XE services over 200 countries worldwide, and handles around 100 currencies. While XE covers more countries and currencies, Wise allows more payment and receive options. It's too close to call on product offering. Wise charges no margin on the exchange rate it offers for any currency pair. To find out the fastest way to send money, follow our guide. Credit card attracts the highest fee at 36.61 USD and bank debit (ACH) has the lowest fee at 3.49 USD. For instance, when sending US$1000 from the United States to India, the fee breakdown is based on the payment method (Bank debit, Wire transfer, Debit card and Credit card). The names of these transfers and the associated fees may vary slightly depending on the transfer route. Payment is sent as a direct debit from your account. Low-Cost Transfer: This is the cheapest type of transfer. There are three main transfer options:įast Transfer: This is the most expensive transfer and payment is made by credit or debit card.Įasy Transfer: This is the second most expensive transfer and payment is sent through an online bank platform. Wise charges percentage fees depending on the type and size of transfer you are doing. As the size of the transfer increases, the margin reduces. For instance, when transferring money from USD to EUR, the exchange rate margin can be as low as 1.53%. XE exchange rate margins are fair compared to money transfer operators like Western Union and mainstream banks. Irrespective of the transfer route and amount, the fees are always zero. XE doesn’t charge any fees on its transfers. To find out the cheapest way to send money, follow our guide. Between Wise vs XE, Wise carries the day, thanks to the mid-market rate at which it prices its transfers.
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