Money Transfer Comparisons

Zelle and Venmo are popular payment providers for customers based in America. Both companies exclusively handles domestic money transfers, a deal-breaker for anyone hoping to send money overseas. If international money transfers are on the agenda, you will need to look elsewhere as both Zelle and Venmo handle US-only transactions. Find out How to Transfer Money Within the USA.

In a bid to find out which brand is the better option for sending international money transfers, we will be exploring each area of Zelle and PayPal’s financial services.

It is worth mentioning early on in this comparison that both companies offer limited global coverage: Zelle only supports domestic transfers in the US, while Google Pay international transfers are restricted to India and Singapore only, although there is mention of future plans for expansion.

Both brands primarily focus on domestic money transfers, or in Cash App’s case, transfers between UK and US customers only.

In 2013, Venmo was acquired by PayPal, and since then it has reported increased growth of 40 million users (between 2017 and 2020). Venmo payments are accepted at more than 2 million retailers in the US and company revenue is worth an estimated $450 million.

Venmo and Cash App are peer-to-peer (P2P) money transfer companies which function primarily as mobile applications. Both companies were founded in the United States; Venmo in 2009 and Cash App in 2013.

Overall, it's difficult to make a direct call between the two companies because of how specialist Payoneer's services are. Payoneer is excellent for businesses, online merchants, and freelancers, but PayPal may be the better choice for sending money to friends and family. Read below to see how we compared Paypal vs Payoneer.

In this comparison we will be weighing up the diverse money transfer services offered by two huge FinTech companies, PayPal and Cash App. Both companies were incorporated in the United States and have successfully developed user-friendly mobile applications.

Due to their advantageous partnership with Wise, N26 is in a better position and therefore wins the award for lowest transfer fees.

Monese and Monzo are two challenger banks born in Britain, having been founded in London’s financial district; but the similarities don’t stop there. Both companies were launched in 2015 and have been making waves in the world of digital banking over the last six years, each taking on the task of enticing customers away from traditional methods of banking and converting them to online banking alternatives.

Monzo would never have come to exist without the founding of Starling Bank; so it is no wonder the two have been set in opposition since the very beginning. Both companies primarily serve their customers through digital banking apps which have been intuitively designed to make online purchases, international money transfers and in-store transactions super streamlined and easy to manage. In this comparison we will examine each of their service and product areas, to discover who is the best: Monzo vs Starling.

Challenger banks, also known as neobanks, are a type of banks that are shaking up the status quo by operating exclusively online or without the traditional expectations of long-established large national banks. They are set up to compete with the bigger banks, by providing more accessible and convenient online alternatives to traditional banking services. Both banks cut overhead costs by operating purely online, removing the need for physical bank branches and saving money in the process.

Despite their differences, Revolut and Monzo attract a similar crowd: technology-savvy customers who are searching for the same high standards upheld by long-standing high street banks, but presented digitally via mobile applications and online platforms. We will now compare how each brand performs in the most important areas covered by any financial service provider.

Overall, MoneyGram has better exchange rates, lower fees, more positive user reviews, and faster transfer times than PayPal. This, in addition to the fact that MoneyGram offers cash pickups as a delivery method, makes it the clear winner in this Moneygram vs Paypal comparison - but that doesn't mean it's always the best service for your transfer needs.

Both Monzo and Wise are UK-based financial services dedicated to breaking the mould in their respective fields, by providing innovative solutions for consumers around the world.

Keep reading, and we’ll look at the details of the services offered by these companies, including the fees charged, exchange rate competitiveness, speed, locations served, and reputation with their customers.

Overall, our findings between Remitly vs Western Union are that you will typically find lower rates, faster transfer times, and more efficient customer service when using Remitly's services. The brand receives excellent reviews, offers competitive rates, and can complete the majority of transfers with minutes. If you are sending to a less well-known destination, however, Western Union may be a viable option for you due to the sheer number of countries it supports.

Overall, Xoom comes up on top in this Ria vs Xoom comparison. The two money transfer operators share similarities, but where Xoom stands apart is its digital-led focus enabling the company to offer more competitive exchange rates, lower fees, and speedy transfer times. On top of that, Xoom has glowing reviews for its ease of use and convenience. While Ria Money Transfer is certainly a reputable transfer provider, the only real selling point that may make them a more appealing option between the two is its thousands of agent locations across the globe, which those who would prefer to avoid...

PayPal is an excellent service for making online payments and sending money between family and friends within the same currency. However, when it comes to sending funds between currencies, Wise offers a more specialist service that enables it to charge lower fees, more favourable exchange rates, and get your money to your recipient in less time.

Between Wise vs Western Union, both providers are major players in the international money transfers space, completing millions of transactions between them and covering hundreds of companies. However, our recommendation would be that Wise is almost always going to provide a more affordable option. Western Union have a complex fee structure with high exchange rate markups (sometimes even matching that of banks), whilst Wise has fast transfer times, no exchange rate markup, and a transparent fee structure.

Both of these money transfer providers are extremely well-respected and secure services for sending your money internationally. However, when it comes to fees, Wise is unmatched – the company’s transparent fee structure and commitment to providing transfers at the mid-market rate leaves Xoom’s fees and exchange rate markup looking unfavourable in every comparison.

MoneyGram and Western Union are two of the biggest money transfer providers operating today, with decades of experience to back up their services. The two operators are very similar in many ways. Between Western Union vs MoneyGram, both operate in a wide range of countries worldwide with hundreds of thousands of agent locations to make transfers more convenient (although MoneyGram's 350,000 locations is a little less wide-spread as Western Union's 500,000 locations), and both operators have made steps to modernise their services with apps in recent years.

Our Western Union vs PayPal comparison has found that Western Union offers faster transfer times, more favourable exchange rates, and lower fees than PayPal. While PayPal does have it's advantages for more convenient transfers domestically, Western Union is the better choice for international transfers.

If you do not have either one, here’s a quick overview of when it’s best to use Revolut or Wise:

Xe and Wise are both world leaders in currency transfers and picking one or the other might be difficult.

Our overall findings from comparing Western Union vs Xoom on a number of aspects, including fees, exchange rates, and transfer times, is that Xoom overall offers a more competitive service. However, Western Union’s wide-reaching network and thousands of agent locations is a big selling point for some. In this summary, we'll compare the two companies' fees, exchange rates, transfer times, accessibility and security, location coverage, and more to give an accurate and clear breakdown of which operator might be best for you.

Monese and Revolut are two UK-based challenger banks born and bred in London’s financial district. Both companies aim to develop digital financial services that transform traditional methods of banking, to suit the needs of modern day consumers.

Having assessed the credentials of each brand, we will now turn our attention to understanding the cost, speed and global coverage of their international money transfer services.