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Wise (TransferWise) vs CurrencyFair

We compare the two head-to-head to see which has the edge.

Rosie Russell

Updated Mar 14, 2021

Fact checked

Compared to most banks, Wise and CurrencyFair both offer favourable exchange rates and low fees. But which one is better for you?

The fees and rates used in this comparison are accurate as of 29 January 2019.

Quick verdict

Lower fees:
CurrencyFair

Exchange rates:
Wise

Fast transfers:
Wise

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	AUD 200	1 - 2 days	AUD 50.00	0.703	USD 6,994	Exclusive: Use code FINDER60 to get AUD 30 off your first two transfers. Valid for transfers over AUD 250 and till 31 January 2022. T&Cs apply. Instarem offers simple transfers with a flat 0.5% transfer fee for most transfers.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 200.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review
	AUD 1	1 - 2 days	AUD 45.00	0.701	USD 6,978	Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 1.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Which has lower fees?

Wise

Wise charges a percentage of your transfer, which changes based on which currencies you’re exchanging, as well as a small flat fee. This flat fee is often only a few dollars, but can get higher in some circumstances. Sending to China, for example, will add on a $8 flat fee + a 0.75% fee of the amount that’s converted.

The percentage fee typically ranges from 0.45–1.5% of your money transfer.

CurrencyFair

CurrencyFair charges fees in a similar way to Wise – a percentage of the transaction, as well as a small flat fee. The flat fee is always €3. The percentage, on the other hand, ranges from 0.25–0.6% of the transfer.

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Winner: CurrencyFair

CurrencyFair wins out on fees, charging a smaller flat fee and percentage. However, keep in mind that this won’t necessarily make a transfer with CurrencyFair cheaper. Exchange rates can make a big difference. We’ll go into why below.

Let’s crunch the numbers: Sending $1,000 and $10,000 to Poland

To make this a bit easier to understand, let’s take a look at how Wise and CurrencyFair compare when sending money to Poland. Keep in mind that transferring to other currencies will have different fees and transfer times.

In our imaginary scenario, we’ll be using a bank transfer.

Sending $1,000 to Poland

	Wise	CurrencyFair
Transfer fee	$5.69	PLN 10 (around $3.50)
Exchange rate	1 CAD = 2.833 PLN	1 CAD = 2.817 PLN
Transfer speed	2 business days	4 business days
Total Polish zloty received	PLN 2,835	PLN 2,807
Receiver gets	PLN 28 more	PLN 28 less

Sending $10,000 to Poland

	Wise	CurrencyFair
Transfer fee	$50.46	PLN10 (around $3.50)
Exchange rate	1 CAD = 2.833 PLN	1 CAD = 2.817 PLN
Transfer speed	2 business days	4 business days
Total Polish zloty received	PLN28,315	PLN28,160
Receiver gets	PLN 155 more	PLN 155 less

For both transfers, Wise ends up on top. With the $1,000 transfer, the receiver gets almost PLN28 more. This works out even bigger on the $10,000 transfer, with Wise netting you almost PLN 155 more than CurrencyFair.

Which offers better exchange rates?

Wise

Wise exchanges money at the mid-market rate. That’s a great deal compared to most other money transfer services, who add a margin on top, though you should still keep an eye on the site’s percentage fee.

CurrencyFair

CurrencyFair adds a margin onto the mid-market rate, meaning the exchange rates offered aren’t as good as those Wise does. The margin is different for every currency, but generally ranges between 0.5% and 1% of the transfer.

Trophy icon
Winner: Wise

Any provider offering the mid-market rate is going to offer better exchange rates. In this case, Wise wins.

Which is faster?

Wise

It can take up to four days to send money using Wise, depending on which method you use. Paying by card will get your money there immediately, while a bank transfer will be longer.

CurrencyFair

A transfer with CurrencyFair should take between one and six days, depending on which currency you’re sending to. If you want to send to US dollars, for example, it’ll take you around two days. Hong Kong dollars, on the other hand, can take up to six days.

Trophy icon
Winner: Wise

Both CurrencyFair and Wise offer similar times for bank transfers, but Wise’s instant credit or debit card transfers puts it in the lead.

General features

	Payment methods	Minimum and maximum transfers	Transfer speeds	Currencies
Wise	Bank transfer, credit card, debit card	Minimum: $1 Maximum: $9,500	1 - 2 days	45+ currencies
CurrencyFair	Bank transfer	Minimum: $5 Maximum: $10,000,000	1 - 2 days	15+ currencies

Wise

With Wise, enter how much money you want to transfer, then send your funds to Wise. Wise will convert the currency and send it to your recipient’s bank account.

CurrencyFair

CurrencyFair works similarly. After creating your account, you can set up your transfer and send the money to CurrencyFair’s local bank account. Once CurrencyFair exchanges your money, it is sent to your recipient. You can also request the exchange rate you want and CurrencyFair will exchange your money when that’s reached.

Read review: Wise
Read review: CurrencyFair

Bottom line

Although both are quite similar, Wise pulls ahead with its mid-market exchange rate and faster transfers. Still, you’ll want to compare your options to find a service that’s best for your situation.

Looking for more options?

The calculator and table below lets you compare the fees and exchange rates of some of the other popular money transfer providers available.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
$100	1 - 2 days	CAD 0.00	0.781	USD 1,562	Send money without fees and at competitive exchange rates to 130+ countries.	Go to site	Compare	Show details	Details Minimum transfer amount 100.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ALL, AMD, ARS, AUD, AZN, BAM, BBD, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, BZD, CAD, CHF, CLP, CNY, COP, CRC, CZK, DJF, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MXN, MYR, MZN, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, THB, TJS, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, VND, VUV, WST, XAF, XCD, XOF, XPF, YER, ZAR, ZMW, BYN Go to site Read the full review
CAD 50	1 - 2 days	CAD 15.00	0.785	USD 1,558	Exclusive: Use code FINDER10 to receive US$10 off your first transaction. InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 50.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, BGN, CAD, CNY, CZK, DKK, EUR, GBP, GHS, HKD, HRK, HUF, IDR, INR, KRW, LKR, MXN, MYR, NGN, NOK, NPR, PHP, PLN, RON, SEK, SGD, THB, TZS, UGX, USD, VND Go to site Read the full review
CAD 1	Same day	CAD 0.00	0.781	USD 1,562	XE has fast transfers with low fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, COP, CRC, CVE, CZK, DJF, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TMT, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
USD 150	1 day	-	-		Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee. OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount USD 150.00 Transfer methods Online, Phone, Agent Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, AZN, BGN, BHD, BND, BRL, CAD, CHF, CLP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XAF, XOF, XPF, ZAR Go to site Read the full review
CAD 2,000	1 day	-	-		TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply. TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 2,000.00 Transfer methods Online, Phone, Agent Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
CAD 10	Within an hour	CAD 1.99	0.776	USD 1,551	Special offers like free transfers and better exchange rates available for new customers. Remitly has quick, affordable transfers around the world, with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, BDT, BGN, BOB, BRL, CAD, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
CAD 0	Within an hour	CAD 3.99	0.782	USD 1,561	Use code Take10CAD to get $10 off when you spend $20. Valid till 31 January 2022. T&Cs apply. Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XOF, ZAR, ZMW, BYN Go to site Read the full review
USD 10,000	1 - 2 days	N/A	N/A	N/A	Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.	Go to site	Compare	Show details	Details Minimum transfer amount USD 10,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AFN, ALL, AMD, ARS, AUD, AZN, BAM, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, BYR, CAD, CHF, CNY, COP, CRC, CZK, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MXN, MYR, MZN, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PGK, PHP, PKR, PLN, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, THB, TJS, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, VND, VUV, WST, XOF, XPF, YER, ZAR, ZMW, ZWD, BYN Go to site Read the full review
CAD 1	1 - 2 days	CAD 18.00	0.785	USD 1,556	Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 1.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, ERN, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
GBP 5,000	1 - 2 days	N/A	N/A	N/A	CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 5,000.00 Transfer methods Online, Phone, Bank Account to Bank Account, International Money Order Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, BGN, BHD, BRL, CAD, CHF, CNY, CZK, DKK, ERN, EUR, GBP, GHS, HKD, HNL, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KWD, MAD, MUR, MXN, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, ZAR Go to site Read the full review
CAD 10	Within an hour	CAD 0.00	0.785	USD 1,570	Send money in CAD to Africa on this blockchain and P2P powered provider.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 10.00 Transfer methods Online, Phone, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies CAD, GHS, KES, MXN, NGN, USD Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Frequently asked questions

Thank you for your feedback!

Rosie Russell

Rosie is a writer at Finder, specializing in international money transfers. She's constantly planning her next trip overseas and is on a mission to make personal finance easier to understand.

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Wise (TransferWise) vs CurrencyFair

We compare the two head-to-head to see which has the edge.

In this guide

Compare

Reviews

Send money to

Exchange rates

Banks

Guides

Quick verdict

Compare up to 4 providers

Which has lower fees?

Wise

CurrencyFair

Let’s crunch the numbers: Sending $1,000 and $10,000 to Poland

Sending $1,000 to Poland

Sending $10,000 to Poland

Which offers better exchange rates?

Wise

CurrencyFair

What's the mid-market rate?

Which is faster?

Wise

CurrencyFair

General features

Wise

CurrencyFair

Bottom line

Looking for more options?

Compare up to 4 providers

Frequently asked questions

How cheap are Wise and CurrencyFair compared to other money transfer options?

Will there be bank fees for sending money to Wise or CurrencyFair?

Can I send money to Wise or CurrencyFair via cash?

Rosie Russell

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