Wise vs Xe Money Transfer
Wise
wise.com
Xe Money Transfer
xe.comSide by side
| Figure | Wise | Xe Money Transfer |
|---|---|---|
| Price from | Free | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 1 | 1 |
| Spec score · Money Transfer Apps | 8.9 (#5) | 8.6 (#13) |
| Exchange-rate model | mid_market | markup |
| Upfront fee display | Yes | Yes |
| Founded | 2011 | 1993 |
| Free plan | Yes | Yes |
| Headquarters | London, United Kingdom | Newmarket, Ontario, Canada |
| Identity verification | Photo ID may be required for some currencies or large transfers. | Xe may require identity documents, and the required documents vary by country. |
| Mobile platforms | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. | both |
| Rate alerts | The app can send exchange-rate alerts so users can track the mid-market rate. | The app can notify users when a chosen exchange rate is reached. |
| Scheduled transfers | Yes | Yes |
| Security | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. | Xe says it uses encryption, multi-factor authentication, identity verification, and fraud monitoring to protect transfers. |
| Support | Wise says its customer support is available by email, live chat, and phone, 24/7 in English and in 14 other languages. | Customers can contact support through the app, and Xe’s security page says its support team is available 24/5. |
| Transfer speed | On many popular routes, transfers can arrive within one day, the same day, or instantly. | Transfer timing depends on currency, destination, and payment method; Xe says recipients typically receive transfers within 1 to 3 business days after Xe receives payment. |
| Transfer tracking | The app shows the list and current status of transfers users have set up. | Customers can track transfer status and timelines in the app or online account and can ask Xe’s virtual assistant Lexi for a status update. |
Plans
In their own words
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.
Xe Money Transfer
Xe Money Transfer sends international payments for individuals and businesses to over 190 countries in more than 130 currencies. Transfers are described as instant, and the exchange rate includes a markup. Fees vary by currency, destination and payment method; applicable charges are shown before confirmation. Depending on availability, customers can pay by direct debit (ACH), wire transfer, or debit or credit card. Recipients may receive funds by bank deposit, cash pickup or mobile wallet where available. Xe is available on the web and in iOS and Android apps, which support transfers, currency conversion, live exchange rates and transfer tracking. Users can set rate alerts and schedule transfers. Online limits vary by region, and payment methods may impose additional limits. Xe may request identity documents, with requirements varying by country. Xe says it uses encryption, multi-factor authentication, identity verification and fraud monitoring, and that it is globally regulated and complies with privacy regulations including GDPR and CCPA. Support is available through the app; Xe says its support team is available 24/5.