Wise Review 2023 – International Money Transfer

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Wise will help you save and store your international money transfers. Avoid the terrible exchange rates and unfair fees when sending or receiving money from abroad. You can hold many different currencies, and Wise is widely available across the globe, making international transfers easier than ever.

What is Wise?

Summary [Review]: Wise allows you to send and receive money internationally without the high fees. It is up to 8 times cheaper than a high-street bank. The company is valued at $3.5 billion dollars, and they handle $4 billion in transfers each month. They are the future of finance and are one of Europe’s most valuable private companies.

I accept all my online payments via Wise to avoid any poor currency conversion fees. It’s free to sign up!

“Receive money with international bank details, and track your transactions with notifications on your phone. Spend with your free debit Mastercard, and if necessary – instantly freeze it in-app.”


Why Choose Wise?

Transfer costs are usually made up of service fees and the exchange rate fee.

While some providers boast about their free’ transfers, their exchange rates are usually poor and do not reflect mid-market standards. They make up for the ‘free’ transfer by setting unfair exchange rates.

In contrast, Wise is very transparent about its low fees and offers a favorable exchange rate. You can see exactly how much you are paying in fees before you send it. The fees are very small, and you also receive the real exchange rate.

Wise offer a favorable mid-market rate and low fees. You can know the exact costs before sending any transfer so more worrying about hidden fees

Transferwise Sign up

Is Wise safe?

Yes, absolutely! Wise has over 70,000 5-star reviews on Trustpilot and is regulated by the FCA. They help millions of customers send and receive money each month.

Furthermore, I use Wise when receiving dollars from teaching companies abroad. This helps me save so much money. I’m receiving the best bang for my buck using Wise, allowing me to securely send money to family and friends and pay bills.

What are the Wise rates?


Wise offers the mid-market exchange rate, just like the one you see on Google. They have an onsite calculator to tell you precisely how much it will cost to send or receive money. You can adjust the transfer speed, which will also reduce the fee.

It is also up to 8 times cheaper than high street banks. Other providers, such as PayPal, charge much higher fees, with an average of 2.9% + $0.30 for every web transaction.

Wise allows you to convert your money to 45 currencies and you can get paid in multiple currencies without any fees.

Do I need the Wise card?

The Wise debit card can make business and travel much cheaper. It comes with no fees as long as you spend in a currency you already hold in your account.

Otherwise, you will have to pay a low conversion rate, as follows:

Card Issue Free
Spending Currency Available in Your Account Free
Spending Currency Unavailable in Your Account 0.35%-2.85% conversion fee
Spending any Unsupported Currency 0.35%-2.85% conversion fee
ATM Withdrawals 2% after the first $200/30 days
Withdrawals in Currency Unavailable in your Account 0.35%-2.85% conversion fee

Wise offer very favorable rates compared to banks. It is now the only method I use to receive money from companies abroad.

TransferWise App and Debit Card

Do I need the Wise app?

The Wise app makes it convenient to track and make new transfers. You can see all your previous recipients and their details, so you can make quick and easy transfers. You can also use Apple Pay when paying your recipients.

Get the app if you want to use Wise on your phone.

The app makes it easy to:

  • Bank Balance: See all your bank balances and the latest activity
  • Control Your Wise Card: Connect your card, show pin or freeze the card with the click of a button. Report missing cards or replace your card.
  • Accessible: Access your bank details from different countries to receive multiple currencies
  • Spending Limits: Set money limits of how much you can spend for greater financial control
  • Multi-factor Authentication: such as your fingerprint for extra security.
  • Direct Debit: Set up Direct Debits and add recipients
  • Financial Statements: See previous statements. You can also be notified from the app each time a payment is made from your Wise account
  • Referral: Invite friends to TWise and you can earn money while giving them a free transfer.

Wise Review: Pros and Cons

Here is what others have had to say about Wise:


  • Sign up for free
  • Mid-market exchange rates
  • Great savings with a borderless account
  • Low cost
  • The helpful customer service team
  • Debit card for purchasing goods and services


  • Occasional delays in transferring money to others
  • It May not be suitable for businesses that need to receive timely payments
  • No live chat support function; you will need to call or email them.
  • They now charge a small one-time fee to mail you the debit card, approximately $7/€6

I accept all my online payments via Wise to avoid any poor currency conversion fees. It’s free to sign up!

Wise is one of the most highly favored providers for transfers. The savings and low costs are great, but some people have found delays when using it to transfer money.

I have weighed this up with reviews from other providers, such as Payoneer and Paypal. Ultimately, Wise now has the most favorable rates compared to other financial services, such as banks.

It is used in many countries, and you will find that it is available worldwide, perfect for a traveler or an individual who needs to send and receive international payments.

I use it to receive my teaching income each month without any issues. Transfers usually take 1-2 days. The app offers quick and easy transfers, and the debit card is useful when traveling abroad or paying for goods online.

You can receive money in many different currencies and send it to your bank account or store it in your Wise account.

What Countries Can Use Wise?

Send and receive money from:

  • Europe (all SEPA countries)
  • United States
  • United Kingdom
  • Australia
  • New Zealand
  • Canada
  • Bulgaria
  • Brazil
  • Switzerland and Liechtenstein
  • Czech Republic
  • Denmark
  • Hong Kong
  • Croatia
  • Hungary
  • India
  • Indonesia
  • Japan
  • Malaysia
  • Norway
  • Poland
  • Romania
  • Sweden
  • Singapore
  • Turkey
  • United Arab Emirates

There are many more countries you can send money to but not open an account in. If this doesn’t quite fit your needs, check out our other online payment methods.


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Caitriona Maria is an education writer and founder of TPR Teaching, crafting inspiring pieces that promote the importance of developing new skills. For 7 years, she has been committed to providing students with the best learning opportunities possible, both domestically and abroad. Dedicated to unlocking students' potential, Caitriona has taught English in several countries and continues to explore new cultures through her travels.

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