TransferGo vs Wise
TransferGo
transfergo.com
Wise
wise.comSide by side
| Figure | TransferGo | Wise |
|---|---|---|
| Price from | Free | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | — | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 8 | 1 |
| Spec score · Money Transfer Apps | 8.8 (#9) | 8.9 (#5) |
| Exchange-rate model | markup | mid_market |
| Upfront fee display | Yes | Yes |
| Founded | 2012 | 2011 |
| Free plan | Yes | Yes |
| Headquarters | London, United Kingdom; Vilnius, Lithuania | London, United Kingdom |
| Mobile platforms | The app is available for iOS, Android and Huawei. | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Recipient methods | Transfer options include card-to-card payments, e-wallets and cash transfers. | bank |
| Regulatory status | TransferGo is regulated under EU and UK law and authorised by the FCA as an EMI. | Wise says it is licensed in most states and regulated by authorities worldwide. |
| Transfer speed | Transfers can be delivered in minutes, instantly, within an hour or next business day depending on method. | On many popular routes, transfers can arrive within one day, the same day, or instantly. |
| Transfer tracking | Yes | The app shows the list and current status of transfers users have set up. |
Plans
TransferGo
- Free multicurrency accountPrice not published
- International bank-account transferPrice not published
- International card transferPrice not published
- Currency exchangePriced on request
- Multi-currency accountFree
- Transfers to bank accountsPriced on request
- Transfers to cardsPriced on request
- Virtual GoCardFree
In their own words
TransferGo
TransferGo is a mobile service for international transfers and multi-currency balances, with transfers available to over 160 countries. Recipients can receive money through bank accounts, payment cards, e-wallets, and cash transfers. TransferGo lists instant transfer speed, while its plan details also state next-business-day delivery for bank-account transfers. Bank transfers start from 0.2%, and card transfers start from 0.2% with possible third-party fees. Currency exchange starts at 0.5%, or 0.2% for exchanges within the account. The multi-currency account has no setup or monthly costs and supports GBP, EUR, PLN, and RON balances. Users can see fees upfront and track transfers. Registration can be completed online on a computer as well as through the Android and iOS apps. TransferGo says it uses end-to-end encryption and safeguards transfers so money can be returned if a transfer fails. It is regulated under EU and UK law and authorised by the FCA as an EMI. Customer service is available in English and nine other languages.
Wise
Wise is a money app for sending money, receiving payments from abroad, checking exchange rates, paying bills, and sending money to loved ones. It sends to bank accounts in over 140 countries; delivery on many popular routes is within a day, the same day, or instant. Wise says it uses the mid-market exchange rate and displays fees before payment. Signing up is free, with no subscription; sending and conversion fees vary by currency and start from 0.33%. Sending to another Wise account has no sending fee, though conversion fees may still apply. Transfers can be funded with Apple Pay, Google Pay, cards, or bank transfer. Users can track and schedule transfers, repeat previous transfers, and receive live exchange-rate notifications. Wise says it safeguards customer money separately from its own and uses two-factor authentication to protect accounts and transactions. Photo ID may be required for some currencies or large transfers. The app is available on Android, iOS, and web.