About
Overview
Wise (formerly TransferWise) is an international money transfer service. It bypasses traditional banking routes by using local bank accounts, offering transfers at the real mid-market exchange rate with low, transparent fees.
Pricing & Free Tier
Free Tier: Free to open an account and receive money.
Transfer Fees: A small percentage of the transfer amount (e.g., ~0.4% to 1% depending on the currency pair).
Wise Account: One-time setup fee for a multi-currency account (varies by country).
How to Use
- Sign up at wise.com and verify your identity.
- Enter the destination currency and amount.
- Select your payment method (debit card, bank transfer).
- Recipients can receive funds via local bank transfer, which usually takes 1-2 business days.
Important Notes
- No Cash Deposits: Wise does not accept cash or checks. You must fund transfers via bank transfers or debit cards.
- Availability: Wise is not available in some regions (such as certain US states or sanctioned countries).