A Wise replacement for Paypal - Very Inexpensive (1 Viewing)

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https://wise.com


Not too long ago @GeorgeK announced TranferWise.com had aquired Wise.com.

I recently had a member from the UK @Arch ask me if we accepted payments from wise.com which prompted me to look into it.

I'm happy to announce that not only do we now accept Wise.com for sponsorships but after a thorough review I can say they are so much more reasonably priced than PayPal.

I gave up my PayPal account not too far back because their new TOS was bordering on insane.
Who closed their paypal account?


So after going through the signup process, funding my account etc. I can honestly say I'm never going back to PayPal. The bonus is they send you a Visa card that you can use to spend your funds or you can transfer them to your bank account.

Every aspect of wise.com is so much better than PayPal at a fraction of the cost.
 
Sold my first domain using Wise to receive payment, it cost my client $3.57 to send the 5k to me. In fact that fee is the same to send any funds in Canada and receiving is free.

My client said signup was no big deal, which was the same for me, and the deal closed quickly.

The domain sold via my market page with the end client contacting me via my contact form (link on my market page)

Here is an example of the fees:



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I think PayPal is going to be in a lot of trouble when this thing goes viral.
 
What are the fees to transfer the funds from Wise to your bank, though?
 
What are the fees to transfer the funds from Wise to your bank, though?

I paid a 3.57 cent fee on the 5k to move it to my account and I understand that is the standard amount regardless of amount.

My bank account is linked so its easy to move but I like that I can keep my USD in USD for as long as I want. I can run multiple currencies at the same time and so far all fees have been pennies.


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See above the fee is always the same, this is for a wire transfer but I can send the 5k or 1 million and the fee is the same.

By using wise, sending to myself without a wire transfer it costs me .66 cents regardless of amount.
 

USD account details no longer available

This article only applies to you, if we’ve emailed you about your USD account details.

Due to operational changes in the US, we had to make some changes to some Wise Accounts.
We understand this happened quickly and we apologise for the inconvenience.

What’s changing?

We’ve temporarily disabled USD account details for some of our customers. We’ve emailed you if your account is affected, so please check your emails.
This means you can’t receive USD directly to your Wise Account from other people. You also can’t fund payments to connected accounts, or use USD Direct Debits.
Please note, transfers that are sent to your account details will be automatically returned to the sender. It usually takes 3-5 work days for ACH to return to your sender, and 5-10 work days for domestic and international wires payments. Your existing Direct Debits will be cancelled.

Are there any other changes?

Nothing else is changing about your account.
You can continue to:

Will I get my USD account details back?

We’re working hard to change this and will let you know once we have an update on your new USD account details.


Holy crap, I have not received that notification

This bears more research to see if everyone is affected.
 
WISE USD account details changing.


Received an email from Wise telling me the USD account details will change as of October 31.
Logged onto Wise, noted the new routing number, account number and address.
Set up a link from my credit union to send money to wise using the information provided.
The link for Wise previously was Evolve Bank and Trust.
The new link is with Community Federal Savings Bank.
The SWIFT code is unchanged.
 
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My USD account seems to be intact and working as expected.

As you can see I have $100 in my USD account and $60 in CAD with a total value of $197.46 CAD

I am expecting a 24k USD transaction in the next 8 hours or so I will post back to let you know if it arrived safety in my wise USD account.
 

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