Wise (formerly TransferWise)
The cheap, fast way to send money abroad.
Overview
Wise is a money service business that provides international money transfer services at the mid-market exchange rate. It offers a multi-currency account that allows users to hold, manage, and spend money in dozens of currencies. Wise is particularly well-suited for nonprofits and businesses that operate internationally, enabling them to receive donations and make payments globally with transparent, low fees.
✨ Key Features
- International Money Transfers
- Multi-currency Account
- Business Debit Card
- Batch Payments
- API Integration
- Mid-market Exchange Rate
🎯 Key Differentiators
- Use of the mid-market exchange rate with no markup
- Transparent and low transfer fees
- True multi-currency account with local bank details in multiple countries
Unique Value: Offers transparent, low-cost international money transfers by using the real mid-market exchange rate, saving organizations significant money on cross-border transactions.
🎯 Use Cases (4)
✅ Best For
- Low-cost international transfers for nonprofits operating on a global scale.
- Supports charities and trusts in the EEA, Canada, US, Switzerland, Australia, and New Zealand.
- Partnership with the International Rescue Committee (IRC) to support crisis response.
💡 Check With Vendor
Verify these considerations match your specific requirements:
- Complex accounts payable automation
- In-person donation collection
🏆 Alternatives
Significantly cheaper and more transparent than traditional banks and competitors like PayPal for currency conversion and international transfers.
💻 Platforms
🔌 Integrations
🛟 Support Options
- ✓ Email Support
- ✓ Live Chat
- ✓ Phone Support
- ✓ Dedicated Support (N/A tier)
🔒 Compliance & Security
💰 Pricing
Free tier: No monthly fees, but fees apply per transfer.
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