XE vs Wise

Xe vs Wise


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When it comes to reliable money transfer services, XE and Wise are at the top of the game. But deciding between them can be a tough call.

Wise shines with its transparent fees and convenient multi-currency accounts for seamless spending across different currencies. Meanwhile, XE boasts a broader global reach, making it a go-to choice for many users.

In this comprehensive article, we delve into the nitty-gritty of each company, exploring their fees, customer reviews, transfer speed, and more. By the end, you’ll have the clarity to choose the perfect app for your specific needs. 🌍💸


New user incentiveReferral voucher for transfers above $1000Referral discount
Fees and costs🟢
Transfer speed🟢
Transfer limits🟢
Ease of use🟢
Customer reviews🟢
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Xe vs Wise: Company comparison


Xe is a Canadian online foreign exchange platform and money transfer company. It was founded in 1993 and the company offers money transfer services in over 190 countries in 130 currencies. 

Users in the US, Canada, the UK, and Europe can send money overseas for cash collection. 

New customer incentives: The company has a referral award program for UK, US, Canadian, Australian, and New Zealand citizens. After you join Xe, you’ll get a personalized share link. If you share this link with any of your friends and they make a transfer through Xe above $1000, both of you will be rewarded with vouchers of $25/ £25, depending on your currency.

See our review of Xe.


Wise is a UK-based foreign exchange fintech company founded in 2011. Though the company is fairly new compared to Xe, it has established a name for itself due to its affordable exchange rates.

You can send money to over 80 countries and use their multi-currency account to hold and manage over 50 currencies. The company has helped users process total transfers of $8 billion.

New customer incentives: If you refer someone to Wise with a referral link and they register an account, they are given a free first transfer.

Wise’s new customer incentive is more rewarding because the discount will be applied to any transfer amount, unlike with Xe. However, Xe is available in more countries and supports more currencies than Wise. It also offers a cash collection option which Wise lacks. 

See our review of Wise.

Fees and costs comparison


Xe charges no sending fees for users in the United States, Australia, New Zealand, and Canada. If you send money from the European Union or the United Kingdom, you can get a free transfer for payments above 250 EUR/GPB. For transfers lower than 250 EUR/GPB, you’ll be charged a transfer fee of 2 EUR/GBP.

Credit card payments will be charged an extra flat fee as well. For U.S. customers, the fee is 2.99% of the transfer amount.


Wise doesn’t charge a transfer fee for transfers between two Wise accounts in the same currency. It does, however, have a transfer fee of between 0.5%-1% of the transfer amount. 

Using a credit card to fund the payment will cost you a flat fee between $1-$2.

Transaction FeeNo fees (Except for the U.K. and the European Union)Percentage-based fees
Exchange RateMarkup is includedMid-market Rate
Credit Card FeeYesYes
Minimum LimitNo limit$1
Maximum Limit (24 hours)$500,000$1,000,000
Total Amount Upfront QuoteYesYes

Xe is cheaper for users outside of the UK and European Union. Although, Wise offers a competitive transfer fee that may be more affordable for users in the EU or the UK. 

Exchange rate comparison

Xe’s exchange rate is made up of the mid-market rate with the addition of its FX margin. 

Wise converts currencies according to the mid-market rate with no additional markup. 

Therefore, Wise is the clear winner regarding better exchange rates. 

Safety comparison


Xe is a licensed payment service provider by the Dutch Central Bank and a money transmitter by the Department of Financial Services of the State of New York. It is regulated by the Australian Securities and Investments Commission (ASIC) and registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

The company protects transactions and sensitive user information through advanced encryption. It also informs its customers on how to identify different types of fraud and how to report them.


Wise is a licensed financial service that operates under various licensing requirements and regulations, including anti-money laundering (AML) and know-your-customer (KYC) regulations. This ensures the security of your funds.

The company is a member of the Financial Conduct Authority (FCA) in the United Kingdom and licensed in many U.S. states by the Department of Financial Services (DFS).

These regulatory bodies monitor Wise’s operations and call out the company in case of any discrepancy.

Both Wise and Xe are legitimate payment service providers bound by strict regulations. They protect data and transactions through advanced encryption methods.

Transfer speed comparison


Domestic money transfers are usually completed within a day, but international payments can take 1-4 business days. This varies based on the destination country and payment method used. 


Most of Wise’s transfers are completed within 24 hours, with 45% arriving within minutes. However, transfer times can be up to two business days depending on the currency and country. 

Both companies have similar payment transfer speeds, with the standard being within a day. However, 45% of Wise transfers are instant, making it the more reliably fast option.

Ease of use comparison

  • Account Setup:  You can easily register accounts on Wise and Xe through their websites and apps. You can transfer payments as soon as your details are verified. 
  • Associated App: Both companies have easy-to-use apps so their customers can make payments whenever and wherever they are.
  • Transfer Limits: Wise has a minimum limit of $1 and a maximum limit of $1,000,000. Xe has no minimum transfer limit, while its maximum transfer limit is $500,000 for online transfers.
  • Customer Support: Wise’s help center is available in 16 languages, including English, Italian, French, Spanish, and more. It also offers support via phone, live chat, and email. Xe provides customer support in over 100 languages through email and live chat. 
  • Currency Options: Wise supports over 50 currencies with its multi-currency account, while Xe supports 130 currencies. 

Customer review comparison 


Xe has 4.2/5 stars on Trustpilot, 3.5 /5 stars on the Google Play Store, and 4.3/5 stars on the Apple Store.

Customers were pleased with Xe’s low fees and shared that their customer service was responsive. However, there were many complaints about delayed payments.


Wise has 4.4/5 stars on Trustpilot, 4.8/5 stars on the Apple store, and 4.2/5 stars on the Google Play store.

Users love Wise’s multi-currency accounts and cards because they are helpful during traveling. On the downside, users were unsatisfied with the company’s customer support.

Wise has better ratings than Xe despite the complaints regarding customer support. This is because Wise users didn’t have problems with payment delays as much as Xe users.

Availability comparison

Wise offers its services to 80+ countries with the ability to manage over 50 currencies with its multi-currency account. 

Xe is available in 190 countries and 130 currencies. Xe also offers cash pick-up and delivery options which Wise lacks.

Overall, Xe is more widely available than Wise.

Final verdict

Xe’s strengths lie in its wide availability, cash collection option, and zero transfer fees for users outside of the UK and EU. 

Wise is great for managing and holding 50+ currencies with its multi-currency account. Its card can also be used for spending worldwide with low foreign transaction fees. Moreover, its transfer speeds are faster than Xe.

After reading through our post, we hope that you’re left with a better sense of whether Xe or Wise is best for you.  


Is there a better solution than Wise? 

Revolut is a worthy Wise alternative. It offers a card that can be used for spending overseas with low foreign transaction fees. Revolut is also more widely available than Wise as its services are present in 200+ countries. 

Which is cheaper, Xe or Wise?

Whilst Xe doesn’t charge a transfer fee for users outside of the UK and EU, they do add a markup to the exchange rate. Wise’s low transfer fees and no exchange rate markups make it the cheaper option for most. 

How many currencies do Xe and Wise support?

Wise lets you hold and manage 50+ currencies, while Xe supports 130. 


  1. https://help.xe.com/hc/en-gb/articles/360020025678-Xe-s-refer-a-friend-offer
  2. https://help.xe.com/hc/en-gb/articles/360019472317-Are-there-any-fees-#:~:text=For%20example%2C%20for%20US%20customers,charged%202.99%25%20of%20that%20amount.
  3. https://help.xe.com/hc/en-gb/articles/360019656798
  4. https://wise.com/help/articles/2897238/which-currencies-can-i-add-keep-and-receive-in-my-wise-account
  5. https://wise.com/help/articles/2932693/how-is-wise-regulated-in-each-country
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