Name: Wise (Previously TransferWise)
Tool Category: Finance
Tool Language: English
Description: Wise removes all the wrongness, letting people send money abroad at the lowest possible true cost. Using only real exchange rates and tiny not-hidden fees. You always know where your money is. You’ll be updated via email at each stage of the transfer.
With Wise you can:
- Send money
- Receive money
- Get a borderless account and card
Main features for businesses/freelancers
– Wise is an international account that helps freelancers save money when working with customers all over the world
– With Wise freelancers can receive money from platforms like UpWork, Fiverr, and more in the local currencies to avoid high conversion rates
– With local bank details for Euro, British Pound, US / Singapore / Australian / Canadian dollar – you can invoice your clients in their desired currency
Price and convenience
– Wise does not charge any subscription fees and we always convert your money at the mid-market exchange rate and charge low upfront fees
– Wise is up to 19 times cheaper than PayPal
– Wise is integrated into the instant payment systems in many countries, which allows us to offer instant payments
– With Wise, you get a multi-currency debit card that lets you save money on currency exchange when traveling or buying goods or services online
– With the batch payments feature – Wise allows companies to pay employees, suppliers, or freelancers with a click of a button, without crazy exchange fees
– Wise is integrated with accounting solutions like Xero and Quickbooks
– Wise also regularly creates new features for our customers, for example, we’ve recently launched an array of business templates (including invoicing, freelance contracts, and more)
Your Review of The Tool:
The pioneering online money transfer system that charges much less than banks, is faster and allows you to track your money at every stage of the process, alerting you when the other party has received the money. It now has also an account and card option that also allows you to pay directly with them with no fees, as well as free ATM withdrawals for up to 200 Pounds.
Rate the Tool:
What are the “pros” & benefits?:
- The first easy-to-use online money transfer service of its kind, easy to set, and use and much more convenient and cheaper than banks.
What are the “cons” & issues?:
- Although the service is available in a high number of countries, is still not available all over the world. Also, in some countries, there are service restrictions, as in Brazil.
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