By Sierra Holdings Inc.
Have you ever sent money internationally and been surprised by the high fees? You're not alone. Traditional banks often charge hidden fees in the exchange rate, which can make your transfer much more expensive than you expected.
Wise (formerly TransferWise) offers a solution to this problem. Wise is a money transfer service that uses the real mid-market exchange rate and charges low, upfront fees. This means that you can save up to 8 times on international transfers compared to using a traditional bank.
Here are some of the main features of a Wise account that help solve the problem of hidden fees in the exchange rate:
- Price: Wise uses the real mid-market exchange rate, which is the average rate between the buy and sell price of a currency. This means that you get the best possible exchange rate for your transfer. Wise also charges low, upfront fees, so you know exactly how much you'll pay before you send your money.
- Safety: Wise is regulated by financial authorities in all countries where it operates. This means that your money is safe and protected.
- Speed: 55% of transfers with Wise arrive instantly. 76% of all transfers arrive within an hour and 93% within a day.
- Coverage of currencies and countries: Wise allows customers to hold, spend, and send money in over 40 different currencies. You can send money to over 200 countries and territories. Send money now.
Wise offers a variety of products and services to help you save money on international transfers:
- Wise account: A Wise account is a multi-currency account that allows you to hold, send, and spend money in over 40 different currencies. Open an account.
- Wise debit card: A Wise debit card is a multi-currency debit card that allows you to spend money in over 200 countries and territories without exchange rate markups.
- Wise travel card: A Wise travel card is a prepaid travel card that allows you to load money in multiple currencies and spend it abroad without exchange rate markups.
- Wise Business: Wise Business offers a variety of features to help businesses save money on international transfers, such as bulk transfers, multi-user accounts, and API integration. Open a business account.
- Wise Large Transfers: Wise Large Transfers is a service for sending large amounts of money internationally. Wise offers competitive exchange rates and low fees for large transfers. Send money now.
- Wise Interest: Wise Interest allows you to earn interest on your money in multiple currencies. Wise Interest is a good option for people who want to save money on international transfers and earn interest on their money at the same time.
Who should use Wise?
Wise is a good option for anyone who wants to save money on international transfers. Wise is especially useful for people who send money internationally on a regular basis, such as freelancers, businesses, and expats.
Here are some examples of how people use Wise:
- A freelancer who lives in the United States and works with clients from all over the world uses Wise to send invoices and receive payments in multiple currencies.
- A business owner who imports goods from China uses Wise to pay for its suppliers.
- An expat who lives in Spain and works for a company in the United States uses Wise to receive her salary and send money back to her family in the United States.
If you're looking for a way to save money on international transfers, Wise is a great option. Wise offers competitive exchange rates, low fees, and a variety of products and services to meet your needs.