While the online world has simplified the ways you can transfer funds overseas, choosing between service providers such as TransferWise or Moneycorp is not always easy. Both companies specialize in the international repatriation of funds, offering services to individuals and businesses alike.
One way to see how these companies fare against each other is to take the TransferWise vs. Moneycorp comparison to real customers. On Trustpilot, TransferWise achieves an average score of 9.6 out of 10. Moneycorp, on the other hand, averages at 8.4 out of 10. These scores show that customers of both companies are largely satisfied with the services they receive.
Whether you should select Moneycorp or TransferWise depends on your individual needs, which can vary according to the following:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Fees that TransferWise or Moneycorp charge depend on multiple factors.
- The fee you pay depends on the Moneycorp website you use.
- If you use the UK-based website, standard payments attract £5 as fees. For express payments, you will be charged £9. If you book a deal over the phone, you will have to pay £15.
- The Australia-based website does not charge any fees for online or over-the-phone transfers.
Ease of Use
This section of the TransferWise vs. MoneyCorp comparison rates both companies equally. You can create a new account with either in a matter of minutes, and you can start trading as soon as the verification of your details is complete.
- You can hasten the registration process by using your Google or Facebook account.
- TransferWise lets you register as an individual or a business.
- You can access the TransferWise website in English, German, Spanish, French, Italian, Hungarian, Polish, Portuguese, Russian and Japanese.
- TransferWise accepts payments via debit cards, credit cards, and electronic bank transfers.
- Get free bank account details in GBP, EUR, USD, PLN, AUD, and NZD through the TransferWise Borderless account.
- Apply for the TransferWise Mastercard if you live in the UK, Switzerland, the EEA (expect Greece), Australia, New Zealand, or Singapore.
- Set up direct debits in GBP and EUR through your Borderless account.
- The company offers apps for devices that run on iOS and Android.
- Moneycorp operates dedicated websites for the U.S., the UK, Spain, Ireland, France, Romania, and Australia.
- Depending on the website you use, you can get access in English, Spanish, French, or Portuguese.
- In some countries, such as the UK, France, Ireland, and Romania, Moneycorp offers services to businesses as well.
- You can transfer as little as £50 or its equivalent in another currency.
- In the UK, Moneycorp provides travel money solutions.
Regular Overseas Payments
This section of the TransferWise vs. MoneyCorp comparison tilts the scale in favor of the latter. MoneyCorp lets you set up scheduled transfers with ease, and you can transfer as little as £250 (or its equivalent in another currency) using the company’s regular payment plan. TransferWise does not offer this service yet.
- Is CurrencyFair similar to TransferWise?
- Read about TransferWise features and their pro’s and con’s.
- Click here to read a comprehensive TransferWise Review.