Wise: TransferWise, a popular online platform that helps people send and receive money across borders at a low price with clear exchange rates, is now transferred to the name of Wise. This section will take you through the account creation, money transfers, funds acceptance and how the platform functions in general. 

Setting up your wise account  

Create an account:  

• Visit Wise’s website or Wise’s app. 
• Click on Sign Up.  
• Log in with your email and a password or register using Google or Facebook. 
• Select account type (Personal or Business). 

Verify your identity:  

• Name, Address, Date of Birth: Share your details. 
• Copy of ID (passport, driver’s licence, national ID card). 
• Wise might request proof of address or other documentation based on the country of residence. 

Log In:  

• Login to your account from the site or app. 
• Initiate a Transfer:  
• Click on Send Money.  
• Add the amount and specify the currency (USD to EUR, etc). 
• Choose the recipient type (personal or corporate) and details of the recipient (name, bank account number, IBAN, etc. ).  

Choose the payment method:  

• Wise allows you to pay through: 

1. Bank transfer (cheapest option).  
2. Pay with debit or credit card (more fast but higher fees). 
3. Pay using your Wise balance (if you have one). 

• Review and Confirm:  

1. Check the cost and timings. 
2. Send confirmation of transfer and pay the amount. 

• Track your transfer: Navigate to the Wise dashboard and see your transaction’s status in real-time. 

Ways to get paid with Care. 

• Provide your Wise Details:  
• Send the sender your Wise account info with local account info.
• If you have a Wise multi-currency account, you can also create local account details for multiple currencies. 

Track Incoming Payments:  

After the sender sends the payment, you’ll be able to see the payment in your Wise account. 

Wise will notify you when the money comes in. 

Withdraw Funds:  

Deposit money to your connected bank account or cash out using your Wise card (if you have one). 

Key features of Wise  

Multi-Currency account: Store and track 50+ currencies in one place.

Exchange currency from one to the other at mid-market rates. 

Wise Debit Card: You can pay in many currencies without extra charges. 

Withdraw cash from ATMs worldwide (caps). 

Transparent fees  

Wise shows you all fees and exchange rates upfront before you approve the transaction. 

Fast transfers

A good number of transfers happen in just a few hours, others it can take a day or two depending on how and where the money goes. 

Security

Wise is authorised by financial regulators in several jurisdictions and has state-of-the-art security to guard your data and funds. 

Tips for using Wise effectively  

Compare fees: Compare fees and exchange rates of different payment methods to decide the right one. 

Use the Wise app:  With the mobile application, you can send money, view balances, and view transactions wherever you are. 

Set up alerts: Enable notifications to receive real-time notifications of your transfers. 

Make use of local account information: Use local account details (provided by Wise) to bypass intermediary bank charges at pay stations. 

Frequently asked questions  

They include:

What’s the Wise transfer timeframe

Most transfers are made in 1-2 business days, and some happen in a few hours, depending on the currency and payment method. 

Can you only send/receive so much

Yes, Wise is subject to a certain cap based on where you live, which currencies are used, and how many verifications you have done. See your Wise dashboard to know what your limits are. 

Is Wise safe to use

That’s right, Wise is an authorized financial institution that encrypts and other security protocols to safeguard your money. 

Can you use Wise for business payments

Yeah, Wise also has business accounts with specific company-specific features, like bulk payments and integration with accounting software. 

Conclusion  

Wise, Transparent, fast and flexible international money transfer solution, that’s both affordable and effective. By following this tutorial you can safely monitor your transfers and get the most out of Wise’s functions.

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