WISE (Ex-TransferWise) - one of the leading of international money transfers providers
1 USD
min transfer amount
199.999 USD
max transfer amount
1 min - 24 hours
speed of transfer
The main goal of the company is to make international transfers more cheaper by means of market conversion rates and a reduction or complete cancellation of the fees.
The best recommendation for any company is the reviews of regular customers and here TransferWise has something to brag about.
96% of reviews on TrustPilot rated WISE like Very Good and Excellent
Fees and exchange rate
9.6/10
Speed of transfers receiving
9.5/10
Safety and trust
9.5/10
Ease of use
9/10
Total score
9.5\10
Total score on TrustPilot:
total score 4.8 / 5 based on 49 653 customer review
Payment card
Bank transfer
India
China
Mexico
Philippines
Get your Promo code for WISE service from Monisaver
Compare Wise's Fees & Exchange Rates
Pros & Cons WISE
Mid-market exchange rate
low fees from 0.35% to 2% of the transfer amount
Sending limits: per day for private persons - up to 49 999 USD, for legal entities - up to 199 999 USD per day
The speed of receiving the transfer is from 3 min to 24 hours
Fixed exchange rate for 3 days
Trustpilot 98/100 Customer Score
Sending and receiving a transfer only to a payment card or bank account
TransferWise competitors
How TransferWise Works?
The service is based on P2P (peer-to-peer) technology: two clients are involved in a transaction. For example, one needs to make a transfer from the UK to Poland, and the other needs to send money in the opposite direction.
The system acts as an intermediary between them - one pays the transfer in pounds from his account, and the other in zlotys from his account in Poland. Thus, the money remains in the country, the client does not pay cross-border tax, and the transaction is completed.
What about security? The security of transactions is regulated by the British FCA (Financial Conduct Authority).
Service and coverage
8.5/10
Customer satisfaction
9/10
Support
9.5/10
Monisaver score
9.5\10
Wise transfer limits
Minimum transfer limit: 1 USD or equivalent
Maximum transfer amount - 199,999 USD
from 2 minutes to 24 hours
80 currencies
from 0.35 to 2% of the amount (there are free transfers, read more about this)
1
Create an account on WISE
Sign up with TransferWise - you can use your Facebook or Google account to sign up
2
Pass
verification
To send money to some destinations, you need to confirm (verify) your identity by attaching a scan or photo of your passport or id card
3
Get all data for transfer
Data required to send a transfer: email, full name, phone number and the last 4 digits of a bank card.
4
Confirm
payment
Select the payment method that the service will offer you
5
Track
translation
You can track your money any time and when it reaches the recipient.
TransferWise - Fees and Exchange Rate
TransferWise's fees are among the lowest among peers.
Commission is charged either as a percentage of the amount transferred or a flat commission in some directions. The minimum commission (and it is 0.35%) and Transferwise depend on the amount, transfer currency and receipt currency.
from British pounds to Euros - 0.35% of the transfer amount with a fee of £0.80
Euro to British pound - 0.5% of the transfer amount with a flat fee of €2
Exchange rate
As we mentioned above, TransferWise converts the payment amount into the currency of receipt of the transfer using only real market average rates.
This means that the addressee will receive his transfer in national currency at a rate that will not differ from the exchange rates in his country and will be much better than commercial bank rates.
Bonus: When you make a transfer in TransferWise, the exchange rate at the time of the transaction will be automatically fixed. The exchange rate is fixed until the payment of the transfer for 24 hours for most countries and from 48 to 72 hours for the Brazilian real, which will allow you not to worry about fluctuations in the exchange rate in the foreign exchange market. And the addressee will know exactly “to the penny” how much he will receive on the card.
For example, compare TransferWise’s exchange rates to two other money transfer providers. Which company will offer the most advantageous exchange rates if you want to send 500 USD from USA to France
Usd/Eur exchange rate
0.8423
Usd/Eur exchange rate
0.831
Usd/Eur exchange rate
0.8351
Exchange rates are up-to-date of the article writing (August 2021)
As you can see, the exchange rate offered by TransferWise significantly differs from competitors in a more favorable direction.
However, before sending a transfer, it is still better to use our service for comparing rates and commissions in order to choose the best option.
Get more
Are there hidden fees at WIse?
The main message of the WISE service is the absence of hidden fees. Pay only the conversion commission you know in advance. No – hidden fees. No – to an unfavorable exchange rate. No – to unpleasant surprises
Is it Wise the cheapest way to send money overseas?
Not always, but very often! According to data from our comparison engine on 2021, Wise was the cheapest money transfer service of all on nearly one in every five searches, making them the cheapest of all on average.
Is it safe to use Wise to send money overseas?
Yes According to our comprehensive review of its service, Wise is indeed a fully legitimate financial services company that received a 10/10 Trust & Credibility score on Monisaver. Wise Money Transfer complies with strict rules and regulations of every country where it does business, and the company checks and verifies every user to protect against fraud and money laundering.
Cross-border (Multicurrency) WISE account
The WISE Cross-Border Account is a multi-currency account that allows you to hold money in more than 40 currencies and convert it at the mid-market rate whenever you want – for example, when the rate is most beneficial.
When you open a cross-border TransferWise account you get a debit. WISE Mastercard and details of current accounts in USD, GBP, EUR and AUD. A cross-border account also gives you the ability to receive commission-free money from over 30 countries.
Cross-border account maintenance cost:
Mobile app
TransferWise offers the ability to access all the functionality of the system using a mobile application for smartphones and tablets running iOS and Android.
With the help of applications you can:
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Additional Services for business clients
TransferWise makes it possible to register not only personal accounts, but also accounts for legal entities that allow you to pay for goods and services to foreign suppliers, freelancers, foreign employees and workers on business trips.
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Fees and exchange rates are the same as for private clients, however, there are some currencies restrictions for business clients.
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ALL
Service fees compared to PayPal
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Get your Promo code for WISE service from Monisaver
Compare Wise's Fees & Exchange Rates
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Office: Monisaver.com
ALEJA GEN. ANTONIEGO CHRUŚCIELA "MONTERA" 88A
Warszawa 04-412, Poland
Call Us: +48 720 740 429
Telegram: @Izibizzz
Office: Monisaver.com
ALEJA GEN. ANTONIEGO CHRUŚCIELA "MONTERA" 88A
Warszawa 04-412, Poland
Call Us: +48 720 740 429
Telegram: @Izibizzz
