Wise is a non-bank payment provider. This means your Wise account is an electronic money account. Your money is safeguarded and not covered by the Financial Services Compensation Scheme (FSCS), or another protection scheme that you would get with a bank account. You can't get an overdraft or loan.
Is TransferWise safe to use?
Yes it is. It is very safe to use to send and receive money from overseas. Wise (formerly known as TransferWise)is a money transfer service send and receive money from millions of customers worldwide. They offer close to the mid market exchange rate with a transparent fee structure.
Is TransferWise Safe 2020?
Wise product rating: 4.1 stars In a market known for its hidden fees, this helps it stand out from the rest. The fact that Wise doesn't mark up the exchange rate at all is also a plus.
How do I send a wire transfer to TransferWise?
- Find the wire transfer section on your bank's website.
- Double-check your online transfer limit.
- Enter the recipient's bank details.
- Enter the amount and choose the currency you want for the recipient bank.
- Pay the transfer processing fee.
Can I transfer money from Wise to my bank account?
You can send money from your account to a bank account whenever you like — we'll charge a fixed fee when you do this, and a conversion fee when you send to a different currency. And, you can spend the currencies in your account around the world with the Wise debit card.
How do I transfer money from balance Wise?
- Go to Home.
- Choose the balance that you'd like to send from — on web you'll see your balances on the left-hand side of the screen, on the app they're at the top of the screen.
- Click on Send.
- Enter the amount you want to send, choose a recipient and enter a reference.