Is Wise the Best Way to Send Money Abroad in 2025?
Benjamin Clark - 2025-08-28 16:41:28.0 14
When it comes to international money transfers, Wise (formerly TransferWise) is one of the most recognized names. With its promise of low fees, transparent pricing, and competitive exchange rates, it’s no surprise that millions of people rely on it. But in 2025, is Wise still the best money transfer app, or are there better and cheaper alternatives to Wise like Panda Remit?
Wise Review 2025: What Makes It Popular?
Wise is a UK-based fintech platform founded in 2011, designed to make cross-border payments simpler and cheaper than banks. It supports over 50 currencies and allows transfers to more than 160 countries worldwide.
The biggest selling point of Wise is that it uses the mid-market exchange rate (the real rate you see on Google) without adding hidden markups. This transparency has made Wise one of the most trusted apps for people sending money abroad.
Wise Fees and Exchange Rates
Wise uses a percentage-based fee structure, which means costs increase with the transfer amount. For example:
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Sending $1,000 from the US to Europe can cost $6–10 in fees, depending on the payment method.
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Larger transfers may become more expensive compared to fixed-fee competitors.
While Wise’s fees are still lower than traditional banks, frequent users looking for the cheapest way to send money internationally may want to compare alternatives.
Wise vs Panda Remit: A Side-by-Side Comparison
| Feature | Wise | Panda Remit |
|---|---|---|
| Founded | 2011, UK | 2018, Singapore |
| Coverage | 160+ countries | 40+ countries and regions |
| Exchange Rate | Mid-market rate | Competitive rates, often enhanced for promos |
| Fee Structure | Percentage-based (higher for large transfers) | Fixed low fees (better for large amounts) |
| Transfer Speed | 1–2 business days | Often instant or within minutes |
| Payout Options | Bank accounts only | Bank accounts, Alipay, WeChat Pay |
| Promotions | Rare | Zero-fee first transfer, coupons, diamond rates |
| Customer Support | Online help center | 24/7 multilingual live support |
Why Consider Panda Remit as an Alternative?
If you’re searching for the fastest way to send money abroad with lower fees, Panda Remit is a strong competitor worth considering.
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Global Coverage: Expanding to more regions worldwide
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Transparent Fixed Fees: No surprises, perfect for large transfers
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Flexible Payouts: Not just banks—supports Alipay and WeChat Pay
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Exclusive Perks: New users enjoy free transfers and diamond exchange rates, while loyal users receive coupons and promotions regularly
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24/7 Support: Real-time assistance whenever you need it
Final Verdict: Is Wise Still the Best Money Transfer App?
Wise remains a reliable and transparent choice for international money transfers in 2025. However, if your priority is lower costs, faster transfers, and more payout flexibility, then Panda Remit is a cheaper alternative to Wise that may better suit your needs.
Before sending money abroad, always compare Wise vs Panda Remit to ensure you’re getting the best exchange rate and lowest fees.
