Germany Price Comparison Research

An independent research team compared Wise to four German bank accounts and PayPal, Revolut, Western Union, Xoom. They found that we’re on average 2x cheaper for spending abroad. Wise is also on average 5x cheaper to send 250€ abroad and 2x cheaper to withdraw 250€.

This is based on the prices offered by Wise Europe S.A during the research period. 

Research methodology

The competitor research was collected in February 2023 during a 5 day period (06/02/2023 - 10/02/2023).

The team looked at data across multiple countries, currencies, and price points to make sure any price claims we make are fair and accurate. The data was collected by simulating a transfer using live accounts on the providers website, during standard trading hours and at the same time every day, whenever possible, to ensure consistency across the comparison.

The research scope looked at the following, across AUD, GBP, PLN, TRY and USD using 250€ as the transaction value:

• The cost to send money abroad from an account

• The cost to spend money abroad using a debit card

• The cost to withdraw money abroad from an account via an ATM

The costs collected for sending money abroad are made up of both the foreign transaction fee and any exchange rate markup. The exchange rate markup is a percentage added to the mid-market exchange rate by a provider when they sell you a currency. The costs collected for spending money abroad and withdrawing money abroad from an account via ATM are only made up of foreign transaction fees. 

The research and results

1. Total cost to send 250€. Overall, Wise is 5x cheaper.

EUR > AUD: Wise is 7x cheaper

• Wise: 1.62€

• Berliner Sparkasse: 14.90€

• CommerzBank: 30.73€

• Deutsche Bank: 12.87€

• PayPal: 14.77€

• PostBank: 10.68€

• Revolut: 0.73€

• Western Union: 12.46€

• Xoom by PayPal: 5.84€

EUR > GBP: Wise is 5x cheaper

• Wise: 1.63€

• Berliner Sparkasse: 13.27€

• CommerzBank: 23.84€

• Deutsche Bank: 1.21€

• PayPal: 14.25€

• PostBank: 8.57€

• Revolut: 0.72€

• Western Union: 7.56€

• Xoom by PayPal: 6.44€

EUR > PLN: Wise is 4x cheaper

• Wise: 2.13€

• Berliner Sparkasse: 14.68€

• CommerzBank: 30.96€

• Deutsche Bank: 3.52€

• PayPal: 11.69€

• PostBank: 10.67€

• Revolut: 0.75€

• Western Union: 4.24€

• Xoom by PayPal: 7.41€

EUR > TRY: Wise is 2x cheaper

• Wise: 4.33€

• Berliner Sparkasse: 13.09€

• CommerzBank: 24.16€

• Deutsche Bank: 12.96€

• PayPal: Not offered

• PostBank: Not offered

• Revolut: 0.76€

• Western Union: 5.06€

• Xoom by PayPal: Not offered

EUR > USD: Wise is 6x cheaper

• Wise: 1.68€

• Berliner Sparkasse: 13.56€

• CommerzBank: 23.89€

• Deutsche Bank: 12.73€

• PayPal: 14.43€

• PostBank: 8.68€

• Revolut: 0.77€

• Western Union: 5.13€

• Xoom by PayPal: 6.59€

2. Total cost to spend 250€. Overall, Wise is 2x cheaper.

EUR > AUD: Wise is 2x cheaper

• Wise: 1.18€

• Berliner Sparkasse: 4.75€

• CommerzBank: 2.50€

• Deutsche Bank: 2.50€

• PayPal: Not offered

• PostBank: 4.63€

• Revolut: 0.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > GBP: Wise is 2x cheaper

• Wise: 1.18€

• Berliner Sparkasse: 4.75€

• CommerzBank: 2.50€

• Deutsche Bank: 2.50€

• PayPal: Not offered

• PostBank: 4.63€

• Revolut: 0.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > PLN: Wise is 1x cheaper

• Wise: 1.55€

• Berliner Sparkasse: 4.75€

• CommerzBank: 2.50€

• Deutsche Bank: 2.50€

• PayPal: Not offered

• PostBank: 4.63€

• Revolut: 0.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > TRY: Wise is 1x cheaper

• Wise: 2.75€

• Berliner Sparkasse: 4.75€

• CommerzBank: 2.50€

• Deutsche Bank: 2.50€

• PayPal: Not offered

• PostBank: 4.63€

• Revolut: 0.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > USD: Wise is 2x cheaper

• Wise: 1.25€

• Berliner Sparkasse: 4.75€

• CommerzBank: 2.50€

• Deutsche Bank: 2.50€

• PayPal: Not offered

• PostBank: 4.63€

• Revolut: 0.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

3. Total cost to withdraw 250€. Overall, Wise is 2x cheaper.

EUR > AUD: Wise is 3x cheaper

• Wise: 1.62€

• Berliner Sparkasse: 7.50€

• CommerzBank: 5.98€

• Deutsche Bank: 5.99€

• PayPal: Not offered

• PostBank: 7.24€

• Revolut: 1.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > GBP: Wise is 3x cheaper

• Wise: 1.62€

• Berliner Sparkasse: 7.50€

• CommerzBank: 5.98€

• Deutsche Bank: 5.99€

• PayPal: Not offered

• PostBank: 7.24€

• Revolut: 1.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > PLN: Wise is 2x cheaper

• Wise: 1.99€

• Berliner Sparkasse: 7.50€

• CommerzBank: 5.98€

• Deutsche Bank: 5.99€

• PayPal: Not offered

• PostBank: 7.24€

• Revolut: 1.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > TRY: Wise is 1x cheaper

• Wise: 3.19€

• Berliner Sparkasse: 7.50€

• CommerzBank: 5.98€

• Deutsche Bank: 5.99€

• PayPal: Not offered

• PostBank: 7.24€

• Revolut: 1.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

EUR > USD: Wise is 3x cheaper

• Wise: 1.69€

• Berliner Sparkasse: 7.50€

• CommerzBank: 5.98€

• Deutsche Bank: 5.99€

• PayPal: Not offered

• PostBank: 7.24€

• Revolut: 1.00€

• Western Union: Not offered

• Xoom by PayPal: Not offered

Monthly account fees*

• Wise: 0.00€

• Berliner Sparkasse: 4.95€

• CommerzBank: 7.90€

• Deutsche Bank: 6.90€

• PayPal: 0.00€

• PostBank: 10.90€

• Revolut: 0.00€

• Western Union: 0.00€

• Xoom by PayPal: 0.00€

*Assuming that waiver criteria has not been met.