![]() If you’re transferring money from your Wise account to another Wise account user, it’s free. Fees are typically 1-2% of the amount you send, depending on the currency, but Wise also offers discounts for frequent transfers or to students and charities. Wise charges a flat fee based on the amount you’re sending and the currency you’re sending it in. Wise has grown to become the largest international money transfer service in Europe, with more than 8 million customers worldwide. The Wise platform is available online, on iOS and Android, and there are Wise Borderless accounts available in over 40 different currencies. It provides an international money transfer service with low fees, great exchange rates and fast transfers. Wise (previously known as Transfer Wise) is a London-based financial technology company that was founded in January 2011. I wholeheartedly stand by their service, and perhaps after reading this Wise review, you will as well. If you click on one of the Wise links in this article and use their service, I will receive a referral fee. In this article, we will focus on the top two most popular money transfer services: Wise vs PayPal. So I delved into a dizzying flurry of calculations and comparisons to show you exactly how I save over $2,000/year on Wise vs PayPal by using the Wise Borderless Account ( click here for more info, and read on for my Wise review). I noticed they were down significantly over years prior, and it’s because I started using Wise (formerly called TransferWise). ![]() In doing my end-of-year finances and preparing to file my taxes, I had a hard look at my banking fees. ![]() ![]() These platforms make it easy to send money across the world quickly, securely, and at a fraction of the cost and each of these options has its own pros and cons. You can use your bank, services like Western Union or MoneyGram, or – even better – through online platforms like Wise or PayPal. When it comes to transferring money, there are a lot of options to choose from. ![]()
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