Wise is a known name when it comes to quick, reliable, cheap international money transfer. There is no surprise that every month Wise has more than 8 million happy customers transferring around $5 Billion every month. Continue reading to assess and learn how to send money with TransferWise.

Making a Transaction (Stepwise Guide)

Wise believes that international money transfer should be fast, easy, fair, and low-cost. Here, is a quick stepwise guide to help you send money anywhere across the world using TransferWise services.

1. Register free online on its website or its mobile app. All it takes is your email id or Facebook or Google account to get started.
2. Enter the amount of money you want to send and accordingly the service will calculate and tell you the cheapest fees and quick transfer time right away.
3. Fill-in the receiver's bank account details where you want to send the money.
4. In the case of transferring large amounts or transacting in certain currencies, it will require you to verify your identity. For this, you have to provide a photograph of your ID proof like passport, driving license, or other proofs.
5. Make the payment through your bank or other approved channels like debit or credit card and initiate the transfer.
6. You can now track the transfer from your Transfer account and update the recipient accordingly.

Exchange Rates and Fees

Wise offers exceptional exchange rates at a fee that is cheaper than any traditional banks that usually have a big margin on the transfer fees. Whereas Transfer is known to offer you 8x times cheaper transfer fees and a fair and transparent exchange rate. They got zero markups on the rate of exchange, which means you will get an above-market rate of exchange. You can also sign up to get updates on the exchange rate or set a target so you can transact at the right when the rate is good.

Advantages of Using Wise for Sending Money Abroad

Wise is renowned as one of the leading money transfer operators to reach all over the world. The service offers many advantages, contributing to its unbeatable global reputation.

• True, mid-market exchange rate, and transparent, competitive fees.
• Quick and easy to set up and transact.
• Over 8 million customers recommend it.
• Wide coverage over 57 countries around the globe.
• Efficient customer support via call-center, live chat, and email.

This is one service that got no hidden costs, everything is transparent; making it a very reliable option for you.