In a surprising development, Small World money transfer company suspended its services on June 10th, 2024. Small World money transfer locations across the UK were a go-to way for thousands of people to remit back home. The news led to many seeking other reliable options for sending money abroad.
Today, we’re sharing our pick of the best money transfer companies you can trust. Compare what Paysend, Xoom, and Profee remittance services offer to clients and choose your perfect Small World money transfer alternative.
The demand behind Small World money transfers
Finding the best international money transfer company
Which company offers the cheapest way to send money abroad from the UK?
The best Small World money transfer alternative: key features
The demand behind Small World money transfers
The UK hosts a sizable immigrant population, estimated at 14.4%, which explains the high demand for remittance services. The UK is among the top 20 remittance-sending countries worldwide, with India, Nigeria, and France being the primary receivers.
One of the main reasons why the provider gained popularity was its convenience and accessibility. If you googled “small world money transfer near me,” you would most likely have one of the company’s agents in your area.
Aside from the abundance of the Small World remittance locations, their money transfers tracking feature was also liked by many customers.
While the company could have been your favourite, let us reassure you there are plenty more options to choose from. Today’s article will help you discover a new way of remitting and supporting your loved ones back home.
Finding the best international money transfer company
Profee
Profee is an online money transfer company with a European licence, offering a favourable alternative to wire transfers.
Key features:
- Profee provides low fees and competitive exchange rates.
- Supports transfers to over 65 destinations worldwide.
- Offers an easy-to-navigate online platform and app for seamless transfer management.
- Has a feature similar to the Small World tracking, which allows you to see the status of your transfer in the history section.
- Holds a European licence and adopts advanced security measures.
- Provides special promotional currency exchange rates for specific destinations and offers for regular customers.
Paysend
Paysend is a UK-based fintech money transfer company.
Key features:
- Paysend prides itself on low fees for international transfers.
- Fast processing.
- User-friendly mobile app.
- Allows card-to-card remittances.
Xoom
Xoom (owned by PayPal) is a digital money transfer service headquartered in San Francisco.
Key features:
- Provides options for bank deposits, cash pickups, and mobile wallet deposits depending on the recipient's location.
- Clients can track their transfers.
- Access to customer support in multiple languages.
- Integrates with PayPal accounts for easy funding and transfers.
Which company offers the cheapest way to send money abroad from the UK?
The best way to transfer money internationally is to choose a low-cost service. Your primary focus should be on factors like exchange rates, fees, and transparency. Compare the expenses* involved in sending money from the UK to India using the three services we're reviewing:
| Paysend | Xoom | Profee | |
|---|---|---|---|
| 1 GBP to 1 INR currency exchange rate | 105.0779 INR | 104.5519 INR | 106.9459 INR |
| Fees | 1.00 GBP | 1.99-3.99 GBP | Zero fee for your first transfer, 1 GBP for the following transactions |
*rates as of 9:30 a.m. on June 21, 2024
The comparison reveals Profee is the cheapest way to send money abroad from the UK. It offers the best money transfer rates among the three. Here’s how much your recipient gets when you send 200 GBP to India (rates as of 9:30 a.m. on June 21, 2024):
- Paysend: 20,910.51 INR.
- Xoom: 20,910.00 INR.
- Profee: 21,389.18.
The best Small World money transfer alternative: key features
Creating an account with Profee takes less than ten minutes. Whether you’re signing up via the app or website, our intuitive interface will guide you through the process from start to finish.
Here’s how you can benefit from sending money abroad using our services:
Transfers to several destinations, including Brazil and Nigeria, are zero-fee. To stay updated on the latest offers, subscribe to our newsletter, turn on in-app notifications, and follow us on social media.
Your first remittance is commission-free, regardless of the receiving country.
We usually deliver transfers within minutes.
First-time customers can transfer to multiple locations, including India, Brazil, and Nigeria, with promo exchange rates.
No hidden fees—we display the final amount before you press send. Profee is transparent about charges.
Profee is a licensed European company focused on clients' safety and satisfaction. Your security is our number one priority. We use Tier4 data centres, ensuring maximum resilience, and implement a range of other safety measures.
Some of the best money transfer rates made possible with a smart currency monitoring system. Remit with competitive exchange rates every time.
Transparent tracking—stay informed on the status of your transaction.
We operate online, so there is no need to leave your house and stand in queues to send a remittance to loved ones.
You know what they say: When one door closes, another one opens. Although Small World ceased operations, the market is full of great alternatives. Send a remittance to make your loved ones feel special and show them how much you care. Finding the right service is key, whether it's a birthday gift, helping out with tuition fees or bills, or transferring to your own account. We hope today's comparison helped you find the best international money transfer solution.
