Wise: Transferwise's New Identity
The FinTech giant Transferwise is now called
Wise since February 2021. This change accompanies an expanded product offering that goes beyond simple international money transfers.
A new look, but still the same goal:
helping people manage their money across borders more economically, quickly, and transparently.
“Our customers need much more than simple money transfers,” explains Kristo Käärmann, co-founder and CEO.
“Sending, spending, and receiving money internationally is too expensive, slow, and inconvenient. We want to provide solutions for individuals and businesses.” With this in mind, they decided to give their brand a new lease on life by moving away from its former identity.
Wise is a financial technology company (FinTech) based in London. It was launched in 2011 by two Estonians, Kristo Käärmann and Taavet Hinrikus, with the aim of making international money transfers cheap, fair, and simple. Today, its multi-currency accounts help more than 10 million individuals and businesses manage their money around the world. Here is how they got there:
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Price - using Wise for international transactions is up to 8 times cheaper than using a traditional bank. Wise always uses the mid-market exchange rate and charges low upfront fees.
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Security - Wise is regulated like any bank by the financial authorities in every country where it operates - such as the United States, for example.
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Speed - more than 30% of transfers with Wise arrive instantly. 53% of all transfers arrive within an hour and 81% of all transfers within a day.
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Currency and country coverage - Wise allows customers to hold, spend, and send money in more than 50 different currencies, yes, 50!
With Wise, the more money you transfer, the more you save
Wise can be used by everyone, from freelancers to financial investors and businesses.
If you receive payments in different currencies from clients located all over the world, then the
multi-currency account created by Wise is made for you!
It's simple. You get local bank details in countries such as the United States, Australia, and Europe, then receive those currencies as local currency.
Wise helps you save money by charging a small percentage of the transaction, rather than charging credit card transaction fees or high bank transfer fees.
Wise is the best tool for sending and receiving money internationally with low fees.
