Reviews of Transferwise Money Transfer Company

9.5 score based on 38210 reviews

Send Money To Rate
USD PHP ₱ 49.98
USD MXN $ 18.62
USD INR ₹ 64.83

Overview

TransferWise is an peer-to-peer money transfer service for sending money with the real exchange rate.From the customer's point of view, money transfers with TransferWise are not so different from conventional money transfers. Send money with Transferwise because-

  • Trusted all over the world
  • 5/5 star rating on TrustPilot
  • Get the real exchange rate
  • Next day delivery
  • Awesome customer support
  • Track your transfers using app

Pricing : How much does Transferwise cost?

TransferWise uses real mid market exchange rates to convert currency. The way it works is simple. Users send money to TransferWise, then TransferWise sends money to the user’s recipient in the converted currency. The money itself never actually crosses borders. TransferWise is not a bank; it’s a service to transfer money overseas.

It costs very little comparing to regular bank transfers. There is a quick review:

  1. Real mid-market rate without any extra commission
  2. Each payment will cost you just 0.5% of the amount you send
  3. Minimal fee is £2 or €2
  4. Low fee

The same principle applies to currencies other than GBP and EUR.

Transparency: Does Transferwise have any hidden fees?

TransferWise charges a small transparent fee which they tell you upfront before doing any transaction.

Instead of hidden fees of up to 5% charged by traditional services, TransferWise charges no variable fees, no exchange rate spreads. small transparent fee, amounting to 0.5% of the transferred amount – the equivalent of paying 50 cents for every $100 transferred. That’s it! No variable fees, no exchange rate spreads. Just an honest and transparent service.

Transfer Speed: How long does it take to send money through Transferwise?

As with most electronic foreign exchange services, the transfer process is not immediate. TransferWise advises its customers that most exchanges take anywhere from 1-4 days, depending on the currencies involved. The transfer of funds usually takes about 2-3 days, from start to finish.

  • Debit card / credit card payments reach immediately
  • Bank transfers take a maximum of 3 working days to reach, depending on the currency
  • SWIFT transfers usually take up to 4 working days to reach
  • SOFORT takes 1-2 banking days to reach
  • Bank debit (ACH) takes from 1 to 4 working days to reach
  • Wire transfer takes up to one working day to reach

Security : Is Transferwise Safe?

Is TransferWise safe? A very important question. You’ll be happy to hear the answer is yes. TransferWise has been operating successfully for over six years now, and has amassed a large and loyal customer base. Having a large customer base means they handle a lot of money, to ensure they can fulfill their orders. To ensure that they maintain a safe and efficient service, TransferWise maintains competency in a few key areas:

Regulatory oversight

TransferWise is registered with the UK Financial Conduct Authority (FCA). The FCA is a regulatory body who aims to make sure that financial markets are run with integrity so customers get a fair deal. This body is funded by the firms they approve, however they do report to UK treasury and parliament as an independent body. TransferWise and their partner companies are also registered in each jurisdiction of their company’s operations.

Customer funds held in trust

To maintain financial integrity TransferWise keep their customer’s money separate from their own operating accounts. By doing this, the funds used to run their business are independent of monies received by customers for trading between currencies, which are kept in special trust accounts.

Website security

Being 100% international based means that website security is a priority, especially when dealing with potentially large transactions. With TransferWise, there’s no need to worry, as all your personal information is protected using HTTPS security encryption – keeping your details safe from prying eyes.

Managing exchange rate risk

When you complete your transfer, TransferWise does everything it can to provide you with an accurate quote of the exchange rate. Because exchange rates are known to change at short notice, their system allows you to select your “tolerance” for currency movements. If the mid-market rate suddenly moves outside your tolerance level, the trade will be canceled, providing you with total flexibility and peace of mind.

Coverage: How many Countries & Currencies does Transferwise support?

Total number of countries supported by TransferWise: 55

AustraliaGreecePhilippines
AustriaHong KongPoland
BangladeshHungaryPortugal
BelgiumIndiaRomania
BrazilIndonesiaRussia
BulgariaIrelandSingapore
CanadaItalySlovakia
ChinaLatviaSlovenia
ColombiaLiechtensteinSouthKorea
CroatiaLithuaniaSpain
CyprusLuxembourgSri Lanka
Czech RepublicMalaysiaSweden
DenmarkMaltaSwitzerland
EstoniaMexicoThailand
FinlandMoroccoNetherlands
FranceNewZealandTurkey
GeorgiaNorwayUAE
GermanyPakistanUK
USA

Transferwise User Reviews and Ratings

reviews powered by trustpilot

Transferwise offers a very intuitive user experience on the website as well as the mobile apps. The overall process from registration, transfer and tracking is really seamless and easy to understand. A good UI & UX flow helps. A detailed FAQ section on the website answers most of the relevant questions. A chat & phone support is available for any other queries.

Based on the total reviews on Trust Pilot the rating is 8.8 or good. Most of the users appreciate the no nonsense approach to cheap and quick money transfer

Best way to transfer funds cross …

Review published ago

Best way to transfer funds cross border. Easy and fair price.

by Daniel Cecil Hemingway

Best way to transfer funds cross …

Review published ago

Best way to transfer funds cross border. Easy and fair price.

by Daniel Cecil Hemingway

Your transfers are awesome

Review published ago

Your transfers are awesome ! My daughter lives in Germany and we have constantly struggled with how to get $$$ to her! Not anymore thanks to transferwise!

by Ruth

Your transfers are awesome

Review published ago

Your transfers are awesome ! My daughter lives in Germany and we have constantly struggled with how to get $$$ to her! Not anymore thanks to transferwise!

by Ruth

excellent

Review published ago

as soon as all my transfers started to be "high speed" transfers i can say transferwise is the best and FASTER way for me to transfer money. i just do it and within minutes the money arrives safely. EXCELLENT

by paula

excellent

Review published ago

as soon as all my transfers started to be "high speed" transfers i can say transferwise is the best and FASTER way for me to transfer money. i just do it and within minutes the money arrives safely. EXCELLENT

by paula

Excellent

Review published ago

Excellent! This is a perfect start-up mentality. I hope they remain like it! If it grows, I hope fees could even be lowered :-)

by Matt

Excellent

Review published ago

Excellent! This is a perfect start-up mentality. I hope they remain like it! If it grows, I hope fees could even be lowered :-)

by Matt

Excellent service and great exchange …highly recommend

Review published ago

Excellent service and great exchange rates. Will certainly use again!

by Naj

Great service and saves you a packet in xfer fees!

Review published ago

Using this service is simplicity itself, and I saved over £30 to boot! The actual transfer to the US took a day longer than the estimated ETA - I can only put that down to the US bank's processing time? Just make sure the other party involved is trusted by you 'cos there's not much come-back if it all goes pear shaped!

by Darren Farmer

Buon servizio

Review published ago

Buon servizio, facile e veloce

by Gianni

Great service

Review published ago

Great service! And what a saving..

by Will

TransferWise ist einfach Super.

Review published ago

TransferWise ist einfach Super. Einfach und es bleibt viel Money übrig.

by Reiner

Money received safely and very quickly

Review published ago

Money received safely and very quickly, next day transfer. Good exchange rate. Free transfer if you use this link to register(without brackets): https://transferwise(.)com/u/floriann5

by Florian Neacsu

Good service.

Review published ago

If it had not been for my own banks robotic/auto computer anti fraud interference in the process then the use of transferwise would have proved the most straightforward , economic and effective of any other services I have used previously . My son recommended it and was right to do so. Would use it again. My understanding was that using a debit card was not subject to a charge whereas credit cards charge their additional % charge.

by Customer

Pratiquement aucun frais et plus rapide …

Review published ago

Pratiquement aucun frais et plus rapide que le système bancaire. Excellent.

by JR

Deux expériences très positives dans le …

Review published ago

Deux expériences très positives dans le cadre de transferts en Angleterre. Procédure facile et ludique et commission faible . Bravo

by Claude

works fine no problems

Review published ago

works fine no problems

by Stephen

Great way to transfer money to Italy!

Review published ago

Great way to transfer money to Italy!

by Joe

Quick and easy service with better …

Review published ago

Quick and easy service with better rates that my bank and several other services I have tried. Thanks!

by Lisa

Very easy to use

Review published ago

Very easy to use, highly competitive rates and quick receipt of the funds. Highly recommended

by Philip

Simply excellent, and simple

Review published ago

Everything worked really well - I saved so much on the exchange rate and the transfer was so much faster than using the banks!

by KJ

Total facility

Review published ago

Total facility

by cliente

Exclenent service

Review published ago

Exclenent service, no harm at all! Easy, simple, and trustfull !

by Customer
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Transferwise Transfer Process

  1. Provide your transfer details

  2. Money you wish to transfer

  3. Country you’re sending it to

  4. Who will receive the funds

  5. Your full name and address

  6. Your photo ID and your recipient’s full address

  7. Pay using your credit or debit card

  8. Send money with a bank account transfer to a bank account

  9. No cash or cheque

Once the process is completed, the funds are then deposited into your recipient’s bank account, and both you and your recipient are notified by email when your transfer is complete.

Transfer Type And Modes

Pay In Options

Bank

Pay Out Options

Bank

Service Mode

 Online

Exchange Rate Type

Fixed

Transferwise Company & Contact Info

Type:- Money Transfer Company
Established:- March 1, 2010
Address:- 2nd Floor 186-188
City Road London,
England EC1V 2NT
United Kingdom
Email:- [email protected]
Service Info:- 1-888-908-3833
Founders:- Kristo Kaarmann, Taavet Hinrikus
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