No hidden charges. It's cheaper and faster to remit money overseas with TransferWise.
TransferWise is a British online money transfer service founded in January 2011.
TransferWise allows money transfer up to eight times more cheaply than with a bank. It bypasses pricey international payments entirely by using two local transfers instead of one international transaction.
Benefits of using TransferWise
- Send money abroad eight times cheaper than using regular high-street bank
- Transaction costs are always transparent, unlike some other providers which add a markup to the real exchange rate in addition to their fees
- TransferWise international payments on major routes from the UK and Europe are delivered within 24 hours – compared to 3-7 days for a regular bank.
- Arrange transfer online for convenience
- TransferWise is regulated by the Financial Conduct Authority, just like a UK bank, and trusted by 3 million people around the world. It verifies its users to protect against fraud and money laundering.
- Money is sent directly to the recipient’s bank account
- Suitable for both business and personal use
TransferWise also built a borderless account. Like a multi-currency account, it holdd over 40 different currencies and send and spend money overseas easily using contactless TransferWise debit Mastercard.
TransferWise exchange rates
Whenever money is sent using TransferWise, the transaction is made using the real, mid-market exchange rate.
How to use TransferWise
Visit TransferWise website, type in sender’s details and the recipient’s and how much money you wish to transfer. You can either type in your debit card details or send the money to TransferWise from your online bank account.
The money will then be sent straight to the recipient’s bank account, even if they don’t have a TransferWise account themselves.
TransferWise for business
If your business transfers money overseas regularly, TransferWise can help save you money by giving you access to the real mid-market rate of exchange, and charging only a small, fixed fee for transfer. You can get a TransferWise multi-currency borderless account for business, which holds balances in more than 40 currencies, to send and receive payments all over the world.
TransferWise not only save money on international payments, it is also a more efficient and professional service. Both the sender and the recipient will know exactly when money is due to arrive and an email confirmation will be sent to the sender for his financial records.
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