TransferWise – The Best Way To Send Money Abroad
TransferWise is a peer-to-peer international money transfer service offering quick, easy and low-cost transfers from one country to another. It uses the exact, mid-market exchange rates and never includes markup like other providers and banks do.
The service fee is very small in comparison to other money transfer providers and it is made clear at the point of transfer. TransferWise charges flat 0.5% fee per transaction on top of the mid-market exchange rate with minimum being €2. The company stands very strongly against the hidden fees practise of the banks, that they even launched the ‘Stop Hidden Fees’ campaign – a call for greater exchange rate transparency.
TransferWise website and mobile app are very easy to use. You can set up your account (using Facebook or Google account) and transfer money within minutes. Your transfer should be completed within 1-4 days depending on the currency.
Security of TransferWise is fully regulated by Financial Conduct Authority (highest calibre of regulation in industry) to protect its users from fraud and money laundering.