Wise

Wise (formerly TransferWise) is an international payment system that has revolutionized the approach to currency transfers and managing multi-currency accounts. Founded in 2011 in London, the company quickly gained the trust of millions of users around the world thanks to its transparency, low fees and ease of use.

How Wise came about

The idea for Wise was born by two friends from Estonia, Taavet Hinrikus and Kristo Kaarman. Faced with high bank fees when transferring money between the UK and Estonia, they came up with a way to make cross-border transfers faster and cheaper - through "internal exchange" between users in different countries, bypassing currency conversion where possible. This became the basis of Wise's business model, and later its main advantage.

Key features of Wise

Wise offers a wide range of services for individuals, freelancers and companies operating abroad:

• Multi-currency account — a single online account for storing, receiving and sending funds in more than 50 currencies.
• Local bank details — users receive their own details (IBAN, sort code, routing number, etc.) in key currencies — EUR, USD, GBP, AUD, CAD, which makes it easier to work with foreign clients and contractors.
• International transfers — fast transfers between countries with minimal commission and at the real interbank rate without hidden markups.
• Wise business account — a solution for companies and individual entrepreneurs that allows you to issue invoices in foreign currency, pay suppliers, pay salaries abroad and consolidate international payments in one interface.
• Wise debit card — linked to a multi-currency account and allows you to make purchases worldwide without hidden fees and with automatic currency conversion at the market rate.

Why users choose Wise

Wise has advantages over traditional banks and many online services:

• Real exchange rate — the exchange rate corresponds to the interbank rate, without the "markups" typical of banks and other systems.
• Transparent commission — always displayed in advance, fixed and clear.
• Speed — more than 50% of transfers are completed instantly or within a few hours.
• Convenience — intuitive interface, mobile application, support in different languages.
• Regulation — Wise is licensed in the UK (FCA), EU, USA and other countries, which ensures a high level of reliability.

Who uses Wise

Wise is great for both private and commercial use. Among its users:

• Individuals — for transferring funds between countries, traveling, studying abroad, paying for goods and services.
• Freelancers and remote workers — to receive payments from foreign customers.
• Small and medium businesses — to pay customers and suppliers in different currencies without having to open multiple accounts in different countries.
• IT companies, marketers, e-commerce and startups operating in international markets.

IT-OFFSHORE will help you open an account in Wise

IT-OFFSHORE provides full support when opening a multi-currency account in Wise for individuals and legal entities. We help:

• Prepare a package of documents
• Go through the verification procedure
• Configure an account to suit business needs
• Integrate Wise into an existing financial or accounting system

If you want to receive international payments without high bank fees, opening a personal or corporate account in Wise is an excellent solution. And IT-OFFSHORE specialists will ensure a quick and reliable launch, saving you from bureaucracy and technical difficulties.

Contact us today and get a convenient tool for working with international finances together with Wise and IT-OFFSHORE.