Wave
5.8#81 in money transfer appsAndroidiOS
VisitWave vs Wise
What both publish
| Fact | Wave | Wise |
|---|---|---|
| Founded | 2017 | 2011 |
| Identity verification | The Gambia terms say customers must provide valid identity documents and Wave agent assistance is used for account identity verification. | Photo ID may be required for some currencies or large transfers. |
| Mobile platforms | both | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Regulatory status | Wave Digital Finance says it received an electronic money issuer license from BCEAO on April 14, 2022. | Wise says it is licensed in most states and regulated by authorities worldwide. |
| 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. |
Wave plans
- Wave mobile moneyPriced on request
Wise plans
- Wise personal account and transfersFree
Pick Wave if…
You want what its maker publishes above — check its page for the details.
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.