15+ money transfer alternatives to TransferWise | finder.com
transferwise

Services like Transferwise peer-to-peer money transfers

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The best alternative companies to Transferwise for sending a money transfer.

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. Is Transferwise not offered in your country, or are you looking for an alternative? Check out other options below.

Pros

  • $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
  • Multiple payment options including debit or credit card, bank account and Facebook Messenger
  • Transfers money in more than 50 currencies

Cons

  • 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

Go to Transferwise

Alternative sites like Transferwise

ofx logo

1. OFX

OFX offers transfers and exchanges into 55 different currencies, similar to the over 50 currencies that TransferWise offers. Both companies have apps for iOS and Android to allow for easy mobile transfers and tracking, and both only allow for bank-to-bank transfers without the option of cash pickup. However, unlike TransferWise, OFX has no transfer fees, no maximum transfer limit, offers scheduled and recurring transfers, and allows for same-currency transfers. If you’re a larger business looking to pay for exports or just need to transfer a larger sum to an account overseas, OFX may be ideal.

Pros

  • No transfer fees
  • 24-hour customer support
  • Available in 195 countries and 55 currencies
  • Offers scheduled and recurring transfers
  • iOS and Android apps available for mobile transfer and tracking
  • No maximum transfer limit

Cons

  • Bank-to-bank transfers only — no cash payment or pickup
  • Verify new accounts by phone
  • High minimum transfer amount of $1,000

Go to OFX website


Worldfirst sites like

2. World First

World First is an online money transfer company founded in the UK in 2004. Unlike TransferWise, World First has no maximum transfer limit, has no fees for transfers over $10,000 and allows for same-currency transfers. It also offers spot contracts, forward contracts and hedging options, as well as a promise to beat any quote you get from another international transfer service. However, World First has a high minimum transfer amount of $1,000 compared to TransferWise’s mere $1 minimum, so if you’re looking to transfer smaller amounts of money, then TransferWise may be your better bet.

Pros

  • No maximum transfer limit
  • No fees for transfers of $10,000 or more
  • Competitive exchange rates, with a promise to beat any quote you get from another international transfer service
  • Offers spot contracts, forward contracts and hedging options
  • Provides weekly updates on market exchange rates
  • Rate lock available for continuing transactions

Cons

  • High minimum transfer amount of $1,000
  • Two-step process can mean up to six days for delivery
  • Social security number and government-issued ID required

Go to the World First website


XE Money Transfer Logo” width=

3. XE Money Transfer

Like TransferWise, XE Money Transfer is a service designed to help you transfer your funds to a bank in a foreign currency and doesn’t allow for same-currency transfers. 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 TransferWise, XE has no transfer fees and trades in over 120 currencies — far surpassing the 50 currencies TransferWise allows for transfers in. XE also has no maximum transfer limit compared to TransferWise’s $49,999 daily cap.

Pros

  • No transfer fees
  • Trade in over 120 currencies, allowing for money transfers to over 170 countries
  • Competitive exchange rates save you money in the long run
  • Quick turnaround means transfer is complete in 1 to 4 days
  • High maximum transfer amount of $500,000

Cons

  • Bank-to-bank transfers only
  • No same-currency transfers
  • Exchange rate comparison tool not available until after you’ve registered with the site

Go to the XE Money Transfer website


WorldRemit Logo

4. WorldRemit

Like TransferWise, WorldRemit has a low minimum transfer amount of just $1; allows for payment with a debit card, credit card or bank account; and has transfer fees. WorldRemit allows for more pick-up options than TransferWise, letting you transfer funds to a mobile wallet account, have your recipient pickup cash or have cash delivered to their home. However, TransferWise has a greater maximum transfer limit of $49,999 compared to WorldRemit’s $5,000, so if you’re looking to transfer large amounts of money, TransferWise may be ideal for you.

Pros

  • Low minimum transfer amount of $1
  • Available in over 140 countries worldwide
  • Flexible payment options, including debit or credit card, bank transfer, Android Pay and ApplePay
  • Transfers to mobile wallet accounts
  • Cash pickup available
  • Home delivery available
  • Mobile airtime account transfers

Cons

  • The higher your transfer, the greater the transfer fees
  • Low maximum transfer amount of $5,000

Go to the WorldRemit website


travelex logo

5. Travelex

Around since 1976, Travelex is an international money transfer service in 177 countries and territories and 45 different currencies. Unlike TransferWise, which has a complex transfer fee system and doesn’t allow for same-currency transfers, Travelex offers a flat fee of $5 for transfers under $5,000, no fees for transfers over that amount and lets you transfer funds in the same currency. Moreover, Travelex has multiple transfer options including spot contracts, forward contracts, limit orders and recurring payments, as well as a price promise, in which they’ll beat any price you find within 30 minutes of using their company. But if you’re looking to send less than $500, TransferWise might be a better option, with its low minimum transfer amount of just $1.

Pros

  • Flat fee of $5 for any transaction under $5,000
  • No fee for transfers of $5,000 or more
  • Available in 177 countries and territories and 45 different currencies
  • Multiple transfer options including spot contracts, forward contracts, limit orders and recurring payments
  • Offers a price promise — if you find a better price within 30 minutes, they’ll beat it
  • Funds transferred in 1 to 4 business days, though same-day transfers are possible in select countries

Cons

  • 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

Learn more


torfx logo

6. TorFX

Unlike TransferWise, which allows you to send money from anywhere in the US, TorFX only allows money transfers from Australia. It’s a stricter money exchange and transfer company than others, and requires that funds to be cleared by individuals who hold TorFX accounts — meaning the money must be sent in advance before the transaction can be performed. TorFX offers more transfer options than TransferWise, including spot contracts, forward contracts, limit orders and stop loss orders. It also has no transfer fees, offers a best rate guarantee and has competitive exchange rates that often beat banks by more than 3%. And if you’re looking to send money in the same currency, you’re better offer going with TorFX, as TransferWise doesn’t allow for this option.

Pros

  • Multiple transfer options including spot contracts, forward contracts, limit orders and stop loss orders
  • No transfer fees
  • Competitive exchange rates with fixed exchange rate protection — often beating banks by more than 3%
  • Best rate guarantee
  • Offers transfers in 60 different currencies
  • Free registration allows you to get access to free market analysis and expert advice
  • Low minimum transfer amount of $150

Cons

  • Can only send from Australia
  • Bank-to-bank transfers only
  • Users report technical and administrative problems that delay transfers

Go to the TorFX website


currencies direct logo money transfers

7. Currencies Direct

Unlike TransferWise, which has fees dependent on how much you’re sending, Currencies Direct offers no-fee transfers 90% of the time. Both TransferWise and Currencies Direct only offer bank-to-bank wire transfers and support 50 and 60 different currencies, respectively. But if you’re looking to send large amounts of money in the same currency, you’re better off going with Currencies Direct, as TransferWise doesn’t allow for same-currency transfers and has a lower daily maximum transfer cap of $49,999 — compared to Currencies Direct’s unlimited maximum amount.

Pros

  • 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

Cons

  • No cash pickup option — bank-to-bank wire transfers only

Go to the Currencies Direct website


Western Union sites like

8. Western Union

Like TransferWise, Western Union has a low minimum transfer amount of just $1 and allows for multiple payment options including paying with your debit card, credit card or bank account. However, TransferWise only allows for bank-to-bank transfers in different currencies, whereas Western Union allows you to pay with cash or have your recipient pickup cash, and transfers can be in the same currency. If you’re looking to transfer larger amounts of money, you might be better off going with TransferWise, as Western Union has a low maximum transfer limit of $5,000 — compared to TransferWise’s $49,999 daily limit.

Pros

  • Low minimum transfer of $1
  • Send money in minutes
  • Transfer to over 200 countries and territories
  • Multiple transfer options including paying with cash or your debit card, credit card or bank account
  • Cash pickup available
  • Trusted provider for over 160 years

Cons

  • Weak exchange rates that can be nearly 5% more than the mid-market rate
  • High fees, whereas other companies offer free transfers or low-fee transfers
  • Low maximum transfer amount of $5,000

Go to the Western Union website


RIA Logo

9. 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. It is the third-largest international money transfer provider in the world. Like TransferWise, it has a low minimum transfer amount of just $1 and offers a wide variety of payment options including paying with debit card, credit card and your bank account. However, Ria also allows you to pay with cash and offers the option of cash pickup and home delivery in select countries. It has a lower maximum daily transfer cap of $2,999.99 — compared to TransferWise’s $49,999 daily cap — so if you’re looking to transfer larger amounts of money, you’re better off going with TransferWise. But don’t forget that TransferWise doesn’t allow for same-currency transfers the way that Ria does.

Pros

  • Low minimum transfer amount of $1
  • Wide variety of transfer payment options, including cash, debit card, credit card and bank account
  • Worldwide transfer network, with over 316,000 agent locations in more than 144 countries
  • Online price calculator simplifies money conversion
  • Cash pickup available
  • Home delivery option in select countries
  • Fast turnaround if you send money with a debit or credit card, taking just 15 minutes

Cons

  • 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
  • Bank account transfers take four business days

Go to the Ria website


moenygram logo

10. MoneyGram

The second-largest international money transfer service in the world, MoneyGram transfers funds in over 200 countries and territories to more than 350,000 agent locations worldwide. Both MoneyGram and TransferWise have low minimum transfer amounts of just $1 and have transfer fees. MoneyGram offers the option of paying with cash and having your recipient pickup cash or have the funds delivery to their home, something TransferWise doesn’t offer. And if you’re looking to make same-currency transfers, you’ll have to go with MoneyGram or another provider, as TransferWise doesn’t allow for this.

Pros

  • 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

Cons

  • 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

Go to the Moneygram website


Xoom Logo

11. Xoom

Xoom is a leading provider in the digital money transfer market, offering transfers to 57 countries around the world. Both Xoom and TransferWise have low minimum transfer amounts of $10 and $1 respectively and have transfer fees, but only Xoom allows for cash pickup and home delivery options. Moreover, if you’re looking to send funds in the same currency, you’ll have to go with Xoom or another provider, as TransferWise doesn’t allow for this. Xoom also offers a unique money-back guarantee if your transfer doesn’t arrive on time — a perk few transfer services offer.

Pros

  • 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

Cons

  • Transfer fees vary depending on where you’re sending money to, the amount you’re sending and the method you choose

Learn more


Sharemoney logo

12. Sharemoney

Sharemoney is a part of the Omnex group, a company that’s specialized in money transfers for over 25 years. Unlike TransferWise, which allows for transfers from any state in the US, Sharemoney is limited to only 36 states. Both Sharemoney and TransferWise have low fees starting at $2.99 and $3 respectively, as well as low minimum transfers amounts of $20 and $1 respectively. However, if you’re looking to make same-currency transfers or have cash delivery to your recipient’s door, you’ll have to go with Sharemoney or another provider, as TransferWise doesn’t allow for that. Sharemoney is largely limited to transfers to select South American and Asian countries, while TransferWise allows for transfers in over 50 different currencies around the world.

Pros

  • Low transfer fees starting at just $2.99
  • Low minimum transfer amount of $20
  • 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, which are largely limited to South America and select Asian countries
  • Exact location must be specified for cash pickup
  • Low maximum transfer limits of $2,999.99 every 15 days, and $9,999.99 every six months

Go to the Sharemoney website


Walmart Logo

13. Walmart

Known for its retailing business, Walmart offers money transfer services to over 190 countries thanks to a partnership with MoneyGram. Like TransferWise, it has a low minimum transfer amount of just $1, has transfer fees and offers the ability to pay with a debit card, credit card or bank account. If you’re looking to send money in the same currency, have your recipient pick up cash or have the money delivered to their home, you’ll have to go with Walmart or another transfer company, as TransferWise doesn’t offer those options. But where TransferWise outshines Walmart is in its maximum daily sending limit, which is $49,999 — compared to Walmart’s $6,000 daily and monthly cap.

Pros

  • Widespread network of transfers to more than 190 countries and territories with 350,000 agents worldwide
  • Efficient transfers in as little as 10 minutes
  • Wide variety of payment options, including debit card, credit card, cash or bank account
  • Home delivery and cash pickup available
  • Low minimum transfer amount of $1

Cons

  • Rates and fees depend on location of transfer
  • Maximum sending limit of $6,000 per transaction — with a maximum of $6,000 per 30 calendar days

Go to the Walmart website


Currency Online Logo

14. Currency Online

Unlike TransferWise, which offers money transfers to all residents of the US, Currency Online does not. Both TransferWise and Currency Online have low minimum transfer amounts of $1 and $50 respectively, only offer bank-to-bank transfers and exchange to over 25 different currencies. However, Currency Online allows for same currency transfers — something that TransferWise does not offer — and has no maximum transfer limit, compared to TransferWise’s $49,999 daily cap.

Pros

  • Exchanges more than 25 different currencies
  • Multiple services like spot contracts and market orders
  • Quick turnaround in 1 to 4 days
  • Low minimum transfer amount of $50
  • No maximum transfer limit

Cons

  • No cash pickup — bank-to-bank transfers only
  • Not available in the US, Japan or Quebec, Canada
  • Threshold fee charged for some amounts

Learn more


Paypal Logo

15. 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 — not quite as many currencies as the 50 TransferWise allows for trades in. Both PayPal and TransferWise have low minimum transfer amounts of $1 and have transfer fees. But PayPal outshines TransferWise with its ability to send money inside the US for free and its option to send same-currency transfers, something that TransferWise doesn’t allow.

Pros

  • Send money inside the US for free
  • Available in 203 countries
  • Offers recurring payments
  • Low minimum transfer amount of $1
  • Multiple digital safeguards in place to protect against fraud and hacking

Cons

  • Fees are proportionate to the amount transferred — the larger the transfer, the more money it charges
  • Fees vary by location of transfer and method, with better deals for using a PayPal credit card or account
  • No cash pickup available

Learn More


Services with high maximum limits

There are other services similar to TransferWise where you can send a large sum. Services with no maximum limit:

Need a service with flat fees?

Travelex offers a flat rate of $5 for transactions under $5,000. These money transfers services also offer low or no fees:

Compare minimum and maximum transfer limits

Provider Minimum transfer amount Maximum transfer amount
OFX $1,000 No limit
XE Money Transfer $0 No limit
World First $1,000 No limit
WorldRemit $1 $5,000
Travelex $500 No limit
TorFX $150 No limit
Currency Online $1 No limit
Western Union $1 $5,000
TransferWise $1 $49,999
Xoom $10 $10,000
MoneyGram $1 $6,000
Ria $1 $2999.99
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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for 100+ currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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