Western Union is a widely known company for money transfer services, but their high fees and slow processing time may not be ideal for everyone. Fortunately, there are alternatives available that offer better rates and faster transfers. Here’s a rundown of 9 alternatives to Western Union, to help you find your match:
Content Recap:
- TransferWise
- Xoom
- PayPal
- WorldRemit
- Ria Money Transfer
- MoneyGram
- OFX
- Remitly
- Wise (formerly known as TransferWise)
TransferWise:
TransferWise offers a simple and user-friendly platform to transfer money internationally. They have transparent fees and offer real-time exchange rates that are better than most banks. You can easily transfer money from your bank account to the recipient’s bank account, and they also offer a borderless account that lets you hold and transfer money in multiple currencies.
Xoom:
Xoom is a subsidiary of PayPal that offers international money transfers to over 130 countries. They offer competitive exchange rates, fast transfers, and have no transfer fees when you transfer more than $1,000. They also have a mobile app that makes it easy to transfer money on the go.
PayPal:
PayPal is a widely known platform for online payments, but they also offer money transfer services. You can easily send money to friends and family in over 200 countries using your PayPal account. They have competitive exchange rates and offer free transfers when you use your PayPal balance or bank account.
WorldRemit:
WorldRemit offers international money transfers to over 150 countries. They have low fees, fast transfers, and offer a variety of payout methods including bank accounts, cash pickup, and mobile money. They also have a mobile app that makes it easy to transfer money on the go.
Ria Money Transfer:
Ria Money Transfer offers international money transfers to over 160 countries. They have competitive exchange rates, low fees, and offer a variety of payout methods including bank accounts, cash pickup, and mobile money. They also have a mobile app that makes it easy to track your transfer.
MoneyGram:
MoneyGram is a widely known company for money transfer services. They offer transfers to over 200 countries and have a large network of agents for cash pickup. They have competitive exchange rates and fast transfers, but their fees can be higher than other alternatives.
OFX:
OFX is a good option for large international money transfers. They offer competitive exchange rates and low fees, but their transfers can take longer than other alternatives. They also have a mobile app that makes it easy to track your transfer.
Remitly:
Remitly offers international money transfers to over 50 countries. They have competitive exchange rates and fast transfers, but their fees can be higher than other alternatives. They also have a mobile app that makes it easy to transfer money on the go.
Wise (formerly known as TransferWise):
Wise is a popular money transfer service that offers competitive exchange rates and low fees. They offer transfers to over 70 countries and have a borderless account that lets you hold and transfer money in multiple currencies. They also have a mobile app that makes it easy to transfer money on the go.
Western Union may be a widely known company for money transfer services, but their high fees and slow processing time may not be ideal for everyone. Luckily, there are plenty of alternatives available that offer better rates and faster transfers. Do your research and choose the one that suits your needs best.