Sending money from abroad: the best offers from money transfer operators

Money transfer operator Wise: an overview of how to send money from abroad

Wise is a money transfer operator that has been operating since 2011 (previously known as Transferwise) and during this time has managed to prove itself as extremely reliable. The activities of the Wise operator in Europe are regulated by the Financial Conduct Authority (FCA) in Great Britain, as well as by the Central Bank of Belgium in the EU. Wise keeps clients' money in financial institutions with minimal risk. For example, in Europe it is Barclays, and in the USA it is an account with the bank holding company Wells Fargo.

In addition to reliability and security, among the advantages of the money transfer operator Wise should be noted the promptness of the receipt of money, optimal exchange rates, low commission and global geography of coverage. The functionality of the Wise payment service has already been appreciated by many millions of clients.

Wise: questions and answers

How does the Wise money transfer service work?
How to send money through the Wise payment service?
How to send money to an IBAN account via Wise?
How much does it cost to send money by using Wise?
How long does a money transfer take?
How to track a Wise money transfer?

How does the Wise money transfer service work?

The Wise payment service provider offers instant international cashless money transfers on favorable terms, which explains its popularity among migrants, tourists, expats and freelancers. To use the services of the Wise money transfer operator, you need to choose "Go to WISE" by selecting the appropriate option on the Strumok.money comparison site of international money transfer operators.

A separate area of activity of the Wise company is the service of operations between business clients. The Wise also gives clients the opportunity to open a multi-currency IBAN account and get a debit payment card. For access to advanced functions, Wise recommends verification (data verification can take up to two days), but even without identification, you can instantly send money to Ukraine.

How to send money through Wise?

The Wise payment system transfers money from abroad in no time, for this you only need:

indicate your country of residence and destination;
enter the required amount and desired currency;
choose the addressee (yourself or a third party);
provide addressee data (name, details);
pay by SEPA bank transfer, from Wise's multi-currency IBAN, debit or credit card, Apple Pay, Google Pay or the SWIFT system.
If you need to send money as soon as possible, the most optimal way will be a transfer to a card. At the same time, Wise works with Visa, Mastercard and Maestro cards. Before sending money to the card, check and make sure that the specified details of the recipient are correct.

How to send money to an IBAN account via Wise?

The transfer procedure to an IBAN account is as simple as to an ordinary payment card: you need to know the recipient IBAN account number and the bank's SWIFT code (for remittances to Ukraine) and, of course, the name and surname of the account holder. As a rule, such money transfers to Ukraine take longer and may cost more due to commissions of intermediary banks.

How much does it cost to send money by using Wise?

Before making a money transfer from abroad to Ukraine, many customers have a reasonable question about fees for Wise services. The size of the commission for an international payment to Ukraine depends on the method of payment of the money transfer and on where the funds will go to the recipient - to the card or to the IBAN. Also, you should pay attention to the exchange rate that will be applied in case of conversion. At the same time, immediately before making a money transfer, you can find out the total cost of all fees both on the Strumok.money website and on the Wise payment service. We remind you that the Strumok service does not charge an additional fee for its services - we provide information for our customers free of charge.

How long does a money transfer take?

A money transfer is considered instant if it takes less than 20 seconds. Currently, 45% of Wise payments are instant. In most other cases, you just need to wait a few minutes or a day when making international transfers to IBAN outside EU. An approximate estimate of the time it will take for the funds to be credited to the recipient account, as well as the working hours of the Wise payment service, can be seen on the Strumok international money transfer comparison service.

How to track a Wise money transfer?

You can track the status of the money transfer in your account window on the Wise payment service website or in the Wise mobile application. Just log in to your Wise account, select the appropriate option and click on the current transaction to view the status of your international money transfer to Ukraine.