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WorldFirst

This UK-based Revolut competitor also has offices in the Netherlands, Japan and Hong Kong. It provides services to individuals, businesses and online sellers. If you sign up for the World Account, you get access to free receiving accounts in USD, CAD, GBP, EUR, AUD, NZD and JPY. World First operates multilingual region-specific websites.

Pros

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Register as an individual, a business or an online seller
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Sign up for the World Account as a business or an online seller
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Offices in the UK, the Netherlands, Japan and Hong Kong
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Multilingual websites for the UK, the Netherlands, France, Singapore and Japan
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Charges a transparent margin over existing interbank/mid-market currency exchange rates, which varies depending on your expected annual transfer amount
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Set up forward contracts and scheduled transfers
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The World Account comes with receiving accounts in USD, GBP, EUR, AUD, NZD, JPY and CAD – you may use these accounts to save on currency conversion fees
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You can connect your World Account with Xero
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Initiate your transfer online or over the phone Cons

Cons

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Where you live may affect sending limits
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Can not access funds in your World Account by using a card
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Does not accept customers from the U.S.

TransferWise Logo

TransferWise

TransferWise is a UK-based international money transfer company. It also has offices in Estonia, Ukraine, Hungary, the U.S., Hong Kong and Singapore. While this company provides services to individuals and businesses, it is among the few alternatives to Revolut that also serves online sellers. It operates multilingual region-specific websites. The Borderless Account made available to businesses and online sellers comes with fee-free receiving accounts in USD, GBP, EUR, AUD and NZD. The TransferWise Mastercard gives you easy access to money in your Borderless Account.

Pros

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Sign up as an individual, a business or an online seller
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Use your Facebook or Google account to quicken the registration process
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Offices in the UK, Estonia, Ukraine, Hungary, the U.S., Hong Kong and Singapore
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Multilingual websites for the UK, France, Italy, Germany, the U.S., Canada, Australia, New Zealand, Japan and Singapore
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Depending on where you live, you may pay using a credit card
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The Borderless Account gives you access to receiving accounts in USD, GBP, EUR, AUD and NZD
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Use the TransferWise Mastercard to access funds in your Borderless Account globally
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Use the Borderless Account to hold funds and make transactions in more than 40 currencies
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The Borderless Account lets you transfer funds to over 50 countries

Cons

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Not all foreign currency corridors supported by its peer-to-peer network
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Does not provide forward contracts, market orders and scheduled transfers
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Transfer fees may vary depending on the currencies involved, the payment method and the transfer method

Payoneer Logo

Payoneer

Depending on where you live, you may use the services of this U.S.-based Revolut alternative to make and/or receive payments. Payoneer customers get access to receiving accounts through the company’s Global Payment Service. This gives them the ability to receive payments in the form of local transfers from the U.S., the UK, the Eurozone, Australia, Canada, Japan and China. Online sellers may use the company’s services to receive payments from different e-commerce marketplaces.

Pros

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Payoneer offers receiving accounts in USD, CAD, GBP, EUR, AUD, JPY and CNY
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Lets you hold funds and transact in multiple currencies
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Use the Payoneer Mastercard to access funds in your account globally
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Make payments using bank account transfers, debit cards or credit cards

Cons

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Money can only be sent to other Payoneer users
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Country limitations
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The Payoneer Mastercard comes with an annual fee

OFX Logo

OFX

OFX is an Australia-based Revolut competitor that also has offices in New Zealand, the UK, the U.S., Canada and Singapore. You may sign up as an individual, a business or an online seller. The OFX Global Currency Account offers free receiving accounts in USD, CAD, GBP, EUR, AUD and HKD. It is also compatible with most popular e-commerce marketplaces. Businesses may use the Global Currency Account to make payments in the same currency and to pay suppliers directly. The company operates dedicated region-specific websites, which are available only in English.

Pros

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Serves individuals, businesses and online sellers
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Offices in Australia, New Zealand, the UK, the U.S., Canada and Singapore
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No fees for personal transfers
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Lets you set up market orders, forward contracts and scheduled transfers
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Sign up for the OFX Global Currency Account and get free receiving accounts in USD, CAD, GBP, EUR, AUD and HKD
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Initiate transfers online or over the phone
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Get local phone support in various countries

Cons

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Can not access funds in the OFX Global Currency Account by using a card
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No multilingual websites
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Allows transfers of some currencies only over the phone

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