TransferWise Review - Is TransferWise a Good Alternative?

When you want to send money abroad, one of the easiest ways to do so is through a platform like TransferWise. Log on to their website, choose an amount you want to send, and choose the recipient. Then, choose the method of funding the transaction, such as a credit card, bank account, or regional options. Most methods come with no fees, although credit card payments will cost you between 0.3 and 1.5%.

The pros of using TransferWise outweigh its cons. It's affordable, convenient, and safe. Even if it takes a few days to verify your information, the service will still get your money to where it needs to be. And, because it's based in London, you can be sure you won't be charged for the service! And, since it's a London-based company, there are plenty of positive reviews online. The company has been featured in many big-name publications.

Despite its good reviews, TransferWise isn't a perfect choice for everyone. Its low margins are similar to other institutions, but the service does not provide a competitive price for all destinations. Larger transfers are best left to traditional FX institutions. But for small transfers, Wise is a great option. It has an extensive list of currency pairs and specializes in European corridors. It also offers a wide range of languages, which is nice for international remittances.

Whether you prefer to use their mobile app or browse through their web site, Wise has a user-friendly interface that's easy to use. The company has accumulated over 134,000 customer reviews on TrustPilot. More than 93% of the reviews were positive, while 5% were negative. The reviews also cited a few issues, such as delayed transfers, and accounts closed for unknown security reasons. Wise has received TUV certification in Germany.