![]() Your first intuition may be to use your bank or Paypal to send money to a friend or family member abroad. Option 2 - Banks, PayPal, and Legacy Solutions The platform offers various pay-in and pay-out options (including card payments, bank transfers, and cash services) and supports money transfers to over 85 countries worldwide. Remitly is a US-based digital remittance service that's frequently the fastest and cheapest way to send money internationally on Monito. Depending on where you want to send money, companies like Remitly, Paysend, or Wise will probably be your top choice. They offer bank-beating exchange rates, low fees, and a top-notch user experience using their online platforms or mobile apps. The first option is finding the best among dozens of innovative companies that are doing what Venmo does locally in the US, but for international transfers. Option 1 - International Transfer Specialists Fortunately, looking for Venmo alternatives is easier than ever, and you'll have plenty of quality international money transfer services to choose from.īroadly speaking, you have two routes to send money internationally instead of Venmo: using an international money transfer specialist or using PayPal or your bank. If you're looking for a Venmo alternative in the US, you can check out:īecause you can't use Venmo internationally, you'll probably be wondering what the best alternative to Venmo is to suit your needs and preferences. Wealth Simple Cash App: By opening an account with Wealth Simple Cash App, you can split bills and send cash to your friends.Interac: Canadian banks have partnered to offer an inter-operatable way to send or receive money from almost anyone in Canada via mobile. ![]() If you're looking for an alternative to Venmo to send money within Canada with your friends, we have two Venmo alternatives to recommend: This means that you won't be able to send money from your Venmo account to a friend in Canada, who also won't be able to Venmo you in return either.īe sure to check out Monito's comparison if you're looking to send money from the US to Canada or from Canada to the US to find a cheap alternative for your cross-border transfers. No, Venmo is not currently available in Canada. As a result, savvy solutions such as Venmo dodge this space entirely and don't offer international transfers to their users. However, these solutions are designed for local peer-to-peer payments in a single currency, generally to avoid the expensive complexities of currency exchange, cross-border payments, and increased anti-money laundering (ALM) and know your customer (KYC) regulations. Specialized companies such as PayPal, Square Cash, Venmo or tech giants such as Google, Apple, and Facebook, have revolutionized peer-to-peer payments, from the way we pay back a friend for a loan to how we split the bill at the end of a meal. Digital wallets have changed the way we pay for things on the internet and send money to our friends and family.
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