International Money Transfer | Send Money Abroad with Wise (ex-TransferWise) (2024)

FAQs

International Money Transfer | Send Money Abroad with Wise (ex-TransferWise)? ›

And that's why, in part, once you send an international wire transfer, it can take up to 5 business days, or in some cases even longer, for the funds to be available in the recipient's account. Once an international wire transfer is initiated, funds are deducted from the sender's account.

And that's why, in part, once you send an international wire transfer, it can take up to 5 business days, or in some cases even longer, for the funds to be available in the recipient's account. Once an international wire transfer is initiated, funds are deducted from the sender's account.

Once you've registered your Wise account you can send money internationally and pay using your regular online banking service. Transfers are set up online or in the Wise app - and can move far faster than a normal international bank transfer. In fact, 50% of Wise transfers are instant, and 80%+ arrive within 24 hours.

Unlike others, Wise only uses the mid-market exchange rate and we show all our fees upfront. We'll never charge you hidden fees in our exchange rates to make you pay more. Compare what you'd pay to send money abroad with top banks and providers, or with us. This applies when you pay in via bank transfer.

Plus, Wise multi-currency accounts can: receive your money like a local in several regions (currently in the EU, the UK, the US, Canada, Turkey, Singapore, New Zealand and Australia) manage and hold your money in multiple currencies. let you spend your funds with the Wise debit card.

On many popular routes, Wise can send your money within one day, as a same day transfer, or even an instant money transfer. Sometimes, different payment methods or routine checks may affect the transfer delivery time. We'll always keep you updated, and you can track each step in your account.

Wise has proven itself to be a reliable platform for transferring money in a variety of ways. After you sign up for an account and get officially verified, you can transfer money to 70+ countries in 40+ currencies in up to one to three business days or for some – in seconds.

We'll let you know if we need extra information to verify you once we receive your money. This usually takes less than 10 working days.

How much can I send? The minimum you can send is 5,000 INR per transfer. You can transfer up to 225,000 USD, approximately 18,700,000 INR per financial year.

What information is needed for a Wise transfer? ›

If you're sending money from your account to someone else's balance (of the same currency), it's free. If you're sending money from your account to a bank account outside of Wise, the fee will depend on the currency. We'll always charge a conversion fee if you send money to a different currency.

Domestic wire transfers usually take less than 24 hours while international wire transfers can take up to 1 - 5 business days — they can be quite slow as many factors influence transfer time.

We don't run a credit check or share your number. Do not send a copy of your social security card. We handle all your private data securely, and according to data protection regulations. If your SSN or ITIN isn't accepted, you'll also have an option to verify yourself with an ID and your selfie.

For most people, there are no limits on how much you can receive and hold right now.

Once we've received your money, we convert it to the new currency and send it out. But banking hours, weekends, and public holidays are out of our control — so this might slow down the process. If you're sending money over the weekend or before a holiday, it may only get processed the next working day.

Whatever currency you're sending, converting your money can always take up to 2 working days.

Average international wire transfer times

While domestic wire transfers can be completed within one business day, international transfers typically take one to five business days, and they can take longer depending on a variety of factors.

One of the main reasons for delays to international wire transfers are the fraud prevention processes and procedures put in place by banks. The SWIFT network requires transfers to pass through up to three correspondent banks before arriving at their destination.