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Wyre
Fastest Transfer Speed
6 hours
Minimum Transfer Amount
$5
Maximum Transfer Amount
$150,000

Summary

The fast way to send money to US, Mexico, Brazil and China

Wyre always charges you the mid-market exchange rate and a .75% transfer fee, and gets your money to your recipient within hours, not days. However, with this new start-up, you can only transfer money to the US, Brazil, China and Mexico. And although it's adding states to its roster, you cannot use Wyre if you live in Hawaii, Wyoming, New York, Oregon, North Dakota, South Dakota, Vermont, New Hampshire, Connecticut, Virginia or North Carolina.

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How does Wyre work?

Unlike other money transfer services, Wyre is a bitcoin startup that uses the blockchain — a digital wallet that publicly records transactions for bitcoin and other cryptocurrency as they’re made — to settle transactions, acting as an intermediary between you and your recipient.

After signing up for a Wyre account, you can begin transferring money to its select countries with no minimum or maximum amounts.

Wyre is best for:

  • Transfers to China, Mexico or Brazil.
  • Large amounts. With no maximum limit, send as much as you need.
  • Domestic transfers. There are no fees for sending money to the US.

Take advantage of blockchain technology to transfer money quickly

Founded in 2013, Wyre provides international money transfers through the use of the blockchain, a digital wallet that publicly records transactions for bitcoin and other cryptocurrency as they’re made. This means that your money arrives safely and quickly, leaving more cash for both you and your recipient.

Highlights

  • Speedy delivery. Your recipient will receive the funds in 6 to 24 hours, depending on receiving country.
  • Bitcoin. Make bitcoin payments in minutes.

How does Wyre 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.
1 - 12 of 12
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ 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.
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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How much does Wyre cost?

Wyre doesn’t have a standard markup over the mid-market rate. They typically use the blockchain rate, which is often better than the mid-market rate.

Domestic transfers between Wyre user accounts are free, and the cross-border transfer fee is 0.75% of your transfer amount, in addition to any payment fees from the transaction method — a bargain compared with the 1% to 4% charged by competitors.

How are Wyre’s exchange rates and fees?

Wyre doesn’t skew the mid-market rate for a profit. Instead, it typically uses the blockchain rate, which is often better than the mid-market rate.

Normally, its “cross-border” fee is a mere 0.75% of your transfer amount, in addition to any payment fees from the transaction method — a bargain compared with the 1% to 4% charged by competitors. Domestic transfers between Wyre user accounts are free.

What types of transfers can I make with Wyre?

  • One-off transfers
  • Recurring payments

Payment methods:

Transfer options vary by country, but US customers can send money by bank account only using:

  • ACH bank transfers
  • Wire deposits

Pros and cons

Pros

  • Lightning-fast transfers. While it boasts that its transfers take minutes, expect a still impressive 6 to 24 hours for your money to be delivered.
  • $0 domestic transfers. Domestic transfers between Wyre users are free.
  • Low transfer fees. Wyre charges only 0.75% for international transfers, a bargain compared with competitors that charge 1% to 4%.
  • No minimum or maximum. Send as little or as much as you need.
  • Schedule regular payments. Wyre offers the ability to set up recurring payments.

Cons

  • Limited state availability. Though new states will be added to its business roster, Wyre currently does not support services in Wyoming, New York, Idaho, Oregon, Washington, North Dakota, South Dakota, Vermont, New Hampshire, Connecticut, Virginia, North Carolina or Georgia.
  • Limited country availability. Wyre currently offers full service to the US, Mexico, Brazil and China only.
  • Limited customer service options. Wyre does not offer 24/7 support and limits its phone support to English speakers located in the United States.

How do I use Wyre?

To start using Wyre, you must first sign up for an account.

Step 1. Sign up for an account

Provide your name, email address and phone number, and create a password

Step 2. Account verification

To verify your account, you’ll need to provide the following info:

  • Date of birth
  • Home address
  • Social Security number
  • Supporting documents
  • Banking info

Step 3. Send money

Once your account has been verified, you can begin sending money. Log in to your account to access your dashboard. From there, enter the amount you want to send and who you’re sending it to, then click “Send Money.”

Once you’ve scheduled a transfer with Wyre, you can track its progress through your Wyre dashboard.

Bottom line

If you need to wire emergency money or send money to someone today in one of the available countries, consider Wyre for your transfer. You won’t pay as much in fees than many other services, so your recipient will receive more money and get it more quickly.

With its limited options, Wyre might not be the best transfer service for you. To find a provider that’s better suited for your international money transfer needs, compare other transfer services and their exchange rates, transfer fees and delivery speeds.

Frequently asked questions