TransferWise has been operating since early 2011. Established in Estonia, this XE alternative has its headquarters in the UK. It also has offices in Estonia and the US. You can use the TransferWise website in English, Dutch, Spanish, Italian, French and Portuguese.
What sets TransferWise apart from most of its competitors is its method of routing payments. The money does not go directly from the sender to the recipient. Instead, TransferWise redirects the sender’s money to a recipient of a transfer going in the opposite direction. Then, the intended recipient receives a payment from a sender of an equivalent transfer from the same country. This way, TransferWise manages to avoid transfers beyond borders and minimizes currency conversions.
Despite the seemingly long process, using TransferWise to send money overseas can be faster than banks and other money transfer companies. Learn more about TransferWise.
WorldRemit is a UK-based company that began operations in 2010. It has its headquarters in London, with offices also in Denver, Montreal, Sydney, Auckland and Tokyo. Apart from English, you can use the WorldRemit website in French and Spanish. The company provides services only to individuals, and not businesses. Read the WorldRemit review for more information.
This alternative to XE began operations in 1998, as OzForex. It rebranded itself as OFX in 2015. Since its inception, this money transfer company has grown from an Australian foreign exchange information website to a business that provides specialist money transfer services to people from different parts of the world. Aside from Down Under, it has a strong presence in the Asia Pacific, the UK, US, Canada and Europe.
Its headquarters are in Sydney, with offices in New Zealand, US, Canada, the UK and Hong Kong. UKForex, USForex, CanadianForex, and NZForex were part of the OFX Group. Now, the company operates dedicated websites for different regions. Read an extensive review of OFX.
Originating in 2009, CurrencyFair has its headquarters in Ireland. It also has offices in the UK and Australia. While this Western Union competitor provides its customers with a single website, you can access it in English, Polish and French. One aspect about this money transfer company that you won’t find with other many of its competitors is the unique CurrencyFair Exchange. This platform lets you bid for preferred exchange rates, giving you the ability to get better-than-prevailing market rates. Read the detailed CurrencyFair review to keep track of updates.