Wise is generally better due to its transparent mid-market exchange rates and support for a higher number of countries. However, WorldRemit excels in transfer speed and receiving options, making it a strong choice for users prioritizing speed and diverse receiving methods. WorldRemit also has 24/7 customer support, which is a plus.
| Attribute | WorldRemit | Wise |
|---|---|---|
| Transfer Speed (average delivery time) | Transfers can arrive within minutes. 95% of money transfers are processed within minutes. Actual time can vary. Cash pickup is available instantly. Mobile Money transfers are typically within minutes. Airtime top-ups are also usually within minutes. Bank transfers can be instant to 1 day for most, but 2-3 days for certain destinations. | Approximately 45% of transfers are instant, and 80% arrive within 24 hours. Transfers via debit or credit card can be very quick, while bank transfers might take a few seconds to two business days, depending on the destination. |
| Transfer Fees (transparent fee structure) | Upfront fee structure. Fees and exchange rates are shown upfront. No hidden fees. Total cost depends on origin, destination, currency, payment method, and receive method. | Wise uses a transparent fee structure, displaying fees before you confirm the transfer. Fees usually consist of a fixed fee (e.g., $1 - $3 for major currencies) and a variable fee (around 0.5% of the transfer value for major currencies). The fees depend on the amount, currencies, and payment method. |
| Exchange Rates (vs. mid-market rate) | Adds a markup to the exchange rates. The exchange rate is displayed upfront. | Wise offers the mid-market exchange rate, without hidden markups. This ensures users get fair and competitive exchange rates. |
| Supported Countries (sending and receiving) | Sends to over 130 countries worldwide. | Wise supports sending money to over 160 countries. |
| Payment Methods (options for sending money) | Debit card, Credit card, Bank transfer/Bank deposit, Pre-paid cards, Apple Pay, Mobile Money, Poli, Interac, iDEAL, Klarna (Sofort), Trustly. | Options include bank transfer, debit card, credit card, ACH transfer, Apple Pay, and Google Pay. |
| Receiving Methods (options for receiving money) | Bank deposit, Cash pickup, Mobile money, Airtime top up, Home delivery (limited regions). | Typically, recipients receive money directly into their bank account. Wise also offers the option to send money to the recipient's email address. |
| Transfer Limits (minimum and maximum amounts) | Limits vary depending on the sending country, payment method, and receiving country. From the US, if paying with a Credit Card, Debit Card or Pre-paid Cards, you can send up to USD 5,000 in a single transaction, and USD 9,000 in a 24 hour period. The corresponding limits for Apple Pay are USD 300 per transaction and USD 9,000 per day. If paying with a Bank Account Transfer, you can send up to GBP 50,000 in a single transaction as well as in a 24 hour period. | Limits vary based on currency, payment method, and country. Personal accounts can send up to $1 million per transfer via ACH. If you hold a USD balance in your Wise Account you can use it to send payments worth up to 6 million USD. For local transfers, a cap of $1 million is in place, and for SWIFT transfers, it's $1.6 million. The minimum transfer amount is generally $100. |
| Customer Support (availability and responsiveness) | Offers customer support via email, phone, and live chat. You can talk to them 24/7. | Customer support is available through chat, email, and phone. Some users have reported slow response times to customer service issues. |
| Mobile App (user-friendliness and features) | Great mobile app. The app allows users to send money online and track payments. | Wise offers a user-friendly mobile app for managing accounts, initiating transactions, and monitoring spending. Features include currency exchange alerts, the ability to generate virtual cards, and integration with third-party financial apps. The Wise app has an average rating of 4.6/5 on both the App Store and Google Play Store. |
| Security Features (encryption, fraud protection) | Licensed by government regulators, uses industry-standard encryption, adheres to anti-money laundering and anti-fraud standards, requires identity document uploads and a two-step verification process, has a dedicated team that monitors transaction activities, uses 3D Secure technology for card payments. | Wise is regulated by financial authorities and uses bank-level encryption to protect data. Features include two-factor authentication, dedicated anti-fraud measures, and transaction monitoring. |
| Currency Options (number of currencies supported) | Supports 70+ currencies. | Wise supports holding balances in 40+ currencies. It allows sending money in 40+ currencies. |
| User Reviews & Ratings (overall customer satisfaction) | Has a 4.1-star rating on Trustpilot with over 77,512 reviews. | Trustpilot rating of 4.3 out of 5; Wise app has an average rating of 4.6/5 on both the App Store and Google Play Store |