When comparing TransferWise vs Google Wallet, the Slant community recommends TransferWise for most people. In the question“What are the best services for making online transactions?” TransferWise is ranked 3rd while Google Wallet is ranked 7th. The most important reason people chose TransferWise is:
Banks usually offer their own exchange rates, which is usually a pretty hefty "hidden fee". TransferWise uses the mid-market rate and charges you for the transactions in a more transparent way.
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Pros
Pro Transfer between currencies at the actual mid-market rate
Banks usually offer their own exchange rates, which is usually a pretty hefty "hidden fee". TransferWise uses the mid-market rate and charges you for the transactions in a more transparent way.
Pro Very low fees
Compared to banks, or even PayPal, Transferwise has very low fees. You can take a closer look here.
Pro Best choice of supported cards through Google's Virtual Card system
Google has a partnership with Bancorp Bank that issues a Virtual Card to Google Wallet users that works as an intermediary between customer's card and merchant. It gives more choice in terms of compatible cards and works as a card fraud mitigation technique.
Pro Has a robust fraud protection system
All verified unauthorized transactions reported within 120 days of the transaction are completely refunded.
Pro No credit card information is stored on the phone
In case a phone is lost or stolen no access to actual credit card information can be gained.
Pro 4-digit PIN provides added security through secondary authentication
4-digit PIN that has to be entered before any transaction can take place adds secondary authentication and makes sure that nothing gets bought by accident.