4 Ria Money Transfer Alternatives In Canada

Author

Felix

March 26, 2024

Ria Money Transfer is a payment option for lots of people sending or receiving money across international boundaries. It is available in over 190 countries and territories, has over 500,000 agents worldwide, offers tracking capabilities for each transfer, and has a complex fee structure. Like every older payment platform, Ria offers users 3 different channels to send money–online, via the mobile app, or a physical location.

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Key Features

Available in 190+ countries and territories

Advance transfer fee ranges from $0 to as high as $35

Markup on the exchange rate offered

Trusted financial service brand

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In this article, we will look at Ria Money alternatives like WorldFirst, WorldRemit, OFX, Transfast, and Pesa - a digital Cross-border financial service provider offering a convenient way to send and receive money internationally for free and at the best exchange rates in the market.

Pesa: The Instant and Secure International Money Transfer

Pesa offers secure and free money transfers from Canada, or the United Kingdom to over 50 countries. With Pesa, you can send send and receive money at no extra fee. The best part is you are guaranteed the best rates in the market with no surprises. What does this mean for you? This means when you send money your recipients get exactly what you sent, and you end up saving big when you send with Pesa. So, if you are looking for a convenient, secure and fee-free way to send or receive money internationally, send with Pesa.

One of the great Pesa feature is the transparent pricing - instant money transfers and zero surprises. However, there's a trade-off. Pesa doesn’t offer a cash pickup option for receivers.

Also you'll never have to worry about the safety of your money, because Pesa is licensed and provides thorough security measures to help protect you.

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Get your free Pesa account

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Send and receive money in Canada with Pesa.

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Alternatives To Ria Money In Canada

Xoom

Xoom offers money transfers to over 140 countries, which is pretty impressive. Plus, they have different ways to send money to your recipient– direct bank deposit, cash pickup, cash home delivery in some countries, and even mobile phone top-ups. Unfortunately, not all these options are available everywhere.

Xoom has a fairly complicated charging structure, thus, you should carry out further research before you lock yourself in with Xoom. Compare fees, see which transfer methods are available in your recipient’s country, and decide.

Key Features & Fees

International transfer through pick-up: from 4.99 CAD

Transfer through bank deposit: from 2.99 CAD

International transfer exchange rate markup: Up to 4.99%

Account Levels with Transfer Limits

Remitly

Remitly offers remittance services, which means you can send money to someone in another country and also carry out Forex. Remitly makes things convenient by letting you set up the transfer online or through their mobile app. You choose the payment method that works best for you and how quickly you want the money to arrive. There are typically two options: a slower but cheaper "Economy" delivery or a faster but pricier "Express" service.

For receiving the money, Remitly offers a few different options. The recipient can get it deposited directly into their mobile money account or bank account, or they can pick it up as cash.

Key Features & Fees

Third-party fee is hidden

Markup on mid-market rate

Minimum Transaction of 1,000 USD

WorldRemit

WorldRemit specialises in money transfers with two payout options: sending money directly to a bank account or having it picked up in cash from one of their agents in over 130 countries. They work with over 70 currencies, so you've got a good chance of finding what you need.

WorldRemit's exchange rates might not be the most competitive, and they charge a flat fee of 3.99 CAD for international transfers. So, be sure to factor these costs in when making a decision.

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