Western Union vs Wise: Which is best for you? UK guide

Sending money overseas? Not sure which provider to choose? Two options you may have come across are Western Union and Wise. Both can help you make international transfers.

In this article we’ll compare Western Union vs Wise, so you can see how both providers stack up on fees, transfer speed, currencies, and more.

Western Union vs. Wise: Brief overview

Let’s start with an introduction to both providers.

Western Union is a financial services institution that provides money transfers. You can send money online, via the Western Union app, or from one of the physical branches. It’s free to register for an account, and you can send money online to 200 countries.

Western Union fees depend on where you’re sending the money, how much you’re sending, how you send it, and the delivery method.

Wise is an e-money institution. The Wise Account is a multi-currency account that supports 40+ currencies in 160 countries. Wise uses the mid-market exchange rate and there’s no markup on top and fees are transparent, starting as low as 0.33%*.

Opening an account is free, and with a Wise card, you can also spend in 40+ countries with the Wise card.

Compare Wise and Western Union

Key features

Here are some key features for both Western Union and Wise:

Feature	Wise	Western Union
Transfer fees	From 0.33%* Reduced rates for large transfers.	Free for many digital transfer types Fees for cash and instore services1
Exchange rates	Mid-market rate	Market rate plus a margin on top2
Large transfers	Lower fees from 0.1%* for large transfers over 20,000 GBP (or equivalent). Dedicated support from Wise. Send up to 1,000,000 GBP in a single transfer.	Transfer up to 50,000 USD, EUR, or local equivalent from the UK, France, Germany, Australia, Hong Kong, or the United States. Restricted to bank account transfers only. 5,000 USD, EUR, or local equivalent limit in many other countries.3
Currencies	Hold, convert, send, or spend in 40+ currencies across 160 countries.	130 currencies supported across 200 countries.4
Transfer times	Depends on the currency and route Delivery time ranges from a few seconds to a few days 65% of transfers are instant (under 20 seconds)8 95% of transfers in less than 24 hours.8	Depends on the service. Up to seven days for bank deposits. Mobile and in-person transfers in minutes.5

Wise vs Western Union - Money transfer

A single transfer can include a few different costs. You need to consider transfer fees, exchange rates, and how large transfers are treated before picking a provider. For a quick calculation, use our fees calculator if you want to compare Wise vs Western Union.

Transfer fees

In many cases, there are no transfer fees for sending money with Western Union. But, it depends on where the money is being sent from or to, and how it will be received.

For example, there’s no transfer fee for using your credit or debit card to send £500 to the United States if it’s paid into a bank account.¹

There are no fees for paying with a credit or debit card, instant bank transfer, Google Pay, or bank transfer if your receiver wants the money paid into their bank account. But if you use one of these payment methods and the receiver wants the money as cash, there’s a 99p fee.¹

But, if you send the same amount to the United States as cash, and you pay in cash at a physical store, there’s an additional £33.90 transfer fee.¹

Doing the same cash transfer to Thailand for £500 has a £17.90 transfer fee attached.¹

Providing you stick with digital transfers, you can keep costs down. But this might not always be possible.

📚 Western Union transfer fees

Wise transfer fees are calculated as a percentage of the amount you’re sending. The percentage varies based on the currency, and you can work out exact costs on the Wise pricing page. For smaller amounts of money, there’s a cheap minimum fee. And for large transfers above £20,000, the fee is lower*.

Exchange rates

Along with fees, you also need to consider how exchange rates impact your transfer.

Western Union uses market rates plus a margin on top. These rates are adjusted throughout the day in line with financial markets. For this reason, Western Union’s exchange rates can be less favourable than other money service providers.²

Wise uses the mid-market rate, which is the one banks use to trade between themselves. There’s no mark up on the exchange rate, which usually means the person you’re sending money to could receive more than they would with an alternative exchange rate.

Large transfers

Western Union considers transfers above 15,000 USD as large amounts. With Western Union, you can transfer up to 50,000 USD, EUR, or local equivalent from the UK, France, Germany, Australia, Hong Kong, or the United States. This is restricted to transfers from one bank account to another. In many other countries, the limit is 5,000 USD, EUR, or local equivalent.³

Wise provides dedicated support for large amounts over 20,000 GBP (or equivalent), and you can track your transfer for added peace of mind. You can send up to 1,000,000 GBP in a single, secure transfer, but you’ll need to create a free Wise account and verify your identity first.⁶

Other limits depend on the currencies and payment method used, and you can calculate fees on the Wise large amounts page.

Quick comparison - fees

Let’s imagine you’re sending a bank transfer of £4,000 from the UK to France, as a gift to a relative who’s buying their first car. Here are the fees for Western Union vs Wise, and the amount the recipient would receive.

Provider	Transfer fee	Exchange rate	Recipient receives
Western Union1	£0	1.1647	4,658.71 EUR
Wise7	£13.75	1.1752	4,684.48 EUR

While Western Union doesn’t have a transfer fee in this example, the exchange rate means your recipient would receive less than with Wise. The above rate listed in the table was correct as of 28th April 2025. For the most up-to-date information, we’ve added a live comparison table below:

Currencies

Western Union serves more than 200 countries and supports 130 currencies.⁴ There are physical stores where you can pay in cash, and your recipient can receive the money in cash too.

You can use a Wise account in 160 countries and hold and convert 40+ currencies. With a Wise card, you can pay and withdraw cash worldwide.

Wise vs Western Union: Transfer times

The time it takes to receive a Western Union money transfer depends on the payment and delivery method. Bank deposits can take up to seven business days, delivery to a physical agent location can take minutes, and mobile money transfers are usually delivered in minutes, too. It all depends on the service you pick.⁵

Wise transfer times also vary depending on the currency and countries you’re sending to and from. In Q1 of 2025, 64% of Wise transfers were instant, meaning under 20 seconds. And 95% were completed in less than 24 hours.⁸

Delivery time typically ranges from a few seconds to a few business days, and users can track the transfer from their Wise account.

Main difference between Western Union and Wise

Western Union provides a varied range of transfer options around the world. With physical locations globally, people can pay for and receive transfers in cash.

While in-store payments come with transfer fees, many digital options including bank transfers and credit or debit card payments have no fees. Though many payment methods have no transfer fees attached, Western Union’s exchange rate includes a margin that can increase the overall cost.

Western Union also has a partnership with the Post Office. This means people in the UK can access Western Union services via their local Post Office. There are 4,000 participating Post Office branches, so access to Western Union services is widespread.⁹

Wise offers primarily digital services. With a Wise account you can hold 40+ currencies and convert them. You can also get a linked debit card for global spending and withdrawals. A physical Wise card is available for a one-off fee of £7 or you can use the Wise card virtually, and even add it to your Google or ApplePay wallet for no cost.

Wise uses the mid-market exchange rate and any fees are disclosed upfront, so you can see what the transfer will cost immediately, without any mark-ups or hidden surprises. Fees depend on the currency route but start from as little as 0.33%*.

Same day and instant transfers are available on many popular routes.¹⁰

Sending large amounts? With Wise, you can send large amounts at a discount, too*.

Larger transfers also have lower fees, from 0.1%*. You get dedicated support from an expert team to make sure your large transfer goes smoothly.

Alternative for managing your money internationally

In the past, moving money between countries and currencies could be complicated. The good news is, these days there are more options for international money transfers than ever before. So it’s easier to get your cash from A to B.

While Western Union’s physical branches and Post Office partnership can make international transfers more accessible for those who want to use cash.

With Wise, every transfer uses the mid-market exchange rate. This often means your recipient could receive more than they would with an alternative provider.

Wise also lets you manage conversion yourself, with an account that lets you hold and send in 40+ currencies and spend across 40+ countries using the linked Wise card for only a small, transparent fee*.

You can even track the live exchange rate or set up currency alerts to notify you when the exchange rate is more favourable.

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Sources used:

1. Western Union - send money online
2. Western Union - terms and conditions
3. Western Union - large transfers
4. Western Union - Q4 2024 earnings report
5. Western Union - how long transfers take
6. Wise - guide to GBP transfers
7. Wise - Wise
8. Wise - Q1 2025 Mission Update on speed
9. Post Office - partnership with Western Union
10. Wise - send money

Sources last checked on 1st May 2025