TransferWise Logo

TransferWise

TransferWise provides services to businesses, online sellers and individuals. It provides website access in different languages. The TransferWise Borderless Account gives businesses an easy means to make and receive payments, and you can hold funds in up to 27 currencies. The Borderless Account also gives you free receiving accounts in three major currencies.

Pros

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Lets you register as a business, an online seller or an individual
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UK-based, with offices also in the U.S., Estonia, Hungary, Ukraine, Australia, Japan and Singapore
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Multilingual website
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Send and receive funds using no more than email addresses
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Hold funds in multiple currencies
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Get free receiving accounts in U.S. dollars, British pounds and euros
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Get local phone support in different countries

Cons

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Does not provide forward contracts or market orders
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Transfer fee depends on the country of the transfer’s origin, the destination country, the transfer amount and the transfer method
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Transfers only to bank accounts
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Peer-to-peer network does not work with all countries

WorldFirst Logo

WorldFirst

WorldFirst specializes in international payments, offering services to individuals, business and online sellers. Receiving payments is quick, easy and cost-effective when you use local accounts offered by WorldFirst in the UK, Europe and Japan.

With the WorldFirst Multi-Currency Account, WorldFirst is positioning itself to compete with Payoneer for the same target markets.

Pros

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Provides services to businesses, online sellers and individuals
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Headquarters in the UK, with offices also in the Netherlands, Australia, Japan, Singapore and Hong Kong
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Website access in English, Chinese, Japanese, French and Dutch
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Local phone support in various languages
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Choose from receiving accounts in USD, GBP, EUR, CAD, CNY and JPY
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Businesses and online sellers can make supplier payments easily
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Provides unique offers for individual and business customers
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Applies a transparent margin over existing interbank/mid-market rates
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The “World Account” lets businesses and online sellers receive and make cost-effective payments in different currencies using matching currency accounts
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World Account-Xero integration is straightforward
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Provides spot orders, scheduled transfers and forward contracts

Cons

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Individual transfers only to bank accounts
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You can not use WorldFirst to send money from the U.S.
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Sending limits vary depending on where you live and your preferred payment method

Currencies Direct Logo

Currencies Direct

Currencies Direct has been around since 1996, making it one of the older players of Payoneer competitors. Headquartered in the UK, this company also has offices in France, India, Portugal, South Africa, Spain and the U.S. Access to the Currencies Direct website is in Chinese, French, Italian, Norwegian, Portuguese, Spanish and Swedish. You can use the services of this company as an individual, a business or an online seller. The minimum transfer limit is £1 (or its equivalent in another currency).  

Pros

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Website access in various languages
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Provides services to individuals, businesses and online sellers
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Gives all customers access to account managers
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UK-based company, with offices also in the U.S., China, India, France, Spain, Portugal and South Africa
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Get local phone support in several countries
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Provides travel money solutions to residents of the UK
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Allows scheduled transfers
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Lets you choose from spot transfers, limit orders and forward contracts

Cons

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Carries out only bank account transfers
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Residents of some American states can not register as customers

OFX Logo

OFX

OFX is a well established international money transfer provider.  They have been in this market since 2002.  OFX is the new global and combined brand previously known as the OzForex Group, which included UKForex, USForex, NZForex, CanadianForex, NZForex, Tranzfers, and ClearFX.  OFX has 13 years experience and a truly global presence.  OFX has offices in most major cities including Sydney, Hong Kong, London, San Francisco, Toronto and Auckland.  Learn more about OFX's global service by reading the OFX Review here.

Pros

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Provides services to individuals, businesses and online sellers
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Works in matching and beating its competitors’ rates
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No fees if the transfer amount exceeds a preset threshold limit
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Australia-based – offices also in New Zealand, the U.S., the UK and Hong Kong
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Local phone support provided in various countries
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Lets you trade online and over the phone
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Scheduling transfers is easy
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Provides spot transfers, forward contracts and market orders

Cons

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Carries out only bank account transfers
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Need to speak to an OFX representative to trade in some currencies
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Website access only in English

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