India Price Comparison Research
A dedicated comparison research team in Wise compared Wise to four India bank accounts. They found that we’re on average 1x cheaper to send ₹9,000 abroad....
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.
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.
A dedicated comparison research team in Wise compared Wise to four India bank accounts. They found that we’re on average 1x cheaper to send ₹9,000 abroad....
Discover how Wise outperforms 5 major New Zealand banks, PayPal, and Western Union, offering savings of up to 6x on international transactions.
Detailed research by Wise reveals substantial savings compared to Singapore banks and services like Instarem, Revolut, and Youtrip by EZ link.
Discover how Wise compares to 5 major Japanese banks and Revolut, offering savings of up to 6x on international transactions.
An independent research team compared Wise to three French bank accounts as well as PayPal, Revolut, Western Union and Xoom by PayPal. They found that we’re...
An independent research team compared Wise to three Spanish bank accounts as well as PayPal, Revolut, Western Union and Xoom by PayPal. They found that we’re...