Reviews of Transferwise Money Transfer Company

9.5 score based on 38923 reviews

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USD PHP ₱ 50.37
USD MXN $ 18.06
USD INR ₹ 64.61

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

The best!!!

Review published ago

Easy, fast and cheap transfer!!!

by Ali

The best!!!

Review published ago

Easy, fast and cheap transfer!!!

by Ali

Really good and fast service!!!

Review published ago

Really good and fast service!!!

by Roberta

Really good and fast service!!!

Review published ago

Really good and fast service!!!

by Roberta

Highly recommend

Review published ago

Simple to use, really quick and cheapest method. My bank contacted me as a security precaution which was reassuring. Would def recommend and use again in the future.

by Rebecca

Highly recommend

Review published ago

Simple to use, really quick and cheapest method. My bank contacted me as a security precaution which was reassuring. Would def recommend and use again in the future.

by Rebecca

All good!

Review published ago

All good!! Prompt transfer. A+++

by Customer E.

All good!

Review published ago

All good!! Prompt transfer. A+++

by Customer E.

I'm very happy with the …

Review published ago

I'm very happy with the transferWise..always change the money the best price..and so fast.

by Viktor

Transazioni velocissime con tasso di …

Review published ago

Transazioni velocissime con tasso di cambio ufficiali

by gianfranco

Caddy

Review published ago

I transferred funds, used an incorrect routing number and expected a challenge to find and recover the money. Not so, I received an email from TranferWise customer service with a link so that I could correct the recipient account details. I corrected the details and the transfer was resent with no issues at all. Really impressed with the ease of use. I highly recommend TransferWise to anybody that regularly sends money overseas.

by Dwayne Cadwallader

Great service

Review published ago

Great service

by Linda

Neither fast or cheap

Review published ago

Amount sent kr1,148.97 SEK Converts to Tk10,000.00 BDT Exchange rate 9.25609 You deducted again 6 days later 30.90SEK. Total cost for transfer is 1148.97 + 30.90 SEK = 1179.87 SEK 1179.87 SEK - Fee 37.70 SEK = 1142.17 SEK 10000 BD / 1142.17 SEK = 8.755 BDT and not 9.26 BDT I sent this information to your customer service last week but until now I haven't received any reply. Maybe I will get one now :) //R

by Asheq

second transfer in a week

Review published ago

second transfer in a week - went great!

by anon

Quick

Review published ago

Quick, convenient transfer. Good rate

by Andre

Best way to transfer money

Review published ago

Best way to transfer money, I highly recommended

by Mohammadmehdi

Fast and comfort way to send money,.

Review published ago

Fast and comfort way to send money,.

by Juan

Excellent experience

Review published ago

Excellent experience. Money transferred very quickly. No fuss. Very cheap.

by Paul

Very fast and reliable!

Review published ago

Very fast and reliable!

by Magdalena

Excellent site de transfert d'argent

Review published ago

Transferwise est vraiment le meilleur site en terme de transfert d'argent/frais.

by Elise

Really fast

Review published ago

Really fast, reliable and cheap

by Teemu

Make transferring currency to Europe …

Review published ago

Make transferring currency to Europe simple, much easier than the banks

by Chris

Superb service with an excellent …

Review published ago

Superb service with an excellent exchange rate. The funds reached their destination exactly as promised.

by Customer

Everything was o.k.Thank you.

Review published ago

Everything was o.k.Thank you.

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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