Wise vs Send Payments: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Wise	Send Payments
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	No fee
Average Exchange Rate Markup	No markup	0.01
Minimum Transfer Amount	$1	AU$250
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 (AU$25,000 for recurring, daily transfers).

Reviews

	Wise	Send Payments
Trustpilot Rating	4.3	4.9
Number of Trustpilot Reviews	193,700	250
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	Send Payments
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	170	180
Number of Currencies	50	37
Payment Methods	Bank account Debit card Credit card Direct debit Apple Pay Google Pay iDeal Trustly SOFORT POLi PayPal	Bank account PayID POLi
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).	0-2 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 Delayed contracts Limit orders Stop-loss orders Recurring transfers
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	Most money transfers can be canceled upon contacting Send Payments. Note that transfers that have been completed are seldom refunded.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Wise	Send Payments
Year Founded	2011	2018
Headquarters	London, UK	Gold Coast, Queensland, Australia
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)	Sydney and Melbourne (Australia)
Annual Trading Volume	£76.4 billion	AU$200 million
Number of Employees	4500	60
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	ASIC and AUSTRAC in Australia
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 International Money Transfer Provider (Mozo Experts Choice Awards, 2020) Finnies Finalist (FinTech Australia Awards, 2020) Most Promising Money Transfer Service for 2022 (MoneyTransferComparison, 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

Send Payments Pros & Cons

Send Payments Pros

• A large selection of payment methods
• Top-tier customer service
• Stellar Trustpilot score
• No transfer fees
• Favorable exchange rates
• Fast money transfers
• Personalized care with dedicated account managers
• Customizable business tools including stop orders, limit orders, and delayed contracts
• 180 countries available
• Slick web design

Send Payments Cons

• No option for cash pickup
• A minimum limit of AU$250 for transfers
• A small selection of rare or exotic currencies
• No option for instant, tailored quotes
• No mobile app

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