If you are contemplating whether to use World First money transfers or Transferwise, you have come to the right place. We have created multiple reviews and comparisons in the money transfer business and have a vast knowledge in the field. World First vs Transferwise is not an easy question that you can give an absolute one-word-answer to, so please bear with us and read this comparative analysis carefully.
World First vs Transferwise – Comparative View
Both World First and Transferwise are:
Reliable companies with big trading volumes which are considered large for the international money transfers industry.
Professional in what they do, with comprehensive online systems and good readily available support.
Liked by clients and have received great ratings on client review platforms.
Cheaper than banks with minimal fees and great exchange rates.
Authorised to move money abroad for clients across the globe by multiple jurisdictions.
Transferwise is essentially still a startup. An often discussed on media startup with extremely high valuations which has seen investments from some of the world’s best known funds and angel investors, but it is still a startup which is just getting its recognition and success. World First is an established business with solid roots which has been very profitable for years and could potentially have more stability than Transferwise.
World First has a dedicated currency expert that will walk you through the trade and share the company’s economic predictions on currency trends. He will also guide you on how to minimise potential precipitant fees, and walk you through hedging options like Forward Contracts. Transferwise doesn’t have that functionality, and doesn’t offer Forward Contracts at all – you will be limited to online actions on their online platform.
A World First client who is looking to have a look will be happily invited to the World First offices, located in Westminster (or in 6 other locations in the world, depending on where that client is from). Transferwise does not offer such an option.
World First boasts a new functionality for business clients to enable them to open collection accounts abroad.
World First has more offices abroad, and more local bank accounts as a result of that.
TransferWise can work with US customers. World First is not providing this service anymore.
Transferwise is young, hip, flashy, cheap, transparent and friendly.
World First is reliable, diverse, global and promises to give you better rates than competitors.
The bottom line is that comparing World First and Transferwise is really taking two of the best companies in this industry (both rank in the top 3 best companies overall on InternationalMoneyTransfers.org).
How to choose between Transferwise vs WorldFirst
So far we have written 500 words on this comparison piece and still, there is no definite answer. Which one is better to use?
Use Transferwise if you need to send a low amount of $10,000 or less.
Use World First if you want to send more than $10,000 or eq. abroad.
Looking to use World First?
Use the link below to become eligible for preferential rates with a fixed markup.