8 Best Wise Alternatives – Which Wise Competitors Should You Try?

Wise started under the name TransferWise in 2011. The organization is headquartered in the United Kingdom. Wise has many benefits, but it is not always the best fit for everybody. In this post, I will discuss the best Wise alternatives you can use.

Wise account holders can receive, transfer and spend money in many countries and currencies around the world. Wise cards allow you to pay for purchases at physical retail locations and online stores around the globe.

Wise concentrates on providing money transfer services at reasonable rates. Clients can send money to and from bank accounts in multiple nations. Money transfers are inexpensive, and Wise is adding new options regularly.

 

Wise business account review.

 

The company’s minimal fees and transparent services have helped it become one of the world’s most used money transfer businesses. The borderless account function provides clients with bank details that act just like regular bank accounts.

Wise multi-currency account has the following benefits:

  • Account balance in 56 different currencies.
  • Minimal conversion fees.
  • Account holders can have a bank account with details in United States dollars, Australian dollars, British pounds, Canadian dollars, Euro, Hungarian forint, Romanian leu, New Zealand dollars, Singapore dollars, and Turkish lira.
  • Direct debits can be set in Euros, British pounds, Australian dollars, and U.S. dollars.
  • Wise’s debit card is currently available to residents of the United States, Europe, Singapore, New Zealand, and Australia.
  • Funds can be spent in any international currency using the Wise card. Their transaction fees are very low.

 

Wise Alternatives

More and more individuals and businesses need good money transfer service. The time of Western Union and other comparable services are no longer the only money transfer options. New companies with their own unique benefits and fee structures have surfaced after PayPal’s success. Wise is one of those new companies.

blank comparison
  • Name
  • Price for opening personal account
  • Personal account bank details fee
  • Price for opening business account
  • Business account bank details fee
  • Countries where you can open account
  • Countries where card is available
  • Available currencies for convert and hold
  • Receive bank details (currencies with account details)
  • Credit card payments fee
  • Currency exchange fee
  • Withdrawing money from ATM fee
  • ATM limits
  • Annual fee for holding EUR balance
  • 3D Secure payments
  • Card limits
  • Virtual cards
  • Type of card
  • Card contactless payments
  • Fee for card payments
  • Number of physical cards you can have
  • Number of virtual cards you can have
  • Disposable virtual cards
  • Integration with accounting software
  • Compatible with Apple Pay and Google Pay
  • Cryptocurrencies trading
  • Insurance options
  • Recurring payments
  • Direct debit
  • Loans
  • Lounge pass
  • Group bills
  • Stock trading
  • Commodities trading
  • Support
Wise vs Revolut comparison.
  • WISE (Formerly TransferWise)
  • Free
  • Free
  • Free
  • One-time fee between 16–21 GBP (or equivalent in your currency).
  • 230
  • UK, Switzerland, Australia, New Zealand, Singapore, Japan, most of the EEA, and US.
  • 56
  • USD, GBP, EUR, CAD, AUD, NZD, SGD, HUF, RON, TRY
    Polish zloty is usually available, but currently that option is disabled.
  • Free as long as the payment is in a currency that you currently hold.
  • 0.24–3.69%
  • Free up to £200 (or currency equivalent) and then 1.75% on anything over 200 GBP/EUR. This fees can be different for other countries.
  • Daily limit is 1500 GBP (or currency equivalent) but you can increase it.
  • 0.4% if your balance is 15,000 EUR for persosnal account and 70,000 EUR for business.
    Holding any amount in any other currency remains free.
  • Yes
  • There are different limits for cardholders in different countries. But most can be increased via app.
  • Yes
  • Mastercard. Visa coming soon
  • Yes
  • No
  • 1
  • 3
  • Not available
  • FreeAgent, QuickBooks Xero, etc.
  • Yes
  • No
  • No
  • Yes
  • Yes
  • No
  • No
  • No
  • No
  • No
  • Email, live chat, phone

Wise is currently used by more than 16 million people worldwide. It is an inexpensive resource for transferring funds quickly. However, it may not be ideal for everyone, so if you are looking for Wise alternatives, this is the article for you.

I will discuss the best Wise competitors. There will be enough information to help you select the company that best meets your needs.

For more info about Wise, be sure to check my Wise review and Wise debit card review.

 

Revolut

Revolut is a company based in the United Kingdom that initially launched in 2015. The organization is a private business that operates much like Wise. People can use their services to transfer funds to other Revolut account holders and bank accounts.

Revolut cards can be used to purchase services and goods. Account holders can also access virtual cards and cryptocurrency trading.

Revolut’s target audience is international business people and active travelers. Revolut comes with multi-currency accounts that allow customers to exchange and transfer funds at a low cost and in a short amount of time.

 

Revolut bank review pros and cons.

 

The Revolut card can be used to withdraw funds at ATMs and pay for purchases either online or at physical stores. All account features and funds can be managed via the Revolut app.

Clients will receive either a MasterCard or Visa prepaid debit card after they’ve signed up for a Revolut account. Cards can be used in over 120 nations for account charge-offs and withdrawing funds. Direct transfers can be accomplished in 26 currencies by using the Revolut app.

Revolut is a site similar to Wise, even when it comes to bank account details. Revolut provides customers with bank account numbers and sort codes, which is very similar to standard bank accounts.

Clients can use that data to add or send money. Google Pay, Apple Pay, traditional credit and debit cards, and bank transfers are currently accepted as funding sources for Revolut accounts.

 

Revolut pros and cons.

 

At this time, Revolut accounts are only available to people living in the European Economic Area (EEA), Switzerland, Singapore, Japan, Canada, and the US. Revolut Business accounts can be opened by companies in Switzerland and the EEA with a physical presence and are registered to conduct business in those areas.

For more info about Revolut, be sure to check my Revolut review, Revolut card pros and cons, Revolut business account reviewRevolut competitors, and Revolut WooCommerce integration.

 

REVOLUT vs WISE

blank comparison
  • Name
  • Price for opening personal account
  • Personal account bank details fee
  • Price for opening business account
  • Business account bank details fee
  • Countries where you can open account
  • Countries where card is available
  • Available currencies for convert and hold
  • Receive bank details (currencies with account details)
  • Credit card payments fee
  • Currency exchange fee
  • Withdrawing money from ATM fee
  • ATM limits
  • Annual fee for holding EUR balance
  • 3D Secure payments
  • Card limits
  • Virtual cards
  • Type of card
  • Card contactless payments
  • Fee for card payments
  • Number of physical cards you can have
  • Number of virtual cards you can have
  • Disposable virtual cards
  • Integration with accounting software
  • Compatible with Apple Pay and Google Pay
  • Cryptocurrencies trading
  • Insurance options
  • Recurring payments
  • Direct debit
  • Loans
  • Lounge pass
  • Group bills
  • Stock trading
  • Commodities trading
  • Support
Wise vs Revolut comparison.
  • WISE (Formerly TransferWise)
  • Free
  • Free
  • Free
  • One-time fee between 16–21 GBP (or equivalent in your currency).
  • 230
  • UK, Switzerland, Australia, New Zealand, Singapore, Japan, most of the EEA, and US.
  • 56
  • USD, GBP, EUR, CAD, AUD, NZD, SGD, HUF, RON, TRY
    Polish zloty is usually available, but currently that option is disabled.
  • Free as long as the payment is in a currency that you currently hold.
  • 0.24–3.69%
  • Free up to £200 (or currency equivalent) and then 1.75% on anything over 200 GBP/EUR. This fees can be different for other countries.
  • Daily limit is 1500 GBP (or currency equivalent) but you can increase it.
  • 0.4% if your balance is 15,000 EUR for persosnal account and 70,000 EUR for business.
    Holding any amount in any other currency remains free.
  • Yes
  • There are different limits for cardholders in different countries. But most can be increased via app.
  • Coming soon
  • Mastercard. Visa coming soon
  • Yes
  • No
  • 1
  • 3
  • Yes
  • FreeAgent, QuickBooks Xero, etc.
  • Yes
  • No
  • No
  • Yes
  • Yes
  • No
  • No
  • No
  • No
  • No
  • Email, live chat, phone
Revolut or TransferWise differences.
  • REVOLUT
  • Free
    There are also Premium (£6.99 per month) or Metal (£12.99 per month) account options.
  • Free
  • Free
  • Free
  • European Economic Area, Australia, Canada, Singapore, Switzerland, Japan and the United States.
  • European Economic Area, Australia, Canada, Singapore, Switzerland, Japan and the United States.
    Revolut Business only available for European Economic Area and Switzerland.
  • 31
    AED, AUD, BGN, CHF, CAD, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, ISK, JPY, MAD, MXN, NOK, NZD, PLN, QAR, RON, RSD, RUB, SAR, SEK, SGD, THB, TRY, USD, ZAR.3
  • AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, QAR, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR.
    28
  • Free as long as the payment is in a currency that you currently hold.
    The company applies the mid-market rate to convert the currencies if you don’t hold enough currency into your account.
  • No cost up to 1000 GBP (or currency equivalent) per month and anything over is charged 0.5% + for the weekends 0.5% markup is applied
  • Free up to £200 (or currency equivalent), then a 2% fee will apply.
  • Cash withdrawals from ATMs are limited to £3,000 or currency equivalent per 24 hours.
  • No
  • Yes
  • ATM withdrawals are limited to £3,000 or equivalent per day for all cards linked to the account and £100,000 or equivalent spending limit per month per card.
  • Yes
  • Mastercard and Visa
  • Yes
  • No
  • 3
  • 5
  • Yes
  • FreeAgent, QuickBooks Xero, etc.
  • Yes.
  • Yes
  • Yes
  • Yes
  • Yes
  • Only for people in UK
  • Yes
  • Yes
  • Yes
  • Yes
  • Chat, phone

For more detailed Revolut vs. Wise comparison you can check my post where I discuss differences between them.

 

Payoneer

Payoneer was launched in 2005 as a financial services organization. The company is a MasterCard Service Provider for many countries across the globe. Payoneer is a great site like Wise, which can be used for online money transfers and digital payments and gives access to working capital to a wide variety of international businesses.

Assisting companies in being able to receive and make payments to one another is Payoneer’s main focus. International and domestic businesses can use their services. Payoneer doesn’t provide a payment gateway, so you can’t use it as a payment method on your online store.

Payoneer strength is in providing a trusted platform that can be used to receive and send money. The company’s services are currently being used in more than 200 nations and over 150 different currencies. Account holders can withdraw money with a debit card at ATM.

 

Payoneer card review.

 

Payoneer clients can conduct transactions with their prepaid MasterCards. Unfortunately, the company doesn’t currently offer any Visa options. These cards can be used for e-commerce and other transactions. Payments aren’t directly deposited into your online account. Instead, they are submitted to Payoneer MasterCard.

Clients can receive funds quickly. Payoneer cards can be used in any country. Customers have a daily withdrawal limit of $2,500. A foreign transaction fee of around 1% may also be added to your transaction.

If you ever need help or additional information, you can always contact Payoneer’s dedicated customer support staff. Payoneer site has the knowledge base and guides how to use the services. Support can be reached at any of their international offices by email, telephone, or live chat.

You can withdraw money from your account at ATMs and use the money in your Payoneer account to purchase items at physical stores and online retailers. The card is available for a $29.95 yearly fee.

Payoneer even provides bank account information. You can receive local bank transfers or Mexico, Canada, United States, Australia, Japan, the EU, and the UK. It’s similar to receiving money by regular bank transfer because Payoneer accounts operate much like a traditional local bank account.

 

Is Payoneer safe to use platform?
You can get local bank account details in several currencies just like having bank account in physical bank.

 

Payoneer has mobile apps for iOS and Android devices. You can manage funds in your account from the app, but the app can’t be used to pay for items with the funds from your Payoneer account.

For more info about Payoneer, check the Payoneer review and Payoneer vs. PayPal comparison.

 

N26

N26 takes a new approach to traditional banking. They are a full-service bank from Europe that only operates online with all services, safety, regulation, and features that people have come to expect from brick and mortar banks.

Clients can transfer funds and withdraw money at ATMs using the MasterCard that N26 provides. These cards can be topped up at any time. They can help customers save money and simplify everyday activities for busy international travelers.

N26 is an ideal option for busy people who regularly conduct business in different currencies or travel. It gets rid of complicated paperwork and confusing costs.

 

N26 banking features.

 

N26 is available for residents of Germany, the USA, Ireland, Austria, Spain, France, Italy, Belgium, Netherlands, Finland, Luxembourg, Portugal, Slovenia, Greece, Estonia, Slovakia, Poland, Denmark, Sweden, Liechtenstein, Iceland, and Norway.

You get 5 free withdrawals per month with N26. After that, you pay 2€ per withdrawal. There’s no charge to open a standard N26 account. Standard account holders can also receive a Maestro card and a MasterCard debit card for free.

Travelers can really benefit from using the N26 MasterCard. They won’t have any currency conversion charges or transaction fees to worry about. The real exchange rate is always used. The only time you’ll be charged a fee is if you’re withdrawing funds in currencies that are different from the ones you have in your N26 account.

Customers can also get a travel card, which provides free travel insurance and generally has fewer fees.

N26’s app is used to handle all transactions. Clients receive convenient push notifications for every transaction. The app allows you to block your card and quickly order a replacement if your original card is lost or stolen. Overall, N26 is a great Wise alternative that you can use.

 

Monese

Monese is both a card that uses smartphone technology and a digital banking application. It can make for a better banking experience. Monese is an intriguing Wise alternative for those who want to establish an account in another nation and for regular travelers. Unlike standard banks, customers can make ATM withdrawals and card payments in other countries without fees.

The company’s debit card works much like any other traditional debit card. Monese debit cards can be used for contactless payments, ATM withdrawals around the globe, and to buy items both in-store and online. You can use their app whenever you want to see bank statements, change your personal data or top up your card.

 

Monese digital banking features.

 

Your phone can be used to make a contactless payment because the app fully supports Apple Pay and Google Pay. Monese doesn’t set its own fees. It uses the interbank rate, which makes for less expensive international money transfers and foreign currency exchanges.

There are several ways that Monese account holders can add money to their accounts. United Kingdom residents can receive UK bank account details, thanks to the sort code and account number.

Transfers can be sent as direct payments and can be made from both individuals and businesses. UK Monese accounts with European IBAN are provided for clients who live outside of the United Kingdom.

 

ZEN.com

ZEN is a Fintech business similar to Wise. They have partnered with MasterCard to offer several digital finance products. Their services can make cash flow and financial information management easier for entrepreneurs, freelancers, and clients. ZEN’s contactless payment cards allow people to pay for purchases online and at physical stores safely and securely.

Digital-only and plastic MasterCards are available to ZEN customers. These cards can be added to Google Pay or Apple Pay mobile wallet because of MasterCard’s tokenization technology. ZEN options make it easier and safer for customers to pay in-store and online for goods and services.

 

ZEN physical and virtual card.

 

A one-year manufacturer’s warranty and cashback are some of the exclusive perks that ZEN cardholders can enjoy. Clients can use their multi-currency accounts to pay for items without any commission fees in 30 different currencies.

Cardholders won’t have to worry if an appliance will start having problems after its warranty has already expired. Product warranties are extended for another year on purchases that were made with a ZEN MasterCard.

Chargebacks are another thing that ZEN business and individual customers shouldn’t have to concern themselves with. The ZEN care package allows account holders to contact ZEN directly to resolve those issues for them.

Instant payments flow allows entrepreneurs that all money transfers via ZEN will be completed within a few hours from when the initial transaction began. Their mobile app is used to manage all services. It has a very intuitive interface and a simple design. Their customer support staff are always available.

Consumers can easily manage their ZEN accounts, and the ZEN MasterCard simplifies purchasing goods and services. Accounts have their own IBAN and operate much like a traditional bank account. Store up to 30 currencies and transfer them easily.

 

ZEN bank account.

 

ZEN is available to residents of the European Economic Area. The company has offices located in Lithuania, the Netherlands, and Poland. The central bank of Lithuania issued ZEN’s money license, which was approved by regulators in 31 nations and the European Banking Authority.

Customer support services are currently offered in Polish, French, Spanish, German, and English. ZEN plans on adding customer service in more languages in the future.

 

Nuri (Formerly Bitwala)

Nuri offers bank services and crypto trading. They provide a full range of banking services with affordable fees and dedicated customer service. As a fully serviced mobile bank account, Nuri enables customers to manage their day-to-day finances and offer investments in cryptocurrencies.

 

Nuri bank account features.

 

Nuri clients can use their own bank account to sell and purchase Bitcoin. This saves customers time and money over other standard bitcoin exchanges. They operate much like any bank accounts that allow you to hold more than one kind of currency at a time.

When Bitcoin is purchased, your account will automatically deposit the necessary Euro amount. You can also use Euros to buy Bitcoin. Both kinds of transactions only take a few moments to complete.

 

Nuri cryptocurrency bank.

 

The company also offers a German debit card with MasterCard because of its Solarisbank partnership. The card has contactless payment and other helpful functions. The MasterCard can also be used to withdraw money without being charged any withdrawal fee. Bank account and Visa cards are features that are coming soon.

 

PayPal

Many users trust and use PayPal daily. PayPal introduced a different approach to financial technology and ways that people bank online.

Millions of clients currently use PayPal in over 150 markets around the world. It’s one of the most convenient and flexible payment processing resources. PayPal’s payment processing brand is well known and respected.

Their accounting and CRM platform integrations have allowed many tasks to become fully automated. They also offer MasterCard, and there are no annual fees associated with PayPal’s MasterCard.

 

PayPal Prepaid Mastercard review.
Transfer money from your account at PayPal to your PayPal Prepaid Card so you can shop in store or online, wherever Debit Mastercard is accepted.
PayPal Cash Mastercard rview.
Access funds with a debit card linked directly to your PayPal Cash Plus account.

 

PayPal’s customer base has largely remained loyal due to its effective digital transaction management. PayPal is great, but it might not be the ideal solution for each individual or organization.

PayPal makes things simpler and less of a hassle for clients because a bank account isn’t required to make online transactions. Debit or credit cards can be linked to PayPal accounts if a customer spends the amount in their PayPal account balance.

 

You can hold balance in various currency.

 

Many users have issues with PayPal’s risk department. PayPal’s security measures have been known to restrict accounts from time to time, and accounts can be frozen without warning.

You will spend a fair amount of time in their community forums or at their knowledge forums as PayPal prefers letting customers solve their own issues. They have an impressive amount of information and documentation that can help to fix many problems.

The company does much more than provide a way for people and companies to process online payments. Third-party payment processing is just one of the services that online sellers and other people can take advantage of.

PayPal’s most frequently used service is its online payment method. Credit and bank transfers can be accepted by PayPal Checkout (formerly known as the Express Checkout), Payments Pro and Payments Standard.

PayPal has made many partnerships with popular credit card companies, implemented anti-scamming policies to prevent information theft, and added its own unique payment application.

 

Skrill

Skrill is much more than just a digital payment platform. The company has been in existence for more than two decades. One of its best-known features is the ability to receive and send money.

Clients can also sell and purchase cryptocurrencies, companies can establish merchant accounts, and pre-paid debit cards can be issued to accounts.

 

Skrill card review.

 

Users can use the Skrill Money transform platform to conduct same-day transfers to bank accounts. It also works well for overseas fund transfers. Fund transfers are accepted in up to 40 international currencies, and individuals can open foreign wallet accounts in most nations across the globe.

Sending funds overseas will not incur any transaction charges or fixed fees. This can make Skrill especially appealing to people who tend to make smaller amounts of transfers or are concerned about reducing their overall transaction costs. This is the case for fund transfers using Paysafecash, a bank transfer, or a debit card.

 

Skrill account features.

 

Fees are applied to credit card payments. Skrill will charge a commission fee of up to 4,99% per transaction. The credit card issuer may also charge a foreign transaction fee on those transactions.

Skrill also charges an exchange rate margin, or an “international transfer exchange rate markup,” as they refer to it, on all transfers. This fee is charged no matter what the payment method or currencies are.

It amounts to a minor markup that’s slightly above the mid-market exchange rate. The markup can be as much as 4.99% of your transfer’s total value and is charged whenever your Skrill account is used to convert one currency into another currency.

Skrill’s debit card transfer exchange rate margins are a bit more expensive than transfers made by credit card. If Skrill is not what you need, then be sure to check best Skrill alternatives.

 

Wise Competitors Conclusion

Wise has minimal transfer fees. You can find out just how much your transaction fees will be by using the calculator on their site. Wise will usually charge a fixed fee and a minor percent of the overall amount being transferred. Their charges do vary depending on where you’re sending money.

Wise always uses the base mid-market exchange rate. They use the best possible exchange rate for all transactions.

It can take anywhere from a few seconds to a few business days for transactions to be completed. The payment method, verification requirements, the countries involved in the transfer, and the currencies being sent will affect the transaction length. Most transactions are finalized in two business days or less.

You can use the Wise app on Android and Apple smartphones, tablets, and other devices. You can access and manage your fund transfers, Wise debit card, and Wise Borderless account with the app.

If all that doesn’t sound good for you and you would rather check Wise alternatives, then be sure to check alternatives mentioned above.


DISCLOSURE: Posts may contain affiliate links. If you buy something through one of those links, I might get a small commission, without any extra cost to you. Read more about it here.

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