What’s the best alternative?
Remitley, xoom, revolut, ofx, Atlantic (?). Lot of others.
Just a straight wire transfer, but depending on your bank you might get wrecked in exchange rate.
Interactive Brokers has extremely good exchange rates and fees. But, it requires you to have accounts on both ends, so it doesn't work the same way. For the top comment in this tree though (individual moving between countries), I'd lean towards IBKR since it sounds like they control accounts on both ends.
I used them a lot for automated transfers, paying bills and keeping cash and they weren't happy about it.
Though, it's also a freaking excellent broker, so you could just... use it for your normal brokerage purposes too. They've also got a CMA with rates as good as basically anything except maybe Fidelity (which sorta cheats by sweeping from a mmf), so you can theoretically just use it for your normal banking as well.
I don't actually maintain a IBKR account myself, but if I were to consolidate somewhere, it'd probably be either there of Fidelity. If I had to do forex more regularly, IBKR would win for me, hands down.
As long as you run an active trading account with them it should be fine for occasional cash movements.
Now that I've been investing with them for a while, they don't seem to mind.
We sent 50 Euro to Bangladesh because wise.com doesn't support that country yet. Our bank charged 49 Euro in fees.