Compare the best money transfer services

Wise (formerly TransferWise) is one of the most popular money transfer platforms for its transparent and cost-effective approach to international transfers. Available in 160 countries and supporting 40 currencies, Wise stands out for its complete transparency regarding fees and exchange rates. Unlike many other platforms that include a margin in the exchange rate, Wise applies the real exchange rate (as displayed by financial markets) and charges separate fees, allowing users to clearly understand the cost of each transfer.
Wise applies competitive pricing, combining a fixed fee (generally $0.98) and a variable percentage of the transferred amount (around 0.48% depending on the currencies). This pricing model is particularly attractive for small to medium-sized transfers, as it guarantees great transparency and relatively low costs. Compared to other platforms like OFX, which includes the margin in the exchange rate, or CurrencyFair, which applies a fixed fee of $3, Wise offers a clear and advantageous structure for users who prioritize perfect cost readability.
In terms of transfer times, transfers via Wise generally take up to 2 business days, but some transactions can be processed in a few hours, depending on the currency and country. This timeframe is similar to most competitors, such as OFX or XE, although platforms like Remitly may offer faster options (less than 24 hours). However, for users who are not in a hurry, Wise remains an ideal option.

The XE Money Transfer platform is one of the most popular on the market, with the ability to send money to over 220 countries and support for 139 currencies. XE clearly positions itself as an ideal solution for users who need geographic flexibility and numerous currency options. This extensive coverage far surpasses that of platforms like OFX, which offers 55 currencies and serves 170 countries. For users with complex needs, such as transfers to less common countries, XE offers undeniable added value.
Regarding costs, XE stands out with an advantageous fee structure. Transfers over $250 are free, which is an asset for regular users or those sending larger amounts. For smaller amounts, fees range from $0 to $2, which remains competitive compared to platforms like Wise, where fees include a fixed amount of $0.98 plus a variable percentage. In addition, XE is distinguished by very fast processing times: some transfers can be completed in 1 to 2 hours, which surpasses most competitors, including OFX which requires 1 to 2 days.

OFX is an international money transfer platform that lets you send money to over 170 countries, supporting 55 currencies. This makes it a robust solution for users with diverse transfer needs. Compared to platforms like XE, which offers more currencies (139) and slightly broader coverage (220 countries), OFX remains competitive for users who don't require that extensive reach, while still maintaining substantial global coverage.

OFX transfers don't have a minimum amount requirement, making it flexible for both small and large transfers. Transfer times are reasonably quick, ranging from 1 to 2 days, similar to competitors like Wise or XE. Where OFX truly shines is in its fees: transfers are free, with the margin included in the exchange rate. This simplifies cost understanding for the user. In contrast, platforms like CurrencyFair charge a flat fee of $3 per transfer, while Wise uses a combination of a fixed fee and a variable percentage based on the transfer amount.

Remitly is a money transfer platform suited for users who need to send money quickly internationally, especially to developing countries. With coverage of over 100 currencies and transfers possible to 57 countries, Remitly positions itself as an ideal solution for people looking to transfer money to specific regions. Although its coverage is more limited than players like XE or OFX, it distinguishes itself by its speed and ease of use.

Remitly offers several transfer options depending on the user's urgency. The express transfer allows you to send money in less than 24 hours, often in minutes depending on the destination. In comparison, platforms like OFX or CurrencyFair can take between 1 and 5 days depending on the currency, which makes Remitly very competitive for immediate needs. The economical option, on the other hand, is slower but offers more advantageous exchange rates and reduced fees.

Regarding fees, these vary depending on the country and the transfer method chosen, with costs ranging between 0 and 2% of the amount sent. This flexibility allows users to choose the option that best suits their priorities, whether speed or savings. Compared to other platforms like Wise or TransferGo, which also offer low fees but with additional fixed fees, Remitly stands out with competitive pricing on small amounts and transfers to countries with limited financial infrastructure.

CurrencyFair is a money transfer platform that stands out for its flexibility in currency exchange and transparent pricing. Supporting over 20 currencies and accessible in 150 countries, it might appear more limited compared to platforms like XE or OFX, which offer broader country and currency coverage. However, CurrencyFair focuses on transfer efficiency and optimized exchange rates, especially for users seeking secure money transfers with better cost control.
One of CurrencyFair's key strengths is its pricing model. The fee is fixed at $4.50 CAD, regardless of the transfer amount, providing cost predictability. Unlike other platforms that incorporate margins into exchange rates (like OFX), CurrencyFair offers competitive exchange rates directly accessible through their peer-to-peer marketplace. This allows users to find better rates, which can be particularly advantageous for large transfers. Compared to Wise, which applies a fixed fee plus a variable percentage, CurrencyFair is more transparent and straightforward for users who want to avoid variable fees.
In terms of transfer times, CurrencyFair can sometimes be slower than platforms like XE or TransferGo. Transfers can take up to 5 days depending on the currency, which might be inconvenient for users with urgent needs. However, for those prioritizing optimal exchange rates and willing to wait a bit longer, CurrencyFair remains an attractive option.