Global connections are growing fast, making it key to find good ways to send money across borders. Remitly is well-known, but there are others with better rates and more to offer. This guide looks at top rivals like Wise and WorldRemit, showing what makes them special.
For those looking for safe money transfer services, Wise and WorldRemit are great options. Wise is known for being upfront about costs and offers a multi-currency account. It supports sending up to $50,000 daily with debit cards and $2,000 with cards, meeting many needs.
WorldRemit is another top choice, sending money in over 70 currencies to 130 countries. It’s fast and easy to use, with many transfers done in minutes. Plus, it offers great exchange rates, helping users save money on international transfers.
Looking into these alternatives helps users pick the best service for their needs. Whether it’s the best rates, wide coverage, or special features, knowing your options is key. This way, you can find the most efficient app for sending money abroad.
Why Consider Alternatives to Remitly?
Remitly makes sending money abroad easy, but other services offer even more benefits. Wise, for example, uses the mid-market rate without extra fees. This makes it cheaper than Remitly, which charges up to 3.0% more.
Wise’s fees start at 0.43% and change based on the money you send. It also has a high Trustpilot score of 4.2 out of 5. This shows users like its clear fees and easy use. Remitly has a score of 4 out of 5, showing it’s reliable but not as highly rated.
Currencies Direct is another great choice. It offers custom currency solutions and expert help. This is perfect for big money transfers where you need precise advice.
It’s important to compare money transfer services to find the best. Wise has no margin on exchange rates, adding fees to each transfer. Remitly’s fees can change, sometimes giving discounts for big transfers but adding extra for quick service.
| Service | TrustPilot Rating | Fees | Processing Time |
|---|---|---|---|
| Wise | 4.2/5 | Starting at 0.43% | Minutes to 4 business days |
| Remitly | 4/5 | 0.5% to 3.0% markup | 2 to 3 days |
| TransferGo | 4.7/5 | Varies | 1 business day |
| Xoom | 4/5 | Varies by country | Minutes to 1 day |
| Currencies Direct | 4.5/5 | No fee | 1 to 3 days |
Learning about Wise’s benefits and Currencies Direct’s advantages helps you choose wisely. Think about cost, speed, and user satisfaction. This way, you get the best service for your money transfers.
Guide to Apps Like Remitly
The world of international remittance apps is full of choices beyond Remitly. Each app has its own strengths and features. Knowing these can help you pick the best one for your needs.
Wise: Wise is known for being cost-effective and easy to use. It offers great exchange rates and avoids high fees by using local bank accounts. The Wise app review shows its Pro feature is a big plus. It saves on fees and is transparent about costs.
Xoom: Xoom serves nearly 160 countries and is fast. It’s a good choice for quick transfers. Xoom also offers lower costs than traditional services.
OFX: OFX covers over 170 countries and has no transfer fees. It also has low exchange rate markups, saving you money on big transfers.
Comparative Overview: When picking an app, think about cost, speed, limits, and user experience. Here’s a quick look at some alternatives:
| App | Coverage | Fees | Transfer Limits |
|---|---|---|---|
| Wise | Multi-country | Less than 1% | No limit |
| Xoom | 160 countries | Varies | $50,000/day |
| OFX | 170 countries | No transfer fees | No limit |
| Western Union | 200+ countries | Varies | $5,000/transfer |
Each app has its own benefits. Wise is great for saving money, while Xoom is fast. OFX is good for big transfers. Choose based on what you need.
Conclusion: Banks are often the most expensive for international transfers. Apps like Wise, Xoom, and OFX are cheaper. They ensure your money gets there fast and safely, without high fees.
Choosing the Right Service for You
When picking money transfer services, consider speed, fees, and currency choices. Wise (formerly TransferWise) and Remitly have their own benefits. Wise, based in London, has over 16 million customers. It uses the mid-market rate and charges a fee starting at about 0.35% of the amount sent.
Remitly, in Seattle, has served over five million clients. It’s known for quick transfers and flexible payout options. Both Wise and Remitly are regulated by the Financial Conduct Authority (FCA) in the UK and FinCEN in the US. This ensures safe transfers. Wise also has a user-friendly app that makes managing transfers easy.
Currencies Direct offers personalized advice on currency markets. XE Money, based in Canada, has clear fees and supports transfers to over 130 countries. Each service aims to meet different financial needs, giving users the best options for sending money.
