XE vs Wise (TransferWise)

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

Updated Nov 13, 2020. What changed?

Fact checked

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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.

Quick verdict

Lower fees:
XE

Exchange rates:
Wise

Fast transfers:
Tie

Which has lower fees?

XE

With XE, you pay no fee on your money transfer, no matter how much you're sending.

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.

Trophy icon
Winner: XE

Although Wise typically charges lower fees than banks and other money transfer specialists, it can't trump XE's no-fee service.

Crunching the numbers: Sending $1,000 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 13 November 2020.

	XE $1,000	Wise $1,000	XE $10,000	Wise $10,000
Fee	$0	$6	$0	$55
Exchange rate	1 AUD = 53.98 INR	1 AUD = 53.97 INR	1 AUD = 53.98 INR	1 AUD = 53.98 INR
Transfer speed	1 - 2 days	1 - 2 days	1 - 2 days	1 - 2 days
Amount received	INR 53,981	INR 53,644	INR 539,826	INR 536,878

As you can see, both services are comparable in the total amount received. Thanks to its zero-fee model, 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.

Trophy icon
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.

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	$1	1 - 2 days	USD 40.00	0.83	EUR 4,116	Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review

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.

Trophy icon
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 specializes in international transfers of any size, as orders placed over the phone have no maximum limit. XE charges no fees 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 strong rates 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.

Read review: XE
Read review: Wise

Bottom line

XE Money Transfer provides no-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.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
GBP 0	1 - 2 days	AUD 0.00	0.768	USD 7,679	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	Compare	Show details	Details Minimum transfer amount GBP 0.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments Customer service Chat, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BTN, BWP, BYR, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GIP, GMD, GNF, GTQ, GYD, HKD, HNL, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KZT, LAK, LBP, LKR, MAD, MDL, MGA, MKD, MNT, MOP, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TJS, TMT, TND, TOP, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VND, VUV, WST, XAF, XCD, XOF, XPF, ZAR, ZMW Go to site Read the full review
AUD 250	1 - 2 days	AUD 0.00	0.77	USD 7,700	$0 transfer fees for Finder customers. OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.771	USD 7,710	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	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.77	USD 7,701	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	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Forward contracts Customer service Phone, Email Available currencies AED, AUD, BGN, BHD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, JPY, KES, KWD, MXN, MYR, NOK, NZD, OMR, PHP, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 2,000	1 day	AUD 0.00	0.77	USD 7,702	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	Compare	Show details	Details Minimum transfer amount AUD 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AUD, BBD, BGN, BHD, BWP, CAD, CHF, CLP, CNY, COP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, LKR, MAD, MUR, MXN, MYR, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, TZS, UGX, USD, VND, XCD, ZAR Go to site Read the full review
AUD 1	1 day	N/A	N/A	N/A	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	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, EUR, GBP Go to site Read the full review
AUD 1	1 day	AUD 52.00	0.769	USD 7,655	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	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, CAD, CNY, EUR, GBP, HKD, IDR, INR, JPY, KRW, LKR, MYR, NPR, NZD, PHP, SGD, THB, USD, VND, ZAR Go to site Read the full review
AUD 10	Within an hour	AUD 2.99	0.765	USD 7,646	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	Compare	Show details	Details Minimum transfer amount AUD 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, AUD, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
AUD 1	Same day	AUD 0.00	0.769	USD 7,695	XE has fast transfers with low fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments, Market orders Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BSD, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
AUD 200	1 - 2 days	AUD 50.00	0.772	USD 7,684	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	Compare	Show details	Details Minimum transfer amount AUD 200.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
AUD 5	1 - 2 days	EUR 3.00	0.766	USD 7,654	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	Compare	Show details	Details Minimum transfer amount AUD 5.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, IDR, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR Go to site Read the full review
AUD 1	Same day	AUD 3.99	0.764	USD 7,637	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	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review
AUD 1	1 - 2 days	AUD 45.00	0.773	USD 7,698	Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review

Compare up to 4 providers

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

Thank you for your feedback!

Julius Hernandez

Jules is a freelance writer for finder.com. A software development manager for a commercial bank in a past life, he now works full-time from home where he continues to write on finance and dabble in software development. He is a co-author of an introductory book on Python programming.

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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.

More info

OFX (Ozforex) International Money Transfers

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

More info

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.

More info

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.

More info

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XE vs Wise (TransferWise)

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

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Banks

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Quick verdict

Which has lower fees?

XE

Wise

Crunching the numbers: Sending $1,000 and $10,000 to India

Which offers better exchange rates?

XE

Wise

What's the mid-market rate?

Compare XE and Wise's exchange rates and fees

Compare up to 4 providers

Which is faster?

XE

Wise

General features

XE

Wise

Bottom line

Looking for more options?

Compare up to 4 providers

Julius Hernandez

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Azimo International Money Transfers

OFX (Ozforex) International Money Transfers

TorFX International Money Transfers

Send International Money Transfers

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