Are You Looking for a Better Company than Travelex to Send Money Overseas?
If you are looking for information about one or more Travelex competitors, you’ve come to the right place. While turning to this UK based international money transfer company is cheaper than using banks, it has a number of worthwhile competitors vying for your attention.
The way global fund transfers work is such that no particular business can claim to be the best at every moment. Given that exchange rates change continuously, while one company may offer the best rates today, that might not be the case tomorrow. Ideally, you should register with multiple global money transfer companies. That way, you can check which one offers the best rate before each transfer.
The best alternative to Travelex depends on different factors such as the country you reside in, the amount you wish to send, and the transfer method you choose.
To use the table below, follow these simple steps:
- Read over the transfer methods that Travelex competitors offer.
- Compare Travelex and its competition across parameters such as fees, speed, and minimum transfer amounts.
- Pick a Travelex alternative according to your needs.
Save time and money!
Travelex Competitor Comparison Table
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
XE.com
- 9.1/10
- Online OnlyOne off transfers Phone assistance available
- NO FEES
- NO FEESXE.com transaction fees are contained within the exchange rate offered.
- 1 - 2 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
WorldRemit
- 9.4/10
- Online OnlyOne off transfers Phone assistance available
- First 3 Transfers Fee Free.
Your first overseas transfer Fee Free! Learn more - $3 - 4For example. Sending €10,000
from Australia would incur
€50 fee + 4-5% exchange
rate fee on top of market rates. - 1 - 3 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
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
XE
XE began operations in 1993. It provides international money transfer services to individuals and businesses alike. This money transfer company can be better than Travelex if you’re emigrating or purchasing property overseas. All personal transfers come with no fees. XE Money Transfer (formerly HiFX) operates dedicated websites for different countries.
Pros
- Accepts individual and business clients
- No fees for personal transfers
- Provides spot contracts and limit orders
- Headquartered in Canada, offices also in the U.S. and the UK
- Dedicated websites for residents of Canada, the U.S., the UK, Australia, and New Zealand
- Get customer service and website access in different languages
Cons
- Carries out only bank account transfers
- Does not provide scheduled transfers
TransferWise
TransferWise began operations in 2011. This peer-to-peer international money transfer company has its headquarters in the UK, with offices in Estonia and the US. As with most prominent Travelex competitors, it lets you make payments using bank transfers and debit cards. However, unlike many overseas money transfer companies, it also allows payments through credit cards. To find out more about this service provider, read the entire TransferWise review.
Pros
- Provides services to individuals and businesses
- Simplify signing up using your Google or Facebook account
- Use the “send” and “receive” money options to transfer funds with no more than email addresses
- Transfer as little as you wantPay for your transfer using country-specific methods such as debit cards, credit cards, bank transfers, direct debits, SOFORT, and POLI
- Businesses can open TransferWise Borderless accounts to save in fees when trading in more than 15 currencies
- Headquartered in the UK – offices also in the U.S., Estonia, Hungary, Ukraine, Singapore, Japan, and Australia
- Use its website in English, Spanish, French, Portuguese, Italian, or Dutch
Cons
- Carries out only bank account transfers
- Transfer fee depends on the destination country, the amount transferred, and the payment method
- Does not offer forward contracts or limit orders
- Cannot schedule transfers
- Peer-to-peer transfer facility not available in all countries
WorldRemit
This UK-based alternative to Travelex began offering international fund transfer services in 2010. The company provides its services to residents of as many as 50 countries. Access to its website comes in English, French, and Spanish. Other than its headquarters in the UK, WorldRemit also has offices in the U.S., Canada, Japan, Australia, and New Zealand. Read the WorldRemit review.
Pros
- Different country-specific transfer methods
- Transfer to bank accounts or cash pick up locations
- Top up mobile wallets or airtime
- Minimum transfer limit is £1
- Headquartered in the UK – offices also in the U.S., Canada, Australia, and New Zealand
- Use its website in English, Spanish, or French
Cons
- Accepts only individual customers
- Transfer fee varies according to the currencies involved, the amount being transferred, and the transfer method
- Where you live and the chosen transfer method affect transfer limits
- Does not allow scheduling of transfers
- No forward contracts and limit orders
OFX (Previously OzForex)
Previously known as OzForex, this alternative to Travelex has been in business since 1998, when it began operations as an information only website. Now, it has over 200 employees that serve customers through its offices in Australia, New Zealand, the UK, US, Canada, and Hong Kong. UKForex, USForex, NZForex and CanadianForex are all part of the OFX Group. Within the countries it operates from, this Travelex competitor deserves your attention. Continue reading about OFX/OzForex.
Pros
- Serves individuals, businesses, and online sellers
- Aims to match or beat its competitors’ rates
- Fee-free threshold limits enable free transfers
- Lets you schedule transfers easily
- Provides spot orders, forward contracts, and market orders
- Initiate your transfer online or over the phone
- Headquartered in Australia – offices also in New Zealand, the U.S., the UK, and Hong Kong
- Provides local phone assistance in some countries
Cons
- Only bank account transfers
- No multilingual website
- Can trade in a few currencies only over the phone
CurrencyFair
CurrencyFair is an international money transfer company headquartered in Ireland, with offices in the UK and Australia. Established in 2009, the CurrencyFair website went live in 2010. What differentiates this Travelex competitor from the rest is the fact that it lets you bid for preferred currency rates through the CurrencyFair MarketPlace. This way, you can get lower than prevalent market rates.
This money transfers company rates as a good Travelex alternative in most parts of the world, aside from the US. Residents of the US cannot use this business to send money overseas. If you live in the US and wish to register with CurrencyFair, read this page first.
Pros
- Accepts individual and business clients
- Can get better than market rates through the CurrencyFair MarketPlace
- Transfer any amount over €8
- Allows scheduling of transfers
- Headquartered in Ireland – offices also in the UK and Australia
- Use its website in English, French, and Polish
Cons
- Carries out transfers only to bank accounts
- Pay 0.35% of the transfer amount plus a fixed fee of €3
- Does not offer forward contracts and limit orders
- Predominantly online, not much in the form of phone support
- Cannot register as a customer from the U.S.
WorldFirst
WorldFirst has been in business since 2004, when it began operations out of a South London basement. Within a decade, this Travelex alternative opened offices in Australia, Hong Kong, and Singapore. Depending upon the country of your residence, you can use its services as an individual, business, or online retailer, continue reading WorldFirst Review to learn more.
Pros
- Serves individuals, businesses, and online sellers
- The company applies a transparent pricing band over existing interbank/mid-market rates
- Scheduling transfers is simple
- Offers spot orders and forward contracts
- Creates distinct offers for personal and business customers
- The “World Account” gives you a cost effective way to receive and make payments in various currencies through unique virtual bank account numbers
- Connect your World Account with Xero in minutes
- Headquartered in the UK – offices also in the Netherlands, Hong Kong, Singapore, and Japan
- Use its website in English, French, Dutch, Japanese, or Chinese
- Provides local phone assistance in some countries
Cons
- Only bank account transfers
- Sending limits vary according to your country of residence and the mode of payment
- You cannot use WorldFirst to send money from the U.S.
TorFX
Headquartered in the UK, TorFX began offering international money transfer services in 2004. Currencies Direct acquired this alternative to Travelex in 2011. Now, it has offices in the UK, Europe, US, Australia, and South Africa, with more than 300 employees. You can use its services as an individual or a business. Additional info on TorFX.
Pros
- Serves individuals and businesses
- Tries to beat rates offered by its competitors
- Personal transfers attract no fees
- Allows scheduling of transfers
- Provides spot orders, forward contracts, limit orders, and stop loss orders
- Residents of the UK can benefit through its travel money solutions
Cons
- Only bank account transfers
- Headquartered in the UK – international presence limits to Australia
- Website access only in English
Currencies Direct
This UK based FCA registered Travelex competitor began operations in 1996. It has offices in the UK, US, France, Spain, Portugal, South Africa, and India. It also operates out of Scandinavia, Ireland, and Malta. You can utilize this money transfer company as an individual, a business, or an online seller, keep reading about Currencies Direct.
Pros
- Serves individuals, businesses, and online sellers
- Access to an account manager upon signing up
- Schedule transfers with ease
- Provides spot orders, forward contracts, and limit orders
- Headquartered in the UK – offices also in the U.S., France, Spain, Portugal, South Africa, India, and China
- Use its website in English, Spanish, French, Portuguese, Italian, Swedish, Norwegian, or Chinese
- Residents of the UK can benefit through its travel money solutions
Cons
- Only bank account transfers
- Does not accept customers from all states in the U.S.
Frontierpay
Frontierpay is a UK-based business that specializes in international fund transfers. As soon as you open an account, you have immediate access to a dedicated personal dealer. You can contact your dealer at any time to get the latest exchange rates available. This company was recently acquired by Ebury Partners. Find out more about Frontierpay.
Pros
- Provides services to individuals and businesses
- Access to a personal manager after you sign up
- Personal transfers attract no fees
- Set up scheduled transfers easily
- Provides market orders and forward contracts
- UK- and -Singapore-based numbers for assistance over the phone
- Initiate your transfer online or over the phone
Cons
- Only bank account transfers
- Cannot transfer less than £500
- Headquartered in the UK – only international office in Singapore
- No multilingual website
Azimo
Azimo, a relatively new kid on the block, entered the international fund transfer market in 2012. The company has its headquarters in London, and an office in Krakow. If you live in Europe, using the services of this Travelex competitor might work well for you. You can access the Azimo website in English, French, Spanish, German, Italian, Russian, Polish, Turkish, and Romanian. This company is among the few prominent ones that accepts payments via credit cards. Find out more from Azimo review.
Pros
- Different country-dependant transfer methods
- Transfer to bank accounts or cash pick up locations
- Top up mobile wallets or airtime
- Home delivery of transferred funds available in some countries
- Use its website in English, Spanish, French, Portuguese, Italian, Dutch, Romanian, Russian, Polish, or Turkish
- Email support in various languages
Cons
- Accepts only individual customers
- Can sign up only as a resident of a European country
- Need to pay in a European currency
- Does not let you schedule transfers
- No forward contracts or limit orders
- Transfer fee depends on currencies involved, amount you wish to transfer, and the desired transfer method
- Headquartered in the UK – international presence limits to Poland
Global Reach Group
Global Reach Group, a UK-based alternative to Travelex, began operations in 2002. It has offices in the UK as well as in the Netherlands, Cyprus, and South Africa. You may register with this company as an individual or a business. Website access comes only in English.
Pros
- Provides services for individuals and businesses
- Access to a currency specialist after signing up
- Lets you schedule transfers
- Provides forward contracts, limit orders, and market orders
- Headquartered in the UK – offices also in the Netherlands, South Africa, and Cyprus
Cons
- Only bank account transfers
- No multilingual website
The Big Banks
When it comes to sending money overseas, big banks are becoming increasingly notorious for the astronomical fees they charge. If you deal with businesses that specialize in currency exchange and global fund transfers, you will benefit through better exchange rates. Besides, transfers through Travelex and its competitors are typically faster in comparison to banks. If you wish to save time and money, using the services of Travelex or its competitors is the ideal way to go.
Learn More
- Does TransferWise live up to their hype?
- Who is OFX.com and would you transfer money with them?
- Who is similar to OFX.com?
- Is there anyone better than TransferWise?
- Is CurrencyFair similar to TransferWise?
- Is CurrencyFair’s competition up to the task?
Leave a Reply