When I first started sending money overseas, I made sure to do plenty of research to find out the best peer to peer payment providers that I could use. My basic criteria were that the company should be legal, easy to access, safe, and have no hidden fees or charges. My final choice came down to TransferWise vs. CurrencyFair, and I made the decision to go with TransferWise. Here are the five reasons that made my choice possible. Continue reading
Surveys indicate that immigrants and business corporations transfer billions of dollars all over the world. By 2015 according to the World Bank, $515 billion will be transferred.
Sir Richard Branson better known as founder of Virgin group of companies decided to back Transferwise, an online transaction start-up whose aim is to tap into the huge money transfer market and revolutionize the way the way things work by stamping out hidden charges that other transfer institutions like banks impose on customers.
Transferwise has received a funding of $25million from sir Branson, Peter Thiel, Index Ventures and IA ventures. This has been viewed as a stamp of approval by many especially customers who are always on the lookout for cheaper, easier ways to transfer their cash. To date, the total financial backing of the company stands at $33million in which the founder of PayPal, Max Levchin contributed 1.3 million dollars. Continue reading
If you send money to India frequently using bank and wire transfers, then you know how expensive it is. If you want to send money to India without paying exorbitant transfer fees, TransferWise is the answer to your prayers. TransferWise is an inexpensive, smart and secure way to wire money directly to family and friends in India. This currency exchange service allows you to send money to India from USA or from Europe to India without any hassle. You can also send outward remittance from India. Here are some benefits of using TransferWise. Continue reading
Making payments with Transferwise is very straight forward. Their website has intuitive and simple interface and the entire process takes just a couple of minutes. In order to place your order you need:
- Select currencies you like to send and receive
- Provide the amount you would like to send
- Fill in recipient’s account details (same as for regular bank transfers)
- Open a new browser window and login to your internet bank. You’ll need to make a regular bank transfer to the account provided on your Transferwise payment confirmation page. Make sure you put a correct reference number as it’s used to link your bank transfer with your Transferwise payment.
For your regular payments I would recommend to save the recipient details in order to speed up your further payments.
There is a nice video that illustrates entire process.
Recently Transferwise introduced Get Paid service that must be loved by freelancers and remote employees at the first place. You can specify how much money in given currency you’d like to get from someone and generate a short link for this payment. The only requirement – you both need to be registered at Transferwise. Continue reading
Transferwise is a revolutionary money transfer service that’s changes the way how we think about fund transfers. Unlikely banks and typical payment systems they transfer money between people rather than countries. It may sound complicated from the beginning but the idea under the hood is very simple.
The remarkable thing is that all people who take part are helping each other to make their payments happen. Continue reading
Safety is one of the most important aspects of anything related to your money. It’s natural to be extra careful and try to get as much details as possible when looking for online financial service. If you are reading this article then most probably you have questions about Transferwise. Is it secure and reliable partner for your money transfers? Yes, it definitely is and this article reveals various facts that proves that.