Top 6 Wise alternatives in Canada: compare fees, features, and benefits

If you run a growing business, you’ll need a financial platform built for scale. This platform should allow you to open local accounts and corporate cards in several currencies and send money across borders without excessive fees. While Wise is one option to consider, exploring other alternatives can help you find the best fit for your needs.

What is Wise?

Wise is a UK-based financial technology company focused on simplifying global money transfers. Its platform is designed to help consumers and businesses send funds overseas easily at a low cost.

For businesses, Wise’s products include:

• Multi-currency accounts

• Virtual debit cards

• Batch international transfer capabilities

• Accounting software integrations

Best known for serving consumers and micro-businesses, Wise offers a simple and affordable service. However, its limited business-focused features – such as a lack of volume discounts, advanced expense management, and robust integrations – make it less ideal for growing businesses seeking scalable, enterprise-level solutions. The top alternatives to Wise

Looking for options aside from Wise? Here are six standout Wise alternatives and their competitive benefits.

• Airwallex: Founded in 2015, Airwallex is a global financial platform that serves 150,000+ growing businesses worldwide, enabling them to seamlessly collect, hold, convert, and send multi-currency payments. 

• RBC: The Royal Bank of Canada is a traditional bank offering international business banking solutions, including tailored accounts, financing options, and cash management services. 

• Corpay: Corpay is a global corporate payments company that simplifies international transactions with multi-currency accounts, multiple international settlement options, and expense management through corporate cards.

• OFX: OFX is a money transfer company that provides global money transfers with competitive exchange rates and dedicated support for businesses managing cross-border transactions.

• KnightsbridgeFX: KnightsbridgeFX is a Canadian foreign exchange provider that facilitates currency exchange for individuals and businesses. It offers international payment services focusing on competitive exchange rates and telephone-based support.

• XE: XE is a currency exchange and money transfer platform that enables users to send funds internationally and access real-time exchange rate information. It supports transfers in over 130 currencies for both personal and business use.

Compare the top 6 alternatives to Wise

*SWIFT payments typically incur a C$25-C$35 fee. 

 Why choose Airwallex over Wise?

What questions should I ask when choosing a Wise alternative?

Here are 10 important questions for you to ask when considering Wise competitors.

• What are the transaction fees?

• What is the currency exchange markup?

• Are there any account setup or management fees?

• How extensive is the geographical coverage?

• What currencies can be held in your business account?

• What funds management services do you provide?

• What security measures do you have in place?

• What integration capabilities do you offer?

• Do you provide dedicated account management support?

• Do you offer corporate and employee cards?

Final thoughts on alternatives to Wise

Airwallex and Wise offer competitive cross-border financial solutions, but they’re built to meet different needs.

For global reach, Airwallex stands out. Businesses can send, receive, and hold funds in 23 currencies, transact in 150+ countries, and avoid international transaction fees in over 120 countries via local payment rails. Wise also allows businesses to hold 23 currencies and supports payouts to 70 countries but charges international transfer fees and lacks the same local infrastructure.

The bottom line? Wise is a strong choice for individuals and small businesses seeking low-cost international transfers. However, larger companies may find limitations in terms of global scale, integrations, and fee structure.

Airwallex offers a faster, more scalable solution with broader currency support, deeper software integrations, and tools built for end-to-end global financial operations.

Looking for more than just transfers? Airwallex is designed to help growing businesses manage global payments, FX, and spend in one place.

Resources

1. https://www.rbcroyalbank.com/banking-services/international-money-transfer.html 

2.  https://www.rbcroyalbank.com/business/pdf/services_fees.pdf

3. https://www.corpay.com/faq

4. https://www.corpayone.com/post/fx-beta-new-send-foreign-exchange-payments-in-corpay-one 

5. https://cp.corpayone.com/content/dam/legal/terms-conditions/2025-tc/corpayone-cp/CP1MC202412NS_S%20(Web).pdf 

6. https://www.ofx.com/en-ca/bank-beating/ 

7. https://www.ofx.com/en-ca/faqs/are-there-any-transfer-fees/

8. https://www.knightsbridgefx.com/about/

9. https://www.knightsbridgefx.com/faqs/#:~:text=Knightsbridge%20FX%20does%20not%20charge,the%20method%20you%20would%20use. 

10. https://www.knightsbridgefx.com/international-money-transfer-charges/

11. https://www.xe.com/business/same-currency-transfers/

12. https://www.xe.com/en-ca/compare/ 

13. https://wise.com/ca/pricing/business 

14. https://wise.com/ca/business/invoices 

15. https://wise.com/help/articles/2524078/how-long-does-a-transfer-usually-take 

16. https://wise.com/ca/pricing/business/send-money 

Disclaimer: We wrote this article in Q2 2025. The information was based on our own online research, and we were not able to manually test each tool or provider. The information is provided for educational purposes only, and readers should consider the specific requirements of their business when evaluating providers. This research is reviewed every six months. If you would like to request an update, feel free to contact us at [email protected].