Sending money across borders has always been a headache, plagued by hidden fees (and hidden intermediaries), agonizing delays, and mysterious processes. While the rise of digital finance platforms has certainly improved the situation, many underlying problems persist, with users still searching for complete solutions.
In 2025, the global remittance market is now thought to be worth $900bn+. This almost-trillion dollar industry is plagued by inefficiencies, with the invisible costs associated with international money transfers only adding to the poor user experience. On the other hand, groundbreaking blockchain-based approaches to international money transfers have emerged, promising faster, cheaper, fairer, and more transparent services.
This article will set the story straight on remittances, cutting through the noise to highlight the truly most cost-effective methods for sending money internationally in 2025. We’ll unpack the strengths and weaknesses of both traditional remittance services and emerging digital platforms, paying close attention to Decentralized On-chain Banking (Deobanking) services, such as WeFi.
How To Evaluate Your Options
Before diving into any specific platform, it’s crucial to understand the key criteria for evaluating international money transfer order (MTO) services, such as:
- Transfer fees: Fees are the most obvious cost, but consider whether you are being charged a fixed fee per transaction or a percentage of the total amount being sent. This will help determine the overall cost, especially if you’re expecting to send regular transactions of varied sizes.
- Exchange rate margins: Many remittance services hide their true costs in a poor exchange rate, far from the “mid-market” or “interbank” rate that you’ll find on Google. The difference between the true rate and the rate offered is called the “exchange rate margin”, and it’s where many platforms take their real profits.
- Speed of delivery: Time is of the essence. Some services make things instant, while others can take several days. Your urgency will often influence your decision.
- Accessibility: Is it easy to initiate the transfer? Will it be easy for the receiver to access the funds? These are important factors to consider.
- Transparency: How transparent are the fees, exchange rates, and transfer process? If the service isn’t willing to give you the full picture, you may want to reconsider putting your trust in them.
Often, people pick a remittance service for a perceived lack of a better option. In reality, they might not know what tools are available to them. Fortunately, in 2025, there really are better choices.
Here’s a breakdown of five well-known and popular methods for international money transfers, highlighting their strengths, weaknesses, and overall cost-effectiveness:
1) Western Union
- Strengths: Western Union boasts decades of experience, global reach, and an extensive network of physical locations (as well as online services). This makes it widely accessible, particularly in rural, underserved, and developing regions with limited banking services.
- Drawbacks: Despite widespread accessibility, Western Union charges high fees, especially for cash pickup and transfers to less common currency corridors. Its centralized control and reliance on outdated banking infrastructure contribute to its higher costs, low speeds, and other inefficiencies.
- Overall: While Western Union remains a viable option for those who require cash pickup or need to send money to remote areas, high fees and slow transfers make it less attractive.
2) Wise (formerly TransferWise)
- Strengths: Wise is popular for its transparent pricing, generous exchange rates, and a peer-to-peer system that helps avoid traditional bank transfer fees. The fast and intuitive interface makes Wise easy for individuals at both ends of a transaction.
- Drawbacks: Wise relies on some of the same banking systems for transfers and onboarding, meaning transfers could be subject to delays and restrictions. It is also unsuitable for unbanked populations.
- Overall: Wise offers improved transfers, particularly in terms of transparency and exchange rates. However, reliance on traditional banking infrastructure limits accessibility.
3) Revolut
- Strengths: Revolut is a particularly good option for users who travel frequently or send money regularly and offers low fees for users with premium accounts. It also allows users to gain exposure to some cryptocurrencies.
- Drawbacks: Revolut has a tiered pricing structure and requires traditional bank onboarding and ID verification, which can be a barrier to entry for some users. Despite its digital focus and access to cryptocurrencies, Revolut is not decentralized, meaning funds can still be frozen or delayed without notice.
- Overall: Revolut offers a convenient and cost-effective solution for users who need a wide range of financial services. However, its tiered pricing and centralized control may not appeal to all.
4) Coinbase
- Strengths: Coinbase enables crypto-powered international transfers using stablecoins like USDC, reducing transfer fees and wait times. Users can also convert stablecoins to fiat currency on either end of the transaction, for ease and convenience.
- Drawbacks: You must open and KYC verify a Coinbase account, yet Coinbase is not truly self-custodial, meaning that assets held on the platform can be frozen or seized.
- Overall: Coinbase offers a glimpse into the potential of crypto-powered international transfers. However, the need for a Coinbase account, KYC, and the lack of self-custody limit its appeal.
5) WeFi
- Strengths: WeFi is built on blockchain technology, utilizing decentralized infrastructure to eliminate intermediaries and reduce costs. Stablecoin-powered transfers enable near-zero fees and real-time settlements. WeFi offers custodial accounts and is preparing to launch non-custodial accounts, ensuring that users make the choice over how their funds are stored.
- Drawbacks: WeFi is currently in a pre-launch phase and users can only sign up for a waitlist at the moment. Upon launch, its availability may be limited in some regions. Until it’s live, it’s hard to know what other drawbacks may arise.
- Overall: WeFi represents a significant leap forward in international money transfers by lowering fees, driving user empowerment, offering full transparency, and pushing for financial inclusion on a global scale.
Why Deobanks Like WeFi Offer Long-Term Advantages
Deobanks leverage blockchain and smart contract technologies to transform the international money transfer landscape, ultimately cutting out traditional banks and money transfer operators (MTOs). These platforms enable 24/7 transfers that take just minutes, while the use of stablecoins provides a predictable transfer experience.
This model is borderless and transparent by design, fees are minimized through automation, and the user experience is put first. The decentralized nature of blockchain ensures that transactions are secure and immutable, building trust and confidence in the platform.
You Deserve a Better Way to Move Money
The high costs and limitations of many existing remittance options are unacceptable in 2025. You are on the verge of using a better way to send money internationally, one that is fast, affordable, transparent, and puts you in control. So it’s time to start exploring new tools, such as Deobanks, and enjoy lower-cost, transparent ways to send money, without giving up control.
