TransferWise is an innovative international money transfer provider that is often dubbed the “Robin Hood” of the money transfer industry. They focus on making bank transfers more affordable than traditional banks by charging low and transparent transfer fees and converting money at the true mid-market exchange rate. In other words, there’s zero markup on the exchange rate. (As a comparison, banks usually give customers an above-market rate, the margin is part of their fees and in general they are not transparent about this.) TransferWise currently supports sending money to 71 countries and sending money from 43 countries. The company covers 1000+ routes (country combinations) across 49 currencies, and they are also one of the few companies offering the true mid-market rate.
Most currencies supported by TransferWise offer one option: a bank transfer from one bank to another. For some currencies, you can pay with debit and credit cards or use a SOFORT transfer option. Apple Pay or Android Pay is also available for certain currencies via the TransferWise iOS and Android apps. In most cases, the recipient will get the money within one to two business days.
TransferWise is a top choice for international money transfers. They are known for their great customer service, have excellent reviews on Trustpilot and provide speedy transfers. And the cherry on the cake? They also provide a spectacular user experience, from an easy sign-up process to efficient transfers, as evidenced in our in-depth UX analysis of what first time users think of TransferWise. Some users were so impressed they thought it is too good to be true. Yes, it’s good, but it’s also true! They’ve seen massive growth since 2011 and are an extremely competitive, high-profile disruptor of the traditional money transfer model. TransferWise is frequently referred to as a no-nonsense company that is sparking a revolution.