Wise and TransferGo 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. TransferGo charges a small fee too, plus a modest markup on the exchange rate. On a $1,000 dollar-to-euro transfer, Wise costs about $3.44, while TransferGo costs about $5.99. Wise is usually the cheaper of the two. The tables below 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.
- Wise is usually cheaper. It gives you the real mid-market rate and charges a small, visible fee, which beats TransferGo's fee-plus-markup.
- TransferGo charges a fee plus a markup. Its cost is a small fee plus a markup of about 0.5% on the exchange rate.
- The rate matters. Wise gives you the real mid-market rate; TransferGo adds a markup, so Wise's rate is better.
- On every amount we tested, Wise came out ahead. But always check the modelled table at your exact size.
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 TransferGo charges
TransferGo is a European money-transfer service with low fees and a modest markup. It charges a small fee (around $1) plus a markup of about 0.5% on the exchange rate. There is no monthly limit, and the pricing is steady.
The appeal of TransferGo is low, simple pricing, and it is a popular choice in Europe. The trade-off is the markup: because it is hidden in the rate, the all-in cost works out a little higher than Wise's transparent fee at the real rate.
Head to head, by amount
Wise comes out ahead at every size we tested. Here is the same dollar-to-euro transfer at three sizes.
$1,000
Wise lands near 0.34% all-in, below TransferGo's fee-plus-markup. Wise's transparent fee at the real rate beats TransferGo's markup.
$5,000
At $5,000, both costs scale with the amount, but Wise's percentage stays below TransferGo's fee-plus-markup. The gap holds.
$25,000
On a large send, both costs scale with the amount, but Wise's percentage stays below TransferGo's. The gap is now worth real money.
Who should pick what
Pick Wise if you want the lowest all-in cost and a transparent, visible fee at the real mid-market rate. At every amount we tested, Wise came out ahead of TransferGo, and you always know exactly what you are paying.
Pick TransferGo if you are in Europe and prefer a provider focused on European transfers, or you want low, simple pricing. TransferGo is a solid, cheap choice, and its fee-plus-markup is still well below what a bank charges.
Check Interactive Brokers when a large currency order 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. Wise or TransferGo is simpler for paying another person. See Wise vs Interactive Brokers.
Frequently asked questions
Is Wise cheaper than TransferGo?
Usually, yes. Wise gives you the real mid-market rate and charges a small, visible fee, which works out a little cheaper than TransferGo's fee plus a markup of about 0.5%. Always check the modelled comparison at your exact size to be sure.
Is TransferGo a good option?
Yes. TransferGo is a solid, low-cost European money-transfer service, and its fee-plus-markup is still well below what a bank charges. It is a good choice, especially for European transfers, though Wise edges it on cost.
Why is Wise's rate better?
Because Wise gives you the real mid-market rate and charges its fee separately, while TransferGo adds a markup of about 0.5% to the rate on top of its fee. That is why Wise's all-in cost works out a little lower.
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. TransferGo'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. TransferGo'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), TransferGo 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 22 August 2026.