Receiving payments from around the world with Wise

I teach English as a Second Language on the side. When dealing with international payments, I have found Wise has the best system.

Using Wise for international payments offers several advantages:

Cost Efficiency: Wise is known for its low fees and use of the mid-market exchange rate, which can save you money compared to traditional bank transfers that often include hidden fees and less favorable exchange rates. This means you typically end up paying less for sending money abroad.

Transparency: Wise provides upfront information about all fees involved in a transaction, so you can see exactly how much you are paying and what exchange rate you are getting. This transparency helps avoid surprises from hidden costs or intermediary bank fees that are common with bank transfers.

Speed: Wise often offers faster transfer times compared to banks, with a significant portion of transfers being instant or arriving within 24 hours. This can be crucial for urgent payments or for ensuring timely payroll for international employees.

User Experience: The platform is designed to be user-friendly, with an app and website that allow for easy account management, tracking of payments, and scheduling of future transfers. The process is significantly more straightforward than navigating international transfers through banks.

Multi-Currency Account: With Wise, you can hold, receive, and convert money in over 40 currencies, which is particularly useful if you frequently deal with multiple currencies. This feature can simplify managing finances for international businesses or individuals living abroad.

Security: Wise uses two-factor authentication and holds your money with established financial institutions, ensuring security and regulatory compliance across different regions.

No Need for Recipient’s Bank Details: In many cases, you can send money using just the recipient’s email address, making it more convenient, especially for one-off payments.

Global Reach: Wise supports sending money to more than 160 countries, which provides a broad network for international transactions.

Avoiding Bank Fees: Many banks charge high fees for international transfers, including for receiving payments. Using Wise can often bypass these fees, especially when receiving payments in multiple currencies.

In summary, Wise stands out for its cost-effectiveness, speed, transparency, and ease of use, making it a compelling choice for anyone looking to make international payments. However, the suitability can vary based on individual needs, such as the urgency of the transfer, the countries involved, and the amount being sent, so it’s wise to compare with other services if considering high-value or less common currency transfers.

Wise is currently offering up to $115 for three personal referrals or one business referral. Click any of the wise links for my referral.

Terms from Wise:

• You’ll get a reward for every business or 3 friends who sign up with your unique link. You can track their progress at any time.
• Your referrals get a free transfer of up to $600.
• Once all 3 friends make a payment of $300 or more, you earn $115.
• When a business you invited transacts $2,000 or more in another currency, you earn $115. To receive a reward they need to sign up and create a business account between 25th November 2024 and 15th of February 2025.
• ATM withdrawals, gambling, crypto, and some other payments don’t count.