9 alternatives to Wise

Gabriela Peratello

Wise offers US customers personal and business transfers to 80+ countries, plus international accounts and multi-currency debit cards which can be used to hold and spend 50+ currencies, and get paid in 10 currencies.

But what if Wise doesn’t have exactly what you need — or if you’re looking to compare a few Wise competitors to see which suits your needs best?

Read on as we walk through some great Wise, formerly TransferWise, alternatives for international payments, personal accounts and business services.


What is Wise?

Wise is a financial technology company which specializes in currency conversion, cross-border transfers, and international account services for personal and business customers in the US and around the world.

We’ll look at Wise’s key services — transfers, personal accounts and debit cards, and business accounts — in more detail in just a moment — here’s a quick overview of what Wise offers to start us off.

  • Personal and business accounts for customers in the US and in most countries around the world

  • Multi-currency accounts to hold and exchange 50+ currencies

  • Debit and expense cards which can be used in 175+ countries

  • Currency conversion which uses the mid-market rate, when you send a payment, spend with your card or convert a balance you hold

  • International transfers to 80+ countries, in 50+ currencies 

  • All services are delivered digitally, through Wise’s app and desktop site

Before we get into our full Wise competitor analysis let’s also look at a few pros and cons you might want to consider:

✅ Pros❌ Cons
  • Send money to 80+ countries, hold and exchange 50+ currencies and spend with your Wise card in 175+ countries

  • Currency exchange uses the mid-market exchange rate

  • Fees are low and transparent

  • Personal and business services available

  • No branch network or face to face service

  • Transaction fees apply based on how you use your account

  • No option to pay in cash, or send transfers for cash collection

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Which are Wise's main competitors?

Wise offers a pretty broad range of services, which means there are different apps and sites like Wise, depending on exactly what service you need.

We’ll dive into this in more detail, looking at the key Wise services available, next. Here’s an overview of the main Wise competitors we’ll look at:

ProviderEligibilityMulti-currency accountSend payments to
OFX®Business and personalBusiness only170+ countries
Western Union®Business and personalNot availableGlobal
Remitly®PersonalNot available145+ countries
Revolut®Business and personalAvailableGlobal
PayPal®Business and personalAvailableGlobal
HSBC® Global MoneyBusiness and personalAvailable150+ countries
Payoneer®BusinessAvailableSelect countries

Alternatives to Wise transfers

Let’s look at some of the best Wise alternatives if you need to send an international transfer.

What Wise offers:
  • Personal and business transfers available

  • Send to 80+ countries in 50+ currencies

  • Fees from 0.41% of transfer value¹

  • Currency exchange uses the mid-market exchange rate

  • 50% of payments are instant, 90% arrive in 24 hours²

  • Transfers are usually unlimited or capped at around the equivalent of 1 million GBP, depending on the currency


Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information


✅ Pros❌ Cons
  • Personal and business transfers

  • No transfer fee for most payments

  • High value payments accepted

  • Send to 170+ countries

  • 1,000 USD minimum payment⁴

  • Exchange rates include a markup

  • No cash collection options

OFX³ is a currency specialist with a great range of services for personal and business customers, including international transfers you can make online, in app or by phone.

OFX is popular with people who like to transact by phone as you can talk through your payment options 24/7 with a dedicated broker.

There’s no transfer fee to pay usually, but the exchange rate you get to convert your dollars to the currency you need will include a markup.

Western Union

✅ Pros❌ Cons
  • Send more or less anywhere in the world

  • Good range of pay in and pay out options, including cash services

  • Trusted and long established provider

  • Get help in person at an agent location

  • Fees apply, which can be on the high side

  • Exchange rates include a markup which varies based on the way you set up your payment

If you want an alternative to Wise transfer and need your money to be paid in or paid out in cash, Western Union⁵ can be a good choice.

As one of the largest and longest established money transfer services in the world, Western Union has a great range of payment options, and a strong branch network which means you can send money in person and pay in cash, and have your recipient get their funds in cash locally to them, too.

Transfers to and from bank accounts are also supported. Fees apply, and exchange rates include a markup.


✅ Pros❌ Cons
  • Send online and in app, and have your recipient collect in cash if you’d like

  • Choose the delivery speed you need, including economy or express payments

  • Send to 145+ countries from the US

  • Fees apply, which vary based on delivery speed and payment method

  • Exchange rates include a markup

  • No cash pay in option

Remitly⁶ transfers can be sent to 145+ countries, on common remittance routes from the US.

You’ll be able to set up your transfer online or in the Remitly app and then choose the best delivery speed and method for you.

Usually this means picking a cheaper economy payment, or a faster express service — with pay out options including cash collection, and deposits to bank and mobile money accounts.

Fees apply which vary based on the specific service you need, and exchange rates include a markup.

Wise Account and card alternatives

Wise also offers a multi-currency account and card you can operate entirely online or using your smartphone. If you’re in the market for an international account and card let’s look at some Wise alternatives.

What Wise offers:
  • Hold 50+ currencies and send payments to 80+ countries

  • Get local bank details for 10 currencies to get paid

  • Order a linked Wise debit card to spend and make withdrawals in 175+ countries

  • All currency exchange uses the mid-market rate

  • No ongoing account fees, no minimum balance

Get a Wise Account


✅ Pros❌ Cons
  • Choose the account tier you prefer, including free Standard options

  • All accounts come with linked international payment cards

  • Free transactions are available, based on the account tier you pick

  • You’ll need to pay a monthly fee to get all features

  • Transaction and fair usage fees apply based on how you use your account

Revolut⁷ US customers can choose from a selection of account plans, and get multi-currency features and a linked physical, virtual or even metal card — which can be a neat Wise card alternative for international spending.

Accounts hold 25+ currencies and also have extra perks like some fee free currency exchange, budgeting tools, options to trade stocks, and additional accounts for under 18s.

Standard accounts have no monthly fee, or you can upgrade to a fee paying account for more features — transaction fees may apply depending on the account tier you select and how you need to use it.


✅ Pros❌ Cons
  • Global reach and huge user base

  • Send payments instantly using just an email address

  • Selection of different PayPal cards available for international use

  • International transfers may attract a 5% fee, plus a currency conversion charge⁹

  • Currency conversion costs can be 3% — 4%⁹

PayPal⁸ is a huge global name, which lets customers hold a balance in 25+ currencies, and receive payments from other PayPal users around the world.

With such a large user base, PayPal can be an easy way to send and receive payments — and you can also get linked debit, credit and prepaid cards depending on your needs.

PayPal accounts have no maintenance fees but fees apply to transactions, including charges when you convert from one currency to another in your account or to make a payment.

HSBC Global Money

✅ Pros❌ Cons
  • Hold 8 currencies

  • Send instant payments around the world

  • Operate account in-app for convenience

  • You’ll also need an HSBC USD account

  • No card available for the Global Money account

If you’d like a Wise alternative that is also a fully fledged international bank, one option in the US is the HSBC Global Money account¹⁰ which is offered to people who already hold an eligible HSBC USD account.

The Global Money account doesn’t come with a linked card — but the HSBC card you have from your USD account can be used overseas. It does, however, let you hold 8 currencies and send instant payments¹¹ easily to other HSBC accounts.

Fees may apply to the underlying HSBC USD account you select, and exchange rates may include a markup.

Wise Business alternatives

Wise services in the US also cover business accounts, with all the perks you get as a personal Wise customer, and a few more too. Let’s look at some alternatives to Wise for business customers so you can compare.

What Wise offers:
  • Multi-currency accounts to hold and exchange 50+ currencies

  • Linked payment and expense cards to use in 175+ countries

  • Receiving account details for 10 currencies to get paid like a local

  • Currency exchange uses the mid-market rate

  • Multi-user access and permissions management for team members

  • Batch payments and an open API

  • Cloud accounting integrations


Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

OFX Global Currency Account

✅ Pros❌ Cons
  • Hold and receive 7 currencies

  • Send payments in 50+ currencies

  • Transfers don’t usually have any fees to pay

  • No linked debit or expense card

  • Exchange rates include a markup

If you’re an online seller an OFX Global Currency Account¹² could be a good option as a Wise Business alternative.

You don’t get a linked payment card, but you can hold and receive 7 currencies, and send payments in 50+ currencies. OFX also offers more complex currency risk management products like forward contracts, which can help businesses manage the risks of fluctuations in the exchange rate.

Fees apply to risk management products, and exchange rates may include a markup.

Revolut Business

✅ Pros❌ Cons
  • Hold and exchange 28 currencies

  • Pick a free standard account or upgrade to a fee paying tier

  • Options to earn cash back on spending

  • You’ll need to pay a monthly fee to get all features

  • Fair usage charges apply once you exhaust plan limits

Revolut Business¹³ plans start with a free Standard option, and run right up to tailor made packages for enterprise level customers.

All accounts have great international features and card options, and can support 28+ currencies. Accounts also come with local account details for USD and GBP so you can get paid in both currencies easily.


✅ Pros❌ Cons
  • Local receiving account details to get paid by customers and marketplaces

  • Send payments to contractors and staff easily

  • Payment cards and extra services like working capital loans available

  • Transaction and inactivity fees apply¹⁵

  • Exchange rates have a markup of 0.5%¹⁵

Payoneer¹⁴ has business accounts for a wide range of customers, with a focus on anyone doing business digitally.

You’ll be able to pay and get paid easily in different currencies, with receiving account details in several major currencies. Plus you can get Payoneer cards for payments, and extra business features and services like working capital loans.

Use this guide to compare Wise to a few alternative services, based on the type of transactions you need to make — so you can pick the provider that’s right for you, no matter what you’re looking for.


  1. Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
  2. The speed of transaction claim depends on funds availability, approval by Wise's proprietary verification system and systems availability of our partners' banking system, and may not be available for all transactions
  3. OFX US
  5. Western Union US
  6. Remitly US
  7. Revolut US
  8. PayPal US
  9. PayPal US fees
  10. HSBC Global Money
  11. HSBC international transfers
  12. OFX Global Currency Account
  13. Revolut Business
  14. Payoneer
  15. Payoneer fees

Sources checked on 04.27.2023

*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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