From Transferwise to Wise.
The FinTech giant, Transferwise, has recently rebranded to Wise in February 2021, to reflect its expanded product offering beyond just international money transfers.
It has a new and fresh look, but maintains the same service focus: helping people manage their money across boarders more cheaply, quickly, and transparently.
“Our customers now need us for more than money transfers,” explains Kristo Käärmann, co-founder and CEO. “Sending, spending, and receiving money internationally is too expensive, slow, and inconvenient. We’re fixing that for people and businesses.” With this spirit, they have decided to go for this transition with a clear separation from its past identity.
Wise is a London based financial technology (FinTech) company launched in 2011 by Estonians Kristo Käärmann and Taavet Hinrikus, with the vision of making international money transfers cheap, fair, and simple. Today, their multi-currency accounts help over 10 million individuals and businesses manage their money across the world. Here’s how they got there.
- Price – using Wise for international transactions is up to 8 times cheaper than using a traditional bank. Wise always uses the mid-market exchange rate and charges low, upfront fees.
- Safety – Wise is regulated just like any bank by financial authorities in any country where they operate – like in USA for example.
- Speed – over 30% of transfers with Wise arrive instantly. 53% of all transfers arrive within an hour and 81% of all transfers within a day.
- Coverage of currencies and countries – Wise allows customers to hold, spend and send money in over 50 different currencies. Yes, 50!
With Wise, the more money you transfer the more money you save. You have a great opportunity to capitalize on this high volume.
Wise can be used by anyone, from digital nomads and freelancers to financial investors and companies.
If you are being paid in different currencies from clients all of over the world, then Wise has made their multi-currency account for you!
It is simple. You get local banking details in countries like the US, Australia, Europe, and then receive those currencies like a local.
Wise saves you money by taking a small percentage of the transaction, rather than having you pay a credit card transaction fee or a large bank transfer fee.
Wise is the best tool for sending and receiving money internationally with low fees.