USA PHL

₱ 48.11

USA MEX

Mex$ 19.76

FEATURES (Currently showing rates for to change )

Company Headquarter
London, UK
Company Type
Remittance Providers
Mobile App
Company Established
2011
Text Update (SMS)
Yes
Email Updates
Yes
Referral Program
Yes

EDITORIAL REVIEW

TransferWise is an online international money transfer company that allows people to send money abroad easier and at the lowest possible rate. Established in London and launched in 2011, TransferWise provides for its users a bank alternative, encouraging customers to outsmart their banks and save when sending money abroad. Using technology developed by the same people who created Skype, TransferWise has become one of the world’s leading remittance services.

While living and working in London, Estonian founders Taavet Hinrikus and Kristo Käärmann created TransferWise as a better way to exchange currencies. Today, TransferWise allows users to send money abroad to many countries worldwide, including the USA, Canada, most European countries, and some countries in Asia and Australia.

Much of its success relies on its easy-to-use online money transfer platform and fair exchange rate fees. Unlike banks, which can charge an upfront fee and up to 5% in hidden fees in the exchange rate, TransferWise customers only pay 0.9%. Founded on its commitment to bringing customers a bank alternative, TransferWise offers the mid-market exchange rate to the users, which makes it cheaper to send money abroad as compared to using a bank to transfer money abroad.

World-renowned leading investors such as Virgin CEO Sir Richard Branson and PayPal co-founder Peter Thiel have invested in TransferWise, contributing to the investment funding that the international money transfer service has received. It has received multiple awards as an innovative startup in the remittance industry.

Giving customers a platform where they can send money abroad at the lowest possible cost, TransferWise allows users to send money in their local currency using a debit card, just as they would a normal bank transfer.

FAQS

 

Q: Why does it take longer to send money with TransferWise?
The majority of transfers out of the US are completed within 1 business day. However, occasionally, a transfer with TransferWise may take longer than usual, because of the required verification process. Since Transferwise is regulated by the FCA (Financial Conduct Authority), TransferWise must verify people’s identities before proceeding to the actual transaction. FCA regulations are designed to protect customers and prevent illegal activity, such as money laundering or terrorist financing.

 

Q: Why does TransferWise perform the verification process?
TransferWise will ask for verification from all customers at one point during the transaction process. This is because the company is regulated by the FCA (Financial Conduct Authority) and HMRC (HM Revenue & Customs).

Q: What to consider while sending money with TransferWise?
There are three ways to send money from the US:

  • Direct debit (up to 5000USD)
  • Wire transfer
  • SWIFT (TW don't accept cash or cheques)

Customers can’t send money from Massachusetts, Vermont, Washington state, and customers need to verify their SSN numbers when paying from Arizona or Oklahoma.

Q: When is the transaction cancelled?
Transfer is cancelled if:

  • TW doesn’t receive money in two weeks
  • Customer is using someone else's account or card
  • The names don’t match on the bank account and the profile

USER REVIEWS

gdfhh asetstd
Posted on December 04, 2020, 03:28 am

. TransferWise ' _ H . E . A . D . Q . U . A . R T . E . R . S . _ + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' + + + + + H . E . A D . Q . U . A . R T . E . R . S . P . H . O N . E . . N U . M . B . E R . _ _ + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _ _ P . H . O . N . E . . N . U . M . B . E . R + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _ _ C . O . R . P . O . R . A . T . E . P . H . O . N . E . N . U . M . B . E . R . + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _ _ C . O . R . P . O . R A . T . E . N . U . M . B . E . R + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) This company froze my account with no reason behind it! I ve been waiting and no replies! If you are looking to have a class-action suit, I am open... TransferWise ' _ _ A . D . D . R . E . S . S + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _ _ . C U . S T . O . M . E . R . . S E . R . V . I . C . E + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _ _ . C . O . N . T . A . C . T . S . + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _ _ C . O . R . P . O . R . A T . E . + . 1 ' 8 ' , 3 , 3 7 ; 0 ; 4 ; O ; 4 " 9 - 6 TransferWise ' _ _ . C . O . . R . P O . R . A . T E . . A . D . D . R . E . S . S + 1 _ 8 . ( 3 ) ( . 3 ) _ 7 ' O ' O _ O ( 5 ) 7 . ( 1 ) TransferWise ' _

 
Zied Chaabane
Posted on December 03, 2020, 01:29 pm

This company froze my account with no reason behind it! I ve been waiting and no replies! If you are looking to have a class-action suit, I am open

 
Albert-Andrei Savin
Posted on November 07, 2020, 03:10 am

They block/deactivate your account and your funds for 60days. After those 60days, they ask for refund details and once you provided them, they ignore you completely. AVOID THIS COMPANY LIKE PLAGUE!

 
Mahlodi Delvie
Posted on October 18, 2020, 09:19 am

I need this transaction processing

 
Nureddin Milad
Posted on October 06, 2020, 11:39 pm

They started to block money for long periods recently. So, don't believe the day their system shows you in the beginning, once they have your money in, they would block it for checks "it will say 1-2 days check, but could take a week or weeks". Customer Service is useless

 
grant
Posted on October 06, 2020, 09:41 pm

recently had the misfortune to use this transferwise service they promised faithfully to send the full sum.. basically they lie, they lazy and used a very expensive intermediary to send my friend sent me 173$ .. i got 108.. 70$ in fess deducted i suggest use money gram as they more reliable and instant .. will never agree to send this way again permanent

 
Albert-Andrei Savin
Posted on September 02, 2020, 10:32 am

Stay away from this company, use Revolut instead. They blocked my account and would not give me a valid reason for closure of my account. "We’ve decided to keep your account closed. Unfortunately, we can’t tell you the specific reason why — it’s because of how we’re regulated." I would not rely or recommend this company to anyone. Thank you for understanding!

 
Laurent
Posted on August 29, 2020, 10:47 pm

Voilà un bel exemple de fintech : Sous des faux propos de "sécurité" et autres supercheries, ils vous gardent votre argent et le font fructifier. Vous vous dépenser des sommes d'avocats, pour simplement pouvoir récuperer vos propres fonds après 3 mois; aucune succursale réelle, une coquille vide, sans réel recours pour vous si ce n'est d'attendre. Que des "étudiants" payés à vous répondre à coté de la plaque, ou un système automatique de robots comme l'a suggéré l'avocat. Bref à fuir ou si vous aimez le risque et des ulcères, allez y ! Voici mon expérience avec eux, et je pense sincèrement que c'est la même chose avec les autres.... Méfiez vous et réfléchissez : pourquoi autant de "bons" avis sur le net? Simplement qu'ils innondent la toile de faux avis, de pub magique... Toujours le même scénario : 2 russes, ukrainiens ou autres ont une super idée, vous allez gagner de l'argent, ils ont des millions de clients, des milliardaires qui les suivent, bref le rêve... (comme les voyages en ligne où on part en hotel de luxe pour rien ;)). Ce système s'apparente à une pyramide de Ponzi, une cavalerie où ils se servent de l'argent des 1er pigeons pour faire tourner le reste, sauf que un jour, ça peut s'écrouler, et vous avec. A chacun de faire son expérience, moi il est vrai que face à leur com internet, je ne peux pas lutter, ces fintechs sont hyper productives pour inonder internet de faux avis et vous faire rêver, sauf que vous allez pleurer à la fin/ Bonne chance

 
Elmouden Khalid
Posted on August 21, 2020, 03:12 pm

his company deactivated my account for no reason. I submitted all required documents such as ID CARD, selfie with the ID CARD, and bank statement. Then, I transferred a total of $380 to my account , then all of a sudden, my account was deactivated. and this is the final decision

 
Zoe
Posted on July 30, 2020, 01:57 pm

This company deactivated my account for no reason. I submitted all required documents such as passport, selfie with the passport, and bank statement. Then, I transferred a total of $ 5,000.00 to my account , then all of a sudden, my account was deactivated. No one can tell me when my money will be returned. Please, whatever you do, DO NOT USE THIS COMPANY!

 
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