Wise - The global technology company solving cross-currency
for the world
Wise (formerly TransferWise) builds products that solve the problems of the clunky old-school financial system, making international banking and cross-currency payments fast, easy, transparent, and ridiculously cheap. Today, over 10 million people and businesses use Wise products to make money easier when they live, work, travel or do business around the world.
With a Wise account you can:
- Send money to 80 countries at fees up to 7 times cheaper than traditional banks
- Open international bank details for 9 currencies, including likes of Euro, US Dollar, British Sterling, Singaporean Dollar and Australian Dollar. You can do this online in minutes and use these account details to receive payments in these currencies for free
- Hold over 50 currencies within your Wise account, converting between then at the mid-market exchange rate as and when you need them
- Spend money around the world with the Wise debit card at the best exchange rate and low fees
- 34% of Wise’s transfers are instant
- Track the status of your transfer via your Wise account or receive notifications via email
- Account can be opened online in minutes with access via desktop and mobile app
- Customer support provided over phone, live chat and email in multiple languages
Who is the Wise account for?
The Wise account is ideal for anyone with a need to:
- Send money overseas to friends and family
- Receive payments in multiple currencies for personal or business use
- Hold money in multiple currencies
- Get access to international bank details without the hassle and fees of visiting a bank branch - ideal for those living across two countries or with mortgages or fees to pay overseas
- Frequent travellers looking for the best way to avoid high exchange rate markups and transaction fees when spending abroad
Is Wise safe and secure?
Yes it is. Since 2011, more than 10 million customers in 170 countries have used Wise. They move over £4.5 billion every month of customers’ money.
They are regulated in every single country they operate in, from the FCA in the UK to FinCen in the US. They have a specialised, in-house team that looks after security.
By law, Wise has to safeguard customer funds. That means they keep all of their customers’ money in accounts that are completely separate to the ones they use to run their business. So if anything were to happen to Wise, your money would be safe (though please note Wise does not protect your money in financial protection schemes like the Financial Services Compensation Scheme (FSCS) as they don’t lend out customers’ money.) Instead money is held with established financial institutions like JP Morgan Chase and Barclays to protect customers’ funds.
What are the fees?
- Free to open a personal account
- No monthly minimums or monthly account charges
- Pay a small fixed fee & a % of the transfer volume sent when you send money overseas (differs dependent on currency route)
- Money is always converted at the mid-market rate
- £5 fee for ordering debit card
- Discounted fees available for transfers above £100K either in one transfer or made within a one month period
- See how much it would cost you via the calculator below