Managing Money In A Crisis
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Sharemoney alternatives
The best alternative companies to Sharemoney for sending a money transfer.
Guides
Exchange Rates
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 minimum transfer of $20
- Low transfer fees starting at just $2.99
- Exchange rate calculator helps you see just how much money you’ll get for your dollar, with rates updated hourly
- Fast and easy service, with cash and bank transfers taking as little as 15 minutes to 24 hours
- Door-to-door delivery in as short as 48 hours
- Discounts available on Facebook
Cons
- Limited state availability, with Sharemoney only licensed to operate in 36 out of 50 US states
- Only offers one-off transfers
- Can only transfer money to 21 countries — largely limited to South America and select Asian countries
- Exact location must be specified for cash pickup
- Low transfer limits of $2,999.99 every 15 days, and $9,999.99 every six months
What's in this guide?
- XE Money Transfer
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.
Why pick XE Money Transfer instead?
- Trade in over 120 currencies, allowing for money transfers to over 200 countries
- Competitive exchange rates save you money in the long run
- Quick turnaround means transfer is complete in 3 to 5 days
- No minimum or maximum transfer limit
- No transfer fees
Downsides
- Exchange rate comparison tool not available until after you’ve registered with the site
- Bank-to-bank transfers only
- No same-currency transfers
- 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. 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.
Why pick TransferWise instead?
- $3 fee for transfers up to $300; a fee of 1% of the amount sent for transfers up to $5,000; a fee of 0.7% on any amount over the initial $5,000
- Low minimum transfer amount of $1
- High transfer limits — can send up to $49,999 a day and $199,999 a year
- Apps for both iOS and Android
- Uses mid-market exchange rate with no hidden fees
Downsides
- Transfers to bank accounts only — no cash pickup option
- No same-currency transfers
- Two-step process means you must first wire your money to TransferWise, which then deposits the money to your recipient’s bank account
- Requires a Social Security number to send money
- WorldRemit
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.
Why pick WorldRemit instead?
- Low minimum transfer amount of $1
- Flexible payment options
- Easy three-step transfer process
- Transfers to mobile wallet accounts
- Cash pickup available
- Mobile airtime account transfers
Downsides
- The higher your transfer, the greater the transfer fees
- Low maximum transfer amount of $5,000
- Ria
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.
Why pick Ria instead?
- Wide variety of transfer options, including cash, debit card, credit card or bank account
- Worldwide transfer network, with over 316,000 agent locations in more than 144 countries
- Online price calculator simplifies money conversion
- Great exchange rates that are stronger than most US banks
- Home delivery option in select countries
Downsides
- Maximum daily transfer cap of $2,999.99; maximum amount you can send in 30 days is $7,999
- Rates and fees depend on amount, location and method of transfer
- Does not offer forward contracts or limit orders
- TorFX
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.
Why pick TorFX instead?
- Competitive exchange rates with fixed exchange rate protection — often beating banks by more than 3%
- No transfer fees
- Free registration allows you to get access to free market analysis and expert advice
- Low minimum transfer amount of $150
Downsides
- Can only send from Australia
- Bank-to-bank transfers are your only option
- Users report technical and administrative problems that delay transfers
- Currencies Direct
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.
Why pick Currencies Direct instead?
- No fees for 90% of its transactions
- Supports 60 market currencies
- Competitive exchange rates
- Low minimum transfer of $100
- Supports large transactions at a seemingly unlimited max
- Monitors exchange rates for your ideal transfer
Downsides
- No cash pickup option — bank-to-bank wire transfers only
- Travelex
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.
Why pick Travelex instead?
- Flat fee of $5 for any transaction under $5,000
- No fee for transfers of $5,000 or more
- Exchange to more than 45 different currencies
- Offers a price promise — if you find a better price within 30 minutes of your transfer with Travelex, it will beat it
Downsides
- High minimum transfer amount of $500
- Bank-to-bank transfers only
- No cash payments or cash pickups allowed
- No check or credit card payments allowed
- OFX
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.
Why pick OFX instead?
- 24-hour customer support
- Available in 195 countries and territories, and 55 currencies
- Offers scheduled and recurring transfers
- iOS and Android apps available for mobile transfer and tracking
- No transfer fees
Downsides
- No cash payment or pickup. OFX only delivers funds through bank deposit.
- Verify new accounts by phone
- High minimum transfer amount of $1,000 per year
- MoneyGram
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.
Why pick MoneyGram instead?
- Extensive global network of 350,000 agent locations in over 200 countries and territories
- Large pool of services available for sending, receiving or financing
- Fast transfers, with same-day service in many locations
- Home delivery and cash pickup options
- Low minimum transfer amount of $1
Downsides
- Maximum online transfer amount of $6,000
- Fees vary depending on payment type and transfer destination
- Transfers must be made in US dollars from the US (no exchanges before transfer)
- Local exchange rates vary by transfer destination
- Walmart
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.
Why pick Walmart instead?
- Widespread network of agents offers transfers to more than 190 countries and territories with 350,000 agents worldwide
- Efficient transfers in as little as 10 minutes
- Wide variety of transfer options, including debit card, credit card, cash or bank account
- Home delivery and cash pickup options
- Low minimum transfer amount of $1
Downsides
- Rates and fees depend on location
- Maximum sending limit of $6,000 per transaction — with a maximum of $6,000 per 30 calendar days
- Western Union
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.
Why pick Western Union instead?
- Low minimum transfer of $1
- Send money in minutes
- Transfer to over 200 countries and territories across the globe
- Multiple transfer options including paying with cash or your debit card, credit card or bank account
- Trusted provider for over 160 years
Downsides
- Weak exchange rates that can be nearly 5% more than the mid-market rate
- Higher fees, whereas other companies offer free transfers or low-fee transfers
- Low maximum transfer amount of $5,000
- Xoom
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.
Why pick Xoom instead?
- Low minimum transfer amount of $10
- Money-back guarantee if your transfer doesn’t arrive on time
- Cash pickup and home delivery available, depending on where you’re sending your funds to
Downsides
- Transfer fees vary depending on where you’re sending money to, the amount you’re sending and the method you choose
- PayPal
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.
Why pick Paypal instead?
- Send money inside the US for free
- Available in 203 countries
- Offers recurring payments
- Low minimum amount of $1
- Multiple digital safeguards in place to protect against fraud and hacking
Downsides
- Fees are proportionate to the amount transferred — the larger the transfer, the more money they take
- Fees vary by location of transfer and method, with better deals for using a PayPal credit card or account
- No cash pickup option available
Still looking for other options?
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
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