Wise

Wise, formerly known as TransferWise, is an online financial services company founded in 2010 by Taavet Hinrikus and Kristo Käärmann. Its main focus is to facilitate international money transfers quickly, securely and economically. Over the years, Wise has gained widespread popularity among consumers and has become one of the most trusted options for sending money abroad.

In this text, we will explore the most frequently asked questions about this company and provide detailed answers to help readers better understand this platform and how they can benefit from it.

What is the difference between Wise and other money transfer services?

One of the main differences between Wise and other money transfer services is its focus on transparency and honesty in its fees. While many traditional banks and transfer services charge hidden fees and unfavorable exchange rates, TransferWise offers a clear and transparent service fee, along with a real and competitive exchange rate. This means that users know exactly how much they are paying for their transfer and receive more for their money compared to other options.

How does Wise work?

How Wise works is quite simple. When a user wants to send money abroad, they only need to enter the amount they want to transfer and the origin and destination currency. TransferWise will automatically calculate the service fee and provide the user with the exchange rate in real time. Once the user completes the transfer payment, the company will convert the currency and transfer the money to the recipient in a matter of minutes. The entire process can be carried out quickly and securely through the website or mobile application.

Is it safe to use Wise to send money abroad?

Yes, Wise is a very secure platform for making international money transfers. The company is regulated by the UK Financial Conduct Authority (FCA) and meets the strictest security standards in the online financial services industry. Additionally, uses advanced encryption technology to protect its users’ personal and financial information, ensuring the security and privacy of each transaction.

How much does it cost?

The costs of using Wise vary depending on the amount of money you want to transfer, the currencies involved and the payment method selected. The company charges a service fee that is calculated as a percentage of the amount transferred, plus a small flat fee on some transactions. However, compared to traditional banks and other transfer services, TransferWise is usually much cheaper and more transparent in terms of fees.

How long does it take for the transferred money to arrive?

The delivery time of a transfer with Wise depends mainly on the origin and destination currency, as well as the payment method selected by the sender. In general, transfers through TransferWise are usually processed within minutes, but in some cases they can take up to two business days to complete. The company provides users with an accurate delivery time estimate at the time of transfer, so they can have a clear idea of when the recipient will receive the money.

What currencies does it support?

Wise supports a wide variety of currencies from around the world, allowing users to transfer money to virtually any country and region. Some of the most popular currencies supported by TransferWise include the US dollar, Euro, British pound, Japanese yen, Australian dollar, and many others. Users can check the complete list of supported currencies on the website to check if the desired currency is available.

Conclusion

Wise is a convenient, secure and affordable option for sending money abroad. With its focus on fee transparency, transaction security and speed of service, TransferWise has earned the trust of millions of users around the world. If you are looking for an efficient way to transfer money internationally, it is definitely a great option to consider.