Alternatives to Wise (TransferWise)

Take a look at money transfer companies like Wise who could offer better value.

Are you looking for a money transfer company better suited to your needs? If Wise doesn't support your currency or you just want to know what else is out there, check out some other options below.

We've handpicked some of the most popular alternatives and highlighted what features they have that Wise doesn't.


Revolut logo

Revolut

Revolut is a newcomer to the money transfer space in Australia, they offer a convenient service at competitive exchange rates.

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Why pick Revolut instead?

  • Revolut's app has a great user experience
  • No transfer limit on most major currencies
  • Get the mid-market rate during market hours (Mon to Fri)

Downsides

  • App only, can't send money through an online platform
  • Not as competitive for large money transfers
  • Make sure to check your plans limits


ofx logo

OFX

Also known as OzForex, OFX launched in Australia in 1998 and aims to beat the exchange rates offered by banks.

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Why pick OFX instead?

  • No fees on transactions over $10,000
  • No maximum limit on how much you can send
  • Fast transfers, usually completed within 24 hours
  • OFX is one of two providers approved to pay ATO from overseas

Downsides

  • Doesn't use the mid-market rate
  • Only accepts bank transfers as payment
  • $250 is the minimum transfer limit for Australian users


TorFX logo

TorFX

TorFX lets you make personal or business transfers to over 60 currencies around the world.

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Why pick TorFX instead?

  • Assigned personal account manager to support you
  • More suitable for large transfers
  • Forex tools to help you secure the exchange rate you want

Downsides

  • Can only pay by bank transfer and send to bank accounts
  • Not so great for transfers under $2,000
  • Adds a margin to the exchange rate
  • Limited currency options available


Instarem logo

Instarem

Instarem supports almost instant transfers and has transparent fees.

Why pick Instarem instead?

  • Transparent fees
  • Uses the mid-market rate for some currencies during certain hours.
  • Earn loyalty points and same-day transfers for most currencies

Downsides

  • Your receiver must have a bank account
  • Can only pay by bank transfer
  • Not as many currencies as other companies
  • If you're sending above $20,000 AUD, OFX or TorFX is a better option


Remitly logo

Remitly

Remitly has a two-speed system in which you get the choice of speed versus fees.

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Why pick Remitly instead?

  • Diverse delivery options including cash pickup locations
  • Express transfer options
  • A large network

Downsides

  • Low maximum limits for new users
  • Inconsistent exchange rate markups


worldremit logo

WorldRemit

WorldRemit has one of the largest ranges of countries you can send to, as well as a variety of payment options.

Why pick WorldRemit instead?

  • Able to transfer to cash pickup locations or mobile wallets
  • Send money to over 140 countries with flexible payment options.
  • Supports many exotic currencies
  • Instant transfers available

Downsides

  • Only sends mobile credit top-ups to certain countries
  • Low maximum transfer limit makes it bad for large transfers


MoneyGram logo

MoneyGram

One of the most well-known transfer brands, MoneyGram sends money to more than 200 countries.

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Why pick MoneyGram instead?

  • 350,000 cash pick-up locations worldwide
  • One of the largest ranges of currencies
  • Almost-instant transfers
  • Can pay by cash and in-person

Downsides

  • High transfer fees
  • Has transfer limits in place
  • Adds a bigger margin to the exchange rate than other, smaller transfer companies


CurrencyFair's logo

CurrencyFair

Peer-to-peer currency exchange marketplace, with fair exchange rate markups for small transfers

Why pick CurrencyFair instead?

  • Competitive exchange rates and fees, the average cost of sending a transfer is around 0.45% of the transaction amount.
  • First five transfers are fee-free for new customers

Downsides

  • Only supports the major currencies
  • Credit card and cash payments are not accepted
  • Percentage-based fee makes it expensive for large transfers


Western Union logo

Western Union

Western Union is a brand synonymous with money transfers and has a massive network of agent locations globally. They provide a convenient way to transfer money and have flexible transfer options.

Why pick Western Union instead?

  • Offer discounts to entice new customers
  • Suitable for sending money to those without bank accounts
  • With 525,000 agent locations worldwide, they are the largest money transfer provider in the world

Downsides

  • Not competitive for large money transfers
  • Inconsistent markups on currencies, some approach 5%


Still looking for other options?

Alternatively, learn more about Wise in our review.

1 - 25 of 27
Product AUFMT Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Within minutes
$0-$4
OrbitRemit sends to over 20 countries for a flat fee and transparent exchange rate.
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000. Same-day transfers between AUD and NZD (under $100,000).
Within minutes
$0
Sign up and get a AUD$15 top-up. For new customers only. T&Cs apply.
Send money with great rates and low fees in 25+ currencies. Plan fees apply.
Within minutes
$0
Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000. Same-day transfers between AUD and NZD (under $100,000).
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Within minutes
$0
Earn 10% cashback on your first $1,000 USD equivalent in eligible international card spend with Airwallex.
Streamline global payments across 150+ countries with fast settlements and competitive rates in over 60 currencies.
Within minutes
$0

Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
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.
24 hours
$0
New customers registering in 31 December 2024 can receive lower pricing on exchange rates. T&Cs apply.
Xe has fast transfers, low fees and a range of foreign currency tools. Send money to 200 countries in 100 currencies.
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Wise (TransferWise)
Best Rated Brand
Wise logo
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Remitly
Best Rated Brand
Remitly logo
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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.
Send Payments
Send Payments logo
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Within minutes
$0
Earn 1 Qantas Point on every $1AUD equivalent converted in foreign currency. T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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.
Within minutes
$0
Revolut allows your business to move money around the world quickly and cheaply with 25+ currencies and no maximum limit transfers. Plan fees apply.
24 hours
$0
Send provides no Send payments fee transfers via its 24/7 multi-currency payments platform with real-time quotes.
Within minutes
From $0
Get Western Union's best exchange rate and $0 fee on your first online transfer.
Western Union sends money online to 200+ countries, with competitive rates for new customers.
Within minutes
From $0
Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
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Written by

Writer

Rosie Russell is a money transfers producer at Finder. She is on a mission to make personal finance easier to understand. Rosie has a Bachelor of Communication (Journalism) and Bachelor of Arts in International Studies from the University of Technology Sydney. See full bio

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