XE vs Wise (TransferWise)

Which of these two money specialists offers cheaper, faster, more flexible transfers?

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XE and Wise are two popular international money transfer services that allow you to send funds to dozens of countries around the world. To decide which service offers the best value for money, compare XE and Wise side by side on fees, exchange rates and transfer speeds.

Which has lower fees?

XE

With XE, you pay $4 on money transfers below $500. The fee is scrapped for transfers above that amount.

Wise

Fees vary depending on where your recipient lives and how much you're sending. Wise charges a fixed fee plus a percentage of each transfer. These fees vary depending on the currency and country you're sending to.

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Winner: XE

Although Wise typically charges lower fees than banks and other money transfer specialists, it can't trump XE's low-fee service.

Crunching the numbers: Sending $400 and $10,000 to India

To give you an idea of how they directly compare, we checked fees and exchange rates for two different transfer amounts on 26 April 2021.

XE $400Wise $400XE $10,000Wise $10,000
Fee$4$4.80$0$55.38
Exchange rate1 AUD = 57.67 INR1 AUD = 58.07 INR1 AUD = 57.67 INR1 AUD = 58.07 INR
Transfer speed1 - 2 days1 - 2 days1 - 2 days1 - 2 days
Amount receivedINR 23,070.82INR 22,959.93INR 576,770.50INR 577,752.59

As you can see, both services are comparable in the total amount received. With only a low fee charged for small transfers, XE leaves you with marginally more money in your pocket.

Which offers better exchange rates?

XE

XE's exchange rates are based on the live foreign exchange markets. They're often better than the rates from banks and competitive with other money transfer specialists.

Wise

Wise quotes the mid-market rate for money transfers. Banks and foreign exchange specialists use the mid-market rate when trading with one another, and it's often higher than prevailing foreign exchange rates.

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Winner: Wise

Wise always gives you the mid-market rate. However, Wise's fees may end up costing you more, even though XE is offering a weaker rate. Use the table above to compare a transfer with your specific sending destination and preferred amount.

Compare XE and Wise's exchange rates and fees

Enter an amount over $1,000, select the country you want to send to and click Calculate to see how much your transfer could cost with XE and Wise.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details

Compare up to 4 providers

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

Which is faster?

XE

XE estimates one and four days for the money to reach your recipient. Delivery time typically depends on your recipient's country.

Wise

Wise provides a calculator that can help you estimate how long it will take for your money to get to your recipient. Timing depends on where you live, your recipient's country and how you pay for the transfer. Credit card payments tend to move faster than bank transfers, for instance.

Wise gets a lot of reviews for the accuracy of its delivery estimates.

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Winner: Tie

With so many variables that can affect how long your friends or loved ones might have to wait, we simply can't determine which of these two money transfer specialists are better when it comes to speed.

General features

XE

XE Money Transfers specialises in international transfers of any size, as orders placed over the phone have no maximum limit. XE charges $4 for amounts below $500 and allows you to send to more than 130 countries around the world. It also offers an app that provides continuously updated exchange rates on hundreds of currency pairs. Overall, XE's low fees makes it worth checking before you send your next transfer, particularly if you're sending a large amount of money.

Wise

Wise always gives you the mid-market rate, something few companies do in the money transfer market. On top of this, Wise is transparent about its fees, so you'll know exactly what you're being charged and how to adjust your transfer accordingly to possibly save money. With Wise's straightforward website, you can sign up and have your first transfer sent within a few minutes, or call the company and send a transfer by phone.

Bottom line

XE Money Transfer provides low-fee money transfers at rates that beat the banks, similar to other online money transfer specialists. You can send as much as $500,000 online and more by calling a rep. Wise, however, can get you more money for your dollar with a stronger mid-market rate, especially on high-dollar transactions.

Still not convinced that XE or Wise is for you? Compare your options to send funds overseas.

Looking for more options?

Use our comparison calculator below to compare transaction fees, exchange rates and other key features across a range of leading international money transfer services.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 0 1 - 2 days AUD 0.00 0.741 USD
7,411
New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs 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 2,000 1 day AUD 0.00 0.744 USD
7,437
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 1 Within an hour AUD 0.00 0.743 USD
7,431
New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.743 USD
7,434
$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 0.743 USD
7,432
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Go to site Show details
AUD 1 Same day AUD 0.00 0.743 USD
7,426
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
AUD 1 Same day AUD 3.99 0.737 USD
7,371
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 0.743 USD
7,399
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.745 USD
7,412
Exclusive: New customers sending over 500 AUD from Australia use code FINDER50 to get 50 AUD off. Pay zero fees on your first transaction. Valid till 31 December 2021. T&Cs apply.
Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
AUD 1 1 day AUD 52.00 0.743 USD
7,388
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 0.738 USD
7,379
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 5 1 - 2 days EUR 3.00 0.743 USD
7,432
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

Compare up to 4 providers

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

More guides on Finder

International Money Transfer Offers

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

New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs 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 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 MasterRemit International Money Transfers
MasterRemit International Money Transfers

New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.

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.

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