Using the services of either TransferWise or OrbitRemit gives you a secure way of making overseas money transfers. However, might you benefit more by using one company instead of the other? While there is no straightforward answer to this question, all you need to do to arrive at a conclusion is read through to the end of this page.
Turning to Trustpilot gives you insight into where the OrbitRemit vs. TransferWise comparison stands when it comes to people who have used their services. On this platform, OrbitRemit gets an average score of 9.3 out of 10. TransferWise is not far behind, averaging at 9.2 out of 10.
Determining whether you should turn to OrbitRemit or TransferWise requires that you pay attention to different aspects.
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Given that both companies follow different pricing models, you need to pay close attention to this section of the TransferWise vs. OrbitRemit comparison.
- You will end up paying a small percentage of the transfer amount as fees.
- Factors that affect transfer fees include the currencies being traded, the transfer amount, and the mode of payment.
- More details about how much your transfer might cost are available online.
- Businesses and online sellers pay no fees to receive payments or add funds into their TransferWise Borderless account.
- Using the Borderless account to convert currencies or make withdrawals attracts nominal fees.
- Sending money from Australia to India attracts AU $2 as fees, and you pay AU $4 for all other destinations.
- You pay a NZ $6 fee for sending money from New Zealand to Philippines, and it changes to NZ $4 for all other destinations.
- Transfers initiated from the UK attract £2 as fees.
- Transfers of over AU $1,000, NZ $1,000, and £1,000 are fee-free.
Ease of Use
Using the services of either OrbitRemit or TransferWise is fairly simple. Both provide apps for devices that run on iOS and Android. Both serve individuals and businesses alike.
- TransferWise provides website access in various languages.
- Depending on where you live, you may pay using bank account transfers, debit cards, credit cards, or SOFORT.
- As a Borderless account holder, you get fee-free receiving accounts in GBP, EUR, USD, and AUD.
- You may use a prepaid Mastercard to access funds in your Borderless account.
- Depending on where you live, you may pay using a bank account transfer or POLi.
- The Pay a Person feature lets you send money to a cash pickup location or the recipient’s address in Vietnam and the Philippines.
- You may use the company’s services to make payments toward credit cards issued in Australia, New Zealand, the UK, Vietnam, or the Philippines.
Regular Overseas Payments
This section of the OrbitRemit vs. TransferWise comparison tilts the balance in favor of the former. While OrbitRemit lets you schedule transfers with ease, TransferWise does not offer this functionality yet.
- Click here to read a comprehensive TransferWise Review.
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