Let’s talk about the Wise Multi Currency Account, previously known as the Transferwise Borderless Account. This account has saved me over $10,000 USD in just one year! If you’re someone who lives abroad, travels frequently, or needs to send money internationally, this account is a game-changer.
The Wise account has revolutionized how we manage money when dealing with international transactions. It’s put an end to the days of banks charging exorbitant fees and offering terrible exchange rates. With Wise, you can send money internationally at a fair rate, spend money in foreign countries without getting ripped off, and avoid dealing with greedy banks back home.
The main advantage of a Wise account over a traditional bank account is the ability to manage your money without borders. You won’t have to deal with international transaction fees or outrageous exchange rates. With Wise, you always get the real exchange rate and low fees.
Wise, formerly known as Transferwise, is a platform that allows people to send and receive money internationally at real exchange rates with super low fees. It’s used by over 10 million people in more than 170 countries every day. I personally use it weekly in Thailand and beyond.
Wise was set up over a decade ago by the creators of Skype. Now, people use it to send more than $1 billion dollars a month. It’s a massive platform that went public last year with a valuation of over $11 billion.
There are two main features of Wise:
- Sending money internationally at real exchange rates.
- Having a Wise multi currency account, which allows you to spend money overseas in the local currency.
Who should use Wise and a Wise Multi Currency Account?
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Travelers and holiday-makers: If you’re planning to travel or work abroad, you should have a Wise Multi Currency Account and the Wise Debit Card. You can use your Wise Visa Debit card to pay for everything in the foreign country in their local currency, saving a lot compared to using your home country card.
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Anyone sending money: If you need to send money internationally, Wise offers the real exchange rate, not the terrible bank exchange rate that’s been robbing us for years.
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Digital Nomads or remote workers: Every digital nomad and remote worker should use Wise. It allows you to hold currency in more than 54 currencies. People can pay you in any currency, and you can convert it to the currency of the country you’re currently in, or to your home country currency, all at the real exchange rate.
Setting up a Wise Multi Currency Account is easy and takes less than 5 minutes. It costs 5GBP (7$) for the Wise Debit Card. This is the best way to use your money when you’re overseas.
Wise is not a bank. Banks accept people’s money, invest it, and make a profit. This means if everyone tried to get all their money out, the bank would go bust. Wise keeps all the money, and it’s there, liquid and waiting for us to use it.
Is it safe to send money with Wise? Absolutely. Over 10 million people use it each month, sending over $7 billion per month. Wise is regulated by the FCA, uses 2-factor authentication to protect your account, and holds money with established financial institutions so it’s separate from their own accounts.
In conclusion, everyone should have a Wise account and pay the 5GBP for a Wise debit card. There are no monthly fees, no hidden costs, and it gives you access to different currencies and a card to use overseas.
