We only list companies that are trustworthy and appropriately licensed. Our aim is to give you a comprehensive view of the regulated money transfer marketplace.
We only list companies that are trustworthy and appropriately licensed. Our aim is to give you a comprehensive view of the regulated money transfer marketplace.
|Disclosure
MoneyTransfers aims to help users find the best money transfer provider for their needs. To support our free service, we may earn a commission from some of the providers listed in our search results. The commission may also impact the ordering of the providers shown. Our reviews are independent from this and are based on our editorial policy, research and testing of dozens of remittance providers on the market.
MoneyTransfers aims to help users find the best money transfer provider for their needs. To support our free service, we may earn a commission from some of the providers listed in our search results. The commission may also impact the ordering of the providers shown. Our reviews are independent from this and are based on our editorial policy, research and testing of dozens of remittance providers on the market.
Table of Contents
The main difference between Western Union and Wise is that Wise offers money transfers at the mid-market rate while Western Union charges a margin above the mid-market rate for any given currency pair.
When you’re sending money abroad, using a money transfer service is often the most cost-effective way to send your money abroad, not to mention with far faster transfer times than traditional international bank transfers. However, with so many providers on the market, how do you choose the right one for you? In this head-to-head comparison, we’re taking an in-depth look at two money transfer giants, Wise vs Western Union, to help you decide which service is most suited to your needs.
Between Wise vs Western Union, it's safe to say that Wise is almost always going to provide a more affordable option.
Western Union has a complex fee structure with high exchange rate markups (sometimes even matching that of banks), whilst Wise has fast transfer times, no exchange rate markup, and a transparent fee structure.
The only aspect in which Western Union really has the edge on Wise is its wide-reaching agent locations, making cash pickups possible in hundreds of countries - something Wise is unable to offer.
"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
Please share your experience with Wise
Would you recommend Wise?
Russell Pinkes
I can’t send money to Belize
No, I don't recommendNovember 19th, 2025
Katsiaryna
Once trying to open sire, was automatically blocked for no reason
No, I don't recommendOctober 5th, 2025
Alan
Unable to transfer money from Philippines to any other country. Philippines Wise does not work
No, I don't recommendOctober 1st, 2025
Anonymous
Retiro de dinero en transferencia
Yes, I recommendSeptember 6th, 2025
Uwe
great rates and service - unfortunately for some countries not yet available
Yes, I recommendAugust 25th, 2025
Martin Premprakash Anantharaman
On the first transfer to a hospital in NY they were already screaming that this was a sure scam and the same on my next transfer to a fried in Nigeria. They then summarily closed my account TERMINATING THE RUNNING TRANSFER TO NIGERIA, claiming that, hold on, I was being scammed🤦♂️ Sure, I could have appealed but immediately found that I would have had to provide so much intrusive detail that I desisted.
No, I don't recommendJuly 22nd, 2025
Martin Premprakash Anantharaman
Setting up is a bit unwieldy if you want to make a one-off transfer, as you have to create an account with complete identification - but it works and the process as well as charges are great.
Yes, I recommendJuly 18th, 2025
Anonymous
My brother wants to send me money from India to Nigeria but he's finding it difficult how can he do it
No, I don't recommendApril 17th, 2025
Mohammed
WARNING : Wise was Great until main office decided to ruin WISE By letting the TW India office control handling Random verifications and do what ever they want by insane replies and no replies etc.
If you want to waste your time and enjoy a journey into Black Hole of Insane then go ahead and try WISE !
No, I don't recommendFebruary 14th, 2025
Anonymous
Can't receive money from php to idr so far
I'm not sureJanuary 24th, 2025
sudheir
They don't allow transfer to Brokerage firms from India
No, I don't recommendJanuary 13th, 2025
Anonymous
Good app to transfer money
Yes, I recommendJanuary 13th, 2025
Anonymous
I didn't find Cuba on your list.
No, I don't recommendDecember 29th, 2024
Anonymous
cuba not work
No, I don't recommendDecember 22nd, 2024
Nina
I made a transfer to a Canadian company 1.5 months ago, and the funds have not yet been received. After multiple emails, Wise insists that the money was paid out. However, I have received an official statement from the recipient’s bank confirming that the money has not been received. Wise's complaints department sent me a final letter stating that, according to their records, the funds were paid out.
Additionally, Wise states the following in their Customer Agreement regarding their responsibility for losses:
Quote from Wise's Terms:
"Our Customer Agreement also explains our responsibility for losses in Section 29:
29.1 Unforeseeable loss or damage. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during your sign-up process.
29.9 We are not liable for things which are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay because of things which are outside our control."
Despite these terms, Wise has not been able to resolve this issue, and the money has still not been delivered as promised.
I find it irresponsible that Wise does not conduct any investigations into the matter. The Canadian bank associated with Wise is unable to provide any information, as everything goes through Wise. Wise must be capable of tracking the funds and providing precise details about where exactly the money is, who received it, and to which bank account it was deposited.
I would advise everyone to be cautious when transferring large sums of money with Wise. They are not capable of executing a secure money transfer!
No, I don't recommendDecember 8th, 2024
Shengjie Yin
good and perfect
Yes, I recommendDecember 2nd, 2024
Tristan
Beware: Wise's Unethical Policies and Unresponsive Support Cost My Business
I am sharing my experience with Wise to warn fellow business owners about the serious risks and unacceptable practices you may encounter if you choose to use their services.
My business, is a legally registered travel agency in the UK, and I relied on Wise to manage payments for my photography and cultural tours, primarily in South America. Things took a turn for the worse when Wise froze my account and accused my business of violating their Acceptable Use Policy, citing my once-a-year humanitarian trip to Cuba.
Despite explaining multiple times that:
No Cuba-related transactions were ever processed through Wise (I use a separate European bank for this purpose),
My tours comply with the “Support for Cuban People” category authorized by OFAC, designed to help Cuban citizens outside state control,
Wise completely ignored the facts. Their customer support team responded with automated messages, refused to engage in any meaningful dialogue, and even lied, claiming they didn't monitor my emails—despite clear evidence to the contrary. After days of chasing them and providing thorough documentation, they chose to close my account without justification.
The Consequences:
Wise left my business in chaos, disrupting essential transactions and client arrangements.
Their rigid policies align with sanctions widely condemned by the global community, and in doing so, they indirectly support humanitarian suffering.
The Bottom Line:
Wise is unreliable, unresponsive, and unethical. If your business has any complexity or humanitarian focus, beware: Wise will shut you down without notice or explanation, and customer support will abandon you. Their actions have serious real-world consequences.
Avoid Wise if you value your business stability or require ethical and accountable financial services. There are far better alternatives out there that won’t put your livelihood at risk Beware: Wise's Unethical Policies and Unresponsive Support Cost My Business
No, I don't recommendNovember 14th, 2024
Anonymous
I have been a customer for a few years. Yes I love the instant deposits as I make around $1K. However as many non US entities Wise uses a bank out of New York. Therefore the TRANSFER and DEPOSIT from an account transfer can take 4 to 6 days. What this means is that you will not able to make another ACH transfer during this time. This is frustrating if you have to make a follow up transfer in a few days. All in all don't plan to make more than 4 transfer in a month because it may not fo through, Not sure if other transfer companies operate the same way but I am about to find out as I will try Revolute. Bottom linw will require you to use ANOTHER payment method like credit card or some other method. Understand this: YOU MAY HAVE THE MONEY IN YOUR ACCOUNT but they WILL NOT TRY TO VERIFY IT WITHIN THE THE PERIOD IT WILL TAKE THEM TO DEPOSIT IT IN YOUR ACCOUNT. To add insult to injury I called in and the agent siad that they can see that they got paid but the computer takes time to update/reconcille I guess! It is a slow system!
I'm not sureNovember 7th, 2024
Anonymous
There is a lot of advice on RECEIVING INHERITANCE in the UK from overseas but nothing on the rules for SENDING money gifts to grandchildren living OVERSEAS and the rules on Inheritance Tax in that case.
I'm not sureOctober 29th, 2024
Anonymous
The service is decent, nothing more. I have had security issues that are not quickly resolved. Call center personnel are average. The app is not, in general, user friendly. You should definitely do research on a variety of service providers before making a choice. Do not take the reviews at face value. I chose Wise based on positive reviews but now regret not doing more research on other companies.
I'm not sureOctober 20th, 2024
Anonymous
So far so good
I'm not sureOctober 14th, 2024
Daniel
I checked to see if Wise even sends money to Colombia. Colombia is not even in their list of countries. Why is it even advertising for Colombia?
I'm not sureOctober 10th, 2024
Bill Sanders
I have used Wise for several years. They once rejected a large transfer because it was to a coal company. Apparently, they are a woke company! But they refused to tell me why. More recently, they required verification of my identity using a smart phone. I am 69 and never owned a cell phone because I don't need one. But they forced me to buy one, which I did last week. Getting the phone updates ate up all my data, so i got 1 GB more. I took 12 different pics of my passport and another 12 of my face for them. They rejected them - and are holding up my transfer. Now my phone ate up that gig of data and I must buy another gig (thru Tracfone) just to use the phone. What a hassle. This is not a photo studio! They know who i am already.
Note: This comment has been edited by the MoneyTransfers.com team to align with our content guidelines.
No, I don't recommendOctober 3rd, 2024
Ziggy Meilus
It used to be always instant, now it may come right away or it can take 5 even 7 days to get the money.
I'm not sureAugust 30th, 2024
Anonymous
i've heard of people having issues with accounts being locked/restricted, but i think that was mostly for business accounts, maybe they were locked for good reason. for me, i've had no issue with my account though i've only used it for small transfers and not very often, over the past 5+ years
Yes, I recommendJuly 26th, 2024
Showing 10 out of 25 reviewsShowing 25 out of 25 reviews
Which brand has lower fees?
Wise
Wise makes a point of being very transparent about its fees and will give you a breakdown of the fee you can expect to pay immediately upon using their currency tool.
The exact fees you will be charged will vary depending on:
The amount you are sending (the larger your transaction, the higher the fee)
Your payment method
Where are you sending the money from (fees may increase if you are sending money from other countries).
Whether you opt for a fast transfer (higher fees) or a low-cost transfer (potentially longer transfer times).
The company’s fees are made up of a small percentage of the transfer amount, hence higher fees for larger transfers, plus a small fixed fee which can vary depending on whether you opt for a fast or a low-cost transfer, as well as the variables above.
Here are a few examples of live fees from Wise for various amounts when sending money from the EU.
Western Union also charges transfer fees that will vary depending on:
The country you are sending to
The size of the transfers
Your transfer payment method
Payout method
Whether you’re sending money online or with an agent
To give you an indication, organising a cash pickup will be more expensive than doing a direct-to-bank transfer while paying for your transfer with a debit or credit card will be most expensive (but quicker) than a bank transfer. Western Union also has a tool on their website that will show you the fees you should expect to pay for your specific transfer.
✅ Verdict: Fees are variable, but Wise takes the edge
Between Wise vs Western Union, the exact fees you can expect to pay will vary depending on a number of factors, it's difficult to label one provider or the other as the most affordable overall - however, from the examples we've run through, Wise does have slightly lower fees. Taking into account the fact that Western Union add a margin onto the exchange rate (discussed below), Wise is almost certainly the more affordable option.
Which brand offers better exchange rates?
Wise
Wise really stands out as a money transfer provider because they offer money transfers at the mid-market rate.
The provider adds no markup on the exchange rate when transferring your money, so you would be hard pushed to find a better rate.
Similar to the fees, here are a few examples of the live exchange rates from Wise based on different pairs and transfer amounts.
Western Union charges a margin above the mid-market rate for any given currency pair, although the exact rates charged is, again, dependent on several factors:
The type of transfer (online transfer tend to have higher rates than agent transfers)
Payout method (cash pickups will have a lower interest rate compared to, say, bank transfers)
The amount transferred (larger sums will have higher rates than smaller transfers)
The destination you are sending to
Here's how Western Union rates compare to Wise for the same transfer.
✅ Verdict: Wise offers one of the best exchange rates you’ll find
When it comes to comparing money transfer providers purely based on exchange rates, it’s hard to beat Wise. The company’s commitment to providing international transfers at the mid-market rate is something you won’t often see elsewhere, and Western Union’s markup can’t compete.
Which brand covers more locations?
Wise
Wise supports transfers to 59 countries, including the vast majority of Europe, the United States, India, Brazil, Australia, and Canada. The provider also invites users to vote to any currencies or countries that currently aren’t supported
Western Union
Western Union supports over 200 countries for international money transfers in over 130 currencies. The company boasts hundreds of thousands of agent locations worldwide, so is a popular choice for less frequently travelled currency corridors.
✅ Verdict: Western Union supports money transfers for hundreds of countries
Unsurprisingly, Western Union’s position as one of the longest-running money transfer providers puts it in good stead in terms of disbursing network, with thousands of agent locations in over 200 countries worldwide.
Which has faster transfer times?
Wise
Wise states that its transfers will typically take no longer than 2 business days to be processed and that even 2 business days is rare.
It also provides the option to choose between either ‘fast and easy’ transfers and ‘low-cost’ transfers, so that users can choose whether time or cost is their main priority.
Western Union
Western Union can offer transfers that are processed within minutes, or within a couple of days, depending on the structure of your transfer.
For example, if you arrange a cash pickup or a mobile wallet transfer with Western Union, your transfer will typically arrive in minutes. Option for a bank deposit as your payout method, however, can take closer to two days.
Equally, your payment method can affect your transfer time. Paying on a debit or credit card will typically be faster than a bank transfer, for example. Finally, your destination can impact your transfer time.
✅ Verdict: It's a tie
Between Western Union vs Wise, both of these providers can offer transfers that take minutes, or days, depending on the type of transfer you are sending. That’s why it’s always best to compare a couple of providers for your specific money transfer requirements to get a better insight into exactly how long your transfer is likely to take.
Which brand offers more transfer & payment options?
Wise
Wise accepts credit or debit cards, online bank transfers, Apple and Google Pay, POLi, and direct bank debits (ACH) as payment methods, with bank transfers being the most commonly used form of payout to recipients.
It should be noted that the company does not accept cash or cheque payments for any currency, and does not provide cash pickups.
Western Union
Western Union accepts payment via credit or debit cards, instant bank transfers, bank transfer via the FPS, and cash payments at an agent location.
✅ Verdict: Western Union offers more payout options
If getting your money to your recipient in cash is a priority, Western Union offers this service as well as the option to deposit money into mobile wallets. Wise, on the other hand, has a bigger focus on digital transactions and does not offer cash payouts as an option.
What do users have to say about each brand?
Wise
Wise has over 260,000 reviews on Trustpilot and a total ‘Excellent’ rating of 4.3 out of 5.
Users are most commonly positive about:
The platform’s ease of use
Faster transfers
Affordability
In terms of negative reviews, some users dislike the digital focus which limits the ability to talk with a customer service agent directly. Likewise, another negative point is that the company's competitive fees only go up to a certain point: for large transactions, other providers tend to offer more competitive rates.
Western Union
Western Union has over 17,000 reviews on Trustpilot and an overall ‘Average’ score of 3.3 out of 5.
Positive reviews discuss these points in particular:
Good customer service
An easy, seamless transaction
The usefulness of having physical agent locations
Amongst the negative reviews, however, customers reported issues with their money being received by the recipient, slow transfer times, and expensive exchange rates. Elsewhere online, the provider is generally well-regarded as a reputable money transfer service but in many areas, unable to keep out with the competitive rates and smooth digital experience many of the newer money transfer providers (Wise included) can offer.
✅ Verdict: Wise has far more positive reviews to back up its service
Comparing Wise vs Western Union, Wise has over 8 million users and tens of thousands of positive reviews to back up its excellent rates, convenient service, and fast transfer times. While Western Union has been around a long time and has many loyal customers, it doesn’t fare well in terms of reviews in comparison.
What brand offers a better ease of use, accessibility & security?
Wise
Wise supports 12 languages on its website, including English, Spanish, German, Portuguese, Romanian, Japanese, Polish, Russian, Italian, Hungarian, French, and Turkish.
For customer support, the platform does provide assistance via live chat, email, and phone, although some users find these options difficult to access on the platform. The app is extremely user-friendly and easy to use for making transfers on the go.
In terms of security, Wise has a 2-factor authentication system that sends the user a code to verify a transaction before proceeding. The provider won’t always require additional documents from you to verify your account, but in the cases where they do (for example, if you are sending large sums), you may be asked for a photo ID, proof of address, or a photo of you holding your ID. (This list is for information purposes only and is not meant to be a comprehensive list of all of the items that Wise may request to verify identity. Eligibility is subject to identity verification.)
Western Union
The Western Union website supports hundreds of different languages for people sending money all around the world. In terms of customer support, many customers like having a physical agent location to visit for support with transfers, although the website does also have the option to email or call customer services.
The provider does have an app to allow you to initiate transfers 24/7, and that’s available on both iOS and Android, and receives overwhelmingly positive reviews for its ease of use and user-friendly functionality.
The company will take you through several steps to verify your identity when you first register on the site. For this reason, it’s a good idea to get your account set up and verified before you need to make your transfer to avoid delays. As part of it’s security measures, Western Union has implemented Software Composition Analysis (SCA). This is a customer authentication security layer applied to both payment booking and account access and manipulation. It is part of the two-factor authentication (2FA) security protocol.
✅ Verdict: It's a tie
Between Western Union vs Wise, both are trusted, well-respected money transfer providers with multiple security measures in place to keep your money safe.
Additional features you might be interested in
Wise
As well as international money transfers, Wise has expanded to offer a multi-currency account to their users.
The account enables users to be paid in over 50 currencies, avoiding unfair exchange rates and fees from local banks, and also comes with its own debit Mastercard which has fee-free ATM withdrawals up to £200. Don't forget though, independent ATM networks may charge their own fees.
Western Union
The main feature that makes the provider an appealing choice for many customers is their thousands of agent locations enabling easy cash pickups when sending your money abroad.
If you want your recipient to receive your transfer in cash, Western Union is a good option.
Sending various amounts with Wise vs Western Union
To give you a feel of what it is like to send money using Western Union vs Wise, we'll consider the following scenarios when making various transfers.
✅ Verdict: Wise has better fees and transfer times, but Western Union has more options
For these Western Union vs Wise case studies, we can see that the costs associated with each amount are lower when sending with Wise, and it is possible to complete within minutes compared to several working days with Western Union.
However, the cash pickup option Western Union provides for smaller sums may be a big appeal for some, so this is worth keeping in mind.
Wise vs Western Union - which is better?
Overall, our top pick out of these two is Wise - but if sending your money to your recipient in cash is a must for you, this isn't an option with Wise.
Both of these providers are well-known and well-respected names in the money transfer space for good reason. They offer a secure service and provide a more cost-effective way to send money abroad than most traditional banks.
However, when we compare the two, they're differences are clear. Western Union is most appealing for it's thousands of agent locations across the world, making cash pickups easy and accessible for millions of people. However, its rates are not competitive when compared to Wise, who offer a faster service, more user-friendly platform, and at a fraction of this price.
"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
Please share your experience with Wise
Would you recommend Wise?
Russell Pinkes
I can’t send money to Belize
No, I don't recommendNovember 19th, 2025
Katsiaryna
Once trying to open sire, was automatically blocked for no reason
No, I don't recommendOctober 5th, 2025
Alan
Unable to transfer money from Philippines to any other country. Philippines Wise does not work
No, I don't recommendOctober 1st, 2025
Anonymous
Retiro de dinero en transferencia
Yes, I recommendSeptember 6th, 2025
Uwe
great rates and service - unfortunately for some countries not yet available
Yes, I recommendAugust 25th, 2025
Martin Premprakash Anantharaman
On the first transfer to a hospital in NY they were already screaming that this was a sure scam and the same on my next transfer to a fried in Nigeria. They then summarily closed my account TERMINATING THE RUNNING TRANSFER TO NIGERIA, claiming that, hold on, I was being scammed🤦♂️ Sure, I could have appealed but immediately found that I would have had to provide so much intrusive detail that I desisted.
No, I don't recommendJuly 22nd, 2025
Martin Premprakash Anantharaman
Setting up is a bit unwieldy if you want to make a one-off transfer, as you have to create an account with complete identification - but it works and the process as well as charges are great.
Yes, I recommendJuly 18th, 2025
Anonymous
My brother wants to send me money from India to Nigeria but he's finding it difficult how can he do it
No, I don't recommendApril 17th, 2025
Mohammed
WARNING : Wise was Great until main office decided to ruin WISE By letting the TW India office control handling Random verifications and do what ever they want by insane replies and no replies etc.
If you want to waste your time and enjoy a journey into Black Hole of Insane then go ahead and try WISE !
No, I don't recommendFebruary 14th, 2025
Anonymous
Can't receive money from php to idr so far
I'm not sureJanuary 24th, 2025
sudheir
They don't allow transfer to Brokerage firms from India
No, I don't recommendJanuary 13th, 2025
Anonymous
Good app to transfer money
Yes, I recommendJanuary 13th, 2025
Anonymous
I didn't find Cuba on your list.
No, I don't recommendDecember 29th, 2024
Anonymous
cuba not work
No, I don't recommendDecember 22nd, 2024
Nina
I made a transfer to a Canadian company 1.5 months ago, and the funds have not yet been received. After multiple emails, Wise insists that the money was paid out. However, I have received an official statement from the recipient’s bank confirming that the money has not been received. Wise's complaints department sent me a final letter stating that, according to their records, the funds were paid out.
Additionally, Wise states the following in their Customer Agreement regarding their responsibility for losses:
Quote from Wise's Terms:
"Our Customer Agreement also explains our responsibility for losses in Section 29:
29.1 Unforeseeable loss or damage. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during your sign-up process.
29.9 We are not liable for things which are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay because of things which are outside our control."
Despite these terms, Wise has not been able to resolve this issue, and the money has still not been delivered as promised.
I find it irresponsible that Wise does not conduct any investigations into the matter. The Canadian bank associated with Wise is unable to provide any information, as everything goes through Wise. Wise must be capable of tracking the funds and providing precise details about where exactly the money is, who received it, and to which bank account it was deposited.
I would advise everyone to be cautious when transferring large sums of money with Wise. They are not capable of executing a secure money transfer!
No, I don't recommendDecember 8th, 2024
Shengjie Yin
good and perfect
Yes, I recommendDecember 2nd, 2024
Tristan
Beware: Wise's Unethical Policies and Unresponsive Support Cost My Business
I am sharing my experience with Wise to warn fellow business owners about the serious risks and unacceptable practices you may encounter if you choose to use their services.
My business, is a legally registered travel agency in the UK, and I relied on Wise to manage payments for my photography and cultural tours, primarily in South America. Things took a turn for the worse when Wise froze my account and accused my business of violating their Acceptable Use Policy, citing my once-a-year humanitarian trip to Cuba.
Despite explaining multiple times that:
No Cuba-related transactions were ever processed through Wise (I use a separate European bank for this purpose),
My tours comply with the “Support for Cuban People” category authorized by OFAC, designed to help Cuban citizens outside state control,
Wise completely ignored the facts. Their customer support team responded with automated messages, refused to engage in any meaningful dialogue, and even lied, claiming they didn't monitor my emails—despite clear evidence to the contrary. After days of chasing them and providing thorough documentation, they chose to close my account without justification.
The Consequences:
Wise left my business in chaos, disrupting essential transactions and client arrangements.
Their rigid policies align with sanctions widely condemned by the global community, and in doing so, they indirectly support humanitarian suffering.
The Bottom Line:
Wise is unreliable, unresponsive, and unethical. If your business has any complexity or humanitarian focus, beware: Wise will shut you down without notice or explanation, and customer support will abandon you. Their actions have serious real-world consequences.
Avoid Wise if you value your business stability or require ethical and accountable financial services. There are far better alternatives out there that won’t put your livelihood at risk Beware: Wise's Unethical Policies and Unresponsive Support Cost My Business
No, I don't recommendNovember 14th, 2024
Anonymous
I have been a customer for a few years. Yes I love the instant deposits as I make around $1K. However as many non US entities Wise uses a bank out of New York. Therefore the TRANSFER and DEPOSIT from an account transfer can take 4 to 6 days. What this means is that you will not able to make another ACH transfer during this time. This is frustrating if you have to make a follow up transfer in a few days. All in all don't plan to make more than 4 transfer in a month because it may not fo through, Not sure if other transfer companies operate the same way but I am about to find out as I will try Revolute. Bottom linw will require you to use ANOTHER payment method like credit card or some other method. Understand this: YOU MAY HAVE THE MONEY IN YOUR ACCOUNT but they WILL NOT TRY TO VERIFY IT WITHIN THE THE PERIOD IT WILL TAKE THEM TO DEPOSIT IT IN YOUR ACCOUNT. To add insult to injury I called in and the agent siad that they can see that they got paid but the computer takes time to update/reconcille I guess! It is a slow system!
I'm not sureNovember 7th, 2024
Anonymous
There is a lot of advice on RECEIVING INHERITANCE in the UK from overseas but nothing on the rules for SENDING money gifts to grandchildren living OVERSEAS and the rules on Inheritance Tax in that case.
I'm not sureOctober 29th, 2024
Anonymous
The service is decent, nothing more. I have had security issues that are not quickly resolved. Call center personnel are average. The app is not, in general, user friendly. You should definitely do research on a variety of service providers before making a choice. Do not take the reviews at face value. I chose Wise based on positive reviews but now regret not doing more research on other companies.
I'm not sureOctober 20th, 2024
Anonymous
So far so good
I'm not sureOctober 14th, 2024
Daniel
I checked to see if Wise even sends money to Colombia. Colombia is not even in their list of countries. Why is it even advertising for Colombia?
I'm not sureOctober 10th, 2024
Bill Sanders
I have used Wise for several years. They once rejected a large transfer because it was to a coal company. Apparently, they are a woke company! But they refused to tell me why. More recently, they required verification of my identity using a smart phone. I am 69 and never owned a cell phone because I don't need one. But they forced me to buy one, which I did last week. Getting the phone updates ate up all my data, so i got 1 GB more. I took 12 different pics of my passport and another 12 of my face for them. They rejected them - and are holding up my transfer. Now my phone ate up that gig of data and I must buy another gig (thru Tracfone) just to use the phone. What a hassle. This is not a photo studio! They know who i am already.
Note: This comment has been edited by the MoneyTransfers.com team to align with our content guidelines.
No, I don't recommendOctober 3rd, 2024
Ziggy Meilus
It used to be always instant, now it may come right away or it can take 5 even 7 days to get the money.
I'm not sureAugust 30th, 2024
Anonymous
i've heard of people having issues with accounts being locked/restricted, but i think that was mostly for business accounts, maybe they were locked for good reason. for me, i've had no issue with my account though i've only used it for small transfers and not very often, over the past 5+ years
Yes, I recommendJuly 26th, 2024
Showing 10 out of 25 reviewsShowing 25 out of 25 reviews
FAQs
What is better than Wise?
Wise is an industry-leading money transfer company, but Currencies Direct is better than Wise if you are looking for business transfers. They offer customizable money transfer options such as forward contracts and stop contracts. This enables businesses to optimize the FX rates when transferring funds internationally.
Wise does not offer one of the biggest networks of countries for sending money. A better service for worldwide coverage is WorldRemit, which offers over 150 countries in its network. Therefore, you are not limited when your international money transfer needs to change over time.
Can you use more than one money transfer company?
You are allowed to use more than one money transfer company. This is beneficial because you can access better deals by comparing the rates of various companies for the transfer you want to make. For example, one company might be better for domestic transfers, while another offers the best currency conversion rates for international ones. Therefore, you get the best of both worlds.
Also, we recommend that you explore the user interfaces and customer service teams of several money transfer companies to find the best one. You can start by checking out TorFX, WorldRemit, VertoFX, and Xe.
Which is cheaper for international transfers, Wise or Western Union?
The fees that you pay vary for both Wise and Western Union. It depends on the payment method, payout method, countries between which money is sent, and the amount. However, we found that Wise edges out as the cheaper international money transfer company.
Additionally, Wise is transparent about the fees that they charge. This ensures that you can readily compare with other money transfer companies. Also, Wise matches the mid-market rate for many currency pairs so that you will get the best rate for currency conversions.
Do money transfer companies offer different deals?
One of its strengths is the choice of deals across the money transfer industry. This allows you to find the deal that provides the best value for the money transfer you are looking to make. In addition, some do not charge a fee, which includes options like Wise, TorFX, and Currencies Direct. In comparison, others do not charge a markup percentage for currency conversions. This means you will save significant sums of money over time.
Additionally, you can find promotional codes that offer free transfers for new customers. Finally, look for referral programs that reward customers who get their friends and family to join the money transfer company.
Who is safer, Wise or Western Union?
Wise is arguably the safer money transfer platform because they have an excellent reputation and are transparent. Therefore, customers know what to expect when using the money transfer company. In addition, you can take advantage of their 2-factor authentication, which is required when performing account-sensitive actions.
Western Union is no slouch in the security department either. They have an automated system for flagging questionable transfers for further inspection. However, scammers notoriously use the platform, which means it is not the safest money transfer provider.
How to use Wise for money transfers?
Start the money transfer process by creating a Wise account, which takes just a few minutes. Then, you can complete the registration process via a browser using a desktop device or the Wise mobile app on a smartphone. The app can be downloaded on the Google Play and App Store platforms.
Once you have an account, you need to navigate to the send money section of the user interface. You will be asked to choose the transfer method and the recipient details. You will readily see each transfer method's transfer time, FX rates, and fees. We recommend that you use balance transfers since they are processed instantly in most cases.
Once you are happy with the information's accuracy, confirm the transaction. You will be updated on the transaction progress via a notification system. The recipient will also receive notification messages, so there is no need to communicate manually.
Yasmin is an accomplished Content Writer and Editor for MoneyTransfers.com, who specializes specializing in personal finance, student life, and business topics. Her reputation as a financial authority is acknowledged by top publications such as BBC Worklife, Cash Matters, Yahoo Finance, and CEO Blog Nation, which have featured her as a trusted source. She is also the founder of The Wallet Moth, a popular blog focusing on money and lifestyle.
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