XE Money Transfer Logo

XE Money Transfer

Canada-based XE began operations in 1993. Now, it is part of Euronet Worldwide, one of the largest money transfer businesses in the world. This Xoom alternative has dedicated websites for residents of Canada, the UK, Australia, New Zealand and the U.S. It lets you carry out personal transfers without paying any fees. You may use the XE money transfer website in multiple languages. Continue reading the XE review here.

Pros

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Serves individuals and businesses
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Provides limit orders
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Fee-free personal transfers
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Headquartered in Canada, offices also in the U.S. and the UK
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Dedicated websites for Canada, U.S., the UK, Australia and New Zealand
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Multilingual website
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Get customer service in English, Spanish or French

Cons

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No scheduled transfers
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No cash pick up centers

TransferWise Logo

TransferWise

TransferWise, a specialist money transfer alternative to Xoom, was developed in Estonia in 2011. Now, it has its headquarters in the UK, with offices in Estonia and the U.S. You can use the website of this peer-to-peer money transfer company in English, Dutch, Spanish, Italian, French and Portuguese. While you can make payments to this Xoom competitor using bank transfers and debit cards, it lets you use credit cards as well. For more information, start reading the complete TransferWise Review now.

Pros

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Serves individuals and businesses
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Lets you sign up using your Google or Facebook account
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No minimum transfer amount
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Payment methods, depending on where you live, can include bank transfers, direct debits, debit cards, credit cards, POLI and SOFORT
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Use the “send” and “receive” money options to transfer funds using only email addresses
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Businesses can use the TransferWise Borderless service to save when transacting in more than 15 currencies
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Headquartered in the UK, offices area also in Hungary, Ukraine, the U.S., Australia, Singapore and Japan
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Multilingual website

Cons

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Does not provide peer-to-peer transfers in all countries
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Does not schedule transfers
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No limit orders or forward contracts
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Transfer fee varies according to the destination country, the transfer amount and the mode of payment
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No cash pick up centers

WorldRemit Logo

WorldRemit

WorldRemit is another Xoom competitor that began operations in 2010. This company has its headquarters in the UK, with offices also in the U.S., Canada, Australia, New Zealand and Japan. You can use the WorldRemit website in English, French, and Spanish. You can pay for your transfer via an electronic bank transfer, a debit card or a credit card.

Pros

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Choose from different country-specific transfer methods
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Carries out bank account transfers and international transfers to cash pick up centers
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Lets you top up mobile wallets and mobile airtime
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Minimum transfer amount 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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Multilingual website

Cons

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No services offered for businesses
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Does not let you schedule transfers
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No limit orders and forward contracts
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Transfer fee varies according to the currencies involved, the amount being transferred and the transfer method
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Sending limits depend on your country of residence and the mode of transfer

OFX Logo

OFX

OFX began operations in the form of OzForex, also in 1998. However, at that time it functioned as no more than an information-only website. Now, it is among the leading players in the field, offering services that are cheaper and faster than banks. The transformation from OzForex to OFX took place in 2015. While the OFX website caters to global customers, the group had other websites as well. UKForex was for residents of the UK, Americans could use USForex , NZForex was for New Zealanders, and Canadians used Canadian Forex. To learn more about read the detailed OFX review.

Pros

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Register as an individual, a business or an online seller
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Schedule transfers with ease
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Provides limit orders and forward contracts
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Lets you transfer funds online or over the phone
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Tries to offer rates that match or beat those offered by its competition
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No fees when you transfer more than preset threshold limits
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Headquartered in Australia, offices also in New Zealand, the U.S., the UK and Hong Kong
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Local phone support provided in different countries

Cons

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Have to trade some currencies over the phone
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No multilingual website
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No cash pick up centers

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