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Wise

Wise (formerly TransferWise) is an online money transfer service that allows individuals and businesses to send money abroad at a lower cost and with greater transparency than traditional banks. Users can transfer money between accounts in different currencies or send money to other people's bank accounts.

Wise is an online money transfer service that provides a convenient and cost-effective way to send money internationally.



Pricing

  • Wise uses a variable fee structure based on the amount and currency being transferred
  • Fees are typically a percentage of the transfer amount, plus a fixed fee
  • Wise offers a multi-currency account with no monthly fees


Pricing: Freemium


Pros

  • Low fees for international money transfers
  • Transparent exchange rates
  • Fast and secure transfers
  • Multi-currency account options
  • Convenient online and mobile app

Cons

  • No cash pickup option
  • Limited customer support channels
  • Some currency routes have higher fees


Use Cases

  • Sending money to family or friends abroad
  • Paying bills or invoices in foreign currencies
  • Receiving money from overseas
  • Holding and managing multiple currencies

Target Market

  • Expatriates and immigrants
  • Freelancers and remote workers
  • Small businesses with international operations
  • Travelers and digital nomads


Competitors

  • OFX (formerly OzForex)
  • Remitly
  • CurrencyFair
  • WorldRemit

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