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WorldRemit vs. Wise (TransferWise)

Don't overpay for your international money transfer.

We compare two top digital money specialists to help you narrow down which offers better rates, lower fees and more flexible transfers for sending cash worldwide.

Established in 2011, Wise uses the mid-market rate to send transfers of up to $199,999.

Compare WorldRemit to Wise

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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WorldRemit and Wise: How they work

Sign up for a WorldRemit account with your mobile number and government-issued ID.Indicate where your recipient lives, your state of residency and how you’d like to send your transfer — a bank-to-bank transfer, mobile money or cash pickup at one of WorldRemit’s 30,000 agents worldwide.

Agree to the fees and transfer amount, then enter your recipient’s contact info to complete your transfer. You’ll receive text confirmation, and WorldRemit converts your money and delivers it to your recipient.

WorldRemit emails you and your recipient when it’s both sent and received.

Read review: WorldRemit

Create a Wise account or sign in with your Google+, Facebook or PayPal account.Indicate how much you want to transfer and your recipient’s details, then transfer the money to Wise. Once Wise receives your money, it converts the currency and sends it to your recipient’s bank account.

You and the recipient are notified when the transfer is complete.

Read review: Wise

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Who offers lower fees?

WorldRemit

WorldRemit’s transfer fees vary, but the fee for most countries is $3.99. Fees depend on your transfer destination and how you’re paying.

Wise

Wise charges a fee equal to a percentage of your transfer, though the exact figure depends on the currencies you’re exchanging. You may also pay an additional transaction fee.

The typical fees for most transfers are:

  • $3 fee for transfers of up to $300
  • 1% of the transfer amount up to $5,000
  • 0.7% on any transfer of $5,000 or more

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Winner: WorldRemit

Costs for both companies come down to where you’re sending money. But WorldRemit offers a more transparent structure, charging a flat $3.99 for most transfers — cheaper than Wise overall.

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Who offers better exchange rates?

WorldRemit

WorldRemit’s respectable margins are sometimes less than 1% above the mid-market rate, depending on your transfer.

Wise

Wise exchanges currency at the mid-market rate, offering to lock in your rate for 24 hours.

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Winner: Wise

Even given WorldRemit’s tight markups, it’s hard to beat the mid-market rate.

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Who’s faster?

WorldRemit

Bank transfers can take up to three days for delivery, although select banks offer instant transfers. Mobile Money is available immediately.

Wise

It can take up to two days for Wise to receive and convert your money, and another few days for delivery to your recipient. That two-step process can result in up to six days for delivery.

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Winner: WorldRemit

WorldRemit’s Mobile Money option can get it there up to six days faster than Wise. Even its slower option could save you a few days.

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Who offers more options?

Payment MethodsMinimum and maximum transfersDelivery methodsTransfer speedsCountries and currencies
WorldRemitBank account, credit or debit card, select digital wallets$1 minimum; maximum varies by countryBank transfer, cash pickup, Mobile Money, airtime top-upMinutes to 3 days145+ countries to send to, 50+ countries to send from
WiseBank transfers, credit or debit card, select digital wallets$1 minimum; $50,000 maximumBank transfer1 to 6 business days50+ countries
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Case Study: Send $100, $1,000 and $10,000 to Mexico

Say you’re looking to transfer to your cousin in Mexico City. Here’s how WorldRemit and Wise compare at different transfer amounts.

$100: WorldRemit by a nose

WorldRemitWise
Transfer fee$2.99$2.09
Exchange rate1 USD = 19.02406 MXN1 USD = 19.30750 MXN
Transfer speedSame day1–2 days
Total received1,902.41 pesos1,890.40 pesos

It’s just about even across the two services. Though WorldRemit gets a few more pesos there faster.

$1,000: WorldRemit — again by a slim margin

WorldRemitWise
Transfer fee$2.99$9.68
Exchange rate1 USD = 19.02406 MXN1 USD = 19.30750 MXN
Transfer speedWithin an hour1–2 days
Total received19,124.06 pesos19,120.60 pesos

Accounting for fees and exchange rates, WorldRemit narrowly wins on cost and speed.

$10,000: Wise — on a technicality

WorldRemitWise
Transfer fee$85.63
Exchange rate1 USD = 19.30750 MXN
Transfer speed1–2 days
Total received191,421.70 pesos

WorldRemit’s maximum transfers to Mexico top out at about $3,000, leaving Wise your only choice.

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Winner: Wise

The two digital specialists are about even for smaller amounts. But Wise’s higher limits give it an edge for those looking to send large amounts to Mexico — a major recipient of remittances from the States.

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Compare to other services?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Airwallex
Airwallex
Within minutes
$0
After spending $15k in your first 90 days, receive a one-time $500 bonus that will automatically be credited to your account on any FX conversion.
Airwallex can help you make business payments to 150+ countries in 60+ currencies.
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
Instarem
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
MoneyGram
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Western Union
Within minutes
From $0
Enjoy $0 fee on your first online transfer. Western Union makes money from currency exchange. Not valid on credit cards or sends to Cuba.
Western Union sends money online to friends and family in 200+ countries and territories around the world.
OFX International Money Transfers (Business)
24 hours
$0
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
$0
Increase business efficiency with zero transaction fees and same-day transfers.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
$0
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
$0
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Xe
Within minutes
$3
Xe has fast transfers with low fees and a range of foreign currency tools.
CurrencyTransfer
24 hours
$0
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
$0
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
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Discounts

Code exclusive

WorldRemit: First Transfer FREE

You first transfer is free with WorldRemit when you use this coupon code. Send or pick up cash in the US or around the world.

Bottom line

WorldRemit can get your money around the world at low fees and stronger rates than you find with other banks and even many online providers. Wise guarantees that you’ll get the mid-market rate — the rate banks use to trade among themselves — but a complicated fee structure can eat into your savings, depending on how much you’re sending.

No matter your needs, compare international money transfer specialists to find the cheapest fees and strongest rates you’re eligible for.

Frequently asked questions