Wise vs WorldRemit – A Full Comparison 2025

Wise and WorldRemit are both non-bank specialists in international payments, serving customers in Australia. WorldRemit is a specialist in transfers only, and offers an impressive selection of ways to pay out money, including cash collection and delivery as well as bank deposits. Wise on the other hand has transfers to bank accounts, among other international services including multi-currency accounts and debit cards.

This Wise vs WorldRemit review walks through all you need to know about their features, fees, services and safety, to help you choose.

Summary: Wise has multi-currency accounts you can use to receive, hold, send, spend and exchange 40+ currencies, and lets you send money to 160+ countries with the mid-market exchange rate and low, transparent fees. WorldRemit doesn’t have holding accounts, but offers transfers to 130+ countries, with great payout options which can help you to get money to loved ones, even if they don’t have easy access to a bank.

Wise Vs WorldRemit: side by side

We’ll dive into the details of how Wise vs WorldRemit work throughout this guide. First let’s take a head to head comparison on a few important features.

Information correct at time of research – 9th January 2025

So, to summarise:

• Wise offers services to personal and business customers, WorldRemit serves personal customers only
• Wise and WorldRemit both serve customers in Australia and many other countries globally
• Wise and WorldRemit both offer international transfers – Wise delivers to slightly more countries and has more available currencies
• Wise supports more methods of paying for your transfer compared to WorldRemit
• Wise transfers go to bank and mobile money accounts, WorldRemit offers these services, and also cash pickup and delivery and airtime top up services
• Wise has a multi-currency account and card to support 40+ currencies – WorldRemit does not have this service
• 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:

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, WorldRemit has an exchange rate markup

Fees: Wise and WorldRemit 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. WorldRemit transfers can take just minutes, but this depends on the destination

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, Wise gets an Excellent rating, WorldRemit  scores an Average rating

Pros and cons

The verdict: Which is better, Wise or WorldRemit?

Both providers offer a really strong range of services – which is best might just depend on what you need.

If you want a digital account to hold, exchange, receive, send and spend foreign currencies, Wise may be the best option, with multi-currency accounts that support 40+ currencies for holding and exchange, with cards you can use to spend in 150+ countries.

If you’re specifically looking to make an international payment, compare both options. Wise customers can send money to 160+ countries with the mid-market exchange rate and low, transparent fees. Payments go to bank and mobile money accounts only. WorldRemit offers 130+ supported destinations, but has a real strength in the range of ways the money can be received at the other end. You can use WorldRemit to send money to be collected or delivered in cash, or to top up someone’s phone airtime, for example, as well as sending to a bank.

About Wise and WorldRemit

Wise launched in 2011, and 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.

WorldRemit was set up in 2010, and lets you send payments to 130+ countries, in a broad selection of currencies. WorldRemit does not support business payments but does offer great ways to get money into the hands of loved ones overseas, even if they don’t have a bank account or ATM nearby.

Read a full WorldRemit review here

How do they work?

Both Wise and WorldRemit require you to register and be verified before you use the service to send money. You can do this with your phone or laptop, and a few ID and address documents. Once you have an account you can then set up a digital payment in just a few steps.

With Wise you can send money to bank and mobile money accounts, and pay for the transfer from your bank or card, from your Wise balance, or using other methods like Apple Pay. With WorldRemit you can send money to a bank or mobile money account, to be collected or delivered in cash, or as airtime top up. You’ll need to pay with a card or Apple Pay.

Both providers are quick, so your recipient may have their money in just a few minutes. Ultimately the delivery time depends on the specific details of your payment, and some transfers may take a day or two to arrive.

Wise vs WorldRemit fees

For international payments, both Wise and WorldRemit use a variable fee which can change depending on how you want to pay, where you’re sending money to and the value of the transfer. The way you want the money to be received may also make a difference with WorldRemit.

Wise splits its costs from the exchange rate offered, so you’ll see your funds converted to the currency you need with the mid-market rate, and the fee as a separate line. WorldRemit doesn’t hide any fees, but you may find there’s a small cost built into the exchange rate you’re shown, as well as any relevant transfer fee.

Wise vs WorldRemit: which is cheaper?

Using a specialist non-bank service to send money can often be a cheap, convenient and fast option. However, different providers use their own fees so you still need to shop around a bit to find the right one for you.

When you send money overseas you may pay a transfer fee, and there may also be a fee included in the exchange rate that’s used to convert your dollars to the currency needed for deposit. That means that the best way to compare options is to look at the amount your recipient would get in the end using different providers. Here are a couple of examples to illustrate.

In this example we imagine we’re sending a payment to someone in the US, paying by bank transfer, and the money is to be deposited into the recipient’s bank account in USD.

Information correct at time of research – 9th January 2025

*WorldRemit rounds down the send amount to 4,999.98 AUD, to achieve a round number outcome in USD for depositing

As you can see, in both of these examples, the recipient gets more with Wise. This is because Wise uses the mid-market exchange rate for currency conversion without adding in any fee. In fact, in these examples, WorldRemit has a 0 AUD transfer fee, while Wise does apply a transfer fee – 6.02 AUD for the smaller payment, and 21.95 AUD for the larger. Despite deducting a fee, the recipient gets more in the end with Wise, because the exchange rate used is favourable compared to WorldRemit.

Ultimately, there’s not a huge difference in the amount the recipient gets in these examples, so the best choice for you might come down to your personal preference.

Wise Vs WorldRemit exchange rates

The rate used for currency exchange makes a huge difference to the amount the recipient gets in the end, as we just saw. When it comes to currency conversion, Wise uses the mid-market rate – which is the one you’d find on Google or with a currency converter app. WorldRemit adds a small markup to this rate to calculate the retail rate used to convert your funds. While the difference is pretty small, as an absolute cost, it stacks up quite quickly on higher value payments.

Wise Vs WorldRemit: which is faster?

About 45% of Wise payments arrive instantly, and 90% are there in 24 hours. WorldRemit payments usually arrive in minutes. Both providers show you a delivery estimate before you confirm your transfer so you should know what to expect.

Ultimately, with both Wise and WorldRemit, the delivery time depends on many factors including the destination country, public holidays at home and in the recipient’s country, and the pay out method you’ve selected. This can mean that payments take longer than you expect.

Wise vs WorldRemit international transfer limits

Both Wise and WorldRemit apply some limits to the amount you can send, to make sure your account is kept safe. In both cases, limits are set according to different factors like the way you pay, and where you’re sending money to. Here’s an outline of the limits which usually apply:

Sending large amount transfers

Both providers let you send a relatively large amount per day or per transaction, although the limits are higher for Wise customers. 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 – however your own bank may have lower limits than this, so you’ll need to check their rules too. You’ll need to provide some supporting documents for a high value payment, to prove the money was legitimately sourced – you’ll be helped through this process by a team member if it’s required.

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:

WorldRemit high amount transfers

WorldRemit’s transfer limits are lower than Wise – at 50,000 AUD per day, which you would need to split into multiple transfers.

WorldRemit does not market volume discounts on fees or exchange rates, but if you’re using the service for frequent higher value payments it may be worth calling them to check if there’s a good deal to be had.

Wise vs WorldRemit: 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 WorldRemit you can pay with:

• Debit, credit or prepaid cards
• Apple Pay

Wise vs WorldRemit business

WorldRemit does not offer business services. Wise offers business accounts and payments. Here are some of the Wise Business features you might be interested in:

• Accounts hold and exchange 40+ currencies
• Send in 40+ currencies to 160+ countries
• One time fee to open account, no ongoing fees
• Get paid with local and SWIFT account details in 8+ currencies
• Order debit and expense cards for you and your team

Ease of use

• Creating an account: Both Wise and WorldRemit accounts can be opened online or using the provider’s app.
• Making a transfer:  Both Wise and WorldRemit 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.  WorldRemit offers card payments and Apple Pay.
• Languages:  Wise offers global support in a range of languages, online, using the app, and by phone.  WorldRemit has a 24/7 service in 6 languages.
• Minimum & maximum amounts:  Wise limits from bank accounts in AUD is 1.8 million AUD/transfer.  WorldRemit has limits on single transactions, and on total payments in 24 hours. These limits vary by payment type. If you pay with Apple Pay, you can send up to 5,000 AUD in one transfer and up to 50,000 AUD in 24 hours.

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 WorldRemit you can send money to 130+ countries with a very broad range of currencies – check out the dropdown list on the WorldRemit website to get the full currency listing.

Are they safe to send money with?

Both Wise and WorldRemit are safe to use with normal precautions. Both offer a thorough verification process and secure login requirements, to make sure only you can access your account. Plus they both have anti-fraud measures built into their apps and websites. You can get in touch with customer services with the provider you prefer if you ever have questions or concerns about a transaction.

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).

WorldRemit is Authorised and Regulated by the Australian Transaction Reports and Analysis Centre.

Wise vs WorldRemit customer service

You can get 24/7 support from both Wise and WorldRemit by logging into your account online or in the provider app and starting a chat with a member of the team. Both services also offer multi-lingual support if you need it.

Conclusion: Comparing Wise and WorldRemit

Choosing between Wise WorldRemit may come down to the services you need – and for international payments, where you’re sending money to, and how you want it to be received.

Wise offers international payments to 160+ countries as well as multi-currency accounts and cards, with services for businesses and individual customers. If you need an account or card, or want to make a business payment, Wise may be your best bet.

On the other hand, if what you need is a payment overseas, WorldRemit offers a broad range of payout methods, including cash collection from agents around the world. In our comparisons for payments to a bank account Wise ended up cheaper than WorldRemit – but there’s not much in it, so comparing both for your specific payment is your best bet.

FAQ

What is the difference between Wise and WorldRemit?

They’re both different companies with their own focus – which suits you might depend on the service you need. Wise has multi-currency accounts and cards as well as transfers to 160+ countries, while WorldRemit has a focus on digital transfers with an excellent range of payout methods.

Which is better: Wise or WorldRemit?

Neither is better – it depends on your needs. If you need a multi-currency account and card, or want business services, Wise may be your best bet. If you want to transfer money, compare both to see which is better for your specific needs.

Is Wise or WorldRemit cheaper?

In our comparison, Wise was cheaper for payments to a bank account. However, there wasn’t a huge difference, so comparing the options for your specific transfer is still a smart choice.

Is Wise or WorldRemit faster?

About 45% of Wise payments arrive instantly, and 90% are there in 24 hours. WorldRemit payments usually arrive in minutes. Ultimately, with both Wise and WorldRemit, the delivery time depends on many factors – but both providers show you a delivery estimate before you confirm your transfer so you should know what to expect.

How many currencies do Wise and WorldRemit 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 WorldRemit you can send money to 130+ countries with a very broad range of currencies.