- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
- Travel Debit Card
- Global Bank Accounts
No matter whether you end up selecting Rewire or TransferWise, you can be sure of getting cost-effective international money transfer services. However, which of the two might work better for you depends on multiple factors. For instance, while TransferWise accepts customers from most countries, the same cannot be said about Rewire.
To look at what customers of both companies have to say, consider turning to Trustpilot, a popular review-based website. The average score of TransferWise on this platform is 9.3 out of 10, with largely positive reviews. Rewire, on the other hand, has mixed reviews, ranging from excellent to bad, and it gets an average score of 5.6 out of 10.
The other aspects you need to consider before selecting either TransferWise or Rewire include:
- Exchange Rates
- Multi-Currency Bank Accounts
- Debit /Travel Cards
- Ease of Use
- Regular Overseas Payments
The fees you need to pay through Rewire or TransferWise may vary depending on multiple factors.
- The currencies involved, the transfer amount, and the mode of payment may affect transfer fees.
- The TransferWise fee tables give you an indication of how much your transfer might cost.
- The TransferWise Borderless Account charges no fees when you add funds or receive money.
- You need to pay nominal fees when converting funds between currencies or withdrawing money to a local bank account through the Borderless account.
- Transfer fees may vary depending on whether you send money to a bank account or a cash pickup location.
- The company notifies you of all applicable fees ahead of time.
Debit /Travel Cards
No matter whether you sign up with TransferWise or Rewire, you can get access to a Mastercard that you may use globally.
- You get a fee-free ATM withdrawal limit of up to £200 every 30 days.
- You pay no transaction fees.
- The card is available for residents of:
- The Rewire Mastercard comes with no transaction fees.
- Nominal fees apply for ATM withdrawals.
Ease of Use
Using the services of either Rewire or TransferWise is fairly simple. Both provide apps for devices that run on iOS and Android.
- TransferWise operates region-specific multilingual websites.
- Depending on your country of residence, you may pay via bank account transfers, debit cards, credit cards, or SOFORT.
- The TransferWise Borderless Account comes with free bank account details in USD, GBP, EUR, PLN, AUD, and NZD.
- The TransferWise Mastercard is made available for individuals and businesses from various countries.
- You may use your Borderless account to set up direct debits in GBP and EUR.
- Access to the Rewire website comes only in English.
- It carries out immediate transfers to some banks in the Philippines.
- You may opt for one business day transfers to India.
- You may send money to bank accounts or physical locations.
Regular Overseas Payments
Choosing either TransferWise or Rewire will do you little good if you wish to set up scheduled transfers, because both do not offer this feature yet. However, you may choose from alternatives such as Currencies Direct, Global Reach Group, CurrencyFair, WorldFirst, and OFX.
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