Knightsbridge FX vs Wise 2025: Full comparison 

Getting the best deal on currency exchange can mean more money in your pocket. Whether you're converting cash for travel or making an international payment, comparing providers is key. Wise and Knightsbridge FX both offer competitive exchange services—but how do they stack up?

In this guide, we’ll compare Wise and Knightsbridge FX side by side, covering exchange rates, fees, supported currencies, and key features. By the end, you’ll have all the information you need to decide which provider suits your needs best.

Summary:

• Wise account lets users hold and exchange 40+ currencies, send money to 140+ countries, and spend internationally with a Wise debit card. It uses the mid-market exchange rate with transparent fees.

• Knightsbridge specializes in currency exchange in six major currencies, offering a Best Rate Guarantee to beat bank rates, but rates aren’t published online, and transfers must be arranged by phone or email.

Knightsbridge vs Wise: Side by side

Information correct as of 24th February 2025.

To summarize:

• Wise has more features than Knightsbridge FX, including a multi-currency account and a debit card for global spending.

• Knightsbridge FX focuses on exchange rates and promises to beat major banks, but rates aren’t published online, so you’ll need to request a quote.

• Wise supports more currency routes for international transfers, covering over 140+ countries, while Knightsbridge FX specializes in larger transactions in six major currencies.

• The best choice depends on whether you need a feature-rich account for everyday use or a provider focused on exchange rates for large transfers.

The important bits

Information correct as of 24th February 2025.

Key takeaways:

• Wise offers better transparency, using the mid-market exchange rate and clearly listing fees upfront.

• Knightsbridge FX may offer better rates for large transactions, but you need to request a quote to confirm.

• Supporting more currencies and payment methods, Wise is more convenient for making different types of transfers.

• Both providers are FINTRAC regulated, but Wise has more advanced security features like two-factor authentication.

• Wise has significantly better customer reviews, while Knightsbridge FX has very limited Trustpilot feedback.

What are the differences between Wise and Knightsbridge?

Pros and cons

Information correct as of 24th February 2025.

The verdict: Which is better: Wise or Knightsbridge?

The best choice depends on what you need and the transactions you need to make. If you're looking for flexibility, Wise is the more versatile out of the two, offering a wider range of features like a multi-currency account, global credit card and international transfers in 50+ currencies.

Knightsbridge FX, on the other hand, might be better for those wanting to make larger payments via bank transfers but only offers six currencies.  You also need to request a quote by calling a representative whereas Wise is more convenient and transparent, showing you exactly how much you'll pay online.

About Wise and Knightsbridge

Wise was founded in 2011 (originally as TransferWise) with the goal of making international money transfers cheaper and more transparent. Today, Wise has upwards of over 12 million customers, offering personal and business accounts to hold and manage currencies, accept payments and spend using a linked debit card.

Knightsbridge FX was founded in 2009 in Toronto, Canada, specializing in foreign exchange services. Over the years, it has helped 130,000+ customers exchange over $20 billion CAD, offering competitive rates for those exchanging large sums.

How do they work?

Wise allows users to send, spend, and exchange money internationally using a multi-currency account and linked debit card. When you make a transfer online or through the app, Wise converts your money at the mid-market exchange rate and sends it through its local payment network to avoid high fees.

Transfers can be funded in multiple ways, including direct debit, wire transfer, debit/credit card, and Interac e-Transfer. Most Wise transfers arrive instantly or within hours, depending on the currency and payment method.

How to use Wise:

• Sending money abroad quickly with low, transparent fees.

• Holding and exchanging 40+ currencies in Wise account.

• Get paid in 20+ currencies with account details.

• Spending globally with Wise debit card, without foreign transaction fees.

• Businesses managing international payments and invoices.

Learn more on - How to use Wise Account in Canada

Knightsbridge FX provides personal and business currency exchange services to customers in Canada. To create an account, you have to call Knightsbridge FX and speak with a member of the team.

Once your account has been created and you want to make an exchange, you call Knightsbridge FX where a representative will lock on an exchange rate for you, then send your funds via wire transfer from your bank. The exchanged currency is deposited directly into your recipient’s bank account, typically on the same business day. There are no transfer fees, but costs are built into the exchange rate.

How to use Knightsbridge FX:

• Exchanging larger sums of money ($2,000 CAD or more).

• Getting a better rate than major banks for CAD-USD exchanges.

• Buying property abroad or making large overseas payments.

• Businesses converting and sending large amounts internationally.

Wise vs Knightsbridge fees

Wise has a transparent, pay-as-you-go fee structure, using the mid-market exchange rate with a small, upfront fee that varies by currency (starting from 0.48). There are no subscription fees, and the Wise debit card has low, clearly stated costs for spending and withdrawals.

Knightsbridge FX does not charge direct fees for transfers, but exchange rates are not published online. Instead, the company adds a markup to the rate you receive, which varies based on the amount exchanged. You’ll need to request a quote to know the total cost.

Information correct as of 24th February 2025.

Wise clearly displays fees upfront, so you always know what you’re paying. Knightsbridge FX does not publish exchange rates, and while they promise better rates than banks, the final cost isn’t always clear until you request a quote.

If transparency is important, Wise could be the better choice. However, if you’re exchanging large sums, Knightsbridge FX may offer a more competitive rate than major banks.

Wise vs Knightsbridge currency exchange

Both Wise and Knightsbridge FX offer currency exchange services, but they differ when it comes to exchange rates, speed and convenience.

Information correct as of 24th February 2025.

Which is better for currency exchange?

• Wise is transparent and user-friendly, offering the mid-market rate and instant online exchanges.

• Knightsbridge FX may offer better rates than banks for large transfers, but you need to request a quote to compare costs.

• Wise supports 40+ currencies, while Knightsbridge FX is limited to CAD, USD, GBP, EUR, AUD, and NZD.

Wise vs Knightsbridge exchange rates

​​Wise uses the mid-market exchange rate with a transparent fee starting from 0.48, so you always know exactly what you’re paying. There are no hidden markups—just a small, upfront fee based on the currency and payment method.

Knightsbridge FX offers a Best Rate Guarantee, claiming to beat major banks like TD and Scotiabank. However, exchange rates aren’t published online, and you need to request a quote to see the final rate. While there are no stated fees, a markup is included in the exchange rate, meaning the total cost isn’t always clear upfront.

Wise vs Knightsbridge: Payment methods

The way you fund a currency exchange or money transfer can affect both costs and convenience. Wise offers a range of payment methods, whereas Knightsbridge is limited to bank transfers only.

Wise payment methods

Wise supports multiple payment methods, giving users more control over how they fund their transactions:

• Direct debit (EFT)

• Online bill payment

• Debit/credit card

• Wire transfer

• Interac e-Transfer

Knightsbridge FX payment methods

Knightsbridge FX only accepts bank transfers, which may work well for larger transactions, but offers less flexibility for everyday use. You’ll need to send funds via electronic bank transfer to complete an exchange, and there is no option to use debit/credit cards or e-wallets.

Supported currencies

The number of currencies a provider supports can determine how useful it is for your needs. Wise offers a wide range of currency options, while Knightsbridge FX focuses on a smaller selection of major currencies.

• Wise supports 50+ currencies for sending money and allows users to hold and exchange 40+ currencies in a multi-currency account.

• Knightsbridge FX supports only six currencies: CAD, USD, GBP, EUR, AUD, and NZD.

Wise vs Knightsbridge card

The Wise card lets you spend in 150+ countries at the real exchange rate with no foreign transaction fees, unlike traditional credit cards that add a 2.5% markup on currency conversion.

The Wise card is free to get, with no monthly or annual fees (you only pay a low conversion fee when you convert between different currencies), and you can hold and spend in 40+ currencies, choosing when to convert for the best rates. And with up to two free ATM withdrawals per month (up to 350 CAD) you can access cash affordably, with a 1.75% fee beyond that.

Knightsbridge FX does not offer a debit or credit card, with services focusing solely on online currency exchange.

Information correct as of 24th February 2025.

Wise vs Knightsbridge: Which is cheaper for international transfers? 

Both Wise and Knightsbridge FX offer cost-effective ways to send money internationally, often providing better exchange rates than banks. But which one gives you more for your money?

Below is a cost comparison for sending CAD to USD and EUR using both providers:

Information correct as of 24th February 2025.

Wise Vs Knightsbridge: Which is faster for international transfers? 

Wise transfers are often instant or completed within a few hours, 60%+ of transfers arrive instantly, and 80%+ arrive within an hour. However, depending on the payment method and currency, it can take 1–3 business days for Wise to receive your money before converting and sending it out.

Knightsbridge FX transfers are typically completed on the same business day or the next business day, depending on when the transfer is initiated and the receiving bank's processing times.

Wise vs Knightsbridge international transfer limits

Wise and Knightsbridge FX have different transfer limits depending on the payment method. Wise offers flexible limits based on how you fund the transfer, with no limit when sending CAD to your recipient’s bank using a bank transfer.

In comparison, Knightsbridge has a minimum transfer amount of 2,000 CAD and an annual cap of 40 million CAD.

Information correct as of 24th February 2025.

Learn more about - Wise transfer limits, and Knightsbridge limits

Sending large amount transfers

Wise and Knightsbridge both support high-value currency exchanges. Wise automatically applies fee discounts once a customer exceeds a certain transfer threshold in a given month, making it ideal for frequent large transfers.

Knightsbridge FX specializes in large CAD-USD exchanges and other major currency pairs, offering a best rate guarantee to beat bank rates.

Wise high amount transfers

Wise offers discounted fees for large transfers, making it a cost-effective option for sending high-value payments internationally. If you send over 20,000 GBP (or the equivalent in CAD, USD, EUR, etc.) within a calendar month, you automatically qualify for a lower fee. The discount applies only to currency conversions, so same-currency transfers (e.g., USD to USD) don’t count.

Wise calculates discounts in tiers, similar to tax brackets, meaning the discount only applies to the amount exceeding each threshold.

Wise automatically applies these discounts, meaning you don’t need to request special pricing. The more you send, the lower your percentage fee on amounts exceeding each tier. Learn more on Wise large amount transfers.

Knightsbridge high amount transfers

Knightsbridge FX has a minimum transfer limit of 2,000 CAD, but states that there is some flexibility, going up to 40 million CAD annually.

The company claims to beat bank rates but doesn't publish its exchange rate margins or offer automatic discounts. Instead, customers have to request a custom quote to see the final rate based on the transfer size.

If you’re sending a high-value transfer, it’s better to contact Knightsbridge FX directly to get a personalized quote and compare it against other providers.

Wise vs Knightsbridge for business

Both Wise and Knightsbridge have services for business holders. However, while Wise offers a multi-currency account and local account details, Knightsbridge only provides FX services aimed at importers, exporters and companies that make regular international payments.

Information correct as of 24th February 2025.

More information about - Wise Business Review, and Knightsbridge FX commercial transactions

Ease of use

Information correct as of 24th February 2025.

Are they safe and trustworthy to use?

Both Wise and Knightsbridge FX have security measures in place to protect customer funds and ensure transactions are processed safely.

Wise keeps customer funds safeguarded in separate accounts, ensuring they are never lent out. The company securely holds 14.7 billion GBP in customer balances with established financial institutions and uses 2-factor authentication alongside dedicated service teams to keep customer money safe.

Knightsbridge FX ensures funds are transferred securely via wire transfer or direct deposit through Canadian banks. Every transaction receives a confirmation number and can be electronically traced for added transparency.

To further protect customers, a trade confirmation contract is issued for each exchange, and the company has set aside $1,000,000 for consumer protection to safeguard funds.

Are they regulated in Canada?

Wise is regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) as a Money Services Business (MSB) with registration number M15193392. In Quebec, Wise also holds an MSB license with Revenu Québec (license number 902804).

Knightsbridge FX is also registered with FINTRAC under MSB registration number M09819788.

Wise vs Knightsbridge customer service

Wise provides multiple support options, including a detailed Help Centre with FAQs and troubleshooting guides where users can find answers to common issues. If there’s an ongoing issue with a transfer or account, Wise may send an email with instructions, so it’s always worth checking your inbox.

Customers can also log in to their account to access live chat, email, or phone support, which is 24/7 in English for personal accounts.

Knightsbridge users can get in touch by phone, email, and live chat support.  Customers can call directly or email their inquiry to request a callback from a representative. A live chat function is also available on the website during business hours for quick assistance.

Their phone support operates across multiple Canadian cities, with a toll-free number available for customers in Canada and the U.S. Business hours are Monday to Thursday from 8:30 AM to 9:30 PM EST, and Friday and Saturday from 8:30 AM to 5:30 PM EST. Knightsbridge FX also provides direct personalized assistance from traders who can help with large transactions and exchange rate monitoring.

Conclusion: Comparing Wise and Knightsbridge

Wise and Knightsbridge FX offer currency exchange and international money transfers but cater to different needs.

Wise is a fully digital platform offering a multi-currency account, international transfers, and a debit card for global spending to over 12 million active users. Wise shows you exactly how much you'll pay upfront, making it a fast and convenient option for international transfers, and currency exchange..

Knightsbridge FX is a popular Canadian currency exchange company that provides wire transfers above 2,000 CAD in six major currencies, offering a best rate guarantee to beat major banks. However, exchange rates aren't published online, so you'll need to request a quote to compare costs with other providers.

If you want an all-in-one online money management solution, Wise is the better option. If you're exchanging large sums and want to negotiate a better rate than the banks, Knightsbridge FX may be worth considering.

FAQs

Which is better: Wise or Knightsbridge?

The best provider for you will depend on what you need the most. An online platform, the Wise multi-currency account lets you send money to 140+ countries, or 50+ currencies, and receive 8+ currencies for local account details, making it ideal for fast and convenient international transactions.

Knightsbridge FX provides currency exchange services from 2000 CAD upwards via bank transfer. It promises better rates than banks but requires customers to physically call up and request a quote to see the final price.

Is Wise or Knightsbridge cheaper?

Wise uses the mid-market exchange rate with a small, transparent fee starting from 0.48. Knightsbridge FX doesn’t charge direct fees but includes a markup in the exchange rate, and rates aren’t published online. Comparing a live quote is the best way to see which is cheaper for your transaction.

Is Wise or Knightsbridge faster?

Wise transfers are often instant or completed within hours, depending on the currency and payment method. Knightsbridge FX typically processes transfers on the same or next business day, but the speed depends on banking networks.

How many currencies do Wise and Knightsbridge support? 

Wise supports 50+ currencies for sending money and allows users to hold and exchange 40+ currencies. Knightsbridge FX supports only six currencies: CAD, USD, GBP, EUR, AUD, and NZD.