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Zing vs the other apps on the market
To be clear, Zing is a decent product for smaller transfers and for UK users.
The company offers a total cost of transfer of just 0.2% (or with no charge for up to £500 per month). You can also get a multi-currency card that allows spending in over 20 currencies and an app that is easy to use.
There’s also a rotating selection of rewards available. For example, until recently you could get 10% off booking.com through the app. Our money transfer offers page will have the latest options.
There’s a few things Zing doesn’t offer:
Transfers above £40,000
Local EUR and USD accounts
Access to users outside of the UK
Account management for those who want it
Wise is one of, if not the, biggest money transfer companies in the world.
They’re the company most similar to Zing on the list. They offer multi-currency account access and competitive pricing. This makes them one of the cheapest money transfer options on the market.
With Wise, exchange rates are at the mid-market rate and fees start from 0.33%. These have recently dropped from 0.35%.
Exchange rate | Mid-market rate |
|---|---|
Fees | 0.33% |
Transfer limits | £/$/€2 million |
Multi-currency card | Yes |
Account manager | Available on transfers over £/$/€20,000 |
Available in | USA, UK, Canada, Australia, Europe and more |
For multi-currency spending, you also get the extra perk of up to 19 accounts which span USD, EUR, AED and NZD.
This makes them a great alternative for anyone looking to live abroad. Using a multi-currency account makes receiving payments cheaper.
You can also earn interest on USD, EUR and GBP accounts.
At the time of writing, these are:
GBP: 4.49%
USD: 5.06%
EUR: 3.44%
Also, compared to Zing, overall limits are much, much higher. These are £2 million per day, vs the £40,000 offered by Zing.
Revolut is similar to Zing in many ways. An account comes with perks like RevPoints which allow you to earn money on what you spend.
You can get a local account in the UK or USA, giving you the extra option against Zing. On top of this, you can hold and send around 40 currencies as well.
Exchange rates start from 0.4% and fees start creeping in at around 0.5% as well. You’ll also pay an extra 1% to transfer at weekends.
Exchange rate | 0.4% + 1% at weekends |
|---|---|
Fees | From 0.5% |
Transfer limits | £/$/€250,000 |
Multi-currency card | Yes |
Account manager | Not available |
Available in | USA and UK |
Revolut offers a couple of decent perks which you won’t find with Zing.
The company offers RevPoints. These are loyalty points for money spent through a Revolut card. These will get you money off things like hotels and provide you with air miles as well.
Then, there's also a huge P2P payment network. This offers fast transfers between Revolut users exclusively.
Interest is also available on Revolut balances. This is up to 4.25% across GBP, USD and EUR.
Wondering how Wise, Revolut and Zing stack up?
Here's some more detail on the trio of companies, side-by-side.
TorFX is an alternative to Zing for UK users, specifically in need of large transfers.
The currency broker provides hands-on account management for sending money abroad. They are a specialist for international property purchases and business transactions in particular.
The company offers support for a wide range of currencies and also an app for any regular transfer needs.
Exchange rate | 0.3% - 1% |
|---|---|
Fees | No fees |
Transfer limits | No limits |
Multi-currency card | No |
Account manager | Yes |
Available in | UK |
Currency brokers, like TorFX, tend to charge a slightly higher exchange rate. This is agreed ahead of transfers and is negotiable. Something you will not get with Zing, or any digital provider.
While the exchange rate is higher, you do get access to an account manager and currency risk tools. Offering tools like forward contracts makes TorFX a great choice for large transfers.
As a note, forward contracts are not available on Zing as all transfers are immediate.
With TorFX, you don’t get access to things like multi-currency cards. Also, TorFX is not suitable for receiving money, but it is a great alternative to Zing for sending large amounts of money.
WorldRemit is an alternative to Zing for money transfers into cash pickup or mobile money payments.
The company has fees and rates which are a little higher than others on the list. With this, they do provide access to a lot of markets, across Africa in particular, that others do not.
Exchange rate | 0.5% - 1.25% |
|---|---|
Fees | From $1.99 |
Transfer limits | $9,000 per day |
Multi-currency card | No |
Account manager | No |
Available in | USA, UK, Canada, Australia, Europe and more |
Transfer limits are lower than others as well, at $9,000 per day. Access to airtime, mobile money and cash transfers are the key reason you’d use them over Zing.
Airwallex is a Zing money transfer alternative specifically designed for businesses.
Zing currently caters only for personal use. With Airwallex you can add multiple users to one account, manage expenses and raise invoices.
Exchange rate | 0.5% |
|---|---|
Fees | No fees |
Transfer limits | Up to $5,000,000 |
Multi-currency card | Yes |
Account manager | No |
Available in | USA, UK, Canada, Australia, Europe and more |
The company offers some of the more competitive rates for business money transfers, at 0.5%. Although Wise Business does offer them at the same 0.33% for personal transfers.
Airwallex also syncs to accounting software and comes with an API. This allows businesses to create bespoke elements for international transactions.
Need a business account?
Zing isn’t a business provider, but there are plenty available.
Compare different types of business transfer products.
PayPal is a good app for domestic payments, but is not suitable for international money transfers.
Against Zing, and even banks, you will not get a good deal on an international transfer.
When sending money abroad with PayPal, you can expect to pay in excess of 5% of the transfer amount when exchange rates and fees are considered.
Finding the right option
When looking at alternatives to Zing, carry out a search based on the specifics your transfer.
This will give you live rates and prices across all relevant providers. This is a customised view of which company is the best option for your transfer, whether that is Zing or not.
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