Wise

Join over 10 million people and businesses, in more than 170 countries, who use Wise to send, spend, convert, and receive money internationally.

Wise is for anyone — travellers, immigrants, freelancers, organisations — whose money crosses borders. We’re 8x cheaper on average than leading UK banks. And a lot faster, too.

— Cheaper and faster money transfers —

• Send money to over 80 countries

• For a super-low fee, you get the real exchange rate, like on Google, for every money transfer

• 50% of transfers are instant or arrive within an hour

• Secure your transfers with two-factor authentication

Wise: International Money Management Made Simple

Wise (formerly known as TransferWise) is a comprehensive financial app designed to make money management across different currencies and countries as smooth and cost-effective as possible.

Brief:

Wise offers a multitude of money-related services such as a multi-currency spending debit card, the ability to hold and convert over 50 currencies, and the convenience of owning local bank account details in various parts of the world—all on one platform. With a focus on offering real exchange rates and low fees, Wise positions itself as a practical solution to individuals and businesses who frequently deal with overseas transactions.

Core Features:

• ? Multi-currency Spending: Use the Wise debit card to spend or withdraw money in over 200 countries.
• ? Instant Currency Conversion: Hold and convert money between 50+ currencies at the real exchange rate.
• ? Local Bank Accounts: Get personal UK, Eurozone, US, and other countries' account details for receiving money.
• ? Real-Time Notifications: Stay informed with instant push notifications for every transaction.
• ?️ Business Integration: Easily pay invoices and connect to platforms like Amazon, Stripe, and Xero.

Pros:

• ? No Hidden Fees: Spend internationally with the lowest possible conversion fees.
• ? Safe and Secure: Regulated by the FCA in the UK and equivalent authorities worldwide.
• ? Fast Transactions: Receive payments like a local and pay bills swiftly.
• ? Support for Multiple Currencies: Send from and to a vast range of global currencies.

Cons:

• ? Service Availability: Services may vary by country, which might limit usage in some regions.
• ? Potential Extra Costs: Although no maintenance fee, some conversions and transactions might incur a fee.
• ? Compliance Procedures: Regulatory compliance might lead to slower setup or transactions for new users.
• ? Exchange Rate Fluctuations: Real-time conversion rates could lead to variable costs.

Price:

• ? Wise app itself is free to download. Services within the app may have associated costs according to the transactions and currency conversions, but these fees are transparently presented to the user.

Taking international finance management to the palm of your hand, Wise facilitates a world without borders for your money. Whether you're a frequent traveler, an expatriate, or running a global business, Wise could be your financial swiss army knife for handling diverse currency needs with ease and trust.