XE vs. Wise: A Head-to-Head Comparison of Services

Highlights

• Wise offers transparent, smaller fees and uses the true mid-market exchange rate, with no hidden markups.
• XE provides competitive exchange rates with a small margin but does not charge fees on larger transfers.
• Wise features an intuitive app designed for ease of use.
• XE supports transfers to over 200 countries, making it ideal for extensive global reach.
• Both prioritize user security and offer responsive customer support.
• Understanding differences in speed, fees, and features will help you choose the best option for your needs.

Introduction

Sending money internationally requires selecting the right platform that balances cost, speed, and convenience. Wise and XE are two leading services, each catering to different customer needs. Both aim to provide competitive exchange rates, low fees, fast transfers, and user-friendly experiences for handling multiple currencies. This article compares Wise and XE in detail to help you make an informed decision based on your specific requirements.

1. Money Transfer Services

Wise was founded in 2011 and uses a peer-to-peer system to cut costs, offering the mid-market exchange rate without hidden fees. It appeals to individuals and small businesses seeking transparent pricing and simplicity. XE has been in the currency exchange business since 1993. It supports over 130 currencies and transfers to more than 200 countries. XE is suited for users and businesses that require broad global access and advanced tools like exchange rate alerts and detailed currency data.

• Wise: Best for clear fees and small to medium transfers.
• XE: Best for large amounts and global reach with specialized tools.

2. Exchange Rate Comparison

Exchange rates are a critical factor for international transfers.

• Wise uses the mid-market rate and the real exchange rate without markup. Fees are transparent, based on a small fixed amount or a percentage of the transfer.
• XE adds a margin of 0.5% to 1.5% on the exchange rate. While XE’s rates improve on larger transfers (typically over $500,000), the markup can make smaller transfers more expensive.

Example: For a $1,000 transfer, Wise generally offers better value due to its clear, low fees and mid-market rates. For transfers exceeding $500,000, XE’s exchange rate margin may yield a better overall cost.

3. Transfer Speed Comparison

Transfer speed varies based on destination, payment method, and transfer amount.

• Wise is often faster for routine, smaller transfers.
• XE excels with cash pickups and high-value transfers, sometimes delivering funds within minutes.

4. Fee Structures

Understanding fees helps avoid surprises.

• Wise charges a small, upfront fixed fee plus a percentage of the amount. All costs are visible before confirming the transfer.
• XE charges no fees on transfers above $500–$1,000, depending on the country and payment method, but incorporates fees into the exchange rate margin.

Summary: Wise’s model suits small and frequent transfers, while XE benefits users sending large sums, especially businesses.

5. Customer Support

Responsive customer service is key for money transfer confidence.

• Wise provides round-the-clock support with quick responses.
• XE offers multilingual phone support, helpful for international users, but only during regular business hours.

6. Mobile App Usability

Mobile apps enhance user experience.

Both apps have positive reviews, but Wise’s app is praised for simplicity, while XE’s appeals to users needing deeper currency insights.

7. Security Measures and User Trust

Both platforms prioritize security with

• Two-factor authentication (2FA)
• Biometric verification (fingerprint/face)
• Compliance with international regulations

Wise is regulated by the UK’s Financial Conduct Authority (FCA) and widely trusted for transparency. XE adheres to GDPR and employs strong payment checks, making it reliable for large transactions.

8. Accessibility and Global Reach

• XE supports sending money to over 200 countries and offers 100+ currencies.
• Wise operates in 76 countries with support for 50+ currencies and provides multi-currency accounts.

Choose XE for maximum global reach and Wise for excellent multi-currency management and personal use.

Xe vs. Wise: Company Comparison

Conclusion

Both XE and Wise offer strong services for international money transfers but cater to different needs:

• XE is ideal for businesses or individuals sending large sums globally with strong customer support and advanced currency tools.
• Wise excels for small to medium transfers, offering transparent fees, fair exchange rates, and a user-friendly experience.

Your choice depends on what matters most: speed, cost, customer service, or global reach.

Frequently Asked Questions

What are the main differences between XE and Wise?

Wise offers mid-market rates and transparent fees, ideal for smaller transfers. XE includes a margin on exchange rates but charges no fees on large transfers, making it better for bulk or business payments.

Which service has lower fees?

Wise generally has lower and clearer fees, especially for small transfers. XE can waive fees for transfers over $500 but adds margin to the exchange rate.

How do they handle currency exchange fluctuations?

Wise always uses the true mid-market rate with no markup. XE adds a margin but provides reliable rates, especially for larger sums.

Is Wise or XE faster for international transfers?

Wise typically processes small to medium transfers faster, often within minutes to a few hours, depending on the destination and bank. XE may take longer for standard transfers but can deliver funds within minutes for cash pickup or large transfers.

Which platform is better for business use?

XE is often better suited for businesses handling high-volume or large-value transfers due to its broad currency support, fee waivers, and advanced tools like exchange rate alerts. Wise also supports business accounts but is more focused on transparency and ease of use for recurring or smaller international payments.

Can I hold and manage multiple currencies with Wise or XE?

Wise offers a multi-currency account, allowing users to hold, convert, and spend in over 50 currencies using a linked debit card. XE does not provide multi-currency wallets but excels in real-time exchange data and one-time transfers.

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Reviewed and edited by Albert Fang.

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Article Title: XE vs. Wise: A Head-to-Head Comparison of Services

https://fangwallet.com/2025/06/07/xe-vs-wise/

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