Wise
8.2#4 in money transfer appsFree planFree planAndroidiOSWeb
VisitWise vs Xe Money Transfer
Xe Money Transfer
7.7#13 in money transfer appsFree planFree planAndroidiOSWeb
VisitWhat both publish
| Fact | Wise | Xe Money Transfer |
|---|---|---|
| Exchange-rate model | mid_market | markup |
| Founded | 2011 | 1993 |
| Free plan | Yes | Yes |
| Headquarters | London, United Kingdom | Newmarket, Ontario, Canada |
| Identity verification | Photo ID may be required for some currencies or large transfers. | Xe may require identity documents, and the required documents vary by country. |
| Mobile platforms | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. | both |
| Rate alerts | The app can send exchange-rate alerts so users can track the mid-market rate. | The app can notify users when a chosen exchange rate is reached. |
| Scheduled transfers | Yes | Yes |
| Security | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. | Xe says it uses encryption, multi-factor authentication, identity verification, and fraud monitoring to protect transfers. |
| Support | Wise says its customer support is available by email, live chat, and phone, 24/7 in English and in 14 other languages. | Customers can contact support through the app, and Xe’s security page says its support team is available 24/5. |
| Transfer speed | On many popular routes, transfers can arrive within one day, the same day, or instantly. | Transfer timing depends on currency, destination, and payment method; Xe says recipients typically receive transfers within 1 to 3 business days after Xe receives payment. |
| Transfer tracking | The app shows the list and current status of transfers users have set up. | Customers can track transfer status and timelines in the app or online account and can ask Xe’s virtual assistant Lexi for a status update. |
Wise plans
- Wise personal account and transfersFree
Xe Money Transfer plans
- Xe Money TransferFree
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.
Pick Xe Money Transfer if…
Xe suits individuals and businesses that need international transfers across many destinations and currencies, with web and mobile access. It is useful for people who want tracking, rate alerts, scheduled transfers, and several payment or receiving methods where available.