HiFX vs TransferWise. Both are great with their global reach and services when it comes time to choosing your overseas money transfer partner. They both rate over 9.5 / 10 on TrustPilot by thousands of active customers.
HiFX has different sites depending on where you reside. UK and European customers should go to HiFX.co.uk. Australia and NZ residents should visit HiFX.com.au and HiFX USA customers should visit HiFX.com.
To help you compare the HiFX and TransferWise money transfer service, this page is divided into categories that are important if you are considering sending money overseas with either of these providers. HiFX vs TransferWise… which one will you choose?
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
HiFX transfer company has a simple fee structure with a set fee below a threshold and no fees above. TransferWise’s fee structure is only slightly more complicated. It changes depending on the amount you transfer as it is based on a percentage of your transfer amount. Which provider gives you higher net savings or, put another way, charges lower fees compared to the big banks depends on the destination country, transfer amount, and other factors.
- USD$5 fee under USD$5,000.
£9 fee under £3,000.
- No more fees on HiFX UK international money transfers.
- €10 fee under €3,500.
- Australian Dollars – AUD$10 under AUD$10,000.
- New Zealand Dollars – NZD$12 under NZD$10,000.
- Please refer to HiFX.com or HiFX.co.uk or HiFX.com.au for the latest fee structure in respect to maximum and minimum transfer amounts.
- TransferWise charges a percentage of the amount transferred but it varies depending on the country.
- Their fees have a minimum and maximum charge when it comes to currency transfers.
- To learn how much you would be charged by TransferWise, read fee breakdown table.
- Learn how to redeem your exclusive TransferWise Coupon.
Ease of Use
HiFX and Transferwise have simple and straightforward user interfaces and provide good user experiences. HiFX has a slightly more involved interface as it can offer rate alerts and Market Order features.
- Simple signup process.
- Debit and credit cards can be used to transfer money to HiFX. This simplifies and shortens the transfer process.
- No mobile app is available.
- Easy and straightforward signup. Accounts can be created with existing Facebook or Google accounts which reduces the account creation to a single step.
- Simple 5 step money transfer option wizard.
- In addition to a bank account transfer, debit and credit cards can be used to transfer or ‘upload’ your money to TransferWise.
- You may bank like a local in USD, GBP, EUR, PLN, AUD, and NZD by signing up for the Borderless Account.
- Borderless account holders may set up direct debits in GBP and EUR.
- If you live in the UK, anywhere in the EEA (except Greece), Switzerland, the U.S., Australia, New Zealand, or Singapore, you may apply for the TransferWise Mastercard.
- TransferWise has apps for iOS and Android that allow you to transfer money globally from your phone or tablet.
HiFX has a regular overseas currency exchange conversion and transfer facility. This can be arranged by calling HiFX after you set up your HiFX account. TransferWise currently does not support this feature.
- Find TransferWise Alternatives.
- Click here to read a comprehensive TransferWise Review.
- Learn more with this HiFX Review.
- Learn more about the offers from HiFX.