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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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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 Logo

  1. 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

Downsides

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

  1. 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.

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

  1. 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

  1. 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

  1. 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 Logo

  1. 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 logo

  1. 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.

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 Show details
$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 Show details
$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 Show details
$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 Show details

Compare up to 4 providers

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

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