Wise vs WorldRemit: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Wise	WorldRemit
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.
Average Exchange Rate Markup	No markup	1% – 1.6%
Minimum Transfer Amount	$1	$1
Maximum Transfer Amount	$6,000,000 USD $1.8 million AUD $1.5 million CAD €6,000,000 EUR £5,000,000 GBP	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).

Reviews

	Wise	WorldRemit
Trustpilot Rating	4.3	4.1
Number of Trustpilot Reviews	193,700	78,800
iOS App Rating	4.6	4.8
Number of iOS App Reviews	29,500	172,000
Android App Rating	4.7	4.6
Number of Android App Reviews	503,000	179,000

Features

	Wise	WorldRemit
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	No	No
Available Countries	170	145
Number of Currencies	50	70
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 Apple Pay Interac iDeal Trustly Klarna SOFORT POLi
Receiving Methods	Online wallet Bank account	Online wallet Bank account Cash pickup Home delivery
Cash Pickup Option	No	Yes
Payments Flexibility	Web platform Mobile app	Web platform Mobile app
Supported Languages	English, Spanish, French, Portuguese, Italian, German, Chinese, Japanese, Indonesian, Hungarian, Ukrainian, Polish, Romanian, Turkish, and Russian	English, French, German, Danish, Dutch, and Spanish
Transfer Speed	0-2 days (within minutes for over 50% of transfers).	0-2 days (within minutes in 95% of cases).
Dedicated Dealer	No	No
Instant Custom Quote	Yes	Yes
Business Features	Recurring transfers Batch payments Invoicing Multi-user access Digital multi-currency wallet Rate alerts API integration	N/A
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 when the transfer hasn’t been paid out. Bank and mobile wallet transfers may be refunded even after the transfer is completed if the recipient agrees to the refund.
Suitability	Small money transfers	Small money transfers

Company Comparison

	Wise	WorldRemit
Year Founded	2011	2010
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)	Poland (Krakow), USA (Denver), Philippines (Cebu), Australia (Sydney), Belgium (Brussels), Japan (Tokyo), Kenya (Nairobi), Malaysia (Kuala Lumpur), Rwanda (Kigali), Singapore, South Africa (Johannesburg), Somaliland (Hargeisa), Tanzania (Dar Es Salaam), Uganda (Kampala), and Canada (Toronto)
Annual Trading Volume	£76.4 billion	$10 billion
Number of Employees	4500	1800
Number of Clients	16 million	5.7 million
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 National Bank of Belgium in EU FSPR in New Zealand FSA in Japan
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 Practice in Remittances for Development by IFAD (United Nations Agency, 2015) Technology Fast 50 (Deloitte, 2015, 2016, and 2017) Tech Track 100 (Sunday Times, 2016, 2017, 2018, and 2019) Excellence in Transformational Business (FT/IFC Transformational Business Awards, 2017) EY Entrepreneur Of The Year (2016) Bronze Award (European Contact Centre & Customer Service Awards, 2019) The Powerlist (BBC, 2020) Best for International Transfers (Best Money Transfer Apps – Investopedia, 2021 and 2023)

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

WorldRemit Pros & Cons

WorldRemit Pros

• Many payment methods
• Competitive foreign exchange rates
• Small transaction fees
• Excellent policy for transfer cancellations
• Instant, personalized cost estimates
• Cash pickup services available
• Mobile digital wallet features
• Comprehensive global service availability
• Strong coverage of over 70 unique currencies
• Wide local presence with offices in 15 nations
• Quick funds transfers
• Comprehensive and informative knowledge base

WorldRemit Cons

• Not ideal for transferring large sums of money
• No personal account managers available
• Lacks business solutions like forward contracts and limit orders
• Numerous criticisms pertaining to customer service

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