Top 6 Wise Alternatives & Competitors in the UK (2025)

Looking for a way to handle international payments? Wise (formerly TransferWise) is a popular option, but it’s not the only one—and it may not be the right fit for every UK-based business.

Whether you’re looking for a different fee structure, better support, or additional business features, this guide breaks down the top Wise alternatives in the UK for 2025.

Here’s a quick overview of our top picks:

• Revolut – Best for UK-based businesses wanting modern banking features, including cryptos
• Statrys – Good for businesses in Hong Kong, Singapore, or BVI with high FX volume and personalised support needs
• Xe Money Transfer – Good for large-scale payments and FX risk management
• Payoneer – Good for ecommerce sellers and marketplace 
• OFX – Good for large international transfers with no transfer fees 
• TransferGo – Good for low-cost UK and Eurozone business transfers and those who want to earn interests

Headquartered in the UK, Revolut is a financial technology company offering digital banking services through a mobile app. It is a restricted banking authorisation in the UK, offering key services such as personal and business accounts, domestic and international transfers, currency exchange, investment options, card services, and more.

To open a business account with Revolut, the business must be registered in the UK, the EEA or the US. Applicants must also reside in the UK, the EEA, Switzerland, Australia, Singapore, or the US.

• Global Access with Local Details: Access IBAN/SWIFT details, and GBP/EUR accounts.
• Transfers & Payments: Send money globally to over 150 locations, and accept payments via QR, links, POS, and cards. Bulk payments are supported for higher-tiered plans.
• Business Cards: Use virtual and physical debit cards for online or in-store payments and ATM withdrawals.
• Integrations: Sync with QuickBooks, Sage, Zapier, Shopify, and more.
• Extra Features: Business API, support for 210+ crypto tokens, and interest earnings on higher plans.

Please refer to Revolut’s Business Account Pricing page to learn more. 

Choose Revolut if:

✅ Your business is based in the UK, EEA, or US and requires international transfers and banking services.

✅ You are a business owner looking to accept payments through various online and offline payment methods.

✅ You are an entrepreneur seeking additional services such as APIs for automating financial operations, as well as crypto and interest-earning opportunities.

Stick with Wise if:

✅ You’re a sole trader or small business looking for straightforward international payment options without navigating tiered plans
✅ You don’t need crypto, investment tools, or APIs—just a simple money transfer for everyday business needs

Statrys is a licensed Money Service Operator in Hong Kong and a small payment institution in the UK that serves over 5,000 businesses registered in Hong Kong, Singapore, and the British Virgin Islands (BVI). 

The platform offers a multi-currency account supporting 11 major currencies for seamless cross-border payments, local payment systems that allow users to pay like a local, and currency management with FX options. It ensures transparent fees and personalised support by providing each user with a dedicated account manager for support.

• Multi-Currency Account: Hold and receive 11 currencies (USD, HKD, CNY, AUD, EUR, GBP, SGD, JPY, CHF, NZD, CAD) 
• Global & Local Payments: Pay worldwide or locally in 12 currencies with lower fees and faster delivery, with no transaction limits. Track SWIFT payments in real-time and download free MT-103.
• FX Services: Access spot and forward contracts based on real-time mid-market rates.
• Integrations: Sync with Xero for automated bookkeeping.
• Business Cards: Virtual and physical prepaid Mastercard® for in-store, online, and ATM use, managed via mobile app.
• Dedicated Account Manager: Get support from a real person—via WhatsApp, WeChat, phone, or email.

Please visit Statrys’ Pricing page to learn more. 

Choose Statrys if:

✅ Your business is incorporated in Hong Kong, Singapore, and the BVI, and you are looking for a primary or secondary business account to streamline transactions in all major currencies.

✅ You regularly make large FX trades.

✅ You are a business owner who values responsive customer support and dedicated account managers for resolving questions or issues.

Stick with Wise if:

✅ You need both personal and business payments on the same platform.

✅ You primarily need a simple way to send and receive international payments and don’t require advanced FX tools.

✅ You don’t plan to register your business in Hong Kong, Singapore, or the BVI 

Xe Money Transfer, founded in 1993 and based in Newmarket, Ontario, is a global money transfer service catering to both individuals and businesses. It supports businesses of all sizes, from startups and small businesses to mid-market enterprises and large corporations.

Xe Money Transfer strongly focuses on currency risk management with a range of foreign exchange (FX) tools, including currency data, forward contracts, limit orders, and more. Serving a wide range of industries—including IT services, retail, manufacturing, travel, and financial institutions—the platform helps businesses with payments, optimises foreign exchange FX strategies, and automates supplier transactions. 

• Global Payments: Send money in 130+ currencies to 190+ countries in 1–5 business days.
• Same Currency Transfers: Pay internationally in the same currency (UK, US, EU, CA)
• FX Tools: Use spot transfers, forward contracts, and limit orders to manage currency risk.
• ERP Integration: Connect with Microsoft Dynamics 365, Sage Intacct, and more.
• Payroll Support: Automate payroll with scheduling, tracking, and API access.

Sending money with Xe Money Transfer comes with little to no fees. Instead, Xe Money Transfer makes money through the currency conversion, which may include a markup.

While Xe Money Transfer's website doesn’t provide a detailed fee breakdown, all applicable fees and exchange rates will be displayed on the application before you complete your transaction.

If you use a credit card for your transfer, your card provider may charge a cash advance fee. Additionally, third-party bank fees may apply, which are beyond Xe Money Transfer’s control and can vary based on the recipient’s country and banking regulations.

Choose Xe Money Transfer if:

✅ You run an established business with large and regular overseas supplier payments
✅ You need FX risk management tools to protect margins on large international transfers
✅ You rely on ERP software like Sage or Microsoft Dynamics for financial operations

Stick with Wise if:

✅ You’re a startup or freelancer looking for a simple, cost-effective international payment solution with no hidden fee.
✅ You want a multi-currency account with debit card access and local account details

Payoneer is a financial service that enables businesses and freelancers to send and receive cross-border payments in multiple currencies through local currency accounts. 

Payoneer offers solutions tailored to freelancers, business owners, and the marketplace across various industries, including ecommerce, IT, marketing, and dropshipping. The platform is known for marketplace integration. They also provide additional services such as mass payouts, loans, cards, and VAT payments. 

• Local Currency Accounts: Get local account details for various foreign currencies, including USD, GBP, EUR, AUD, JPY, HKD, SGD, CAD, and AED.
• Global Payments: Pay suppliers and staff in 190+ countries. Plus, bill clients and receive funds from marketplaces, with withdrawals in over 70 currencies.
• Bulk Payouts: Send up to 1,000 payments at once.
• Business Cards: Spend with a Mastercard® in USD, EUR, GBP, or CAD.
• Integrations: Connect with 2,000+ ecommerce platforms and marketplaces, such as Amazon, eBay, Shopify, and more
• Extra Features: Pay EU VAT and access working capital for growth.

Please refer to Payoneer’s Fees page to learn more. 

Choose Payoneer if:

✅You want a provider who can help you pay your suppliers and contractors, plus, enable you to receive online payments on the same platform.

✅ Your business relies on your website or marketplaces like Amazon, Upwork, or Fiverr and you need payment processing tools.

Stick with Wise if:

✅ You want a simple, user-friendly, more affordable solution for sending and receiving payments across borders

✅ You need a low-cost multi-currency card with no transaction fees for purchases abroad

OFX is an Australian financial technology company founded in 2001 that provides global payment services for individuals and businesses—from small companies to large corporations. The platform supports paying overseas staff and suppliers, as well as processing mass payments.

OFX is recognised for its comprehensive suite of foreign exchange tools, including currency charts and solutions to help clients manage currency risk through spot transfers, limit orders, and forward contracts. It also enables businesses to receive international payments efficiently.

The company operates through legal entities in Australia, the United Kingdom, Singapore, Hong Kong, New Zealand the European Union, the United States, and Canada.

• International Money Transfers: Send payments in 50+ currencies to over 170 countries.
• Currency Management Tools: Use spot transfers, forward contracts, limit orders, and recurring payments to manage FX risk.
• Receive Global Payments: Accept international business payments from clients.
• Mass Payments: Pay up to 500 recipients in one transaction
• Xero Integration: Connect OFX to Xero for smoother, more efficient bookkeeping.

OFX does not charge fees for transfers from the United Kingdom. Instead, it makes money through exchange rate conversions, which are shown upfront before you send funds. Additionally, if you book a transfer over the weekend, it may cost more compared to booking the same transaction on a weekday.

However, third-party banks may apply their own fees before delivering the money to your recipient. These charges can be unpredictable and are not part of OFX's fees.

Choose OFX if:

✅You run a business that regularly sends or receives large international payments and wants competitive fees and rates

✅You need access to FX tools to manage currency risk 

Stick with Wise if:

✅ You need a multi-currency account to hold and manage funds in different currencies

✅You want a business debit card for point-of-sale purchase

Founded in 2012, TransferGo is a UK-based fintech company that offers international money transfers for individuals (TransferGo) and businesses (TransferGo Business), especially across the UK and Eurozone.

TransferGo Business offers solutions such as international payments, business accounts, batch payments, and business savings accounts.

• Multi-Currency Account: Hold, convert, and transfer currencies like EUR, GBP, RON, and PLN from one dashboard.
• International Business Payments: Send money via bank transfer, card, SWIFT, Apple Pay, or Google Pay—supporting 35+ currencies across 60+ countries. Keep an eye on payment status and share tracking links with recipients.
• Batch Payments: Pay up to 50 suppliers or contractors at once. Export data directly for use in accounting tools.
• Business Savings Account: UK-only savings account with daily compounded AER and monthly interest payouts.

Choose TransferGo if:

✅ You’re a UK or Eurozone-based business seeking a cost-effective payment solution, with the possibility of free transfers to a bank account.

✅ You run a UK-based business and want to earn interest on company funds through a dedicated business savings account

Stick with Wise if:

✅ You need broader currency support or operate outside Europe

✅ You want integrated tools like Xero, expense tracking, and local account details in more countries

Wise offers good value for many personal and business users—but it’s not the only option. Depending on your business size, location, and payment needs, one of the above providers may offer more tailored features or better pricing.

It’s best to explore each option carefully and consider what matters most—fees, speed, integrations, or customer support.