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Alternatives to Wise (TransferWise)

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

Wise 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 Wise 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.

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Why pick XE Money Transfer instead?

  • Low transfer fees
  • Transfers of up to $500,000
  • 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.

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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
  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.

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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.

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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 Wise but varies where it really matters — fees and limits.

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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 Wise are better for smaller transfers, as they both have low minimum transfer amounts of $1.

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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?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Alternatively, learn more about Wise in our review.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers diverse transfer options to more than 120 countries.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

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Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Instarem
Within an hour
$1

View details
Exclusive: Use code GET60 and save $30 on each transaction over $200. Valid for the first two transactions and till 31st July 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

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Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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