5 Alternative Money Transfer Companies to CurrencyFair 2024
Need to send a payment abroad? Wondering if CurrencyFair is the best value option out there? Join us as we explore 5 CurrencyFair alternatives, rating them in terms of value, speed and ease of use to make sure you have everything you need to choose the best option for you.
Whether you’re looking for a quick single exchange or perhaps planning to set up multiple transfers to different currencies, we’re here to tell you everything you need to know.
CurrencyFair Alternatives
| Provider | 💡 Great for |
|---|---|
| OFX | Transfer online, in app and by phone, to 170+ countries with no fee and a fair exchange rate |
| Remitly | Convenient payments to 170+ countries and territories with a range of payout options including cash collections |
| Wise | Send payments to 160+ countries with the mid-market rate and low, transparent fees |
| XE Money Transfer | Fast secure payments, to 130+ countries, with competitive rates |
| PayPal/Xoom | Transfer to PayPal accounts in 110+ countries, often instantly – or use Xoom for more payment types and destinations |
Alternatives to CurrencyFair comparison
Before we get into the details of the companies like CurrencyFair we will look at today, let’s get an overview:
| Provider | Fees | Exchange rates | Speed | Coverage |
|---|---|---|---|---|
| Currencyfair | 3 EUR flat fee (or equivalent) | Exchange rate includes a markup, average of 0.53% | Usually within 24 hours | 150 countries |
| OFX | No transfer fee | Exchange rate includes a markup | 1 – 2 days | 170+ countries |
| Remitly | Variable fee | Exchange rate includes a markup | Variable delivery time based on payment method | 170+ countries |
| Wise | Variable fee from 0.33% | Mid-market exchange rate | 50% arrive instantly, 90% arrive in 24 hours* | 160+ countries |
| XE Money transfer | Variable fee | Exchange rate includes a markup | Variable delivery time based on payment method | 130+ countries |
| PayPal/Xoom | 5% + applicable domestic fee (up to 2.9%) | Exchange rate includes a markup of 3% or 4% | Transfers to PayPal can be instant | PayPal accounts in 110+ countries; additional services available on Xoom |
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
To summarize:
OFX: could be a good alternative to CurrencyFair if you’d like to send with no upfront transfer fee, particularly if you prefer to set up your payment by phone
Remitly: might be a strong CurrencyFair alternative for customers sending money for cash collection, with a very good international agent network
Wise: consider Wise as a CurrencyFair alternative if you want to send a payment with the mid-market exchange rate, low fees, and a fast delivery
XE Money transfer: could be an alternative to CurrencyFair if you’re sending a payment to a bank in any of the 130+ supported countries
PayPal: consider PayPal as a CurrencyFair alternative if you’d prefer to send to a PayPal account rather than a bank, or choose Xoom for more delivery options
OFX
| 💡No transfer fee for payments from the US, with coverage across 170+ countries |
OFX is an Australian company founded in 1998, which is very popular and has offices all over the world. OFX boasts an easy-to-use website and app, making it simple and fast to complete a money transfer. OFX also offers a 24/7 phone service if you’d prefer to talk through your payment options – which can be reassuring when sending higher value transfers.
From the US there is no OFX fee to send a payment. Instead, a small markup is added to the exchange rate being used. Transfers are available in 50+ currencies to 170+ countries, which usually settle in a day or two.
| OFX pros | OFX cons |
|---|---|
| ✅ No transfer fee ✅ Phone service available 24/7 if you need it ✅ Very good customer reviews ✅ Money delivered between 1-2 business days ✅ Easy-to-navigate website with simply, transparent information | ❌ Minimum transfer amounts may apply ❌ Exchange rates include a markup ❌ To find out OFX customer rates, you must login or set up an account |
OFX or CurrencyFair?
| Features | OFX | CurrencyFair |
|---|---|---|
| Transfer fees | No transfer fee | Flat fee, equivalent to 3 EUR |
| Exchange rates | Exchange rate includes a variable margin | Average markup of 0.53% |
| Transfer speed | 1 – 2 days | Usually within 24 hours |
| Coverage | 170+ countries | 150+ countries |
| Sending transfers | Online, in app, by phone | Online and in app |
OFX doesn’t have a fee for sending a transfer – but that doesn’t mean it’s an entirely free service. Instead, there’s a small charge built into the exchange rate being used to convert your dollars to the currency you need for deposit. Compare the rates available from OFX and CurrencyFair to see which is best for your specific transfer.
Remitly
| 💡Send money to 170+ countries, to banks, mobile money accounts and for cash collection |
Remitly is a US-based foreign exchange company founded in 2011. Their aim is to make it easier and fairer for those working away from their families and friends to send money back home. As a result, a lot of the currencies supported are commonly used for overseas remittances. If this is something you need, then it’s well worth having a look at Remitly’s supported currencies.
Remitly has a good range of payout options including sending money to mobile wallets and for cash collection. This can make it easier to get money quickly to someone who may not have easy access to a bank account or an ATM.
| Remitly pros | Remitly cons |
|---|---|
| ✅ Fast payments to a good range of countries ✅ Send as bank transfer, cash pick up, home delivery, mobile wallet ✅ Low minimum transfer fee applied ✅ In some countries there are Express or Economy options to transfer funds ✅ Some less common currencies are supported | ❌ Adds mark-up on some exchange rates for certain currency pairs ❌ Cash pick-up or home delivery options may incur additional costs ❌ Not all payment options are available to all countries |
Remitly or CurrencyFair?
| Features | Remitly | CurrencyFair |
|---|---|---|
| Transfer fees | Variable based on payment method | Flat fee, equivalent to 3 EUR |
| Exchange rates | Rate includes a markup | Average markup of 0.53% |
| Transfer speed | Variable based on payment method | Usually within 24 hours |
| Coverage | 170+ countries | 150+ countries |
| Sending transfers | Online and in app | Online and in app |
Remitly offers a different service to customers than other competitors, and as a result it stands as quite a different alternative to CurrencyFair. Remitly has built their product specifically to help workers send money to their home country and so you’ll find a very good range of currencies supported, including less common ones – and ways to send for cash collection or delivery, too. Compare your options with CurrencyFair and Remitly to see which suits you best.
Wise
| 💡Fast transfers to 160+ countries with the mid-market rate and low, transparent fees |
Wise is an international transfer provider founded in the UK back in 2011. Wise supports payments to 160+ countries in 40+ currencies, which can arrive quickly or even instantly in some cases.
Wise currency exchange uses the mid-market rate which can keep costs down – and as all the fees you pay are split out for transparency, it’s very easy to see what your transfer is costing you.
Wise payments can be deposited to bank and mobile money accounts – or your recipient could open a Wise account themselves, and have money delivered there in a selection of currencies.
| Wise pros | Wise cons |
|---|---|
| ✅ Converts money at the mid-market rate (no mark-up or conversion fee applied) ✅ Supports 40+ currencies for currency exchange ✅ Send to bank and mobile money accounts in 160+ countries ✅ Transfers can be fast or even instant in some cases ✅ Popular and well liked provider serving 16+ million customers globally | ❌ Variable transfer fees ❌ Delivery times can vary depending on the destination ❌ No cash payout service |
Wise or CurrencyFair?
| Features | Wise | CurrencyFair |
|---|---|---|
| Transfer fees | From 0.33% | Flat fee, equivalent to 3 EUR |
| Exchange rates | Mid-market rate | Average markup of 0.53% |
| Transfer speed | 50% instant, 90% arrive in 24 hours | Usually within 24 hours |
| Coverage | 160+ countries | 150+ countries |
| Sending transfers | Online and in app | Online and in app |
Wise offers fast and efficient transfers which use the mid-market exchange rate and low fees which vary by currency.
You can check and compare the Wise fee for your transfer easily, and without needing to register a Wise account, making it simple to see which offers the better value for your specific payment.
Learn more on Wise vs Currencyfair comparison.
XE Money Transfer
| 💡Send transfers to 130+ countries online an in app with fast payments and an easy to use service |
XE money transfer is a very well established provider for international money transfers and supports 130+ countries. You can register and set up your payment online and in app, with varied fees and exchange rate markups depending on the details of your transfer. Payments can be delivered to bank and mobile money accounts and in some countries you can also select a cash collection option.
XE also provides a huge amount of data about exchange rates which can be helpful if you’re making large or regular payments and want to track fluctuations in the rates which apply.
| XE Money Transfer pros | XE Money Transfer cons |
|---|---|
| ✅ Good selection of countries supported ✅ Send to banks, mobile money accounts or as cash ✅ Pay by card or bank transfer ✅ Large and trusted organization ✅ Access live and historic exchange rate data for tracking | ❌ Variable transfer fees ❌ Exchange rates include a markup ❌ Not all services available in all destination countries |
XE Money Transfer or CurrencyFair?
| Features | XE Money Transfer | CurrencyFair |
|---|---|---|
| Transfer fees | Variable based on destination | Flat fee, equivalent to 3 EUR |
| Exchange rates | Rate includes a variable markup | Average markup of 0.53% |
| Transfer speed | Variable based on destination | Usually within 24 hours |
| Coverage | 130+ countries | 150+ countries |
| Sending transfers | Online and in app | Online and in app |
XE is a respected and well known provider for money transfers, offering a good selection of supported currencies and some helpful pay out options including cash collections. Compare XE and CurrencyFair for your transfer to see which works out best.
PayPal
| 💡Send to PayPal accounts overseas with PayPal – or choose Xoom for transfers to banks and for cash collection |
You will have heard of PayPal before; it’s one of the biggest online payments systems in the world. You can use PayPal to send money to other PayPal accounts internationally, and it also supports international money transfers to banks and for cash collection through its Xoom service. PayPal to PayPal transfers can be instant, but do have quite high fees of 5% plus currency conversion costs. Additional fees may apply if you pay by card.
Xoom is easy to use and has excellent payout options with a broad range of supported countries. To use Xoom you’ll need to register an account – it’s not the same company as PayPal, even though they’re in the same group.
| PayPal pros | PayPal cons |
|---|---|
| ✅ Send with just an email address ✅ A number of payment options available for pay in and pay out ✅ Good range of supported countries ✅ Money can be delivered in a number of hours in most occasions ✅ Secure and convenient | ❌ 5% international transfer fee on top of any domestic charge payable ❌ Currency exchange incurs a fee ❌ Not all services available in all destinations |
PayPal or CurrencyFair?
| Features | PayPal | CurrencyFair |
|---|---|---|
| Transfer fees | 5% + applicable local transfer fee | Flat fee, equivalent to 3 EUR |
| Exchange rates | 3% or 4% fee added | Average markup of 0.53% |
| Transfer speed | Can be instant | Usually within 24 hours |
| Coverage | 110 countries with PayPal, additional options with Xoom | 150+ countries |
| Sending transfers | Online and in app | Online and in app |
Compare both PayPal and Xoom against CurrencyFair to see if either suits you. PayPal’s Xoom service is highly ranked among customers worldwide. It offers a larger menu of options compared to using PayPal’s send money function, such as the ability to pay bills directly or allow the recipient to draw out cash in local currency, plus your normal bank account transfers.
Alternatives to CurrencyFair: Conclusion
Transferring money doesn’t need to be complicated or a hassle. There are many foreign exchange alternatives to CurrencyFair, and when transferring money, you need to be confident in who you’re choosing to use. Some provide better or worse exchange rates while others provide different transfer services which may suit your needs better.
For help getting the cheapest alternatives to CurrencyFair check out our international money transfer comparison table.
Here’s a reminder of the providers we’ve looked at:
- OFX – No fee and competitive exchange rates with a great app and an easy-to-navigate website
- Remitly – Strong choice if you are looking to transfer money to less popular destinations and currencies
- Wise – Easy to use through their app, with transparent fees and no exchange rate markup. See our review here.
- XE Money transfer – Good range of pay in and pay out options available, with 130+ countries served from the US
- PayPal/Xoom – PayPal’s Xoom service can offer a lot of flexibility, security and range of services which are supported by Paypal.
Alternatives to CurrencyFair FAQs
Is there a better alternative to CurrencyFair?
The best provider for an international money transfer will depend on the specifics of the payment you need to make. Compare a few, including Wise for fast payments with the mid-market rate, or OFX for transfers which have no upfront fee, to 170+ countries globally.
Is there a faster alternative to CurrencyFair?
Delivery times for any international payment will vary based on the details of the transfer. Compare CurrencyFair with an alternative like Remitly which can offer cash collection services which are often very fast if you pay with a card.
Is there a cheaper alternative to CurrencyFair?
Compare the costs of CurrencyFair with alternatives like Wise which has variable fees from 0.33%, or OFX which doesn’t use a transfer fee for payments from the US. You’ll need to compare both the fees and the exchange rates available from all providers to get a clear view of which is cheapest for your transfer.
Is there a safer alternative to CurrencyFair?
All of the providers we have covered in this guide are considered to be safe to use. We’ve looked at digital first services which have security features built in as a standard, which can help keep your account and money safe. For example:
- OFX has a secure app but also a 24/7 phone line if you have any questions or problems
- Remitly offers secure account login and verification processes
- Wise has various ways to manage, track and view your payments from the app for safety
- XE Money transfer is one of the largest money transfer services i the world and offers industry level security on all payments
- PayPal offers protections to account users, as well as secure login and verification processes
