Xe vs Wise (TransferWise)

Which of these two money specialists offers cheaper, faster, more flexible transfers?

Compare quotes from Xe and Wise Check rates
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Xe and Wise are two popular international money transfer services that allow you to send funds to dozens of countries around the world. To decide which service offers the best value for money, we’ve compared Xe Money Transfer vs Wise for fees, exchange rates and transfer speeds.

Xe and Wise at a glance

XeWise (TransferWise)
Overall rating★★★★★★★★★★
Arrange transfers online
Arrange transfers through app
Arrange transfers by phone
BasedNewmarket, CanadaLondon, UK
FCA reference462444900507
LinkGo to site

Xe vs Wise transfer calculator

1 - 2 of 2
Name Product Fastest transfer Fee Key benefits Amount received
Within minutes
From £0
Refer a friend and you'll each get a £25 Amazon voucher when they transfer over £1,000. T&Cs apply.
Wise (TransferWise)
Within minutes
From £0.20
Refer 3 friends to receive up to £50 referral bonus

Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.

Which has lower fees?

With Xe, you pay £2 on money transfers below £250. The fee is scrapped for transfers above that amount.

With Wise, fees vary depending on where your recipient lives and how much you’re sending. Wise charges a fixed fee plus a percentage of each transfer. These fees vary depending on the currency and country you’re sending to.

Trophy iconWinner: Xe

Which offers better exchange rates?

Xe’s exchange rates are based on the live foreign exchange markets. They’re often better than the rates from banks and competitive with other money transfer specialists.

Wise quotes the mid-market rate for money transfers. Banks and foreign exchange specialists use the mid-market rate when trading with one another, and it’s often higher than prevailing foreign exchange rates.

Trophy iconWinner: Wise

Example: Sending £200 and £2,000 to India

To give you an idea of how they directly compare, we checked fees and exchange rates for two different transfer amounts on 5 May 2021 while paying by card.

Xe £200Wise £200Xe £2,000Wise £2,000
Exchange rate1 GBP = 102.086 INR1 GBP = 102.643 INR1 GBP = 102.086 INR1 GBP = 102.643 INR
Transfer speed1 – 2 days1 – 2 days1 – 2 days1 – 2 days
Amount receivedINR 20,412INR 20,551INR 204,129INR 204,362

Coverage and payout

XeWise (TransferWise)
Coverage rating★★★★★★★★★★
Number of available currencies77
(including: EUR, USD, INR, PHP, PKR, ZAR)
(including: EUR, USD, CNY, INR, PHP, PKR, ZAR)
Number of supported countries218222
Cash pick-up facility
Speed rating★★★★★★★★★★
Fastest transfer speedWithin minutesWithin minutes
LinkGo to site

Which is faster?

Xe estimates that it will take one to four days for the money to reach your recipient. Delivery time typically depends on what country you’re sending the money to.

Wise provides a calculator that can help you estimate how long it will take for your money to get to your recipient. Timing depends on where you live, your recipient’s country and how you pay for the transfer. Credit card payments tend to move faster than bank transfers, for instance.

Wise gets a lot of reviews for the accuracy of its delivery estimates.

Trophy iconWinner: Tie

Payment methods

XeWise (TransferWise)
Bank transfer
Debit card
Credit card
LinkGo to site

Forex features

XeWise (TransferWise)
Facilities rating★★★★★★★★★★
Recurring transfer facility
Forward contracts facility
Limit orders facility
Stop loss orders facility
Customer servicePhone, EmailPhone, Live chat, Email
Personal account manager
Price matching facility
LinkGo to site

The verdict: Which is better: Xe or Wise?

Trophy iconOverall winner: Xe… narrowly!

Both Xe and Wise offer fast, straightforward international transfers that beat the banks. The main difference between the two is the way they cover costs (and make a profit) on transfers. Xe adjusts the exchange rate it offers, while Wise offers the mid-market rate but adds fees. And despite the fact that Wise recently increased those fees, the two services work out fairly similar on price across many popular currencies and transfer amounts.

Xe has the edge on versatility – offering a cash-pickup facility and supporting transfers in a wider selection of currencies.

But ultimately these are both great services, with slick apps and actual human reps (!) at the end of the phone.

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