The world is more connected than ever, making international money transfers common. Xe and Wise are two top choices. They offer different benefits and services for various needs. This review will compare their costs, speed, coverage, and user experience.
Xe started in 2002 and is known for free transfers to 127+ countries, moving over US$250 billion. Wise, on the other hand, handles over £4 billion monthly, serving 160+ countries with low fees and real-time rates. We’ll look at Wise vs Xe fees and speed to understand their strengths.
Overview of Xe and Wise Money Transfer Services
Xe and Wise are top names in money transfer services. They are known for reaching people all over the world and focusing on the user. By comparing them, people can find the best way to send money internationally.
Xe International Transfers: Xe lets you send money to over 200 countries with more than 100 currencies. You can use bank deposits, mobile wallets, or cash at over 500,000 agents worldwide. Xe also offers secure transfers, making it reliable for users. On Trustpilot, Xe has a 4.3-star rating from over 70,000 reviews, showing how much users trust and like it.
Wise Transaction Fees: Wise, or TransferWise, has clear fees based on the transfer type and size. It uses the mid-market exchange rate without any extra charges. Wise’s fees start at 0.43%, making it a good choice for saving money. With over 213,000 reviews on Trustpilot, Wise has a 4.3-star rating, showing it’s widely approved. Wise offers low-cost transfers to more than 70 countries and makes over 50% of payments instant.
Both Xe and Wise aim to provide safe and quick money transfers. They use top security to protect user data and keep transactions safe. Looking at their unique features, fees, and ratings can help figure out which one is best for your needs.
To learn more about the best international money transfer services for businesses, check out this useful guide.
| Xe | Wise | |
|---|---|---|
| Countries Supported | 200+ | 160+ |
| Currencies Supported | 100+ | 40+ |
| Transfer Time | 1-5 days | Instant to 24 hours |
| Trustpilot Rating | 4.3 stars | 4.3 stars |
| Exchange Rate | Includes Markup | Mid-Market Rate |
| Transfer Fees | Variable | Starts from 0.43% |
| Payment Methods | Bank Deposit, Mobile Wallet, Cash Collection | EFT, Bill Payment, Debit/Credit Card |
Xe vs Wise: Cost, Speed and Limitations
When comparing Xe and Wise, it’s key to look at costs and how fast they are. Xe doesn’t charge fees on many routes, which is good for those who want to save money. Wise, on the other hand, has different fees for different types of transfers. This makes it important to compare costs between Wise and Xe to find the best deal.
Speed is also a big factor. Wise is usually faster, finishing transactions in minutes. This is a big plus for those who need their money quickly. Xe, while slower, takes 1-4 days for some transfers, like direct deposits.
Looking at what each service can do, Wise lets you send up to $1.2 million, more than Xe’s $535,000. Wise also doesn’t have a minimum amount you can send, making it more flexible. Xe, on the other hand, offers cash pickups at over 500,000 spots worldwide and supports more than 130 currencies.
Wise also has a special account for managing different currencies, a feature soon to be offered by Xe. This shows how Wise is ahead in some areas, but Xe is catching up. These differences are important when looking at Wise’s limitations compared to its competitors.
| Aspect | Wise | Xe |
|---|---|---|
| Fee Structure | Varies by transfer type (Fast, Easy, Low-Cost) | Fee-free transfers on multiple routes |
| Transfer Speed | Often within minutes | 1-4 days (1-3 for direct deposit) |
| Maximum Transfer Limit | $1.2 million | $535,000 |
| Minimum Transfer Limit | None | Varies by country |
| Supported Currencies | Various | 130+ currencies |
| Additional Features | Multi-currency account, transparent pricing | Cash pickup, mobile wallet, more to come |
Customer Experience and Ease of Use
Both Xe and Wise are known for their easy-to-use platforms and good customer feedback. Xe’s web interface is strong, letting users send money to over 130 countries easily. But, Xe’s mobile app isn’t as good as Wise’s.
Wise, started in 2011 in London, is famous for its easy mobile app. Users love how simple it is to use, with quick transactions and updates. It also shows all your transfer history clearly.
Wise is praised for being fast and affordable. Most transfers are done in minutes, but some take up to three days. Xe is also reliable, but its web is better than its app. This shows how important a good app is today.
In short, both Xe and Wise are great for international money transfers. But Wise stands out for its easy app and good reviews. For more info and other options, check out this guide.
