Have you ever worked internationally or started a company and transferred money back home? If yes, then you’d know how much of a hassle it can be. However, with Wise, you no longer have to worry about transferring money.
It is a UK company with the main aim of making money transfers easy and safe. Here’s some information you’d like to be familiar with before using TransferWise.
What Is TransferWise?
Wise, formerly known as TransferWise, is an ideal service provider to transfer money overseas. Well-liked by its customers, Wise has managed to gain the trust of 10 million customers.
With a wide range of service providers out there, you must be wondering why people prefer TransferWise? Let’s gain some perspective into the services provided by Wise.
What Makes Wise Extraordinary?
By providing an interbank rate and minimum transfer costs, Wise provides you unparalleled transparency. In addition, it offers online services and 24/7 accessibility from anywhere in the world. Following are some of the features Wise offers:
- Easy website interface and a mobile app
- Allows you to store money in multiple currencies and convert them anytime
- High security such as two-step verification, regular vulnerability scans and FCA regulation
- Multiple payment methods
- Same-day transfers
Wise allows you to save money on hefty fees charged by banks and provides better exchange rates. However, like all things, it has its drawbacks too. Here’s more information to decide whether it is the right fit for you or not.
Challenges Of Using Wise
While it allows you to make quick transfers, Wise has yet to introduce cash pickups. It also does not allow you to pay by cash. Moreover, you can only transfer money to bank accounts.
Some people also experience frustration over the verification methods used by Wise. However, these techniques are the ones that make Wise a securer platform than others.
Now that you understand what Wise offers, are you ready to use it? Let’s understand the process of transfer to help you make an informed decision.
Guide To Sending Money Via Wise
Firstly, sign up using the Wise site and verify your account. Then to make the money transfer, complete the following steps:
- Click on the send money box
- Check the Wise calculator to see the transfer cost
- Choose whether the transfer is personal or for business
- Fill in the details of the recipient
- Verify and review the details
- Choose the method of payment
Now that you’re done with all the steps, sit back and relax while Wise worries about the rest.
Final Verdict: Is Wise The Right Fit For You?
The pros of using Wise excel the cons in all terms. Moreover, 85% of the customers gave Wise a five out of five on Trustpilot. Transferring money has never been this cost-effective and time-saving.
Wise is not only providing customers with impeccable service but also a reliable method of transferring money. Hence, without a doubt, it is the best service provider to trust your money and time with.
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