CurrencyFair vs Wise: Fees, Rates & Speed Compared
CurrencyFair
4.3CurrencyFair is a peer-to-peer currency exchange platform offering competitive rates by matching buyers and sellers directly, plus a marketplace for setting your own rate.
Wise
4.3Wise (formerly TransferWise) offers transparent, low-cost international money transfers using the real mid-market exchange rate with no hidden markups.
CurrencyFair and Wise are both popular choices for international money transfers, but they take different approaches. CurrencyFair, founded in 2010 and headquartered in Dublin, Ireland, is best known for large transfers and business payments. Wise, operating since 2011 from London, UK, focuses on transparent, low-cost transfers. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a $500 USD → PHP transfer, Wise delivers ₱1754.85 more to the recipient.
In this comparison
Live comparison: CurrencyFair vs Wise across popular corridors
The table below shows how much the recipient receives when sending through CurrencyFair vs Wise on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | CurrencyFair | Wise | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹95,894.36 | ₹96,077.86 | Wise (+₹183.50) |
| GBP → EUR(£1,000) | €1,144.40 | €1,149.85 | Wise (+€5.45) |
| USD → PHP($500) | ₱29,007.14 | ₱30,761.99 | Wise (+₱1754.85) |
| USD → MXN($1,000) | MX$17,058.66 | MX$17,275.70 | Wise (+MX$217.04) |
| GBP → PKR(£500) | — | ₨186,116.83 | N/A |
| USD → NGN($200) | — | ₦270,124.04 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between CurrencyFair and Wise
CurrencyFair vs Wise: Feature comparison
| Feature | CurrencyFair | Wise |
|---|---|---|
| Overall rating | 4.3/5 (Excellent) | 4.3/5 (Excellent) |
| Fee structure | From €0 (marketplace) to €3 (instant) | Variable fee from 0.41% |
| Exchange rate markup | 0.3% - 0.5% above mid-market | 0% (mid-market rate) |
| Transfer speed | 1-2 business days | Instant to 2 days |
| Supported countries | 150+ | 80+ |
| Supported currencies | 20+ | 50+ |
| Max transfer | $500,000 | $1,000,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card, Apple Pay |
| Delivery methods | Bank Deposit | Bank Deposit, Wise Account |
| Regulators | CBI, ASIC | FCA, FinCEN, ASIC |
| Founded | 2010 | 2011 |
Pros and cons
CurrencyFair
Pros
- Peer-to-peer marketplace for best rates
- No fees on marketplace orders
- Great for large transfers
- Transparent pricing
Cons
- Marketplace orders may take time to match
- No cash pickup option
- Limited currency pairs vs major providers
Wise
Pros
- Uses real mid-market exchange rate
- Transparent fee structure shown upfront
- Multi-currency account available
- Fast transfers to many countries
- Regulated in multiple jurisdictions
Cons
- Credit card payments have higher fees
- No cash pickup option
- Transfer limits may apply for new accounts
When to choose CurrencyFair vs Wise
Choose CurrencyFair if:
- You want the real mid-market exchange rate with no hidden markup
- You need wider country coverage (150+ vs 80+ countries)
- CurrencyFair's strengths (Bank Deposit) match your needs
Choose Wise if:
- You want the real mid-market exchange rate with no hidden markup
- You need a multi-currency account to hold and convert balances
- Wise's strengths (Bank Deposit, Wise Account) match your needs
Verdict: CurrencyFair or Wise?
Cost winner: Wise
Wise wins on cost in 4 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹183.50 more with Wise. Wise achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Wise
Wise is generally faster, with transfers arriving in Instant to 2 days, compared to 1-2 business days for CurrencyFair.
Wider coverage: CurrencyFair
CurrencyFair has broader coverage with 150+ countries and 20+ currencies. CurrencyFair also offers Bank Deposit.
Bottom line
Overall, Wise edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, CurrencyFair is the better pick if you need large transfers and business payments.
Frequently asked questions
Is CurrencyFair or Wise cheaper for international transfers?
Based on our data, Wise is generally cheaper across most corridors. Wise charges Variable fee from 0.41% with a 0% (mid-market rate) exchange rate markup, while CurrencyFair charges From €0 (marketplace) to €3 (instant) with a 0.3% - 0.5% above mid-market markup. For example, on a $1,000 USD → INR transfer, Wise delivers ₹183.50 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, CurrencyFair or Wise?
CurrencyFair typically completes transfers in 1-2 business days, while Wise takes Instant to 2 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are CurrencyFair and Wise safe to use?
Yes, both are regulated money transfer services. CurrencyFair is regulated by CBI, ASIC and has a 4.3/5 Trustpilot rating. Wise is regulated by FCA, FinCEN, ASIC with a 4.3/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for CurrencyFair vs Wise?
CurrencyFair has a maximum transfer of $500,000 (minimum $50), while Wise allows up to $1,000,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with CurrencyFair or Wise?
CurrencyFair offers Bank Deposit. Wise offers Bank Deposit, Wise Account. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use CurrencyFair or Wise to send money internationally?
For most users, Wise offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, CurrencyFair is the better choice if you need large transfers and business payments. The best provider for you depends on your corridor, transfer size, and whether you need features like Wise Account.