Pros and Cons
- No Dedicated Dealer Guidance
- No Discounts For High Volumes
- No FX Options Offered
- Does Not Handle Cheques
Top Transferwise AlternativesAlthough Transferwise is a groundbreaking currency transfer company, we have several companies with higher rating overall, apt for larger sum transfers.
- Min Transfer: £/€/$ 100
- Currencies Supported: 39
- Offices : UK, EU, USA, India, South Africa.
- Our Rating : 97.8%
- Most Global Offices and Reach
No Fees from Anywhere
96% Client Satisfaction
- Min Transfer: £/€ 1,000
- Currencies Supported: 121
- Our Rating : 95.4%
- Easiest Sign Up Process
Great Online Sellers Offering
Transparent Exchange Rates
- Min Transfer: £/€/$ 100
- Currencies Supported: 40
- Offices : UK and Australia + Bank Accounts Deployed Globally
- Our Rating : 93.4%
- Friendly, Professional Service
Corporate FX Expertise
Superb Rates, No Fees
More Transferwise Review Information
Is TransferWise Reliable?
Index Ventures (VC), IA Ventures (VC), The Accelerator Group (VC), Kima Ventures (BV), Seedcamp (VC), Max Levchin
|Series A …||$6,000,000|
SV Angel (VC), Valar Ventures (VC), Peter Thiel
|Series B …||$25,000,000|
Valar Ventures (VC), Peter Thiel, Richard Branson, Index Ventures (VC), IA Ventures (VC)
|Series C …||$58,000,000|
Anderson Horowitz (VC), Index Ventures (VC), IA Ventures (VC), Seedcamp (VC), Valar Ventures (VC)
|Series D …||$26,000,000|
Anderson Horowitz (VC), Valar Ventures (VC), Baillie Gifford (PLC Company)
|Series E …||$280,000,000|
Andreessen Horowitz and Mitsui & Co.
|Total to date …||$396,368,400|
Anderson Horowitz (VC), Index Ventures (VC), IA Ventures (VC), Seedcamp (VC), Valar Ventures (VC), Peter Thiel, Richard Branson, The Accelerator Group (VC), Kima Ventures (BV), Seedcamp (VC), Max Levchin, Mitsui & Co.
Is Transferwise safe?There is absolutely nothing to be concerned about when you use Transferwise to move money abroad. It has a sound financial structure, a solid business model, and it is the absolute epitome of client transparency. The company is now available in more than 71 countries and is on track to move £36bn this year alone, with thousands of clients from around the globe with an extremely high level of satisfaction. Transferwise is not a scam, although some people tend to think it is because of the ultra-friendly rates, while in fact, it is one of the most credible companies in this industry.More recently you may have spotted TransferWise has opened an office in Belgium. The firm took the pro-active decision to gain a European license in Belgium so even in the event of a no-deal Brexit, where UK financial services firms lose their ‘EU passporting’ rights, they can continue to offer the same great service they do today.
Do Clients Like TransferWise? TransferWise Reviews from Across The Web
Transferwise’s Exchange Rate & Fees - New for March 2019
Is it possible to beat Transferwise’s rates with popular currencies like Euro, USD, AUD?The fact that Transferwise is transparent and straightforward is generally very positive, but it is the company’s disadvantage when it comes to high volume transfers. Due to the fact that other companies like Currencies Direct have flexible pricing models, if the transfer is over GBP 25,000 (or equivalent in another currency), it is likely that they could offer cheaper rates than Transferwise. However. it’s always recommended to use Transferwise as a benchmark before you approach other recommended companies and negotiate your price.Also, newcomer< a href=”http://moneytransfercomparison.com.com/lebara-money-transfers/”> Lebara Money Transfer has been beating Transferwise on the GBPEUR route for remittances – have a look at our review of Lebara Money Transfer.Transferwise First Trade FreeTransferwise offers new clients the chance to conduct their first trade for free up to a certain cap (the purpose of this is to check how the system works rather than moving tens of thousands abroad without paying a dime).
Booking a Trade? Pay Attention to the Exchange Rate LockTransferwise does offer a guaranteed rate for all of its transfers and will guarantee a clients rate for 24 hours for every currency except: AUD, BGN, BRL, CAD, CHF, EUR, HKD, HRK, JPY, RON, and SGD, where the rate is guaranteed for 48 hours. And as long as TransferWise receives your money within that period, you’ll get the guaranteed rate.Sometimes, however, it’s important for the recipient of a transfer to know exactly how much money they will receive even if you pay after the expiry of the guaranteed rate.In order to secure the rate you see you’ll have to ensure the amount lock icon is displayed on TransferWise’s online platform and pay a 3% deposit of the total value of the transfer. If you don’t the rate will be determined by the time the money arrives to Transferwise, and not when the transfer was initiated. That means that due to fluctuations (and Transferwise is not even benefiting in this situation either) you could l possibly pay up to 3% of the transfer, instead of the fixed 0.5% margin applied. Worse than that, payments could end up lower than the agreed sum, which will require a second transfer or cause a payment to be void.On the flipside, if the rate improves during this time, TransferWise will refund the 3% deposit and possibly even more depending on how much the rate has changed.
Global Reach & Service
- Transferwise is now supporting the USD / MXN Corridor
- Transferwise is now accepting Canadian clients
- Transferwise has a new office in Australia (Sydney)
- Transferwise has a new office in Brussels (Belgium)
- Transferwise has a new pricing model
|Europe||Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey and the UK|
|America||All US states except Hawaii and Nevada, Brazil, Canada|
|Australia and Oceania||Australia, New Zealand|
|Asia||Hong Kong, Japan, Malaysia, Singapore, UAE|
|Africa||Morocco, South Africa|