Luxon Pay vs Wise
A side-by-side look at how these two wallets stack up — and which one wins for which job.
| Feature | Luxon Pay | Wise |
|---|---|---|
| Score | 3.8 / 5 | 4.5 / 5 |
| Best for | High-volume players wanting fast free transfers | Cheap, transparent international transfers |
| Monthly fee | No monthly fee listed | Free (one-time card fee in some regions) |
| Exchange rate | 2% Standard; 1% Classic; 0.5% Premium; 0% Noir | Mid-market + transparent fee (often <0.5%) |
| Send / receive | Free between Luxon Pay users | Low variable fee (~0.33%+) |
| Withdrawals | SEPA free; SWIFT EUR 20 (free on Premium and Noir); ATM 1% | Free up to a monthly cap, then small fee |
| Card | Yes — Luxon Pay Mastercard issued by Monavate UAB | Yes — physical & virtual debit Mastercard |
| Availability | 132 countries (per Luxon) | 160+ countries |
| Currencies | 38 account currencies | 40+ currencies |
| Regulation | card issuer Monavate UAB, authorised by the Bank of Lithuania (licence no. 92); Luxon EU ApS names no licence of its own | FCA (UK), NBB (Belgium), FinCEN (US) |
| Founded | n/a (not stated by Luxon) | 2011 |
Luxon Pay
Luxon Pay is a multi-currency e-wallet run by Luxon EU ApS (Denmark), with 38 account currencies, free transfers between users and a Mastercard issued by Monavate UAB under a Bank of Lithuania licence. Standard-tier users pay 2% on currency exchange and EUR 20 for SWIFT withdrawals; tiers based on quarterly merchant deposits cut FX to 1%, 0.5% or zero.
Pros
- Free vIBAN bank and card deposits
- Free instant transfers between Luxon Pay users
- Free SEPA withdrawals on every tier
Cons
- Tiers depend on quarterly merchant deposits (Classic from EUR 3,000)
- 2% FX and EUR 20 SWIFT fee at Standard tier
- ATM withdrawals cost 1% on every tier
Wise
Wise (formerly TransferWise) is the benchmark for transparent, low-cost international transfers, using the real mid-market rate plus a small visible fee. Its multi-currency account holds 40+ currencies with local account details, making it ideal for freelancers and frequent travellers. It is an e-money provider rather than a full bank, so it lacks credit products and bank-style deposit insurance.
Pros
- Mid-market exchange rate with low transparent fees
- Hold and convert 40+ currencies
- Local account details in multiple currencies
Cons
- Not a full bank (no deposit insurance like a bank)
- ATM withdrawals free only up to a monthly cap
- No credit or overdraft features
The bottom line
Overall, Wise edges ahead with a score of 4.5 versus 3.8 — but the right choice depends on your priorities. Check both against your own country and use case before deciding.