Sites like Paypal for international money transfers
Send money to family, friends or businesses with these alternatives to 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. While PayPal is like a digital banking service, its rates are competitive compared with most banks and financial institutions, making it a good choice to avoid headaches.
Pros
- Low minimum transfer rates
- Available in 203 countries
- Offers recurring payments
- Excellent for smaller transfers
- 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 they take.
- Fees vary by location of transfer and method, with better deals for using a PayPal credit card or account
Wise
Wise 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.
Pros
- Maximum 1% fee.
- £3 minimum fee.
- Minimum transfer of £1.
- Maximum transfer of £1 million.
- Apps for both iOS and Android.
- Uses mid-market exchange rate with no hidden fees.
Cons
- Transfers to bank accounts only. No cash pickup option.
CurrencyFair
CurrencyFair uses peer-to-peer technology to offer fast and affordable international money transfers. With its own foreign exchange marketplace, exchanges offered are set by its users. CurrencyFair offers a simple three-step transfer process to make it quick and easy to send money globally
Pros
- Better exchange rates than banks.
- Low fees – compare fees to other providers.
- Simple and convenient transfer process.
- Mobile app for transfers on the go.
Cons
- There is no online chat service for customer support.
Xendpay
Xendpay allows you to send money to friends and family in 147 countries. Xendpay’s main selling point is ‘pay what you want’ when it comes to fees. These fees are translated in to their rates, so they’re still making roughly the same as other providers! However, their rates do fare well against the competition.
Pros
- 147 countries to send money to.
- Competitive pricing.
- FCA regulated, so your transfers are secure.
- iPhone app for transfers on the go
- Competitive rates.
Cons
- Rate comparison tool not available until after you’ve registered with the site.
- ‘Pay what you want’ applies only to the first £2,000 you send.
- It can take up to 4 days for your recipient to receive the funds.
HiFX
HiFX is a service designed to help you transfer your funds to a bank in a foreign currency. If you’re working far from home, HiFX 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.
Pros
- One of the most trusted money transfer names in the UK.
- Competitive exchange rates save you money in the long run.
- Quick turnaround means transfer is complete in 1 to 4 days.
Cons
- Rate comparison tool not available until after you’ve registered with the site.
Global Reach
Global Reach offers international money transfer solutions to customers in the UK and around the world, handling over £4Bn in transactions since its inception in 2005. Global Reach offer a ‘Best Exchange Rate Guarantee’, offering affordable transfers with excellent customer service.
Pros
- If you transfer more than £10,000 overseas you will not have to pay any transfer fees.
- Transfer money in 35 currencies
- Match any exchange rate quote you receive from another provider
- Phone, email and live chat customer support, with impressive customer satisfaction ratings.
Cons
- No cash pickup option.
- Does not support all currencies (though you can contact them if yours isn’t listed).
Still looking for other options?
Table: sorted by promoted deals first
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Alternatively, learn more about PayPal in our review.
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