney offers its services to — but they only allow for bank-to-bank wire transfers. So if you’re looking to have your money delivered to your recipient or prefer a cash pickup option, then you’re better off sticking with Sharemoney or another money transfer company that offers those options.
While Sharemoney only offers transfers to 21 countries, primarily in South America and Asia, Xoom has a larger reach of 57 countries worldwide. Both Xoom and Sharemoney allow for cash pickup and home delivery and have low minimum transfer amounts of $10 and $20 respectively, although Xoom has a higher maximum limit of $10,000 — compared to Sharemoney’s $2,999.99 limit. Xoom also offers a unique money-back guarantee if your transfer doesn’t arrive on time — a perk few money transfer companies have.
Unlike Sharemoney, which offers money transfers to residents of 36 US states, Currency Online does not. This money transfer company does, however, exchange more than 25 different currencies with low minimum transfer amounts of $50 and no maximum amounts. Currency Online is also limited in that it only allows for money transfers from your bank account, as opposed to Sharemoney, which offers cash money transfers with a home delivery option.
You likely know PalPal’s digital service for online purchases, but you may not know that it supports wireless overseas transfers. Its popularity around the world makes it possible to transfer up to 20 currencies across more than 200 countries — a much wider reach than the 21 countries Sharemoney offers transfers to. Both Sharemoney and PayPal have low minimum transfer amounts of $20 and $1 respectively, but only Sharemoney allows for cash pickup or home delivery.
Try comparing services like:
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
