Cambridge Currencies and Wise both move money internationally, but they suit different jobs. Wise is an FCA-authorised fintech offering the mid-market exchange rate plus a transparent fee through its app — excellent for many transfers. For large or time-sensitive transfers, Cambridge Currencies offers a phone-based specialist and forward contracts to fix your rate, which Wise does not provide.
For a smaller or routine transfer, Wise is often the obvious choice: clear pricing, a great app and fast delivery. The picture changes on a large, planned transfer — a property purchase, emigration, an inheritance or a business payment — where fixing a rate ahead of time and having one person manage the transaction can matter more than a slick screen. This guide compares the two fairly for exactly that situation.
Who this comparison is for. Anyone moving a large sum (roughly £25,000 and above) who is weighing up the Wise app against a specialist currency broker, and wants an honest side-by-side.
Cambridge Currencies vs Wise: at a glance
| Wise | Cambridge Currencies | |
|---|---|---|
| Type | FX and payments fintech (app-first) | Specialist currency broker |
| Founded | 2011 (as TransferWise) | 2023 |
| Regulation | FCA-authorised electronic money institution (FRN 900507); LSE-listed | Operates via FCA-authorised partners Currencycloud (FRN 900199) & ScioPay (FRN 927951) |
| Fund protection | Safeguarding (not FSCS) | Safeguarding via FCA-authorised partners (not FSCS) |
| Pricing | Mid-market rate plus a transparent upfront fee (e.g. ~0.43% GBP→EUR) | Margin built into the rate; no upfront fee |
| How you transact | App and web; self-service | By phone, with a dedicated specialist |
| Dedicated dealer | No | Yes |
| Forward contracts / rate-locking | No | Yes |
| Limit & stop-loss orders | No | Yes |
| Maximum per transfer | Up to ~£1m on most GBP routes (some lower) | No fixed cap; arranged with a specialist |
| Best for | Transparent, self-service transfers — especially smaller and medium sums | Large or timed transfers needing rate-fixing and a specialist |
Where Wise is strong
It is worth being clear about what Wise does well, because for many people it is the right answer. Wise uses the real mid-market exchange rate and adds a small, transparent fee shown before you confirm — typically around 0.33% to 0.69% depending on the currency, so a GBP→EUR transfer is roughly 0.43%. Its app is among the clearest in fintech, most transfers are fast, and Wise is FCA-authorised as an electronic money institution (FRN 900507) and listed on the London Stock Exchange, which adds a layer of public reporting. For smaller and medium transfers where you simply want a fair rate and a quick send, Wise is hard to beat.
Where a specialist broker fits for large transfers
You cannot fix a rate ahead of time with Wise
This is the single biggest difference for large transfers. Wise does not offer forward contracts or any rate-locking tool — you get the rate at the moment you send. If you are buying a property abroad and complete in three months, the rate can move several percent in between, changing your sterling cost. Cambridge Currencies offers forward contracts to fix today’s rate for a future settlement, plus limit and stop-loss orders — tools designed for exactly this. Our guide on whether to lock in a rate or wait explains when that helps.
There is no dedicated person on a large transfer
Wise is deliberately self-service. That is a strength for routine sends and a gap on a six-figure transfer, where confirming beneficiary details, timing the conversion and handling source-of-funds checks benefit from a person who knows your transaction. Cambridge Currencies assigns a dedicated specialist who handles your transfer by phone from quote to settlement — the model many people prefer when the sum is large. See our guidance on large international transfers and on choosing a broker for buying property abroad.
Transfer limits
Wise caps most GBP transfers at around £1 million per transfer, with some routes lower, so a very large transaction may need to be split. Cambridge Currencies has no fixed public cap; large transfers are arranged with your specialist. For most people this will not be a constraint, but on property-sized sums it is worth knowing.
What about cost on a large transfer?
The two price differently, so the comparison is not fee-versus-fee. Wise charges the mid-market rate plus a visible percentage fee — on a £50,000 GBP→EUR transfer that is around £215, and on £500,000 it scales to roughly £2,150. Cambridge Currencies instead builds its margin into the exchange rate, with no separate fee, and prices keener margins on larger sums. Whether the total cost is lower with an app or a broker depends on the size and currency of your transfer on the day, so the only reliable test is to compare a live quote from each. We would always encourage that rather than relying on a headline figure.
Regulation and safety
Both protect your money the same way. Wise is directly FCA-authorised as an electronic money institution (FRN 900507) and safeguards funds in segregated accounts at tier-one banks. Cambridge Currencies is not itself FCA-authorised but executes payments and safeguards funds through its FCA-authorised partners, Currencycloud (FRN 900199) and ScioPay (FRN 927951). Neither is covered by the FSCS — both rely on safeguarding. You can verify any firm or partner on the FCA Financial Services Register, and read more on how client funds are safeguarded and how FCA regulation works.
“Wise is excellent at what it does — transparent pricing and a brilliant app — and for a lot of transfers it is the obvious choice. The gap shows up on large, time-sensitive moves: Wise cannot fix your rate ahead of a property completion, and there is no one on the phone to manage a six-figure transfer with you. That is the space we work in.”
Anthony Bull, CEO of Cambridge Currencies
Which should you choose?
Consider Wise if you want transparent, mid-market pricing, a fast app and full self-service — especially for smaller or medium transfers, or if you value its public-company reporting and slick technology.
Consider Cambridge Currencies if you are moving a large or time-sensitive sum and want to fix your rate with a forward contract, deal with one dedicated specialist by phone, and avoid per-transfer caps. Many people sensibly use both — Wise for everyday transfers and a broker for the big, planned ones — and compare a live quote each time. For a wider view, see our general guide to Wise vs a currency broker for large transfers.
Frequently asked questions
Is Cambridge Currencies or Wise better for large transfers?
It depends on what you need. Wise offers transparent pricing and a self-service app; for large or timed transfers where you want to fix a rate in advance and deal with a dedicated specialist, a broker like Cambridge Currencies is generally better suited.
Does Wise offer forward contracts?
No. Wise does not offer forward contracts or rate-locking tools — you receive the rate at the time you send. To fix a rate ahead of a future payment, you would use a currency broker that offers forward contracts.
Is Wise cheaper than a currency broker?
Sometimes, and sometimes not. Wise uses the mid-market rate plus a transparent fee, while brokers build a margin into the rate. Which works out cheaper depends on the size and currency of your transfer, so compare a live quote from each on the day.
Is Wise FCA regulated?
Yes. Wise Payments Limited is authorised by the Financial Conduct Authority as an electronic money institution (FRN 900507) and is listed on the London Stock Exchange. It safeguards customer funds in segregated accounts but is not covered by the FSCS.
Is Cambridge Currencies FCA regulated?
Cambridge Currencies is a UK currency broker that operates with FCA-authorised partners, Currencycloud (FRN 900199) and ScioPay (FRN 927951). It does not hold client money in its own name; funds are safeguarded by those partners.
What is the maximum I can send with Wise?
Wise allows up to around £1 million per transfer on most GBP routes, though some routes are capped lower and limits can rise as you complete verified transfers. Very large transactions may need to be split, and source-of-funds documentation can be requested.
Can I fix an exchange rate for a property completion?
Not with Wise, which has no rate-locking facility. A forward contract — offered by brokers such as Cambridge Currencies — lets you fix today’s rate for a settlement date in the future, so your sterling cost does not change before completion.
Is my money safe with Wise or Cambridge Currencies?
Both safeguard client funds under FCA rules, keeping your money separate from the firm’s own funds. Neither is covered by the FSCS, as that protects bank deposits. You can confirm authorisation on the FCA Financial Services Register before sending funds.
Moving a large sum? Compare a specialist quote
If your transfer is large or tied to a future date, it is worth getting a specialist quote alongside the Wise app before you decide. Speak to a Cambridge Currencies specialist about fixing your rate with a forward contract and managing the transfer — every transfer is arranged by phone with a dedicated specialist. Request a quote to compare for yourself.
Related guides: Wise vs a currency broker for large transfers · Cambridge Currencies vs TorFX · Best way to transfer large amounts internationally
