TransferMate Alternatives and Competitors

September 7, 2020

Ireland-based TransferMate has been around since 2010. While this overseas money transfer company caters mainly to business clients, it serves individuals as well. When looking for a TransferMate alternative, consider a number of variables and your business and your individual requirements.

Fee-free transfers
Competitive exchanges rates
Limit orders
Multilingual website and customer service

low

Fees

medium

2-3 days

Go to Site

Bank account transfers and cash transfers
Mobile airtime and mobile wallets top up
Home delivery of transferred funds
Multicurrency WorldRemit Wallet
Multilingual website

medium

Fees

fast

1-2 days

Go to Site

Transparent fee structure
Send money to email addresses
Multicurrency account with debit card
Multilingual website & app

low

Fees

fast

1-2 days

Go to Site

0.4% margin for new customers referred by iCompareFX
Fee-free transfers
Scheduled transfers
Online and phone transfers

low

Fees

medium

2-3 days

Go to Site

Jump to an alternative provider

XE Money Transfer

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WorldRemit

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TransferWise

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OFX

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XE Money Transfer

Canada-based XE began operations in 1993. It serves individuals and businesses. The company operates dedicated websites for residents of the U.S., the UK, Canada, Australia and New Zealand. Website access comes in different languages. XE (formerly HiFX) provides fee-free personal transfers

Lets you register as an individual or a business

Canada-based – offices also the U.S. and the UK

Operates dedicated websites for the U.S., Canada, the UK, Australia and New Zealand

Pay no fees for personal transfers

Lets you hedge funds using limit orders

Operates a multilingual website

Provides customer service in English, Spanish and French

No cash pickup centers and agent locations

No scheduled transfers

WorldRemit

WorldRemit began operations in 2010. This UK-based alternative to TransferMate also has offices in the U.S., Canada, Japan, Australia and New Zealand. This company only services individuals. It lets you transfer funds to cash pick up locations. Access to the WorldRemit website comes in different languages. You can pay using credit cards.

UK-based – offices also in the U.S., Canada, Australia, New Zealand and Japan

o in the U.S., Canada, Australia, New Zealand and Japan

Transfer as little as £1 or its equivalent in another currency

Country-specific transfer methods include transfers to bank accounts, cash pickup centers, mobile wallets, and mobile airtime

Get phone assistance in different countries

Does not provide services to business clients

Transfer costs vary according to the transfer method, transfer amount and currencies involved

Does not provide limit orders, forward contracts or scheduled transfers

Where you live and the desired transfer method may affect transfer limits

TransferWise

TransferWise is a UK-based TransferMate competitor that began operations in 2011. It also has offices in the U.S. and Estonia. You may register as an individual or a business. You can access the TransferWise website in different languages. The TransferWise Borderless account gives you an easy way to receive payments and hold funds in multiple currencies. Depending on where you live, you may be able to pay using credit cards.

Headquartered in the UK – offices also in the U.S., Estonia, Hungary, Ukraine, Japan, Singapore and Australia

Dedicated websites for residents of the U.S., the UK, Canada, Spain, Italy, France, Germany, Switzerland, Brazil, Australia, New Zealand, Japan and Singapore

Website access in different languages

No minimum transfer limits

Transfer funds using email addresses

With the Borderless Account, you’ll get a local banking experience in multiple currencies

Phone support provided in different countries

Not all countries are part of its peer-to-peer network

Transfer costs depend on the destination country, transfer amount, payment method and currencies involved

No limit orders, forward contracts or scheduled transfers

No cash pickup centers and agent locations

OFX

Founded in 1998, this TransferMate alternative operated as OzForex until 2015. Headquartered in Australia, this company also has offices in the U.S., the UK, New Zealand, Canada and Hong Kong. OFX provides services to individuals, businesses, and online sellers. Its website is only in English.

Serves individuals, businesses and online sellers

Australia-based – offices also in the U.S., the UK, Hong Kong and Canada

Operates dedicated websites for residents of the U.S., the UK and Australia

Local phone support provided in different countries

Transfer more than preset thresholds and pay no fees

Offers spot contracts, limit orders, forward contracts and scheduled transfers

Lets you initiate your transfer online and over the phone

With some currencies, you can trade only over the phone

No multilingual website

Absence of cash pickup centers and agent locations

Personal

Business