
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
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, compare XE and Wise side by side on fees, exchange rates and transfer speeds.
With XE, you pay no fee on your money transfer, no matter how much you’re sending.
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.
Winner: XE
Although Wise typically charges lower fees than banks and other money transfer specialists, it can’t trump XE’s no-fee service.
To give you an idea of how they directly compare, we checked fees and exchange rates for two different transfer amounts on June 8, 2020 while paying by ACH bank debit.
XE $1,000 | Wise $1,000 | XE $10,000 | Wise $10,000 | |
---|---|---|---|---|
Fee | $0 | $10 | $0 | $100 |
Exchange rate | 1 USD = 21.33 MXN | 1 USD = 21.50 MXN | 1 USD = 21.41 MXN | 1 USD = 21.50 MXN |
Transfer speed | 1 – 2 days | 1 – 2 days | 1 – 2 days | 1 – 2 days |
Amount received | MXN 21,330 | MXN 21,287 | MXN 214,137 | MXN 212,869 |
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.
Winner: Wise
Wise always gives you the mid-market rate. However, Wise’s fees may end up costing you more, even though XE is offering a weaker rate. Use the table above to compare a transfer with your specific sending destination and preferred amount.
XE estimates one and four days for the money to reach your recipient. Delivery time typically depends on your recipient’s country.
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.
Winner: Tie
With so many variables that can affect how long your friends or loved ones might have to wait, we simply can’t determine which of these two money transfer specialists are better when it comes to speed.
XE Money Transfers specializes in international transfers of any size, as orders placed over the phone have no maximum limit. XE charges no fees and allows you to send to more than 130 countries around the world. It also offers an app that provides continuously updated exchange rates on hundreds of currency pairs. Overall, XE’s strong rates makes it worth checking before you send your next transfer, particularly if you’re sending a large amount of money.
Wise always gives you the mid-market rate, something few companies do in the money transfer market. On top of this, Wise is transparent about its fees, so you’ll know exactly what you’re being charged and how to adjust your transfer accordingly to possibly save money. With Wise’s straightforward website, you can sign up and have your first transfer sent within a few minutes, or call the company and send a transfer by phone.
XE Money Transfer provides no-fee money transfers at rates that beat the banks, similar to other online money transfer specialists. You can send as much as $500,000 online and more by calling a rep. Wise, however, can get you more money for your dollar with a stronger mid-market rate, especially on high-dollar transactions.
Still not convinced that XE or Wise is for you? Compare your options to send funds overseas.
Support your child’s financial knowledge and teach the important real-life money skills in a safe and controlled way with a kids’ debit card.
Sigue offers speedy money transfers to 50+ countries, but you have to set up a transfer to see the transaction fees.
Join Boss Revolution with an email address and phone number, and send money within minutes.
Invest in your child’s future and encourage others to do so, too. Learn about EarlyBird.
Usend combines money transfers, bill pay and mobile phone reloading.
Paysend offers transfers to more than 70 countries through its app and online service.
Wise Loan may be an expensive choice, but it’s upfront about its costs.
Pairing international calls with money transfers makes Boxypay a unique choice.
Sending a large money transfer to Hong Kong? Learn about laws and required documentation before you transfer.
Manage your international finances with free transfers to HSBC customers.