Money Transfers

• Countries Supported (Send) – 49
• Countries Supported (Receive) – 90
• Transfer Fees – $2+
• Minimum Transfer – $150
• Maximum Transfer – $1,000 ($10,000 + with ID verification)
• Transfer Time – 0 – 3 days
• Recurring Transfers – No
• Track The Exchange Rate – No
• Cash Pick Up – No
• Receive In Bank Account – Varies
• Receive On Debit Card – Varies
• Receive On Credit Card – Varies
• Send From Bank Account – Yes
• Send From Debit Card – Yes
• Send From Credit Card – Yes
• Pay Bills – No

Unique Selling Point:
With Paysend Link you don’t need to worry about asking for your friend’s bank or card details. As long as you have their mobile number, they can receive the money and direct it to their card or bank account.

Who is this app for:
If you’re looking for an easy way to transfer money to over 90 countries with a flat $2 fee and a simple, easy-to-use interface, then Paysend may be for you. All you need to sign up is a phone number and some basic personal details, and then you can instantly send money from your card or bank account to friends and family all over the world (although there may be a delay on the recipient’s end).

Bonus points:
– If the sender and recipient both have the Paysend app, you can get access to lower transfer fees.

Fintech Pros :
– Those with the Paysend App for iOS can utilize Face ID/Touch ID to help make their payments more secure.

Fintech Cons:
– None

• Countries Supported (Send) – 50+
• Countries Supported (Receive) – 150
• Transfer Fees – Varies by country and payment type
• Minimum Transfer – $1
• Maximum Transfer – Varies by country and payment type
• Transfer Time – Varies by country and payment type
• Recurring Transfers – Yes
• Track The Exchange Rate – No
• Cash Pick Up – Varies
• Receive In Bank Account – Varies
• Receive On Debit Card – No
• Receive On Credit Card – No
• Send From Bank Account – Yes
• Send From Debit Card – Yes
• Send From Credit Card – Yes
• Pay Bills – No

Unique Selling Point:
In many countries, WorldRemit offers a wide range of options for recipients to receive their money including bank transfer, cash pickup, mobile wallet, mobile money and airtime top up.

Who is this app for:
If you’re looking for an online money transfer service with a large amount of payment options, recipient options and a huge global reach, then WorldRemit may be for you. As it’s name would suggest, WorldRemit has a strong focus on remittances, offering payment coverage to large parts of the developing world. With WorldRemit’s huge global network and partnerships with banks, payment networks and phone networks, you can send money to many corners of the world that are not easily reached by many mainstream financial networks and services.

Bonus points:
– WorldRemit offers various regional payment options to senders such as iDEAL (Netherlands) and Interac (Canada).

Fintech Pros :
– Those with the WorldRemit App for iOS can utilize Face ID/Touch ID to help make their payments more secure.
– Mobile app users can send money via their Apple Pay and Google Pay accounts.

Fintech Cons:
– None

• Countries Supported (Send) – 16
• Countries Supported (Receive) – 50+
• Transfer Fees – Varies on amount and speed of transfer
• Minimum Transfer – $1
• Maximum Transfer – $2,999 ($60,000 + with ID verification)
• Transfer Time – Minutes – 5 business days
• Recurring Transfers – No
• Track The Exchange Rate – No
• Cash Pick Up – Varies on location
• Receive In Bank Account – Varies on location
• Receive On Debit Card – Varies on location
• Receive On Credit Card – Varies on location
• Send From Bank Account – Yes
• Send From Debit Card – Yes
• Send From Credit Card – Yes
• Pay Bills – No

Unique Selling Point:
With Remitly’s delivery promise, they guarantee that your money will be delivered by a specified time or the fees are refunded.

Who is this app for:
If you’re looking for a fast online money transfer service with a variety of recipient delivery options and strong customer support, then Remitly may be for you. As it’s name would suggest, Remitly is focused on remittances, offering payment coverage to many parts of the developing world. With Remitly’s global network and partnerships with banks and payment networks you can send money to many corners of the world that are not easily reached by many mainstream financial networks and services.

Bonus points:
– If you have a digital bank account with Remitly’s Passbook, you can get cash back when you send money with Remitly and use your Passbook Visa card.

Fintech Pros :
– Those with the Remitly app for iOS can utilize Face ID/Touch ID to help make their payments more secure.

Fintech Cons:
– None

• Countries Supported (Send) – 170
• Countries Supported (Receive) – 170
• Transfer Fees – $0
• Minimum Transfer – $1
• Maximum Transfer – $500,000 (unlimited over phone)
• Transfer Time – 0 – 3 days
• Recurring Transfers – No
• Track The Exchange Rate – Yes
• Cash Pick Up – No
• Receive In Bank Account – Yes
• Receive On Debit Card – No
• Receive On Credit Card – No
• Send From Bank Account – Yes
• Send From Debit Card – Yes (Up to $3,000)
• Send From Credit Card – No
• Pay Bills – No

Unique Selling Point:
With a $500,000 limit on online transfers, and no limits on phone-based transfers, XE offers those transferring large sums of money options not available with most other money transfer services.

Who is this app for:
If you’re looking for an easy way to transfer money to over 130 countries with no fees and a simple exchange rate margin, than XE may be for you.  While XE doesn’t offer some of the flexibility in payment and recipient options that other providers do, XE focuses on bank-to-bank transfers, and aims to beat the exchange rate offered by your bank. XE also offers additional features that will likely appeal to those transferring large amounts of money for transfers that are less time sensitive. These include “Forwards”, which secure a fixed, guaranteed exchange rate for a future date, and “Market Orders”, where you can specify a target rate at which you’d like to transfer your money. These can be of particular help to those transferring to and from volatile currencies.

Bonus points:
– With custom currency exchange rate alerts, you can choose a currency pair and receive email notifications when a particular exchange rate is met.

Fintech Pros :
– Those with the XE app for iOS can utilize Face ID/Touch ID to help make their payments more secure.

Fintech Cons:
– None

• Countries Supported (Send) – 7
• Countries Supported (Receive) – 197
• Transfer Fees – $0/$15 (transfers below $10,000)
• Minimum Transfer – $1,000
• Maximum Transfer – Unlimited
• Transfer Time – 1 – 5 days
• Recurring Transfers – Yes
• Track The Exchange Rate – Yes
• Cash Pick Up – No
• Receive In Bank Account – Yes
• Receive On Debit Card – No
• Receive On Credit Card – No
• Send From Bank Account – Yes
• Send From Debit Card – No
• Send From Credit Card – No
• Pay Bills – No

Unique Selling Point:
With OFX there is no limit on online transfers or phone-based transfers, offering those transferring large sums of money options not available with most other money transfer services.

Who is this app for:
If you’re looking for a way to transfer large sums of money internationally with a low exchange rate margin and solid 24/7 phone and email support, then OFX may be for you. While OFX doesn’t offer some of the flexibility in payment and recipient options that other providers do, they focus on bank-to-bank transfers for those making large international transfers. OFX also offers additional features that will likely appeal to those transferring large amounts of money for transfers that are less time sensitive. These include “Forward Exchange Contracts”, which secure a fixed, guaranteed exchange rate for a future date, and “Limit Orders”, where you can specify a target rate at which you’d like to transfer your money. These can be of particular help to those transferring to and from volatile currencies.

Bonus points:
– With offices around the globe, OFX provides top-quality customer service from their “OFXperts” 24 hours a day, 7 days a week.

Fintech Pros :
– With the OFX app, you get access to live rates and information on currency trends, as well as the ability to track your existing transfers and make new ones.

Fintech Cons:
– OFX’s sign up process cannot be completed 100% online – you’ll need to verify your information by speaking with an OFX representative to verify your information before your can make your first transfer.

• Countries Supported (Send) – 57
• Countries Supported (Receive) – 34
• Transfer Fees – $0 (fee of 3.99%+ on the mid-market rate)
• Minimum Transfer – $1
• Maximum Transfer – $2,500
• Transfer Time – Same day – 5 days
• Recurring Transfers – No
• Track The Exchange Rate – No
• Cash Pick Up – No
• Receive In Bank Account – Yes
• Receive On Debit Card – No
• Receive On Credit Card – No
• Send From Bank Account – Yes
• Send From Debit Card – Yes
• Send From Credit Card – Yes
• Pay Bills – No

Unique Selling Point:
In addition to it’s standard money transfer mechanisms, Skrill also offers Skrill-to-Skrill payments. If both the sender and recipient have Skrill accounts, all you need is the recipient’s email address or phone number and you can instantly transfer money from your account to theirs.

Who is this app for:
If you’re looking for an easy way to transfer money internationally with no flat fees and a simple exchange rate margin, then Skrill may be for you. While Skrill is a relatively new name in money transfers, they are a well established financial services company that has been around since 2001, and is part of the larger Paysafe Group. While their offerings are fairly limited when compared to other money transfer services, if you’re looking for a straightforward money transfer service backed by a large international company with a long track record of reliability and security, than Skrill may be for you.

Bonus points:
– With the Skrill app, Skrill’s money transfer functionality is completely integrated with it’s many other features including a digital wallet, prepaid debit card and loyalty program.

Fintech Pros :
– Those with the Skrill app for iOS can utilize Face ID/Touch ID to help make their payments more secure.

Fintech Cons:
– None

• Countries Supported (Send) – 65
• Countries Supported (Receive) – 61
• Transfer Fees – Varies on currency and speed
• Minimum Transfer – $1
• Maximum Transfer – $1,000,000
• Transfer Time – Instant – 4 business days
• Recurring Transfers – Yes
• Track The Exchange Rate – Yes
• Cash Pick Up – No
• Receive In Bank Account – Yes
• Receive On Debit Card – No
• Receive On Credit Card – No
• Send From Bank Account – Yes
• Send From Debit Card – Yes
• Send From Credit Card – Yes
• Pay Bills – No

Unique Selling Point:
With TransferWise’s multi-currency “Borderless Account” you can send, receive and spend your money in multiple currencies all over the world. This is a flexible online account that comes with a TransferWise Mastercard,  as well as providing you with unique banking details for the US, UK, EU, Australia, and New Zealand, so you can always get paid locally with no fees.

Who is this app for:
If you’re looking for an online money transfer service with a clear, transparent approach to pricing, a selection of payment options and a million dollar transfer limit, then TransferWise may be for you. Perhaps TransferWise’s most prominent feature is their approach to transparency and fees. For every transfer they clearly show the breakdown of the current mid-market exchange rate, how much the additional fees will cost you (0.3% – 0.5% ), and how much money they make from the transaction. They even provide a breakdown of the revenue that they generate and how they spend it. It is likely this “radical transparency” and their “charge as little as possible” principles, as well as their strong products and flexibility that have led TransferWise to rapidly become one of the biggest players in online money transfers since they launched in 2011.

Bonus points:
– With the TransferWise debit card (currently unavailable in NV & HI) and TransferWise app, you can hold money in different currencies, and spend money around the world automatically using the local currency for the lowest fees.

Fintech Pros :
– Those with the TransferWise app for iOS can utilize Face ID/Touch ID to help make their payments more secure.

Fintech Cons:
– None

• Countries Supported (Send) – 40+
• Countries Supported (Receive) – 159
• Transfer Fees – Varies by country and payment type
• Minimum Transfer – $10
• Maximum Transfer – $2,999 ($50,000+ with ID verification)
• Transfer Time – Varies by country and payment type
• Recurring Transfers – Yes
• Track The Exchange Rate – No
• Cash Pick Up – Yes
• Receive In Bank Account – Yes
• Receive On Debit Card – Yes
• Receive On Credit Card – No
• Send From Bank Account – Yes
• Send From Debit Card – Yes
• Send From Credit Card – Yes
• Pay Bills – Yes

Unique Selling Point:
With Xoom’s bill pay feature, you can pay for utilities, phone, tv and internet directly for family in other countries

Who is this app for:
If you’re looking for an online money transfer service with one of the world’s biggest financial services firms that offers international money transfers with a wide variety of payout methods, then Xoom may be for you. While Xoom tends not to stand out as a particularly cost-effective solution for international bank transfers, where it shines is in it’s flexibility and variety of payment options. This can be particularly useful if you’re looking to send money to loved ones who don’t have formal banking arrangements, or who live in areas without well-developed banking and financial infrastructure. Xoom offers solutions that are not widely available amongst it’s competitors, such as international phone reloading, bill pay, cash delivery and cash pick up.

Bonus points:
– If you already have a PayPal account, you can use Xoom to send money around the world straight away without having to set up new accounts.

Fintech Pros :
– Those with the Xoom app for iOS can utilize Face ID/Touch ID to help make their payments more secure.

Fintech Cons:
– None