XE Money Transfer Logo

XE Money Transfer

XE began operations in 1993. It provides international money transfer services to individuals and businesses. XE Money Transfer is better than Travelex if you’re emigrating or purchasing property overseas. All personal transfers come with no fees. XE Money Transfer operates dedicated websites for different countries.

Pros

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Accepts individual and business clients
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No fees for personal transfers
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Provides spot contracts and limit orders
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Headquartered in Canada, offices also in the U.S. and the UK
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Dedicated websites for residents of Canada, the U.S., the UK, Australia and New Zealand
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Get customer service and website access in different languages

Cons

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Only bank account transfers
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Does not provide scheduled transfers

TransferWise Logo

TransferWise

TransferWise began operations in 2011. This peer-to-peer international money transfer company has its headquarters in the UK, with offices in Estonia and the US. As with most prominent Travelex competitors, it lets you make payments using bank transfers and debit cards. However, unlike many overseas money transfer companies, it also allows payments through credit cards. To find out more about this service provider, read the TransferWise review.

Pros

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Provides services to individuals and businesses
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Simplify signing up using your Google or Facebook account
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Use the “send” and “receive” money options to transfer funds with no more than email addresses
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No minimum transfer
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Pay for your transfer using country-specific methods such as debit cards, credit cards, bank transfers, direct debits, SOFORT, and POLI
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Businesses can open TransferWise Borderless accounts to save in fees when trading in more than 15 currencies
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Headquartered in the UK – offices also in the U.S., Estonia, Hungary, Ukraine, Singapore, Japan and Australia
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Use its website in English, Spanish, French, Portuguese, Italian or Dutch

Cons

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Only bank account transfers
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Transfer fee depends on the destination country, the amount transferred and the payment method
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Does not offer forward contracts or limit orders
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Cannot schedule transfers
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Peer-to-peer transfer facility not available in all countries

WorldRemit Logo

WorldRemit

This UK-based alternative to Travelex began offering international fund transfer services in 2010. The company provides its services to residents of as many as 50 countries. Access to its website comes in English, French, and Spanish. Other than its headquarters in the UK, WorldRemit also has offices in the U.S., Canada, Japan, Australia and New Zealand.

Pros

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Different country-specific transfer methods
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Transfer to bank accounts or cash pick up locations
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Top up mobile wallets or airtime
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Minimum transfer limit is £1
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Headquartered in the UK – offices also in the U.S., Canada, Australia and New Zealand
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Use its website in English, Spanish or French

Cons

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Accepts only personal customers
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Transfer fee varies according to the currencies involved, the amount being transferred, and the transfer method
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Where you live and the chosen transfer method affect transfer limits
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Does not allow scheduling of transfers
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No forward contracts and limit orders

OFX Logo

OFX

Previously known as OzForex, this alternative to Travelex has been in business since 1998, when it began operations as an information only website. Now, it has over 200 employees that serve customers through its offices in Australia, New Zealand, the UK, the U.S., Canada and Hong Kong. Within the countries it operates from, this Travelex competitor deserves your attention. Continue reading about the OFX review here.

 

Pros

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Serves individuals, businesses and online sellers
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Aims to match or beat its competitors’ rates
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Fee-free threshold limits enable free transfers
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Lets you schedule transfers easily
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Provides spot orders, forward contracts and market orders
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Initiate your transfer online or over the phone
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Headquartered in Australia – offices also in New Zealand, the U.S., the UK and Hong Kong
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Provides local phone assistance in some countries

Cons

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Only bank account transfers
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No multilingual website
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Can trade in a few currencies only over the phone

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