Transferwise Was launched in 2011 with preception of making international money transfersand now it has changed the name from transferwise to Wise.
Sending money internationally wise.com is better than the other traditional ways of sending money it has no waiting , no stress and no extra cost.
There are some important points to keep in mind about the money transfer companies:
1. company should have a real exchange rates and lo costs.
2. It should not have complex procedures for sending money abroad.
3. Your money should be e in safe hands and the process watertight.
4. The process of sending money should be fast.
How to send money with Wise from India ?
1. First of all Sign up with Wise.
Enter your email address, and a strong password (for protection). You can also sign up by other methods such as Google or Facebook account.
2. Choose the amount you want to send.
You can choose the amount you want to send according to your convenience. Wise will tell you how much you need to send , so that recipient gets an exact amount .
3. Let us know what kind of transfer you’re making.
If you’re paying from a personal bank account, it’s a Personal transfer .
4. Fill in your details.
Enter all your personal details correctly .Don’t worry your details are safe with wise.com
5. Enter the recepients details
To know wise.com whom you are sending money to?
You can add recepient’s bank account details, if you wish to.. Otherwise wise.com will handle.
6. Review the details .
Review your transfer details , so that transfer goes successful . Make sure everything looks right.
7. Choose the method of transfering money according to your convenience.
You can compare the fees and arrival time for each method of transferring money . It’s often cheapest to pay from your bank account .
8. That’s it!
You can keep track on the money. Wise.com will notify sender and receiver at step.
Pros and cons of using Wise
· Money transfer services are very easy to use.
· Completely open and transparent about how much they charge, so there are no surprises.
· Transfer fees are really (really) low, especially if you’re sending smaller amounts overseas.
· They use the mid-market rate, so you get to the best exchange rate.
· Access to the multi-currency account and Mastercard debit card.
· Provide services to both individuals and businesses.
· Loved by their customers.
· You can only pay by bank transfer, debit card , or credit card — you can’t fund your transfer with cash or a cheque.
· Wise doesn’t support all currencies or provide transfers into all countries.
· You can only send money to someone else’s bank account, which is a challenge if the recipient doesn’t have access to one.
· Recipients can’t get their money as a cash pickup, have it delivered, or have it transferred to a mobile wallet.
· For larger amounts of money (more than $10,000), a specialist foreign exchange provider might be a little cheaper.