Money Transfer
Featured

Wise

: 2024 Review

Best for Global Money Transfer
Price: 
Starts at 0.43% per transfer
Countries:
Global
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Review

Wise is one of my preferred online money transfer services due to its low and transparent fees, broad network (50+ currencies), and simple UX.

‍

Pros

  • Transparent and low-cost fees
  • Fast transfers in many currencies
  • Multi-currency accounts for managing funds
  • User-friendly interface and mobile app
  • Business account offers bulk payments and integrates

‍

Cons

  • Not ideal for large business transactions
  • No cash pay out or pay in option
  • No branch network
  • Customer support is limited

‍

‍

Key Benefits and Features

  • Transfers to 160 countries
  • Available for personal and business
  • Real exchange rate with no markup
  • Multi-currency account for easy management of funds in different currencies
  • Integration with various banking and financial platformsFast or even instant global payments
  • Earn 4.33% APY with their interest feature (USD balance account)

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Fees

  • Monthly fee: $0
  • Annual fees: $0
  • Transactional fees: vary by currency, from 0.43%
  • Exchange rates: mid-market exchange rate
  • ATM fees: no fees for withdrawals over $100 USD per month per account, $1.50 USD per withdrawal thereafter'
  • Account funding transactions: 2%
  • Getting the Wise debit card: $9 USD
  • Converting money: fee varies by currency, from 0.43%
  • Holding money in your account: free

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Sources: Transumo, Exiap

Dexter Zhuang
Dexter Zhuang

Dexter is the founder of Money Abroad, an online education platform that helps people live on their own terms. He writes about money and portfolio careers. Starting his career in San Francisco, he has lived and worked across Southeast Asia and Latin America for the past 6 years. He has 10+ years of experience building products and teams at public companies (Dropbox) and scaling startups (Xendit). His work has been featured in global outlets like Business Insider, CBS, and Tech in Asia. He graduated from Dartmouth College.

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