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.
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
Write your email and create a strong password
Now go to your 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.
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.
You will only be redirected to this page by clicking Start ID check.
Click on Start ID Verification.
You will be assured of your country and press the Passport option to activate.
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.