Wise Information 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.

Reviews

4 Reviews

Information

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

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Transferwise - Good and Hardworking Program

Rating: 7 out of 10

Incentivized

March 24, 2022

Use Cases and Deployment Scope

The organization used transfer wise to pay near-shored contractors.

Pros

Reliable payments
Low transfer charged
Easy to use
Good customer service

Cons

sometimes deposits money in strange and multiple intervals
sometimes has trouble working with certain banks

Likelihood to Recommend

The program works well for us transferring payments to those near shore on a bi-monthly basis. It was easy to set up and use. I do think that as the contractor base grew they had a harder time keeping up with the number of transactions at one time.

Adam Guenther

General Manager in Corporate at Porch Group (Internet, 501-1000 employees)

Vetted Review

5 years of experience

Good lightweight Forex platform

Rating: 8 out of 10

Incentivized

May 23, 2021

Use Cases and Deployment Scope

We use it to pay overseas contractors and vendors, reducing currency conversion and wire transfer costs. It's fast to set up and relatively painless to use. The recent addition of inline payment processing using Plaid has made it a much more complete solution.

Pros

Fast and simple to set up.
Reduced cost for overseas transfers verses traditional banks.

Cons

Volume discounts are only made on each transaction, not monthly values. You are penalized for many small transactions versus single larger ones.
Can be unintuitive to understand at first.

Likelihood to Recommend

Best suited for occasional international payments or smaller intercompany transfers (where an external Forex broker is too much hassle).

Hugh Geiger

CEO (Chief Executive Officer) in Corporate at Verbz Labs Inc (Computer Software, 11-50 employees)

Vetted Review

2 years of experience

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Great to manage online payments from enterprises for a SAAS product in USD

Rating: 8 out of 10

Incentivized

May 22, 2021

Use Cases and Deployment Scope

TransferWise has made it very easy to manage USD payments from companies around the world and also managing payouts to employees/ contractors. Incredibly helpful, fast, and easy to use. The transfer fees and conversion rates are nominal and the process is very easy to manage.

Pros

International transfers.

Cons

Integrations with Stripe/Quickbooks to plan would be nice to have.

Likelihood to Recommend

Suitable for receiving and sending large payments online in different currencies. We use stripe for smaller payments, but the transaction fees are very high for amounts more than $1000. For larger payments also, TransferWise charges a flat fee. Unfortunately, when sharing the transfer details with some companies, they do not accept them as a recognized bank—worked in most cases.

Bhavya Aggarwal

Founder (SAAS Product Head) in Corporate at zipBoard.co (Internet, 11-50 employees)

Vetted Review

1 year of experience

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