Wise Review: Is It the Best Way to Transfer Money Internationally?
If you’ve ever needed to send money abroad and felt confused by hidden fees and poor exchange rates, you’re not alone. That’s exactly the problem Wise (formerly known as TransferWise) set out to solve. Today, Wise is one of the most trusted names in international payments, known for transparency, great rates, and an easy-to-use platform.
Quick Verdict
| Verdict Category | Wise Summary |
|---|---|
| Best For | Small to medium-sized international transfers and multi-currency account management. |
| Strengths | Transparent pricing, real mid-market rates, fast transfers, excellent online experience. |
| Weaknesses | No phone support; not ideal for very large transfers requiring personalized service. |
| Overall Rating | ⭐⭐⭐⭐½ (4.5/5) |
| Ideal User | Individuals, freelancers, travelers, small businesses handling global payments. |
But is Wise the right choice for your needs? Let’s dive in.
🌍 What Is Wise?
Wise is a global financial technology company that helps individuals and businesses send, spend, and manage money internationally. Its standout feature is simple but powerful: it uses the real mid-market exchange rate, with no hidden markups. Instead of building profits into the exchange rate like many banks and providers do, Wise charges a small, transparent fee that you can see upfront before you commit to a transfer.
Wise supports over 50 currencies and operates in more than 70 countries, making it a flexible choice whether you’re sending money to friends abroad, paying overseas suppliers, or managing international income.
💸 How Does Wise Save You Money?
The secret is in their pricing model. Wise always shows you the true mid-market rate — the same rate you’d find on Google or XE.com — and adds a small percentage-based fee depending on the currency pair and amount you’re sending.
Because they don’t mark up the exchange rate, Wise often ends up being much cheaper than traditional banks and even many other money transfer services, especially for small to medium-sized transfers.
⚡ Speed, Simplicity, and Convenience
Wise has built its reputation on being easy to use and fast. Setting up an account takes just a few minutes, and transfers are usually completed within a few hours or up to one day for major currencies.
The Wise mobile app and website are sleek and intuitive, making it easy to send money on the go, track your transfers, and manage your currencies from one place. It’s a fully online experience, with no need for phone calls or paperwork.
If you value speed, transparency, and minimal hassle, Wise is one of the best options out there.
🏦 Multi-Currency Account for Businesses and Freelancers
Beyond simple transfers, Wise also offers a multi-currency account — a huge advantage for businesses, freelancers, and frequent travelers.
With a Wise Account, you can hold and manage balances in over 50 currencies, pay invoices internationally, and even receive local bank account details (like a U.S. routing number or European IBAN) to get paid like a local in different regions.
This setup allows you to avoid unnecessary currency conversions and manage global finances easily — perfect if you sell internationally or work with overseas clients.
️ Is Wise Safe?
Yes — Wise is fully regulated in every country it operates in, including the U.K., U.S., Australia, Europe, and beyond. It holds customer funds in segregated accounts and uses industry-leading security practices to protect your money and personal information.
Millions of individuals and businesses trust Wise every year, and it consistently earns top ratings for customer satisfaction and reliability.
✨ Summary: Is Wise Right for You?
If you’re looking for an affordable, fast, and transparent way to send money internationally, Wise is an excellent choice. It’s ideal for personal transfers, freelancers, digital nomads, small businesses, and anyone managing money across borders.
Wise makes it simple: no hidden fees, no nasty surprises, just great exchange rates and a smooth online experience.
Whether you’re sending $100 to a friend or managing $10,000 in cross-border income, Wise helps you move your money smarter and faster — so you keep more of what’s yours.
| Feature | Details |
|---|---|
| Send and Receive Funds | Transfer money internationally with the real mid-market exchange rate. |
| Transparent Pricing | Small, upfront fees with no hidden markups on exchange rates. |
| Transfer Speed | Transfers often complete within a few hours to 1 business day. |
| Multi-Currency Account | Hold and manage 50+ currencies; receive local account details in major regions. |
| Ease of Use | Intuitive website and mobile app for quick, self-serve transfers. |
| Minimum Transfer | As low as $1 - very flexible for personal or business use. |
| Customer Support | Online help center, live chat, and email support — no phone support. |
| Regulation and Security | Licensed and regulated globally with strong security practices. |
Ready to see how much you could save?
Compare rates now at BestExchangeRates.com and find out if Wise is the right fit for your next transfer.
BER Articles that mention Wise:
OFX vs Wise: Which Money Transfer Service Is Best in 2025
Looking to transfer money internationally? We compare OFX and Wise side by side, covering costs, exchange rates, speed, and features to help you choose the best service for your needs in 2025. Which one is right for you depends largely on how much you’re sending, how often you transfer, and whether you value real-time convenience or personal account management.
Why Online Sellers Should Use an FX Specialist
If you’re selling online internationally, using an FX specialist can save you thousands. Better exchange rates, lower fees, and protection against currency swings can make a huge difference to your bottom line. Find out why smart online sellers are choosing FX specialists to manage their global payments — and how it could help you scale faster.
Further reading on Wise - Guides, Reviews & News from our research team.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.