Handling international payments can be tiring for freelancers and business owners. Extra fees, slow transfers, and complicated processes can cut into your profits. If you've ever sent money abroad, you may have used Wise, a popular service for transferring money across borders. But Wise isn’t the only option out there.
In this blog, we’ll explore the best Wise alternatives that can help you save money and manage your international payments more easily. Whether you want faster transfers, lower fees, or extra features, we’ve got some great choices for you.
Wise, which used to be called TransferWise, is a company that helps people and businesses send money internationally. It’s known for being transparent about its fees and offering competitive exchange rates. Wise lets you transfer money in over 40 different currencies and supports transfers to more than 70 countries.
Though Wise is a good option for many people, there are other services that might be better for your specific needs. Let’s start by looking at what Wise offers before exploring other options.
Wise is well-known for keeping things clear and simple. Here are some of the key features that users like:
While Wise is popular, it’s not the only choice. Below are five other services that might better suit your needs. Each has its own strengths, whether you need lower fees, faster transfers, or more features.
Revolut is more than just a money transfer service, it’s a digital banking app. You can use it to receive money internationally. Plus, it also comes with extra features like budgeting tools and stock trading. Revolut offers competitive exchange rates and lets you hold multiple currencies, similar to Wise.
Revolut also has perks like premium cards, cashback, and airport lounge access, making it a great option for frequent travellers.
Key Features:
Who Should Use Revolut? Revolut is perfect for people who want more than money transfers. If you need budgeting tools, premium features, or stock trading, It's a great choice.
OFX is a good option if you need to send large amounts of money. It supports over 55 currencies and operates in more than 190 countries. OFX is known for offering better rates on bigger transfers and providing personalized service, which can save you a lot of money over time.
It also offers recurring transfers and connects with platforms like Xero and Shopify, making it a great choice for businesses.
Key Features:
Who Should Use OFX? OFX is ideal for people and businesses sending large amounts of money. If you want personalized service and better rates for big transfers, OFX is a great fit.
Payoneer is a popular choice for freelancers and businesses, especially those who work in e-commerce. It lets you get paid by international clients and offers multi-currency accounts. Payoneer is well-known for its integration with major marketplaces like Amazon and eBay, which makes it easier for sellers to get paid.
It also offers a business debit card, both virtual and physical, so you can easily access your funds.
Key Features:
Who Should Use Payoneer? Payoneer is great for freelancers and businesses that need a versatile payment platform. It’s especially useful for those in e-commerce who want to get paid easily and access their funds quickly.
PayPal is another popular service for sending and receiving money internationally. It offers a wide range of financial services and is widely used for both personal and business transactions.
Key Features of PayPal:
Who Should Use PayPal?
PayPal is suitable for individuals and businesses looking for a versatile and secure platform to send and receive payments globally. It is especially useful for e-commerce transactions and those who require a well-established network.
Winvesta stands out by offering more than just money transfers. You can receive multiple currencies while enjoying low fees and a smooth user experience.
Winvesta’s flat fee structure can save you up to 75% on collection costs compared to traditional banks. Plus, it’s partnered with top-tier banks, so you can trust that your money is safe.
Key Features:
Who Should Use Winvesta? Winvesta is perfect for business owners. entrepreneurs and freelancers who want an all-in-one solution for their international payments. If you’re looking for a reliable, secure, and cost-effective way to manage your global finances, Winvesta is the best choice.
Choosing the right money transfer service can make a big difference, especially if you handle international clients or send money regularly. While Wise is a popular option, alternatives like Revolut, OFX, Payoneer, Remitly, and Winvesta each offer unique benefits that might be a better fit for you. By exploring these services, you can find the one that best meets your needs and helps you save time and money.
Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial expert before choosing a payment platform.