Wise vs CurrencyFair: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Wise	CurrencyFair
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	£2.50 (UK) €3 (EU) Currency equivalent for other currencies.
Average Exchange Rate Markup	No markup	0.0045
Minimum Transfer Amount	$1	£7 (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	10,000,000 (same in every available currency).

Reviews

	Wise	CurrencyFair
Trustpilot Rating	4.3	4.3
Number of Trustpilot Reviews	193,700	6,800
iOS App Rating	4.6	4.4
Number of iOS App Reviews	29,500	80
Android App Rating	4.7	2.6
Number of Android App Reviews	503,000	950

Features

	Wise	CurrencyFair
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	170	150
Number of Currencies	50	20
Payment Methods	Bank account Debit card Credit card Direct debit Apple Pay Google Pay iDeal Trustly SOFORT POLi PayPal	Bank account
Receiving Methods	Online wallet Bank account	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app	Web platform Mobile app Phone
Supported Languages	English, Spanish, French, Portuguese, Italian, German, Chinese, Japanese, Indonesian, Hungarian, Ukrainian, Polish, Romanian, Turkish, and Russian	English, French, and German
Transfer Speed	0-2 days (within minutes for over 50% of transfers).	0-5 days
Dedicated Dealer	No	Only for business clients
Instant Custom Quote	Yes	Yes
Business Features	Recurring transfers Batch payments Invoicing Multi-user access Digital multi-currency wallet Rate alerts API integration	Spot contracts Forwards contracts Market orders Digital multi-currency wallet Rate alerts 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	Only possible as long as the money transfer hasn’t been matched
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Wise	CurrencyFair
Year Founded	2011	2009
Headquarters	London, UK	Dublin, Ireland
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)	Newcastle (Australia), Nutfield (the United Kingdom), Singapore, and Kwun Tong (Hong Kong)
Annual Trading Volume	£76.4 billion	$300 million
Number of Employees	4500	156
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	FinCEN in the USA FCA in the UK ASIC in Australia Central Bank of Ireland in EU MAS in Singapore CED in Hong Kong
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)	Best of Show (Finovate Asia, Singapore, 2012) Most Insightful and Intriguing Internet Innovation (IIA Dot IE Net Visionary, 2013) TNW’s Irish Startups (2013) one of the Best Middleweight Start-ups (Europas, 2013) Excellence in Payments (FinTech Australia, 2017) Top 20 Fintech Companies in Ireland (Irish Tech News, 2017) Fintech Startups in Europe to watch in 2018 (2017) Mozo Experts Choice Awards (Mozo.com.au, 2018) Top 100 Startups to watch in 2018, Silicon Republic (2018) Top 10 Startup Winner for Best Employer (LinkedIn, 2018 and 2019) Spiders Award for Best in Fintech (2019) 5-Star Rating for Outstanding Value International Money Transfers (Canstar, 2019)

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

CurrencyFair Pros & Cons

CurrencyFair Pros

• Competitive exchange rates
• Excellent customer service
• Instant personalized quotes
• Impressive Trustpilot score
• Wide-reaching service coverage
• Quick international transfers
• Alerts for exchange rate changes
• Fixed fee for money transfers
• Awards for superb performance in the financial sector
• Can handle both large and small money transfers

CurrencyFair Cons

• Lack of personal account managers for individual users
• Limited options for transfer funding
• No cash pickup service
• Narrow range of supported currencies
• Poor user rating for the Android mobile app

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