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Wise VS Convex.dev

Compare Wise VS Convex.dev and see what are their differences

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Wise logo Wise

Currency exchange Banks and other providers could charge you up to 5% in hidden costs when sending ...

Convex.dev logo Convex.dev

Global state management for react
  • Wise Landing page
    Landing page //
    2023-09-02
  • Convex.dev Landing page
    Landing page //
    2023-09-23

Wise features and specs

  • Low Fees
    Wise offers competitive and transparent fees compared to traditional banks and many other money transfer services.
  • Real Exchange Rates
    Wise uses the mid-market exchange rate, meaning users get the real exchange rate without any hidden markups.
  • Fast Transfers
    Many transfers through Wise are processed quickly, often within a few hours or a day, depending on the destination country and payment method.
  • Multi-Currency Accounts
    Users can hold and manage money in multiple currencies with Wise's Borderless Account, making it easier for those who deal with international payments regularly.
  • Transparent Pricing
    Wise is upfront about their fees and the total cost of a transfer, so users know exactly how much they'll pay and how much the recipient will receive.
  • User-Friendly Interface
    Wise offers a clean and intuitive application and web interface, making it easy for users to navigate and complete transactions.

Possible disadvantages of Wise

  • Limited Customer Support
    Wise's customer support is primarily online, and some users report difficulties in reaching live assistance or having slow response times.
  • Transfer Limits
    There are limits on how much money can be transferred in a single transaction or over a period of time, which might be restrictive for some users.
  • Lack of Physical Locations
    Unlike traditional banks, Wise doesn't have physical branches, which can be an inconvenience for those who prefer in-person banking services.
  • Verification Process
    New users or those making large transfers may have to go through a lengthy verification process, which can delay the initial transaction.
  • Not Available in All Countries
    Wise does not operate in every country, limiting its accessibility for some users looking to send or receive international payments.
  • Occasional Delays
    While generally fast, some transfers may experience delays due to various factors, such as banking hours, holiday schedules, or compliance checks.

Convex.dev features and specs

  • Seamless Deployment
    Convex.dev handles the infrastructure and deployment, allowing developers to focus on building applications rather than managing servers and scaling issues.
  • Real-time Data Synchronization
    Convex.dev provides built-in real-time data syncing which facilitates collaboration features and dynamic applications without additional configuration.
  • Backend as a Service
    Offers a back-end-as-a-service approach, which abstracts database and server management, allowing for rapid development and iteration.
  • Integrated Authentication
    Provides built-in authentication features, simplifying the process of handling user management and security within an application.

Possible disadvantages of Convex.dev

  • Limited Customization
    As a managed service, there may be constraints on customization compared to building a backend from scratch, which might limit certain advanced configurations or optimizations.
  • Vendor Lock-In
    Relying on Convex.dev could lead to a degree of vendor lock-in, making it potentially difficult to switch providers or migrate to self-managed infrastructure in the future.
  • Pricing Complexity
    Potential users might find pricing complex or restrictive depending on usage patterns, especially if there is a high volume of data syncing or transactions.
  • Learning Curve
    Despite its abstractions, new users might encounter a learning curve to fully understand and leverage all of Convex.dev's functionalities effectively.

Wise videos

+ Add

TransferWise Review - 3 Must Knows (2020)

More videos:

  • Review - TransferWise in detail
  • Review - Transferwise Review

Convex.dev videos

No Convex.dev videos yet. You could help us improve this page by suggesting one.

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Category Popularity

0-100% (relative to Wise and Convex.dev)

Wise

Convex.dev

Online Payments
100 100%
Online Payments
0% 0
React Tools
0 0%
React Tools
100% 100
Money Transfer
100 100%
Money Transfer
0% 0
Developer Tools
0 0%
Developer Tools
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Wise and Convex.dev

Wise Reviews

6 Cheaper Payoneer Alternatives for Your Online Transcations
Wise is a well-known alternative to traditional banking and offers competitive rates for international money transfers. It operates on a peer-to-peer system, ensuring low fees by matching individuals who want to exchange currency in different countries.
Source: www.withparallax.com
Top 5 Payoneer Alternatives [2024]
Wise offers fast, convenient transfers with transparent fees based on mid-market exchange rates, as well as a multi-currency account for both individual and business customers. While Wise offers several tools for business customers, such as expense cards, it is not as extensive as those offered by Payoneer. On the other hand, Payoneer’s fee structure is only transparent on...
Source: www.exiap.com
Top 5 Payoneer Alternatives for Seamless Online Transactions
Both offer global transactions, but Wise shines with competitive exchange rates and transparent fees, while Payoneer focuses on receiving payments with features like virtual cards. Choose Wise for cost-effectiveness, Payoneer for easy receiving.
Source: www.doola.com
Best money transfer apps of 2021
TransferWise does also offer Business pricing, which adds in extra features that are free, including the ability to receive money in EUR, USD, GBP, PLN, AUD and NZD currencies without charge. However, this comes with a 0.33%-3.56% fee to convert currencies. The supporting TransferWise debit Mastercard comes free too, with the same currency conversion fee of 0.33%-3.56% plus...
Source: www.techradar.com
Top 7 Wise Alternatives
Wise’s Multi Currency Account (review) and associated Wise card (review) (which works great as a travel money card) are especially useful to expats who need banking features in a new country to pay rent, buy groceries, or receive money like a local (Wise offers international bank details in 10 currencies).
Source: transumo.com

Convex.dev Reviews

Convex vs. Firebase
On this pageConvex vs. FirebasenoteBackend API: Documents or Functions?​Avoiding Serial Request Waterfalls​// Client code in a Cloud Firestore chat app.// This loads the messages and users using multiple round trips.const querySnapshot = await getDocs(collection(db, "messages"));const userSnapshots = await Promise.all( querySnapshot.docs().map(async messageSnapshot => {...
Source: docs.convex.dev

Social recommendations and mentions

Based on our record, Wise should be more popular than Convex.dev. It has been mentiond 24 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Wise mentions (24)

  • Which bank in vietnam have the lowest fee for overseas remittance?
    I don't think you need to be a holder of both. I put my mom on my Wells Fargo account and she sent to my account. There is also https://wise.com/us/ . This one I have used to send to someones account in Vietnam. It does have slightly higher fee. But it goes straight into their account. From Wells Fargo I would have to go and get USD then exchange it to Vietnamese currency. Source: almost 2 years ago
  • We are happy to welcome you to Auction 88 — Coins of The World.
    They invoice in Euros (Czech Republic) so also be aware of fees on payments. I've successfully used TransferWise (https://wise.com/us/). Source: almost 2 years ago
  • Recommend me a first credit card with 0 foreign tx fee
    It's not a credit card. It's just a way to convert currency w/o a fee. https://wise.com/us/. Source: about 2 years ago
  • Renting an apartment without a US Bank account?
    Get a Wise account. Open one in your local currency, and one in US currency. I was doing that for the first few months. Source: over 2 years ago
  • My New Client Is Asking Me For My Bank Info
    I’ve used Wise for bank payments from international clients before: https://wise.com/us/ that way you’re not giving them your actual bank info but the process is similar on the client’s end. Source: over 2 years ago
View more

Convex.dev mentions (13)

  • The Reluctant Founder
    I architected a boring but functional agency management app powered by Convex. But, I encouraged her to get started with a ready-to-use option, SPP.co. - Source: dev.to / about 2 months ago
  • Bringing Convex Dashboard into my dev environment
    When I first started using convex, I realized how awesome and easy it was to use the dashboard. It offers an amazing overview of logs, the ability to edit table data, and view your app health. However, as a developer who always has an insane amount of browser tabs open, I found myself constantly switching back and forth just to check on things, and with the massive amount of tabs, I always spent more time looking... - Source: dev.to / 2 months ago
  • I shipped my first iOS app, here’s my experience
    Convex provides a real-time database solution for Daily Reps, allowing me to store and retrieve data in a highly efficient and scalable manner. This enables me to provide users with a seamless experience, even as they engage with the app and perform various actions. This will be especially useful when I start building the web and Android versions. - Source: dev.to / 5 months ago
  • My chatbot builder is over-engineered, and I love it
    So what is the best tool for this job? Well, you guessed it! Always choose what you know. In my case, I've been working with the JavaScript ecosystem for a while, so I decided to stick with React for the frontend and Hono for the backend. I also used Convex heavily for the database, cron jobs, real-time capabilities, and more, all bundled together in a Turborepo. I'll go into more detail about each part of the... - Source: dev.to / 9 months ago
  • How to Collapse Your Stack Using PostgreSQL for Everything
    Agree. If you want a fully reactive database (and not just hierarchy-based reactivity) but want to keep your ACID + relational data modeling, check out https://convex.dev . Plug notice: this is my company. - Source: Hacker News / about 1 year ago
View more

What are some alternatives?

When comparing Wise and Convex.dev, you can also consider the following products

Bill.com - Your financial operations platform. The intelligent way to create and pay bills, send invoices, manage expenses, control budgets, and access the credit your business needs to grow—all on one platform.

Real World Haskell - Learning Resources, Programming Courses, and Learn Programming

Zoho Invoice - 100% free online invoicing software for small businesses.

Haskell From First Principles - A Haskell book for beginners that works for non-programmers and experienced hackers alike.

The Invoice Machine - The Invoice Machine is an online invoicing service with a simple and elegant user interface.

Firebase - Firebase is a cloud service designed to power real-time, collaborative applications for mobile and web.

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