WorldFirst vs Wise (TransferWise) | Fees and safety compared | Finder

WorldFirst vs Wise (TransferWise)

Both beat the banks, but how do WorldFirst and Wise compare against each other when it comes to exchange rates and fees?

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WorldFirst and Wise are two strong contenders in an increasingly crowded market for money transfers. Let’s compare their fees, exchange rates and transfer speed to see which one comes out on top.

The fees and rates used in this comparison are accurate as of 31 October 2018.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.769 USD
7,694
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.773 USD
7,690
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Which has lower fees?

WorldFirst

WorldFirst doesn't charge fees on any international transfers out of Australia, whether it be a business transfer or a personal one. However, keep in mind that your recipient's bank may charge a receiving fee.

Wise

Wise charges a percentage fee as well as a small flat fee. The flat fee is around $1–$2 for a lot of the main currencies but can reach as much as $15 if you want to send money to South Africa, for example. The percentage fee ranges from 0.45–1.5% of your transaction amount.

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Winner: WorldFirst

WorldFirst offers no fees, making it a clear winner in this category. However, keep in mind that this doesn't necessarily mean your transfer will be cheaper with WorldFirst. Each provider offers different exchange rates, which we'll go into below.

Let's crunch the numbers: Sending $1,000 and $10,000 to the UK

To show you how the two providers stack up, let's take a look at how WorldFirst and Wise compare when sending two different amounts to the UK. We're also going to add in a column with the preferential exchange rate WorldFirst is offering Finder customers on their first transfer. Keep in mind, rates vary for other countries.

In our imaginary scenario, we'll be using a bank transfer.

Sending $1,000 to the UK
WorldFirstWorldFirst deal for Finder usersWise
Transfer fee$0$0.00$5.97
Exchange rate1 AUD = 0.549 GBP1 AUD = 0.554 GBP1 AUD = 0.552 GBP
Transfer speedSame daySame day1 day
Total British pounds receivedGBP£549GBP£554GBP£548.70
Sending $10,000 to the UK
WorldFirstWorldFirst deal for Finder usersWise
Transfer fee$0$0$50.75
Exchange rate1 AUD = 0.549 GBP1 AUD = 0.554 GBP1 AUD = 0.552 GBP
Transfer speedSame daySame day1 day
Total British pounds receivedGBP£5,490GBP£5,540GBP£5,492

On a $1,000 transfer, WorldFirst's preferential rates for Finder customers mean your recipient will get GBP£5.30 more than if you'd used Wise.

The $10,000 transfer works out similarly. With Finder's first transfer deal, you'll end up sending GBP£50 more than if you went directly through WordFirst. However, if you've used WorldFirst before and are ineligible for the deal, Wise works out fractionally better at GBP£2 more.

Which offers better exchange rates?

WorldFirst

WorldFirst makes its money off the margin it charges on top of the standard mid-market rate, as opposed to a transfer fee. This margin can range from 0.6% to above 1%, depending on the currency you're sending to. However, for your first transfer with WorldFirst, Finder users get access to a smaller margin on the mid-market rate, equivalent to 0.4%.

Wise

Wise converts money at the mid-market rate, with no added margin on top. Just watch for the percentage fees charged for transfers.

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Winner: Wise

Wise offering the mid-market rate is hard to beat. It means you'll get a better exchange rate than you would with WorldFirst, no matter where you transfer to.

Which is faster?

WorldFirst

If you’re sending to British pounds, US dollars or euros, WorldFirst will make a same-day payment once it receives your money, though it may take up to one business day for your account to be credited.

For all other currencies, it takes one to four days for the money to reach your recipient. To transfer US dollars to other countries, it may take up to four days.

Wise

Transfer time with Wise depends a lot on how you pay. Credit or debit card is the fastest way to send money and can be instant to a lot of currencies. Bank transfers will take longer, but shouldn't be more than four days.

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Winner: Tie

Both WorldFirst and Wise offer instant transfers for a lot of the popular currencies, but may take several days. However, the most accurate time frame you'll get is when you're booking your transfer. There are lots of things that will affect the transfer time, from the country you're sending to, to how you want to pay.

General features

Payment methodsMinimum and maximum transfersDelivery methodsTransfer speedsCurrenciesSafety
WorldFirstOnline bank transfer, phone, appMinimum: $2,000

Maximum: No limit

To bank account1 day60+ currenciesRegulated by: ASIC, FCA, FINTRAC, FinCEN, C&ED, MAS
WiseOnline bank transfer, app, credit or debit cardMinimum: $1

Maximum: $1,800,000

To bank account1 - 2 days20+ currenciesRegulated by: ASIC, FCA, FINTRAC, FinCEN, C&ED, KLFB, DIA, MAS

WorldFirst

WorldFirst has money transfer options for businesses, online sellers and for your own personal use. For a personal transfer, you tell WorldFirst how much you want to send, then it quotes an exchange rate. After you send your money, WorldFirst will convert the funds and send them to your recipient’s bank account.

Wise

Sending money through Wise is a similar process: Input how much you want to transfer, then send your money to Wise. Your money will be converted and sent to your recipient's bank account.

Bottom line

There's no clear winner. While WorldFirst wins on its $0 transfer fees, Wise's no-margin exchange rate means you shouldn't overlook it. Ultimately, the best service for you depends on the currency you're sending and the payment method you choose.

Looking for more options?

Use our comparison calculator below to weigh up the fees, exchange rates and other details of money transfer providers out there.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 1.99 0.767 USD
7,669
Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.769 USD
7,693
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.77 USD
7,702
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.769 USD
7,693
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.769 USD
7,694
Better exchange rates for Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 1 1 day AUD 52.00 0.769 USD
7,646
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 10 Within an hour AUD 2.99 0.764 USD
7,638
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
AUD 1 Same day AUD 0.00 0.769 USD
7,686
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.772 USD
7,678
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.765 USD
7,646
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.763 USD
7,629
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.773 USD
7,690
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Frequently asked questions

More guides on Finder

International Money Transfer Offers

Important Information*
Logo for Azimo International Money Transfers
Azimo International Money Transfers

Special offer: $40 off when you transfer more than $250+ with code AUFIND40, conditions apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.

Logo for Send International Money Transfers
Send International Money Transfers

Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

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