TransferWise let’s you transfer money overseas cheaper than with your bank

2 mins read

TransferWise is one of the best ways to transfer money cheaper.

With TransferWise you no longer have to suffer the baffling bank charges you get using bank wire. TransferWise packages virtually eliminates high bank fees on transactions making it the best and reliable way to get your money sent as you require.

How TransferWise works

What TransferWise does is that it finds someone who wants to convert their pounds to Euros and then match the person up with their service.

This happens automatically and you will be matched with somebody that wants to transfer money in the opposite direction. This therefore cuts down on the charges that is accrued using bank wire as the system will automatically match the currency flows at the real mid-market exchange rate (as you would find in newspapers or at xe.com ) and then pays out from the local euro or pound account.

This works because the money never actually moves across borders thus will help avoid traditional banking fees altogether by your local bank.

Traditional banking has an unfair rate which you will not want to loose money doing that and that is why you should try TransferWise.

How to transfer money using TransferWise.

1. Visit TransferWise.com

2. Type in your bank details and the recipient details

3. Input how much you want to transfer

4. Type in your debit card details or use online banking app to send the money to TransferWise.

5. You will receive a confirmation email that shows your money has been sent to TransferWise.

6. You will receive a second email that confirms the success of the transfer to the recipient you input.

Note: TransferWise transactions happen in a day unlike traditional banking that may take 2 to 3days.

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