Wise vs Currency Solutions: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Wise	Currency Solutions
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.
Average Exchange Rate Markup	No markup	0.5% – 1%
Minimum Transfer Amount	$1	£100
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 for transfers over the phone Online transfers £20,000 for personal accounts £50,000 for business accounts

Reviews

	Wise	Currency Solutions
Trustpilot Rating	4.3	4.7
Number of Trustpilot Reviews	193,700	2,500
iOS App Rating	4.6	N/A
Number of iOS App Reviews	29,500	N/A
Android App Rating	4.7	N/A
Number of Android App Reviews	503,000	N/A

Features

	Wise	Currency Solutions
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	170	160
Number of Currencies	50	40
Payment Methods	Bank account Debit card Credit card Direct debit Apple Pay Google Pay iDeal Trustly SOFORT POLi PayPal	Bank account Debit 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).	3 hours-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 Options contracts Risk management Recurring transfers API integration
Debit Card	Wise multi-currency debit card	None
Cancellation Policy	Users can cancel a transfer as long as they’re able to see the “cancel transfer” option on their transfer	The company allows for transfers to be canceled and refunded if the transaction hasn’t been completed. Refunds may be subject to exchange rate changes and additional charges depending on the circumstances.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Wise	Currency Solutions
Year Founded	2011	2003
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)	Amsterdam (the Netherlands), Dublin (Ireland), and Paphos (Cyprus)
Annual Trading Volume	£76.4 billion	£1 billion
Number of Employees	4500	70
Number of Clients	16 million	150000
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia National Bank of Belgium in the EU	FCA in the UK
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)	The Best Currency Transfer Provider (Trade Finance Global Currency Awards, 2016) Top-rated International Money Transfer Provider (Trustpilot, 2017 – 2020)

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

Currency Solutions Pros & Cons

Currency Solutions Pros

• Outstanding customer support
• Impressive Trustpilot rating
• Fee-free transfers for larger amounts
• Competitive exchange rates
• Service availability in over 160 countries
• Robust currency offerings with support for 40+ global currencies
• Longstanding industry experience
• Quick fund transfers
• Advanced business FX features, including market orders and options contracts for effective currency risk management
• Personalized service through dedicated account managers

Currency Solutions Cons

• Charges apply for smaller transfer amounts
• Lack of a mobile application
• Limited availability of exotic currencies
• Lack of an instant quote feature
• Customer support is not available around the clock

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