The meteoric rise of the internet and almost wholesale international uptake has brought with it many advantages and a lot of innovation. One recent trend is the movement of financial services into the online technology space, commonly referred to as Fintech. Transferring money to our family and friends, even if they are in a different continent, is now easier than ever. Most of us at some point in our lives need to transfer money to our friends or family, or a business, and of course, what can be easier than transferring money electronically.
There many options for such a service, establishing and rising, and one that is making waves is TransferWise. An added advantage is that people get money in their own currency. The money can be sent and received in real time, which means you can send the money to the other side of the world while the receiver is waiting for it.
TransferWise is an affordable international currency converter platform. You can send money to no less than 71 countries across 49 currencies. Most currencies offer a bank transfer from one bank to another. For some currencies, you’re able to pay with debit- and credit cards. For other currencies, Android- or Apple Pay is available via the iOS and Android apps. The recipient should, in most cases, get the money within 1 or 2 business days.
Lower-than-the-Banks Transfer Fees
When compared to the banks, they charge lower transfer fees. Banks might advertise their free- or low-cost transfers, but unbeknownst to customers, they generally add a hidden mark-up to the exchange rate. TransferWise tells you the fees up front and gives the real mid-market exchange rate, allowing for savings on actual transfers.
With a currency converter, you can convert the value of one currency into the relative values of other currencies. The currency converter stores the most recent market valuation of the world’s currencies, and you can compare the value of one currency against those of others.
A crucial aspect of this is having good customers services, and TransferWise purports to offer a great user experience with their sign-up process and also provide speedy transfers.
You can sign up by registering with TransferWise quickly through email, your Google- or Facebook account. Then you simply enter how much you want to send. As part of the authentication process, you’ll get an email with a security code and once this is verified by entering the security code and clicking the email link, your first transfer can be set up.
Do you think TransferWise is the right choice for you? It always pays to choose a service provider that operates in your country. TransferWise has offices all over the world, from the US, the UK, all across Europe, Asia and even Australia.
Read about Other People’s Experiences
There are many people who have used TransferWise who don’t share the glowing sentiments that the company shares about themselves. Also, when you do look at some review sites, you often find that many reviews are complimentary, even though people were dissatisfied with the services. BritainReviews is a site that collects both good and bad experiences of people who have used a service before and what they found. They put their experiences on the review site for all to see.
Maybe you should take a look before you use the company because just maybe you’ll want to use another company. We can be grateful for review sites like this because too often companies give a different write up about themselves to what customers actually experience.