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Personal Finance · head to head

Quicken vs TransferWise

Quicken logo

Quicken

Personal Finance

Take control of your finances

From
$3.99/month
Rated
-
Full reviewWebsite
TransferWise logo

TransferWise

Personal Finance

The cheapest way to send money abroad

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only TransferWise has a free tier, so it costs nothing to try first.
  • Each has a real cost: Quicken quicken Simplifi (cloud version) costs $3.99 annually if billed yearly, but renews at full price $6.99/month unless cancelled before renewal; TransferWise wise Card only available in selected countries, excluding major markets like UK
  • They diverge on capability: Quicken covers Budget creation, TransferWise covers International transfers.

Where they differ

Only the attributes on which Quicken and TransferWise actually diverge.

Attributes where Quicken and TransferWise differ
AttributeQuickenTransferWise
Starting price$3.99/monthFree
Pricing modelsubscriptionUnknown
Free tierNoYes
PlatformsWeb, iOS, Android, Windows, macOSWeb, iOS, Android
Founded19832011

Identical on both: user rating (Not yet rated), category (Personal Finance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Quicken

  • Budget creation
  • Bill management
  • Investment tracking
  • Tax planning
  • Investment accounts
  • Credit cards
  • Windows support
  • Mac support

Only in TransferWise

  • International transfers
  • Real exchange rates
  • Currency conversion
  • Multi-currency accounts
  • Web support
  • Android support

Both cover

  • Bank accounts
  • IOS support

What people use each for

The jobs each tool is most often brought in to do.

Quicken

  • Individuals managing personal finances via Quicken Simplifi cloud app for budgeting and savings trackingnot TransferWise
  • Freelancers and self-employed managing business and personal finances via Quicken Business & Personal plannot TransferWise
  • Users preferring local data storage via Classic desktop editionsnot TransferWise

TransferWise

  • Budget Managementnot Quicken
  • Expense Trackingnot Quicken
  • Investment Trackingnot Quicken

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Quicken

  • Quicken Simplifi (cloud version) costs $3.99 annually if billed yearly, but renews at full price $6.99/month unless cancelled before renewal
  • Renewal pricing significantly higher than introductory rate; annual cost jumps from $47.88 (promotional) to $83.88 (regular renewal)

TransferWise

  • Wise Card only available in selected countries, excluding major markets like UK
  • Mid-market rate is still 0.33-0.5% plus spreads higher than interbank rates
  • Business accounts have additional requirements and higher minimums

Pricing, plan by plan

Quicken

$3.99/month

No published plan breakdown. See the Quicken review.

TransferWise

Free
  • Personal AccountFree
    • Free account opening
    • Transfer in 40+ currencies
    • Mid-market exchange rates
  • Transfer fees$undefined/per-transfer
    • Transparent fees shown upfront
    • Average total cost 0.5-1%

Which should you pick?

Choose Quicken if

  • You need budget creation.
  • You work on Web, iOS, Android, Windows, macOS.
  • You also want bill management.
Quicken review

Choose TransferWise if

  • You need international transfers.
  • You want to start without paying.
  • You work on Web, iOS, Android.
  • You also want real exchange rates.
TransferWise review

Questions people ask

Is Quicken or TransferWise better?
Neither clearly leads. Quicken starts at $3.99/month and TransferWise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Quicken or TransferWise?
TransferWise has a free tier; the other does not. Paid plans start at $3.99/month for Quicken and Free for TransferWise.
Does Quicken or TransferWise run on more platforms?
Quicken runs on Web, iOS, Android, Windows, macOS. TransferWise runs on Web, iOS, Android.
Can I use TransferWise for free?
Yes. TransferWise has a free tier, so you can try it without paying. Quicken starts at $3.99/month.
What is Quicken best used for?
Quicken is most often used for individuals managing personal finances via quicken simplifi cloud app for budgeting and savings tracking, freelancers and self-employed managing business and personal finances via quicken business & personal plan, users preferring local data storage via classic desktop editions. Of those, individuals managing personal finances via quicken simplifi cloud app for budgeting and savings tracking and freelancers and self-employed managing business and personal finances via quicken business & personal plan are not what TransferWise is typically brought in for.
What can Quicken do that TransferWise cannot?
Quicken covers Budget creation, Bill management, Investment tracking, Tax planning. TransferWise covers International transfers, Real exchange rates, Currency conversion, Multi-currency accounts. Both handle Bank accounts, IOS support.

Answered from the vendors’ own pages

TransferWise: How much does Wise charge for transfers?

Wise charges a small fee (typically 0.33% to 0.5% of transfer amount) plus shows you the mid-market exchange rate. Total costs are usually 0.5-1% compared to banks charging 3-6%.

Source
TransferWise: Can I open a Wise account for free?

Yes. Opening a Wise personal account is free with no monthly or annual fees. You only pay when you actually make a transfer.

Source
TransferWise: How many currencies does Wise support?

Wise allows you to hold and exchange money in 40+ currencies, and send payments to 160+ countries with spending available in 150+ countries.

Source
TransferWise: Does Wise offer a debit card?

Yes. Wise Multi-Currency Card is available in selected countries including Australia, Brazil, Canada, Japan, and others. It uses mid-market exchange rates and has no annual fee.

Source
TransferWise: How does Wise work without traditional banking?

Wise holds local bank accounts in each country it operates. When you send USD to EUR, Wise receives your dollars in the US and releases euros from its local European account to your recipient.

Source
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