Rewire Review

  • Easy and straightforward 
  • Free Mastercard
  • Free Euro IBAN account
  • Free local transfers in Europe
  • Flat fee for transfers
  • Focused on immigrants in EU

There are many money transfer services out there and it can be hard to decide which one to use. Today we’re reviewing Rewire. An up and coming money transfer service. Is this platform everything it claims to be? Read our Rewire review to find out more, from how the service works to whether it’s the best option for you. But first, here’s our short verdict:

Rewire will work like a charm for expats and migrants that live in Europe as the service offers many benefits like a free Mastercard with no fees or cheap money transfers to family back home, as well as free transfers within the EU.

About Rewire

Rewire is a digital banking and money transfer service launched in January 2015 and was designed specifically for expats or those spending considerable amounts of time abroad. 

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Their services include a dedicated online bank account or Mastercard, as well as offering money transfers locally and internationally. 

The company “blew up” in 2020 and now has over 500,000 customers with over 230,000 users that are originally from Thailand, China, the Philippines, and India. Users from the Philippines and Thailand are especially fond of Rewire’s services as they grew 300% year on year. 

Why is Rewire so special?

Rewire is a dedicated financial service designed specifically for those living or traveling long-term abroad, mainly in Europe. Unlike other financial options on the market, Rewire doesn’t limit itself to just providing general money transfer services. 

Instead, they aim to provide the full package for immigrants, including creating a free IBAN account and Rewire Mastercard that can be used to withdraw cash, make purchases, and more. 

This system enables individuals to send money home to specific countries and deposit their money into a safe and secure account for day-to-day use.

By providing the full solution, Rewire is a one-stop financial shop for individuals currently living and working abroad that need a simple, practical way to transfer money – preferably from the bank account they’re using – without the high costs of a traditional bank account. 

Rewire describes itself as a platform founded for immigrants, and as such, the services they offer are committed to supporting this specific demographic of people.

Rewire provides its users with a dedicated EUR IBAN account upon signing up to its platform. As such, it’s no surprise that the platform is intended for immigrants working in Europe, which limits the creation of accounts and the use of services outside this specific continent. 

Rewire has big plans in the near future as the Israeli company plans to add savings accounts, investing platform, bill payments, insurance, credit, and loan services. 

Pros and cons


  • Easy to open an account
  • No hidden fees
  • Fast
  • Reliable 
  • Tailor-made for immigrants

One of the great benefits of a bank account-style money transfer service is that the user on the other end doesn’t need an account to receive that cash. 

As Rewire performs bank account transfers instead of card-to-card transfers, the money can be deposited into any bank account – provided you have their full details and IBAN. 

Of course, it doesn’t hurt that you gain access to a free bank account and universally accepted Mastercard as part of the process, which is something much-needed by many immigrants looking for a secure and stable way to keep their money safe.


  • Not many countries to send money to outside Europe

What’s immediately clear about Rewire is that it is a service with a specific purpose. If you aren’t an expat looking to send cash home to family or relatives, likely, you won’t get as much out of the features as you could. 

While this isn’t a downside for many of the platform’s customers, it does make it less suitable for those looking for an all-rounder money transfer service with fewer country limitations. 

In addition, customer reviews regarding customer service have been less than stellar in some instances, with customers claiming they’re unable to get in contact with the support team over issues with transfers and accounts.


  • Flat 1% fee for money transfers
  • Free transfers within the EU
  • Free ATM withdrawals

Where can you send the money?

In terms of where you can send money to, Rewire supports many of the expected countries where immigrants are likely to be sending money home. This includes: 

  • Nigeria, 
  • India, 
  • Thailand, 
  • Nepal, 
  • China, 
  • The Philippines,
  • Sri Lanka,
  • Senegal,
  • Ukraine,
  • South Africa,
  • Kenya,
  • Ghana,
  • Uganda

Judging by their current timeline, the plan is to continue expanding the number of money transfer services available to encompass more regions and locations. 

Free transfers within Europe

We already mentioned that Rewire is geared towards immigrants that live in Europe and send money back home. Immigrants don’t only come outside of Europe; there are many immigrants from one European country that live in another European country. 

Rewire’s service will be especially good for them as they’ll have free transfers from Rewire to any EU bank account. The service is, of course, available 24/7 from your phone and is easy to use, completely free, and is completed within one business day. 

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When making a local transfer, you must ensure to transfer to the ‘loading from EU’ IBAN account to avoid getting charged extra. You should also add a reference number to make it easy for Rewire team to effectively add funds to your account.

From which countries can I send money?

Rewire is focused on immigrants and expats living in Europe. For this reason, you can only send money from the following countries:

  • Austria, Belgium, France, Germany, Ireland, Italy, Netherlands, Spain, Cyprus, Estonia, Finland, Greece, Latvia, Lithuania, Luxembourg, Malta, Poland (Euro accounts), Portugal, Slovakia, Slovenia, and the UK (Euro accounts).

How long are the transfers?

The time to transfer money depends on many things, but transfers will mostly depend on the mode of transfer that you choose:

  • Bank account – 10 minutes to 2 days
  • Cash pick up – immediately
  • Palawan cash pick up – up to 1 business day
  • Paga Mobile Wallet – up to 1 business day
  • Gcash and – up to 1 business day

How does Rewire work?

To use any of Rewire’s services, you’ll have to open an account using either the mobile app or the Rewire website

You’ll need to provide your full name, phone number, and email for the initial signing-up process. Still, you’ll also need to upload an ID, submit a photograph and give additional personal information for your IBAN account to be set up ready to go. 

Once your account is generated, you can deposit money into your Rewire account through various options, including credit and debit cards, bank transfers, or using the Sofort service. 

From there, you can send deposited money to any of the locations supported by Rewire using the ‘Send Money’ tab within your online banking service. Rewire charges a 1% fee on all international transfers, while local transfers are free of charge.

Online banking

When you open a Rewire account, you also get a free IBAN account and a free Mastercard that you can use for online and offline payments. With built-in money management, you can track your expenses and exactly see where your money is going and how you can save some of it. 

You can see a detailed transaction history with recipient details and a real-time exchange rate to plan your next money transfer. If you’re looking for a simple account for sending and receiving money, Rewire is worth a shot. They will also be expanding their services to offer a complete banking solution for immigrants and expats that will include savings, investing, bill pays, and more. 

Rewire Mastercard

  • No monthly or annual fees
  • Real-time notifications
  • Free ATM withdrawals
  • No transaction fees

When you open a Rewire account, you can choose to get a free Mastercard. It will be sent out to your home address once your documents have been verified. 

Rewire’s Mastercard is one of the best prepaid cards out there as there are no transaction fees when buying online or in-store.  Even before the card is delivered to you, you can start using Rewire’s virtual card that you can connect to Apple or Google pay. 

You have several options for loading your card:

  • Instant debit or credit card transfer
  • Bank transfer
  • SEPA bank transfer
  • Have salary paid directly

Rewire’s card acts just like any other prepaid Mastercard and is safe to use for online or offline shopping. 

With this card, you will also get regular discounts and more or less regular cashback rewards such as Holiday Shopping Cashback, where you can get up to 3% cashback on every purchase you make. 

Invite a friend

The company has an interesting incentive for recommending their service to your friends or family. If a friend opens a Rewire account through your link and makes a transfer of at least €90, they will get three fee-free transfers, and you will get €40 credited to your account. 

Who owns Rewire? 

Rewire was founded in 2015 by Adi Ben Dayan, Guy Kashtan (CEO), Or Benoz, and Saar Yahalom. Its headquarters are in Tel Aviv, Israel.

The company raised more than $32 million from three rounds of funding. The last round, in March 2021, brought in $20 million.

Rewire has 10 investors, including OurCrowd, Viola FinTech, Moneta VC, Renegade Partners, AME Cloud Ventures, Glilot Capital Partners, and others. 

How is Rewire regulated?

Rewire has licenses in its home country Israel and is also authorized as an e-money institution by the Dutch National Bank and can conduct its activities in any of the 30 EEA member states due to the EEA’s passporting rules. 

Is my money safe with Rewire?

Rewire is regulated in countries where it conducts business, and although it isn’t a bank and is not part of the deposit guarantee scheme that insures your deposit up to €100,000, your money is still safe. 

Electronic money institutions are required to keep customer deposits in segregated accounts in reputable banks. They cannot use the money for any other purpose (investing, lending…) than it was intended for. 

Customer reviews

Rewire has a 4.3-star rating out of 5 on Trustpilot from almost 1,000 reviews, with 71% of reviewers giving it an excellent mark and 17% a bad one. 

With a 4.3 score, Rewire is placed much higher than PayPal with a 1.2-star rating, and Netteler and its 2.5 stars. Wise, for example, has a 4.6, TransferGo has a 4.8-star rating, Payoneer has a 4.4, and CurrencyFair a 4.6-star rating.

Customer service

You can get in touch with Rewire’s customer support seven days a week from 7 am to 6 pm (CET) via phone, email, or chat. Their phone number is +31-0800-0220041, and they also have Whatsapp, Viber, and Facebook Messenger. Find further info on their website

Rewire alternatives



Wise is a well-known name in the money transfer business, but they’re so much more than that. They also offer a digital bank account and a debit card, similar to Rewire. They have hands down the cheapest international transfers and have recently gone public on the London Stock Exchange. 



Currencyfair offers personal, and business money transfers at reasonable prices to and from 150+ countries in 20+ currencies. They have transferred more than €10 billion in more than ten years of service. 



Remitly has been founded more than 10 years ago and offers a tailor-made service for immigrants, similar to Rewire. It supports a decent range of countries and is a good choice for sending money with flexible payment options and many delivery selections.


ria money transfers

Ria has more than 30 years of experience in the industry and, with the backing of Euronet, has a global network of more than 447,000 locations in 160 countries. They also have a redesigned app that makes life easier. 

The bottom line

So, is Rewire an excellent option for you? That depends on exactly what you’re looking to get from an online bank account or money transfer service. If you fit into the expats’ niche looking to send their hard-earned cash home, then Rewire might be for you. 

But if that doesn’t sound like the kind of service you’re looking for, you may be better off looking for something less targeted. Rewire is a great system with a specific purpose – but the flipside of this is that it’s not the right fit for everyone, especially when it comes to money transfer.

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As a Current mobile banking app affiliate, I earn from qualifying purchases.
topmobilebanks logo

Current: The Future of Banking

As a Current mobile banking app affiliate, I earn from qualifying purchases.