Wise, formerly known as TransferWise, is a global technology company that offers an array of financial services through its mobile banking platform. Wise is designed to make international banking and money transfers straightforward, cost-effective, and transparent. The platform allows users to hold and convert currencies in a multi-currency account, send money abroad at the real exchange rate, and spend globally with the Wise debit card.
The Wise mobile app provides a seamless user interface, enabling customers to manage their finances on the go. Users can track their expenditures, transfer money internationally with low fees, and receive notifications about their transactions. Moreover, Wise prides itself on its transparent fee structure, which often undercuts traditional banks, saving customers money when dealing with foreign currencies.
Wise serves not only individual customers but also caters to businesses with its Wise for Business account, offering features like batch payments and integration with accounting software. This makes it a favorite among freelancers, expats, small businesses, and anyone involved in frequent cross-border transactions.
24/7 availability- anytime, anywhere
No matter where you are, at home or abroad, you can access your Wise account via the app, check your account balance, control your savings, get customer support, make payments and even freeze your debit card if needed. In addition, get real-time notifications every time you make a transaction, so there won’t be any surprises at the end of the month. No need to make appointments, stand in line and lose working hours to manage your finances.
Get approved fast
Opening an account with Wise is simple, with no lengthy paperwork. Just download the app, prove your identity, top up your account and you’re ready to go. Wise doesn’t require a copy of your credit history to approve your account, meaning you can open an account and get approved in minutes.
Lower fees
Another main reason to use Wise is the low (or no!) fees. Wise has no physical branches, therefore they can offer lower fees than traditional banks – especially when it comes to ATM withdrawals, money exchange/transfer and payments abroad. For example, Wise offers zero fees on all transactions, including purchases made overseas!
Makes traveling easier
Wise = borderless banking. Low/no exchange rates and low/no ATM withdrawal fees worldwide make traveling a whole lot easier (and cheaper) than with traditional banks- especially in the eurozone. And for added safety, freeze or unfreeze your debit card while you travel, directly in the app.
Go paperless
One of the frustrating things about traditional banks is the amount of documents, contracts and letters that are sent to your mailbox. With Wise everything you need is in the app and all communications are sent to your app or your email. Gone are the days of rummaging through piles of paper around your house – and protecting the environment is the cherry on top.