Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Alternatives to TransferWise
Compare companies with set fees, better exchange rates and more tools to transfer your money for less.
Updated . What changed?
TransferWise supports bank-to-bank transfers only and requires a Social Security number, which means it won’t be convenient for all transfers. Its fees also depend on the amount of money you’re sending, which can get expensive fast.
To help you find the best money specialist transfer for your needs, compare popular alternatives offering features that TransferWise lacks.
- XE Money Transfer
XE’s money transfer services extend to businesses looking for the flexibility of forward contracts and market orders, so you can use it for more than just sending money to friends and family abroad.
Why pick XE Money Transfer instead?
- $0 transfer fees
- Transfers of up to
- Supports 55+ currencies
- Bank-to-bank transfers only
- Must register with XE to compare live rates
WorldRemit offers a large selection of payment options and is an industry leader when it comes to the number of countries you can send money to.
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
- Low $9,000 daily limit
- Fees and exchange rates are dependent on currencies being transferred
- Mobile airtime, cash pickups and door-to-door transfer not available in every country
- Western Union
With more than 145 years in the business, Western Union’s network includes more than 500,000 locations worldwide and supports a wide assortment of transfer options, including cash pickup.
Why pick Western Union instead?
- Trusted provider since 1871
- 500,000+ global agent locations
- Fees based on transfer amount
- Weak exchange rates — often 5% higher than the mid-market rate
- Higher fees than most digital competitors
InstaReM offers the mid-market rate on some of its transfers during certain trading hours — the company doesn’t make it clear which currencies and hours this applies to. Make sure the rate you are getting is as close to mid-market as possible before completing your transfer.
Why pick InstaReM instead?
- Transparent fees
- Same-day transfers for most supported currencies
- Loyalty points system that can be redeemed against transactions
- Transfers must be sent to a bank account
- Must pay via bank transfer
- Fewer supported currencies than many competitors
Xoom, a PayPal service, is one of the few money transfer services in the industry to back its transfer times with a money-back guarantee.
Why pick Xoom instead?
- Money-back guarantee if your transfer doesn’t arrive on time
- Cash pickup and home delivery possible in many countries
- Requires a government-issued ID
- Not available worldwide
- No live chat customer service option
OFX is pretty similar to TransferWise but varies where it really matters — fees and limits.
Why pick OFX instead?
- No transfer fees
- Exchange rates get stronger with larger transactions
- No maximum transfer limit
- Can only send to a bank account
- Must verify new accounts by phone
- High minimum transfer amount of $1,000
- Doesn’t use the mid-market rate
- Only accepts bank transfers as payment
MoneyGram has over 350,000 agent locations worldwide and transfers funds to over 200 countries, which is one of the largest networks available. Both MoneyGram and TransferWise are better for smaller transfers, as they both have low minimum transfer amounts of $1.
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
- Maximum online transfer amount of $10,000, although it can be lower for other currencies
- High transfer fees that depend on payment type and destination
- Typically has higher margins on exchanges than other smaller companies
Still looking for other options?
If the above options aren’t hitting the right notes with you, use the table below to find more options by entering the amount and destination of your transfer. Alternatively, learn more about TransferWise in our review.
More guides on Finder
How do international money orders work?
Using international money orders to send money overseas? Learn about better options.
Reseña de Remitly: Transferencias de dinero
Lee nuestra reseña de Remitly para descubrir por qué esta opción rápida y competitiva podría ser ideal para tu próxima transferencia internacional de dinero.
Review: Crypto.com cryptocurrency app and exchange
Learn more about the Crypto.com platform in our complete review.
How do we pick the top money transfer services?
Our top picks are our selection of the best money transfer services, based on our extensive research and market experience. Here’s how we choose them.
TransferWise joins trend to send money to Chinese smartphones
It’s the latest Western money transmitter to partner with Alipay, the world’s largest mobile payment provider.
Enviar dinero a México durante el coronavirus
Descubre cómo el COVID-19 podría afectar la forma en la que transfieres dinero a México.
Sending money to Mexico during the coronavirus
Learn how COVID-19 may affect how you transfer cash across the border.
Review: TransferMate for your international business transfer
TransferMate can help your business send money across the globe. Read our review to find out about exchange rates, fees and safety.
Learn about how TransferMate’s personal product works and what it can do for you.
XE vs. OFX money transfers
Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
Ask an Expert