UK-based Kantox is a FinTech company that provides currency related solutions for small to mid-sized businesses as well as corporate clients. Founded in 2011, this company simplifies making international payments and provides different hedging tools. Since several FinTech companies have entered this realm in the last two decades, the competition this company faces is tough.
If you are looking for an alternative to Kantox, do not go by the first recommendation that comes your way. This is because several factors come into play when transferring funds overseas, and it is not uncommon for businesses to have distinct requirements. For example, not all overseas fund transfer companies provide hedging tools.
Kantox Competitor Comparison Table
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
Currencies Direct
- 9.1/10
- Online
PhoneOne off transfers Regular transfers Forward Contracts Limit orders Stop loss orders - NO FEES
Currencies Direct regularly offer great rewards for new clients.
Check back again soon for their latest offers… - NO FEEThey charge no fees on 90% of transactions. If fees apply you are informed upfront.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1 / $1 / €1
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - Real Exchange Rate Used
0.15% - 0.5%Fee is added to the real Exchange rate for transparent pricing.
Fee on top of inter-bank rate is based on total transfers for the year.
0.5% < £500k
0.25% < £5m
0.15% > £5m - 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1000 / €1000 / AUD$2000
OFX
- 9.1/10
- Online
PhoneOne off transfers Regular transfers - Two Transfers Fee Free
First 2 Transactions Free - USD$0
£0
CAD$15
AUD$15
€10 - 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- $250 / £100 / €250
Global Reach Group
- 7.6/10
- Online
Phone Assistance
Best Rate Guarantee AppliesGlobal Reach have a Best Rate Guaratee policy. Click the Visit Website button below for more details.- > $20When you book a transfer through Global Reach, you get to know exactly how much you will need to pay as fees in advance. Depending on the amount you transfer, the company might charge a standard telegraphic transfer fee that does not exceed £20.
- 1 - 2 Days
- £1,000
Currencies Direct
Currencies Direct serves businesses, online sellers, and individuals. This Kantox alternative gives online sellers the ability to convert sales from popular international ecommerce platforms without requiring receiving accounts in matching currencies. You get segregated accounts within the main account so receiving multiple currencies is easy. A centralized system simplifies how you manage transfers.
Pros
- Register as a business, an online seller, or an individual
- UK-based, offices also in the U.S., Portugal, France, Spain, China, South Africa, and India
- Multilingual website
- Travel money solutions provided in the UK
- Pay international suppliers in local currencies
- Segregated accounts let you receive payments and hold funds in multiple currencies
- Get access to a dedicated account manager
- Choose from limit orders, forward contracts, and scheduled transfers
Cons
- Services not provided in all American states
WorldFirst
WorldFirst lets you register as a business, an online seller, or an individual. This alternative to Kantox provides receiving accounts in multiple currencies through its World Account. Making cross-border payments is easy. It provides forward contracts.
Pros
- Register as a business, an online seller, or an individual
- UK-based, offices also in Australia, the Netherlands, Hong Kong, Singapore, and Japan
- Multilingual website
- Local phone support in some countries
- Receiving accounts provided in GBP, USD, EUR, CAD, JPY, and CNY
- Making supplier payments is straightforward
- Lets you choose from forward contracts and scheduled transfers
- Businesses and online sellers may use the World Account to receive funds and make payments in different currencies through matching currency accounts
- You may integrate the World Account with Xero easily
- Adds a transparent margin over existing mid-market/real exchange rates
Cons
- You cannot register as a customer from the U.S.
- The country of the transfer’s origin and the transfer method affect sending limits
Global Reach Group
You may register with Global Reach Group as a business or an individual. This Kantox alternative provides different hedging tools. The company deals in over 140 currencies.
Pros
- Serves businesses and individuals
- UK-based, offices also in the Netherlands, South Africa, and Cyprus
- Get over-the-phone access to a currency specialist
- Provides limit orders, stop loss orders, and forward contracts
- Lets you schedule transfers
Cons
- No multilingual website
OFX
This Kantox competitor lets you sign up as a business, an online seller, or an individual. Online merchants may get local collection accounts in different currencies. You pay no outgoing fees when withdrawing funds from your OFX account into your local bank account.
Pros
- Serves businesses, online sellers, and individuals
- Australia-based, offices also in the UK, the U.S., New Zealand, and Hong Kong
- Local phone support in some countries
- Local currency accounts provided in GBP, USD, EUR, CAD, AUD, HKD, and JPY
- Online sellers may automate delivery of funds
- Online sellers get to transfer funds without incurring fees
- Provides market orders, forward contracts, and scheduled transfers
- Personal transfers come with fee-free thresholds
- Transfer funds online or over the phone
Cons
- Website access only in English
- Need to speak with an OFX representative over the phone to trade in some currencies
TransferWise
TransferWise lets you register as a business, an online seller, or an individual. With the TransferWise Borderless Account, you get details for receiving accounts in three currencies. The account also lets you hold funds in up to 27 currencies. This Kantox alternative provides website access in multiple languages
Pros
- Serves businesses, online sellers, and individuals
- Headquartered in the UK, offices also in the U.S., Australia, Hungary, Estonia, Ukraine, Singapore, and Japan
- Website access in different languages
- Receiving accounts offered in USD, GBP, and EUR
- Use email addresses to send and receive funds
- Provides local phone support in some countries
Cons
- No market orders and forward contracts
- Cost of a transfer depends on the currencies involved, the transfer amount, and the mode of payment
- Not all countries served by its peer-to-peer network
XE
You may register with XE (formerly HiFX) as a business or an individual. This Kantox competitor operates dedicated websites for the UK, the U.S., Canada, Australia, and New Zealand. It gives business clients easy means to make international payments and provides different hedging tools. Business clients may also benefit through the company’s flexible credit terms.
Pros
- Sign up as a business or an individual
- Headquartered in Canada, offices also in the U.S. and the UK
- Offers market orders and forward contracts for business clients
- Provides credit facilities for hedging requirements
- Provides mass payment solutions
- Multilingual website
Cons
- Transfer fees may vary depending on the currencies involved
Tipalti
Tipalti provides international remittance and account payable services for businesses. Solutions that this alternative to Kantox provides include supplier onboarding, global payments, invoice processing, early payments, instant payment reconciliation, and tax compliance.
Pros
- Complete automation of accounts payable
- Supplier payment workload reduces by up to 80%
- Make accounts payable a source of revenue generation
- Choose from more than 120 currencies
- Lets you schedule transfers
Cons
- Serves only businesses
- Website access only in English
- Physical presence outside of the U.S. limits to Israel
PAYMILL
You may turn to this Kantox competitor if your needs do not extend beyond accepting and processing PayPal, debit card, and credit card payments from different countries. While the services of PAYMILL are available to merchants from Europe, you cannot register as a customer from the U.S. yet.
Pros
- Website access in different languages
- Optimized checkout experience for online sellers and businesses
- Accepts payments via debit cards, credit cards, and some local methods
- No account setup or ongoing maintenance fees
- Easy-to-integrate solutions
Cons
- Percentage-based pricing – €0.28 plus 2.95% for credit and debit card payments, and €0.28 plus 3.95% for payments via American Express
- No offices outside of Germany
- Serves only businesses
- No hedging tools or scheduled transfers
Paysafe
Merchants may use Paysafe to give their customers from the world over different payment methods from which to choose. You may use the services of this Kantox alternative to receive payments through your website and to process orders via email or over the phone. It lets you link your account to point-of-sale transactions and it gives you the ability to process payments using mobile devices.
Pros
- It is the parent company of NETELLER, Skrill, PAYOLUTION, paysafecard, and Fans Entertainment
- Headquartered in the Isle of Man, offices also in the UK, the U.S., Canada, Bulgaria, and India
- Website access in English and French
- Lets you accept and process payments from the world over
- Offers consumer currency cards, custom mobile payment solutions, and employee payroll cards
- Merchants in the D-A-CH (Germany-Austria-Switzerland) region may use Pay Later Solutions for monthly invoicing and payment in installments
- Use the paysafecard to make online payments
- Individuals may use NETELLER for overseas fund transfers
- As a VIP member, you pay as little as 1% in foreign exchange fees
Cons
- NETELLER lets you transfer funds only to other NETELLER accounts – the recipient then needs to withdraw funds into a local bank account
- The cost of a transfer depends on funding and withdrawal methods
- Does not provide scheduled transfers or hedging tools
Payoneer
Payoneer provides online fund transfer and ecommerce payment solutions for small and mid-sized businesses. Its lets clients receive funds from international customers, which they may access using a prepaid MasterCard. This Kantox competitor provides virtual bank accounts details for different currencies.
Pros
- Headquartered in the UK, offices also in Japan and the Philippines
- Pay via local bank transfers, international wire transfers, and Automated Clearing House (ACH) transfers
- Trade in over 150 currencies
- Small and mid-sized businesses get virtual bank account details for USD, GBP, EUR, and JPY
- You may withdraw transferred funds into your bank account or access it using an e-wallet or prepaid MasterCard
Cons
- You will need to pay an annual fee to maintain the prepaid MasterCard
- Cannot use its services to send money as an individual
PayPal
You may use PayPal to make payments to other PayPal users. Recipients can then withdraw funds into their local bank accounts or use the money to shop online. You may also access funds in your account using a prepaid PayPal card. This alternative to Kantox lets you transfer money using no more than a recipient’s email address.
Pros
- Serves businesses, online sellers, and individuals
- Multilingual website
- Provides easy-to-integrate solutions for ecommerce platforms
- Lets you use funds in your acount for online shopping depending on where you reside
Cons
- Does not support direct transfers to bank accounts
- No scheduled transfers or hedging tools
- Transfer fee depends on your country of residence, the destination country, and the mode of payment
Skrill
Skrill facilitates overseas fund transfers and online payments. This Kantox alternative serves businesses and individuals. You may access transferred funds using a prepaid MasterCard or withdraw it into your local bank account. The MasterCard comes in multiple currencies.
Pros
- Register as a business or an individual
- Headquartered in the UK, offices also in the U.S., Austria, and Sweden
- Transfer funds to Skrill accounts or mobile wallets
- No fees when making payments toward merchants
- Allows scheduling of transfers
- Use the Skrill wallet to hold funds in up to 40 currencies
- MasterCard available in USD, GBP, EUR, and PLN
Cons
- Does not allows direct transfers to bank accounts – recipients need to withdraw transferred funds into local bank accounts
- When transferring funds to individuals, you will need to pay 1.9% of the transfer amount as fees, not exceeding $20
- No hedging tools
- If payments do not match existing currencies in your account, you will need to pay conversion fees
Banks
While you will find several banks that cater to business clients in facilitating overseas fund transfers, finding one that is better than Kantox is quite a challenge. Banks the world over are losing out on their share of this market because of evolving technology that is allowing the competition to offer better exchange rates and charge lower fees. If you need to make or receive cross-border payments, consider limiting your search to specialist fund transfer companies.
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