Wise Review 2022 – International Money Transfer

This post contains affiliate links. For more information, see my disclaimer here.

Wise will help you save and store your international money transfers. Avoid the terrible exchange rates and unfair fees when you want to send or receive 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 : 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.

Sign up for Wise for free here.

“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 two things – fees and the exchange rate.

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 are spending in a currency you are already holding 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.

After Signing Up, Remember to Download the Phone App:

Get the Wise app for Android
Get the Wise app for iOS

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
  • Helpful customer service team
  • Debit card for purchasing goods and services


  • Occasional delays 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

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 has the most favorable rates now compared to other financial services such as banks.

It is used in so 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 travelling 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 from:

  • EU Countries
  • United States
  • United Kingdom
  • Australia
  • New Zealand
  • Canada
  • Bulgaria
  • Brazil
  • Switzerland
  • Czech Republic
  • Denmark
  • Hong Kong
  • Croatia
  • Hungary
  • Japan
  • Norway
  • Poland
  • Sweden
  • Singapore

Country not listed? Check out our other online payment methods.

Sign Up to Wise

You can sign up for a free Wise account here:

This link is an affiliate link, meaning TPR Teaching will receive a commission if you sign up, at no extra cost. It helps support the website and keep it running. For further details, please see the disclaimer.

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I'm an Irish tutor and founder of TPR Teaching. I started teaching in 2016 and have since taught in the UK, Spain and online. I love learning new things about the English language and how to teach it better. I'm always trying to improve my knowledge, so I can better meet the needs of others! I enjoy traveling, nature walks, and soaking up a new culture. I also like a good Guinness! Please share this post if you find it helpful; I really appreciate it. Thank you!

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