Wise vs Corpay: Fees & Reviews Compared

Both Wise and Corpay are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Wise	Corpay
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	£20 for transfers under £3,000 £0 for transfers above £3,000.
Average Exchange Rate Markup	No markup	0.4% – 1.9%
Minimum Transfer Amount	$1	£1,000 (or currency equivalent)
Maximum Transfer Amount	$6,000,000 USD $1.8 million AUD $1.5 million CAD €6,000,000 EUR £5,000,000 GBP	No limit

Reviews

	Wise	Corpay
Trustpilot Rating	4.3	2.8
Number of Trustpilot Reviews	193,700	3
iOS App Rating	4.6	5
Number of iOS App Reviews	29,500	1
Android App Rating	4.7	N/A
Number of Android App Reviews	503,000	N/A

Features

	Wise	Corpay
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	170	200
Number of Currencies	50	145
Payment Methods	Bank account Debit card Credit card Direct debit Apple Pay Google Pay iDeal Trustly SOFORT POLi PayPal	Bank account Debit card Credit card
Receiving Methods	Online wallet Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app	Web platform Phone
Supported Languages	English, Spanish, French, Portuguese, Italian, German, Chinese, Japanese, Indonesian, Hungarian, Ukrainian, Polish, Romanian, Turkish, and Russian	English
Transfer Speed	0-2 days (within minutes for over 50% of transfers).	1-2 days
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	No
Business Features	Recurring transfers Batch payments Invoicing Multi-user access Digital multi-currency wallet Rate alerts API integration	Spot contracts Forwards contracts Market orders Limit orders Treasury and risk management
Debit Card	Wise multi-currency debit card	Corpay Multi-Card
Cancellation Policy	Users can cancel a transfer as long as they’re able to see the “cancel transfer” option on their transfer	If you choose to cancel your money transfer, the funds would be returned to the market. Keep in mind that canceling the transaction may result in additional charges, which you would be liable for.**
Suitability	Small money transfers	Large money transfers

Company Comparison

	Wise	Corpay
Year Founded	2011	2001
Headquarters	London, UK	London, UK
Other Office Locations	London (UK), Austin, Dallas, Tampa, and New York (USA), Bangkok (Thailand), Dubai (UAE), Riyadh (Saudi Arabia), Hong Kong (Hong Kong), Shanghai (China), Singapore (Singapore), Tokyo (Japan), Seoul (South Korea), Jakarta (Indonesia), Kuala Lumpur (Malaysia), Manila (the Philippines), Mumbai (India), Brussels (Belgium), Budapest (Hungary), Cherkasy (Ukraine), Tallinn and Tartu (Estonia), Zürich (Switzerland), São Paulo (Brazil), Mexico City (Mexico), Cape Town (South Africa), Sydney and Melbourne (Australia)	The Netherlands, Spain, Cyprus, and Canada**
Annual Trading Volume	£76.4 billion	$74 Billion
Number of Employees	4500	200**
Number of Clients	16 million	25000
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia National Bank of Belgium in the EU	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia Central Bank of Ireland in EU
Awards	Best European Startup Under 3 Years Old (Europas, 2013) One of The World’s Top 10 Most Innovative Companies in Finance (Fast Company Magazine, 2014) Boldest Smaller Company (FT’s Boldness in Business Awards, 2014) Ernst and Young UK Entrepreneurs (2015) Top 20 out of 50 on Glassdoor’s Best Places to Work in the UK (2022) Made it in the FinTech50 list (in 2013, 2014, 2017, 2018, 2019, and 2021)	Profit Fast Track 100 (The Sunday Times, 2012) Best Small Companies to Work For (The Sunday Times, 2014) Best Company To Work For (Best Accreditation Standard, 2016) Best Forex Payment Technology Solution (UK Forex Awards, 2018) Best Currency Service Provider (Shares Awards, 2018) Gold Service Award (Feefo, 2019) Best New to Market Portugal (Department for International Trade Business Awards, 2019) Platinum Service Award (Feefo, 2021 and 2022) Best Payments Solutions Provider (Global Forex Awards B2B, 2022) Best Cross-Border Payments Service (Payments Awards, 2022) Overall Payment Solution of the Year (Electronic Money Award, 2022)

Wise Pros & Cons

Wise Pros

• No markups on exchange rates
• Comprehensive global service reach
• Impressive currency support
• Widespread local presence with branches in more than 28 countries
• Custom quotes are available without signup
• Diverse payment methods encompassing bank accounts, debit and credit cards, PayPal, and more
• Highly rated on Trustpilot
• In-depth knowledge repository
• Ideal for small transactions
• Fast money transfers, with half of all transactions completed in minutes and the rest within 0-2 days
• Outstanding web platform and mobile app experience

Wise Cons

• Some Challenges with customer service
• Cash pickup isn’t an option
• Lack of dedicated currency dealers
• Less-frequented countries and currencies might incur high transfer fees
• Inadequate for large monetary transfers
• No support for lesser-traded currencies

Corpay Pros & Cons

Corpay Pros

• Several payment methods are available
• Expert currency advisors on-hand
• Impressive online reviews
• No transfer fees for large transfers
• Attractive exchange rates
• No limit on the maximum transfer amount
• Broad international reach
• Support for a wide range of currencies
• Long-standing industry experience
• Prompt transfer service

Corpay Cons

• Not suitable for small money transfers
• Limited funding options
• Absence of a mobile app
• No option for instant custom quotes
• High minimum transfer limit

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