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Wave vs Wise
Wave and Wise are both payment receiving platforms. Fees — Wave: Free deposits and withdrawals, 1% P2P fee. Wise: Low conversion fees at the mid-market rate.
Updated · from each platform’s published fees and payout terms · how we verify
Key differences
- Fees — Wave: Free deposits and withdrawals, 1% P2P fee. Wise: Low conversion fees at the mid-market rate.
- Only Wave offers Agent cash-out and bill pay. Only Wise offers Bank transfer and Debit card.
- Wise is the older platform — founded in 2011, 7 years before Wave (2018).
- Wave is based in Senegal, Wise in United Kingdom.
- Wave focuses on Senegal, Ivory Coast and Mali, while Wise operates internationally.
Which should you choose?
Choose Wave if…
- You want to withdraw via Agent cash-out and bill pay.
- You live in Senegal, Ivory Coast or Mali.
Choose Wise if…
- You want to withdraw via Bank transfer and Debit card.
- You prefer a long track record (since 2011).
Side by side
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Wave
A West African mobile-money app with low fees for receiving and sending money.
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Wise
A multi-currency account with local bank details in 9+ currencies - clients pay you like a local, and conversi…
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|---|---|---|
| Type | Payment receiving like Payoneer | Payment receiving like Payoneer |
| Category | Payments | Payments |
| Vetted | No | No |
| Work from home | No | Yes |
| Fees | Free deposits and withdrawals, 1% P2P fee | Low conversion fees at the mid-market rate |
| Payout speed | Cash withdrawal at Wave agents is free, timing not stated | — |
| Withdraw via | Agent cash-out, bill pay | Bank transfer, Debit card |
| Availability | Senegal + 7 African countries | 160+ countries |
| Local to | Senegal, Ivory Coast, Mali | — |
| Founded | 2018 | 2011 |
| Headquarters | Dakar, Senegal | London, United Kingdom |
| Stock ticker | — | LSE: WISE |
| Popularity | 40 views · 0 likes | 35 views · 0 likes |
Frequently asked questions
Which is cheaper, Wave or Wise?
Wave: Free deposits and withdrawals, 1% P2P fee. Wise: Low conversion fees at the mid-market rate.
Where are Wave and Wise available?
Wave: Senegal + 7 African countries. Wise: 160+ countries.