Wise vs Moneycorp: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Wise	Moneycorp
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	No fee for online transfers £15 for transfers over the phone.
Average Exchange Rate Markup	No markup	1% – 2%
Minimum Transfer Amount	$1	50
Maximum Transfer Amount	$6,000,000 USD $1.8 million AUD $1.5 million CAD €6,000,000 EUR £5,000,000 GBP	£100,000 (or currency equivalent) for online transfers. No limit for transfers over the phone.

Reviews

	Wise	Moneycorp
Trustpilot Rating	4.3	4.3
Number of Trustpilot Reviews	193,700	6,300
iOS App Rating	4.6	2.1
Number of iOS App Reviews	29,500	120
Android App Rating	4.7	N/A
Number of Android App Reviews	503,000	N/A

Features

	Wise	Moneycorp
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	170	190
Number of Currencies	50	35
Payment Methods	Bank account Debit card Credit card Direct debit Apple Pay Google Pay iDeal Trustly SOFORT POLi PayPal	Bank account Debit card Check
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, Portuguese, French, Romanian, and Spanish
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 Stop-loss orders Recurring transfers Vanilla options Zero-cost options Rate alerts
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	Each individual transfer’s cancellation can be discussed upon contacting a Moneycorp representative. Generally, most transfers that haven’t been completed can be canceled and refunded.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Wise	Moneycorp
Year Founded	2011	1979
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)	Dublin (Ireland), Toronto (Canada), Gibraltar, Madrid, Costa Blanca, and Costa Del Sol (Spain), Bucharest (Romania), Dubai (UAE), Washington DC, Orlando, and Providence (USA), Hong Kong, and São Paulo (Brazil)
Annual Trading Volume	£76.4 billion	£38 billion
Number of Employees	4500	900
Number of Clients	16 million	N/A
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia National Bank of Belgium in the EU	FinCEN and the Federal Reserve Bank of New York in the USA FINTRAC in Canada FCA and the HMRC in the UK Dubai Financial Services Authority in UAE Central Bank of Brazil in Brazil Central Bank of Ireland in Ireland CED in Hong Kong GFSC in Gibraltar
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)	Travel Money Provider of the Year (Moneyfacts Consumer Awards, 2015,2016) Top Track 250 (The Sunday Times, 2017) Gold Trusted Service Award (Feefo, 2018, 2019) Best Money Transfer Service Provider (The World Banking Awards, 2019) Platinum Trusted Service Award for consistently delivering excellence (Feefo, 2020) Money Transfer Provider of the Year (MoneyAge Awards, 2019, shortlisted in 2020) Best Cross-Border Payments Service (Payment Awards, shortlisted in 2020) Best Cross-Border Payments Infrastructure (Payment Awards, shortlisted in 2020) Foreign Exchange Services finalist (The Private Equity Service Provider Awards, 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

Moneycorp Pros & Cons

Moneycorp Pros

• Exceptional customer support
• Respectable Trustpilot rating
• Zero fees for transfers conducted online
• Unlimited transfer amounts for phone transactions
• Operational in more than 190 nations worldwide
• Impressive range of supported currencies
• In-depth local expertise
• Decades of industry experience
• Speedy money transfers
• Broad array of features for businesses
• Multilingual services
• Robust regulatory compliance

Moneycorp Cons

• Limited funding methods
• Lack of support for less-common currencies
• No option for instant personalized quotes

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