How to Send Money with Wise: A Complete Guide to Fast, Affordable International Transfers

Imagine this: your sister in Canada needs urgent funds for tuition, or a friend in the UK faces an unexpected medical bill. You want to help, but traditional bank transfers hit you with sky-high fees and confusing exchange rates. That's where Wise steps in – a smarter way to send money internationally without the headaches.

If you've ever felt frustrated watching banks chip away at your hard-earned money through hidden charges, you're not alone. Wise was built specifically to solve this problem, offering transparent pricing and real mid-market exchange rates that actually make sense.

In this guide, we'll walk through everything you need to know: how Wise works, what it costs, how long transfers take, and why millions of people trust it for their international payments. Whether you're sending money for the first time or looking for a better alternative to your bank, you'll find practical answers here.

What Makes Wise Different from Traditional Banks?

Wise launched in 2011 with a simple mission: make international money transfers fair and transparent. Unlike banks that add hidden markups to exchange rates (sometimes 3-5% above the real rate), Wise uses the mid-market exchange rate – the same rate you see on Google or financial news sites.

Here's how traditional banks often work: they advertise "no fees" but secretly inflate the exchange rate. You might think you're getting a deal, only to lose hundreds on a large transfer. Wise flips this model by showing you exactly what you'll pay upfront, with no surprises.

The platform now serves over 170 countries and handles transfers in more than 50 currencies, from US dollars and euros to Indian rupees and Japanese yen. What started as a solution for expatriates has become the go-to choice for freelancers, businesses, and families sending money across borders.

Setting Up Your Wise Account in Minutes

Getting started is straightforward. First, visit the Wise website or download the mobile app (available for both iPhone and Android). The signup process asks for basic information: your email, a secure password, and whether you need a personal or business account.

Here's where it gets important: identity verification. For security and regulatory compliance, you'll need to upload a valid ID – a passport, driver's license, or national ID card works. This one-time step might seem like extra work, but it protects both you and the recipients of your transfers.

Once verified, link your bank account. This allows you to fund transfers and receive money when needed. The whole setup typically takes under 10 minutes, and you're ready to make your first transfer.

If you're wondering whether international money transfers could be simpler and more affordable, 👉 check out how Wise is changing the game with transparent fees and real exchange rates.

How to Send Money Through Wise: Step-by-Step

Let's walk through an actual transfer. Say you need to send $1,000 to a friend in Germany.

Step 1: Log into your Wise account through the app or website. The dashboard is clean and intuitive – no confusing menus or buried options.

Step 2: Enter the amount you want to send and select the recipient's currency. Wise instantly shows you the exchange rate, fees, and exactly how much your recipient will receive. No guessing games.

Step 3: Add your recipient's details. You'll need their full name, bank account number (or IBAN for European accounts), and country. Wise saves these details for future transfers, making repeat payments even faster.

Step 4: Choose how you want to pay. Options include bank transfer (usually cheapest), debit card, credit card, or even Apple Pay in some regions. Each method has different speeds and costs, clearly displayed.

Step 5: Review everything one last time. Check the exchange rate, total fees, and delivery estimate. When you're satisfied, confirm the transfer.

Step 6: Track your money in real-time. Wise shows you exactly where your transfer is in the process – whether it's being processed, converted, or delivered to your recipient's bank.

Transfer Speed: How Long Will It Take?

Speed varies based on several factors: the currencies involved, your payment method, and the recipient's bank.

For same-currency transfers (like USD to USD), money often arrives within minutes, especially if you pay by card. When you're converting currencies through bank transfer, expect 1-2 business days for most major currency pairs like USD to EUR or GBP to AUD.

Some routes take longer – typically 3-5 business days – particularly to countries with slower banking infrastructure or less common currency pairs. Public holidays can add extra time, and incorrect recipient details will definitely cause delays (so double-check those account numbers).

The Wise app provides estimated delivery times before you confirm, so you'll know what to expect. In our experience, Wise usually hits or beats these estimates.

Understanding Wise Fees: What You'll Actually Pay

Here's where Wise really shines: complete transparency. The fee structure has two parts.

First, there's a small fixed fee that covers operational costs. This varies by currency – for example, sending USD might have a $4 fixed fee, while sending GBP might be £0.50.

Second, there's a percentage fee (usually 0.35% to 2% of your transfer amount) that depends on the currency pair. Popular routes like USD to EUR tend to have lower percentages, while less common currencies might cost slightly more.

Let's look at a real example: sending $1,000 to Germany might cost around $5-7 in total fees, and your recipient gets approximately €920 (assuming current exchange rates). Compare that to a traditional bank that might charge $30-50 in fees PLUS give you a worse exchange rate, and the savings add up quickly.

For anyone managing frequent international payments – whether for business, family support, or freelance work – 👉 discover how Wise delivers better exchange rates and lower fees than traditional banks.

International Transfers: Wise's Global Reach

Wise supports transfers to over 170 countries, covering virtually every major destination. Whether you're sending money to family in India, paying contractors in the Philippines, or supporting friends in Brazil, Wise has you covered.

The platform handles more than 50 currencies, including all the major ones (USD, EUR, GBP, CAD, AUD, JPY) and many regional currencies. This broad coverage means you can often send money directly in the recipient's local currency, avoiding multiple conversions and extra fees.

What sets Wise apart is using local bank accounts in each country. When you send money from the US to the UK, for example, Wise doesn't actually move your dollars across the Atlantic. Instead, it uses your USD payment to fund a GBP payment from their UK account. This "local-to-local" system is why transfers are faster and cheaper than traditional international wire transfers.

Safety and Security: Can You Trust Wise with Large Amounts?

Security concerns are natural when moving money online, especially large sums. Wise takes this seriously with multiple layers of protection.

First, Wise is regulated by financial authorities in every country where it operates. In the US, that's FinCEN. In Europe, it's overseen by the FCA in the UK and other national regulators. These licenses mean Wise must follow strict rules about handling customer money.

Your funds are protected by bank-level encryption – the same technology major banks use. Every transaction is secured with 256-bit encryption, making it virtually impossible for hackers to intercept your data.

Wise also requires two-factor authentication for all accounts, adding an extra security checkpoint beyond just your password. Even if someone got your login credentials, they couldn't access your account without your phone.

For large transfers, Wise keeps customer funds in separate accounts from their operating capital. If something happened to the company, your money would be protected. They're also transparent about their insurance coverage, which varies by country but generally covers the full transfer amount.

Transfer Limits: Minimum and Maximum Amounts

Wise accommodates both small and large transfers, though limits depend on several factors.

Minimum amounts are remarkably low – you can send as little as $1 in some currencies. This flexibility makes Wise practical even for small, frequent payments like splitting bills with international friends or paying small invoices.

Maximum limits vary significantly based on your country, the destination, chosen payment method, and local regulations. For example, US users can typically send up to $1 million USD in a single transfer, while card payments might cap at $15,000. Bank transfers generally allow higher limits than card payments.

Some countries impose regulatory restrictions that Wise must follow. If you need to send very large amounts, the platform might require additional verification or documentation to comply with anti-money-laundering rules.

The good news? You can check your specific limits directly in the Wise app before starting a transfer. Just enter the amount and currencies, and Wise will tell you if you're within acceptable ranges.

Getting the Best Exchange Rate

The exchange rate Wise offers is the mid-market rate – essentially the "real" exchange rate without markup. This is the rate banks use when trading with each other, and it's what you see on Google, Reuters, or Bloomberg.

Banks typically add 3-5% to this rate as hidden profit. On a $10,000 transfer, that could mean losing $300-500 just from the exchange rate markup, before any stated fees. Wise charges the same transparent fee whether you're sending $100 or $100,000, and the exchange rate stays fair.

Pro tip: If you're not in a hurry, use Wise's rate alert feature. Set your target exchange rate, and Wise notifies you when the market hits that level. Then you can lock in the rate for up to 48 hours, protecting yourself from unfavorable fluctuations.

The rates update constantly to reflect real-time market changes, so what you see when you start a transfer is what you'll get (unless you pause and come back later).

Tracking Your Transfer in Real-Time

Once you've sent money, wondering "where is it now?" is natural. Wise eliminates this anxiety with detailed tracking.

The platform breaks your transfer into clear stages: "We're processing your payment," "We're converting your money," "Your money is on its way," and "Your transfer is complete." You'll receive email updates at each stage, and the app shows real-time progress.

If there's any delay or issue – say, the recipient's bank needs additional information – Wise alerts you immediately with clear instructions on what to do next. No calling customer service and waiting on hold to figure out what's happening.

This transparency extends to your recipient too. They can see when money is about to arrive in their account, helping them plan accordingly.

Why Choose Wise for Your International Transfers?

After exploring how Wise works, the advantages become clear. You get honest exchange rates without hidden markups, transparent fees that are often 3-8 times cheaper than banks, and speeds that rival or beat traditional services.

The platform is user-friendly whether you're tech-savvy or not, with clear instructions and helpful support if you get stuck. Security measures match or exceed what major banks offer, and the regulatory oversight provides peace of mind.

For regular international transfers – whether you're supporting family abroad, running a business with overseas clients, or traveling frequently – Wise saves both money and hassle. Those savings compound quickly when you're making multiple transfers throughout the year.

Ready to experience international transfers without the usual frustration and fees? The setup takes just a few minutes, and your first transfer will show you exactly how much you've been overpaying with traditional methods. No more surprise charges, no more confusing exchange rates – just straightforward, affordable money transfers that actually make sense.