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 Wise, previously known as 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. Wise 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
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 Wise. Wise, originally 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 Wise (TransferWise) vs. CurrencyFair, and I made the decision to go with Wise. Here are the five reasons that made my choice possible. Continue reading