A Simple Yet Detailed Guide to Sending Money with Wise

Wise, formerly known as TransferWise, is a popular online money transfer service known for its low fees and transparent exchange rates. This guide will provide you with a simple, step-by-step process to send money using Wise.

Creating a Wise Account:

To get started with Wise, you need to create an account. Follow these steps:

  1. Visit the Wise website (www.wise.com) or download the Wise mobile app (available for iOS and Android).
  2. Click “Register” or “Get Started.”
  3. Sign up using your email address, Google account, Apple ID, or Facebook account.
  4. Create a strong password and provide your personal information (name, date of birth, address, and phone number).
  5. Accept the terms of use and privacy policy.
  6. Click “Sign Up” or “Create Account.”

Verifying Your Identity:

Wise may require you to verify your identity to comply with regulations and ensure the security of your account. This process may involve submitting a photo of your government-issued ID, proof of address, or a selfie.

Initiating a Money Transfer:

To start a money transfer, follow these steps:

  1. Log in to your Wise account.
  2. Select “Send Money” or “New Transfer.”
  3. Choose the currency you want to send and enter the amount.
  4. Click “Continue.”

Adding a Recipient:

To add a recipient, follow these steps:

  1. In the transfer flow, select “Someone Else” or “Myself” (if sending to your own account in another country).
  2. Enter the recipient’s personal information (name, address, and phone number).
  3. Provide the recipient’s bank account details (account number, routing number, IBAN, etc., depending on the destination country).
  4. Click “Continue” or “Save Recipient.”

Funding Your Transfer:

To fund your transfer, follow these steps:

  1. Choose a payment method (bank transfer, debit card, or credit card).
  2. Provide the required payment information.
  3. Review the transfer details, including fees and exchange rate.
  4. Click “Confirm and Pay” to initiate the transfer.

Tracking Your Transfer:

To track your money transfer, follow these steps:

  1. Log in to your Wise account.
  2. Go to “Activity” or “Transfers.”
  3. Locate the transaction you want to track.
  4. View the transaction status (e.g., pending, in progress, completed).

Fees and Exchange Rates:

Wise charges a small fee for money transfers, which varies depending on the destination country, amount, and payment method. Wise uses the mid-market exchange rate, ensuring transparency and cost-effectiveness. You can view the fees and exchange rate during the transfer process. Always review these details before confirming a transaction.

Troubleshooting and Support:

If you encounter issues or have questions, you can contact Wise’s customer support via email or chat. Visit the “Help” or “Support” section of the Wise website or app to find contact information, guides, and answers to frequently asked questions.