5 Tangerine alternatives for sending money abroad

Tangerine offers easy ways to manage your money in CAD - but you can't send or receive international payments with tangerine, which can be a limitation if you need to transact in foreign currencies. Luckily there are plenty of great Tangerine alternatives out there when it's time to send money abroad.

In this article, we will show you 5 alternatives to Tangerine, how they compare and why they might be better than Tangerine.

In our comparison of the best Tangerine alternatives we discovered that:

About Tangerine services in Canada

Tangerine is a digital bank and a subsidiary of Scotiabank, which has products for customers to spend, save, invest and borrow. There are no branches, so services are delivered online and in app through intuitive self service portals.

Tangerine is famous for having low fees, and does have some excellent locally focussed products and services - but it can also be a bit limited in some of its services and scope when it comes to international services.

Here are a few things you can do with Tangerine in Canada:

• Open a savings account including a TFSA Savings Account, RSP Savings Account, RIF Savings Account and a US dollar Savings Account

• Get a No-Fee Daily Chequing Account with a linked debit card - or get a credit card instead

• Access a wide variety of investment tools and products to grow your personal wealth

• Take out a mortgage, loan or line of credit

However, despite this breadth of products, Tangerine does not support international wire payments either coming in or paying out of its account products. This can be tricky if you need to send or receive foreign currencies.

Read on to learn more about sites like Tangerine which offer digital services which include international payments, with just your phone or laptop.

Alternatives to Tangerine comparison 

If you need to send a payment overseas you need a different provider. This guide is here to help.

Let's look at 5 international money transfer providers that compare to Tangerine. To compare, we've taken into account their speed, transparency, ease of use and price when transferring money abroad. We'll start with an overview and then look at each provider one by one in more detail.

*Details correct at time of writing - 7th May 2025

*__The speed of transaction claims depends on individual circumstances and may not be available for all transactions

 To sum up:

💡 OFX is a good alternative to Tangerine because you can arrange payments to a broad selection of currencies online, in app and by phone, with no transfer fees on high value payments

💡 Wise is a good alternative to Tangerine because you can send money with the mid-market rate and low transparent fees to many countries, often instantly

💡 Currencyfair is a good alternative to Tangerine because there are flat transfer fees with low exchange rate markups which can mean you get a low overall cost for a simple digital payment

💡 Xe Money Transfer  is a good alternative to Tangerine because you can send money quickly and easily with a range of payment options, to many different countries

💡 TorFX is a good alternative to Tangerine because you won't pay a transfer fee and you can get help by phone 24/7 if you need it

OFX

OFX is a currency specialist which is known for excellent customer service including a 24/7 phone line which can be reassuring if you're sending a high value payment.

Transfers can be made to many countries and regions globally, with a fee of 15 CAD for smaller payments, waived when you send over 10,000 CAD.

Transfers are usually unlimited which can make this an attractive choice for higher value payments.

Best OFX features 

• Payments you can make online, in app and by phone 24/7

• Send to 170+ countries with transfer fees waived when you send over 10,000 CAD

• Business payments also supported

OFX fees

*Details correct at time of writing - 7th May 2025

OFX vs Tangerine

If you need to send a payment overseas, OFX might be a good alternative to Tangerine because you'll have the reassurance that you can always talk to someone on the phone if you need to, with no limit on the amount you can send and no fee on payments of over 10,000 CAD.

Wise

Wise offers accounts for personal and business customers which you can use to send to 140+ countries with the mid-market exchange rate and low transparent fees from 0.48%.

You can also hold and exchange 40+ currencies in your account, and receive payments conveniently from a selection of countries. When you're sending a payment the money can arrive very quickly in your recipient's account - 60% of Wise transfers are instant, and the vast majority arrive in 24 hours.

Payments have high limits to allow personal and business customers to transact freely.

Best Wise features 

• Send to 140+ countries with the mid-market exchange rate

• Receive payments in foreign currencies with local and SWIFT account details

• Business account, card and payment solutions to manage currencies easily and with low costs

Wise fees

*Details correct at time of writing - 7th May 2025

Wise vs Tangerine

Wise offers digital accounts and debit cards which can hold a broad selection of currencies, with international payments and ways to receive money in foreign currencies conveniently. This can be a very flexible alternative to Tangerine for money management across currencies, with mid-market rates and low, transparent fees.

Currencyfair

Currencyfair offers international payments to 150+ countries. There's a flat fee of around 5 CAD for transfers, set as the equivalent of 3 EUR, and exchange rates may include a markup.

Currencyfair offers payments which can often be delivered on the same day they're sent, with an easy to use app and online system which means you can get your money moving conveniently and quickly.

There are no options to receive money to a Currencyfair holding account, although you can pay into Currencyfair in many currencies in order to fund an outgoing payment.

Best Currencyfair features 

• Send payments to 150+ countries online and in app

• Low flat fees of the equivalent of 3 EUR - about 5 CAD

• Exchange rates have a low, variable markup which can mean the overall costs are very reasonable

Currencyfair fees

*Details correct at time of writing - 7th May 2025

Currencyfair vs Tangerine

Currencyfair offers fast and cheap transfers to many countries which can make it a great site like Tangerine if you need to get your money moving quickly. There are low flat fees, and a reasonable exchange rate to keep overall costs pretty fair.

Xe Money Transfer

Xe Money transfer is part of one of the largest money transfer services on the planet and lets you send money from Canada to 130+ countries.

There are variable fees which can depend on factors like the countries and currencies involved, the value of the payment and how you want to pay.

Once your money is on the move it can be delivered quickly to your recipient's bank account in a very broad selection of currencies.

Payment services are outgoing only - there's no way to receive wires to an Xe account, but you can receive a payment to an eligible bank account via Xe.

Best Xe Money Transfer features 

• Send payments to 130+ countries

• Variable fees which you can adjust by changing your payment method

• Large, well known and reliable company

Xe Money Transfer fees

*Details correct at time of writing - 7th May 2025

Xe Money Transfer vs Tangerine

Xe Money Transfer supports payments to an excellent range of countries with digital transfers you can arrange online and in your Xe app. This can make it a great alternative to Tangerine for intuitive services which have low fees.

TorFX

TorFX is a British company which is a specialist in international payments for personal and business customers. It's known for offering excellent service, and supports many different countries with 40+ currencies available for deposit.

There's no TorFX transfer fee - instead the exchange rate you're offered will include a small fee.

Payments can arrive on the same day for major currencies but may take a day or two for less common currencies.

Best TorFX features 

• Send global payments in 40+ currencies

• Get award winning  support online and by phone

• Services for personal and business customers

TorFX fees

*Details correct at time of writing - 7th May 2025

TorFX vs Tangerine

TorFX could be a good Tangerine alternative if you're looking for excellent service with a phone option to talk through your payment before you transact.

Tangerine alternatives: Comparison

Not all transfer services offer quotes which you can generate instantly without needing an account. In our comparison, for example, you need to sign up to TorFX or Xe Money Transfer to see the rate and fee they'll offer for a payment.

However, some providers do offer an indicative quote for their costs, such as Wise and OFX. To give a feel for how your payment might look, let's take an example of Wise vs OFX on a payment of 1,000 CAD going to the US.

*Details correct at time of writing - 7th May 2025 - taken from comparison page on Wise website

As you can see, in this case your recipient gets more with Wise. However, as all payments are different, and rates and fees do change frequently you'll want to make your own comparisons before you transfer.

Alternatives to Tangerine to receive international payments

Tangerine doesn't support international transfers, so its not possible to receive payments from overseas with them.

If you need to receive money from overseas, for yourself or your business, you might choose to open a multi-currency or foreign currency account to allow you to get paid from abroad more conveniently. Many of the providers we've looked at earlier do not offer this facility - but there are still options out there.

You could choose Wise for personal and business accounts which can receive foreign currency payments, or Airwallex for business transfers only. Or try RBC which offers various single currency accounts in major currencies, which you can use to receive payments to instead. Here's a quick summary:

*Details correct at time of writing - 7th May 2025

Wise Account: receive payments with local and SWIFT account details in a selection of major currencies. Services are available for personal and business customers. There's usually no fee to receive using local account information, but low, variable fees apply on incoming SWIFT transfers.

Airwallex Account: receive business payments in 20+ currencies with local account details. There's no fee for incoming payments, and you can then use your balance to pay contractors and suppliers, to transfer out to your CAD account at home, or to hedge against future exchange rate moves

RBC US and Foreign Currency Accounts: receive payments in USD, GBP, EUR and HKD, to savings accounts - there's also a chequing account for USD. Fees apply on all incoming transfers which vary depending on the currency in question. Accounts don't have cards, so are intended for saving more than day to day use. More information - RBC GBP bank Account

Are the alternatives safe?

Yes. All of the alternatives we have highlighted here are safe to use. The specialist services we have covered were built as digital first businesses, which means that security measures have been incorporated throughout the app and website, to ensure customers and their money are safe.

While the exact approach may vary by provider, you'll find there's 2 factor authentication, easy ways to get help when you need it and thorough account verification processes with all of them.

Are the alternatives regulated in Canada?

The providers we have covered are regulated for the services they offer. Many of them are licensed as businesses in Canada, and as global companies all have to follow licensing and regulatory regimes in a broad selection of different jurisdictions.

Conclusion: What is the best alternative to Tangerine in Canada?

There's no single best alternative to Tangerine in Canada - which works best for you will depend on the service you need and your personal preference. This guide gives you plenty to think about, including digital specialist services you can use alongside Tangerine to get international payment features whenever you need them.

You may consider OFX for unlimited digital transfers overseas, which have no fees on higher value payments, for example.

Or you might prefer Wise for a great all round account and card service that lets you send money, receive incoming payments, and spend with a linked card - with the mid-market rate when you need to convert between currencies.

Use this guide to start your research and to decide on the right solution based on your specific needs.