Wise — The international money transfer and multi-currency account with real mid-market exchange rates
Wise (formerly TransferWise) allows individuals and businesses to send money abroad, receive foreign currencies, and spend globally without hidden fees.
About Wise
Wise revolutionizes international banking by bypassing expensive SWIFT hidden markups. Utilizing the real mid-market exchange rate and low transparent fees, Wise enables 16 million people and businesses to hold 40+ currencies, obtain local bank account numbers in 9+ countries, and spend via the Wise debit card.
Key features
- Real Mid-Market Exchange Rate — Zero markup on the exchange rate — exactly what you see on Google or Reuters.
- Multi-Currency Account (40+ Currencies) — Hold and convert dozens of currencies instantly inside a single account.
- Local Bank Account Details (9 Countries) — Get local US routing numbers, UK sort codes, and European IBANs to get paid like a local.
Pricing
Pricing model: Freemium.
- Personal Account — Free setup / usage — Hold 40+ currencies, Mid-market exchange rate, Virtual cards, Low transparent transfer fee
- Wise Business — $31 one-time — Local bank details in 9 currencies, Batch payments (up to 1,000), Xero & QuickBooks sync, Multi-user access
Pros
- Up to 8x cheaper than traditional high street banks for international wire transfers
- Gives you real local bank account numbers in the US, UK, Europe, Australia, and Canada
- Transfers arrive almost instantly on major global currency corridors
Cons
- Not a full chartered lending bank (does not offer overdrafts or business loans)
- Cash deposits are not supported
Platforms
Web, iOS, Android