Wise vs Payz
A side-by-side look at how these two wallets stack up — and which one wins for which job.
| Feature | Wise | Payz |
|---|---|---|
| Score | 4.5 / 5 | 3.5 / 5 |
| Best for | Cheap, transparent international transfers | Established multi-currency wallet for gaming |
| Monthly fee | Free (one-time card fee in some regions) | No standard monthly fee |
| Exchange rate | Mid-market + transparent fee (often <0.5%) | ~2.99% standard tier |
| Send / receive | Low variable fee (~0.33%+) | Free P2P from Gold VIP up |
| Withdrawals | Free up to a monthly cap, then small fee | Varies by method & VIP tier |
| Card | Yes — physical & virtual debit Mastercard | Yes — Mastercard (Silver VIP tier and above) |
| Availability | 160+ countries | 180+ countries |
| Currencies | 40+ currencies | 45+ currencies |
| Regulation | FCA (UK), NBB (Belgium), FinCEN (US) | UK FCA (PSI-Pay Ltd) |
| Founded | 2011 | 2000 |
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
Payz
Payz is the rebrand of ecoPayz, one of the oldest e-wallets (since 2000), run by FCA-regulated PSI-Pay and offering 45+ currencies worldwide with a Mastercard and a tiered VIP programme. Its standout is a ~2.99% FX rate, undercutting Skrill and Neteller, though the best perks and the card are gated behind VIP tiers. A dependable, slightly cheaper alternative for everyday multi-currency use.
Pros
- Long track record (ecoPayz since 2000)
- Lower ~2.99% FX than Skrill/Neteller
- Supports 45+ currencies worldwide
Cons
- Best rates & card gated behind VIP tiers
- Card requires Silver VIP+ status
- Rebrand from ecoPayz still confuses users
The bottom line
Overall, Wise edges ahead with a score of 4.5 versus 3.5 — but the right choice depends on your priorities. Check both against your own country and use case before deciding.