1. WorldFirst
WorldFirst is a UK based company. They offer money transfer services for both individuals and businesses alike. While their headquarters is located in London, they have offices spanning throughout Australia, Hong Kong, Singapore, the Netherlands and USA.
WorldFirst has a minimum transfer amount of $2,000, which is a lot higher than XE. However, WorldFirst don’t charge any fees for making an international money transfer no matter the amount.
- Good exchange rates for amounts between $2,000 and $10,000.
- No direct fees for making a transfer.
- Access to customer service for small business and corporate customers.
2. Wise
Wise is a peer to peer money transfer service. This makes the way they transfer your money slightly different to XE. Having said this, they’re just as secure and their website is even more user friendly. The company’s headquarters is in London and they have offices in New York and Tallinn.
Wise is often recognised for its fast transfers and highly competitive exchange rates. As an alternative to XE, Wise is a better option for smaller transfers up to $10,000.
- Offers the real exchange rate, based on the mid-market rate.
- Fees are based on a percentage of transfer amount.
- Straightforward and easy to use online through their app.
3. OFX
OFX is another excellent alternative to XE. We like them because their rates and fees are generally much lower. You can also make much larger transfers with them, if you need to. OFX have an easy to use website and app but unlike XE, do not offer cash pick-up as an option.
They are also one of the larger global transfer companies. They support international money transfers from over 190 countries in more than fifty currencies. If you’re making an online transfer, it is definitely worth looking at OFX as an alternative to XE.
- Great exchange rates across a range of currencies and amounts.
- Lower fees than XE.
- Access to 24/7 customer support.
4. TorFX
TorFX is a UK based company that are especially good for larger international money transfers. If you’re making a transfer of more than $50,000, they could be a good alternative to XE. TorFX don’t have any transfer fees, unlike XE and have excellent customer support.
They have offices spanning throughout Australia, the UK, Europe, the USA and South Africa. While XE also has phone support, TorFX are licensed to give personalised advice if you need it when making your transfer.
- They don’t charge any direct fees or commissions.
- Access to a dedicated account manager and excellent customer service.
- Great exchange rates for transfers above $10,000.
5. PayPal
If you have an account, you may have considered making an international money transfer with PayPal. They are one of the world’s most popular payment systems to purchase goods and pay for services. It is a convenient way to transfer money to people in the same country and internationally, if they also use PayPal.
If you’re thinking of using PayPal as an alternative to XE, it’s important to keep a couple of things in mind. Firstly, the person you’re sending money to must also have a PayPal account. Secondly, know that XE will generally be cheaper than PayPal.
- They are good for sending money within the same country, but can be expensive internationally.
- Accept a variety of payment methods.
- If you’ve used them before, the process is very straightforward.
