Why Transferwise is The Best service for Online Money Transfer?

July 10, 2019

by Abdel Aziz Elbadry

PayPal is one of the best payment methods for both freelance beginners and professionals, because of its ease of use and its speed of conversion, in addition to the security and protection that is characterized by this service.

But in the last few years, the Transferwise online banking service has emerged as an alternative with lower fees and more flexibility for receiving money in other currencies.

If you are a traveler, the best way to transfer and spend money while abroad is Transferwise. When a debit card is available on a larger scale, Transferwise has the potential for real change for travelers and online businesses alike.

What is Transferwise?

The Estonian Transferwise Bank established in 2011 with the aim of making the transfer of funds in all countries of the world and the conversion from one currency to another currency very easy, in addition to the provision of deductions by the banks from the fees of the transfer and currency conversion fees and other high fees, Using Transferwise bank, you will pay less than eight times what the banks get. In addition to these wonderful features, the Transferwise bank offers many other features that have made it grow at lightning speed, with more than 3 million users and more than £ 2bn a month through the bank. Currently, the online banking service provides a Transferwise Borderless account for travelers that can be used to receive funds in more than forty different currencies.

Transferwise

Most of you do not know about this famous online banking service created by Skype developers and supported by Richard Branson. You may prefer this site in your transactions for lower fees and taxes than PayPal.

Advantages of Transferwise

  • An ideal choice for transferring funds to different countries over the Internet.
  • The cheapest service is currently available to transfer money in different currencies.
  • The fastest service to transfer money globally in a very short time.
  • One of the easiest online banking to deal with and use is free of complexity.
  • Accurate currency conversion rate calculation so that transactions are accurate.
  • Money can be easily transferred through the Smartphone via Transferwise.
  • The site provides a debit card that can be used to withdraw money easily.
  • Transfer your money with the highest conversion rate between currencies and the cheapest commission at the fastest time.
  • Get money from more than 40 countries and 20 different currencies around the world.

How to Register in the Transferwise Bank

You can create an account and use all available features even if your country is not supported, where you can do transactions that are completed online and through international bank cards.

Enter the registration page and click Sign Up

Transferwise Sign Up

Write your email and create a strong password

Write your email and create a strong password.

Now go to your email and click on the activation link.

Now go to the email and click on the activation link.

 

Then you have to go to your profile to write your data, click as in the picture and then click Create Profile.

TRANSFERWISE PERSONAL INFO

Write the required data correctly and press Save.

 

How to activate a Transferwise account

You must activate your account in the bank, especially if your financial transactions are many and scattered among several countries, the bank may ask you to upload documents to prove your identity. Therefore, it is best that you activate your account, also if you want to transfer amounts greater than €1,000 in the transaction you must activate your account. You can activate the application at any time, even if you do not exceed the transaction limit.

From the Settings arrow, click Verification.

VERIFICATION

You will only be redirected to this page by clicking Start ID check.

TRANSFERWISE ID

Click on Start ID Verification.

TRANSFERWISE ID VERIFICATION

 You will be assured of your country and press the Passport option to activate.

TRANSFERWISE ID VERIFICATION IDENTITY

Now you will upload a copy of the passport either from the computer or by taking a picture through the camera.

 

How to transfer money through the Transferwise Bank?

You can transfer funds easily and in different currencies to any country through the service provided by the bank, you can send money and receive it, the bank gives you your bank account information you can use to receive remittances from anywhere and all currencies supported by the site and the same when sending money to someone else.

 

Abdel Aziz Elbadry

By Abdel Aziz Elbadry

Hi, I am a pharmacist. I am an experienced writer in health, beauty, nutrition, and natural remedy contents. Compatible with the SEO basics and written in a simple language. Relying on keywords and using external links from documented medical references. Leading to being on the first page of Google engine. I love to learn, I have 13 years of experience in the medical field.

Read more at abdelazizelbadry.com

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