{"id":26564,"date":"2022-01-17T10:02:26","date_gmt":"2022-01-17T18:02:26","guid":{"rendered":"https:\/\/financer.com\/?post_type=company_single&#038;p=26564"},"modified":"2024-07-31T12:24:46","modified_gmt":"2024-07-31T19:24:46","slug":"wise","status":"publish","type":"company_single","link":"https:\/\/financer.com\/company\/wise\/","title":{"rendered":"Wise"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large shortcode-no\"><img decoding=\"async\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2020\/07\/wise-transferwise-mnenija-1024x532.jpg\" alt=\"Wise reviews\" class=\"wp-image-40474\"><figcaption class=\"wp-element-caption\">Wise review. Photo from the new Wise.com<\/figcaption><\/figure>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Wise<\/strong> (formerly known as TransferWise until 2021) <strong>is an online service for cheap and speedy international money transfers<\/strong>.<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><li><p><strong>Users pay lower and more transparent fees<\/strong> when transferring money with Wise compared to many traditional banks and other services.<\/p>\n<\/li><li><p>Additionally, <strong>Wise uses the mid-market exchange rate without any markups,<\/strong> which also can save users money.<\/p>\n<\/li><li><p>You can shop anywhere in the world <strong>without additional fees and at the real exchange rate<\/strong>.<\/p>\n<\/li><li><p>You can hold and exchange over 40 currencies.<\/p>\n<\/li><\/ul><\/div>\n\n\n<p>In this Wise review, you will learn the<strong> biggest advantages<\/strong> of the company, is Wise safe, <strong>how does Wise work, how to register, how to make your first transfer<\/strong>, and <strong>what to watch out for<\/strong>.<\/p>\n\n\n\n<p>You can also read <strong>Wise reviews from other customers<\/strong> at the bottom of the page and <strong>share your experience<\/strong> if you already have one.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Important_Things_to_Know_About_Wise\">Important Things to Know About Wise<\/h2>\n\n\n\n<p>The company was <strong>founded as TransferWise in 2011<\/strong>.<\/p>\n\n\n\n<p>In 2021, it shortened its name to Wise, and in 2023, it rebranded its vision to better reflect its international character.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Whoa, new look\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/JRRzPITP1R4?start=43&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Currently, Wise has over 16 million individual customers, 300,000 business accounts, and around 9 billion dollars in monthly transaction volume.<\/p>\n\n\n\n<p>This impressive growth has led many to ask, <strong>&#8220;Is Wise legit?&#8221;<\/strong> The answer is a resounding yes. Wise is a fully regulated financial institution, providing secure and efficient international money transfer services.<\/p>\n\n\n\n<p>Our team has thoroughly researched and tested the Wise platform and app to determine if it&#8217;s worth it.<\/p>\n\n\n\n<p><strong>And spoiler alert: we think it is. <\/strong><\/p>\n\n\n\n<p>First, let&#8217;s review some key details about Wise in the table below. <\/p>\n\n\n\n<p>While reading, you might want to compare this data with the banking services you currently use.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-fn-tables shortcode-no\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Feature<\/th><th>Wise<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>US customers are served by<\/strong>:<\/td><td>Wise US Inc., a financial company registered in the USA<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Wise is best for:<\/strong><\/td><td>Expats, digital nomads, international businesses<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Wise is known for:<\/strong><\/td><td>Cheap international money transfers<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Account opening:<\/strong><\/td><td>0 USD<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Receiving local payments (non-Swift \/ non-wire)<\/strong>. For AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY<\/td><td>0 USD<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Receiving USD wire payments<\/strong><\/td><td>Fixed fee of 6.11 USD<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Receiving CAD Swift payments<\/strong><\/td><td>10 CAD<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Receiving Swift payments in 21 currencies<\/strong><\/td><td>0 USD<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Monthly fee:<\/strong><\/td><td>0 USD<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong><strong>Deposit methods from the USA:<\/strong><\/strong><\/td><td>Bank transfer, credit\/debit card<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong><strong>Fee for sending USD:<\/strong><\/strong><\/td><td>From 0.33%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Transaction time:<\/strong><\/td><td>You choose. Fastest &#8211; within a few hours, higher fees. Slowest &#8211; 1 business day<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Wise debit card:<\/strong><\/td><td>Currently not available in the USA<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Currencies:<\/strong><\/td><td>USD, EUR, GBP, AUD, CAD, CHF, PLN, SEK, NOK, DKK, HUF, CZK, RON, NZD, SGD, HKR, BRL, HKD, JPY, TRY, INR, CLP, GEL, MYR, PHP, PKR, MAD, THB, AED, UAH, IDR, COP, MXN, RUB, KRW, CNY, LKR, BDT, VND, ARS, EGP, GHS, ILS, KES, NGN, NPR, PEN<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Minimum age:<\/strong><\/td><td>18 years<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Key details about Wise<\/figcaption><\/figure>\n\n\n\n<p><strong>A common question among potential users is, &#8220;Is Wise safe?&#8221; <\/strong>So let&#8217;s answer it straight away. <\/p>\n\n\n<div class=\"fn_block block_fn_msg_box info\"><div class=\"fn_block__icon\"><\/div><p>Wise is a regulated financial institution that prioritizes the security of its customers&#8217; funds and personal information.<\/p>\n<p>In the United States, Wise US Inc. is registered with the Financial Crimes Enforcement Network (FinCEN) and is supervised by regulatory authorities in each state.<\/p><\/div>\n\n\n<p>It employs state-of-the-art security measures, <strong>including data encryption and two-factor authentication, to protect user accounts<\/strong>. <\/p>\n\n\n\n<p>Additionally, the company is transparent about its fees and exchange rates, further enhancing its trustworthiness.<\/p>\n\n\n\n<p class=\"has-normal-font-size\">If you frequently travel abroad or have a close one living overseas, <strong>Wise might be a cost-effective solution for transferring funds, saving you money and time.<\/strong><\/p>\n\n\n\n<p>Registration takes about a minute and is entirely intuitive. You can start by <a href=\"https:\/\/financer.com\/company\/wise\/redirect\/\" data-type=\"URL\" data-id=\"https:\/\/financer.com\/company\/wise\/redirect\/\" rel=\"sponsored noopener nofollow\" target=\"_blank\">visiting the Wise website<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"How_Does_Wise_Work\">How Does Wise Work?<\/h2>\n\n\n<div class=\"wp-block-image is-style-default shortcode-no\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2023\/03\/kak-raboti-wise-1024x561.jpg\" alt=\"Wise Bulgaria\" class=\"wp-image-40593\"><figcaption class=\"wp-element-caption\">How Wise Works? Image from the new Wise.com<\/figcaption><\/figure><\/div>\n\n\n<p><\/p><p>Wondering how Wise&#8217;s does not charge mark-ups on their exchanges?<\/p><br>\n\n\n<div class=\"fn_block block_fn_msg_box boxed\"><div class=\"fn_block__icon\"><\/div><p>The secret is that when you send money in another currency with Wise, it doesn&#8217;t really need to be converted like it does in banks.<\/p><\/div>\n\n\n<p><strong>Here&#8217;s how it works:<\/strong><\/p>\n\n\n\n<p>Wise has a bank account in every country it operates in.<\/p>\n\n\n\n<p>So when you send money from the USA to a recipient in Mexico in pesos, your money doesn&#8217;t even leave the country.<\/p>\n\n\n\n<p><strong>Here&#8217;s what actually happens:<\/strong><\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ol class=\"check\"><li><p>You make a local transfer from your USD account to Wise\/TransferWise USA&#8217;s account.<\/p>\n<\/li><li><p>Wise transfers the due amount in pesos from its pesos account within Mexico to the recipient.<\/p>\n<\/li><\/ol><\/div>\n\n\n<p>This simple mechanism allows the company to offer <strong>fairer exchange rates<\/strong> since actual currency conversion is not carried out.<\/p>\n\n\n\n<p>Through the mobile app or the website,<a href=\"https:\/\/financer.com\/company\/wise\/redirect\/\" data-type=\"link\" data-id=\"https:\/\/financer.com\/company\/wise\/redirect\/\" rel=\"sponsored noopener nofollow\" target=\"_blank\"> <strong>you can check at any time how much local currency<\/strong> <strong>you need to transfer<\/strong> <\/a>for the recipient to receive the desired amount.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Wise_Fees\">Wise Fees<\/h2>\n\n\n\n<p>Understanding Wise fees is crucial for users looking to make the most of this service. <\/p>\n\n\n\n<p>Wise fees are clearly displayed before you make the transfer and\u00a0<strong>vary depending on the amount, the currency, and how fast you want the transfer to be<\/strong>.<\/p>\n\n\n\n<p>They are usually a percentage of the amount that is being sent.<\/p>\n\n\n<div class=\"fn_block block_fn_msg_box info\"><div class=\"fn_block__icon\"><\/div><p>If you&#8217;re sending money from one account to another in the same currency, there will be no currency conversion fee. Wise, however, will charge a fee for the service.<\/p><\/div>\n\n\n<p>On the other hand, if you transfer USD from the U.S. to pesos in Mexico, your transfer will be converted using mid-market rates.<\/p>\n\n\n\n<p>Here are the results from a recent experiment we ran to see how what is the cost of sending $1,000 to Mexico.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular shortcode-no\"><table><thead><tr><th>Transfer method<\/th><th>Total transfer fees<\/th><th>Amount received<\/th><th>Transfer Time<\/th><\/tr><\/thead><tbody><tr><td>Connected bank account (ACH)<\/td><td>9.86 USD<\/td><td>18,403.53<\/td><td>Seconds<\/td><\/tr><tr><td>Wire transfer<\/td><td>13.16 USD<\/td><td>18,343.58<\/td><td>2 hours<\/td><\/tr><tr><td>Debit card<\/td><td>30.58 USD<\/td><td>18,019.77<\/td><td>30 minutes<\/td><\/tr><tr><td>Credit Card<\/td><td>74.88 USD<\/td><td>17,193.91<\/td><td>30 minutes<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">WIse fees. Test conducted on July 31st, 2024<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"How_to_Make_a_Wise_Transfer\">How to Make a Wise Transfer<\/h2>\n\n\n\n<p>Understanding how to make a Wise transfer is essential for anyone considering this service.\u00a0<\/p>\n\n\n\n<p>Sending money abroad with Wise is fast. Around half of<strong> Wise transfers are instant<\/strong>, and\u00a0<strong>80%+ arrive within 24 hours<\/strong>.<\/p>\n\n\n\n<p>Some factors that can impact your transfer are:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"check\"><li><p>The currency you send money in.<\/p>\n<\/li><li><p>The country to which you&#8217;re sending.<\/p>\n<\/li><li><p>The way you pay. <\/p>\n<\/li><li><p>Public holidays and banking hours.<\/p>\n<\/li><li><p>Security checks.<\/p>\n<\/li><\/ul><\/div>\n\n\n<p>Usually when you prepare to send a transfer, you will get an estimate about when your transfer will arrive. <\/p>\n\n\n\n<p>And here is a step-by-step guide on how to make a Wise transfer: <\/p>\n\n\n<h3 id=\"How_to_Make_a_Wise_Transfer_Step_by_Step\">How to Make a Wise Transfer Step-by-Step<\/h3><h4>Steps<\/h4><div class=\"single-article__steps-toc_step\"><a href=\"#step_1\">1. Open a Wise Account<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_2\">2. Select Send Money<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_3\">3. Enter the amount and desired currencies<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_4\">4. Choose a recipient<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_5\">5. Fill in the details<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_6\">6. Verify your identity<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_7\">7. Review the transaction<\/a><\/div><div class=\"single-article__steps-toc_step\"><a href=\"#step_8\">8. Confirm and pay<\/a><\/div><div class=\"single-article__steps\">        <style>\n            .single-article__steps-items .single-article__steps-content {\n                background: #FFFFFF;\n                padding: 30px;\n                margin: 0 0 30px 0;\n                border-radius: 10px;\n                box-shadow: 0 0 10px 0 rgba(0, 0, 0, 0.14);\n                width: calc(100% - 5px);\n            }\n            .single-article__steps-items .single-article__steps-counter {\n                padding: 5px 20px;\n                border-radius: 3px;\n                background-color: #F5E7D8;\n                display: inline-block;\n                top: 15px;\n                left: -30px;\n                position: relative;\n                font-size: 16px;\n                font-weight: 600;\n            }\n\/*            .single-article__steps-items::before {\n                content: \"\";\n                position: absolute;\n                top: 20px;\n                left: 0;\n                height: calc(100% + 40px);\n                border-left: 2px dashed #e0e0e1;\n            }*\/\n            .single-article__conclusion-tag {\n                padding: 5px 20px;\n                border-radius: 3px;\n                color: #000000;\n                background-color: #F5E7D8;\n                display: inline-block;\n                top: 15px;\n                left: -30px;\n                position: relative;\n                font-size: 16px;\n                font-weight: 600;\n            }\n            .single-article__conclusion-item {\n                background: #FFFFFF;\n                padding: 30px;\n                margin: 0 0 30px 0;\n                border-radius: 10px;\n                box-shadow: 0 0 10px 0 rgba(0, 0, 0, 0.14);\n            }\n        <\/style>\n        <div class=\"single-article__steps-items\"><div class=\"single-article__steps-counter\" id=\"step_1\">Step 1<\/div><div class=\"single-article__steps-content\"><h3 id=\"Open-a-Wise-Account\">Open a Wise Account<\/h3><p>To send money abroad with Wise, you first need to open an account with them. You can do so by <a href=\"https:\/\/financer.com\/company\/wise\/redirect\/\" data-wplink-edit=\"true\" rel=\"sponsored noopener nofollow\" target=\"_blank\">going directly to their website<\/a> or by clickling the link below this tutorial.\u00a0<\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_2\">Step 2<\/div><div class=\"single-article__steps-content\"><h3 id=\"Select-Send-Money\">Select Send Money<\/h3><p>On the Wise homepage, above the left menu, you will find a green button that says &#8216;Send money&#8217;. Click on it.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-40522 size-large\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2020\/07\/wisetransfer-1024x338.png\" alt=\"wisetransfer\" width=\"1024\" height=\"338\"><\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_3\">Step 3<\/div><div class=\"single-article__steps-content\"><h3 id=\"Enter-the-amount-and-desired-currencies\">Enter the amount and desired currencies<\/h3><p>Specify the amount you want to send and the respective currencies. Note that currently Wise supports same currency transfers only for EUR and USD transactions.<\/p>\n<p>\u00a0<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-79849 size-large\" src=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/sending-usd-to-eur-with-wise-1024x475.jpg\" alt=\"sending usd to eur with wise\" width=\"1024\" height=\"475\" srcset=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/sending-usd-to-eur-with-wise-1024x475.jpg 1024w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/sending-usd-to-eur-with-wise-300x139.jpg 300w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/sending-usd-to-eur-with-wise-768x356.jpg 768w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/sending-usd-to-eur-with-wise-1536x713.jpg 1536w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/sending-usd-to-eur-with-wise.jpg 1772w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_4\">Step 4<\/div><div class=\"single-article__steps-content\"><h3 id=\"Choose-a-recipient\">Choose a recipient<\/h3><p>In the next step, you need to choose a recipient. You can send money to your account, another person, or a business.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-40524 size-large\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2020\/07\/wize-transfer-1024x362.png\" alt=\"wize transfer\" width=\"1024\" height=\"362\"><\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_5\">Step 5<\/div><div class=\"single-article__steps-content\"><h3 id=\"Fill-in-the-details\">Fill in the details<\/h3><p>Fill in the recipient&#8217;s bank details and email.<\/p>\n<p>If you don&#8217;t know their account number, <strong>Wise will send them an email requesting them to fill in these details after you make your transfer.<\/strong><\/p>\n<p>If they do not respond to the email, the transfer will be returned to you.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-40525 size-large\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2020\/07\/wise-prevod-1024x518.png\" alt=\"wise transfer\" width=\"1024\" height=\"518\"><\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_6\">Step 6<\/div><div class=\"single-article__steps-content\"><h3 id=\"Verify-your-identity\">Verify your identity<\/h3><p>If you haven&#8217;t verified your identity yet, the platform will give you instructions on how to do so before your first Wise transfer. <br><br>You will receive an email. Click on the link in it and follow the steps. You will need to take a photo of your diver&#8217;s license and a selfie. Then Wise will ask you a few questions:<\/p>\n<ul>\n<li>What is the primary purpose of using your account?<\/li>\n<li>Which countries will you send transfers to and from?<\/li>\n<li>What volume of funds do you plan to transfer?<\/li>\n<li>What is your main source of income?<\/li>\n<\/ul><\/div><div class=\"single-article__steps-counter\" id=\"step_7\">Step 7<\/div><div class=\"single-article__steps-content\"><h3 id=\"Review-the-transaction\">Review the transaction<\/h3><p>Once you&#8217;re done with the previous step, Wise will present you with a summary of the arranged transaction.<\/p>\n<p>\u00a0<\/p><\/div><div class=\"single-article__steps-counter\" id=\"step_8\">Step 8<\/div><div class=\"single-article__steps-content\"><h3 id=\"Confirm-and-pay\">Confirm and pay<\/h3><p>Choose the method by which you want to transfer the money to Wise, review the total fee information, confirm the details, and complete the process.<\/p><\/div><\/div>            <div class=\"single-article__conclusion\">\n                            <\/div>\n            <\/div>\n\n<div class=\"fn_block block_fn_button  buttons  is-flex is-flex-direction-column is-align-items-center\"><a href=\"https:\/\/financer.com\/company\/wise\/redirect\/\" class=\"button  is-rounded is-primary is-inverted is-outlined is-large is-arrow is-fullwidth\" target=\"_blank\"  rel=\"sponsored nofollow\">Visit Wise website<\/a><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"Wise_Ecosystem\">Wise Ecosystem<\/h2>\n\n\n\n<p>The Wise ecosystem offers a comprehensive suite of services designed to make international money management easier. <\/p>\n\n\n\n<p>Wise offers three main services:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ol class=\"check\"><li><p><strong>Sending and receiving money abroad <\/strong>and <strong>currency exchange <\/strong>at real rates with low and transparent fees.<\/p>\n<\/li><li><p><strong>Free Wise account<\/strong> where you can hold over 40 currencies.<\/p>\n<\/li><li><p><strong>Wise debit MasterCard<\/strong> to make payments worldwide.<\/p>\n<\/li><\/ol><\/div>\n\n\n<p>Each of these services can be used individually except for the debit card. <strong>To get it, you need to have a multi-currency Wise account.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"Wise_Card_Review\">Wise Card Review<\/h3>\n\n\n\n<p>Unfortunately, the company has temporarily paused issuing new Wise cards in the US. <\/p>\n\n\n\n<p>On their web, you&#8217;ll find this message:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large shortcode-no\"><img decoding=\"async\" width=\"1024\" height=\"466\" src=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2024\/07\/wise-card-review-1024x466.png\" alt=\"wise card review\" class=\"wp-image-80439\" srcset=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2024\/07\/wise-card-review-1024x466.png 1024w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2024\/07\/wise-card-review-300x137.png 300w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2024\/07\/wise-card-review-768x350.png 768w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2024\/07\/wise-card-review-1536x699.png 1536w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2024\/07\/wise-card-review.png 1856w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Wise Card Review: currently unavailable in the US<\/figcaption><\/figure>\n\n\n\n<p>It might be a bit misleading since cards were previously available in our country, so in our Wise card review we discuss their standard conditions. <\/p>\n\n\n\n<p>For starters, <strong>the Wise debit card is free<\/strong> and you only have to pay a fee of 9 USD for the delivery. <\/p>\n\n\n\n<p>Additionally, with the Wise card you get:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"check\"><li><p>40+ currencies supported.<\/p>\n<\/li><li><p>No ongoing account fees.<\/p>\n<\/li><li><p>2 free ATM withdrawals up to 100 USD each\/per month. After that, a fee of 1,50 USD applies. If the sum is more than 100 USD, then you&#8217;ll be also charged a 2% commission. <\/p>\n<\/li><li><p>Mid-market exchange rates.<\/p>\n<\/li><\/ul><\/div>\n\n\n<p>The card is valid anywhere MasterCard is accepted, and you pay in local currency no matter where you are in the world.<\/p>\n\n\n<div class=\"fn_block block_fn_msg_box boxed\"><div class=\"fn_block__icon\"><\/div><p><strong>Tip:<\/strong> Prefer a similar service but with a Visa card? Check out <a href=\"https:\/\/financer.com\/company\/revolut\/\">Revolut.<\/a><\/p><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"Advantages_and_Disadvantages_of_the_Wise_Account\">Advantages and Disadvantages of the Wise Account<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large shortcode-no\"><img decoding=\"async\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2023\/03\/predimstva-i-nedostatci-na-wise-1024x574.jpg\" alt=\"Wise transfer\" class=\"wp-image-40685\"><figcaption class=\"wp-element-caption\">Wise: advantages and disadvantages. Photo from wise.com<\/figcaption><\/figure>\n\n\n\n<p>After testing and using Wise, we formed a decent idea of the service. This Wise account review aims to provide a balanced view of its pros and cons.<\/p>\n\n\n\n<p>Let&#8217;s start with the advantages:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><li><p>Wise offers <strong>convenient international transfers<\/strong> at official exchange rates with <strong>minimal fees<\/strong><\/p>\n<\/li><li><p>The <strong>mobile app is foolproof and super easy to use.<\/strong><\/p>\n<\/li><li><p><strong>The transfers are fast<\/strong> &#8211; usually within 1 business day.<\/p>\n<\/li><li><p>Wise \/ TransferWise is a <strong>regulated financial company<\/strong> that ensures your money is safe<\/p>\n<\/li><\/ul><\/div>\n\n\n<p>Overall, Wise performs well in delivering what it promises &#8211; <strong>an alternative to standard bank transfers, security, and speed. <\/strong><\/p>\n\n\n\n<p>However, we found a few minor disadvantages that we cannot overlook:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"dislike\"><li><p>Occasional transfer delays.<\/p>\n<\/li><li><p>Money can only be transferred to a bank account.<\/p>\n<\/li><li><p>The Wise debit card is currently not available in the US. <\/p>\n<\/li><li><p>Low limits for free ATM withdrawals and hefty fees after that.<\/p>\n<\/li><li><p>Might charge higher transfer fees than some competitors.<\/p>\n<\/li><\/ul><\/div>\n\n<div class=\"fn_block block_fn_faq_list\"><h3 id=\"Wise_FAQs\">Wise FAQs<\/h3><h4>What is Wise?<\/h4><div class=\"faq_inner\"><p>Wise is the new name of the company formerly known as TransferWise. It provides international money transfer services that are much more affordable than those of traditional banks.<\/p><\/div><h4>Is Wise legit?<\/h4><div class=\"faq_inner\"><p>Yes, Wise is a legit company.<\/p>\n<p>Wise US Inc. is registered with the Financial Crimes Enforcement Network (FinCEN) and renews its registration annually and it is supervised by regulatory authorities in each state.<\/p><\/div><h4>Is Wise a bank?<\/h4><div class=\"faq_inner\"><p>No. Wise is a financial company, but it is not a bank.<\/p><\/div><h4>What are the benefits of Wise?<\/h4><div class=\"faq_inner\"><p>Wise services come with many advantages, including:<\/p>\n<ul>\n<li>The process of sending and receiving money is fast<\/li>\n<li>International transfer fees are lower than bank fees<\/li>\n<li>The exchange rate is one of the best in the market<\/li>\n<\/ul><\/div><h4>How can I open a Wise account?<\/h4><div class=\"faq_inner\"><p>In our dedicated Wise review, you will find details on how to register and make your first Wise transfer.<\/p><\/div><h4>How long does a Wise transfer take?<\/h4><div class=\"faq_inner\"><p>On the Wise website, you will find information about different timeframes. Officially, the transfer time ranges from a few hours to 1 business day, but our personal experience shows that sometimes it can even be 2 or 3 business days.<\/p><\/div><h4>Can I send money from abroad to the US with Wise?<\/h4><div class=\"faq_inner\"><p>Yes. If you live abroad and want to send money to the US, you can easily do so with Wise.<\/p>\n<p>The reverse is also true. You can send transfers with low fees from the US to abroad.<\/p><\/div><h4>Can I transfer money in the same currency?<\/h4><div class=\"faq_inner\"><p>The currencies with which this operation is possible are USD and EUR.<\/p><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"Revolut_vs_Wise\">Revolut vs Wise<\/h2>\n\n\n\n<p>When considering digital banking and money transfer services, it&#8217;s common to compare Revolut vs Wise. If your goal is only to exchange and send money, Revolut and Wise are quite comparable.<\/p>\n\n\n\n<p>However, in some other aspects, Revolut may be an interesting alternative.<\/p>\n\n\n\n<p>Let&#8217;s do a quick overview of the main similarities and differences:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-fn-tables shortcode-no\"><table><thead><tr><th><\/th><th>Revolut<\/th><th>Wise<\/th><\/tr><\/thead><tbody><tr><td><strong>Free account<\/strong><\/td><td>Yes<\/td><td>Yes<\/td><\/tr><tr><td><strong>Debit card<\/strong><\/td><td>Yes<\/td><td>Yes<\/td><\/tr><tr><td><strong>Free business account<\/strong><\/td><td>Yes<\/td><td>Yes<\/td><\/tr><tr><td><strong>Debit card delivery<\/strong><\/td><td>0 USD<\/td><td>9 USD<\/td><\/tr><tr><td><strong>Virtual cards<\/strong><\/td><td>Yes, up to 5 cards<\/td><td>Yes, up to 3 cards<\/td><\/tr><tr><td><strong>Card type<\/strong><\/td><td>MasterCard and Visa<\/td><td>MasterCard<\/td><\/tr><tr><td><strong>ATM withdrawals<\/strong><\/td><td>Depends on the subscription. The free plan includes 5 free withdrawals per month up to 200 USD with a 2% fee after that<\/td><td>2 free withdrawals up to 200 USD total per month, 1.50 USD fee after that. For sums bigger than 100 USD, 2% commission applies<\/td><\/tr><tr><td><strong>Free currency exchange<\/strong><\/td><td>Up to 1,000 USD\/month for Standard (10,000 USD for Premium and Unlimited for Metal)<\/td><td>No<\/td><\/tr><tr><td><strong>Currency exchange fee<\/strong><\/td><td>0.5-2% during weekends<\/td><td>0.35-3%<\/td><\/tr><tr><td><strong>Currencies you can exchange and hold<\/strong><\/td><td>25+<\/td><td>40+<\/td><\/tr><tr><td><strong>Access to investments in stocks, cryptocurrency, etc.<\/strong><\/td><td>Yes<\/td><td>No<\/td><\/tr><tr><td><strong>App<\/strong><\/td><td>Yes<\/td><td>Yes<\/td><\/tr><tr><td><strong>Apple Pay<\/strong><\/td><td>Yes<\/td><td>Yes<\/td><\/tr><tr><td><strong>Loans<\/strong><\/td><td>No<\/td><td>No<\/td><\/tr><tr><td><\/td><td><a href=\"https:\/\/financer.com\/company\/revolut\/\" data-type=\"link\" data-id=\"https:\/\/financer.com\/company\/revolut\/\">Learn more<\/a><\/td><td><a href=\"#top\" data-type=\"internal\" data-id=\"#top\">Learn more<\/a><\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Wise vs Revolut<\/figcaption><\/figure>\n\n\n\n<p>Though, Revolut is a more widely known and used app in Europe, it could definitely offer some intriguing perks to US users, too. <\/p>\n\n\n\n<p>The extra features it offers, such as travel insurance and higher exchange limits without fees, could be worth a more detailed inspection.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"WiseTransferWise_Reviews\">Wise\/TransferWise Reviews<\/h2>\n\n\n\n<p>When researching &#8220;Is Wise safe to send money?&#8221; or &#8220;Is Wise.com safe?&#8221;, it&#8217;s helpful to look at user reviews.<\/p>\n\n\n\n<p>No matter which website you check for Wise reviews, <strong>you will not have a hard time finding positive feedback.<\/strong><\/p>\n\n\n\n<p>On <a href=\"https:\/\/www.trustpilot.com\/review\/wise.com\">Trustpilot<\/a>, for example, a site specialized in collecting user reviews for various services, Wise currently has an excellent rating of 4.3 (out of 5) from over 227,610 votes.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full shortcode-no\"><img decoding=\"async\" width=\"722\" height=\"255\" src=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/wise-account-reviews.png\" alt=\"wise account reviews\" class=\"wp-image-80459\" srcset=\"https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/wise-account-reviews.png 722w, https:\/\/financer.global\/app\/uploads\/sites\/11\/2022\/01\/wise-account-reviews-300x106.png 300w\" sizes=\"(max-width: 722px) 100vw, 722px\" \/><figcaption class=\"wp-element-caption\">Source: TrustPilot<\/figcaption><\/figure>\n\n\n\n<p>Positive Wise\/TransferWise reviews highlight:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"like\"><li><p>Cheap fees<\/p>\n<\/li><li><p>Easy-to-use mobile app<\/p>\n<\/li><li><p>Reliable international transfers<\/p>\n<\/li><li><p>Convenience of the international debit card<\/p>\n<\/li><\/ul><\/div>\n\n\n<p>To keep impressions balanced, here\u2019s what negative comments share:<\/p>\n\n\n<div class=\"fn_block block_fn_pros_cons\"><ul class=\"dislike\"><li><p>Blocked business accounts<\/p>\n<\/li><li><p>Difficult access to customer service<\/p>\n<\/li><\/ul><\/div>\n\n\n<p><strong>\ud83d\udc49<\/strong> <strong>Tip:<\/strong> Use services like Wise as intended. Do not store large sums of money in them to avoid misunderstandings.<\/p>\n\n\n<div class=\"fn_block block_fn_msg_box key-takeaways\"><div class=\"fn_block__icon\"><\/div><p>Do you have experience with Wise?<\/p>\n<p>Feel free to leave your feedback in the comments section at the bottom of the page and help others make the right decision.<\/p><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"Conclusion_Is_Wise_Safe\">Conclusion: Is Wise Safe?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full shortcode-no\"><img decoding=\"async\" src=\"https:\/\/financer.com\/app\/uploads\/sites\/27\/2023\/03\/registracija-v-wise.jpg\" alt=\"Wise transfer\" class=\"wp-image-40723\"><figcaption class=\"wp-element-caption\">Photo from Wise.com<\/figcaption><\/figure>\n\n\n\n<p>After our comprehensive Wise review, we can confidently answer the question, &#8220;Is Wise safe to send money?&#8221; with &#8220;Yes, we do believe that Wise is safe for international money transfers.&#8221;<\/p>\n\n\n\n<p>This said, the service could come with higher fees and more limitations than some competitors. <\/p>\n\n\n\n<p>However, the app is easy to manage, transfers are fast and the institution is regulated.<\/p>\n\n\n<div class=\"fn_block block_fn_msg_box boxed\"><div class=\"fn_block__icon\"><\/div><p>If you use the platform as intended and for legitimate purposes, <strong>Wise is a solid choice for international transfers.<\/strong><\/p><\/div>\n\n\n<p>Understanding how Wise works is key to making the most of its services. <\/p>\n\n\n\n<p>The Wise account offers a multi-currency solution, while the Wise debit card (when available) provides convenient access to your funds worldwide. <\/p>\n\n\n\n<p>Wise fees are transparent and generally lower than traditional banks, making it an attractive option for international money management.<\/p>\n\n\n\n<p>We could talk for much longer, but actually, our best advice is: <strong>try it once and see for yourself.<\/strong><\/p>\n\n\n\n<p>Whether you&#8217;re looking to make a one-time transfer or set up a multi-currency account, <strong>Wise offers a secure and efficient solution for your international money needs.<\/strong><\/p>\n\n\n<div class=\"fn_block block_fn_button  buttons  is-flex is-flex-direction-column is-align-items-center\"><a href=\"https:\/\/financer.com\/company\/wise\/redirect\/\" class=\"button  is-rounded is-primary is-inverted is-outlined is-large is-arrow is-fullwidth\" target=\"_blank\"  rel=\"sponsored nofollow\">Visit Wise website<\/a><\/div>","protected":false},"author":11463,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","categories":[16],"company_type":[2],"overall_rating":"0.00000000","_links":{"self":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/company_single\/26564"}],"collection":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/company_single"}],"about":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/types\/company_single"}],"author":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/users\/11463"}],"replies":[{"embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/comments?post=26564"}],"version-history":[{"count":49,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/company_single\/26564\/revisions"}],"predecessor-version":[{"id":80498,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/company_single\/26564\/revisions\/80498"}],"wp:attachment":[{"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/media?parent=26564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/categories?post=26564"},{"taxonomy":"company_type","embeddable":true,"href":"https:\/\/financer.com\/wp-json\/wp\/v2\/company_type?post=26564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}