5 Similar Remittance Companies like WorldRemit
Making an international money transfer is becoming easier. If you’ve used WorldRemit before, you may be interested in alternative money transfer companies. Some of them also offer affordable and convenient ways to transfer money overseas. In this article, we take a look at companies that offer similar services to WorldRemit.
5 Similar Sites to WorldRemit
Below are 5 alternative companies you can use to WorldRemit. We’ve taken their level of convenience, cost and security into consideration so you can decide who to use for your next international money transfer.
InstaReM is similar to a money transfer service like WorldRemit. They good at sending small amounts of money (or remittances) to similar countries like India, Pakistan and the Phillipines.
Unlike WorldRemit, they offer the wholesale or 'mid-market' exchange rate. This means you don't need to worry about hidden fees or loaded exchange rates.
Another difference is the fees. InstaReM charge a percentage based service fee that is usually between 0.25% and 1% while WorldRemit charges flat fees.
They support international money transfers from over 55 countries in more than fifty currencies. If you’re making an online transfer, it is definitely worth looking at InstaReM as an alternative to WorldRemit.
- Great exchange rates across a range of currencies and amounts.
- Low fee
- Access to 24/7 customer support.
Learn more about InstaReM
TransferWise is a peer to peer money transfer service. Therefore, the way they transfer your money is different to WorldRemit. Having said this, they’re just as secure and their website is also user-friendly. The company’s headquarters is in London and they have offices in New York and Tallinn.
TransferWise is often recognised for fast transfers and highly competitive exchange rates. As an alternative to WorldRemit, TransferWise is a great option for smaller transfers up to $10,000.
- Offers the real exchange rate, based on the mid-market rate.
- Fees are based on a percentage of transfer amount.
- Straightforward and easy to use online through their app.
Learn more about TransferWise
Like WorldRemit, OFX have an easy to use website and app. So if you like doing everything online, either could be a good option. They are also one of the larger global transfer companies. This means they operate in many of the same countries that WorldRemit do.
OFX support international money transfers from over 190 countries in more than 55 currencies. If you’re making an online transfer, it is definitely worth looking at OFX as an alternative to WorldRemit.
Fee Free Offer
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- After 20 years, OFX is one of the oldest money transfer companies and they have the expertise to go with it.
- Their rates are often better than the banks, especially for larger transfers.
- 24/7 phone support.
- They have a minimum transfer amount of $250
- Receiving or intermediary banks may charge fees on transactions
Learn More About OFX
TorFX is also a UK based company that are especially good for larger international money transfers. If you’re making a transfer of more than $10,000, they could be a good alternative to WorldRemit. Unlike WorldRemit, TorFX do not have any transfer fees.
TorFX have offices spanning throughout Australia, the UK, Europe, the USA and South Africa. Unlike WorldRemit, who have limited phone support, TorFX are licensed to give personalised advice to you over the phone if you need it when making your transfer.
- They don’t charge any direct fees or commissions.
- Access to a dedicated account manager and excellent customer service.
- Great exchange rates for transfers above $10,000.
Learn more about TorFX
If you have a PayPal account, you've probably already considered making an international money transfer with them. They are one of the world’s most popular payment systems to purchase goods and pay for services. It's a convenient way to transfer money to people in the same country and internationally, especially if they also use PayPal.
If you’re thinking of using PayPal as an alternative to WorldRemit, it’s important to keep a couple of things in mind. Firstly, the person you’re sending money to must also have a PayPal account. Secondly, transferring money using WorldRemit will generally be cheaper than PayPal