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Personal Finance · head to head

Splitwise vs Wise

Splitwise logo

Splitwise

Personal Finance

Split expenses easily with friends

From
Free
Rated
-
Full reviewWebsite
Wise logo

Wise

Personal Finance

Multi-currency account and international transfers priced at the mid-market rate plus an upfront fee

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Splitwise the free tier limits how many expenses can be added in a day and shows adverts; Wise wise is an electronic money institution, not a bank, so balances are safeguarded rather than covered by deposit insurance schemes, and a customer who treats it as a current account is taking a different risk from a bank deposit.
  • They diverge on capability: Splitwise covers Bill splitting, Wise covers International transfers.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Splitwise and Wise actually diverge.

Attributes where Splitwise and Wise differ
AttributeSplitwiseWise
Pricing modelfreemiumPercentage of the amount converted

Identical on both: starting price (Free), free tier (Yes), platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance), founded (2011).

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 Splitwise

  • Bill splitting
  • Expense tracking
  • Group management
  • Settlement tracking
  • Venmo
  • PayPal

Only in Wise

  • International transfers
  • Real exchange rates
  • Multi-currency accounts
  • Bill payments
  • Bank accounts
  • Cryptocurrency
  • Mid-market conversion
  • Multi-currency balances

Both cover

  • Web support
  • IOS support
  • Android support

What people use each for

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

Splitwise

  • Splitting shared household bills between flatmatesnot Wise
  • Tracking who owes what on a group tripnot Wise
  • Settling up across currencies on the Pro plannot Wise
  • Recording IOUs between friends over timenot Wise

Wise

  • Budget Managementnot Splitwise
  • Expense Trackingnot Splitwise
  • Investment Trackingnot Splitwise

Where each one falls short

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

Splitwise

  • The free tier limits how many expenses can be added in a day and shows adverts
  • Transaction import works in the United States only
  • Currency conversion, receipt scanning, charts and expense search are all Pro features
  • The Pro price is not shown on the product page

Wise

  • Wise is an electronic money institution, not a bank, so balances are safeguarded rather than covered by deposit insurance schemes, and a customer who treats it as a current account is taking a different risk from a bank deposit.
  • The headline percentage is a floor, not an average: it starts from 0.23 to 0.24 percent depending on region, and thin or exotic corridors cost several times that, so the advertised number tells you almost nothing about the corridor you actually use.
  • Funding a transfer by debit or credit card adds a materially higher fee than funding by bank transfer, and the cheap headline rate assumes you use the slower funding route.
  • Compliance holds are common and opaque: transfers can be frozen for verification with limited explanation and no branch to visit, which is painful when the money is a rent payment with a deadline.
  • Fees, card issue costs, ATM allowances and available features differ by country of residence, so a price checked on one country site does not apply to an account opened elsewhere.
  • It is a payments product only, with no overdraft, no lending and no domestic banking relationship, so most users still need a bank account alongside it.

Pricing, plan by plan

Splitwise

Free
  • FreeFree
    • Bill splitting
    • Group tracking
    • Mobile app
  • Splitwise Pro$4.99/month
    • Receipt scanning
    • Advanced analytics
    • No ads

Wise

Free
  • Personal accountFree
    • Free to register, no monthly or subscription fee
    • Hold balances in dozens of currencies at no charge
    • Local account details for receiving payments
  • Send or convert money$undefined/per transfer
    • From 0.23 percent on the US pricing page and from 0.24 percent on the UK page
    • The exact percentage varies by currency pair
    • Funding by card or e-wallet costs more than funding by bank transfer
  • Wise debit card$9/one-time
    • 9 USD one-off issue fee in the US, 7 GBP in the UK
    • No subscription fee
    • Spending a currency you already hold is free

Which should you pick?

Choose Splitwise if

  • You need bill splitting.
  • You want to start without paying.
  • You work on Web, IOS, Android.
  • You also want expense tracking.
Splitwise review

Choose Wise if

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

Questions people ask

Is Splitwise or Wise better?
Neither clearly leads. Splitwise starts at Free and Wise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Splitwise or Wise?
Splitwise starts at Free and Wise at Free.
Does Splitwise or Wise run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
Can I use Splitwise for free?
Both have a free tier, so you can try either at no cost before committing.
What is Splitwise best used for?
Splitwise is most often used for splitting shared household bills between flatmates, tracking who owes what on a group trip, settling up across currencies on the pro plan, recording ious between friends over time. Of those, splitting shared household bills between flatmates and tracking who owes what on a group trip are not what Wise is typically brought in for.
What can Splitwise do that Wise cannot?
Splitwise covers Bill splitting, Expense tracking, Group management, Settlement tracking. Wise covers International transfers, Real exchange rates, Multi-currency accounts, Bill payments. Both handle Web support, IOS support, Android support.

Answered from the vendors’ own pages

Splitwise: Is there a free version of Splitwise?

Yes, Splitwise offers a free version available for iPhone, Android, and web with core features including adding groups and friends, splitting expenses, recording debts, equal or unequal splits, offline mode, and cloud sync.

Source
Wise: What does Wise actually charge to send money?

A percentage of the amount, stated before you confirm, starting from 0.23 percent on the US pricing page and 0.24 percent on the UK one. The rate varies by currency pair, and paying by card costs more than paying by bank transfer.

Splitwise: What is Splitwise PRO and how much does it cost?

Splitwise PRO is an upgrade offering receipt scanning, charts and graphs, currency conversion, and additional features. The specific price is not published on the main website; users must visit the subscription page or access the app to view pricing details.

Source
Wise: Does Wise really use the mid-market rate?

Yes. Conversion is done at the live mid-market rate with no margin added, and the cost is charged as a visible fee instead. That is the opposite of a bank that quotes a worse rate and calls the transfer free.

Wise: How much is the Wise card?

A one-off issue fee of 9 USD in the United States or 7 GBP in the United Kingdom, with no subscription. ATM withdrawals are free up to 250 per calendar month in the account currency, then 1.95 USD plus 1.95 percent per withdrawal in the US and 2.69 percent of the excess in the UK.

Wise: Is a Wise account free to open?

Yes. Registering is free and there is no monthly fee. You pay only when you send or convert money, or when you order a card.

Wise: Is Wise a bank?

No. It is an authorised electronic money institution, so your money is safeguarded at partner institutions rather than protected by deposit insurance.

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