Transferwise Business Account: The Unbeatable Alternative to a Traditional Bank
A Transferwise Business Account is an alternative to a traditional bank account. It’s approximately four to eight times cheaper and twice as fast when it comes to receiving or sending money internationally. Transferwise is perfect for freelancers, digital nomads, or anyone who needs a business bank account in another currency, without the hassle of opening one up in that country. The Transferwise Business Account allows you to hold over 50 currencies at any time and pay no transfer fees on foreign exchange rates!
MAIN BENEFITS OF TRANSFERWISE BUSINESS ACCOUNT |
Transferwise History
Transferwise is a transfer service company that was founded in 2011 by Taavet Hinrikus and Kristo Kaarmann. The idea for transferwise came about when they noticed the transfer fee’s that they were being charged to transfer money from one country to another. Transferwise is now based in London and has created an innovative way of paying transfer fees and has also come up with a way of transferring money without any transfer fees at all!
The Transferwise service is a fast and affordable international transfer service that has an excellent reputation for speed, quality, transparency and value. The company offers a wide variety of ways to move money between currencies with its innovative borderless multi currency accounts.
Transferwise changed its name to Wise in February of 2021
Transferwise is the best business account for international money transfers
Transferwise has revolutionized international money transfers. One of the biggest advantages of their business account is that you can create an inexpensive and easy alternative to a traditional bank account.
Everything can be done from the comfort of your office or home.
You can open a Transferwise (Wise) business account online in about 10 minutes. Forget about piles of documents, frustrating bankers, waiting in queues in traditional brick and mortar banks. All you need is some basic information about your business, where it is registered, who are the directors and what does your business do. Additionally you will need to send your verification documents. We personally went through this process, and can confirm that it is very straightforward and fast.
Receive payments in multiple currencies without conversion fees. Get access to a Australian BSB code, US routing number, Euro IBAN and much more
The Transferwise business account is great if you have an online business and are getting paid or need to pay suppliers in foreign currencies. It’s perfect for freelancers and digital nomads as you open bank accounts in popular currencies in a matter of a few clicks.
Make your Wise Business account act like a local bank account in the UK, US, Eurozone, Australia, and more. You can create multiple local business accounts in different currencies. You can easily run a business in the UK and create a local account in a different country. This service offers the best alternative to traditional bank accounts if you have a business and need an account in foreign currencies.
You can transfer money from your account and hold over 50 different currencies in one place to save on fees when exchanging currency. Transferwise is perfect for anyone else with a business that needs an inexpensive solution for international payments. You can create bank accounts in popular world currencies in a matter of clicks.
What happened to the Transferwise borderless account?
The Wise milti-currency account is the same account you know and love. The only change is the name – we used to call it the borderless account
Complete eCommerce solution
Ideal for freelancers, entrepreneurs, and nomads. Provides UK, Eurozone, Australian, New Zealand and US bank details without a local address. Use them to get paid or withdraw money from platforms like Amazon, Paypal, Stripe, Shopify and other online platforms without hefty international transfer fees.
Serving the needs of over 50 currencies, Transferwise is up to 8 times cheaper than traditional banks
We compared Transferwise Business Account fees:
– Transferwise is approximately 7 x cheaper than most Australian banks
– Transferwise is approximately 4 x cheaper than most US banks
– Transferwise is approximately 19 x cheaper than PayPal
Compare the prices – Wise Money Transfer Calculator
MasterCard Business Debit Card included with every TransferWise Business Account
With every business account you receive a MasterCard Debit Card. You can easily freeze, set spending limits and approve payments from your smartphone app. Spend your money and pay company business expenses where ever MasterCard is accepted and get the best conversion rates with any overseas payments. We use the TransferWise MasterCard daily and this one of the best and easiest ways to pay for your company expenses.
How fast are Wise International Money Transfers
Compared to traditional banks Transferwise is extremely fast and efficient. Depending on the country an international transfer can take minutes up to 1 or 2 business days. You can check the status online and the most importantly you get the real exchange rates with no hidden fees.
Find and compare methods available to send money, then choose the one that will get your funds there fastest.
Is Wise Business Account Safe
Yes the Transferwise business account is safe. They have been on the market since 2011. Since then they have opened 17 offices worldwide and hire 2400 employees. Already more than 10 million customers have trusted this brand. It Transferwise offers a safe alternative to traditional bank accounts for businesses that are dealing in foreign currencies. You will always know the cost of your transfer upfront before approving it and never be suprised by any hidden fees like with traditional banks. Transferwise does not charge for incoming transfers and there are no monthly charges to maintain a business account.
What makes Transferwise safe:
- they use 2-factor authentication – only you can access your money
- fully regulated business (FCA in the United Kingdom and FinCEN in the United States)
- Transferwise holds your money in established financial institutions
- Full transparency on how your data is stored and processed
Final Thoughts
Transferwise Business Account is a great option for businesses and startups that want to keep their money in one place. It’s up to 8 times cheaper than traditional banks, 2x faster at transferring your money internationally, easily open an account remotely from anywhere in the world with just your email address and a few documents, and receive a MasterCard card linked to your business bank account so you can spend it wherever Visa is accepted without paying expensive exchange rates. Best of all? You get access to everything you need for eCommerce transactions too!
Signup for a Transferwise Business Account here:
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