Wise.com Bonus: Free Transfer & $75 Referral Offer Promotion

Find updated Wise (wise.com) promotions and bonus offers here.

Wise (formerly Transferwise) is a service that offers cheap and easy international money transfers. The company has a mission to send money around the world with low and transparent fees at true mid-market exchange rates.

The service is so popular, customers send over $1 billion each month using Wise. You can send money to 70+ countries and receive money from 40+ countries, with over 1,000 country combinations across 49 currencies.

Also, see promotions for Cash App, Remitly and Ria. See all money transfer service offers here.

Wise Promotion: Free International Transfer Offer

Use our referral link below (thanks ahead of time!) to get a free international transfer of up to £500.

Once you have an account open you can start making referral bonus money as well.

READ MORE: THIS BANK OFFER IS TRENDING RIGHT NOW

Wise Bonus: Invite 3 Friends & Earn A $75 Bonus

Once you have an active account, you can start making referrals to earn bonus money. Invite 3 friends to earn a $75 bonus.

• Log into your Wise account
• Go to “Invite & Earn $75 USD”
• Invite friends using your personal invite link or invite via email
• Your referrals get a free international transfer of up to $500
• When 3 of your invites all transfer over $300, you’ll earn a $75 bonus

See the terms of their referral program here.

READ MORE: CUSTOMERS ARE GETTING BONUS MONEY FROM BANK OF AMERICA

Wise: In a Nutshell

Sending Channels	Website & mobile app
Payment Options	Bank account only
Delivery Options	Bank account only
Minimum Transfer Limit	None
Maximum Transfer Limit	$10,000/transfer to $1 million/transfer, depending on origin and direct deposit vs wire

READ MORE: READ THIS FIRST IF YOU’RE LOOKING FOR A FREE CHECKING ACCOUNT

Wise: How It Works

Wise’s novel approach to currency exchange circumvents the middle man, which lets the company charge a whole lot less than its industry peers. How does Wise do it?

The company stores stockpiles of different currencies across the globe. When you send $1,000 USD to a friend in Canada, Wise adds your $1,000 to its USD stockpile, then pays your friend the equivalent in Canadian dollars from its Canadian dollar stockpile.

This method eliminates the need for costly third-party banks, so Wise can offer its service at exactly the bank rate and nothing more. Trust me, you won’t find a better deal than that.  

Borderless Accounts

Also known as multi-currency accounts, borderless accounts let you hold money in over 40 currencies and convert them when the mid-market exchange rate is favorable to you. It’s like having different local bank accounts around the world in one tidy online account.

When you sign up for a borderless account, you’ll also get a personal account number and bank details, along with a Wise debit Mastercard. With this account, you’ll be able to receive money, without having to pay fees, from over 30 countries.

READ MORE: SMALL BUSINESS OWNERS ARE LOVING THIS BONUS OFFER

Wise Fees

With Wise, you know exactly how much you’ll pay in fees every time you make a transfer, thanks to its fully transparent fee structure. Just to let you know, this is not the industry standard.

For most currencies, the company also guarantees the exchange rate, so you also know exactly how much your recipient will receive. While other banks will guarantee their exchange rates as well, their rates are often much higher.

Wise charges a percent of the transfer amount, and a flat fee for certain country combinations. The actual numbers depend on the currency you are sending from and to, and certain fees vary depending on the transfer amount. 

Exchange Rate

Wise will convert your money using the true mid-market rate when they receive and process your funds. That’s the absolute best rate you will get with any money transfer service provider.

Wise will even lock your exchange rate for a certain time frame: 24 hours for most countries, 48 hours for all others, except Brazil (72 hours). This locked-in rate is also known as guaranteed rate. Please note, Wise must receive your funds within the allotted time frame, or else the amount the recipient will receive is no longer guaranteed.

Bottom Line

Navigating the maze of international money transfers can be a daunting task, and in my experience, Wise has been a reliable tool in my arsenal.

As a small business owner, it has helped fill the gaps where my bank fell short on international transfers. Its high ratings on TrustPilot give some confidence, but let’s not put on rose-colored glasses – not all experiences with Wise are stellar.

I’ve seen users reporting on Google Business and other platforms about Wise holding onto their funds for extended periods, even to the tune of tens of thousands of dollars. Some accounts were closed, with Wise claiming they couldn’t track the money, and resolving these issues could turn into a lengthy back-and-forth process. It’s not all sunshine and rainbows, but then again, no business is perfect.

On the flip side, I’ve seen a great number of positive experiences, much more than the negatives. Many users have been using Wise for years for their business needs, moving large sums without any hitch. It’s also a game-changer for paying international staff, with instant transfers and competitive rates, especially for smaller, more frequent transfers.

From my personal experience, Wise has been a great asset, particularly with their Balances feature where I can open multiple currency accounts. It’s been great in my travels across Southeast Asia, offering quick and seamless currency conversions at real exchange rates. Additionally, Wise has consistently offered me better rates than my bank, a difference that adds up substantially over time.

On a similar note, I can’t neglect to mention my other go-to money transfer provider, Remitly. Both Wise and Remitly have served me well in my international financial needs.

While Wise isn’t without its faults, the sheer convenience, competitive rates, and overall positive user experiences make it a compelling choice for international money transfers. Remember, every coin has two sides, and while it’s essential to take into account the negative experiences, they seem to be more the exception than the rule.

In the grand scheme of things, Wise’s advantages seem to outweigh the potential pitfalls. But ultimately, what works best is highly personal, depending on your needs and circumstances.

As always, do your research, weigh the pros and cons, and make an informed decision. That’s been my approach, and it’s served me well.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.