Wise vs WorldFirst – A Full Comparison 2025
Wise and WorldFirst both offer multi-currency account and payment services to businesses in Australia. Wise also serves personal customers. Both services have great ways to hold, receive, send and spend a range of foreign currencies – but the way they work, and the fees they charge can vary a bit.
This Wise vs WorldFirst review walks through all you need to know about their features, fees, services and safety, to help you choose the right one for your business.
Summary: Wise serves both business and personal customers with multi-currency accounts which support 40+ currencies, ways to receive 8+ currencies and international payments to 160+ countries with the mid-market exchange rate and low, transparent fees. WorldFirst is a specialist in business account and payment services, with ways to receive 20+ currencies, and ways to make payments to 200+ countries.
Wise vs WorldFirst: side by side
We’ll dive into the details of how Wise vs WorldFirst work throughout this guide. First let’s take a head to head comparison on a few important features.
| Feature | Wise | WorldFirst |
|---|---|---|
| Eligibility | Personal and business customers in Australia and many other countries | Business customers in Australia and a selection of other countries |
| Send international payments | Send to 160+ countries, 40+ currencies | Send to 200+ countries in 90+ currencies |
| Multi-currency account options | Hold AUD and 40+ other currencies | Receive and hold 20+ currencies including AUD |
| Debit cards available | Y – the Wise international debit card
Physical and virtual cards – physical cards can be used in an ATM |
Y – the WorldFirst card
Virtual cards only |
| Receive international payments from others | Y – with local or SWIFT account details in 8+ currencies | Y – receive in 20+ currencies |
| Currency risk management services | N | Y – including forward contracts |
| Accounting integrations | Y – Xero, QuickBooks and more | Y – Xero and NetSuite supported |
| Batch payments | Y – to 1,000 people at once | Y – to 200 people at once |
| Fully licensed and regulated | Yes | Yes |
Information correct at time of research – 9th January 2025
So, to summarise:
- Wise offers services to personal and business customers, WorldFirst serves business customers only
- Wise and WorldFirst both serve customers in Australia and many other countries globally
- Wise and WorldFirst both offer international transfers – WorldFirst delivers to more countries and has more available currencies
- Wise has a multi-currency account and card to support 40+ currencies – WorldFirst multi-currency accounts and cards support 20+ currencies
- WorldFirst offers currency risk management services – Wise does not
- Wise and WorldFirst both offer accounting integrations
- Wise has batch payments to 1,000 people at once, WorldFirst batch payments go to a maximum of 200 people
- Both providers are fully regulated and safe to use
The important bits
Before you pick the right provider for your next transfer, compare costs, rates, safety and service:
| Wise | WorldFirst | |
|---|---|---|
| Rates | Mid-market exchange rate with no markup | Exchange rates include fee which depends on currency and the transaction type |
| Transfer fees | Variable fees, depending on destination | Variable fees, depending on destination |
| Speed | More than 45% of payments are instant, 90% arrive in 24 hours* | 80% arrive on the same day |
| Service | Online, in app and by phone | Online, in app and by phone |
| Safety | Fully regulated and licensed | Fully regulated and licensed |
| Reviews (TrustPilot) | Trustpilot score: 4.3/5,Excellent rating, from 245,000+ reviews | Trustpilot score: 4.3/5,Excellent rating, from 326 reviews |
Information correct at time of research – 9th January 2025
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
Rates: Wise uses the mid-market rate, WorldFirst has an exchange fee which depends on the currency and transaction
Fees: Wise and WorldFirst both have variable fees for international transfers which depend on where you’re sending to and how you pay
Speed: Wise payments can be instant, with 90% arriving in 24 hours. 80% of WorldFirst transfers arrive in 24 hours
Service: Both providers offer multilingual service in a range of languages, online, in-app and by phone
Safety: Both providers are fully licensed and regulated.
Reviews: On Trustpilot, both get an Excellent rating, although Wise has many more reviews listed
Pros and cons
| Wise | WorldFirst |
|---|---|
| ✅ Hold 40+ currencies, send to 160+ countries
✅ Mid-market exchange rates, and low, transparent fees |
✅ Hold and receive 20+ currencies ✅ Issue debit cards to your team ✅ Send to 200+ countries in 90+ currencies ✅ 80% of payments arrive in 24 hours ✅ Safe and regulated |
| ❌ Variable transfer fees ❌ Delivery times depend on destination |
❌ Fees apply for currency exchange, on top of the transfer fee you pay
❌No personal accounts available |
The verdict: Which is better, Wise or WorldFirst?
Wise and WorldFirst are both great options – so which is best for you might depend on what you’re looking for.
Wise offers personal services as well as business accounts, and you’ll be able to hold 40+ currencies, to spend in 150+ countries with your debit or expense card. Business customers get extra perks like accounting integrations and batch payments to up to 1,000 people at a time, too. Because Wise issued physical debit cards you can make ATM withdrawals. Wise stands out for offering the mid-market exchange rate and a transparent pricing structure you can see even without signing up for an account.
WorldFirst supports payments to more countries than Wise, and you may find it easier to receive payments in some less common currencies, compared to with Wise. However, you can’t instantly generate a quote for a transfer without signing up for an account, and the pricing structure – though transparent – can be a bit complicated to navigate. You won’t receive a physical debit card so you can not get cash out from your account.
If you need a personal account, Wise is the better option for you. If you’re looking for a multi-currency business account you may want to compare both, to see which suits you in terms of features, ease of use and cost.
About Wise and WorldFirst
Wise launched in 2011, and today has 16 million+ customers around the world. Wise offers personal and business accounts to hold and manage 40+ currencies, accept payments and spend using a linked Wise debit card. You can also send money to 160+ countries with the mid-market exchange rate and low, transparent fees.
WorldFirst was set up in London in 2004, and now has 1 million+ customers. WorldFirst serves business customers only, and has multi-currency accounts and card services which let you receive and hold 20+ currencies, to get paid by platforms, PSPs and marketplaces easily.
How do they work?
To get started, you’ll need to register with both Wise and WorldFirst, as part of the account’s security measures. Once you’re registered you can order a card or cards for you and your team, make transfers and use your local and SWIFT account details to get paid by clients, through websites and using PSPs. You can manage and view your account using just your phone or laptop for convenience.
Read a full guide on how Wise works
Wise vs WorldFirst fees
Let’s look at an overview of the account fees charged by both Wise and WorldFirst.
| Service | Wise | WorldFirst |
|---|---|---|
| Open an account | Free – or pay 22 AUD one off fee for full feature access | Free |
| Order a card | 6 AUD | Free |
| Spend with your card |
|
|
| ATM withdrawals | 2 withdrawals a month, to the value of 350 AUD free – 1.5 AUD + 1.75% after that | Not available |
| Receive a payment |
|
Free |
| Send a payment | From 0.65% | From 0.4% capped at 15 AUD |
| Currency conversion | Mid-market exchange rate | Rates include a variable fee, depending on the currency involved |
Information correct at time of research – 9th January 2025
Wise vs WorldFirst: which is cheaper for international transfers?
When you send an international payment, the total amount you pay will depend on a couple of fees – the transfer fee, and any extra charge added into the exchange rate. Here, Wise and WorldFirst work a little differently.
Wise uses a transfer fee which is split out from the rate used for currency exchange, and then offers the mid-market rate without any costs added. WorldFirst has a transfer fee and a separate, variable currency conversion fee which is a markup added into the exchange rate used. Here’s a summary of the way wise and WorldFirst charge for international transfers:
| Provider | Transfer fee | Currency exchange |
| Wise | From 0.65% | Mid-market rate |
| WorldFirst | From 0.4%, capped at 15 AUD | Rate includes a fee which varies based on the currency (up to 0.6% for major currencies, from 0.67% for others) |
Information correct at time of research – 9th January 2025
We’ll look at the way WorldFirst sets exchange rates in a moment. The fact that both providers set their fees for overseas transfers differently makes it very difficult to compare them. With Wise you can run a model payment online or in the app, to see what your specific transfer would cost, without needing to sign up for an account. With WorldFirst you need to get an account before you can see the costs for your specific transfer. Use this guide to build an overall picture of the services provided by each to decide if it’s worth setting up an account with WorldFirst to check out the cost for transfers.
Wise vs WorldFirst exchange rates
Wise uses the mid-market exchange rate for currency conversion – the one you can find on Google. If you’re sending a payment, converting in your account or spending with your card, the rate is the same.
WorldFirst has a different approach, with varying exchange rate fees depending on the situation. The fees are all very transparent, but you’ll need to read up on the types of payment you make often to decide if it’s good value for your specific needs. Here’s a summary:
| Situation | WorldFirst currency conversion fee |
| Sending a payment in USD, EUR, GBP, AUD, CAD, JPY | Up to 0.6% |
| Sending a payment in any other currency | Variable, from 0.67% |
| Spending with your WorldFirst card – you hold the currency required in your account | No fee |
| Spending a supported currency with your WorldFirst card – you do not hold the currency required in your account | WorldFirst FX rate |
| Spending an unsupported currency with your WorldFirst card | Mastercard rate +1.5% |
Information correct at time of research – 9th January 2025
Wise vs WorldFirst: which is faster?
About 45% of Wise payments arrive instantly, and 90% are there in 24 hours. 80% of WorldFirst payments arrive in 24 hours.
Delivery times depend on many factors including the destination country, and the recipient’s own bank. This can mean that payments take longer than you expect.
Wise vs WorldFirst international transfer limits
WorldFirst doesn’t give blanket details of the transfer limits which apply. You’ll need to check your specific account’s limits in the app.
The Wise per transaction limits are as follows:
- Bank transfers – up to 1.8 million AUD
- Card – up to 18,000 AUD
- PayID – up to 50,000 AUD
- RTGS – no limit
Sending large amount transfers
WorldFirst does not offer information about its payment limits online – you’ll need to check the details specific to your own account in the WorldFirst app when you sign up. Wise has high limits to allow customers to transact freely. Let’s look at how high value payments work with each provider:
Wise high amount transfers
From your bank you can send up to 1.8 million AUD per transfer – lower limits apply to some other payment methods.
Wise also offers volume discounts on fees. If you send more than the currency equivalent of 20,000 GBP a month you could get an automatic discount of up to 0.17%. There’s no need to pre-arrange the fee. Here’s how the Wise high value payment discounts break down:
| Payment volume (GBP) | Discount |
|---|---|
| Under 20,000/month | 0 |
| 20,000 – 300,000/month | 0.1% |
| 300,000 – 500,000/month | 0.15% |
| 500,000 – 1million/month | 0.16% |
| 1 million+/month | 0.17% |
WorldFirst high amount transfers
WorldFirst doesn’t mention its transfer limits on its website. Limits may apply which could be variable depending on the situation – if you’re using the service for higher value payments it may be worth calling them to check what your personal limits may be.
Wise vs WorldFirst: Payment methods
If you want to use Wise to send an international transfer to someone, you can choose from:
- bank transfer
- debit/credit card
- PayID
- send money from your balance
- Real-Time Gross Settlement (RTGS)
With WorldFirst you can pay with:
- bank transfer into your account
- send money from your balance
Wise vs WorldFirst: card
Both providers offer a debit or expense card you can order for yourself or for your team members. However, the way these cards work is different. WorldFirst lets you create up to 25 virtual cards for free. There are no physical cards. Wise has a card fee, but lets you order unlimited cards, plus up to 3 virtual cards for every physical card holder.
| Wise card | WorldFirst card |
|---|---|
|
|
*Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks
Wise vs WorldFirst: Where can you use them?
You can use both cards internationally, wherever the network is available. Bear in mind that there’s no Worldfirst physical card at this point, so you can only use your virtual card to make mobile and online payments. Chip and PIN payments and ATM withdrawals aren’t offered.
Ease of use
- Creating an account: Both Wise and WorldFirst accounts can be opened online or using the provider’s app.
- Making a transfer: Both Wise and WorldFirst international payments can be made online or in the company app.
- Ways to send money: Wise transfers can be funded by bank transfer, PayID, RTGS, Wise Balance, credit or debit card. WorldFirst lets you add money to your account with a bank transfer and pay that way
- Languages: Wise and WorldFirst both support online, using the app, and by phone
- Minimum & maximum amounts: Wise limits from bank accounts in AUD is 1.8 million AUD/transfer. WorldFirst doesn’t specify its limits
Supported currencies
Send money in 40+ currencies to 160+ countries with Wise. Wise accounts can hold 40+ currencies and come with local and SWIFT account details for 8+ currencies.
With WorldFirst you can send money to 200+ countries in 90+ currencies. You can receive and hold 20+ currencies in your account.
Are they safe to send money with?
Both Wise and WorldFirst are safe to use with normal precautions. There are industry level security features built into the app, including manual and automatic anti-fraud tools.
Are they regulated in Australia?
Yes.
Wise is regulated by the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority. It is also a reporting entity with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
WorldFirst is a subsidiary of Ant Group and holds an Australian Financial Services Licence. It is regulated by the Australian Securities and Investments Commission (ASIC), is a designated remittance provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC), and is a member of the Australian Financial Complaints Authority.
Wise vs WorldFirst customer service
To get support from Wise the easiest option is usually starting a chat with a member of the team through the app or online. You can then get help instantly from a team member 24/7, or get connected to the right person to talk to by phone if needed.
You can also get help with WorldFirst through in app chat or email, and new customers in Australia can call for local support on 1800 326 667.
Conclusion: Comparing Wise and WorldFirst
Wise and WorldFirst offer some overlapping services, but they’re not the same. Which is best for you may depend on what you need and your personal preferences.
Wise offers services to both personal and business customers – if you need an account and a card for yourself, Wise will be the better choice. For business customers, Wise has accounts to hold 40+ currencies, with linked debit and expense cards which can be used in ATMs and for mobile and contactless payments, with extra virtual cards for online use. There’s a simple pricing system and you get the mid-market rate for currency conversion.
WorldFirst offers a business account to hold and receive 20+ currencies, with virtual card services. There’s no fee to open an account and many services are free or pretty cheap. However, you’ll find there are a couple of different fees for sending money overseas, and also for spending in an unsupported currency with your card.
Compare both options if you want a business multi-currency account, to see which is best for your specific needs.
FAQ
What is the difference between Wise and WorldFirst?
Wise and WorldFirst are different companies with their own features and fees – which suits you might depend on the service you need. Wise has multi-currency accounts and cards as well as transfers to 160+ countries, and offers personal and business services while WorldFirst has business only accounts which support receiving and holding 20+ currencies.
Which is better: Wise or WorldFirst?
Neither is better – it depends on your needs. If you need a personal account or want a card you can use in an ATM, Wise may be your best bet. If you want broader business services, including multi-currency accounts and payments, compare both to see which is better for your specific needs.
Is Wise or WorldFirst cheaper?
You can’t compare the costs for sending money with Wise and WorldFirst side by side easily, as they structure their fees differently. With Wise you can generate an instant payment quote online or in an app, without needing to sign up for an account. With Worldfirst you’ll need to be a customer already to see the exact amount a payment will cost.
Is Wise or WorldFirst faster?
About 45% of Wise payments arrive instantly, and 90% are there in 24 hours. 80% of WorldFirst payments arrive in 24 hours. Ultimately, with both Wise and WorldFirst, the delivery time depends on many factors including the recipient’s bank processes and the destination country.
How many currencies do Wise and WorldFirst support?
Send money in 40+ currencies to 160+ countries with Wise. Wise accounts can hold 40+ currencies and come with local and SWIFT account details for 8+ currencies.
With WorldFirst you can send money to 200+ countries in 90+ currencies. You can receive and hold 20+ currencies in your account.
