Wise vs. Veem

Veem

Overview
Product	Rating	Most Used By	Product Summary	Starting Price
Wise	Score 9.4 out of 10	N/A	Wise, formerly TransferWise, from the company of the same name headquartered in London, provides international accounts and payment solutions for businesses. Wise helps businesses pay international invoices, vendors, and employees with the real exchange rate, in 80 countries, boasting cheaper rates than traditional banking options. It also helps to make faster, lower-cost payouts to all business customers, freelancers, employees, investors, and suppliers around the world.	$0.02 One time/%
Veem	Score 8.7 out of 10	N/A	Veem, headquartered in San Francisco, offers payment tools to enable businesses to streamline their processes and build business relationships with suppliers and partners all over the world. Through integrations with popular business applications. Veem Local is an online and fee-free option to send, receive, and reconcile business payments within the United States. Veem Cross Border provides access to online global payment tools and pricing and enables users to send, spend, hold and invoice…	N/A

Pricing

Wise

Veem

Editions & Modules

ATM Fees over 100 USD per month: 2%
One time/%
Accounting Funding transactions: 2%
One time/%
Receiving USD wire payments: 4.14 USD
One time/%
Getting the Wise Debit card: 5 USD
One time/%
Getting account details in 10 currencies: 31 USD
One time/%
Sending money: From 0.41%
One time/%
Converting money: From 0.41%
One time/%

No answers on this topic

Offerings

Pricing Offerings
Wise	Veem
Free Trial
No	Yes
Free/Freemium Version
No	No
Premium Consulting/Integration Services
No	No

Entry-level Setup Fee

No setup fee

Additional Details

—

One flat platform fee for all accounts. Get access to all platform features for a flat monthly fee of $14.99 USD ($18.99 CAD). - 2 free transactions per month. Accounts will only be charged after their 2nd completed transaction. - ACH/EFT $0 send/receive - Fast Transfer 0.5% for same or next day ACH - Check (US only) $1.99 to send - Veem Wallet $0 send/receive - International wires $0 fees and competitive exchange rates - Global Credit card 2.9% - Global Debit card 1% - Global Instant deposit 1% – min. $1.50

More Pricing Information

Community Pulse
	Wise	Veem
Considered Both Products	Wise Arpad Szucs Brand Designer \| UI, UX & Visual Designer Chose Wise Wise has great transfer fees, while Stripe has online payment options. We are using both services since Stripe can be connected to our invoicing platform, and our clients can pay us with a few clicks. Wise, as far as I know, does not offer such integration, and all transfers … Incentivized Helpful? Faisal Ahmed Frontend Web Developer Chose Wise I used all of them and some more like Skrill, Neteller. Wise just worked better for me in most cases. Also, I use Payoneer a lot. When I started freelancing I was only using Payoneer, so it's been with me forever. But Wise worked pretty well for me, at least better than Remitly. Incentivized Helpful? Jenson Teo (赵俊杰） Business Development Director Chose Wise Apple Pay has high fees and hidden charges, not easy to use and it does not really support enterprises. It is also not regulated by MAS so we don't feel safe using it. Transferwise account was easy to set up (within minutes), the admin fee is low and the pricing is very … Incentivized Helpful? Verified User Anonymous Chose Wise Stripe is good and convenient as well. However to setup something more in-depth as an invoicing platform, Stripe definitely is more flexible. The only downside to Stripe is.. It takes a higher transfer fee as compared to TransferWise. Incentivized Helpful? CL Connie Lovato Controller Chose Wise Transferwise is less expensive. Incentivized Helpful? Verified User Anonymous Chose Wise With Revolut, taxes are lower (even for free) for small number of transfers and small amounts. It all depends on the individual needs. However, Revolut is worse with regards to user experience and interface, what is something to consider (specially when dealing with the upload … Incentivized Helpful? ES Elaine Smith Producing Artistic Director Chose Wise We considered PayPal payment, ACH bank transfer, and simply mailing a check. TransferWise's fees were much lower than PayPal and our bank. Postage might have been less than TransferWise's fee, but payment could have taken more than a week rather than hours (or days in the case … Incentivized Helpful? Bhabishya Bhatt Content Writer Chose Wise Payoneer Incentivized Helpful? Jason Rutel Creative Director & Owner Chose Wise TransferWise beats all the competition on transaction rates, and it's easy to use. I literally have found no drawbacks in using TransferWise to pay my overseas contractors, and they prefer it too. I found it because my contractor recommended it to me, and it's better AND … Incentivized Helpful? Verified User Anonymous Chose Wise We have used Xoom and PayPal Payments, but TransferWise works for additional countries and has more transparent fees. Incentivized Helpful? Verified User Anonymous Chose Wise We cannot send to certain locations that we need to, but with TransferWise we can. Incentivized Helpful? Dr Olivier Becherel - Leadership and Executive Coaching Mentor & Coach Chose Wise TransferWise has lower transaction fees A better user interface--much cleaner, and simple to use Very simple and smooth process to transfer and receive money Incentivized Helpful? Verified User Anonymous Chose Wise TransferWise was the only solution that we've found that will allow us to facilitate ACH payments that result in an overseas deposit. The fact that you can transfer money to TransferWise and that they can then make a local transfer is awesome. The fees are totally worth it with … Incentivized Helpful? Marcelo de Vasconcellos Senior Visual Designer Chose Wise We had used bank transfers for several years, but TransferWise outdoes them in almost all aspects. It leaves out most of the bureaucracy, and it is agile and much cheaper. Also, TransferWise reliably sends messages as each step of the transaction is completed. Perhaps … Incentivized Helpful?	Veem No answer on this topic

Best Alternatives
	Wise	Veem
Small Businesses	Square Invoices Score 9.2 out of 10	Square 9 Softworks Score 9.1 out of 10
Medium-sized Companies	Apple Pay Score 9.3 out of 10	Square 9 Softworks Score 9.1 out of 10
Enterprises	Checkout.com Score 8.5 out of 10	Webexpenses Score 9.2 out of 10
All Alternatives	View all alternatives	View all alternatives

User Ratings
	Wise	Veem
Likelihood to Recommend	9.0 (0 ratings)	- (0 ratings)
Support Rating	10.0 (0 ratings)	- (0 ratings)

User Testimonials
	Wise	Veem
Likelihood to Recommend	Transferwise it is great for transferring money across countries (never for transfers within the same country) and when the countries in question use different currencies. It is very quick, especially if the amount is not big. For larger amounts, it would take longer so it would be good only if you are not time-constraint. Incentivized Verified User Anonymous Read full review	No answers on this topic
Pros	Quick - because funds are transferred domestically, even when going international, you don't have to wait long. Easy - the printout of what information I needed to give the sending bank was complete and easy to understand. Affordable - the fees on both ends were minimal. Incentivized Sarah Daggett Systems Manager Read full review	No answers on this topic
Cons	TransferWise (at the time of this review) does not allow one to transfer money to all kinds of business accounts. This can be a limitation for people who want to use it as a way to pay directly for goods and services. Sometimes it has problems with some credit cards. But the most popular types are accepted without problems. TransferWise accepts fewer currencies than other services. But it seems like this is a temporary problem, and the company is making efforts to support transferences to all of the currencies. Incentivized Marcelo de Vasconcellos Senior Visual Designer Read full review	No answers on this topic
Support Rating	We haven't really had to engage with TransferWise support. The platform is simple and easy to use. Incentivized Verified User Anonymous Read full review	No answers on this topic
Alternatives Considered	Apple Pay has high fees and hidden charges, not easy to use and it does not really support enterprises. It is also not regulated by MAS so we don't feel safe using it. Transferwise account was easy to set up (within minutes), the admin fee is low and the pricing is very transparent (no hidden fee). Lastly, we needed a platform which is safe to use and we are happy to know that Transferwise is regulated by the MAS of Singapore. Incentivized Jenson Teo (赵俊杰） Business Development Director Read full review	No answers on this topic
Return on Investment	We can save around 5% on our transfer fees The online account management is easier than going into banks personally There's no negative impact... Arpad Szucs Brand Designer \| UI, UX & Visual Designer Read full review	No answers on this topic
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