Wise and CurrencyFair are both built to move money abroad cheaply, and both are popular in Europe. Wise gives you the real mid-market rate and charges a small, clearly shown fee. CurrencyFair is an FX marketplace where you can exchange at near-market rates for a small fee plus a modest markup.
On a $1,000 dollar-to-euro transfer, Wise costs about $3.44, while CurrencyFair costs about $7.98. Wise is usually the cheaper of the two in the site comparison. Confirm both recipient amounts before booking because the CurrencyFair rate and Wise fee can change by route and amount.
Price is only part of the difference. Wise is a broad transfer and multi-currency account used by individuals and businesses. CurrencyFair is centred on bank-funded currency exchange, including its marketplace model and tools for people who want to set a preferred rate. Both send to bank accounts rather than cash-pickup locations.
To compare them fairly, add the visible fee to any difference in the exchange rate. Wise applies the mid-market reference and shows a separate fee. CurrencyFair's customer rate can include a margin, and a fixed transfer charge can matter more on a small payment. The recipient amount captures both effects in one number.
How Wise charges
Wise gives you the real mid-market rate and adds a small, clearly shown fee on top, typically 0.33–0.5% plus a tiny fixed charge on major pairs. There is no markup hidden in the rate, no monthly limit, and no weekend surcharge. The number you see at checkout is the number you pay.
That transparency is the appeal. You always know what you are paying, and the rate is the real one. The trade-off is that Wise charges from the first dollar, so there is always a small fee, but it is modest and clearly shown.
How CurrencyFair charges
CurrencyFair is an FX marketplace where you can exchange at near-market rates. It charges a small fee (around $3) plus a markup of about 0.5% on the exchange rate. There is no monthly limit, and the pricing is steady.
The appeal of CurrencyFair is its marketplace model, where you can sometimes get a good rate by matching with another user. The trade-off is the fee-plus-markup, which works out a little higher than Wise's transparent fee at the real rate.
Head to head at two transfer sizes
Wise comes out ahead at every size in the current model. The small and large examples show how the fixed and percentage parts behave without repeating the same result three times.
$1,000
Wise lands near 0.34% all-in, below CurrencyFair's fee-plus-markup. Wise's transparent fee at the real rate beats CurrencyFair's markup.
$25,000
On a large send, both costs scale with the amount, but Wise's percentage stays below CurrencyFair's. The gap is now worth real money.
Both are credible alternatives to a bank, but their strengths differ. Wise is easier when you want a direct quote and immediate transfer. CurrencyFair is worth checking when its live customer rate is competitive, its marketplace tools suit you or you want to set a target rather than exchange immediately. The site model favours Wise, but an actual CurrencyFair quote remains the deciding evidence.
Who should pick what
Pick Wise if you want the lower modelled all-in cost and a fee shown before confirmation. Wise came out ahead at every amount tested here, although the final quote still depends on the route and payment method.
Pick CurrencyFair if you are in Europe and prefer a marketplace model, or you want to try matching with another user for a good rate. CurrencyFair is a solid, cheap choice, though Wise edges it on cost.
Check Interactive Brokers when the currency trade directly supports investing, trading or hedging inside the brokerage. Its 0.002% Tier I commission with a USD 2 equivalent minimum can be far cheaper than both providers on a large supported order. Wise or CurrencyFair is more direct when you simply need to pay another person. See Interactive Brokers vs CurrencyFair.
Frequently asked questions
Is Wise cheaper than CurrencyFair?
Usually in the site's model, yes. Wise shows its fee separately, while the CurrencyFair estimate combines its transfer fee with a representative exchange-rate margin of about 0.5%. Check both providers at your exact size before deciding.
Is CurrencyFair a good option?
CurrencyFair is a credible specialist, particularly for customers who value its marketplace and target-rate tools. The site's model gives Wise a small cost advantage, but an actual CurrencyFair quote can vary by route and market conditions.
Why is Wise's rate better?
Wise uses a mid-market reference and shows its fee separately. The site models CurrencyFair with its transfer fee and a representative exchange-rate margin of about 0.5%, which produces a slightly higher all-in estimate. CurrencyFair's actual customer rate can differ.
Are the fees shown here exact?
No. 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. CurrencyFair's markup varies by route, and Wise's fee varies by route. Always confirm the final figure on the provider's own site before you transfer.
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. CurrencyFair's markup varies by route; Wise's fee varies by route. 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), CurrencyFair pricing (opens in a new tab), Interactive Brokers commissions (opens in a new tab), IBUK and IBLLC Client Agreement (opens in a new tab). Accessed 23 August 2026.