The Best TransferWise Alternatives for International Money Transfers
TransferWise, now known as Wise, has revolutionized how we send money abroad, offering low costs and real exchange rates. It's a fantastic tool for expats, students, businesses, and anyone living an international life, enabling secure and convenient transfers, multi-currency accounts, and payments in various currencies like AUD, GBP, EUR, and USD. However, while TransferWise excels, specific needs or preferences might lead you to explore other options. This article dives into the top TransferWise alternatives that can also help you manage your international finances.
Top TransferWise Alternatives
Whether you're looking for different fee structures, specific features, or simply want to compare services, these alternatives offer compelling reasons to consider them for your international money transfer and banking needs.
PayPal
PayPal is a widely recognized platform for sending and receiving money online. While it's known for its convenience, especially for online payments, it can also serve as a TransferWise alternative for international transfers. PayPal is available across Commercial, Web, Android, iPhone, Blackberry, and Pebble platforms, offering features like in-app money transfer, mobile optimization, online banking, and robust security focus, making it a viable option for many.
Revolut
Revolut is a strong international banking alternative that directly competes with TransferWise. It offers multi-currency transfers and powerful money management tools, available on Freemium, Android, iPhone, Apple Watch, and Android Wear platforms. Its features include in-app money transfer, acceptance of global currencies, cryptocurrency support, currency conversion, mobile payment, and support for multiple currencies, positioning it as a comprehensive financial solution.
N26
N26, Europe's first completely mobile bank, offers a streamlined banking experience that can serve as an excellent TransferWise alternative, particularly for those within Europe. It provides complete control of your financial activity directly from your phone. Available on Freemium, Web, Android, and iPhone, N26 focuses on mobile-friendly online banking, making it convenient for everyday financial management.
Payoneer
Payoneer is a robust platform, especially popular among freelancers and businesses for receiving international payments. As a Commercial and Web-based service, it offers features like credit card processing, automatic payments, e-commerce integration, mobile payment, and online banking. Its strong focus on payment processing makes it a good alternative for those who need to get paid in multiple currencies, similar to TransferWise's multi-currency account features.
Curve
Curve offers a unique approach by consolidating all your credit and debit cards into one smart card and app. While not a direct money transfer service in the same vein as TransferWise, it acts as a powerful financial management tool that simplifies spending abroad by linking to your existing accounts. Available on Freemium, Android, and iPhone, its primary feature is online banking convenience, making it a valuable companion for international spenders.
Monese
Monese provides a multi-currency mobile banking alternative, allowing users to open fully functional current accounts instantly, making it an excellent TransferWise alternative for those needing a full banking experience. Available on Freemium, Web, Android, and iPhone, Monese offers features like 128-bit encryption, Apple Pay, Google Pay, cryptocurrency support, and support for multiple currencies and languages, catering to a global audience.
PaymentSpring
PaymentSpring is a developer-driven mobile payment gateway and Payment SaaS solution designed for software platforms and businesses. While more focused on payment processing for developers, its Commercial, Open Source, Mac, Windows, Web, Android, and iPhone platform availability means it can be integrated into solutions requiring robust payment handling, offering a different facet of international money management compared to TransferWise.
WireCompare.com
WireCompare.com isn't a direct money transfer service but a valuable tool for finding the best TransferWise alternative. It compares top-rated, trusted, and regulated money transfer providers side-by-side, offering price alerts and real-time sync. As a Free Web-based platform, it empowers users to make informed decisions by easily comparing various services to find the most cost-effective and efficient way to send money abroad.
Monzo
Monzo Bank is a popular digital, mobile-only bank based in the United Kingdom. It allows users to manage their money effectively, including setting spending budgets. While primarily a digital bank, its Free Web, Android, and iPhone platforms offer features like Apple Pay, Google Pay, and a mobile-friendly online banking experience, making it a convenient option for managing funds, especially for those living or frequently traveling within the UK and Europe.
Paysera
Paysera offers a comprehensive suite of financial services, including private or business IBAN accounts, payment collection, currency exchange at favorable rates, and a Paysera VISA card. As a Freemium service available on Web, Android, and iPhone, Paysera provides robust online banking features. It's a strong TransferWise alternative for those seeking an all-in-one solution for international banking and currency exchange needs.
Ultimately, the best TransferWise alternative depends on your specific international money transfer and banking needs. We encourage you to explore these options, compare their features, fees, and supported currencies, and choose the platform that best aligns with your financial goals.