The battle for supremacy rages on in the field of international fund transfers. In the last couple of decades, some new players, in the form of FinTech companies, have captured a sizeable chunk of the market share. Is there any particular company that’s better than the rest? The answer to this seemingly simple question lies in the details. While one company might work well for someone, you may benefit more by turning to a different alternative.
There are no clear winners in this realm, but a few deserve your attention more than others. Here are the top 9 money transfer companies the world over, in alphabetical order.
Currencies Direct began operations in 1996. Headquartered in the UK, the company also has offices in the US, Spain, France, Portugal, India, and South Africa. It provides services to individuals, businesses, and online sellers. Access to the Currencies Direct website comes in various languages.
Headquartered in Ireland, this company also has offices in the UK and the US. You may use its services as an individual or a business. It provides website access in languages other than English. This company gives you the ability to bid for preferred rates through its peer-to-peer Exchange platform.
FC Exchange has been around since 2005. This London-based company also has offices in Hertfordshire, Cornwall, Cyprus, and South Africa. It provides services to individuals, businesses, and online sellers. Access to the global FC Exchange website comes only in English, although its dedicated website for online sellers from China provides access in Chinese too.
This UK-based company began operations in 2009 and provides services to individuals and businesses. You get to use the Frontierpay website only in English. Once you register, you get access to a personal dealer. This company accepts payments via credit cards.
HiFX is a UK-based company that has been around since 1998, when it began operations as Halewood International Foreign Exchange Limited. You may register as an individual or a business. While the company operates dedicated websites for the US, the UK, Australia, and New Zealand, access comes only in English. If you plan to transfer more than £10,000, you get access to a personal broker. You may pay for your transfer using a credit card.
Headquartered in Australia, OFX began operations in 1998. The company also has offices in the US, the UK, New Zealand, Canada, and Hong Kong. It provides services to individuals, businesses, and online sellers. OFX operates dedicated websites for the US, the UK, Australia, and Canada. However, you may use these websites only in English.
TorFX is a UK-based company that began operations in 2004, and it has a physical presence in Australia as well. It launched a website dedicated for the Australian market in 2013. Access to both TorFX websites comes only in English. It provides services to individuals and businesses.
TransferWise has been around since 2011. Headquartered in the UK, it also has offices in the US and Estonia. It provides services to individuals and businesses, and operates a multilingual website. Residents of some countries may pay using credit cards. The recently launched TransferWise Borderless account lets you hold funds in multiple currencies.
World First began operations in 2004. This UK-based company also has offices in the US, Australia, Hong Kong, and Singapore. It provides services to individuals, businesses, and online sellers. It operates dedicated websites for the UK, the US, Australia, France, China, Japan, Hong Kong, and Singapore. You may use some of these websites in local languages.
The FinTech money transfer company you choose for your next transfer depends on multiple factors. For instance, do you want website access in a language other than English? Aspects such as fees and turnaround times require your consideration. Besides, most leading fund transfer companies tend to offer similar exchange rates that may vary from one day to the next. In such a scenario, it’s best that you make a shortlist in advance and compare your options shortly before a transfer.