See why TransferWise is the biggest winner of the finder Money Transfer Awards

TransferWise Wins Outstanding Product

And Three More Awards

TransferWise is an overall winner of finder.com’s Money Transfer Awards 2017. Relative newcomer to the international money transfer industry, they proved their outsider thinking to be advantageous. Our multipronged investigative study found that TransferWise scored the highest number of points across four categories: Outstanding Product, Most Convenient, Best Transfer Rates and Most Trustworthy.

Our experience transferring money with TransferWise

Here’s what we found when we sent live transfers to France and Mexico through TransferWise:

  • Our ultra competitive exchange rates were within 0.02% of the mid-market rate on average, with rates updated multiple times a day.
  • Our funds were deposited into our recipient’s French bank account in a speedy two days.
  • TransferWise’s easy-to-use website allowed us to sign up and initiate a transfer in under 2.5 minutes. You also have the option of initiating a transfer by phone.

Read our review

The awards were designed to incorporate all the needs a customer would have when sending money internationally. We scoured the market to find the most relevant products, focusing on 35 providers to collect 1,575 data points that we then used to narrow our selection to 13 services. We used these 13 finalists to send live transfers to France and Mexico, generated quotes for 2,430 transactions, partnered with UserTesting.com to collect another 273 data points from 39 independent participants and tested provider sites to confirm that advertised information was accurate. We also referenced Trustpilot ratings, one of the world’s largest online review communities.

When sending money overseas, consumers must be certain that their hard-earned money can get from point A to point B. But this can be risky. While researching providers we invited fraud on our bank accounts and had our funds taken only to be told that our transfers failed! We hope these awards will bring transparency to the industry and consumers can learn from our investigative and comprehensive research.

Earning a finder.com Money Transfer Award — never mind four of them — is no easy feat. Learn what makes TransferWise so great.

The innovative approach TransferWise is taking brings much needed trust and value back to the international money transfer industry. Offering customers the mid-market exchange rate in more currencies than any other competing provider, gives TransferWise the right to be awarded Outstanding Product.

–Fred Schebesta, CEO finder.com

Best User Experience Award logo

Outstanding Product

Scoring more than 95% in finder’s trust ratings — the highest by far in any category — is just one way that TransferWise dominates foreign money transfers. Along with great rates and features, its accessibility and attention to detail led to the highest total score in our Money Transfer Awards. Outstanding indeed.

TransferWise Most Outstanding Money Transfer Award
Metric Calculation TransferWise Average Score
Best User Experience Category Score / Total Score * 100 78.2 70.6
Most Convenient Category Score / Total Score * 100 71.4 59.7
Fastest Transfer Category Score / Total Score * 100 67.7 68.2
Best Transfer Rates Category Score / Total Score * 100 88.0 62.4
Most Trustworthy Category Score / Total Score * 100 95.5 53.0
TOTAL (winners scored more than 344 points) 400.8 299.5
Best User Experience Award logo

Most Convenient

Knowing you can come to a provider and get all your needs met is our idea of convenience. Available in all 50 states, Americans can send money to 73 countries and territories without having to pick up a phone.
How we verified our country count

TransferWise Most Convenient Award
Metric Scale TransferWise Average Score
Number of available countries and territories 1.0 (0–9)
2.0 (0–19)
3.0 (20–29)
4.0 (30–39)
5.0 (40–49)
6.0 (50–59)
7.0 (60–69)
8.0 (70–79)
9.0 (80–89)
10.0 (90+)
8.0 4.8
Available in all 50 states 0.0 (No); 5.0 (Yes) 5.0 2.7
Maximum transfer per online transaction every 24 hours 1.0 ($0–$1,000)
2.0 ($1,001–$2,000)
3.0 ($2,001–$3,000)
4.0 ($3,001–$4,000)
5.0 ($4,001–$5,000)
6.0 (Over $5,000)
5.0 4.0
Single transfer transaction 0.0 (Wire to provider)
1.0 (Digital wallet)
2.0 (Single transaction)
0.0 1.5
Minimum transfer per transaction 0.0 ($100+)
1.0 ($75–$99)
2.0 ($50–$74)
3.0 ($25–$49)
4.0 ($0–$24)
4.0 3.7
Live transfer success rate 0.0 (0%)
5.0 (50%)
10.0 (100%)
10.0 7.7
Can send funds through credit or debit card 0.0 (No)
1.0 (Yes)
0.0 0.8
Does not require SSN for sign-up 0.0 (No)
1.0 (Yes)
0.0 0.8
Does not require uploaded documentation 0.0 (No)
1.0 (Yes)
1.0 0.5
Instant approval after sign-up (US customers) 0.0 (No)
1.0 (Yes)
1.0 0.8
Can send funds by cash 0.0 (No)
1.0 (Yes)
0.0 0.3
Can send funds over the phone 0.0 (No)
1.0 (Yes)
1.0 0.5
Can schedule future money transfers 0.0 (No)
1.0 (Yes)
0.0 0.2
Can schedule recurring transfers 0.0 (No)
1.0 (Yes)
0.0 0.1
Forward contracts (rate locks) available 0.0 (No)
1.0 (Yes)
0.0 0.1
Can set target rate 0.0 (No)
1.0 (Yes)
0.0 0.1
Recipient can pick up cash 0.0 (No)
1.0 (Yes)
0.0 0.6
Can send with recipient’s email address 0.0 (No)
1.0 (Yes)
0.0 0.2
TOTAL (winners scored more than 32 points) 35.0 29.2
Best Transfer Rates

Best Transfer Rates

The range of cost of money transfers run the gamut, and you want to know you’re getting the best bang (or Peso, Pound, what have you) for your dollar. With some of the most competitive rates in the game, TransferWise easily won our Best Rates Award. An insanely low total remittance fee percentage means that TransferWise charged fees of about 1% on transfers, offering an exchange rate nearly equal to the mid-market rate.

TransferWise Best Transfer Rates Award
Metric Scale TransferWise Average Score
Total remittance fee(Average fee calculated by dividing sum of Hidden Exchange Rate Fee and upfront transfer fees by Transfer Send Amount) 0 (5.0% or more) to
20.0 (<0.25%)
0.25% decrements
16.0 7.2
Average hidden exchange rate fee(Difference between provider’s given exchange rate and the mid-market exchange rate) 0.0 (5.0% or more) to
10.0 (less than .5%)
0.5% decrements
10.0 5.1
Live transfer success rate 0.0 (0%)
2.0 (50%)
4.0 (100%)
4.0 2.5
Doesn’t require sending money to provider(Where likely to incur bank fees) 0.0 (No)
1.0 (Yes)
0.0 0.6
Frequency exchange rates are updated 0.0 (Daily)
3.0 (More than once a day)
3.0 1.8
Maximum transfer per online transaction every 24 hour 1.0 ($0–$1,500)
2.0 ($1,501–$3,000)
3.0 (more than $3,000)
3.0 1.8
Minimum transfer per transaction 1.0 ($100+)
2.0 ($50–$99)
3.0 ($0–$49)
3.0 2.2
Country and territory coverage 1.0 (0–49)
2.0 (50–99)
3.0 (100+)
2.0 1.2
Available in all 50 states 0.0 (No)
3.0 (Yes)
3.0 1.6
TOTAL (Winners scored more than 43 points) 44.0 24.0
Most Trustworthy Award logo

Most Trustworthy

Knowing you don’t have to question what you’re reading gives such peace of mind. As one of the most transparent money transfer sites around — with clear, explanatory videos, disclosure of how they make money — and a thorough FAQ — it’s no wonder that TransferWise is winning. No hidden fees in its exchange rates, accurate rate quotes and an easy-to-understand site are some of the things that put this provider over the top.

TransferWise Most Trustworthy Award
Metric Scale TransferWise Average Score
No fee hidden in exchange rate 0.0 (No)
10.0 (Yes)
10.0 1.5
Understand information on the site 1.0 (Disagree)
5.0 (Agree)
4.6 4.0
Trustpilot rating 0.0 (Stars)
5.0 (Stars)
5.0 3.5
Estimated delivery time accurate 0.0 (No)
3.0 (Yes)
3.0 1.8
Initial quote is complete and accurate 0.0 (Inaccurate quote)
1.0 (No quote given)
2.0 (Quote is accurate)
2.0 1.6
Live transfer success rate 0.0 (0%)
2.0 (50%)
4.0 (100%)
4.0 3.1
Frequency exchange rates are updated 0.0 (Daily)
1.0 (More than once a day)
1.0 0.8
Can send with recipient’s email address 0.0 (No)
1.0 (Yes)
0.0 0.2
TOTAL (Winners scored more than 24 points) 29.6 16.4
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