Features, Benefits and How it Works
Wise, formerly known as TransferWise, is a leading fintech company that has evolved into a neobank, primarily focused on providing international money transfers and multi-currency account services.
Initially founded in 2011, Wise was created to address the high fees and markups associated with traditional foreign exchange services. Today, it offers customers the ability to hold, convert, and manage funds in over 40 currencies through its multi-currency accounts, making it an ideal choice for individuals and businesses dealing with cross-border transactions.
Moreover, Wise is known for its transparent fee structure and fair exchange rates, offering real-time, mid-market rates without any hidden markups. Users can easily track the progress of their international transfers through its platform, and most transactions are completed within 1-2 business days. For those who need faster services, Wise also provides express transfer options for an additional fee.
In addition to individual banking, Wise also supports businesses with features like batch payments and integrations with accounting platforms such as QuickBooks and Xero. Its borderless account allows businesses to hold funds in different currencies and take advantage of its competitive foreign exchange services.
Likewise, Wise has gained a reputation for its user-friendly mobile app, efficient international transactions, and commitment to cost transparency, positioning itself as one of the most trusted names in cross-border financial services.
Go to Wise
Founded: 2011
Headquarters: London, UK
Users: +16 million
Countries available: 56
Account plans: multi-currency account (personal and business)
