Wise is one of the cheapest and most transparent ways to send money abroad, and for most people it is the right default. But "best" depends on the transfer. A provider that loses to Wise on a $1,000 bank deposit can beat it on a $50,000 conversion, a cash pickup, or a business payment in three currencies. The honest way to choose is to compare the all-in cost, the fee plus the exchange-rate markup, at your exact amount. The tables use the current mid-market reference; Wise may use an account-holder API estimate, while other providers use stored published fee and markup models rather than live quotes.
- Cheapest for everyday sends: Revolut, which charges only a small spread up to a monthly limit on weekdays.
- Lowest commission model for large investment-linked conversions: Interactive Brokers, subject to execution, account, and withdrawal limitations.
- Best for business and multi-currency: Airwallex, built for companies holding and paying in several currencies.
- Best for cash pickup and speed: Remitly, which pays out in cash to family, often within minutes.
- Best broker without an account: OFX, a low-markup broker for bigger transfers.
The modelled ranking
Here is the full field on a $1,000 dollar-to-euro transfer, ranked by what the recipient actually receives. Wise sits near the top, but it is not always first.
The order changes with the amount and the route, which is why the rest of this guide picks a winner for each job rather than crowning one overall champion.
Cheapest for everyday sends: Revolut
If you send modest amounts on weekdays and can stay within a monthly limit, Revolut's free plan is hard to beat. It gives you a near-mid-market rate with only a small spread (around 0.1% on major pairs), up to roughly $1,450 a month on the Standard plan.
The catches are regional: allowances, overage charges, and out-of-market-hours pricing vary by country and plan. In a weekday-style scenario inside the stored allowance, Revolut can rank below Wise. Read the full Wise vs Revolut breakdown and check the terms shown in your app.
Lowest commission model for a large investment-linked exchange: Interactive Brokers
Wise's percentage fee scales with the amount, while Interactive Brokers charges a 0.20-basis-point Tier I commission with a USD 2 equivalent minimum. That can produce a lower commission estimate as the conversion grows.
On a $10,000 exchange tied to investing, trading or hedging inside the brokerage, the IBKR commission row is below the Wise remittance estimate. That does not include the buying-versus-selling price difference, slippage, withdrawal costs or intermediary deductions; a USD 10,000 order is also below IBKR's standard USD size and is an odd lot. See Wise vs Interactive Brokers.
Best for business and multi-currency: Airwallex
If you are paying suppliers or staff in several currencies, a personal transfer app is the wrong tool. Airwallex offers multi-currency accounts and converts at the interbank rate plus about 0.5% on major currencies, with cheap local payouts.
It is built for businesses, so the onboarding and the features (holding balances, paying in bulk, local account details) are aimed at companies rather than a single family transfer. For that job, it beats Wise's personal product on both cost and convenience.
Best for cash pickup and speed: Remitly
Wise pays into bank accounts and a few wallets. If your recipient needs cash in hand, Remitly is the better fit. It pays out at local agents on many routes to family, often within minutes on its Express option.
Remitly costs more than Wise on a bank deposit, because it adds a fee and a markup of about 1.9% from the first dollar. You are paying for reach and speed, not for the lowest price. For a cash send to family, that is often money well spent. See Wise vs Remitly.
Best broker without an account: OFX
If you want a broker's low markup without opening a trading account, OFX is the middle path. It charges no fee on larger transfers and makes its money on a modest markup of about 0.75%.
OFX is aimed at bigger transfers, and it can be cheaper than Wise on a large sum, though it does not match Wise's simplicity for a small, quick send.
The pattern at a glance
At $10,000 the bars show the shape of the field: the brokers and the spread-only apps sit low, the transfer providers higher, and a typical bank (off this chart) would sit past 3%. The next chart breaks that same transfer into the visible fee and the hidden rate cost.
The savings in context
Across the displayed estimates, choosing Interactive Brokers over MoneyGram leaves an extra €326.11 (3.93%) in the recipient's account.
Same 10,000 USD and the same market rate before fees. Provider availability, how you pay and the final price can change the result.
How to choose
For a small, routine send into a bank account, use Wise, or Revolut if you can stay inside its monthly limit on a weekday. Both are cheap and simple.
For a large conversion tied to an investment, trade or currency hedge, check Interactive Brokers first when the pair is supported. Its spot-currency commission can be much lower than Wise's percentage fee. OFX is the more direct choice when somebody else must be paid.
For a business payment in several currencies, use Airwallex (or a similar multi-currency account). A personal app is the wrong tool for the job.
For cash pickup or an urgent send to family, use Remitly or Western Union. You will pay more than a bank deposit, but you are buying reach and speed.
Whatever you pick, compare the all-in cost, not the advertised fee. A bank would take 3% or more on the same transfer, so any of the above is the cheaper habit. Our guide to cutting FX fees shows how to read a quote so nothing is hidden from you.
Frequently asked questions
What is the best alternative to Wise?
It depends on the transfer. Revolut can rank well inside a regional monthly allowance, Interactive Brokers can show a low commission estimate when the exchange supports investing, trading or hedging in the account, Airwallex focuses on business payments, and Remitly supports cash pickup. Wise remains a broad option for a typical bank-deposit transfer.
Is anything cheaper than Wise?
Yes, in specific cases. Revolut can be cheaper for a small weekday exchange inside its allowance, while Interactive Brokers can be dramatically cheaper when a large supported conversion funds an investment, trade or hedge in the account. Wise remains one of the strongest broad choices for a straightforward payment to another person.
Is Wise still worth using?
For most people, yes. Its strength is consistency: the real exchange rate, a transparent fee, no monthly limit, and no weekend surcharge. The alternatives above beat it only in particular situations, so Wise is still the sensible default if you do not want to think about it.
Are these numbers exact?
The table uses the current mid-market reference and, where available, a Wise account-holder API estimate. Other providers use stored published fee and markup models, not live quotes, so the results are modelled estimates for typical routes. Revolut's limits vary by region, Remitly's pricing varies by route and speed, and broker costs vary by amount. Always confirm the final figure on the provider's own site before you send.
Cost figures are worked out from each provider's published fee structure applied to the current mid-market reference rate, modelled estimates for typical major-currency routes. Revolut's fair-use limits, Remitly's route pricing, and broker costs vary; the figures shown are representative. Always confirm the final quote on the provider's own site before you transfer. We may earn a commission from affiliate links at no extra cost to you; this never affects rankings. Nothing here is financial advice.
Sources: Wise pricing (opens in a new tab), Revolut exchange fees (opens in a new tab), Interactive Brokers commissions (opens in a new tab), IBUK and IBLLC Client Agreement (opens in a new tab), Airwallex pricing (opens in a new tab), Remitly pricing (opens in a new tab), OFX pricing (opens in a new tab). Accessed 22 August 2026.