![]() The only currencies that incur a small mark-up are the less commonly traded, exotic currencies of remote countries. In a bid to make money transfers more affordable, Wise provides total transparency when it comes to exchange rates and the company's pledge to match the mid-market rate is well documented across multiple channels.Īccording to our research, the Wise FX widget presents exchange rates identical to the live mid-market, as seen on XE, for all major currencies. In this section we will discuss how the company continues to live up to these expectations. Over the last decade Wise has maintained their promise to offer customers total transparency and the true mid-market rate, with zero hidden fees or unexpected costs. CEOs Kristo and Taavet have pledged to take on banking next, by building an alternative international infrastructure to suit individuals and businesses underserved and misunderstood by traditional brick-and-mortar banks. 10 years and 11 million customers later, it is now one of the leading international money transfer platforms in the world.ĭue to their exponential growth, Wise has been able to identify the requirements of a vast customer base, adapting to meet the diverse needs of users around the world. ![]() Since launching in 2011, the motive behind Wise has continuously evolved. Born out of real-life experiences and the frustration of being charged excessive transfer fees and undesirable exchange rates when sending money home to Estonia from the UK. About Wiseįounders Kristo Käärmann and Taavet Hinrikus originally concocted the Wise (formerly TransferWise) business model as a solution to the problems they were facing when transferring money overseas to manage their personal finances. ![]() Over the years this London-based enterprise has been evolving into what is now a multifaceted, global financial service that is committing to providing “the world’s most international account.” In this review, we will be dissecting the company's overseas transfer options, outlining the value, speed, reliability and reputation of Wise. In February 2021, the company formerly known as Transferwise announced a newly redefined brand, re-entering the financial services market as Wise. ![]()
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