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5 WorldRemit Alternatives In Canada

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Felix
March 26, 2024

WorldRemit is one of the top international money transfer platforms built to help you send money anywhere in the world. However, while they have gained prominence, having and trying other options helps to optimize convenience and cost-effectiveness.

So, whether you're sending funds to loved ones abroad or conducting business transactions globally, here are 5 WorldRemit alternatives for people in Canada.

WorldRemit Alternatives In Canada

1. Pesa

When thinking of alternatives to WorldRemit, Pesa should be the first name to come to mind. It is one of the recent money transfer platforms that have perfectly hacked the global money transfer service from Canada to anywhere in the world. With the idea of making money move across borders with no hindrances or setbacks, Pesa provides users with a seamless experience of transferring to loved ones anywhere in the world. Some of Pesa’s best features include:

  • There are no fees for transfers and exchange
  • The best exchange rates on the market
  • A multi-currency wallet
  • You also get a Pesa debit card
  • A safe and secure transfer process for your money
  • You also get to track and monitor the process it takes for your money to reach its destination. 

Compared to a lot of other options for money transfer all over the world, Pesa offers some of the best rates to multiple countries in over 30 currencies. Trying out Pesa might be your best bet as a WorldRemit alternative. 

Send and receive money in Canada with Pesa.

2. Western Union

Western Union is one of the most common and popular money transfer services in the world. In existence since 1861, Western Union is a leading service with one of the best experiences and fees for users worldwide, with over 500,000 locations. Some of the features of Western Union that make it a great WorldRemit alternative include:

  • Available in over 200 countries. 
  • It doesn’t require ther receiver to have a bank account
  • There is cash payment and pick up, with help from agents all over the world. 
  • You can use the mobile app to make transfers. 

As great as Western Union is as a great option for money transfer, there are a couple of reasons why it might only sometimes be a great option. The exchange rates for Western Union are usually 5% higher than the mid-market rate, making it a more expensive option than other smaller transfer services. 

3. Remitly

This is a money transfer service that is very similar to Worldremit. With a base in Seattle, Remitly is available in many countries all over the world, including Canada. With the ease of transferring from anywhere you are, Remitly is a great alternative to WorldRemit. Some of Remitly’s features include:

  • Supports around 47 currencies in different parts of the world. 
  • It lets you send money to over 85 countries around the globe. 
  • Discounts on first-time transfers for new customers. 
  • Best for transfer of small amounts to friends and families. 
  • 24/7 customer support on the phone and online. 

Remitly has great features. However, it might not be great for transferring higher amounts. It also requires you to pay extra for an express money transfer service, while the slower one is cheaper. It also requires you to pay additional fees if you want to pay with a credit or debit card. 

4. XE 

XE is a perfect fort for people who are considering using a bigger and more established company to make global money transfers anywhere in the world. They are one of the most beneficial big company alternatives to WordRemit. Some of the features that make XE a good alternative include: 

  • You do not have to pay large flat fees for transfers. 
  • Competitive exchange rates in multiple currencies. 
  • You can send money to any bank account in many countries in the world without paying fees, no matter the amount you’re sending. 

All of these and a lot more are what makes XE stand out as a money transfer option. However, some slight odds make it less suitable as an alternative. For instance, you can't do a cash pick-up with XE, unlike with WorldRemit, where the cash pick-up option is available in different counties. You can only pay and transfer through bank accounts as it doesn’t accept card or cash payments, which can be a problem depending on your needs. 

5. Wise

Formerly known as TransferWise, Wise is another top global money transfer platform that is used all over the world. With features that let you hold a multi-currency account and make fast and cheap international payments, it is a good idea to consider it compared to WorldRemit. Some of Wise’s features for global transfers include: 

  • Offers the exchange rate directly from the mid-market. 
  • It lets you exchange and transfer in over 50 currencies. 
  • Fast transfers. 
  • Straightforward app and website. 

Wise, however, is a better option for smaller transfers as the fees can increase if you have a higher amount to send. It also has limited currency options compared to other options like Pesa and WorldRemit. 

Create a PESA account today - and start sending and receiving money globally.

Felix

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