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TransferWise

Regulated
Australia
,
Since 2011
Last Updated:
54/100
Overall Score

Trading Conditions

Min Deposit:
N/A
Max Leverage:
N/A
Account Types
Business

User Reviews

Total Reviews
This Month
Avg Rating

Funding Methods

7 methods

Bank Transfer (ACH)

bank transfer
3 days
Fee:
$2
Fee:
Free

Debit Card

debit card
Instant
Fee:
$2
Fee:
$2

Credit Card

credit card
Instant
Fee:
$18
Fee:
Free

Wire Transfer

wire transfer
2 days
Fee:
Free
Fee:
Free

Mobile Wallets

e wallet
Instant
Fee:
Free
Fee:
Free

Wise Debit Card

debit card
Instant
Fee:
Free
Fee:
$2

Bitcoin

crypto
hours
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 83%, 2: License 70%, 3: Software 0%, 4: Spread 0%, 5: Account Type 8%, 6: Symbol 0%
Regulation
83%Excellent
License
70%Good
Software
0%Poor
Spread
0%Poor
Account Type
8%Poor
Symbol
0%Poor

Company Information

Full Name:TransferWise Ltd
Founded:2011
Headquarters:Australia
Enterprise Offices:1offices

Customer Support

Phone:
+44 203 885 0828,
Live Chat:
business_hours
Response Time:
Languages:
English
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Broker Summary

Summary of the broker

TransferWise (Wise)

Global Financial Technology (Fintech) CompanySome features offered in Multi-Currency Accounts include the ability to keep money in over 40 different currencies and exchange them as needed, the ability to make electronic deposits for your local currency and also for USD, EUR, GBP, AUD and a few other major currencies around the world, and the ability to use debt or credit cards to pay for items purchased in multiple currencies without incurring large foreign exchange transaction fees.

Additionally, Wise offers business services such as mass-payouts of money, sending invoices to clients by email, and commercial payments.

Through our Owl web platform or mobile apps, we have made it easy and transparent to use Wise. We have provided fee estimates and estimates of how long it will take to send money, and we provide a variety of secure methods for verifying customer identities when sending money, so that our customers can quickly and easily manage their foreign exchange needs.

By continually providing customers with a new way of transferring money internationally, Wise has established itself as one of the most popular global fintech companies. Wise is now used by millions of people and processes billions of dollars in international money transfers each month. Overall, customers have rated Wise as having low fees, being easy to use for international payments, and having a transparent pricing model compared to traditional banks. However, as with most companies providing financial services, customer experience varies based on the individual needs of each person using the service and there are often complaints regarding the delays in processing or the amount of time it takes to receive customer support when you have an issue.

Overall, the benefits of using Wise to send money internationally include, but are not limited to, a transparent fee structure that provides mid-market exchange rates, Wise’s compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory requirements in many different countries around the world, and Wise has the capabilities of providing multi-currency accounts and debit cards. Wise is an excellent choice for both individuals and businesses that require frequent international money transfers.

Downsides to Wise include, but are not limited to, the fact that Wise is not a traditional online broker, meaning Wise does not offer a range of investment products such as CFDs (Contracts for Difference), Foreign Exchange (forex) trading, and leveraged trading of currencies. Choosing the correct payment method will also affect both the fees and the delivery time, depending on the country you are sending from. Also, some customers may experience delays in receiving their funds or may have to wait long to receive support from Wise.

In conclusion

TransferWise is an extremely successful global fintech company that has built its reputation as an expert in assisting consumers with transferring money internationally and providing multi-currency accounts. However, TransferWise does not operate as an online investment broker, so its primary focus is not on providing currency trading services. Nevertheless, TransferWise does have an extensive international network that provides customers with a variety of safe and secure payment options to send funds internationally.

Regulatory Licenses

Compliance & oversight

5 licenses
United Kingdom
FCATier 1
United Kingdom
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
Hong Kong
SFCTier 1
Hong Kong
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
Australia
ASICTier 1
Australia
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
United Arab Emirates
ADGMTier 2
United Arab Emirates
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
United States
FinCENTier 1
United States
License Details
Type:Financial Service
Status:Regulated
Validity
Effective:N/A
Expires:N/A
4
Tier 1
5
Countries
0
Offshore

Account Types

Trading account options

1 type
Business
Corporate
1
Total Types
1
Categories
ECN Available

Funding Methods

Deposit & withdrawal options

7 methods
Bank Transfer (ACH)
Bank Transfer3 min
Deposit
Fee:USD 1.5
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
Transfers may take up to 2 days to reach Wise depending on sender's bank; available where ACH transfers supported.
Debit Card
Debit CardInstant
Deposit
Fee:USD 1.5
Min:N/A
Max:N/A
Withdrawal
Fee:USD 1.5
Min:N/A
Max:N/A
Users may need to upload scanned front and back of debit card for verification; available where debit card payments supported.
Credit Card
Credit CardInstant
Deposit
Fee:USD 18.16
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
Credit card transfers incur higher fees; available where credit card payments supported.
Wire Transfer
Wire Transfer2 min
Deposit
Fee:Free
Min:N/A
Max:N/A
Withdrawal
Fee:Free
Min:N/A
Max:N/A
Users should be aware of potential fees from intermediary banks; available where wire transfers supported.
4
Free Deposit
7
Instant
1
Crypto

Live Spreads & Trading Costs

Compare real-time spreads on major currency pairs

Spreads are the core trading cost with TransferWise: the difference between the bid and ask price you pay on every trade. Tight, stable spreads on major pairs like EUR/USD, GBP/USD and USD/JPY mean lower costs for scalpers, day traders and long-term investors alike.

  • Live spread table for six major currency pairs, refreshed every few seconds
  • Excellent / competitive / high ratings so you can benchmark TransferWise at a glance
  • Bid, ask and pip-change data to estimate your real cost per trade
View live spreads for TransferWise

Spread data is indicative and for comparison purposes only

Global Domains

Worldwide web presence

0 sites

No Website Information

Website domains not available for this broker yet.

Social Presence

Digital community engagement

0 platform

No Social Media Presence

This broker doesn't have active social media accounts

Corporate Network

Enterprise structure & relationships

1 entities

WISE AUSTRALIA PTY LTD

Australia
active

Registration

616463855

Established

2018-06-29

Comments

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