Updated on July 17, 2022
Since Venmo is a great way to send and receive money, many users question if the service may be used to transfer payments to foreign countries. We’ll find out soon enough!
What Are We Going to Discuss?
For reasons including currency exchange and international payments, Venmo is not available outside of the United States.
International transfers can alternatively be made through services such as WorldRemit, TransferGo, Revolut, and others.
The fees associated with money transfers are dependent on a number of factors, including the country to which the money is being sent and the amount being sent.
…as well as Many More!
Is Venmo Accepted Worldwide?
We highly recommend using Venmo to transfer money. Using Venmo does have several drawbacks, one of which is that it does not support international transfers. Wise Alternatives for Venmo, on the other hand, can be used.
You can use it to pay bills or send money to friends and family anywhere in the United States.
As a result, we can classify it as a complete solution.
To use your Venmo credit card, you and your beneficiary must both be physically located in the United States of America.
You can use it to pay your staff, purchase online, pay your utility bills, and a whole lot more.
The best option is to obtain a Venmo MasterCard, which is specifically designed to meet your needs.
To see if Zelle is available outside of the United States, click here: Does Zelle Work Worldwide?
Why Can’t I Use Venmo To Make International Transfers?
Despite the fact that digital wallets have made international payments look simple, these services do have certain drawbacks.
Venmo can only be used for local payments. Avoiding currency exchange, cross-border payments, large anti-money laundering, and knowing your customer rules are some of the benefits of this.
As a result, Venmo does not enable international payments, just those within the United States.
Best Venmo Replacements Outside of the U.S.
If Venmo wasn’t your cup of tea, don’t sweat it.
If you’re looking to transfer money worldwide, we’ve compiled a list of the best Venmo International alternatives for you to choose from.
Wise Wise is one of the most well regarded platforms for moving money around the world.
Wise, on the other hand, is recognized as one of the most affordable financial institutions in the world for moving funds across borders.
Transfers can be made online or through the user-friendly app, whichever is more convenient for you.
You can avoid paying any costs associated with international transfers by using a Wise multi-currency card.
Wiser offers the best exchange rate with the least amount of additional costs. A mid-market exchange rate is used for precise currency conversion.
At the time of confirmation, Wise locks in the exchange rate to avoid market swings.
Transfers can be made to a total of 62 countries.
Its fees are reasonable and open (usually between 0.4-1 percent of the transfer amount).
Wise is a highly regarded service that has consistently garnered excellent feedback from millions of clients.
With the help of Remitly, people who frequently conduct overseas transactions can now do so at a lower cost.
Pay-in and pay-out transfers are also available; this means you can send money through bank transfers, credit cards, or cash services.
More than 80 nations, including the United States, Australia, Canada, and the United Kingdom, are supported by Remitly.
There are no hidden fees. How much you pay and receive can be calculated.
Remitly’s transfer fees are determined by a variety of factors, including the recipient country, the amount being sent, the target currency, and whether the transfer is instant or regular.
An average transfer cost is between 0.5 percent and 2 percent.
If you send more than USD 1000 by economy transfer, the transfer cost is waived.
Using WorldRemit, you can transfer money to more than 150 countries.
You can send money to countries in the Middle East, Africa, and a few others via mobile wallet.
A cash pickup option is available as well as an app-based service.
It adds a commission to the mid-market rate, so the fee is a little higher than usual.
Additionally, you’ll be charged a fee depending on the amount and destination country of your money transfer.
Depending on a variety of circumstances, the average price ranges from $3.99 to $24.99 USD.
Using an airtime top-up, you can send money to a recipient’s prepaid mobile phone.
Bank and credit card transfers are both supported by TransferGo in many countries.
The concern of not being able to transfer money overseas is brushed aside by TransferGo.
Transfers can be made via the company’s website or mobile app, and the process is rapid, safe, and secure.
Both the FCA and HMRC have given their blessing to TransferGo’s security measures.
When using a debit or credit card to transfer money, you will be charged a 0.5 percent fee.
The exchange rate margin is expected to range from 0% to 2.2 %.
The website and mobile app are both very user-friendly and convenient to use.
TransferGo is a popular service for sending money between companies.
There are over 40 countries where you can access your bank accounts using this service. You may invest in a cryptocurrency or stock market as well as travel insurance.
EMI, or Electronic Money Institution, has also approved Revolut.
It is currently available in several countries, including Australia, the United States, Canada, Japan, Singapore, Switzerland, Germany, France, the United Kingdom, the Netherlands, and Norway.
It has an easy-to-use website and mobile app.
Free international and local payments are available with Revolut.
This service has no hidden charges.
What’s at Stake
Since Venmo does not operate worldwide, we hope you find these options useful. There isn’t a single choice that isn’t a direct rival to the others.
With their high-profile and convenient money transfer services, they have established themselves as market leaders.
Consequently, it is advisable to conduct a comprehensive investigation of each of the innovative companies before making a final decision. To find the best option, consider the country to which you’re transferring money as well as the quantity you’d like to send.
Transferring Venmo to Countries Outside of the United States
Is there a global reach for Zelle?
Zelle, on the other hand, isn’t available for use outside of the United States. TransferGo and WorldRemit are two examples of platforms you may use to send money internationally.
Is it possible to use PayPal to transfer money outside of the US?
Yes. Transfers to nations where PayPal is accepted are possible using this service. Direct bank transfers can also be made using this service.
What are the best sites for international money transfers?
There are a lot of ways to send money, but it’s important to think about where you’re sending it as well as the total amount. However, TransferWise and Revolut are two standouts in this area.
Is it possible to transfer money to foreign nations at a low cost?
For international money transfers, money transfer services charge reasonable costs. If money is scarce, look at Xoom or Remitly.