Australia Price Comparison Research
Discover how Wise compares to major banks and money transfer services, saving you up to 4x on international transactions.
Spain Price Comparison Research
An independent research team compared Wise to 3 bank accounts, as well as PayPal, Western Union, Xoom by PayPal and Revolut. They found that we’re on average 5x cheaper for spending abroad. Wise is also on average 11x cheaper to send 250€ abroad and our fees to withdraw 250€ from an ATM abroad are on average 5x cheaper. This is based on the prices offered by Wise Europe S.A during the research period.
Research methodology
The competitor research was collected in January 2023 during a 5 day period (16/01/2023 - 20/01/2023).
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 and USD using 250€ as the transaction value:
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The cost to send money abroad from an account
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The cost to spend money abroad using a debit card
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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 10x cheaper.
EUR > AUD: Wise is 12x cheaper
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Wise: 1.62€
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BBVA: 37.60€
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Caixa Bank: 35.92€
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PayPal: 17.13€
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Revolut: 0.75€
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Santander: 38.17€
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Western Union: 3.55€
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Xoom by PayPal: 6.57€
EUR > GBP: Wise is 9x cheaper
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Wise: 1.74€
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BBVA: 37.08€
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Caixa Bank: 36.10€
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PayPal: 14.11€
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Revolut: 0.75€
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Santander: 8.52€
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Western Union: 7.46€
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Xoom by PayPal: 6.69€
EUR > USD: Wise is 11x cheaper
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Wise: 1.68€
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BBVA: 37.04€
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Caixa Bank: 35.75€
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PayPal: 14.43€
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Revolut: 0.75€
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Santander: 38.23€
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Western Union: 2.10€
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Xoom by PayPal: 6.90€
2. Total cost to spend 250€. Overall, Wise is 5x cheaper.
EUR > AUD: Wise is 5x cheaper
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Wise: 1.18€
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BBVA: 7.50€
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Caixa Bank: 9.88€
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PayPal: Not offered
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Revolut: 0€
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Santander: 7.50€
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Western Union: Not offered
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Xoom by PayPal: Not offered
EUR > GBP: Wise is 5x cheaper
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Wise: 1.18€
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BBVA: 7.50€
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Caixa Bank: 9.88€
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PayPal: Not offered
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Revolut: 0€
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Santander: 7.50€
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Western Union: Not offered
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Xoom by PayPal: Not offered
EUR > USD: Wise is 5x cheaper
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Wise: 1.25€
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BBVA: 7.50€
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Caixa Bank: 9.88€
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PayPal: Not offered
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Revolut: 0€
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Santander: 7.50€
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Western Union: Not offered
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Xoom by PayPal: Not offered
3. Total cost to withdraw 250€. Overall, Wise is 5x cheaper.
EUR > AUD: Wise is 5x cheaper
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Wise: 1.57€
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BBVA: 11.25€
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Caixa Bank: 12.50€
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PayPal: Not offered
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Revolut: 1.00€
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Santander: 11.25€
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Western Union: Not offered
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Xoom by PayPal: Not offered
EUR > GBP: Wise is 5x cheaper
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Wise: 1.57€
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BBVA: 11.25€
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Caixa Bank: 12.50€
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PayPal: Not offered
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Revolut: 1.00€
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Santander: 11.25€
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Western Union: Not offered
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Xoom by PayPal: Not offered
EUR > USD: Wise is 5x cheaper
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Wise: 1.65€
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BBVA: 11.25€
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Caixa Bank: 12.50€
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PayPal: Not offered
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Revolut: 1.00€
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Santander: 11.25€
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Western Union: Not offered
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Xoom by PayPal: Not offered
Monthly account fees*
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Wise: 0.00€
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BBVA: 3.00€
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Caixa Bank: 0.00€
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PayPal: 0.00€
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Revolut: 0.00€
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Santander: 20.00€
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Western Union: 0.00€
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Xoom by PayPal: 0.00€
*Assuming that waiver criteria has not been met.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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