Top Remitly Alternatives for International Payments

In today's interconnected world, sending money internationally has become more accessible and necessary than ever. Whether you're supporting family abroad, paying for overseas services, or managing international business transactions, finding the right money transfer service is crucial.

Remitly is a popular choice, but it's not the only option available. For those exploring alternatives, such as Mural, understanding the features, benefits, and limitations of each service can help you make the best decision for your needs.

This guide will explore some of the top alternatives to Remitly, offering insights into each service's unique offerings. We'll delve into the specifics of companies like Mural, Wise, WorldRemit, and more, highlighting what sets them apart. Whether you're looking for low fees, global reach, or trusted legacy, there's likely a service that fits your requirements. Let's explore these options and find the perfect fit for your international payment needs.

Mural

Mural stands out as a versatile platform offering more than just international money transfers. One of its significant advantages is its comprehensive suite of services, including payments, invoicing, bill pay, virtual accounts, and currency conversion. This makes Mural an excellent choice for businesses that need more than just a simple transfer service. You can manage your entire payment process, from sending funds to receiving payments in multiple currencies, all within one platform.

A benefit here is Mural's focus on transparency and efficiency. With features like real-time tracking and automatic reconciliation, you can monitor every transaction and ensure that payments are linked to relevant invoices. This level of integration is especially valuable for businesses looking to streamline their financial operations.

Keep in mind that Mural also supports a wide range of currencies and countries, making it a flexible option for global businesses. For more insights, explore our Comprehensive Global Bulk Business Payment Solutions.

Wise The Smart Choice

Wise, formerly known as TransferWise, is a name that often comes up when discussing international money transfers. A big plus with Wise is its commitment to transparency and low fees. Unlike traditional banks or some other transfer services, Wise uses the mid-market exchange rate with no hidden mark-ups, ensuring you get the best possible rate. This can lead to significant savings over time, especially for frequent transfers.

According to Wise, their customers save on average $3 million a day compared to using a bank for international transfers. This statistic not only highlights the cost-effectiveness of using Wise but also underscores the potential financial impact on users who regularly send money abroad.

Another advantage of Wise is its user-friendly platform and mobile app, which allow you to send, receive, convert, and spend in over 40 currencies. The ease of use combined with the ability to manage your money on the go makes Wise a smart choice for both individuals and businesses. Note that Wise supports transfers to 174 countries, offering a broad reach that can accommodate most international payment needs. For a detailed comparison of transfer methods, see our ACH vs Wire Transfers: Key Differences Explained.

WorldRemit Global Reach

WorldRemit is another strong contender in the realm of international payments, known for its extensive global reach. With the ability to send money to over 130 countries in more than 70 currencies, WorldRemit is a reliable option for those with diverse transfer needs. One advantage of WorldRemit is its focus on accessibility, offering various delivery options such as bank deposits, cash pick-ups, and mobile money.

A benefit here is the convenience of setting up and sending transfers online or through the WorldRemit app. This makes it easy to manage your transfers anytime, anywhere. Side note: while WorldRemit does not support transfers to Europe, its reach in other regions is impressive, making it a great choice for those looking to send money to Africa, Asia, or the Americas. Learn more about managing international payments in our Guide to Managing International FX Payments.

Western Union Trusted Legacy

Western Union is one of the oldest and most trusted names in the money transfer industry, with a legacy dating back to 1861. Its extensive network of agents worldwide is a big plus, especially for those who need to send money to recipients without bank accounts. Western Union's cash payment and pickup options make it a versatile choice for various needs.

One advantage of using Western Union is its range of delivery options, including bank deposits and mobile wallets. This flexibility allows you to choose the most convenient method for your recipient. Keep in mind that Western Union also offers a mobile app for setting up and tracking transfers, adding a layer of convenience for users who prefer managing their transactions on the go. Explore more about global payment options in our Top Western Union Alternatives for Global Use.

MoneyGram Convenience Everywhere

MoneyGram is another well-established player in the international money transfer market, known for its convenience and extensive network. With over 430,000 locations worldwide, MoneyGram offers numerous ways to send and receive money, whether online, via a mobile app, or in person. This makes it a great choice for those who value flexibility in how they manage their transfers.

A benefit here is MoneyGram's support for payments in major currencies to over 200 countries and territories. This broad reach ensures that you can send money almost anywhere you need. Note that MoneyGram's mobile app also provides features for setting up and tracking transfers, offering a user-friendly experience for those who prefer digital solutions. For insights into electronic payment methods, visit our Everything Your Business Needs to Know About Electronic Payments.

OFX Australian Innovation

OFX is an Australian-based money transfer service that brings innovation and reliability to the table. One of its standout features is its competitive exchange rates, which can lead to significant savings for large transfers. This makes OFX an attractive option for businesses and individuals looking to transfer substantial amounts of money internationally.

Another advantage of OFX is its comprehensive online platform and dedicated mobile app, which provide useful features like exchange rate alerts and live rates. These tools can help you stay informed and make the best decisions for your transfers. Keep in mind that OFX supports transfers to over 170 countries in more than 50 currencies, offering a broad range of options for your international payment needs. For more on optimizing your global payment strategy, check out our Ultimate Guide to Multi-Currency Payment Processing.

Xoom Powered by PayPal

Xoom, a service by PayPal, offers a convenient and secure way to send money internationally. One advantage of Xoom is its integration with PayPal, allowing you to use your existing PayPal account to fund transfers. This can be particularly useful for those who already use PayPal for other transactions, providing a seamless experience.

A big plus with Xoom is its money-back guarantee, which ensures you receive a full refund if your money doesn't arrive. This level of assurance can provide peace of mind for users concerned about transfer reliability. Note that Xoom supports transfers to over 160 countries, with various delivery options such as bank deposits and cash pick-ups, catering to a wide range of needs. For a complete understanding of PayPal fees, see our A Complete Guide to PayPal Fees for Goods and Services.

XE Canadian Expertise

XE is a Canadian foreign exchange specialist known for its expertise in currency conversion and international transfers. One benefit here is XE's support for more than 100 currencies, making it a versatile choice for those with diverse transfer needs. Whether you're sending money to Europe, Asia, or the Americas, XE has you covered.

Another advantage of XE is its user-friendly platform and mobile app, which allow you to set up transfers and track them with ease. The app also offers exchange rate alerts and other tools to help you make informed decisions. Keep in mind that XE offers a choice of delivery methods, including bank deposits and cash pick-ups, providing flexibility for both senders and recipients. For more on currency exchange and transfers, consider our Understanding SWIFT Codes for International Transactions.

Conclusion: Comparing Your Options

When considering alternatives to Remitly for international payments, it's essential to compare each option's features, fees, and reach. Services like Wise and OFX offer competitive rates and broad coverage, making them ideal for those prioritizing cost-efficiency. On the other hand, companies like Western Union and MoneyGram offer extensive networks and flexible delivery options, catering to those who need a reliable, in-person service.

For businesses, platforms like Mural provide comprehensive solutions that go beyond simple transfers, integrating payments, invoicing, and more. Meanwhile, Xoom and XE offer unique benefits like PayPal integration and expert currency services. Ultimately, the best choice depends on your specific needs, whether it's low fees, global reach, or additional features. By considering the advantages and limitations of each, you can select the most suitable service for your international payment requirements.

References:

- Mural Payments Blog: Comprehensive Global Bulk Business Payment Solutions

- Wise Blog: ACH vs Wire Transfers Key Differences Explained

- WorldRemit Guide: Managing International FX Payments

- Western Union Blog: Top Western Union Alternatives for Global Use

- MoneyGram Blog: Everything Your Business Needs to Know About Electronic Payments

- OFX Blog: Ultimate Guide to Multi-Currency Payment Processing

- Xoom Blog: A Complete Guide to PayPal Fees for Goods and Services

- XE Blog: Understanding SWIFT Codes for International Transactions