Which scores better when comparing XendPay vs Wise? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
XendPay
Overall score:
47
47
Wise
Overall score:
75
75
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
25
25
XendPay provides money transfer services for personal customers from several countries.
50
50
Wise provides a simple easy to use international money transfer service with digital wallet capabilities. Their digital wallet, or Borderless account also gives the individual local banking details in 6+ currencies including, EUR, SGD, NZD, USD, GBP and AUD. Their Wise Borderless debit card backs on to their Borderless digital wallet allowing you to spend directly out of your multi-currency account balances.
11
11
XendPay's services for business clients are quite basic.
56
56
In addition to the services Wise offers the individual, there are some features only available for a business. Unfortunately, as Wise is online only, a business customer does not have support with currency fluctuations and trends. Wise does however offer easy to use transactional foreign currency receipts and payments.
Scheduled transfers is a recently added feature. This can reduce admin for those standard monthly, weekly payments to suppliers and staff. A sufficient balance in the Business Borderless account is required. Wise will remind the account owner to make sure there is sufficient funds in the multi-current account. What is not supported is standing orders from a business bank account through Wise. This may mean that businesses need to alter their business structure to ensure continuous sufficent Borderless account funding.
8
8
The markup that XendPay adds on existing mid-market exchange rates can be up to 2% for some currency pairs.
Personal customers have the option of paying no transfer fees for transfers up to a total of £2,000 every 12 months. For business customers, the annual limit through this "Pay What You Want" system stands at £4,000, You need to pay system-generated fees after reaching this limit. Mobile wallet top ups might involve additional fees.
If you're making a card payment from outside the EEA, you will need to pay an added fee. Personal cards attract 2.3% as fees, and business cards are charged 2.5%.
54
54
Wise offers the real time exchange rate at the time of your transfer. Therefore fees are visible in addition to the transfer amount. The fee structure is complex as it differs depending on the currencies you are sending from and to. Fees also apply to the type of Borderless account transaction. Fees can also apply on the use of the Wise Borderless debit card. Fees are briefly summarised below. Read the detailed TransferWise review for more details on Wise fees.
| Wise Service | Wise fee |
| Simple International Money Transfer | 0.4% - 2% Varies on currency and payment type |
| Adding to Wise Borderless account | 0.4% - 0.5% |
| Converting between Borderless account | 0.3% - 0.6% |
| Sending money out of Borderless account | Less than 0.1% in most cases |
| Borderless Account Debit Card | No fee for card issuance Fee free cash withdrawal limit of US$250, 2% thereafter Zero cost on spend from existing currency balance, 0.24 - 3.69% fee if there is no existing balance |
71
71
Signing up - Register as a new customer by using the XendPay app or website.
Payment methods - Bank account transfers, credit cards and debit cards.
Mobile app - XendPay provides an app for iOS.
ID verification - Can take up to three business days.
App for Android - Development of an app for Android is still underway.
Transfer speed - 1 - 3 business days from the time the company receives your payment.
Phone transfers - You can not set up transfers over the phone.
83
83
The Wise app design and user experience of their technology is great with simple, intuitive processes.
Registration - Fast and easy account creation
ID verification - Instant in some countries
Transfer speed - It can be instantaneous in some countries. Fast payments to Wise comes at an additional cost.
Minimum transfer amount - $1
Mobile app - Simple and easy to use. Probably the best designed app of the international money transfer companies.
Payment options - Wise has the broadest range of payment options. Local bank transfer, debit / credit card and country specific solutions such as POLi.
81
81
Supported registration countries - Register as a new customer from about 30 countries.
Supported destination countries - Send money to approximately 75 countries.
Mobile wallet top ups - Available for wallets issued by service providers in Ghana, Indonesia, Kenya, Nepal, Nigeria and the Philippines.
Multilingual support - You can get customer support and use the XendPay website in multiple languages.
Chat support - XendPay is yet to start offering support via live chat.
88
88
Wise’s supported countries vary with different services having different supported customer countries and destination countries. These are detailed in the TransferWise Countries and Currencies article and is summarized below.
Send from - 23 countries plus the Europe SEPA countries
Send to - Over 60 currencies
Borderless account and debit card - Over 6 countries can sign up to their Borderless services.
38
38
Exchange rate transparency - Informing customers just how much margin it applies on exchange rates would help in increasing transparency and building trust.
63
63
Wise is fully regulated by the FCA and their customer funds are segregated from their business banking activities.
Wise is rated on TrustPilot as Excellent. Unfortunately there have been some poor reviews on TrustPilot indicating sudden account closures with funds being returned with no explanation.
Wise continues to raise capital through private funding. This could be a concern for the future when the shareholders are looking for aggressive growth and / or a return on their investment.
WinnerThis is an easy one to compare as Wise beats XendPay across all of the categories and convincingly in most cases. The standout wins are across Wise's business offerings and cheaper fees and exchange rates.
