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Alternatives to TransferWise

Compare companies with set fees, better exchange rates and more tools to transfer your money for less.

Leah Fallon

Updated Oct 14, 2020. What changed?

Fact checked

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.

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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.

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Why pick XE Money Transfer instead?

$0 transfer fees
Transfers of up to
Supports 55+ currencies

Downsides

Bank-to-bank transfers only
Must register with XE to compare live rates

WorldRemit

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.

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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

Downsides

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

Downsides

Weak exchange rates — often 5% higher than the mid-market rate
Higher fees than most digital competitors

InstaReM

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

Downsides

Transfers must be sent to a bank account
Must pay via bank transfer
Fewer supported currencies than many competitors

Xoom

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

Downsides

Requires a government-issued ID
Not available worldwide
No live chat customer service option

OFX

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

Downsides

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

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

Downsides

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.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
GBP 1,000	1 - 2 days	USD 0.00	0.843	EUR 8,433	Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000). For larger transfers, get no transaction fees and no maximum send limits.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 1,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
$1	Same day	USD 0.00	0.843	EUR 8,433	XE offers fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AFN, ALL, AMD, ANG, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CUC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, FKP, GBP, GEL, GGP, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, IMP, INR, IQD, IRR, ISK, JEP, JMD, JOD, JPY, KES, KGS, KHR, KMF, KPW, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, LYD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SDG, SEK, SGD, SHP, SLL, SOS, SPL, SRD, SVC, SYP, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TVD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VEF, VND, VUV, WST, XAF, XCD, XDR, XOF, XPF, YER, ZAR, ZMW, ZWD, BYN Go to site Read the full review
$0	1 - 2 days	USD 1.99	0.83	EUR 8,296	Special offers like free transfers and better exchange rates available for new customers. Quick, affordable transfers around the world with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ALL, AMD, ARS, AZN, BAM, BDT, BGN, BIF, BOB, BRL, BSD, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, EUR, FJD, GEL, GHS, GMD, GNF, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KZT, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MWK, MXN, MYR, NGN, NIO, NPR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RSD, RUB, RWF, SLL, SRD, SVC, THB, TJS, TND, TRY, TZS, UAH, UGX, USD, UYU, UZS, VND, XAF, XOF, ZAR, ZMW, BYN Go to site Read the full review
$1	1 - 2 days	USD 80.00	0.847	EUR 8,400	Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
$1	Within an hour	N/A	N/A	N/A	Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Thank you for your feedback!

Leah Fallon

Leah Fallon is an editor for Finder. With 10 years of teaching English under her belt, it was a natural progression to move into editorial. She's written feature pieces for regional print and digital media and today helps fix annoying apostrophes, elusive infinitives and the muddled em and en dash. When she's not helping people with their finances, you can find her exploring the trails of Loudoun County, Virginia and wrangling her two sprightly girls.

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Alternatives to TransferWise

Compare companies with set fees, better exchange rates and more tools to transfer your money for less.

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