Do you need to send money to somebody in a different country? Do you need to pay somebody in different currency and not lose money on exchange rate? Shortly, if you use PayPal for this purpose you would have to pay much higher fees comparing to TransferWise. You should understand it’s not an alternative but different payment system. PayPal’s primary function is to make and receive payments (for goods and services) not to make money transfers. TransferWise is designed for international money transfers at first pace. In this article I’m going to explain main differences of these two providers. Continue reading
Searching for an easy, quick and cheap way to receive and send money internationally? The new TransferWise service named Borderless account has it all covered. You can open a bank account online, hold and manage money in 15 different currencies on it.
TransferWise is an international company which has bank accounts in most parts of the world, so they are using peer-to-peer technique, providing very low fees for currencies conversion.
Borderless account is their newest service introduced this month, which allows you to open a bank account quickly online in order to have money deposited on it. This makes it great to be used by expats, freelancers, business owners and whoever has the need for international transactions. Continue reading
Sending money abroad can be pain if you not aware of right tools. Banks, services like Western Union and other “classical” big players on the market usually have non-competitive currency exchange rates and high fees. Fortunately there is a new way of sending money overseas – peer to peer payment services. TransferWise is number one choice in most of cases. It’s online peer to peer financial service that is transparent and legally regulated business. Over £800 million passes through TransferWise every month and it’s used by private persons, businesses and banks like N26 and LHV.
Recently TransferWise announced their new feature that will allow sending money abroad event easier than before. They created Facebook chat bot application that resides in your Facebook messenger on your smartphone or tablet. TransferWise Bot is available for all existing customers and it can become your personal assistant in money transfers. It can do many things, lets quickly review how it can make your life easier. Continue reading
Before I make any decisions to purchase a product or try out a new service, I take the time to find out what customers have to say about the product. For me, customer reviews, especially the TransferWise complaints, give an indication of what is really happening with the company. TransferWise takes the time to listen to their customers, understand their problems and solve them as soon as possible, and better than the customer expected. It is clear to me that they place emphasis on managing their reputation. Here are some of the typical TransferWise complaints I have come across, including the steps that the company has taken to resolve the issues. Continue reading
I’m living and working abroad for about five years so far and as any other expat I quickly faced the problem of sending money to home country. Moreover, I’m frontier worker who work in Gibraltar and live in Spain. Different countries, different currencies and I had to find a way how to sort out my money transfers between them. The cost of a transaction makes me think twice about how much I am sending, and how often. Then I discovered TransferWise and it was as though my eyes opened for the first time. Continue reading
Choosing between any two competing service providers can be a very daunting task. This is what hits you when you want to choose between HiFX and Transferwise. Transferwise is a British start-up money service company established by the founders of Skype and PayPal in 2011. They started an easy and new initiative to convey money between people instead of countries.
HiFX was founded in 1998. It has its head office in UK Windsor, Berkshire. It was formed solely to solve the question why it cost so much to send money overseas and seek to provide a cheaper means to do so by offering better exchange rates. HiFX is privately owned. It was acquired in 2014 by NASDAQ listed Euronet Worldwide, Inc. Continue reading
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
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.
>>> Learn more at Transferwise and forget about high fees!<<<
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