What is Wise? Your Complete Guide 2025

Savings on this transfer, and eligible transfers for the rest of the month. I am the creator of Project Financially Free and I started this journey to both educate myself and share my insights on personal finance. I’m passionate about financial literacy and I invite you to join me on this transformative path. You can use the Wise App to manage your balance while you spend, and if you need to freeze your card, simply log in and do so whenever you want.

Email turned out to be one of the contact options, but we couldn’t find any information on the Wise website about hours of operation for the customer service team. In the other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Receiving money into your Wise Account is free with the exception of incoming USD and CAD wires, for which there’s a fixed charge of 6.11 USD and 10 CAD, respectively. Whenever a verification step is needed, you will be prompted with which information or documentation will be required in order to follow through with your transaction. Inside the rise of the $5 billion money-transfer fintech Wise, which has been profitable for years and is exploring an IPO.

• Everywhere we went – from basic Taco places (Taco El Pastor was great!) to the fanciest bars – the card worked seamlessly.
• You can send money that’s in your Wise account to a bank account outside of Wise whenever you like.
• Below, I’ll take you through what you need to know about the platform before signing up, and I’ll answer some of the more burning questions new users ask online.
• You can’t get all details at the same time — you’ll need to request details for each currency separately.

Traveling with the Wise debit card

• Let’s say you have a family member in the US, and they want to send you money.
• You can also open jars and groups to keep money separate from your main account.
• If you meet these conditions, your deposits are also insured by the FDIC to the tune of $250,000.
• Inside the rise of the $5 billion money-transfer fintech Wise, which has been profitable for years and is exploring an IPO.
• This feature has been designed to make splitting costs transparent and hassle-free.

Wise also integrates seamlessly with local banking networks in each country, so it becomes easy to transfer money in to and out of Wise to a local bank. Our smart technology links local bank accounts in countries all over the world. So often we’re able to use money from a Wise user sending money cybersecurity stocks list the other way around. Once we get that sorted, we’ll give you an estimate of when your money will arrive – usually it’s much faster than a bank transfer. Pay by credit or debit card or make a local bank transfer to Wise’s account in your country.

However, the App Store page for the app indicates some types of data may be collected and linked to your identity, such as contact information, financial information and search history. Save money when you send, spend and get paid in different currencies. You can use Wise for much more than just sending money. Banks and other providers add markups to the exchange rate to make you pay more. Everything you need to know about sending money abroad with Orange.

One account, for all the money in the world

The recipient gets money in EUR directly from Wise’s local bank account. Pay in USD with your debit card or credit card, or send the money from your online banking. You can use a Wise debit card with a PIN that you activate before you travel. Once fully activated, you can either add your card to a mobile wallet or use it as a physical payment source, and it’ll only ever use funds deposited into your Wise account. Just click Add either on your Home screen, or when viewing the currency you want to add. You’ll see different ways to add money depending on the amount, currency, and your region — like bank transfer or card payment.

Is there a difference between the borderless account, the multi-currency account, and the Wise account?

The amount goes up to $1.6 million for an international wire transfer through the SWIFT network. Local bank transfers tend to be cheaper than international wire transfers. If you’re sending money in the same currency from one Wise account to another, there is no fee to convert the amount, but Wise charges a nominal fee to complete the transfer. Transfer fees depend on the amount being sent, the type of currency the recipient will get and the payment method.

Never pay a hidden fee again

This free account lets you send, hold and receive money in a number of currencies. Get a debit card to spend online, at the checkout, and to withdraw cash in the currency you need right away. Google has teamed up money transfer firm Wise to let U.S. users send money to India and Singapore. Then, choose your reason for sending money – is it payment for work, goods sold, for charity?

The Owner sets up ‘Spend with others’ and has full control over the money in the group, even if the money is added in by a group Member. The Owner gives them the ability to contribute money to the group and to get a card to spend from the group. Depending on the country you’re sending from, we might need to have you verified.

Can I have a joint Wise account?

The cheapest way to send 30,000 USD to EUR is by using money that’s in your Wise account and costs 82.33 USD. We use the mid-market exchange rate — the fairest rate — and always show your fees upfront. A lot of people these days are wondering Is Wise FDIC insured? The answer is Yes, but with conditions – only US customers with a SSN/EIN or a US business with an EIN will be covered. Additionally, these customers must opt to earn interest in their USD account with Wise.

It’s easy to open your Wise Account online or in the Wise app, to send money to 160+ countries with the mid-market exchange rate and low, transparent fees. Wise is growing popular largely thanks to its ease and speed of transfers, as well as its competitive fee structure. It offers personal and business account services, too, which has opened up lots of opportunities for business owners and entrepreneurs to make and receive payments across borders.

If you’re registered in the EU, the limit is two people in a group. Currently, no matter where you are registered you can only be part of two groups. It’s different from a joint account, it works as third-party account access that has one owner who controls the access and money along with one or more members who have limited access.

Create your Wise account easily online or in the Wise app with just an email address, or your Google, Facebook or Apple account. Register with Wise online, or by downloading the handy Wise app. Look for the Register button, click, and enter your email address. To make it even easier, you can also sign up using a Google, Facebook or Apple account. The best way to send United States dollar to Euro is by using money that’s in your Wise account.