Wise for International Money Transfers: The Smartest Way to Send Money Abroad

Looking to send money overseas without getting hit with ridiculous fees? You're not alone. Traditional bank transfers can feel like highway robbery with their hidden charges and terrible exchange rates. That's where Wise comes in.

Wise (formerly TransferWise) has become the go-to solution for international money transfers, and for good reason. It's fast, it's cheap, and it actually uses the real exchange rate you see on Google. No markup, no surprises.

If you've been eyeing Wise but feeling a bit intimidated by the setup process, don't worry. This guide walks you through everything from registration to your first transfer, with all the details you actually need to know.

Why Wise Beats Traditional Banks

Here's the thing about Wise: it doesn't work like regular banks at all. And that's exactly why it's better.

Traditional international transfers use the SWIFT network, which means your money bounces between multiple banks before reaching its destination. Each hop adds fees, delays, and complications. It's like playing a very expensive game of telephone with your money.

Wise uses a completely different approach. When you send money through Wise, it doesn't actually cross borders. Instead, Wise matches your transfer with someone sending money in the opposite direction. You deposit yen into Wise's Japanese account, someone in the US receives dollars from Wise's American account, and everyone saves a fortune on fees.

The result? Transfers that use the real mid-market exchange rate (the one you see on Google, not some inflated bank rate) with transparent, upfront fees that are typically 0.5-2% of your transfer amount.

For anyone regularly sending money internationally—whether you're supporting family abroad, paying overseas contractors, or managing expenses across countries—making the switch to a service like 👉 Wise can save you hundreds or even thousands per year compared to traditional bank transfers.

What You'll Need Before Getting Started

Before diving into Wise, gather these documents to make the registration process smooth:

For Japanese residents (including foreign nationals):

• My Number Card (マイナンバーカード) - This is the easiest option

• Alternatively: Japanese driver's license + My Number notification card or residence certificate

• For permanent residents: My Number Card, driver's license, or residence card

• For long-term visa holders: My Number Card and residence card

The key requirement for anyone living in Japan is your My Number. If you're using ID other than the My Number Card, you'll need to provide additional documentation showing your My Number and current address.

For overseas residents:

Things are simpler if you live abroad. Your passport and proof of current address are typically sufficient. No My Number required.

Quick tip: Have a smartphone with a camera ready. The identity verification process goes much faster when you can snap photos directly.

Step-by-Step: Your First Wise Transfer

Let's walk through actually setting up and using Wise. This looks long, but most steps take just seconds.

Getting Your Account Set Up

Step 1: Head to the Wise website and click "Sign Up"

Step 2: Enter your email address

Step 3: Choose "Personal Account" (unless you're sending for business purposes)

Step 4: Select your country of residence (Japan, in this case)

Step 5: Enter your phone number and verify it with the SMS code you receive

Step 6: Create a strong password for your account

Starting Your Transfer

Step 7: From your home dashboard, click "Send money"

Step 8: Enter the amount you want to send and select both currencies

Here's where Wise gets interesting. You can enter either the amount you want to send (e.g., 50,000 yen) or the amount you want the recipient to receive (e.g., $350). Wise instantly shows you the other amount, the exchange rate, and the fee.

The transparency is refreshing. No hunting for hidden charges—everything's right there.

Step 9: Choose your payment method

You can fund your transfer via bank transfer or debit card. Important: Credit cards aren't accepted for transfers from Japan.

For bank transfers, Wise provides you with Japanese bank account details. Simply transfer the money from your Japanese bank account (like you would pay any bill), and Wise handles the rest.

Completing Verification

Step 10: Enter your personal information carefully

Pay attention to name order (given name first in English) and address format.

Steps 11-23: Complete identity verification

This is where that smartphone comes in handy. The process involves:

• Selecting your ID document type (My Number Card is fastest)

• Taking photos of your ID (front, thickness, back)

• Taking a selfie while holding a paper with a 4-digit code

• If needed, uploading My Number documentation

The interface guides you through each photo clearly. Just follow the prompts.

You'll also answer questions about your intended use of Wise and estimated annual transfer amounts. Be honest—these are standard compliance questions.

Step 24: Review everything one final time

Double-check the recipient details, amount, and fees before confirming.

Step 25: Wait for your transfer to complete

Your first transfer takes a bit longer due to identity verification—typically around 3 business days. After that initial setup, future transfers are much faster, often completing within hours or the same day.

How Long Does Everything Take?

Sending money through 👉 Wise typically takes 1-2 business days once your account is verified, though some currency routes are even faster. The real time investment is in that initial setup—the identity verification can take up to 3 business days.

Think of it as a one-time investment. After your first transfer clears, you'll have access to fast, cheap international transfers whenever you need them.

Beyond Sending Money: Other Wise Features

While most people come to Wise for international transfers, the platform offers several other useful features worth knowing about:

Multi-currency account: Hold and manage 40+ currencies in one place. Great if you regularly deal with multiple countries.

Wise debit card: Spend in foreign currencies at the real exchange rate, with minimal fees. Perfect for travel or shopping on international websites.

Receiving money: Get local bank details for multiple countries, so people can pay you as if you had a local bank account.

These aren't necessary for basic transfers, but they're handy if your international financial life gets more complex.

Is Wise Safe?

Yes. Wise is regulated by financial authorities in every region it operates, including Japan's Financial Services Agency. Your money is held in safeguarded accounts separate from Wise's operating funds, meaning it's protected even if something happened to the company.

Wise is also publicly traded (on the London Stock Exchange), which means it faces intense financial scrutiny and transparency requirements.

Of course, you should still practice good security: use a strong password, enable two-factor authentication, and never share your login details.

Making International Transfers Work for You

The real beauty of Wise isn't just that it saves money—though it absolutely does. It's that it removes the anxiety from international transfers.

No more wondering if you're getting ripped off on exchange rates. No more surprise fees appearing days later. No more calling the bank to figure out where your money went.

Everything's transparent, trackable, and straightforward. You know exactly what you're paying, what the recipient gets, and when it'll arrive.

For anyone dealing with international money movement—whether you're an expat supporting family back home, a freelancer working with overseas clients, or just someone who needs to send money abroad occasionally—that peace of mind is worth more than the fee savings alone.

Ready to give it a try? The setup takes about 15 minutes, and that first transfer experience will probably make you wonder why you didn't switch sooner.