TransferWise or Currencies Direct – is one of these companies better than the other? The answer, unfortunately, is not as simple as you may think. There is no denying that both of these specialist money transfer companies provide better exchange rates than banks. However, when deciding between the two, paying attention to individual requirements is crucial.
Both websites provide users access in languages other than English. You can use the TransferWise website in English, German, Spanish, French, Italian, Hungarian, Polish, Portuguese, Russian and Japanese. Access to the Currencies Direct website is offered in French, Italian, Portuguese, Norwegian, Spanish, Swedish, and Chinese.
I’ve put together this Currencies Direct vs. TransferWise comparison with the aim of giving you an easy means to choose between the two. I’ve compared them across these parameters:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Transfer Fees
Both TransferWise and Currencies Direct soar beyond banks in this aspect. The company that works better for you depends on factors such as where you live, the destination country, and the amount you want to transfer.
- You end up paying a nominal percentage of the transfer amount as fees. It can vary depending on the destination country.
- The TransferWise fee breakdown table gives you a clear picture of the cost of your transfer.
- There are no hidden fees.
- Around 90% of international fund transfers through Currencies Direct do not generate fees.
- If the company charges you for a service, it informs you upfront.
Ease of Use
Whether you want to sign up with TransferWise or Currencies Direct, the process is simple, and registration is free. Access to both websites comes in multiple languages and both provide free rate alerts.
- TransferWise simplifies the registration process by letting you use your Google or Facebook account.
- A simple five-step-wizard takes you through the entire transfer process.
- TransferWise accepts payments via bank transfers, debit cards, and credit cards.
- It provides apps for use with devices that run on iOS and Android.
- Registering with Currencies Direct takes no more than a few minutes.
- You can make payments via bank transfers, debit cards, and checks.
- Currencies Direct offers an app for devices that run on iOS.
Regular Overseas Payments
While TransferWise does not yet let you establish regular transfers, Currencies Direct does.
- When CurrencyFair and TransferWise go head to head.. who wins?
- Watch a TransferWise YouTube video on how to apply your exclusive discount.
- Read about TransferWise features and their pro’s and con’s.