It seems only fair that an exchange should happen at the mid rate so that the 'surplus' is equally shared. My only concern is about the fee charged by Transferwise on top: it appears to be a percentage of the transaction value: It is not clear why they do not simply take a fixed amount as theit costs must be very similar regardless of the size of transaction, and they take no foreign exchange risk as they are simply matching buyers and sellers at the mid price ... That said, Transfewise is a significant step forward ahead of the services of the banks and moneybrokers who make their money by offering both buyers and sellers a rate off the mid price. I share no longer shop around for the best rate, confident that Transferwise provides that. Well done.
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