Wise vs Xe

How they differ

Wise and Xe are two of the best-known names in online currency transfers, and both are strong choices for US senders. The core difference is pricing model and delivery reach. Wise converts at the mid-market rate and charges a separate fee. Xe, which is part of Euronet Worldwide, adds a margin to the rate, as most providers do, but offers more ways for your recipient to receive the money.

Cost

Because Wise does not mark up the rate, its fee is the whole cost, which makes it easy to compare. Xe is open about its approach: it publishes the mid-market rate in its free converter and shows its own send rate and any fee before you confirm, so you can see the margin. Either way, the number that matters is how much your recipient gets. On some routes and amounts Xe may come out ahead and on others Wise will, so check both on the day you send.

Both say card payments cost more than bank payments. Xe notes that card payments come with a small additional fee but are its fastest option, and Wise shows the fee for each payment method in its quote.

Delivery and coverage

Xe offers bank deposit, cash pickup at partner locations and mobile wallet delivery where available, and its site says it sends to more than 190 countries in more than 130 currencies. Wise delivers to bank accounts and says it reaches more than 140 countries. If your recipient needs cash or uses a mobile wallet such as those common in Africa and Southeast Asia, Xe is the better fit.

Extras

Wise offers a multi-currency account and debit card, which is useful if you live, work or travel across countries. Xe is known for its currency converter and rate alerts, which help if you want to time a transfer.

Safety

Wise says it is a FinCEN-registered Money Service Business. Xe lists NMLS ID 920968 for Xe Corporation Inc and says it is licensed by FinCEN and regulators in other countries. Check any provider's NMLS number on NMLS Consumer Access.