Compare Transferwise to your bank

Is TransferWise that affordable against regular banks?

In the case of, for example, exchanging EUR 1000 to GBP, Transferwise customers regularly pay EUR 4.58 in fees; in the case of Caixa Geral de Depósitos, a Portugal-based incumbent bank, customers might pay up to EUR 80,16 – up to 20 times Transferwise’s fee.

Now, if it needs to be done the other way around (exchanging GBP 1000 to EUR), Transferwise customers regularly pay GBP 3.95 in fees and obtain their money immediately; in the case of Natinowide, one of UK’s incumbent banks, customers might pay up to GBP 20 – up to 5 times Transferwise’s fee. Oh, and the transfer is completed in up to 4 days.

Please refer to the following link for comparing Transferwise’s rates to your regular bank’s current rates.