XE is famous for its exchange-rate data, and it advertises no transfer fee, which makes it look cheap. But XE makes its money on the exchange rate, adding a markup of about 0.75%, and that is where the real cost sits. Wise does the opposite: it gives you the real mid-market rate and charges a small, clearly shown fee instead.
On a $1,000 dollar-to-euro transfer, Wise costs about $3.44, while XE costs about $7.50. 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 XE's hidden markup.
- XE has no fee but a markup. Its cost lives in the exchange rate, about 0.75%, which you won't see as a line item.
- The fee you can see beats the fee you can't. Wise's transparent fee is easier to compare than XE's hidden markup.
- 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 XE charges
XE is best known as a source of exchange-rate data, but it also moves money. Its pitch is simple: no transfer fee on a standard bank-deposit send. The catch is that the cost lives in the exchange rate. XE adds a markup of about 0.75% on major pairs, and more on some exotic ones.
There is no fee to see, which is the appeal, but the markup is the price you pay. Because it is hidden in the rate, it is easy to overlook, which is exactly why we add the fee and the markup together into a single all-in cost.
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 XE's 0.75% markup. Wise's small visible fee beats XE's hidden markup.
$5,000
At $5,000, Wise's percentage fee scales with the amount, but it is still well below XE's 0.75% markup. The gap holds.
$25,000
On a large send, both costs scale with the amount, but Wise's percentage stays below XE's 0.75%. 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 XE, and you always know exactly what you are paying.
Pick XE if you value the brand and its rate data, or you want a simple no-fee experience and don't mind the hidden markup. XE is a trusted name for checking rates, and its pricing is steady, with no limit or weekend surcharge.
Check Interactive Brokers when a large conversion is part of investing, trading or hedging activity inside the brokerage. Its 0.002% Tier I commission with a USD 2 equivalent minimum can be far cheaper than both. Wise or XE is more direct for paying another person. See Wise vs Interactive Brokers.
Frequently asked questions
Is Wise cheaper than XE?
Usually, yes. Wise gives you the real mid-market rate and charges a small, visible fee, which works out cheaper than XE's hidden markup of about 0.75% at every amount we tested. Always check the modelled comparison at your exact size to be sure.
Does XE really charge no fee?
On a standard bank-deposit transfer, XE usually shows no separate fee. But it makes its money on the exchange rate, adding a markup of roughly 0.75% on major pairs. The cost is real; it is just hidden in the rate rather than shown as a charge.
Why is a visible fee better than a hidden markup?
Because you can compare it. A visible fee lets you see exactly what you are paying and weigh it against the real mid-market rate. A hidden markup is folded into the rate, so you can't see it unless you compare the rate you're offered against the mid-market one. That is exactly what our all-in cost does for you.
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. XE's markup varies by currency, 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. XE's markup varies by currency; 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), XE help centre (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.