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PayPal alternatives for international money transfers

Send money to family, friends or businesses with these alternatives to PayPal.

You likely know PayPal's digital service for online purchases, but you may not know that it supports wireless overseas transfers. Its popularity around the world makes it possible to transfer money across more than 200 countries. While PayPal is like a digital banking service, its rates are competitive compared with most banks and financial institutions, making it a good choice to avoid headaches.

But there might be cheaper alternatives out there. Check out our list to see if another service might suit your needs better.

Sites like PayPal

1. Wise

Wise is a money transfer site designed to help you save money on exchanges by offering the mid-market exchange rate. Its costs are covered with a variable fee per transfer instead.

Pros

  • Offers mid-market exchange rates
  • Competitive fees depending on transfer amount and options
  • Low minimum transfer amount of $1
  • High transfer limits

Cons

  • Variable fees
  • Transfers to bank accounts — no cash pick-up option

2. WorldRemit

WorldRemit has a wide range of currencies on offer, but like PayPal has fees that are higher the more money you transfer. Unlike PayPal though, WorldRemit allows for cash pick-up, home delivery and mobile airtime account transfers.

Pros

  • Available in over 140 countries worldwide
  • Flexible payment options, including debit or credit card, bank transfer, Android Pay and ApplePay
  • Transfers to mobile wallet accounts
  • Cash pickup available
  • Home delivery available
  • Mobile airtime account transfers

Cons

  • The higher your transfer, the greater the transfer fees
  • Maximum transfer amount ranges from $5,000 to $50,000 depending on payment method

Western Union logo

3. Western Union

Both PayPal and Western Union transfer to over 200 countries and territories around the world, with low minimum transfer amounts of $1, although your fees may be well over $1 for that transfer. Like PayPal, Western Union typically has fees dependent on how much you're sending, where you're sending money to and the method you choose for your transfer. However, Western Union allows for cash pick-up, while PayPal doesn't offer that option.

Pros

  • Low minimum transfer
  • Send money in minutes
  • Transfer to over 200 countries and territories across the globe
  • Cash pickup and deposit available
  • Transfer options include paying with cash, card or bank account

Cons

  • Weak exchange rates that can be around 5% more than the mid-market rate
  • High fees compared to many other companies
  • Maximum transfers may vary depending on payment route and options

4. TorFX

Both TorFX and PayPal have relatively low minimum transfer amounts compared to other money transfer services, but unlike PayPal, TorFX offers no-fee transfers. It also aims to offer competitive exchange rates and offers a best rate guarantee.

Pros

  • Multiple transfer options including spot contracts, forward contracts, limit orders and stop loss orders
  • No transfer fees
  • Has a best rate guarantee
  • Offers transfers in 40+ different currencies

Cons

  • Bank-to-bank transfers only
  • Rates may not be the most competitive without the price guarantee

5. Xe Money Transfer

Xe Money Transfer is a service designed to help you transfer your funds to a bank in a foreign currency. While PayPal has fees proportionate to the amount transferred, Xe charges $4 for transfers below $500 with a potentially more competitive exchange rate. It also offers business accounts.

Pros

  • Low transfer fees
  • Competitive exchange rates save you money in the long run
  • Transfers generally turnaround in 1 to 4 days

Cons

  • Bank-to-bank transfers only
  • No same-currency transfers
  • Exchange rate comparison tool not available until after you've registered with the site

6. OFX

Like PayPal, OFX has special options for online retailers, so may be worth considering if you want a PayPal alternative for selling online. Its fee structure is very different though, with no fees above $10,000 and a flat $15 fee under that. And while PayPal has a small minimum transfer limit of just $1, OFX's minimum is $250.

Pros

  • 24-hour customer support
  • Widely available
  • Offers scheduled and recurring transfers
  • iOS and Android apps available for mobile transfer and tracking
  • No fees above $10,000

Cons

  • Bank-to-bank transfers only — no cash payment or pick-up
  • Verify new accounts by phone
  • Minimum transfer amount of $250

7. CurrencyFair

CurrencyFair is a peer-to-peer marketplace, meaning you can match with someone else selling the currency you want to buy. This will mean the fees and rates you get is often quite reasonable. If there's no one to match with you, CurrencyFair itself can facilitate your transfers to 15+ currencies. While this is less than PayPal, you're almost guaranteed to get a better rate.

Pros

  • Better exchange rates
  • Lower fees
  • App available

Cons

  • Small list of currencies
  • The percentage-based fee can add up on large transfers
  • Can only pay through bank transfer

8. Send

Send is an Australian-based company that can help you send money to 30+ currencies around the world. There are no extra fees added on when you make a transfer, but there'll be a margin added onto the exchange rate. Unlike PayPal, which adds both a margin and a fee to your transfer. Send also specialises in transfers above $10,000 and you'll find the exchange rates get better the more you send.

Pros

  • No fees
  • Can send to 30+ currencies
  • Multi-currency wallet available
  • Dedicated account manager assigned to you

Cons

  • Not good value for smaller transfers
  • Bank-to-bank transfers only
  • Only founded in 2019, so many features are still under development

RIA Logo

9. Ria

In business for more than 30 years, Ria is a global money transfer network with more than 316,000 agent locations in over 100 countries. Ria is one of the largest international money transfer providers in the world, offering cash pickup and home delivery options that PayPal does not allow for.

Pros

  • Low minimum transfer amount
  • Wide variety of transfer payment options including cash, debit card, credit card and bank account
  • Worldwide transfer network, with over 316,000 agent locations in more than 100 countries
  • Cash pick-up available
  • Home delivery option in select countries
  • Transfers can be as fast as 15 minutes

Cons

  • May have low maximum transfer limits
  • Rates and fees depend on amount, location and method of transfer and may not always be competitive
  • Does not offer forward contracts or limit orders
  • Bank account transfers take several business days

10. MoneyGram

The second-largest international money transfer service in the world, MoneyGram transfers funds in over 200 countries and territories around the world to more than 350,000 agent locations worldwide. Both PayPal and MoneyGram offer low minimum transfer amounts, with fees depending on payment type and the transfer destination. However, MoneyGram offers home delivery and cash pick-up options, two services that PayPal does not have.

Pros

  • Fast transfers, with same-day service in many locations
  • Home delivery and cash pick-up options
  • Low minimum transfer amount
  • Can pay in-branch with cash or online

Cons

  • May have a low maximum online transfer amount
  • Fees vary depending on payment type and transfer destination
  • Less competitive exchange rates

Still looking for other options?

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.

Alternatively, learn more about PayPal in our review.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
24 hours
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Revolut
Within minutes
$0
Send money with great rates and low fees in 30+ currencies.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Instarem
Within minutes
From 0%
50% off first transaction fee from any country in APAC (outside India).
Minimum transfer of $250 and max transfer of $500,000
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
SingX
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
CurrencyFair
Within minutes
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
Send Payments
24 hours
$0
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
MasterRemit
Within minutes
From $0
Get your 1st and 2nd money transfer for free with promo codes FIRSTFREE and MASTERFINDER!.
Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
Western Union
Within minutes
From $0
Western Union sends money online to friends and family in 200+ countries around the world.
Qantas Business Money
Within minutes
$0
Limited time offer: Earn up to 125,000 bonus Qantas Points as a first-time converter. Ends 30 April 2024. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
Airwallex
Within minutes
$0
Streamline global payments in 60+ currencies. Send & receive securely in 150+ countries, with fast settlements & competitive rates. Simplify book-keeping & manage everything in one place.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
OFX Business Transfers
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
WorldFirst
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Send business
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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