TransferWise is a online company that allows you to transfer your money all over the world. You give the money to TransferWise's UK-based account in pounds, the equivalent amount in BDT is then forwarded from the euro account of TransferWise to the beneficiary.
This smart system means that money never actually crosses borders and the adjustment is made at the real mid-market exchange rate, this way, customers can absolutely escape conventional bank charges and they do not risk their money by paying unfairly. Transaction costs are always transparent, unlike some other providers which add a markup to the real exchange rate in addition to their fees. TransferWise international payments are done in 24 hours. Also They are suitable for both business and personal use.
TransferWise also has a border-less account. Like a multi-monetary account, it allows you to hold over 40 different currencies and to send and spend money around the world easily through your MasterCard.
Is there any negative side of TransferWise?
Well, every system has its own benefits as well as some drawback. Like, TransferWise's phone support is not much available and they are not instantaneous. You will need some time to complete a transaction properly.
So, the final part which is the steps of transferring money overseas using TransferWise.
Our TransferWise Trust Score
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TransferWise is an excellent choice for transfers of foreign currency. They're known for their fantastic customer service, have outstanding Trustpilot ratings and offer fast transfers. We have made this trust score based on several key points.
Steps to Transfer my Money by Transfer-Wise
To transfer your money overseas, you need to create an account first to TransferWise. You can transfer internationally upto $500 for completely free by creating account from a invite link.
- Step 1: Create an account by clicking HERE.
- Step 2: Set your account.
- Step 3: Provide personal or business details (For first time, You won't need to provide these details second time). Information includes name, date of birth and residential address etc.
- Step 4: Fill up recipient account details. This details are the bank account details of the person to whom you want to send your money.
- Step 5: Verify your identity by uploading your passport or driving license in the following page.
- Step 6: In the next page, chose an option from which you will pay your money. It could be MasterCard or local bank transfer.
Complete your payment and wait 24-48 hours to complete your overseas transfer. HOLA, now you have completed your first ever overseas transfer.
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