Is It Wise To Use Wise?

International Money Transfers Sending Money Abroad With Wise

Photo by Tech Daily on Unsplash

Pros

1. Low Fees:

• Transparent Pricing: Wise is known for its transparency. Before you complete a transfer, you can see a detailed breakdown of the fees associated with it, including the exact amount that will be charged and the exchange rate being used.
• Real Exchange Rate: Wise uses the mid-market exchange rate, which is the rate you see on Google or Bloomberg. This is the fairest rate available and typically means you get more value compared to services that add a margin to the exchange rate.

2. User-Friendly Experience:

• Simple Interface: The Wise website and mobile app are designed with user experience in mind. The process for setting up an account, making transfers, and managing funds is straightforward and intuitive.
• Quick Transfers: Most transfers are completed within a few hours to a couple of days. The speed of the transfer can depend on factors such as the currencies involved, the payment method, and the recipient’s country.

3. Global Reach:

• Extensive Coverage: Wise supports over 50 currencies and allows you to send money to and from more than 80 countries. This makes it a versatile choice for…