Wise Reviews & Insights

Score9.4 out of 10

43 Reviews and Ratings

Community insights

TrustRadius Insights for Wise are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Easy-to-use Platform: Users have consistently found the platform to be easy to use, intuitive, and user-friendly. Many reviewers have stated that they didn't encounter any difficulties or complications during the transfer process. The visually appealing user interface and easy navigation further contribute to a positive user experience.

Low Fees and Transparency: Reviewers appreciate the transparency and low fees offered by the platform. They find it to be a cost-effective solution for their money transfers, especially compared to traditional banks. Many users have mentioned that the platform provides accurate conversion rates and doesn't have any hidden fees, making it a reliable choice for their financial transactions.

Timely Completion of Cash Transfers: The timely completion of cash transfers is frequently mentioned as a positive aspect by users. They are satisfied with the speed at which their transfers are processed and receive their funds promptly. This reliability in transferring money contributes to a positive overall experience for users.

Wise Reviews

2 Reviews

Enterprises (1,001+ employees)

Worked very well for me, verification process could be better

Rating: 10 out of 10

Incentivized

April 18, 2022

Use Cases and Deployment Scope

I started using Wise by reference from a client from the US (back when it was named TransferWise). As I am a freelancer I needed to get paid by clients from different countries, and as PayPal still isn't allowed in Bangladesh, I was using Payoneer mostly. That was a problem and as a result, I was in search of some alternates to go along with Payoneer. And, there was Wise! Helped me to get paid by a few of my clients to directly my bank account.

Pros

Direct Bank Payments
Faster than most other
Lower fees

Cons

Verification process is weird
Depositing amount could be tough
They don't allow a lot of cards, weird

Likelihood to Recommend

Wise is well suited for me, for people from Bangladesh who have a lesser number of options as Bangladesh don't have things like PayPal or Venmo. Probably won't be as effective as it is for us for people from other countries. Also, the verification process hampers its effectiveness for people from Bangladesh too.

Faisal Ahmed

Frontend Web Developer in Information Technology at Upwork (Internet, 10,001+ employees)

Vetted Review

4 years of experience

View profile

Money without borders...

Rating: 10 out of 10

Incentivized

March 13, 2019

Use Cases and Deployment Scope

I live in Brazil, and sending money abroad has always been a hassle. Besides the bureaucracy, there are these expensive taxes for sending the money. Transferwise solves these problems beautifully. Right now, I am living in the Netherlands as a visiting scholar, sent by my institution in Brazil. Since I receive my monthly payments into a bank in Brazil, Transferwise allows me to effortlessly transfer the money to my Dutch account. The money arrives very quickly and, most importantly, Transferwise's taxes are significantly lower in comparison with those of regular banks. In addition, while in bank transfers you only know the exact value of the taxes after the transaction, in Transferwise the amount is clearly stated from the beginning, avoiding unpleasant surprises.

Pros

It makes really quick transactions. You can transfer money to any personal account abroad really fast.
Transferwise charges very little for their service, in comparison with regular bank transfers and traditional providers as Western Union.
It shows the charges for the transaction up front. Such a cost is fixed, avoiding unpleasant surprises afterward.

Cons

TransferWise (at the time of this review) does not allow one to transfer money to all kinds of business accounts. This can be a limitation for people who want to use it as a way to pay directly for goods and services.
Sometimes it has problems with some credit cards. But the most popular types are accepted without problems.
TransferWise accepts fewer currencies than other services. But it seems like this is a temporary problem, and the company is making efforts to support transferences to all of the currencies.

Likelihood to Recommend

TransferWise is a practical way of paying employees abroad.
It can be used to pay for services and goods (but in most cases, the receiver must have a personal account).
Since most of the banks charge a small monthly fee for keeping an account active, TransferWise can be a cheap and fast way to make small transfers, helping people who need to maintain bank accounts in different countries.

Marcelo de Vasconcellos

Senior Visual Designer in Research & Development at Oswaldo Cruz Foundation (Fundação Oswaldo Cruz) — Fiocruz (Research, 10,001+ employees)

Vetted Review

1 year of experience

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Money without borders...

Rating: 10 out of 10

Incentivized

March 13, 2019

Use Cases and Deployment Scope

Pros

It makes really quick transactions. You can transfer money to any personal account abroad really fast.
Transferwise charges very little for their service, in comparison with regular bank transfers and traditional providers as Western Union.
It shows the charges for the transaction up front. Such a cost is fixed, avoiding unpleasant surprises afterward.

Cons

TransferWise (at the time of this review) does not allow one to transfer money to all kinds of business accounts. This can be a limitation for people who want to use it as a way to pay directly for goods and services.
Sometimes it has problems with some credit cards. But the most popular types are accepted without problems.
TransferWise accepts fewer currencies than other services. But it seems like this is a temporary problem, and the company is making efforts to support transferences to all of the currencies.

Likelihood to Recommend

Marcelo de Vasconcellos

Senior Visual Designer in Research & Development at Oswaldo Cruz Foundation (Fundação Oswaldo Cruz) — Fiocruz (Research, 10,001+ employees)

Vetted Review

1 year of experience

View profile