Overview

Wise is a money transfer service from Wise, a company founded in 2011 and based in London, United Kingdom. Its app is available on Android and iOS, and the service also works on the web. People can use it to send money, receive payments from abroad, check exchange rates, pay bills and send money to loved ones.

Wise says it uses the mid-market exchange rate and shows transfer fees before payment. It sends money to bank accounts in more than 140 countries. Delivery depends on the route; Wise says transfers on many popular routes arrive within a day, on the same day or instantly. The company reports that millions of customers around the world move around £12 billion each month through Wise.

Account registration is free, while transfer and conversion fees vary by currency. Wise says it does not charge hidden fees or add exchange-rate markups. For households or freelancers who regularly send money across borders, the central question is how the fees and delivery estimate for a particular currency route fit their needs.

Key features

Transfers, rates and recurring payments

Recipients receive funds in bank accounts. Before a transfer is paid, the app displays its fees. Sending money to another Wise account has no sending fee, although conversion fees still apply when money is exchanged.

Users can fund transfers with Apple Pay, Google Pay, cards or a bank transfer. Wise provides transfer tracking and supports scheduled transfers. Users can also repeat a previous transfer, a practical option for recurring payments. Rate alerts provide live notifications about exchange-rate changes and the mid-market rate.

Account protection and verification

Wise uses two-factor authentication to protect accounts and transactions. It says customer money is held separately from its own accounts with established financial institutions. Photo identification may be required for some currencies or larger transfers, so users should be prepared for verification in those cases.

Customer support and international operations

Wise says support is available by email, live chat and phone, around the clock in English and 14 other languages. The company says it is licensed in most U.S. states and regulated by authorities worldwide. It also says it is authorised by the UK Financial Conduct Authority to issue electronic money. In India, Wise works with a local bank partner for inward remittances and says it has Reserve Bank of India authorisation.

Pricing

Wise uses a freemium model. The personal account and transfers plan is listed at 0.00 USD per free, with no subscriptions or plans; users pay for what they use. Registration is free, but sending and conversion fees vary by currency and start from 0.33%. The listed plan also shows variable transfer and conversion fees and a 200 USD monthly ATM withdrawal allowance shown as free.

The displayed starting fee is not a single price for every transfer. The amount depends on the currency and transaction, and Wise shows applicable fees upfront before payment. Transfers between Wise accounts have no sending fee, but conversion charges can still apply.

Platforms

Wise is available through the web and mobile apps for both major mobile platforms: Android and iOS. Wise says its apps are available through Google Play and the Apple App Store.

Who it's for

Wise may suit households and freelancers who need to send money internationally to bank accounts, receive payments from abroad or keep an eye on exchange rates. Scheduled and repeat transfers can help with payments made on a recurring basis, while upfront fee display gives users a chance to review costs before committing.

It may also be relevant to people sending to India: Wise says it works with a local bank partner for inward remittances and is authorised by the Reserve Bank of India. The available details focus on personal transfers; Wise Business separately lists a feature for managing team finances.

Pros and cons

Pros: Free account registration; upfront fee display; transfers to bank accounts in more than 140 countries; tracking, scheduled transfers and repeat transfers; multiple funding methods.
Pros: Rate alerts and mid-market rate information; no sending fee for transfers between Wise accounts, though conversion fees may apply.
Cons: Transfer and conversion charges vary by currency, and the listed starting fee does not indicate the cost for every route.
Cons: Photo ID may be required for certain currencies or larger transfers.

Alternatives

For a broader comparison, see our Money transfer apps list. Depending on your needs, you could also consider TransferGo, Xe Money Transfer, Remitly, Paysera, OFX, CurrencyFair, Global66 or Panda Remit. If your priority is a wallet or peer-to-peer payments rather than international bank transfers, browse Digital wallets or Peer-to-peer payment apps.

Verdict

Wise combines international bank transfers with exchange-rate information, transfer tracking and tools for repeat or scheduled payments. Free registration and upfront fee display make it easier to understand the cost before sending, but transfer and conversion fees remain variable, so the price needs to be checked for the intended currency route. Its reach across more than 140 recipient countries and its support for several funding methods make it worth considering for people who regularly move money internationally.

	MoMo	Wise
Free plan	No	Yes
Free trial	No	No
Paid from	—	Free
Open source	No	No
Platforms	iOS, Android	Android, iOS, Web
Free plan	Yes	Yes
Transfer speed	instant	instant
Mobile platforms	both	both
Upfront fee display	Yes	Yes
Transfer tracking	Yes	Yes
Recipient methods	—	bank
Exchange-rate model	—	mid_market
Scheduled transfers	—	Yes

MoMo vs Wise

MoMo

Wise