6 Best Wise Alternatives for International Payments

The increasing interconnectivity around the world has allowed entrepreneurs and businesses to transact and conduct their business globally. Facilitating seamless cross-border transactions, Wise is a popular choice amongst the community for sending and receiving international payments. 

However, with the maturity of the money market, more and more businesses are offering this seamlessness, and few of them, such as doola Money, do it at a fraction of the cost that platforms like Wise charge their customers (more on that later)

From accounting needs to financial use cases, it is highly possible that Wise doesn’t exactly meet the needs of many businesses and freelancers.

Whether you’re a freelancer sending a quick invoice or a business managing global operations, finding the perfect alternative to Wise requires careful consideration.

This comprehensive guide explores some of the most compelling alternatives to Wise, categorized by their unique strengths and target audiences.

Let’s dive in!

Criteria for Selecting the Top Choices

Before exploring specific providers, consider these key factors when selecting your ideal Wise alternative:

  • Transfer Fees: Transparency and competitiveness are crucial. Look for providers with clear fee structures and compare them against your typical transfer needs.

  • Transfer Speed: Do you need instant transfers or is a few-day turnaround acceptable? Different providers offer various speed options with corresponding fee structures.

  • Supported Currencies: Ensure the provider supports the currencies you regularly need for sending and receiving payments.

  • Payment Methods: Consider your preferred methods for sending and receiving funds, such as bank transfers, debit cards, or cash pickups.

  • Account Features: Do you need a multi-currency account for holding balances or a linked debit card for international spending? Some providers offer these as add-ons.

Overview of Each Service’s Unique Features

Here is a quick breakdown of all the Wise alternatives, along with a snapshot of unique features each one offers and the businesses they are the best for. This will help you get a basic overview of how all the options compare against each other. 

Wise Alternative Unique Features Best For
doola LLC formation services, EIN and bank account setup assistance, compliance support, integration with major U.S. payment processors, tax advice, accounting requirements. Entrepreneurs who want to establish and manage a U.S.-based business. doola is particularly useful for those needing comprehensive support in navigating U.S. incorporation, banking, and tax systems from abroad.
Revolut Multi-Currency Business Accounts, Local Accounts, FX ServicesBusiness CardsPayroll Services, CryptocurrenciesAPIs Businesses based out ot Australia, Ireland, France, Romania, the UK, Lithuania, and the US
OFX International transfers in 50+ currencies to 170+ countries, Global Currency Accounts, Mass payments, FX services, Plugins Businesses with international clients across multiple geographies
Payoneer International Transfers, Business Cards, Batch Payment, Business Accounts, Integrations Businesses based out of the following geographies: US, EU, the UK, Australia, Hong Kong, Singapore, Japan, Canada, and UAE
Xoom Bank Account Deposits, Deposit to Debit Cards, Cash Pickups, Cash Delivery to Recipient’s Door Businesses seeking cash-based remittances
Western Union Global Cash Pickup Network, Near Instant Transfers, Larger Network Reach Businesses seeking payments to people with no bank accounts, remote areas and speed over urgent transfers

Comparing Transaction Speed and Customer Service Quality

Overview of Each Service’s Unique Features

Choosing an international money transfer service involves a delicate balance between speed, cost, and customer support. 

Here’s a breakdown of how Wise alternatives stack up in these crucial areas:

Transaction Speed

  • Fastest: 

With doola you can settle your payments in as less as one day in some cases.

  • Swift: 

Xoom and PayPal: Offer expedited transfer options for faster delivery within 1-2 business days.

  • Standard (1-4 business days): 

Revolut, OFX, Payoneer: Reliable processing times for most transfers.

Customer Service Quality

  • Multiple Channels:

doola provide comprehensive customer support options including live chat, phone support, and email. Other options also offer a nuanced level of support to their customers over multiple channels.

  • Phone Support Focus: 

OFX and Western Union: Offer phone support as a primary channel, catering to those who prefer personalized assistance.

  • Limited Options: 

Payoneer and Xoom: Customer support might be primarily online-based (email, chat) with potentially limited phone access.

Here’s a table summarizing the key points:

Provider Transaction Speed Customer Service
doola Fast (1 day) Phone, e-mail, chat
Xoom Swift (1-2 business days) Limited Channels (mostly online)
PayPal Swift (1-2 business days) Multiple Channels (live chat, phone, email)
Revolut Standard (1-4 business days) Multiple Channels (live chat, phone, email)
OFX Standard (1-4 business days) Phone Support Focus
Payoneer Standard (1-4 business days) Limited Channels (mostly online)

Additional Considerations

  • Complexity of Transfer: More complex transfers involving currency conversions or intermediary banks might affect processing times for all providers.
  • Verification Requirements: New users may experience delays during initial account verification for some services.

Remember, the ideal choice depends on your specific needs.

  • For urgent transfers: 

Prioritize Western Union for its potential near-instant option.

  • For a balance of speed and support: 

Consider doola Money or Revolut with their expedited transfer options and multiple customer support channels.

  • For personalized phone support: 

OFX or doola Money might be suitable choices.

6 Best Wise Alternatives for International Payments

Best Wise Alternatives

1. doola Money

The platform of choice for global entrepreneurs, doola Money offers unparalleled services for international payments. Their core offering is to assist entrepreneurs worldwide. In this endeavor, doola provides the tools you need to strengthen your business. Allowing you to send and receive payments in more than 100 countries, doola supports every primary currency. 

With fast payment settlement, robust security, and customer-centricity, doola is a top alternative for Wise-level seamlessness without burning through the pockets. 

Unique Features:

  • Widespread Acceptance: Millions of online merchants worldwide accept doola, making it a versatile tool for international payments.

  • FDIC-insured: Backed by US security, with doola you can have the assurance that your money is in safe hands. 

  • EIN and bank account setup: doola not only enables your international business, but assists clients in every step of the way.

    Pricing Comparison:

    doola does not charge anything for opening an account and maintaining a balance. You will only pay a nominal 1% fee in most cases when you make international transfers and the funds are converted into local currency.  

    2. Revolut

    Revolut goes beyond just international transfers. They offer multi-currency accounts that allow you to hold and manage various currencies, along with linked debit or virtual cards for international spending. While transfers typically take 1-4 business days, Revolut provides a comprehensive international finance solution.

    Unique Features:

    • Multi-Currency Accounts: Hold and manage multiple currencies within your Revolut account, offering flexibility for international transactions.

    • Linked Debit/Virtual Cards: Spend directly in various currencies using the linked debit or virtual card, eliminating the need for currency exchange fees for everyday purchases.

    • Fee-Free Transfers (Limited): Revolut offers a free tier with a limited number of fee-free transfers per month. Paid tiers unlock additional features and higher transfer limits.

    Pricing Comparison:

    Revolut’s pricing structure depends on the chosen account tier. 

    Here’s a general overview:

    • Free Tier: Limited number of fee-free transfers and currency exchanges per month.

    • Paid Tiers: Unlock additional features like higher transfer limits, airport lounge access, and travel insurance, often with a monthly subscription fee.

    3. OFX 

    OFX excels at secure and transparent international money transfers for both personal and business needs. They offer competitive exchange rates with a clear fee structure, allowing you to plan your transfers effectively. While transfers typically take 1-4 business days, OFX prioritizes transparency and customer support.

    Unique Features:

    • Competitive Rates and Transparency: OFX boasts competitive exchange rates with minimal markups compared to the mid-market rate. Additionally, their fee structure is transparent, allowing you to see the total cost upfront.

    • Focus on Security: OFX prioritizes security with features like multi-factor authentication and bank-level encryption to safeguard your financial information.

    • Phone Support: OFX offers dedicated phone support for those who prefer personalized assistance with their transfers.

    Pricing Comparison:

    OFX offers a clear breakdown of fees, including:

    • Transfer Fees: Fees typically consist of a flat fee per transfer, which may vary depending on the transfer amount and destination country.

    • Currency Conversion: OFX uses a competitive exchange rate with a minimal markup compared to the mid-market rate.

    4. Payoneer 

    Payoneer caters specifically to the needs of freelancers and businesses that operate internationally. They offer a unique combination of services, including international money transfers, receiving payments from clients or marketplaces, and managing virtual debit cards for spending in various currencies. Transfers typically take 1-4 business days.

    Unique Features:

    • Freelancer-Friendly Platform: Payoneer streamlines the process of receiving payments from international clients or marketplaces. They offer local receiving accounts in select countries, simplifying the collection process.

    • Virtual Debit Cards: Payoneer provides virtual debit cards linked to your account, allowing you to spend internationally with ease and avoid foreign transaction fees.

    • Payment Solutions for Businesses: Payoneer offers various business solutions, including paying international contractors, managing mass payouts, and simplifying tax compliance for international transactions.

    Pricing Comparison:

    Payoneer’s fees can vary depending on the service used and your account type. Here’s a general breakdown:

    • Transfer Fees: Fees may apply for sending and receiving international transfers.

    • Transaction Fees: Certain transactions like card usage or ATM withdrawals may incur additional fees.

    • Account Inactivity Fees: Inactive accounts might be subject to monthly fees.

    5. Xoom 

    Xoom caters to international money transfers with a focus on user-friendliness and convenience. They offer online transfers to a wide range of countries, often with delivery within 1-2 business days. While not the fastest option, Xoom provides a good balance between speed and ease of use.

    Unique Features:

    • User-Friendly Platform: Xoom’s platform is known for its simplicity and ease of navigation, making it suitable for users who are new to international transfers.

    • Multiple Delivery Options: Xoom offers recipient flexibility with options like bank deposit, mobile wallet top-up, or cash pickup at select locations.

    • Promotional Offers: Xoom occasionally offers promotions and discounts on transfer fees, making it potentially cost-effective for specific transfers.

    Pricing Comparison:

    Xoom’s fees can vary depending on the transfer amount, destination country, and chosen delivery method. Generally, they fall within the mid-range compared to other providers. Here’s a breakdown:

    • Transfer Fees: Fees typically consist of a fixed fee per transfer and a percentage of the transfer amount. Costs can vary based on the factors mentioned above.

    • Currency Conversion: Xoom uses its own exchange rates, which may include a markup compared to the mid-market rate.

    6. Western Union

    Western Union excels at getting money to your recipient quickly. They boast a vast network of physical agent locations worldwide, allowing for cash pickup even in remote areas.  While online transfers are available, Western Union shines for its walk-in convenience and near-instant transfer options in some cases (availability and processing times may vary by destination country and regulations).

    Unique Features:

    • Unparalleled Cash Pickup Network: Western Union’s extensive network of agent locations makes it a lifeline for those who lack bank accounts or require immediate cash access.

    • Walk-In Convenience: You can initiate transfers in person at a Western Union agent location, offering an alternative to online-only services.

    • Speed Focus: Western Union prioritizes speed, with near-instant transfers available in some corridors.

    Pricing Comparison:

    Western Union’s convenience comes at a cost. Here’s a breakdown of their pricing structure:

    • Transfer Fees: Fees can be on the higher side compared to Wise alternatives, especially for smaller transfer amounts.

    • Less Transparent Exchange Rates: Western Union’s exchange rates may include markups compared to the mid-market rate used by Wise. This can affect the amount received by your recipient.

    How doola Money can make your transfers seamless?

    Addressing our core problem statement – talent is everywhere; opportunity is not, doola offers entrepreneurs the tools and resources they require to put their business on a growth trajectory. Our compliance, bookkeeping, and allied services deliver value to our clients in several ways.

    Sign up for doola Money today and experience superior services that allow us to retain 98%of our clients.



    Why should businesses choose doola Money over other international payment services?

    Doola Money stands out by offering tailored financial services for non-U.S. residents who wish to operate U.S.-based businesses. With competitive transaction fees, superior exchange rates, and a user-friendly platform, doola Money provides a seamless experience. 

    How does doola Money optimize currency exchange rates for international transactions?

    Doola Money utilizes cutting-edge technology to offer real-time exchange rates, ensuring businesses benefit from the most favorable conditions without substantial markups. By minimizing transaction costs and offering transparent pricing, doola Money helps companies save money and manage their finances more effectively in the global market.

    What security measures does doola Money implement to protect international transactions?

    Security is a paramount concern, so we implement robust encryption standards and comply with stringent U.S. regulatory frameworks to safeguard every transaction. These measures protect against fraud and ensure that customer data and financial transactions are secure, giving businesses peace of mind when dealing with international payments.

    How can startups and small businesses particularly benefit from using doola Money for international payments?

    Doola Money is specifically designed to support startups and small businesses’ unique needs with features like minimal transaction fees, straightforward account setup, and comprehensive customer support. Additionally, doola Money offers integration capabilities with various business tools, facilitating smoother operations and enabling businesses to focus on growth rather than financial complexities.

    What limitations do traditional banks have that doola Money overcomes?

    Traditional banks often need to catch up in technology and flexibility, leading to higher fees, slower transaction times, and less favorable exchange rates for international payments. Doola Money overcomes these limitations by providing a streamlined, technology-driven service that offers quick transactions, lower costs, and better exchange rates, making it a more attractive option for businesses engaged in international commerce.

    doola's website is for general information purposes only and doesn't provide official law or tax advice. For tax or legal advice we are happy to connect you to a professional in our network! Please see our terms and privacy policy. Thank you and please don't hesitate to reach out with any questions.

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