Our verdict
Wise is often a cheaper, clearer option than traditional bank transfers. Always compare the final amount received before you send.
What is Wise?
Wise is a money-transfer and multi-currency account service. It shows the exchange rate and fee up front, so you can see what the recipient gets before you send.
Key features
- Upfront fee and exchange rate before you send
- Multi-currency account for holding and converting money
- Transfers to many countries and currencies
- Debit card for spending abroad in supported countries
- Mobile app and web access
Pros
- Clear, upfront pricing
- Shows the exchange rate before you send
- Handy multi-currency balances
- Easy-to-use app
Cons
- Features differ by country
- Not a full bank
- Identity checks can take time for new users
Pricing
Wise charges a fee that depends on the currency, the amount and the payment method. Use Wise's calculator to see the exact cost of your transfer before you confirm it.
Who should use Wise?
Freelancers, students, travellers and families who send or receive money across borders.
Who should skip it?
People who need a full bank with loans or cash-heavy services, or who live where Wise's features are limited.
How Wise scored
Scores out of 5, weighted as explained on How We Review.
Frequently asked questions
Is Wise a bank?
Wise is a money-transfer service rather than a traditional bank, and the protections you get depend on your country.
How long do transfers take?
It depends on the currencies and payment method. Wise shows an estimate before you confirm.
Is Wise available in my country?
Availability and features differ by country, so check Wise's supported-countries information first.
Alternatives worth a look
- Remitly
- PayPal
- Revolut
Want us to review another app?
Tell us which app or tool you would like to see tested next.