The 7 top remittance companies like Remitly [2023]

Personal Finance Tips The 7 top remittance companies like Remitly [2023] Adam Rozsa 21.06.23 (updated more than 1 year ago) 3 minute read Sending money to friends or family overseas? A convenient way to do it is with an online remittance company. One of the most popular of these is Remitly, a US-based transfer specialist. But it’s not the only option, and it pays to compare other services before settling on one. Below, we’ll run through 7 of the main Remitly competitors you can choose from. This includes Wise, which could save you money thanks to its low fees and great exchange rates. Here are the 7 top remittance companies like Remitly 1: Wise The UK-based Wise is an international money transfer specialist. Open a Wise Account and you can: Send, receive, convert and spend in 40+ currencies at once. Make international transfers to 174 countries for low, transparent fees Get the mid-market rate for currency conversion, with no mark-ups, margins or hidden fees Manage transfers on the move using the handy Wise mobile app. It’s quick, easy and free to open a Wise account online. You can set up a transfer in just a few clicks, or use the handy Wise app to manage your money on the move. See how much you can save with Wise: Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up-to-date pricing and fee information. 2: WorldRemit Another provider based in the UK, WorldRemit is an international online money transfer service with over 5.7 million customers worldwide. It supports transfers in 70+ currencies to 130 countries.¹ Although unusually, this doesn’t include destinations in Europe. With WorldRemit, you can set up and send online transfers once you have an account. There’s also a dedicated WorldRemit money transfer app. 3: Western Union Western Union (WU) is one of the biggest names in money transfers, with roots dating all the way back to 1861.² The US-based company is perhaps best known for transfers involving cash payment or pickup, as it has a huge network of agents worldwide. This makes it a useful option for sending to people who don’t have a bank account. But WU also offers a range of other delivery options, including bank deposits and mobile wallets. You can use Western Union to send money across the US, or to one of 200+ countries.² There’s also a WU mobile app for setting up and tracking transfers on the move. 4: MoneyGram The Texas-based MoneyGram is an international money transfer company with over 150 million customers. With a history dating back over 80 years, it supports payments in major currencies to 200+ countries and territories.³ There are lots of ways to send and receive money with MoneyGram. You can do it online, via the mobile app or even in person at one of over 430,000 locations.³ 5: OFX OFX is an Australian money transfer service which launched in 2001. It offers transfers to 170+ countries in over 50 currencies.⁴ The company has an online platform and a dedicated OFX mobile app. In the app, you’ll also find useful features like exchange rate alerts, live rates and prices 24/7. See how OFX compares to other providers like Wise here. 6: Xoom A PayPal service, the US-based Xoom offers easy and secure online transfers to over 160 countries.⁵ There’s a choice of payment methods, including PayPal of course. And you can also choose from delivery options such as bank deposit and cash pickup. There’s a dedicated Xoom mobile app too. Also useful to know – Xoom offers a money-back guarantee, so you’ll get a full refund if your money doesn’t arrive.⁶ 7: XE The Canadian foreign exchange specialist XE lets you send money online or in the XE App to over 170 countries. It supports payments in more than 100 currencies.⁷ You’ll have a choice of delivery methods when you send money with XE. This includes bank deposit, cash pickup and mobile wallets (depending on destination). Once you’ve signed up for a free account, you’re good to go. Bottom line So as you can see after reading this guide, Remitly is far from the only online transfer service out there. We’ve given you a handy list of Remitly competitors, so you can shop around and find the best one for you. Just remember to compare exchange rates as well as fees. Look for providers such as Wise which stick to the mid-market exchange rate with no margin on top – it could save you serious cash. To make it easier, why not compare prices for your transfer here at Wise? This is a quick way to see the fees and exchange rates for all providers (including Wise) at any given time. Learn more about Wise Sources used for this article: WorldRemit – About us Western Union – About Us MoneyGram – About OFX – About us Xoom – About Xoom – Send money XE – Send money Sources checked on 05-Jun-2023. *Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date. Money without borders Find out more Personal Finance How to send money from PayPal to Wise Wondering if you can send money from PayPal to Wise? In this article, we’ll cover the possibilities. Alexis Konovodoff 15.10.24 4 minute read Personal Finance 5 pieces of financial advice every first-generation American needs For many of us who are first-generation Americans, financial literacy isn’t something we learn from our parents – and we’re definitely not taught about money… Yanely Espinal 30.08.24 2 minute read Personal Finance Discover it balance transfer credit limit Everything you need to know about Discover It balance transfer limits. Gabriela Peratello 24.06.24 5 minute read Personal Finance 6 ways to avoid ATM fees in Europe Save when traveling to Europe by reading our guide on avoiding ATM fees. Gabriela Peratello 20.06.24 6 minute read Personal Finance Sendwave vs Wise: Which one is better in 2024? Sendwave vs Wise: Comparing features, benefits, and more. Explore this article for insights on international money transfers. Adam Rozsa 29.08.23 4 minute read Personal Finance Should I exchange money before I travel to Europe? Should I exchange money before traveling to Europe? Gain insights in this article for making informed decisions about currency exchange before your trip. Adam Rozsa 29.08.23 4 minute read