Sending money across the globe, from one country to another has never been this easy thanks to dozens of online international payment systems and companies , most of which sprung up in the early 2000 or late nineties.
Transferwise which was established in 2011 in the heart of UK, London is arguably one of the newest yet fastest growing online transfer companies in the financial sector, supporting more that 700 currency routes across the world with a staff population of more 1900 as of 2020.
Currently, Australia is one of the company’s largest markets, with thousands of people from the Island nation Transferwise to perform their online transactions.
Why is Transferwise popular with Australians?
Well no one can tell the exact reason but most customers claim Transferwise’ interface is relatively simple and requires very few steps to transfer money when compared with other online money transfer service providers in the financial market.
How do I send money using Transferwise
The process as already stated is quite simple and devoid of complexity. You only have to follow a few steps to transfer funds across the globe. Here is how to do so
- Register an account for free; You just need an active email address or a facebook account to do so.
- After creating the account and successfully logging in, choose the amount you wish to send
- Add the bank details of the recipient (be sure to add the right details of the recipient to prevent delays)
- Verify your Identity using any national ID Card you have. This may not be asked of all customers as it depends on the amount you are sending. For those sending large amount, verification of your identity is a must
- Now pay for the transfer by adding details of the funding source. This could be your credit card or bank account number.
- Transferwise will deduct the amount from your bank account or credit card and send it to the recipient in no time.
What are the charges of Transferwise?
Transferwise has some of the cheapest transfer charges in the market. You can visit their official site to find out more on their latest transfer charges
Transferwise has a special master card for customers. Holders of the card can make purchases anywhere in the world as long as they have enough funds on their cards. The card comes with absolutely free transaction fees meaning you are not charged by Transferwise when you use your card to make purchases. More exciting, the card can be used to make withdrawals at ATMs around the world.
Transferwise has now officially rebranded and is simply known as Wise.