Money Transfer (Geldüberweisung)
Wise (formerly TransferWise) Review (2026)
Best for: Anyone sending money internationally who wants the best exchange rate and full transparency
Setup fee
€0.00
Monthly fee
Free
Setup time
Create account in 5 minutes; first transfer may need ID verification (1-2 days)
Languages
EN, DE, FR, ES, PT, ZH
Mobile app
Yes (4.7/5)
Key Features
- Mid-market exchange rate — zero markup
- Low transparent fees from 0.41% (varies by corridor)
- Send to 80+ countries
- Multi-currency account: hold 50+ currencies
- Wise debit card for spending abroad at real rate
- Instant transfers on many corridors
- Recurring transfers for regular payments
- Business account available
- Full English app and support
Limitations
- Fees vary significantly by currency corridor
- Large transfers may require additional verification
- Cash pickup not available (bank transfer only)
- Some corridors slower than dedicated remittance services
- Wise card has limited ATM free withdrawal (2 per month)
Pricing Plans
Personal Account (Free)
Free
- Free account — no monthly fees
- Pay per transfer (from 0.41%)
- Multi-currency account (50+ currencies)
- Wise debit card (optional, one-time €7 fee)
- Real mid-market exchange rate
Eligibility
Who can use Wise (formerly TransferWise)?
| Requirement | Status | Notes |
|---|---|---|
| nationality: non eu | Accepted | Available to all nationalities |
| nationality: eu citizen | Accepted | — |
| visa type: student visa | Accepted | — |
| visa type: language course visa | Accepted | — |
| visa type: job seeker visa | Accepted | — |
| language: no german required | Accepted | Full English |
| credit check: schufa not required | Accepted | No SCHUFA needed |
About Wise (formerly TransferWise)
Wise is the gold standard for international money transfers. They use the real mid-market exchange rate (no markup) with low transparent fees starting from 0.41%. Hold and convert 50+ currencies in one account. Used by 16+ million people worldwide.
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Alternatives to Wise (formerly TransferWise)
PayPal
Setup: €0 | Monthly: €0.00
Small, occasional transfers where both parties already have PayPal — unmatched convenience
Remitly
Setup: €0 | Monthly: €0.00
Sending money to family in India, Philippines, Nigeria, Pakistan, or Latin America — fast delivery
Western Union
Setup: €0 | Monthly: €0.00
Sending cash to recipients without bank accounts in remote locations worldwide
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