General Information & Regulation of Wise
TransferWise is an international money transfer provider based in London, UK, established in 2011, offering instant transfers in over 450 currencies, bank details for payments in 30 different countries, multi-currency direct debits, etc. TransferWise has changed its name to Wise in February 2021, in a move to expand its services beyond money transfers. Wise is currently regulated by the Australian Securities and Investments Commission (ASIC) and holds a full license under its authorization and license, Regulation No. 456295.
Interest Rates & Fees of Wise
Wise offers a money transfer fee calculator, for example, the cost of sending money from EUR to GBPconsists of a fixed fee of £0.20 plus 0.35% (variable fee), GBP to USD £0.67 fixed + 0.35% (variable fee), and GBP to CNY £0.77 fixed fee+ 1.07% (variable fee). For more details on the handling fee, please see the Wise website.
Payment Methods of Wise
Wise supports payment via bank transfer, SWIFT, iDEAL, Trustly, SOFORT, POLi, Boleto, and other payment methods. Details of the various payment methods are available on the Wise website.
Transfer speed of Wise
Each currency and country/region is different, and transfers can take up to 2 business days, and the speed at which the transfer arrives depends on how quickly the recipient's bank processes the user's funds. If the user wants to send money via pounds sterling, Wise offers different types of transfers, such as low-cost transfers or fast transfers, in which case the speed of transferring the user's funds depends on the type chosen.