International Money Transfer | Send Money Abroad with Wise (ex-TransferWise) (2024)

FAQs

Can you send money internationally with Wise? ›

With a Wise Business account, you can send and receive international transfers at the mid-market rate. Wise Business is here to solve your international business needs.

Every cent of the $11 billion we move each month is protected. We use HTTPS encryption and 2-step verification to make sure your transactions are secure. Plus our customer service is here to help. We've got dedicated fraud and security teams if you ever need them.

We'll always charge a conversion fee if you send money to a different currency. To check how much the fee is, use our pricing page. Just type in the amount you want to send, and choose the currency you're sending from and to. We'll show you the exact fee you'll need to pay.

If you earned 10 or more USD in the 2023 calendar year across your interest-earning balances we'll provide you with a 1099-INT to comply with standard IRS tax procedures. To download your 1099: Select your profile icon (top left in the app or top right on the website) Select Statements and Reports.

This means you can send to family and friends — and anyone whose number you have — without faffing about for their bank details. Just sync your contacts to Wise, then send money straight from the app. Choose from 50+ currencies, and the money'll arrive in seconds.

Like your bank, Wise is a regulated financial institution. To comply with local regulations (the USA Patriot Act) and our banking partner agreements, we need to verify the identity of any of our customers who want to order a debit card in the US.

Why would Wise be considered a foreign bank account? Well, aside from the fact that you're holding multiple currencies, it also has a lot to do with regulations. Wise is not a US company; in fact, it originates from the UK, with its headquarters in London.

Generally, if you request a transfer before your bank's cut off date, an international wire transfer typically should arrive within 1-5 business days. In some cases, receiving an international wire transfer can take longer, but more on that later.

What is the monthly limit for Wise? ›

You can add, receive, or send up to 490,000 PHP (or equivalent in any currency), per transfer to and/or from your Wise account. There's no limit on how much you can hold in your Wise account.

For most people, there are no limits on how much you can receive and hold right now.

Bank Transfer

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.

Help whoever sends you money avoid fees. Just share your Wise Account details with them for the currency they're sending. You'll get the money faster — and avoid hidden fees.

You can use your Wise card for regular and contactless payments, and cash withdrawals, anywhere the network is supported - in over 150 countries. Using your Wise card is very similar to using a bank card - just tap to pay, or insert your card into the point of sale terminal or ATM, and enter your PIN.

Bank Transfer

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.