How to Transfer to Wise

Transferring money through Wise, formerly known as TransferWise, has become one of the most efficient and affordable ways to send funds internationally. Whether you are a freelancer, a business owner, a student studying abroad, or someone sending money to family in another country, Wise offers competitive exchange rates and low fees. Understanding how to transfer to Wise properly ensures your money reaches its destination safely and on time. This guide will walk you through each step, helping you make the most of your international transfers with Wise.

Understanding Wise and Its Benefits

Wise is a financial technology company that specializes in low-cost international money transfers. The platform uses the real exchange rate (also known as the mid-market rate), meaning you get more for your money compared to traditional banks. Wise also prides itself on transparency, displaying all fees up front before you make the transaction.

Some key advantages of using Wise include:

• Lower fees compared to banks
• Transparent fee breakdown
• Fast processing times
• Access to multi-currency accounts
• Safe and regulated operations

Steps to Transfer Money Using Wise

To successfully transfer money to Wise, or send money using your Wise account, follow these detailed steps:

Step 1: Create a Wise Account

If you are new to Wise, you will need to create an account. This process is simple and only takes a few minutes. You’ll need to provide your full name, email address, and set a password. For security and compliance, Wise may also ask for verification documents such as a photo ID or proof of address.

Step 2: Log in to Your Wise Dashboard

Once your account is set up and verified, log in to your Wise account either through their website or mobile app. The user-friendly interface makes navigation simple, whether you’re on desktop or smartphone.

Step 3: Click on Send Money

On your Wise dashboard, click the Send Money or New Transfer option. This will start the process of setting up your transfer. Wise allows you to send money to individuals, businesses, or even your own international accounts.

Step 4: Enter Transfer Details

Next, you’ll be prompted to provide important transfer information, including:

• The amount you want to send in your currency
• The currency you want the recipient to receive
• Recipient’s name and bank account details (IBAN, SWIFT/BIC, account number depending on country)
• The reason for the transfer (optional but useful)

Wise will then show you the exact fees and estimated delivery time based on your selections.

Step 5: Choose How You Want to Pay

Wise offers multiple payment methods depending on your country:

• Bank transfer
• Debit card
• Credit card
• Apple Pay or Google Pay
• SOFORT, POLi, and other local payment options

Each method has different fees and speeds. Bank transfers often have lower fees, but cards and instant payments may be faster.

Step 6: Review and Confirm Transfer

Before submitting the transaction, carefully review all the information, including recipient details, exchange rate, and total cost. Once confirmed, click the Confirm or Send button to initiate the transfer.

Step 7: Complete Your Payment

Depending on your payment method, you may be redirected to your bank’s page or asked to enter card details. Once the payment is completed, Wise will begin processing your transfer.

Receiving Money into Your Wise Account

If you want to receive money via Wise, especially if you hold a Wise multi-currency account, here’s how you can receive funds directly:

Get Local Account Details

Wise provides local bank account details for several currencies including USD, EUR, GBP, AUD, and more. This allows others to send money to you as if they were making a local transfer.

Share the Details with the Sender

Provide the sender with the correct local account number, routing number (or sort code), and your Wise reference name. Make sure they input the information exactly as shown in your Wise dashboard to avoid delays.

Check for the Incoming Transfer

Once the sender makes the payment, the money will appear in your Wise balance. You can hold it in that currency or convert it to another using real-time exchange rates offered by Wise.

How Long Do Transfers Take?

The speed of a transfer depends on several factors:

• The currencies involved
• The payment method
• The time of day and day of the week
• Bank processing times on the recipient’s side

Many transfers with Wise are completed within minutes or same day. In some cases, it may take up to 2–3 working days.

Tracking Your Transfer

After confirming a transfer, you can track its progress in real time through your Wise account. Wise will notify you by email or push notification when the money reaches the recipient. This transparency is one of the features users appreciate most.

Common Issues and How to Avoid Them

Here are a few tips to ensure your transfer goes smoothly:

• Double-check all recipient information before confirming
• Verify your identity if prompted to avoid delays
• Check if there are any public holidays in the recipient’s country
• Use the same name on your Wise account as your bank account

Wise has an excellent help section and customer support team if you encounter problems.

Using Wise for Business Transfers

Wise is also popular among freelancers, remote workers, and companies who make or receive payments globally. The business account allows batch payments, invoicing, and integration with accounting software.

If you are transferring to Wise as a business, make sure you register a Wise Business account and complete the necessary verification. You can then send or receive payments in multiple currencies efficiently.

Tips for Saving Money on International Transfers

When sending money overseas, even small differences in exchange rates and fees can add up. Here’s how you can save when using Wise:

• Send larger amounts less frequently to reduce per-transfer fees
• Avoid credit cards if you want to minimize additional charges
• Always compare Wise’s rates to your local bank
• Use Wise’s rate alerts to get notified when the exchange rate is in your favor

Transferring money using Wise is not only simple but also cost-effective and fast. Whether you’re sending funds to friends and family, paying for international services, or receiving money from overseas, Wise offers a reliable solution that beats most traditional financial institutions. By following the steps outlined above and understanding the tools Wise provides, you can make every international transaction smooth, secure, and affordable. Always stay informed and review the details carefully to ensure your money reaches its destination without issues.