Wise vs Xoom
Wise
wise.comXoom
xoom.comSide by side
| Figure | Wise | Xoom |
|---|---|---|
| Price from | Free | — |
| Free plan | Yes | — |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 1 | 0 |
| Spec score · Money Transfer Apps | 8.9 (#5) | 7.8 (#52) |
| Spec score · Peer-to-Peer Payment Apps | 8.1 (#13) | 7.1 (#24) |
| Exchange-rate model | mid_market | markup |
| Upfront fee display | Yes | Yes |
| Founded | 2011 | 2001 |
| Mobile platforms | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. | both |
| Payment methods | The app says users can fund transfers with Apple Pay, Google Pay, a debit or credit card, or a bank transfer. | Depending on availability, customers may pay using a credit card, debit card, bank account, or PayPal balance. |
| Regulation | Wise states it is authorised by the UK Financial Conduct Authority for issuing electronic money and works with a local bank partner to offer inward remittance service to India with RBI approval. | Xoom states that it is a PayPal service and that PayPal, Inc. is a licensed money transfer provider regulated by federal and various U.S. state governments and agencies. |
| Security | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. | Xoom says its website uses 128-bit encryption and that stored information is protected physically and electronically behind a firewall. |
| Support | Wise says its customer support is available by email, live chat, and phone, 24/7 in English and in 14 other languages. | Xoom says customer support is available by phone and email every day. |
| Transfer speed | On many popular routes, transfers can arrive within one day, the same day, or instantly. | instant |
| Transfer tracking | The app shows the list and current status of transfers users have set up. | Yes |
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.