Compare World First UK vs TransferWise

World First UK Ltd Logo
Trustpilot Rating
Reviews 1,366 | Excellent
 (4.8)

World First UK Ltd is an electronic money institution focused on international money transfers for businesses and individuals. World First UK Ltd offers international money transfers, virtual personal accounts, virtual business accounts, foreign exchange. In 2018 World First UK Ltd had total assets of 485.46 mln GBP, World First UK Ltd generated net income of -4,028,000.00 GBP. Incorporated in the United Kingdom, World First UK Ltd is authorized and regulated by the Financial Conduct Authority.

Transferwise Ltd Logo
Trustpilot Rating
Reviews 94,805 | Excellent
 (4.6)

Transferwise Ltd is an electronic money institution focused on international money transfers. Transferwise Ltd offers prepaid cards, international money transfers, virtual accounts with IBAN to individuals, businesses. In 2019 Transferwise Ltd had total assets of 1,108.80 mln GBP, Transferwise Ltd generated net income of 10.30 mln GBP. Incorporated in the United Kingdom, Transferwise Ltd is authorized and regulated by the Financial Conduct Authority.

World First UK Business Focus
international money transfers for businesses and individuals
World First UK Products
  • virtual personal accounts
  • virtual business accounts
World First UK Services
  • international money transfers
  • foreign exchange

View World First UK Profile +

TransferWise Business Focus
international money transfers
TransferWise Products
  • prepaid cards
  • virtual accounts with IBAN
TransferWise Services
  • international money transfers
TransferWise Clients
  • individuals
  • businesses

View TransferWise Profile +

Compare Money Transfers

World First UK TransferWise
Speed0-4 days0-2 days
Amount Rangen/a1.00 EUR - 1,200,000 EUR
Countries150+ countries60+ countries
Currencies100+ currencies40+ currencies
Sending From
  • bank accounts
  • debit cards
  • Transferwise accounts
  • bank accounts
  • payment cards
Receiving To
  • bank accounts
  • Transferwise accounts
  • bank accounts
  • payment cards
Transfer Options
  • one-time payments
  • regular payments
  • batch payments
  • direct debits
  • large amounts transfers
Make Transfer
 

Transfer Speed

World First UK

Transfer speed with WorldFirst depends on the currency you're sending or buying, the bank used and the size of the transaction.

  • USD, GBP, EUR: WorldFirst usually makes a same-day payment when WorldFirst receives your funds
  • Other currencies: it can take 1-4 days, depending on the currency
  • USD from other countries: can take 1-4 days

TransferWise

Transferwise provides an estimated delivery time for every transfer. In general, the delivery time depends on the following:

  1. Sending and receiving countries and currencies.
  2. Payment method. Some payment methods and faster than the other. For example, card payments are normally instant, while bank transfers take longer.
  3. Transfer initiation time. Transferwise can handle the money during normal banking hours.
  4. Security checks. Sometimes Transferwise needs to verify sender's ID, address as well as other details. Such verification can add extra time to your transfer on top of the initial estimation.

Available Currencies

Sending Methods

World First UK

Debit Card
If you're a private client you can use your debit card to send your money to WorldFirst. This is one of the fastest ways you can pay.
Online/Telephone Banking (Faster Payment)
This usually arrives with us the same day or the following morning.
BACS
A BACS payment takes two working days for funds to arrive. They will be cleared funds on the third day, which is when your payment will be able to leave WorldFirst.
Direct Debit
If you're sending us GBP funds, WorldFirst can collect them by Direct Debit. Once a direct debit is set up, WorldFirst arranges collection of the funds and it is similar to a BACS payment in terms of clearing times.
CHAPS
A CHAPS payment is a same-day payment and will arrive with WorldFirst on the day you send it.
Different Source
WorldFirst can receive funds from an account in a different name to yours, but it will need to verify the source.

TransferWise

Transferwise Account
TransferWise offers instant transfers between TransferWise account holders.
Bank Account
TransferWise allows to send money from a sender's bank account: the sender should send money to TransferWise own bank account in the sender's country.
Payment Card
TransferWise supports sending money from payment cards the same way as from bank accounts.

Receiving Methods

World First UK

Bank Accounts
As worldFirst is making the payment on your behalf, the funds will arrive in your beneficiary's account from WorldFirst and not in your name. There will also be a reference which starts with WFPAY and followed by a sequence of numbers.

TransferWise

Transferwise Account
TransferWise offers instant transfers between TransferWise account holders.
Bank Account
Delivering money to bank accounts is the main receiving method in TransferWise.
Payment Card
TransferWise can deliver CNY to UnionPay card holders based in China.

Transfer Costs

TransferWise

Transfer Fees
How much a particular Transferwise transfer costs depends on three things — the amount being sent, the payment method, and the exchange rate.
Exchange Rate
Transferwise ensures that its customers get mid-market rate — it’s the one banks use to trade between themselves.

Sending Countries

TransferWise

Transferwise offers sending money from a sender's Transferwise account, so sending money is available for all countries where Transferwise Borderless account is offered. Transferwise Borderless account is offered worldwide expect for several sanctioned countries and territories.

Receiving Countries

TransferWise

TransferWise allows to send money to 50 countries, namely:

SEPA-Countries (Europe)
AR Argentina
AU Australia
BD Bangladesh
BR Brazil
BG Bulgaria
CA Canada
CL Chile
CN China
CO Colombia
HR Croatia
CZ Czech Republic
DK Denmark
GE Georgia
HK Hong Kong
HU Hungary
IN India
ID Indonesia
IL Israel
JP Japan
KE Kenya
MY Malaysia
MX Mexico
MA Morocco
NP Nepal
NZ New Zealand
NG Nigeria
NO Norway
PK Pakistan
PE Peru
PH Philippines
PL Poland
RO Romania
RU Russian Federation
SG Singapore
ZA South Africa
KR Korea, Republic of
LK Sri Lanka
SE Sweden
CH Switzerland
LI Liechtenstein
TH Thailand
TR Turkey
UA Ukraine
AE United Arab Emirates
GB United Kingdom
US United States
VN Vietnam
EG Egypt
GH Ghana

Advantages and Disadvantages

Advantages of World First UK Transfers

Support for spot and forward contracts
Available for individuals and business customers
Market updates are available

Advantages of TransferWise Transfers

Broad countries coverage
Available for individuals and business entities
Suitable for large transfers

Disadvantages of World First UK Transfers

Receiving money to bank accounts only

Disadvantages of TransferWise Transfers

Have to open a current account with TransferWise
Receiving money mainly to bank accounts

How TransferWise Transfers Work

1.
Create account
Create and verify your TransferWise account
2.
Enter transfer's details
Provide the recipient’s details and the amount you want to send. Note that the recipient doesn't need a TransferWise account, just a bank account.
3.
Pay for your transfer
Pay by credit or debit card or make a local bank transfer to TransferWise’s bank account in your country. You don't have to link your bank account to TransferWise (unless you’re sending from Canada or the US).
4.
Transfer processed
TransferWise has local bank accounts in countries all over the world. So often TransferWise is able to use money from a TransferWise user sending money the other way around.
5.
Transfer completed
If you provide your recipient’s email address, the recipient will get a notification that the money is on the way.


See Also