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WorldRemit vs. Wise (TransferWise)
Don't overpay for your international money transfer.
Guides
Exchange Rates
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.
Quick verdict
Compare WorldRemit to Wise
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.
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.
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
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.
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.
Winner: Wise
Even given WorldRemit’s tight markups, it’s hard to beat the mid-market rate.
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.
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.
Who offers more options?
| Payment Methods | Minimum and maximum transfers | Delivery methods | Transfer speeds | Countries and currencies | |
|---|---|---|---|---|---|
| WorldRemit | Bank account, credit or debit card, select digital wallets | $1 minimum; maximum varies by country | Bank transfer, cash pickup, Mobile Money, airtime top-up | Minutes to 3 days | 145+ countries to send to, 50+ countries to send from |
| Wise | Bank transfers, credit or debit card, select digital wallets | $1 minimum; $50,000 maximum | Bank transfer | 1 to 6 business days | 50+ countries |
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
| WorldRemit | Wise | |
|---|---|---|
| Transfer fee | $2.99 | $2.09 |
| Exchange rate | 1 USD = 19.02406 MXN | 1 USD = 19.30750 MXN |
| Transfer speed | Same day | 1–2 days |
| Total received | 1,902.41 pesos | 1,890.40 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
| WorldRemit | Wise | |
|---|---|---|
| Transfer fee | $2.99 | $9.68 |
| Exchange rate | 1 USD = 19.02406 MXN | 1 USD = 19.30750 MXN |
| Transfer speed | Within an hour | 1–2 days |
| Total received | 19,124.06 pesos | 19,120.60 pesos |
Accounting for fees and exchange rates, WorldRemit narrowly wins on cost and speed.
$10,000: Wise — on a technicality
| WorldRemit | Wise | |
|---|---|---|
| Transfer fee | – | $85.63 |
| Exchange rate | – | 1 USD = 19.30750 MXN |
| Transfer speed | – | 1–2 days |
| Total received | – | 191,421.70 pesos |
WorldRemit’s maximum transfers to Mexico top out at about $3,000, leaving Wise your only choice.
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.
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.
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Discounts
WorldRemit Deals
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.
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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
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