TransferWise

Avg. Rating: 4.8 (2 reviews)

TransferWise is a large, online international money transfer service that has over 8 million customers, and allows people to send money to bank accounts across the world. They help people send approximately 5 billion dollars per month and are a trusted, secure, reputable, and currency, exchange provider. They started in 2010 and provide a variety of services including sending money to people and businesses in other countries and allow you to get paid in other currencies.

  • TIME IN BUSINESS: Since 2010
  • # OF CUSTOMERS: Over 8M
Send Money Now with TransferWise

1-888-445-2780

56 Shoreditch High St, Shoreditch London, E1 6PQ, United Kingdom
Call Center: Monday to Friday 9:00 - 18:00 EDT
Support Offered:
  • Email Support
  • Mobile App
  • Call Centre
  • Social Media
Availability: Worldwide

Products Offered

Below are all the products offered by this company.

Money Transfers:

TransferWise is a large, online international money transfer service that has over 8 million customers, and allows people to send money to bank accounts across the world.

 

Key Features:

No Hidden Fees: Costs shown upfront. No bad exchange rates. No surprises. Transparent finance. Charges are as little as possible.

Global Support: No complicated, automated systems. Worldwide offices, full of people that speak a range of languages that are ready to help you, whenever you need it.

Trusted: 

  • 14 offices around the world
  • $5 billion sent every month
  • 8 million customers
  • $1.5 billion saved by customers every year

Pricing:

TransferWise has Personal and Business pricing.

Transfer costs for Personal and Business depend on three things:

1. The amount you’re sending

2. How you pay

3. Exchange rate

Personal:

TransferWise charges a percent of the transfer amount, and a flat fee for certain transfer routes. The minimum TransferWise fees and percent depend on the country you are sending from and to, and certain currencies have variable fees depending on the total amount being sent. TransferWise does not charge recipients receiving money any cost, and it’s also important to note that they don’t make customers pay a setup fee, monthly charge, or fees to send or receive payments.

Business:

TransferWise claims to be 19x cheaper than competitors like PayPal because PayPal for example, inflates exchange rates when you send and receive international payments, and TransferWise does not.

  • Create your account: Free
  • Hold 50+ currency balances: Free
  • Fixed fee to send money (varies by currency): C$1.05
  • Get bank details to receive currencies: C$42(one-time-fee)

Frequently Asked Questions About TransferWise

What is TransferWise?

TransferWise is a large and trusted online money transfer provider that allows you to send money quickly and easily.

How much money does TransferWise send every month?

TransferWise helps customers send approximately 5 billion dollars every month.

How many countries does TransferWise support sending money to?

TransferWise supports sending money to over 70 countries.

Is TransferWise safe?

TransferWise 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 TransferWise?

First, you need to create an account with TransferWise. 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 TransferWise?

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 TransferWise have limits on how much money you can send?

TransferWise 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 TransferWise to send money overseas?

Typically, sending money overseas with TransferWise 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 TransferWise requires additional security checks.

Do you need a TransferWise account to receive money?

No, you do not need a TransferWise account to receive money sent via TransferWise. You do however need a bank account.

Is TransferWise cheaper than competitors?

TransferWise claims to be 19x cheaper than PayPal because PayPal inflates exchange rates when you send and receive international payments, and TransferWise does not.

How much does TransferWise cost to use?

Your transfer cost will depend on the amount you send, how you pay, and the exchange rate.

TransferWise Reviews

Avg. Rating: 4.8 (2 reviews)
TransferWise

I first tried TransferWise in 2019 and since then this is my #1 way to send cash abroad. Very easy to use.

Jeremy
Great for business transfers

In our business we work with several freelancers and vendors abroad and TransferWise is a great tool for international money transfers that are for business use.

Mel

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