What is Wise?
Wise is the global technology company building the best way to move money around the world.
How much money does Wise send every month?
Wise helps customers send approximately 5 billion dollars every month.
How many countries does Wise support sending money to?
Wise supports sending money to over 70 countries.
Is Wise safe?
Wise is a licensed Authorized Electronic Money Institution, which means they are regulated by the Financial Conduct Authority (FCA), as well as by a variety of other regulatory institutions in other countries. They also offer institutional grade security for their services, such as a 2-step login and verification procedures. To add, they manage international money transfers for millions of customers and have a 4.6 out of 5 rating on Trustpilot, scored out of over 90,000 reviews.
How do you send money with Wise?
First, you need to create an account with Wise. You can signup using an email address, or you can connect your account with Facebook or Google. Secondly, you enter how much you'd like to send and where. The last step involves you send your money, choosing your preferred payment method and that's it.
Do you have to pay anything to receive money being sent using Wise?
No, you don't pay any fees for accepting money or making payment in local currency. You pay fees when you convert money between different currencies.
Does Wise have limits on how much money you can send?
Wise does have limits on how much money you can send depending on how you're transferring money. For example, there is a 1 million dollar limit if you're sending a standard money transfer to the bank account of a beneficiary in another country. These limits vary if you're sending money out of the U.S. and can also change depending on the countries currency you're sending money to, the total amount you're sending, and how you pay for the transfer.
How long does it take for Wise to send money overseas?
Typically, sending money overseas with Wise can be transferred in one business day or faster, sometimes within minutes. Ultimately, the actual time varies and will depend on the country and currency you're using, how much you're sending, how and when you pay for your transfer, and if Wise requires additional security checks.
Do you need a Wise account to receive money?
No, you do not need a Wise account to receive money sent via Wise. You do however need a bank account.
How much does Wise cost to use?
Your transfer cost will depend on the amount you send, how you pay, and the exchange rate.