Many people cannot decide whether they should use TransferWise or Xendpay to transfer funds from one country to another. The fact that both companies serve customers in different countries and score well on various parameters makes the decision making process challenging. Luckily, a little ground work simplifies matters.
By taking the TransferWise vs. Xendpay comparison to Trustpilot, you get an indication of what customers of both companies have to say. While TransferWise averages 9.6 out of 10, Xendpay is not far behind, averaging at 8.4 out of 10. This difference in score does not tell the whole story.
Whether you should select Xendpay or TransferWise depends on your individual needs. Read the following sections and decide accordingly:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
TranferWise Live Price Calculator
This section of the Xendpay vs. TransferWise review does not produce a clear winner because there are multiple factors at play.
- The company’s “Pay What You Want” feature lets you decide how much you want to pay as fees for transfers of up to £2,000, or its equivalent in another currency, per annum.
- You might have to pay a delivery fee for transfers to mobile wallets.
- You may also have a payment fee, depending on the mode of payment. Local bank transfers are free and so are debit card payments made in Europe.
- Further details about the company’sfee structure are available online.
- The company charges a percentage of the transfer amount as fees.
- The fee depends on the destination country and the transfer amount.
- The TransferWise fee breakdown table provides additional details.
Ease of Use
Whether you choose Xendpay or TransferWise, the process of transferring funds overseas is simple and easy to understand. Registering with both companies takes little time, and both let you simplify the process by using your Google or Facebook account.
- Xendpay offers services to individuals and businesses.
- Other than English, you can use the Xendpay website in French, Spanish, Polish, and German.
- You can make payments using bank transfers, debit cards, credit cards, and Sofort.
- The company has an app for iOS and it is in the process of developing one for Android.
- You can use the services of TransferWise as an individual or a business.
- The company provides website access in English, German, Spanish, French, Italian, Hungarian, Polish, Portuguese, Russian and Japanese.
- Acceptable modes of payment include debit cards, credit cards, and electronic bank transfers.
- Get a Borderless account to bank like a local in currencies such as USD, GBP, EUR, PLN, AUD, and NZD. Hold funds and transact in over 40 currencies.
- Depending on where you live, you may apply for a Mastercard that comes linked to the Borderless account.
- Using the Borderless account to set up direct debits in GBP and EUR is fairly straightforward.
- TransferWise provides apps for iOS as well as Android.
Regular Overseas Payments
Choosing TransferWise or Xendpay will not benefit you if you plan to schedule transfers ahead of time because neither firm offers this functionality yet. Some prominent names that let you pre-arrange transfers include Currencies Direct, HiFX, OFX, and TorFX.
- Read about TransferWise features and their pro’s and con’s.
- Is CurrencyFair similar to TransferWise?
- Click here to read a comprehensive TransferWise Review.