WorldFirst Alternatives and Competitors

September 7, 2020

What sets WorldFirst apart from most of its competitors is that it processes transfers using completely transparent exchange rates. In addition, it also follows a clear pricing band based on how much money you expect to transfer each year.

While WorldFirst provides individuals and businesses with an easy means to send money overseas, so do many of its competitors. What you should know at the onset is that using WorldFirst for international fund transfers is cheaper than turning to banks. However, more than one WorldFirst competitor fits this bill, so it’s best to compare several before making a decision.

The WorldFirst alternative that suits you best depends on different factors. These include your country of residence, how you wish to transfer money, and the amount you want to send.

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

low

Fees

medium

2-3 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

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

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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TransferWise

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WorldRemit

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OFX

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XE Money Transfer

XE is a Canada-based overseas money transfer company that has been around since 1993. It merged with HiFX in 2019. This WorldFirst competitor provides international money transfer services to individuals and businesses. All personal transfers carried out through XE Money Transfer are fee-free. The company operates a multilingual website.

Provides services to individuals and businesses

Provides fee-free personal transfers

Lets you choose from spot contracts and limit orders

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

Dedicated websites for residents of Canada, the U.S., the UK, Australia and New Zealand

Website access and customer service in various languages

No cash pick up centers

Does not provide scheduled transfers

TransferWise

Developed in Estonia by Skype's first employee along with a financial consultant associate, this WorldFirst alternative began operations in 2011. Headquartered in the UK, this money transfer company also has offices in Estonia and the US. TransferWise operates as a peer-to-peer money transfer company. As a result, it can avoid transfers crossing borders and the resultant currency exchange fees.

If you wish to send money overseas using your credit card, TransferWise is a better option than WorldFirst. While the former accepts credit card payments, the latter does not. Find out more about this money transfer company by reading the complete TransferWise review.

Simplify the registration process by using your Google or Facebook account

No minimum transfer amount

Use the “send money” and “receive money” functionalities to transfer funds using only email addresses

Businesses can use the Borderless service to save when transacting in over 15 currencies

Payment methods, depending on where you live, can include direct debits, bank transfers, debit cards, credit cards, SOFORT, and POLI

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

Website access in different languages

No cash pick up centers

Does not provide peer-to-peer transfers in all countries

Unavailability of hedging tools such as forward contracts and limit orders

Does not allow scheduled transfers

The destination country, the payment method, and the transfer amount have a bearing on transfer fees

WorldRemit

This WorldFirst competitor also has its headquarters in the UK. It began operations in 2010, and now has offices in Australia, New Zealand, Japan, the U.S. and Canada. The company offers its services to residents of 50 countries, providing website access in English, Spanish, and French. Learn more in this WorldRemit review.

Multiple destination-country dependant transfer methods

Transfer to bank accounts or cash pick up centers

Top up mobile wallets or mobile airtime

The minimum you can transfer is £1

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

Multilingual website

Serves only individual clients and not businesses

Unavailability of forward contracts and limit orders

Cannot schedule transfers

Your country of residence and the desired transfer method have a bearing on transfer limits

Transfer fees depend on the currencies involved, the transfer amount, and the transfer method

OFX

Previously known as OzForex, OFX is an Australian-based foreign exchange and payments company. It provides money transfer services to individuals and small businesses. OFX has its headquarters in Sydney, along with offices in New Zealand, the UK, U.S., Canada and Hong Kong. The OFX Group previously included UKForex, USForex, NZForex and CanadianForex. If you live in a country where this money transfer company provides its services, using it to send money overseas can offer significant advantages.

Serves individuals, businesses and online sellers

Lets you initiate transfers online and over the phone

Strives to match or beat rates offered by its competitors

Transfer more than preset threshold limits and pay no fees

Provides forward contracts and market orders

Schedule transfers according to your needs

The OFX Global Currency Account gives online sellers access to bank account details in various currencies

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

Get assistance over the phone in different countries

No cash pick up centers

Website access only in English

You have to speak to an OFX representative over the phone to trade in some currencies