Are you searching for a trusted money transfer provider so you can send money overseas quickly, easily and affordably? If XE doesn't meet your transfer needs or you just want to compare your options, there are plenty of other companies to consider.
Check out the eight XE alternatives below and compare their exchange rates, fees and transaction times to find the best money transfer service for you.
TorFX is a foreign exchange company that specialises in large overseas transfers for personal and business users. Founded in 2004, TorFX has a Level 1 rating from Dun & Bradstreet and operates offices in Australia, the USA, the UK, Europe, South Africa and India.
Launched in the UK in 2015, Revolut has been offering currency exchange and transfer services to Australians since 2019. You can use Revolut to send money abroad in over 30 currencies, and its user-friendly app helps ensure that sending a transfer is quick and easy. That's why you should check it out if you're searching for providers like XE.
Launched in 2011, Wise is an international transfer service that allows you to send money overseas in more than 50 currencies. Because it offers the mid-market exchange rate on international transfers, Wise says it is up to seven times cheaper than banks.
With roots tracing back to 1951, Western Union is a brand synonymous with money transfers and has an impressive network of agent locations. Western Union also provide a convenient way to transfer money and have multiple transfer options.
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Why pick Western Union instead?
Offer discounts on transfer fees to attract new customers
Suitable for sending money to people who don't have bank accounts
With 525,000 agent locations worldwide, they have the most agent locations globally
Downsides
Inconsistent markups on currencies such as GBP, some approach 5%
Next on our list of XE alternatives is WorldRemit, which offers cash pickup transfers, bank transfers, mobile money transfers, airtime top-ups and even home cash delivery in some countries. It also offers 24/7 customer support in 6 different languages to help make sending a transfer as simple and stress-free as possible.
Why pick WorldRemit instead?
Easy to use
Lets you send money to over 140 countries
Supports a wide range of payment options and payout methods
Instant transfers available
Downsides
Transaction limits and daily transfer limits apply
Fees vary depending on transfer destination, how you pay and how your recipient gets the money
Exchange rate markups range from 1% to 4% depending on the currency you send
OFX, previously known as OzForex, is an Australian foreign exchange company that was founded in 2001. It offers bank-beating rates on money transfers to over 170 countries, and you can also enjoy 24/7 phone access to a currency expert if you need any assistance with a transaction.
Remitly is an international remittance service that offers quick and easy money transfers. Founded in 2011, it allows you to choose between Express and Economy transfers depending on your needs and budget, while 24/7 customer support is also available. And with multiple transfer methods supported, there are lots of good reasons why Remitly is worth a look when comparing XE alternatives.
Instarem offers fast international money transfers to more than 60 countries around the world. Launched in 2014, the company is regulated in Australia and several other countries globally, and it's easy to send money and track your transactions using the Instarem app. And if you need to send international business payments, Instarem also offers business accounts.
Why pick Instarem instead?
Supports a wide range of payment methods
Competitive exchange rates available
Transfer amounts arrive instantly or usually on the same day
You can earn reward points to save money on future transfers
Downsides
May not support the currency you need
No cash pickup transfers available
$20,000 limit if you're paying with your credit or debit card
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.
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Frequently Asked Questions
Alternatives to XE include services like Wise, OFX, and WorldRemit. Wise is known for its transparent fees and mid-market exchange rates, making it ideal for smaller transfers. OFX is a good choice for larger amounts due to its competitive rates, while WorldRemit offers more payout options, including mobile money and cash pickups.
HiFX and XE are part of the same company. HiFX was rebranded as XE in 2019, so they now operate under the XE name, offering the same services. The rebranding was done to unify their services under a single, globally recognised brand.
Yes, it is safe to use XE for money transfers. XE is regulated by financial authorities such as ASIC in Australia, and it employs strong security measures, including encryption, to protect your transactions. XE is a well-established company with a solid reputation in the money transfer industry.
The main difference between Wise and XE is in their fee structure and exchange rates. Wise offers transparent fees and mid-market exchange rates, making it ideal for smaller, frequent transfers. XE typically caters to larger transfers with competitive rates, but may include a margin on the exchange rate. Wise is preferred for its transparency, while XE is often chosen for its service on larger transactions.
Yes, you can use XE to transfer money internationally. XE offers competitive exchange rates and low fees, making it a popular choice for both individuals and businesses. It supports a wide range of currencies and destinations, making it versatile for various money transfer needs.
Tim Falk is a writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
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