Last Updated on April 17, 2023 by Mavia
How Much It Costs To Send Money Abroad With Wise (formerly known as TransferWise) is a popular online money transfer service that has gained a reputation for being one of the best and most affordable options for sending and receiving money across borders.
Pay a nominal flat rate plus a percentage
You must pay a nominal, upfront fee of 0.20 GBP plus 0.41% of the amount being exchanged in order to send money from GBP to EUR. depending on the sort of transfer you choose. How Much It Costs To Send Money Abroad With Wise Different transfer kinds have costs, which are typically negligible. No extra costs. No significant fees, hidden or not. So, it is less expensive than what you are used to.
How long does it take to transfer money
Wise can send your money across a number of well-traveled routes within a day, as a same-day transfer, or even as an instant money transfer. The transfer delivery time may occasionally be impacted by different payment options or standard checks. You can follow each step in detail and we’ll keep you informed at all times.
Here are some reasons why WISE is considered the best for transferring money:
Low fees: One of the biggest advantages of using WISE for money transfers is its low fees. WISE charges a transparent fee that is typically much lower than what traditional banks charge for international transfers. Additionally, WISE uses the mid-market exchange rate, which is the fairest exchange rate possible, meaning you get the most value for your money.
Fast transfers: WISE transfers are typically completed within one to two business days, which is faster than many other money transfer services. This is especially important for urgent transfers, such as those needed for emergencies or to pay bills.
Easy to use: WISE’s platform is user-friendly and straightforward, making it easy for even first-time users to transfer money. The process is simple and intuitive, and the website and mobile app are both easy to navigate.
Secure: WISE uses advanced security measures to protect users’ financial information, and it is regulated by financial authorities in multiple countries, including the UK and the US. Additionally, WISE is authorized by the Financial Conduct Authority (FCA) and is subject to strict rules and regulations.
Multiple currencies: WISE supports more than 50 currencies, making it an excellent choice for individuals and businesses who need to send and receive money globally. This means you can send money almost anywhere in the world, even to countries with less common currencies.
Transparent pricing: WISE’s fees are clearly displayed upfront, and you will always know exactly how much you will be charged before you confirm the transfer. This transparency is a refreshing change from the hidden fees and confusing exchange rates that can be associated with traditional banks and other money transfer services,
Great exchange rates: WISE uses the mid-market exchange rate, which is the same rate you’ll find on Google and other financial websites. This means that you get a fair exchange rate and that there are no hidden fees or markups. Additionally, WISE has a feature called “Rate Alerts” that will notify you when the exchange rate reaches a certain level, so you can make your transfer at the most favorable time
24/7 customer support: WISE’s customer support team is available around the clock to answer any questions or concerns you may have. You can reach them by phone, email, or live chat, and they are known for being helpful and responsive
Business-friendly: WISE is an excellent choice for businesses that need to make international payments, as it offers features like multi-currency accounts, payment approvals, and batch payments. Additionally, businesses can integrate WISE into their existing accounting software, making it easier to manage finances and keep track of payments.
Socially responsible: WISE is committed to being a socially responsible company, and it has a number of initiatives that reflect this commitment. For example, WISE is a B Corp-certified company, which means it has met rigorous standards for social and environmental performance. Additionally, WISE has a program called “Send Money, Plant Trees” that donates a portion of its fees to reforestation projects around the world.
In summary, WISE is one of the best options for transferring money due to its low fees, fast transfers, user-friendly platform, advanced security measures, and support for multiple currencies. It’s an excellent choice for anyone who needs to send or receive money internationally.
WISE is a reliable, affordable, and user-friendly option for transferring money internationally. Whether you’re an individual sending money to family or friends overseas or a business making international payments, WISE is a great choice that offers Many Benifits over traditional banks and other money transfer services.