Thank you for making this video. I emailed the company and said that I would not have felt comfortable making my first transfer without your help. Your video was excellent. Thank you.
I've looked at a lot of video tutorials on Transferwise, including their own linked from my account. Your video BEATS THEM ALL. Well done it should be the go to video
Many thanks for this video. It gave me courrage to proceed with my 1st transfer. And it went out perfectly. Once download the App, everything went out smoothly and even easier than expected. Wow! TransferWise is great! Will be my reference tool for future transactions, for sure! Also, in my case as well, the money arrived earlier, basically on the next working day. And just in time for a birthday party, which made it highly appreciated! 🎉🥳😁
I think you forgot to mention that it's not "converted" into a currency but TransferWise's Canadian bank account was notified to send you the amount that you agreed upon hence no fees were charged. So technically, no money was transferred between countries just between your AU bank and TW's AU bank and again with TW's Canadian bank with your Canadian bank.
I have not used TransfeWise before but looks like a great service. I currently use WorldRemit which has been amazing as well. They only charge $1.99 for any amount of transfer that I have made to the Phiilppines from U.S. I transfer directly into my bank account there with BDO from my Chase account. Takes a few hours for it to be delivered to my account in the Philippines but not too bad; like 2-4 hours for everything to be complete. They also send my recipient a text letting them know that they have a new deposit into the account.
Hi! Thank you for this video but I'd like to ask, let's say you're from United States and you have WISE , if you will use WISE to send money to a US bank account (doesn't have WISE account ), will the sender be charged for sending the amount? or it will be deducted on the receiver's end?
If you want to make sure the destination bank gets the whole $500, you can enter that in the “recipient gets exactly” line and the “You send” line will automatically adjust to fit.
Usually Transferwise fees are a percentage of the transaction, so it should be the same price for 3x600 or 1800. It depends on the route, you can see detailed fees before you commit to the transfer on TW's app or website.
Thank you SO much for the explanation between the two! Whilst bank transfer has fewer fees, it looks a bit more complicated so... I might stick with debit card. Will send this video over for anyone who needs it. Clear, concise, and I think your affiliate link does work!
I have a problem, been stuck for days. Trying to send money from Malaysia to the UK. Got stuck on all paying methods. I cant use my online banking, no way to transfer. What do I do? Please help
Super vid buddy. TransferWise should pay you royalties for making the procedure hell of a lot clearer than the information they provide. Cheers from Canada. PS, do a follow up video telling everybody to use your account number when sending money cause that is "the special number" and you can retire in the Bahamas ;)
I have used transfer wise for some time now, sending money from UK to Spain. A couple of points, do transfer before bank opens, I do mine before 0800 UK time, I normally get the money in Spanish bank about 15 minutes later, longest I waited was two hours. Transferred money does not actually leave the country, my money goes into UK account and they tell a euro account to pay me so no borders to cross, rates always good fees come out of the amount transferred .£ 1000 bank bank costs me £12 transfer wise about £4.
Question, if I transfer US dollars to British pounds and have the debit card, can I just withdraw the money from any atm at the airport as soon as I land in England?
I used Transferwise often, to transfer money from Canada to Poland. Recently they increased the fees, in 2019. Transfering larger sums, it was around 0.6%, now it comes close to 1% EXTRA fee. The problem is that they have their account in BMO only, and BMO has a limit of $7500 per day to do Wire transfer between mine account and TW online. To transfer bigger amounts, above $7500, BMO is adding its own fee of 0.2% to transfers between my account and TW private account. On the top of that, it is impossible to transfer online. You must personally go to the bank, get the papier cheque (draft), pay $8.50 and deposit it to the same cashier. It looks stupid on BMO side, but they have those archaic rules. Any other canadian Bank can transfer your larger sums directly to you account in another country, they have transfer fee (RBC fee of $42, plus $6.50 for draft), but their exchange rate is much worse, then you will loose money on exchange. Transferwise is ok for smaller amounts, but for 50k and more, their cost is comparable with the airplane ticket when moving money in a backpack and flying to Europe. TW is still good for a few hundred $, in comparison to Western Union which is charging 8% fee and it has a very low limits of transferred amounts.
Thanks for all the info, this is my very first to use transferwise and quite hesitate to wire money to a third party that's not a bank. Good job my friend👍
My girlfriend was injured while in Poland. Would the Wise card be a good way to pay the hospital bill there in Poland? What about purchasing her airplane tickets to travel from Poland back to the USA?
You explained the process perfectly correct, but I have a simple doubt: I am going to receive money (from another bank account in United States) in my borderless account in USD and I wanted to know if I need to make something on my TransferWise account or just the other bank send me the money and I will receive it afterwards. I hope you understand it well, considering that I am from Spain and my English is not so good. Thanks in advance!
can you transfer between two tansferwise customers ? I am from uk and the person I want the money to go to is in the us, he has. transfer wise too, will this be the best method instead of making a payment from transfewise once currency is converted instead of transferring to their us personal account ?
As far as I can tell there is no speed or cost benefit to sending money to a TW customer vs some random bank account. Either way the US dollars will come from a local bank in the US. So I suggest you send the money to your friend's regular bank account.
Can you tell me. The person I send money to , must necessary have separate transfer wise card or even regular bank credit card is okay ? I want to send money from Italy to Russia , on the person's credit card from my own (prepaid ) bank card. Can somebody tell me, if I can rely on transferwise ?
I have been very faith with using transfer wise for over 2years now , but right now I found out that other organisations are much higher in respect to the Nigerian Naira and the Euro . Please explain this .
Helpful. I’m trying to do my very first transfer from Canada to Uk. I have the sort codes entered but nothing else happens. No where to enter the account number & proceed to the steps you’ve outlined. What do I do now?
In this example my Canadian bank did not charge me any fees because it received the money via local transfer from Transferwise's local Canadian bank account.
If you have a paper cheque, you will not be able to deposit it in your TW account. If you have the option to specify direct deposit, then you can create a USD borderless account, get USA bank details and use that for your deposit account.
You could in theory open a borderless account with TW in USD, use your virtual US bank details to deposit USD from Paypal. However since CAD borderless accounts do not have virtual bank details (yet!), you will not be able to send CAD to paypal without sending CAD to a 'real' canadian bank account first.
Your demonstration was helpful but doesn't look like what my options are transferring US $ to € in France. I don't see the debit card or the POLI options.
Each countries have different options to 'send in' your money to Transferwise. POLI is definitely Australia-only. In the USA, Transferwise allows you to 'send in' money via ACH Bank Debit or domestic wire transfer.
If I need to send money from my american bank account to my N26 do I have to use transferwise before? does the american bank charge a fee for the transfer? Once I get the money on my transferwise account and I send it to my n26 card, do I have to pay any fee other than the exchange rate? I am working in America for a year and I'm trying to figure out the cheapest way to send that money back to Italy
It seems that Transferwise has partnered with N26 and has Transferwise already integrated into their mobile app (from what I gather on their website). Anyways, you can use Transferwise to send money to any european account from the USA. Once you have a TW account open, simply setup a transfer, then transfer money to TW's local american account (your US bank shouldnt charge you for this) and let TW take care of the rest. Euros will be transfered to your N26 account from TW's European bank account automatically. You dont have to have money in a TW balance if you dont want to.
Does TransferWise maintain their own reserves to exchange here and there? The question is how really they are able to provide better rates than banks notwithstanding banks are primarily into this exchange business at the outset?
They are able to beat banks because behind the scenes they dont really send money internationally. They have hundreds of local bank accounts across the world and they match opposite transfers together. So when I send AUD to Canada, my AUD never really left Australia... It stays in Australia until they need it for someone else who sends some other currency to Aus. On the other end, they just wired some CAD back to me after someone else sent CAD (which never really left Canada) to some random country.
how to withdraw in same currency for free of charge? e.g. withdrawing AUD balance from transferwise AUD account to my AUD bank account like combank or NAB or ING or etc. ?? Other than being stuck with the 350 AUD maximum cash ATM withdrawl without fee. ???
My question, for which I have not been able to find a response, is that I usually send money from my American account and it is usually automatic. This time, however, I wanted to send it from my Portuguese account. How do I change the bank from where I am sending it?
Setup the transfer from the TW app or website first. At the end of the process Transferwise will ask you how you want to send in money. Usually you should have the option to use bank transfer (you will be provided bank details on where to send money from your Portuguese bank) or you can use your Portuguese ATM or Credit card send in smaller amounts.
@@CreativeNomadTV You misunderstood the question. I have 3 recipient banks already and one bank from where I send the funds. I just wanted to send it from a different bank in a different country.
Doesn't look like you do many videos. Shame cos they're so good, and easy to do understand! You no doubt have better things to do in life, but if you're looking to do more, please do a transaction video for Currencyfair. Because of your Transferwise one, it gave me the courage to use it instead of the bank. Thanks!!
Very good practical video!!! Do you have any video on how to open a bank account online in Canada? did you open Tangerine in person? Thanks for your contribution!
very good vlog, as I live in Thailand I have been looking for the cheapest way with the best rates to transfer money here from Australia, the bank rates are pitiful, thanks mate!!
I spend a lot of time in Thailand, and was the main motivation behind getting this card. When you withdraw from ATMs there do you still get charged a fee?
You can but it will be slower and cost more than sending NZD to CAD (or NZD to USD in the USA). More details here: transferwise.com/help/articles/2946451/sending-usd-to-countries-outside-the-us
Good vid, thx. It seems like the fee is about .7% for your example, using two different currencies. Is it cheaper if you go dollar to dollar, euroo to euros etc? . Thinking that for bigger amounts, a regular bank wire is cheaper. For exaample, in my situation, a bank wire is 35usd to send and 25usd to receive, total of 60usd for dollars to dollars. So sending 10k usd would be about 70usd at transferwise, and only 60usd for a tradtional wire. Does this sound correct?
Transferwise is intended mainly for currency conversion. If you are not exchanging different currencies, regular bank transfers are probably cheaper? If you are comparing currency conversions however, dont forget to compare exchange rates as well as fees though.
Very clear, but when does the receipient have the money in the bank so that they could withdraw ? Is it in a couple of days or hours, please clarify. Thank you
It varies a lot depending which countries are involved in the transaction. It can be within 24h but can take a few business days on some routes. Transferwise will give you a time estimate before you commit to the transaction.
No..not really fast. I have my account details in transferwise. I had sent once before.Now when i sent money from Singapore to Australia (to my own account)..i was shocked when i saw transfer is complete But i could not see it in my ANZ acct. When i kept using the app to see what has happened...i found that money was sent to Transferwise's ANZ acct and NOT my account...it has been more than 28 hours and it is now the week end and believe me i had tried as many as 10 times trying every help line ..i see in the app.. to get in touch with some one from Transferwise/email/ chat (doesnot work), call (does not work) etc.Nothing works...i dont want to park the money in transferwise...its not about verification etc as all that is cleared..also i have sent once before about 6 months ago. .so why did the bank account details of Transferwise Australia added in between??!!!. MY bank details are still there in the system...I certainly did not type in those details of the Transferwise's bank account (BSB number/ Account Number etc.)....And worst of all is there are no email support as well to my queries, i sent, from the time the app showed as money successfully transferred!!! since that info..i.e.it has been more than 24 hours...i tried clicking on every transferwise help centres etc even in other countries as shown.. bec of the time diff ...trying to get some explain or let them know....no help ...i sent emails with all the reference for the transfer...nothing..no replies to the emails sent 24 hours ago...
Transferwise has the option to send money to someone other than yourself. See the screen at 1:42 titled "Who are you sending money to?". If you know the bank details for the recipient, you can fill them in yourself when setting up the transfer. If you don't know their bank details, then you need to provide the recipient's email address and TW will send them a form to fill in their bank details themselves. Either way the recipient needs to have a bank account to receive the funds.
I have two accounts.. One in Australia and other one in Bulgaria. I would like to transfer the money from my Australian account to Bulgarian. How should I do this? Any help would be much appreciated?
Hi, thank you for the video! the only what is still not clear for me - what type of account I should choose when I make a bank transfer to TransferWise (personal or business account)? (I'm in the UK)
This is you sending to you. I would have liked to see how one person sends to another person, because on my TW screen it says ‘friends and others’ cannot send to my account.
Sending money to someone is the exact same process as sending to yourself, you need the recipient's bank details. If you want someone to send you money, then you need to open a borderless account and give them your account details (only available to recive from UK, Euro, USA, Australia, NZ and Poland)
CreativeNomad TV Thanks. Uk to Thailand in under 24 hours. Delighted. I think maybe it is just that initial £20 to open a balance that has to come from my account. (I’m guessing) It definitely said “cannot receive money from friends and family”. So the money was sent, not to my GBP account but direct to Thailand. In fact, like me, my friend could not even find GBP in the drop down list. So we both got confused but muddled through.
I live in the States and I would like to get a transfer wise debit card because I'm going to Greece on vacation. Do I have to open a bank account in Greece too? Great video😊
Later , when I have to complete the receive registration with my name, address and etc. do I have to complete all the information on English or I have to complete it on my language ( for example I am from Bulgaria)
Hello.. Just a question. I have registered and been approved for business account in Transferwise. When i will try to add money in euro account and choose and click on the bank transfer method, it is not available. Does anyone know the reason?
I am doing a research about digital bankings for university. I would like to know why transferwise allows to top up the cards with our own debit card? This impplies that a merchant fee will be applied to transferwise each time I top up the card. Why don't they just allow bank transfer? Thank you! Great video!
Transferwise usually has very high limits and the limits are often per transaction or per day... Also I'm curious where you found a better deal than Transferwise? Usually they are really competitive on fees/exchange rates (spread).
@@CreativeNomadTV : Checked to send money INR -> US. Compare to Transferwise, I found ICICI bank a better service fee. Also , I found fees better for UK + EURO + CANADA few countries compare with Asian countries.
Make sure to compare the exchange rates, not just the fees. Banks sometimes charge low fees but have terrible exchange rates than can add sometimes 6-7% to the cost of the transfer.
Hi there...how much is the limit on remititing services if you tranfer your money using these into your savings account in India..like I am in UK..how much money can i safely transfer using transfer wise into my Indian savings account over the period of 3 months..Thanks
See links in description for supported countries. Each country has different limits (usually quite high... Up to 1 million USD sometimes more). I never had any issues doing transfers around 5 to 10k$... Your bank may have maximum daily limits for wire transfers.
Using a debit/credit card to fund a transfer is as secure as using your cards for online shopping. Usually Visa/Mastercard have good policies if someone makes an unauthorized payment on your card. For small occasional transfers using a credit card is fine. For large amounts bank transfer is the cheapest. POLi is an Australian specific payment platform. I would not use them.
@@CreativeNomadTV What bank info do I need from the person I am sending money to? Is it possible to send as mobile money? Some country have that. Thank you.
Usually you need bank account details (account number, IBAN, SWIFT code, etc...). The information required is different for each country. More info here: bit.ly/creativenomad_TW5
Great video, thanks. One question please... how does the recipient bank know who is sending the money. Let us say I send US$ from my bank account in USA to my account in Spain, how will the recipient bank know from whom the $$$ are being sent? Will my USA account and name appear on the transfer? Because of security concerns, banks will request information regarding the source of the income. Thank you very much. Jose Manuel
Can I send from the U.S. to recipient in the U.S. in USD? It doesn't allow for same currency transfers. Also can I send to a Company Title? If not what alternatives can I use to wire money to a company? Do they accept Paypal or prepaid debit cards?
Thank you so much for the wonderful video and tips! But one thing, Transferwise doesn't convert your AUD into CAD, in fact they will transfer CAD from Transferwise Canadian bank account to your Canadian bank account...
That is correct. Transferwise (and other so-called 'peer to peer' transfer services) dont technically move money across borders, they just pair customers with opposite transactions together. However, to keep my explanation simple, I decided to skip that bit as I felt the video was long enough as it is. :)
Does anyone know if Transferwise can work for Canadians (with no ssn or us citizenship) that want to set up autopay for utility bills for a home in usa? And if not, does anyone have any suggestions? Thanks ahead of time!
Please which of the fintech money transfer banks apart from TRANSFERWISE can super quick pick my money from my traditional old bank and also send it instantly to a recipient in Europe or Africa at a reasonable rate. From Austria
Competitors to Transferwise are Currencyfair and xe.com. You can also use moneytis.com to find a money transfer service for a given route. However 'super quick' international money transfers are not common.
@@CreativeNomadTV thanks for the response, my major concern is these competitor like moneytis, xe, all ask for the money to be transferred to them first which will take 2 or 3 days to reach them, before they convert and send, but Transferwise with my permission uses integrated payment partners like Sofort, Rapid transfer etc. to get the money instantly from my account, so that they can instantly procide with conversion and transfer. Awesome. Presently I have an ongoing issue with Transferwise and until they correct the mistake I can't use them. That's why I have to have alternatives incase of such occurrences. Do you have an idea, maybe it could be a reliable ewallet (that comes with a debit card) that can pick the money from my account in real time or instantly. Thanks
@@emmanuelpaul8851Paul we could help with your inquiry, faster turnarounds, no need to deposit first, and very competitive exchange rates. Let me know if you want to learn more. bcasso@inhedge.mx
Live n Norway,my income in Denmark.- I add Danish kr to my Tranferwisecard ...2) convert Danish kr to Norwegisan kr .....and use the debet card in Norway.- is that the way to do it ?
Yes! If you are lucky enough to live where Transferwise has debit cards. :) Other option would be to setup a transfer from your bank account in Denmark to your bank account in Norway and use your Norwegian debit card.
Hi, just sold my house in New Zealand and need to buy a house in Australia. Would I risk having my money confiscated by using Transferwise with respect to Anti Money Laundry or any other issue? thanks
In general I suggest to transfer large sums in a few smaller chunks. I would suggest sub-10k$ transfers on different days. It helps 'even out' variations in exchange rate. Also on the small chance of an issue with a transfer your entire sum isn't frozen while you attempt to fix the issue with the money transfer service. I dont see any way your money would be confiscated though. At worst your transfer will be frozen while the money transfer service gets more documentation from you.
Also, your bank and TransferWise probably have limits on how much money you can send in a single transfer. This link has all the supported countries: bit.ly/creativenomad_TW6 Click on "NZD - New Zealand Dollar" to see the TransferWise limits.
If for example, I am an employer and I want to send money to my employee's bank account using TW, does my employee need to create a TW account or do I just provide the bank details upon sending the money, et cetera? Thanks for the awesome video!
Hi Ryan, yes if you have your employee's bank details (I guess in a different country than yours) you can use 'someone else' as the recipient and TW will deposit the money in their account.
1. I am based in Canada and want to pay my supplier located in China using USD. Will TransferWise let me send X amount of CAN dollars so that my supplier in China receives X amount in USD? 2. Can I receive money in USD and keep it in my TransferWise account? So that when I need to pay my supplier, instead of transfering CAN to USD, I would simply pay him with the USD dollars I received? In other words, does the location of where we are sending the money or receiving money mathers?
Hi Thomas. Yes 'location matters'! In general, Transferwise only allows you to 'send in'/'send out' currencies in their respective countries. For example CAD can only be sent/received within Canada. For more details check this link: transferwise.com/help/article/1570071/basic-information/supported-countries Transferwise also offers a 'Borderless Account' which gives you a virtual US bank account. You can send in CAD for example, convert it to USD and keep it in your Borderless Account as USD until you need it. You can also give your virtual account details to people/businesses in the US so they can pay you in USD directly. If your supplier accepts CNY, you may be able to send it using TW (see link above). Otherwise if your supplier has a USD account in the US, you can definitely use TW to pay them.
Do you have to have a phone verification? I am a Canadian national, with a Canadian bank, and a Canadian address. But I'm living in the Philippines. I want to transfer funds from Canada to the Philippines. Do I need to have a Canadian phone number to verify my transactions or identity? Or can I use a Philippines phone number? Thanks a million!
I think you can have a phone number from a different country to your 'home' address... I remember setting up my TW account while I was outside of Canada... But the was years ago...
Transferwise is meant to have a bank account as the recipient for transfers. If you have bank details for the company you want to pay, you could use Transferwise to pay them.
Hi Jonas, There are different ways for you to program foreign bill payments on a regular basis without all the hassle. If you're interested in this service, please let me know, we work with world class regulated entities. bcasso@inhedge.mx Regards.
I'm guessing you need to verify your account by sending photos a piece of ID and a proof of address. It's been a while since I have verified my own account... not sure what the exact steps are today. I'm sure TW customer support could help you.
If someone in another country wants to send you money, you have 2 options: 1) they can open an account with Transferwise, get your bank details and use your account as recipient for the transfer. 2) If the money is being sent from the UK, Eurozone, Australia or USA, you could open a Transferwise Borderless Account and give your virtual bank details to the person that wants to send you money. Then they can do a local wire transfer from their regular bank to your borderless account. Then you can convert and send yourself the money to any currency/country supported by Transferwise (not just the 4 listed above).
My transfer dint say none of that,,I got an email saying "your transfer is set up,,your money will get to us in 3 working days and a nine digit number,,thats it,,,,,,I question them about debit and the limits of it because I red something about it ,and this is what they say"""The direct debit payment that you've set up is from your bank account and considered as bank transfer. It's not a debit card payment,,,,so,,please tell me what you think,,this is the first time I'm doing this,,from the USA to Indonesia.
If you mean transferring money from your TW Borderless Account to a 'real' account, then regular TW conversion fees will apply when you convert your currency. Fees are usually low and quite clearly shown before you commit to the trade. I've never had my bank charge me for receiving money from TW (they dont know it's TW... It's just a local transfer to them).
For a transfer from India to Australia, you would send funds to Transferwise using your Indian bank via a local payment. You dont need an international debit card.
Thanks for the video, CN TV. I came to it because my supplier in the US suggested I use TW, which is new to me. My need and question might be similar to those posted below by phoenixbluex and Thomas Begin. I'm in Canada and want to pay the US supplier. The wrinkle is the money is already in US$, held in a Cdn bank. I don't want to convert currencies, just move the money into the recipient account. Can I do that via a TW transfer? Or can I move US$ from my Cdn main street bank into a TW borderless account, and then pay the supplier from that? Appreciate your insight into this!
You may be able to send USD to Transferwise using a SWIFT wire transfer. But since you dont need currency conversion, you will pay the same fees on your bank's side transferring to TW's USD account in the USA as you would transferring directly to your supplier in the US.
Do you know if i can use transferwise if i need to send money from my bank account in Tbilisi-Georgia? And can i send money to a bank in Lebanon? Thanks!
Hi, great video, I love Transferwise. It has changed my International life and especially helped in Covid times. One question, any idea how to amend an existing payee's details ? I need to change an email adress of the payee and trying to avoid deleting the payee and resetting up. Thanks.
I'm not familiar with all the details with Payoneer, but from checking their website it seems like they give you local bank details similar to TransferWise's Borderless Account. In theory you could use your Payoneer bank details as your recipient for a TW money transfer.
Thank you for making this video. I emailed the company and said that I would not have felt comfortable making my first transfer without your help. Your video was excellent. Thank you.
Thank you Tricia this means a lot!
I've looked at a lot of video tutorials on Transferwise, including their own linked from my account. Your video BEATS THEM ALL. Well done it should be the go to video
Thanks for the kind words John, I really appreciate it!
ua-cam.com/video/mnIUPO2N_Z8/v-deo.html
Thank you so much for this. I'm very new to sending my grandchildren money in Canada from Australia. My son recommended TransferWise.
No worries, happy to help!
Many thanks for this video. It gave me courrage to proceed with my 1st transfer. And it went out perfectly. Once download the App, everything went out smoothly and even easier than expected. Wow! TransferWise is great! Will be my reference tool for future transactions, for sure! Also, in my case as well, the money arrived earlier, basically on the next working day. And just in time for a birthday party, which made it highly appreciated! 🎉🥳😁
How many days was it take?
@@lianariyadi7894 I made it on a Saturday and the next Monday the money arrived. So even faster than expected! 😉
I think you forgot to mention that it's not "converted" into a currency but TransferWise's Canadian bank account was notified to send you the amount that you agreed upon hence no fees were charged. So technically, no money was transferred between countries just between your AU bank and TW's AU bank and again with TW's Canadian bank with your Canadian bank.
I have not used TransfeWise before but looks like a great service. I currently use WorldRemit which has been amazing as well. They only charge $1.99 for any amount of transfer that I have made to the Phiilppines from U.S. I transfer directly into my bank account there with BDO from my Chase account. Takes a few hours for it to be delivered to my account in the Philippines but not too bad; like 2-4 hours for everything to be complete. They also send my recipient a text letting them know that they have a new deposit into the account.
Love your great explanation.!!! I wish Wise would state "reference number" on the drop down box. I know I will miss that.
Hi! Thank you for this video but I'd like to ask, let's say you're from United States and you have WISE , if you will use WISE to send money to a US bank account (doesn't have WISE account ), will the sender be charged for sending the amount? or it will be deducted on the receiver's end?
If you want to make sure the destination bank gets the whole $500, you can enter that in the “recipient gets exactly” line and the “You send” line will automatically adjust to fit.
you cant imagine how much this video has helped me, stay blessed
You're welcome Ahmar!
Excellent tutorial, the best one I've seen for Transferwise, glad I clicked on your video, thanks!
Thanks!
If I want to send money 3 times of $ 600- abroad in a month, will it cheaper if I send the total $1,800- at once ? Thank you
Usually Transferwise fees are a percentage of the transaction, so it should be the same price for 3x600 or 1800. It depends on the route, you can see detailed fees before you commit to the transfer on TW's app or website.
Thank you SO much for the explanation between the two! Whilst bank transfer has fewer fees, it looks a bit more complicated so... I might stick with debit card. Will send this video over for anyone who needs it. Clear, concise, and I think your affiliate link does work!
I have a problem, been stuck for days. Trying to send money from Malaysia to the UK. Got stuck on all paying methods. I cant use my online banking, no way to transfer. What do I do? Please help
Thanks for your video. I was precisely asking me what for was the reference number. It helped me.
Glad to help!
Thanks, U explained it better than their website!
Thanks!
Super vid buddy. TransferWise should pay you royalties for making the procedure hell of a lot clearer than the information they provide. Cheers from Canada. PS, do a follow up video telling everybody to use your account number when sending money cause that is "the special number" and you can retire in the Bahamas ;)
Hahaha yeah retire in the Bahamas... or get a visit from the RCMP. :)
I have used transfer wise for some time now, sending money from UK to Spain. A couple of points, do transfer before bank opens, I do mine before 0800 UK time, I normally get the money in Spanish bank about 15 minutes later, longest I waited was two hours. Transferred money does not actually leave the country, my money goes into UK account and they tell a euro account to pay me so no borders to cross, rates always good fees come out of the amount transferred .£ 1000 bank bank costs me £12 transfer wise about £4.
Good info! Thanks for sharing.
This guy explains it way better than wise which didn't even give me any proper instructions
Question, if I transfer US dollars to British pounds and have the debit card, can I just withdraw the money from any atm at the airport as soon as I land in England?
I used Transferwise often, to transfer money from Canada to Poland. Recently they increased the fees, in 2019. Transfering larger sums, it was around 0.6%, now it comes close to 1% EXTRA fee.
The problem is that they have their account in BMO only, and BMO has a limit of $7500 per day to do Wire transfer between mine account and TW online.
To transfer bigger amounts, above $7500, BMO is adding its own fee of 0.2% to transfers between my account and TW private account. On the top of that, it is impossible to transfer online. You must personally go to the bank, get the papier cheque (draft), pay $8.50 and deposit it to the same cashier. It looks stupid on BMO side, but they have those archaic rules.
Any other canadian Bank can transfer your larger sums directly to you account in another country, they have transfer fee (RBC fee of $42, plus $6.50 for draft), but their exchange rate is much worse, then you will loose money on exchange.
Transferwise is ok for smaller amounts, but for 50k and more, their cost is comparable with the airplane ticket when moving money in a backpack and flying to Europe.
TW is still good for a few hundred $, in comparison to Western Union which is charging 8% fee and it has a very low limits of transferred amounts.
Thanks for all the info, this is my very first to use transferwise and quite hesitate to wire money to a third party that's not a bank. Good job my friend👍
Thanks Mickey!
My girlfriend was injured while in Poland. Would the Wise card be a good way to pay the hospital bill there in Poland? What about purchasing her airplane tickets to travel from Poland back to the USA?
You explained the process perfectly correct, but I have a simple doubt: I am going to receive money (from another bank account in United States) in my borderless account in USD and I wanted to know if I need to make something on my TransferWise account or just the other bank send me the money and I will receive it afterwards. I hope you understand it well, considering that I am from Spain and my English is not so good. Thanks in advance!
Great video, this was better than transferwise own videos
can you transfer between two tansferwise customers ? I am from uk and the person I want the money to go to is in the us, he has. transfer wise too, will this be the best method instead of making a payment from transfewise once currency is converted instead of transferring to their us personal account ?
As far as I can tell there is no speed or cost benefit to sending money to a TW customer vs some random bank account. Either way the US dollars will come from a local bank in the US. So I suggest you send the money to your friend's regular bank account.
Good job my friend! That made the entire concept very clear.
Thank you David!
@@CreativeNomadTV ml k
@@MariaHelena-ur4zi ua-cam.com/video/mnIUPO2N_Z8/v-deo.html
I'll be transferring money from usa to Ireland what currency should I choose?Thanks
Can you tell me. The person I send money to , must necessary have separate transfer wise card or even regular bank credit card is okay ? I want to send money from Italy to Russia , on the person's credit card from my own (prepaid ) bank card. Can somebody tell me, if I can rely on transferwise ?
The recipient does not need a Transferwise account. Transferwise can send to regular bank accounts or cards in Russia.
@@CreativeNomadTV Thanks ;)
I have been very faith with using transfer wise for over 2years now , but right now I found out that other organisations are much higher in respect to the Nigerian Naira and the Euro . Please explain this .
Care to share the name of these other organisations so that others can benefit too?
Helpful. I’m trying to do my very first transfer from Canada to Uk. I have the sort codes entered but nothing else happens. No where to enter the account number & proceed to the steps you’ve outlined. What do I do now?
Once you are logged on TransferWise, go to Activity on top left, then 'send money' (green button) and follow the prompts like shown in the video.
in his example, does de canadean bank charge something if it receives the money ?
can you say, "transferwise" charges 1% of the transfer money ?
In this example my Canadian bank did not charge me any fees because it received the money via local transfer from Transferwise's local Canadian bank account.
US Economic Impact Payment check - could I deposit it into my TW Account? I am in UK.
If you have a paper cheque, you will not be able to deposit it in your TW account. If you have the option to specify direct deposit, then you can create a USD borderless account, get USA bank details and use that for your deposit account.
Can i send USD from paypal to transferwise, and convert using their better rates, then transfering it back to my paypal in CAD ?
You could in theory open a borderless account with TW in USD, use your virtual US bank details to deposit USD from Paypal. However since CAD borderless accounts do not have virtual bank details (yet!), you will not be able to send CAD to paypal without sending CAD to a 'real' canadian bank account first.
Your demonstration was helpful but doesn't look like what my options are transferring US $ to € in France. I don't see the debit card or the POLI options.
Each countries have different options to 'send in' your money to Transferwise. POLI is definitely Australia-only.
In the USA, Transferwise allows you to 'send in' money via ACH Bank Debit or domestic wire transfer.
Can I transfer money from the US to the UK?
Yes
If I need to send money from my american bank account to my N26 do I have to use transferwise before? does the american bank charge a fee for the transfer? Once I get the money on my transferwise account and I send it to my n26 card, do I have to pay any fee other than the exchange rate? I am working in America for a year and I'm trying to figure out the cheapest way to send that money back to Italy
It seems that Transferwise has partnered with N26 and has Transferwise already integrated into their mobile app (from what I gather on their website). Anyways, you can use Transferwise to send money to any european account from the USA. Once you have a TW account open, simply setup a transfer, then transfer money to TW's local american account (your US bank shouldnt charge you for this) and let TW take care of the rest. Euros will be transfered to your N26 account from TW's European bank account automatically. You dont have to have money in a TW balance if you dont want to.
Hey all I have to say is THANK YOU!!!!! I was having the hardest time trying to use my debit card.. you're the man!!😀
Hey thank you!
@@CreativeNomadTV Is it possible to use PayPal???
Does TransferWise maintain their own reserves to exchange here and there? The question is how really they are able to provide better rates than banks notwithstanding banks are primarily into this exchange business at the outset?
They are able to beat banks because behind the scenes they dont really send money internationally. They have hundreds of local bank accounts across the world and they match opposite transfers together. So when I send AUD to Canada, my AUD never really left Australia... It stays in Australia until they need it for someone else who sends some other currency to Aus. On the other end, they just wired some CAD back to me after someone else sent CAD (which never really left Canada) to some random country.
Hello, I don't know if you're familiar with red bubble payment options, if you are, can transferwise be used to receive payment from red bubble?
how to withdraw in same currency for free of charge? e.g. withdrawing AUD balance from transferwise AUD account to my AUD bank account like combank or NAB or ING or etc. ??
Other than being stuck with the 350 AUD maximum cash ATM withdrawl without fee. ???
super helpful, thanks so much!! you did a service to the world with this!!!!
Thank you!
I'm moving to Mexico I didn't have an account there yet. So how would I get money when I get there.
My question, for which I have not been able to find a response, is that I usually send money from my American account and it is usually automatic. This time, however, I wanted to send it from my Portuguese account. How do I change the bank from where I am sending it?
Setup the transfer from the TW app or website first. At the end of the process Transferwise will ask you how you want to send in money. Usually you should have the option to use bank transfer (you will be provided bank details on where to send money from your Portuguese bank) or you can use your Portuguese ATM or Credit card send in smaller amounts.
@@CreativeNomadTV You misunderstood the question. I have 3 recipient banks already and one bank from where I send the funds. I just wanted to send it from a different bank in a different country.
Doesn't look like you do many videos. Shame cos they're so good, and easy to do understand! You no doubt have better things to do in life, but if you're looking to do more, please do a transaction video for Currencyfair.
Because of your Transferwise one, it gave me the courage to use it instead of the bank. Thanks!!
Thanks for the kind words. I've been busy with my day job but I'll do more in the future for sure.
Very good practical video!!! Do you have any video on how to open a bank account online in Canada? did you open Tangerine in person? Thanks for your contribution!
Best description - of how service works thanks so much
Thanks Lynette
ua-cam.com/video/mnIUPO2N_Z8/v-deo.html
very good vlog, as I live in Thailand I have been looking for the cheapest way with the best rates to transfer money here from Australia, the bank rates are pitiful, thanks mate!!
No worries!
I spend a lot of time in Thailand, and was the main motivation behind getting this card. When you withdraw from ATMs there do you still get charged a fee?
@@oxanda7687 yea fee now is 220 baht taking money out of ATM in Thailand with your foreign atm
@@oxanda7687 ua-cam.com/video/mnIUPO2N_Z8/v-deo.html
Hello there,, can we send the money to Saudi Arabia? and do i need to have bank account to sing up with them ?
I have a US account in Canada. Can my associate use TranferWise to deposit US dollars from New Zealand to my US account in Canada?
You can but it will be slower and cost more than sending NZD to CAD (or NZD to USD in the USA).
More details here:
transferwise.com/help/articles/2946451/sending-usd-to-countries-outside-the-us
Good vid, thx. It seems like the fee is about .7% for your example, using two different currencies. Is it cheaper if you go dollar to dollar, euroo to euros etc?
.
Thinking that for bigger amounts, a regular bank wire is cheaper. For exaample, in my situation, a bank wire is 35usd to send and 25usd to receive, total of 60usd for dollars to dollars. So sending 10k usd would be about 70usd at transferwise, and only 60usd for a tradtional wire. Does this sound correct?
Transferwise is intended mainly for currency conversion. If you are not exchanging different currencies, regular bank transfers are probably cheaper? If you are comparing currency conversions however, dont forget to compare exchange rates as well as fees though.
Very clear, but when does the receipient have the money in the bank so that they could withdraw ? Is it in a couple of days or hours, please clarify. Thank you
Nim De Alwis usually within 24hours. max 48.
It varies a lot depending which countries are involved in the transaction. It can be within 24h but can take a few business days on some routes. Transferwise will give you a time estimate before you commit to the transaction.
No..not really fast. I have my account details in transferwise. I had sent once before.Now when i sent money from Singapore to Australia (to my own account)..i was shocked when i saw transfer is complete But i could not see it in my ANZ acct. When i kept using the app to see what has happened...i found that money was sent to Transferwise's ANZ acct and NOT my account...it has been more than 28 hours and it is now the week end and believe me i had tried as many as 10 times trying every help line ..i see in the app.. to get in touch with some one from Transferwise/email/ chat (doesnot work), call (does not work) etc.Nothing works...i dont want to park the money in transferwise...its not about verification etc as all that is cleared..also i have sent once before about 6 months ago. .so why did the bank account details of Transferwise Australia added in between??!!!. MY bank details are still there in the system...I certainly did not type in those details of the Transferwise's bank account (BSB number/ Account Number etc.)....And worst of all is there are no email support as well to my queries, i sent, from the time the app showed as money successfully transferred!!! since that info..i.e.it has been more than 24 hours...i tried clicking on every transferwise help centres etc even in other countries as shown.. bec of the time diff ...trying to get some explain or let them know....no help ...i sent emails with all the reference for the transfer...nothing..no replies to the emails sent 24 hours ago...
Great info on sending to yourSELF. What about sending to another party? What tips, suggestions, etc.? Thx.
Transferwise has the option to send money to someone other than yourself. See the screen at 1:42 titled "Who are you sending money to?".
If you know the bank details for the recipient, you can fill them in yourself when setting up the transfer. If you don't know their bank details, then you need to provide the recipient's email address and TW will send them a form to fill in their bank details themselves.
Either way the recipient needs to have a bank account to receive the funds.
I have two accounts.. One in Australia and other one in Bulgaria. I would like to transfer the money from my Australian account to Bulgarian. How should I do this? Any help would be much appreciated?
Same as my example in the video except you will need your IBAN number for your recipient account in Bulgaria.
Thank you for your video. Does TransferWise provide such documents as transaction/receipt/invoice?
Hi, thank you for the video! the only what is still not clear for me - what type of account I should choose when I make a bank transfer to TransferWise (personal or business account)? (I'm in the UK)
If you're sending it then personal, if your business is sending it, then business. Capiche?
@@petemiller519 Capiche! Thank you!
This is you sending to you. I would have liked to see how one person sends to another person, because on my TW screen it says ‘friends and others’ cannot send to my account.
Sending money to someone is the exact same process as sending to yourself, you need the recipient's bank details. If you want someone to send you money, then you need to open a borderless account and give them your account details (only available to recive from UK, Euro, USA, Australia, NZ and Poland)
CreativeNomad TV Thanks. Uk to Thailand in under 24 hours. Delighted. I think maybe it is just that initial £20 to open a balance that has to come from my account. (I’m guessing) It definitely said “cannot receive money from friends and family”. So the money was sent, not to my GBP account but direct to Thailand. In fact, like me, my friend could not even find GBP in the drop down list. So we both got confused but muddled through.
I live in the States and I would like to get a transfer wise debit card because I'm going to Greece on vacation. Do I have to open a bank account in Greece too? Great video😊
Alguien sabe si se puede retirar el dinero transferwise a una cuenta banco de una tercera persona ¿? a mi me la bloquearon pero averiguo para un amigo
Later , when I have to complete the receive registration with my name, address and etc. do I have to complete all the information on English or I have to complete it on my language ( for example I am from Bulgaria)
Hello.. Just a question. I have registered and been approved for business account in Transferwise. When i will try to add money in euro account and choose and click on the bank transfer method, it is not available. Does anyone know the reason?
I am doing a research about digital bankings for university. I would like to know why transferwise allows to top up the cards with our own debit card? This impplies that a merchant fee will be applied to transferwise each time I top up the card. Why don't they just allow bank transfer? Thank you! Great video!
Good video with easy explanations !! But when I tried the fee is too much and there is a limit to send the money.
Transferwise usually has very high limits and the limits are often per transaction or per day... Also I'm curious where you found a better deal than Transferwise? Usually they are really competitive on fees/exchange rates (spread).
@@CreativeNomadTV : Checked to send money INR -> US. Compare to Transferwise, I found ICICI bank a better service fee. Also , I found fees better for UK + EURO + CANADA few countries compare with Asian countries.
Make sure to compare the exchange rates, not just the fees. Banks sometimes charge low fees but have terrible exchange rates than can add sometimes 6-7% to the cost of the transfer.
Hi there...how much is the limit on remititing services if you tranfer your money using these into your savings account in India..like I am in UK..how much money can i safely transfer using transfer wise into my Indian savings account over the period of 3 months..Thanks
See links in description for supported countries. Each country has different limits (usually quite high... Up to 1 million USD sometimes more). I never had any issues doing transfers around 5 to 10k$... Your bank may have maximum daily limits for wire transfers.
so would it not be easy for hackers to get our info and cash for debit or credit?
what is "POLY"?
Using a debit/credit card to fund a transfer is as secure as using your cards for online shopping. Usually Visa/Mastercard have good policies if someone makes an unauthorized payment on your card. For small occasional transfers using a credit card is fine. For large amounts bank transfer is the cheapest.
POLi is an Australian specific payment platform. I would not use them.
@@CreativeNomadTV thank you! i searched for reviews for Wise and found out so many negative reviews😅 at consumeraffairs.com
so i changed my mind😅
I am not sure if I miss this but you did not talk of receiving end. How and in which form do you receive money from Transferwise?
The money gets deposited automatically in the recipient's bank account.
@@CreativeNomadTV What bank info do I need from the person I am sending money to? Is it possible to send as mobile money? Some country have that. Thank you.
Usually you need bank account details (account number, IBAN, SWIFT code, etc...). The information required is different for each country. More info here: bit.ly/creativenomad_TW5
do you need the same name on the debit card and the transferwise account?
Great video, thanks. One question please... how does the recipient bank know who is sending the money. Let us say I send US$ from my bank account in USA to my account in Spain, how will the recipient bank know from whom the $$$ are being sent? Will my USA account and name appear on the transfer? Because of security concerns, banks will request information regarding the source of the income. Thank you very much. Jose Manuel
You can do a test transfer with a small sum to see exactly what info appears on the receiving end. It varies by country.
Could we deposit our EIP check into TW???🤓
i-ve made two transfers and they close my acount...Transferwise
what a video, buddy! Pretty good!
Thanks Daniel!
Can I send from the U.S. to recipient in the U.S. in USD? It doesn't allow for same currency transfers. Also can I send to a Company Title? If not what alternatives can I use to wire money to a company? Do they accept Paypal or prepaid debit cards?
Just use Venmo. It’s fast and free
Thank you so much for the wonderful video and tips! But one thing, Transferwise doesn't convert your AUD into CAD, in fact they will transfer CAD from Transferwise Canadian bank account to your Canadian bank account...
That is correct. Transferwise (and other so-called 'peer to peer' transfer services) dont technically move money across borders, they just pair customers with opposite transactions together. However, to keep my explanation simple, I decided to skip that bit as I felt the video was long enough as it is. :)
Does anyone know if Transferwise can work for Canadians (with no ssn or us citizenship) that want to set up autopay for utility bills for a home in usa? And if not, does anyone have any suggestions? Thanks ahead of time!
Please which of the fintech money transfer banks apart from TRANSFERWISE can super quick pick my money from my traditional old bank and also send it instantly to a recipient in Europe or Africa at a reasonable rate. From Austria
Competitors to Transferwise are Currencyfair and xe.com. You can also use moneytis.com to find a money transfer service for a given route.
However 'super quick' international money transfers are not common.
@@CreativeNomadTV thanks for the response, my major concern is these competitor like moneytis, xe, all ask for the money to be transferred to them first which will take 2 or 3 days to reach them, before they convert and send, but Transferwise with my permission uses integrated payment partners like Sofort, Rapid transfer etc. to get the money instantly from my account, so that they can instantly procide with conversion and transfer. Awesome.
Presently I have an ongoing issue with Transferwise and until they correct the mistake I can't use them. That's why I have to have alternatives incase of such occurrences.
Do you have an idea, maybe it could be a reliable ewallet (that comes with a debit card) that can pick the money from my account in real time or instantly.
Thanks
@@emmanuelpaul8851Paul we could help with your inquiry, faster turnarounds, no need to deposit first, and very competitive exchange rates. Let me know if you want to learn more. bcasso@inhedge.mx
Live n Norway,my income in Denmark.- I add Danish kr to my Tranferwisecard ...2) convert Danish kr to Norwegisan kr .....and use the debet card in Norway.- is that the way to do it ?
Yes! If you are lucky enough to live where Transferwise has debit cards. :) Other option would be to setup a transfer from your bank account in Denmark to your bank account in Norway and use your Norwegian debit card.
Where’s the link of your referral?
Hi, just sold my house in New Zealand and need to buy a house in Australia. Would I risk having my money confiscated by using Transferwise with respect to Anti Money Laundry or any other issue? thanks
In general I suggest to transfer large sums in a few smaller chunks. I would suggest sub-10k$ transfers on different days. It helps 'even out' variations in exchange rate. Also on the small chance of an issue with a transfer your entire sum isn't frozen while you attempt to fix the issue with the money transfer service.
I dont see any way your money would be confiscated though. At worst your transfer will be frozen while the money transfer service gets more documentation from you.
Also, your bank and TransferWise probably have limits on how much money you can send in a single transfer.
This link has all the supported countries: bit.ly/creativenomad_TW6
Click on "NZD - New Zealand Dollar" to see the TransferWise limits.
@@CreativeNomadTV thank you so much for your replies. appreciate it
If for example, I am an employer and I want to send money to my employee's bank account using TW, does my employee need to create a TW account or do I just provide the bank details upon sending the money, et cetera? Thanks for the awesome video!
Hi Ryan, yes if you have your employee's bank details (I guess in a different country than yours) you can use 'someone else' as the recipient and TW will deposit the money in their account.
1. I am based in Canada and want to pay my supplier located in China using USD. Will TransferWise let me send X amount of CAN dollars so that my supplier in China receives X amount in USD?
2. Can I receive money in USD and keep it in my TransferWise account? So that when I need to pay my supplier, instead of transfering CAN to USD, I would simply pay him with the USD dollars I received?
In other words, does the location of where we are sending the money or receiving money mathers?
Hi Thomas.
Yes 'location matters'! In general, Transferwise only allows you to 'send in'/'send out' currencies in their respective countries. For example CAD can only be sent/received within Canada.
For more details check this link: transferwise.com/help/article/1570071/basic-information/supported-countries
Transferwise also offers a 'Borderless Account' which gives you a virtual US bank account. You can send in CAD for example, convert it to USD and keep it in your Borderless Account as USD until you need it. You can also give your virtual account details to people/businesses in the US so they can pay you in USD directly.
If your supplier accepts CNY, you may be able to send it using TW (see link above).
Otherwise if your supplier has a USD account in the US, you can definitely use TW to pay them.
Do you have to have a phone verification? I am a Canadian national, with a Canadian bank, and a Canadian address. But I'm living in the Philippines. I want to transfer funds from Canada to the Philippines. Do I need to have a Canadian phone number to verify my transactions or identity? Or can I use a Philippines phone number? Thanks a million!
I think you can have a phone number from a different country to your 'home' address... I remember setting up my TW account while I was outside of Canada... But the was years ago...
Does transferwise work with ebay managed payments?
Do they provide a visa card for using at atms like revolut?
In some countries (UK, Switzerland, Australia, New Zealand, Singapore, and most of the EEA) you can get a Transferwise debit MasterCard.
Nicely done! Could this be used as paying regular bills to foreign companies? Sick of paying high bank fees all the time. Cheers!
Transferwise is meant to have a bank account as the recipient for transfers. If you have bank details for the company you want to pay, you could use Transferwise to pay them.
Hi Jonas,
There are different ways for you to program foreign bill payments on a regular basis without all the hassle. If you're interested in this service, please let me know, we work with world class regulated entities. bcasso@inhedge.mx
Regards.
Hi, The receiver of the money needs to have the transfer wise app or only the sender?
Only the sender needs a TW account.
Can you tell me plz.. how to resubmit id in transferwise?
How can i verify my Transferwise account here in Philippines? I tried to add money and it says i have to verify to get bamk details. Can you help?
I'm guessing you need to verify your account by sending photos a piece of ID and a proof of address. It's been a while since I have verified my own account... not sure what the exact steps are today. I'm sure TW customer support could help you.
I have a question. I’m not sending money but somebody wants to send money to me. Do I have to have a transfer wise account?
If someone in another country wants to send you money, you have 2 options: 1) they can open an account with Transferwise, get your bank details and use your account as recipient for the transfer.
2) If the money is being sent from the UK, Eurozone, Australia or USA, you could open a Transferwise Borderless Account and give your virtual bank details to the person that wants to send you money. Then they can do a local wire transfer from their regular bank to your borderless account. Then you can convert and send yourself the money to any currency/country supported by Transferwise (not just the 4 listed above).
I am in Norway and do business with Pakistan , Romania and China. Can I use transfer wise in these countries?
See links in description for supported countries/currencies.
My transfer dint say none of that,,I got an email saying "your transfer is set up,,your money will get to us in 3 working days and a nine digit number,,thats it,,,,,,I question them about debit and the limits of it because I red something about it ,and this is what they say"""The direct debit payment that you've set up is from your bank account and considered as bank transfer. It's not a debit card payment,,,,so,,please tell me what you think,,this is the first time I'm doing this,,from the USA to Indonesia.
Any hidden fees when transferring money from Transferwise to your personal account (after receiving it from someone else?)
If you mean transferring money from your TW Borderless Account to a 'real' account, then regular TW conversion fees will apply when you convert your currency. Fees are usually low and quite clearly shown before you commit to the trade. I've never had my bank charge me for receiving money from TW (they dont know it's TW... It's just a local transfer to them).
@@CreativeNomadTV Thank you so much for the answer.
does the debit have to be international or indian debit card would work for sending money to australia.
For a transfer from India to Australia, you would send funds to Transferwise using your Indian bank via a local payment. You dont need an international debit card.
Thanks for the video, CN TV. I came to it because my supplier in the US suggested I use TW, which is new to me. My need and question might be similar to those posted below by phoenixbluex and Thomas Begin. I'm in Canada and want to pay the US supplier. The wrinkle is the money is already in US$, held in a Cdn bank. I don't want to convert currencies, just move the money into the recipient account. Can I do that via a TW transfer? Or can I move US$ from my Cdn main street bank into a TW borderless account, and then pay the supplier from that? Appreciate your insight into this!
You may be able to send USD to Transferwise using a SWIFT wire transfer. But since you dont need currency conversion, you will pay the same fees on your bank's side transferring to TW's USD account in the USA as you would transferring directly to your supplier in the US.
I love this service. It works!
ua-cam.com/video/mnIUPO2N_Z8/v-deo.html
Do you know if i can use transferwise if i need to send money from my bank account in Tbilisi-Georgia? And can i send money to a bank in Lebanon? Thanks!
See links in description for supported countries. I dont see Lebanon on the list at the moment unfortunately.
How about withdrawing money from my canadian bank using transferwise and send it to Europe?
As long as you have a bank account in Europe to receive the money, you can send money from Canada.
I would like to know the steps required to receive money. What does the Sender need to know to get money to me.
Hi, great video, I love Transferwise. It has changed my International life and especially helped in Covid times. One question, any idea how to amend an existing payee's details ? I need to change an email adress of the payee and trying to avoid deleting the payee and resetting up. Thanks.
hey, you can email TW directly and they'll change it for you
How many days transfer wise will take to refund money if we have cancelled the transaction ? Please help me out ...
You should get in touch with Transferwise customer service.
Thanks for the vid. But am I able to transfer from Transferwise to Payoneer?
I'm not familiar with all the details with Payoneer, but from checking their website it seems like they give you local bank details similar to TransferWise's Borderless Account. In theory you could use your Payoneer bank details as your recipient for a TW money transfer.
@@CreativeNomadTV Thanks