TransferWise vs Monese : Which is Better?

TransferWise icon

TransferWise

TransferWise is an international service to send currencies across countries. Developed by TransferWise LTD

License: Commercial

Apps available for Online Android iPhone iPad

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Monese icon

Monese

Monese is a multi-currency app to transfer money. Developed by Monese Ltd

License: Commercial

Categories: Business & Commerce

Apps available for Web Android iPhone

TransferWise VS Monese

TransferWise (now known as Wise) specializes in international money transfers with a focus on low fees and transparency, making it ideal for users needing to send money abroad. Monese, on the other hand, provides a versatile banking solution with easy account setup and no monthly fees, catering especially to travelers and expatriates.

TransferWise

Pros:

  • Low fees for international money transfers
  • Real exchange rate with no hidden fees
  • Multi-currency account support
  • User-friendly mobile app
  • Quick transfer times

Cons:

  • Limited banking features
  • Not available in all countries
  • Transfer limits for certain currencies

Monese

Pros:

  • Easy account setup
  • Instant currency conversion
  • Cash withdrawal at ATMs
  • Multi-currency account options
  • No monthly fees

Cons:

  • Higher fees for card payments
  • Limited customer support hours
  • No credit options available

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