Wise is the better app overall, scoring 8.6 to 8.3. Wise wins on 4 of the 5 scores, Venmo on 0, with 1 tied.
Travelers, expats and freelancers who send or receive money across borders
Friends and roommates in the US who split dinners, rent and trips
Score by score
The details
| Feature | Wise | Venmo |
|---|---|---|
| Category | Money & Investing | Money & Investing |
| Category rank | #5 of 16 | #13 of 16 |
| Developer | Wise Payments Ltd | PayPal |
| Pricing | Free | Free |
| Usable for free | Yes | Yes |
| iPhone & iPad | ✓ | ✓ |
| Android | ✓ | ✓ |
| Web | ✓ | — |
Common questions
Is Wise better than Venmo?
Wise is the better app overall, scoring 8.6 to 8.3. Wise wins on 4 of the 5 scores, Venmo on 0, with 1 tied.
Which is cheaper, Wise or Venmo?
Wise: No monthly fee; pay per conversion or transfer, from 0.23%; US card costs $9 once. Venmo: Free from balance, bank or debit; 3% with a credit card; instant transfer 1.75%. On value for money, Wise scores higher.
Do Wise and Venmo work on the same devices?
Only Wise runs on Web.
Which is more private, Wise or Venmo?
Wise scores higher on privacy (7.2/10). App Store label lists location, identifiers and other data as used to track you, and links financial, contact, contacts, location and usage data to you. As a regulated money service it verifies your identity.
Strengths and weaknesses
Wise
- Fees and exchange rate shown before you send
- Hold, convert and spend many currencies in one account
- Wise says 77% of transfers now arrive instantly
- Not a full bank, so no loans or overdrafts
- Card, interest and account features vary by country
- App Store label shows data used for tracking
Wise is the easiest way to move money across borders without losing a chunk to poor exchange rates. It uses the mid-market rate and shows its fee upfront, so you know exactly what arrives. The multi-currency account, debit card and jars make travel and freelancing simpler, and in some countries your balance can now earn interest. It is not a full bank, though, and fees on less common routes add up.
Full Wise review
Venmo
- Free to pay friends from balance, bank or debit
- Splitting a bill takes a few taps
- Fun feed with emoji and GIF payment notes
- Only works in the US
- Instant transfers cost 1.75%, up to $25
- App Store label lists usage data used for tracking
Venmo is the quickest way to pay a friend back in the US. Sending from your balance, bank or debit card is free, splitting a bill takes seconds, and the feed of emoji-filled payment notes is half the fun. A 2026 redesign is making privacy settings easier to find, which matters because payments used to be public by default. Instant transfers to your bank cost 1.75%, and Venmo only works in the US.
Full Venmo review
