Venmo
7.6#20 in money transfer appsFree planFree planAndroidiOSWeb
VisitVenmo vs Wise
What both publish
| Fact | Venmo | Wise |
|---|---|---|
| Exchange-rate model | markup | mid_market |
| Founded | 2009 | 2011 |
| Free plan | Yes | Yes |
| Headquarters | San Jose, California, United States | London, United Kingdom |
| Mobile platforms | both | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Scheduled transfers | Yes | Yes |
| Security | Venmo says it encrypts transactions and account information, monitors account activity for unauthorized transactions, and supports multifactor authentication and app PINs. | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. |
| Support | Venmo directs users to its Help Center for customer support and lists automated and live-agent customer service as having no fee. | Wise says its customer support is available by email, live chat, and phone, 24/7 in English and in 14 other languages. |
| Transfer speed | instant | 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. |
| Upfront fee display | Yes | Yes |
Venmo plans
- Personal Venmo accountFree
- Venmo business profileFree
Wise plans
- Wise personal account and transfersFree
Pick Venmo if…
Venmo suits people who want to send money to friends, split group expenses, or pay businesses. Its business profiles are aimed at sole proprietors, casual sellers, and small businesses that want to separate business and personal transactions.
Pick Wise if…
Wise suits people sending money to overseas bank accounts or receiving payments from abroad. It may also suit users who want to track or schedule transfers and receive exchange-rate alerts.