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
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
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.
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