EFASAND: All you need to know before sending money with TransferWise.com

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Tuesday, 4 December 2018

All you need to know before sending money with TransferWise.com

In January 2011 Kristó Käärmann and Taavet Hinrikus, with head offices in London and offices in various towns including Tallin, New York and Singapore, launched TransferWise in Estonia, Germany, and the UK. TransferWise supports and delivers multi-currency accounts in over 300 currency routes worldwide.

Including major companies IA Ventures and Index Ventures, IJNR Ventures, NyPPE, PayPal's co-founder, Mr Max Levchin, former CEO of Betfair, Mr David Yu, and the Wonga.com co-founder, Errol Damelin.[30] TransferWise was also granted seed funding of $1,3 million.[31] TransferWise was also awarded investment after having been named one of the winners of Seedcamp 2011.
TransferWise is an innovative international money transfer provider often known as the money transfer industry "Robin Hood." They are working to increase banking transfers to the lowest and transparent transfers fee and turn the money into the true mid- market exchange rate than traditional banks. 
That is to say, the exchange rate is zero markup. TransferWise currently supports sending money from 71 countries and sending money from 43 countries.( Banks usually give customers an over- market rate, the mark is part of their taxes, and they are not generally transparent about it.) The company covers more than 1000 routes across 49 countries.
Most TransferWise- supported currencies have one option: transfer from bank to bank. You can either pay with debit cards and credit cards or use a SOFORT transfer option for certain currencies. The TransferWise iOS and Android applications also make Apple Pay or Android Pay available for certain currencies. In most cases, the beneficiary receives the money in one to two working days.
For international transfers, TransferWise is a top choice. They are well known for their excellent customer service, their fiduciary driver reviews and fast transfers. And the cake's cherry? They also provide a spectacular experience for users, from easy registration to efficient transfer services, as evidenced by a detailed UX analysis of TransferWise 's first thoughts. Some people thought it's too good to be true. They were so impressed. Yeah, well, but true too! Since 2011, they have experienced massive growth and are a highly competitive disruptor of the traditional cash- transfer model.
What we like about TransferWise (positive review)

You will get conversation rate at mid market price.
The only detect in transfer wise is that you can only transfer to respective bank account.

How TransferWise.com

works for consumer(overview)

Create an account

Sign up In transferwise.com can be doen in only some click, or you can sign up through Facebook or gmail.

the verification process

You should have to submit your IDs as like Dl, adhar card  like other wallet.

Set up your transfer option

You have to provide your CIF and account number, in which you want your money to be transferred.

Send the money

You should choose to whom and which currency can be transferred.

Transfer fees cut by transferwise.com
1. GBP (British Pound) to EUR (Euro), you will pay 0.35% of the transfer amount with a fee of £0.80.
2. The reverse, EUR (Euro) to GBP (British costs 0.5% of the transfer amount with a flat fee of €2.
3. Sending DKK (Danish Kroner), to Euros will cost you 0.5% of the transfer amount on the initial DKK 50,000 and 0.3% on anything over that amount.
Exchange rate to be offered by transferwise.com
The transferwise.com exchange on mid price rate of the day.
The list of TransferWise currencies with restrictions for sending from or to a business account are the following: GBP, EUR, CHF, PLN, DKK, NOK, SEK, BGN, CZK, GEL, HUF, RON, IDR, KRW, LKR, MYR, PHP, CNY, SGD, THB, AED, COP, MAD, MXN, ZAR, VND.
Helpful Tools provided by transfer wise.com

TransferWise provides you with some useful tools. The TransferWise alert tracker can assist you in monitoring the development of the midmarket currency, and daily rate notifications can be received, when the midmarket rate is at a given level or when it is up to two weeks. You can easily find and verify SWIFT / BIC code of banks around the world with TransferWise SWIFT / BIC, to ensure that you enter the right information when you set up your money transfer. Lastly, the currency converter TransferWise allows you to convert one currency at the true exchange rate into another.

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