Thanks for this, Steve. I've been using Transferwise for about 18 months now and I really like it.

Such a great video! I've been watching several videos about transfer wise but yours was the easiest to follow and understand.

Excellent, timely video Steve.

I store a lot of your programed info for later viewing, well ...this one took a while to be viewed like July of 2022 but I was delighted to find out about TransferWise ,

Thanks Steve....I've been using Transferwise for sending money to my friends in Thailand for the past two years. Definitely the best price and as you've explained fairly easy to use wether you are using your computer or phone. When transfering funds you do have to be careful to transfer using the cheapest method which I have found to be "Direct Debit". However when using this method you have to make sure you have your Transit/Branch, Institutionn, Account, Client Card Numbers all at hand. At least I have not found a way to save that info in the app. I am not sure how to benefit from the Borderless account. I have an RBC CDN and US funds account as well as an account with RBC Bank(Georgia). I also have Canadian and US Paypal accounts and an American AMEX credit card. Like most people I just want to be able to convert/send my money to anyone anywhere at anytime without occurring additional fees. I have a HomeTrust Visa that does not charge any Fx fees so thats what i use when I travel. I have not used my PayPal accounts since I started using Transferwise. I too am waiting for the Debit card which means( I think ) I can more easily transfer my Canadian funds to the other currencies like USD's and Euros. Unfortuantely it's likely delayed in Canadian Banking Regulatory crap that won't see the light of day anytime soon. :-( I love your videos on Zoom and it was a nice surprise to see this one. Two awesome tools! Thanks :-)

great content sir! thank you! I'll be using it for Amazon disbursements

Very valuable information. Thank you!

Thanks so much, will definitely use it. 3:00 "The world's banking systems weren't designed for people without borders." Awkward copy. "The world's banking systems were designed for people with borders."

Great video! Thank you for the valuable information.

thanks for the video steve, I recently signed up and like what I see so far. If defintely time to reduce my banking fees especially and sue the debit card seeing as I pay for all my biz expenses in USD and I live in Australia 🇦🇺

Just learned about Wise and needed some reviews. Your feedback is encouraging and yes, I am really excited to try it. Will certainly use your affiliate link as a thanks. 🙏🏼

Thank you. I clicked on your affiliate link to give you credit to say thanks for posting this educational video.

I'm a freelance artist and I've always had this problem (I live in Chile). I will try this service and compare it to "multicaja" (chilean service). Thank you again for this news. I will use your link when I do

Great find, Steve! I am always on the lookout for payment systems like Stripe and PayPal to expose to our audience. I'll investigate this one for sure!

Great Video Mr D, note :- you can specify how much the recipient will receive by using the bottom box in the transfer screen, it changes the amount you have to send to cover this.

This is the second time watching your videos. I already have my transferwise set but I have some issues to verify the US $ account. Maybe this is because I missed a step about creating the US dollar account? Could you show that again? I really appreciate that a Canadian is doing this and explaining thoroughly without some distracting music in the background.

Thanks for sharing this tool with us. I have been sending money to a friend in East Africa via Western Union, from a debit card with a US-based bank to his bank account. With this approach WU is very slightly less expensive than TransferWise as of this morning. But this sounds very good!

Nice! Thanks for sharing your insight! 👍

thanks, for all the info now and always.

You can transfer US$ from TW to a Canadian Bank US$ account? I love TW ! Especially for Pesos to my Guesthouse in Mexico! Saves me huge transfer fees compared to banks and much quicker too! Thanks Steve!

Great review Steve ive had great service from them.

Thanks so much for this video! I'll chek it out. I live in Argentina and getting funds out of my PayPal account is getting more complicated and very, very expensive. Love your videos!

I mainly use TW to transfer funds from the UK to the Philippines. Straightforward. Recently I've setup a couple of direct debits to UK companies. This works well

Thank you so much for sharing knowledge.

Thank you for the review. This helped me a lot and I will be trying this service for sure.

Thank you very much Steve. English is not my native language but I did understand most. Question: Is Transferwise also a WISE solution when using only once, incase I will sell my house in Scandinavia and buy a new house in another country with different currency ? Do I need to make a bankaccount for just one transaction ? Love to hear from your. Thanks in advance.

Hey dottotech! Thanks for the video. Any chance you could expand on the specifics of setting up the account? I currently have a Paypal account that I use, I got one client (first time!) in the US who wants to pay me via PayPal (great, so far so good) but I wanna make sure I can set up my TW account right so I can withdraw funds from my personal banking account (either BMO or TD) and minimize the fees. Do I need to create a new Paypal that is based in USD?

Very Helpful! Thanks~!

Two quick comments: (1) the TransferWise (TW) debit card feature has been "coming soon" to Canada for almost two years now. Whereas Americans, Brits, and Europeans already have access. Unfortunately, it's unclear as to whether TW is actively working with the Canadian government to find a solution (presumably the problem is that our banking regulations are quite strict). My suspicion (based on a number of conversations with TW reps) is that the Canadian market just isn't large enough to give them the incentive to lobby hard here. Instead: this may very well be something that Canadian small business organizations (like CFIB) should take-on their plates, as lobbyists-because this is really a question of global competitiveness for some of us. (Over these past few years, I calculated that I would've saved at least $2000 in currency exchange fees-in terms of transforming the currency in my TW accounts into access to actual "native" cash via the TW debit card-given that a large part of my business involves traveling/scouting through the UK and Europe). (2) My second comment relates to a small caveat in terms of the user-friendliness of TW. While some operations are definitely a breeze, it's important to note that traditional banks don't always "play nice" with TW, because of its unconventional "virtual" structure. For instance: when TW sets up an account for you in the United States, or in an EU member state, or the UK, it's really not clear what the "residential address" associated with this account should be (since you don't actually live in those states). Some banks, however, operate via software whereby certain actions like bank transfers absolutely require that a residential address is provided, otherwise the transaction can't be completed. There isn't always an obvious solution here, and it's important to note that actions like bank transfers are not refundable. So, if you "guess wrong" in providing the information, you could risk losing the money. The (slow) solution to this problem is to send "test" transfers in these cases, i.e. for the sum of $1; although you'll have to swallow the associated banking costs. But, once you've made a successful transfer, then you know the accounts are linked. This is a very specialized point-but it's important to keep in mind that the ingenious peer-to-peer TW solution to currency exchange (whereby money never actually crosses physical borders, but is instead sloshed-around between TW member accounts) is still operating within traditional banking structures that are biased against their disruption. It's also conceivable, especially in emergency situations such as the one in which we find ourselves, that TW's model *could* be vulnerable to any kinds of changes to banking regulations in a particular nation-state. But yes: a great suggestion Steve. TW has saved me bundles of money in the past two years & also given me a competitive advantage over colleagues who can't transfer money as easily (i.e. European colleagues are always amazed that I can pay them via bank transfer so quickly and without "international" fees that they'd have to pay if the money was coming to them from a physical bank located outside the EU).

There are a number of credit cards in Canada which offer no foreign exchange fees such as the Brim Financial credit card. The benefit of such cards is you can pay for things in US dollars or any other currency for that matter and it will just convert over to what the bank of Canada rate was at the time of the transaction. IMHO it's way easier than having to set up account and manage accounts with multiple foreign currencies.

thank you so much! if there is new feather on transferwise would you mind to let us know~

I've used Transferwise several times and I find it to be very good.

Thank you! :)

Thanks

I’m new to Wise. A bit confused. Which Canadian Bank would you recommend to open a USD account that works best with Wise. Thanks for this Video. I’ve Subscribed.

My first time withdrawing funds from Paypal to Local Bank was $25 and transfer fee was $5. This in my opinion is very expensive. From your explanation, it seems that Wise Transfer is more efficient for international transactions. Thank you for sharing this video.

I just signed up using your Link

Thank you.....

Hi! nice review! can i use personal transferwise account in Europe for receiving payments from ebay, etsy etc.?

Very cool

Hi Steve, your video is very informative. May I ask your opinion. Is it safe to keep money in the Transferwise USD account for a long time. I'm not US resident, I live in UK. On their website, they say the money is kept at a local US bank (Wells Fargo). Thanks.

Hi, Is it possible to park and move money between your TW accounts (£ and $) and get the benefit of conversion rates ?

Wise is really solid service if they stay like this no one will compete with them

Hey! Canadian here - doing a comparison US to CAD. $500 USD = $686.40 on Transferwise. $500 USD = $689.70 on PayPay today. Transferwise uses a better exchange rate than PayPal, yes, but their service fees override this. PayPal is still cheaper, at least in this situation...

I'm wondering how you've been able to add an US bank account to your Canadian PayPal account? I'm living in Germany and by default paypal only allows me to add other European bank accounts with an IBAN number. I can't find any information on setting up US bank accounts. Google actually says it is not possible. Is this different in Canada or how did you manage to do that?

can you give a tutorial on how to send to a borderless account for new recipient

Hello Steve, thank you for explaining Wise in derail to us and I have high hopes for us living in Canada. I'm in the process of setting it all up and soon trying it yet PayPal keeps reminding me that the only way I can transfer my money is if it's in a Canadian dollar. I'm payed in USD and I also have my primary currency set in USD on PayPal. Do we really have a chance at this? As I opened my American Bank Account on PayPal, PayPal is asking for a US tax ID or they have the right to withhold 24% of my funds. Did you come across this as well? Thank You

As an EU resident, I can't link the TW account in USD because its based in the USA. Any ideas on how to send USD funds from Paypal EU to TW?

hi did you have to open a normal/personal account or a business transfer wise account in order to get payed from your clients or pay your employees? is it possible to have both is there a monthly fee or a monthly minimum amount of money to have in account?

what brand of glasses ? O_o

Thank you! Do you know if we are getting the debit card in Canada soon?

Hi, thanks for the video. I just created my profile on transferwise, I also paid those $20 to get started but I don’t know if I also have to upload a photo of me and my passport, I was never asked to do so while creating my account and the problem now is that I have no bank details. Where can I see my bank details? Please help me.

I want to sign up I live in the Caribbean but my bank is not allowing me the US to wire transfer

I never can find the links you mention... including this one....

Great video! Any idea when the debit cards are coming to Canada?

2 Questions. 1) How do I check if the receiving person will also get charged additional fees for receiving the transfer? Is this considered a "wire transfer" - (if so, domestic or international) 2) Can I use transfer to deposit money into my PayPal USD balance if I have a Canadian PayPal account?

Can Transferwise be used to obtain foreign currency - that is, paper money to take on. trip, or perhaps in a debit card to use as local cash?

How do you get money into your account from a canadian bank account? When I clicked by debit card, it wouldn't let me. So I had to use my credit card to get funds in and that also only worked for the canadian account. When trying to add funds to the us account (on transfer wise), it wouldn't even accept the (same) credit card...? Also, the fees show up as much higher than in your video, so it actually costs me more to use that service than paying by credit card in the first place...? Did you have the same issues? Could it be because I set up a business account rather than a personal one? Thanks, your explanations are great as always...

Actually, paypal allows you to connect transferwise account to paypal, so you can withdraw the money from Paypal for free to transferwise, if you are forced to use paypal. But paypal makes it close to impossible. It is supposed to send a security code to my phone, but it never arrived, then wanted us to contact support, which is not an actual way to contact them, but refer you to a confused paypal community, who has unanswered problems themselves. so, yeah, someone needs to replace paypal's dominance over the payment gateway industry.

Can I sell items to customers and have the money go into my paypal, into the transferwise bank account without the paypal 2.9% +$.30 fee, or is transferwise just for changing to different currency for employees in different countries?

Are you using a business account in the video? People with a non-business Paypal account in the UK can't add/link a non-UK bank to their account. So even if you receive money in other currency, you have to use Paypal for conversion. Not sure if there is a workaround for this!!?

I get the conversion rate and fees and all. But if I’m a customer who doesn’t purchase globally every day, why would I want transferwise? Way I see it, company I’m trying to pay can just take my money and run with it?🤷🏻‍♂️

Nice video

Can I get paid directly into my transferwise account as if it were a regular bank account?

Can you please explain how did you link your USD account in Canada to transfer wise, please . Thank you

Can someone outside US (maybe in Latin America) that can confirm if you don't need an US bank account? I'm located in Costa Rica, and transferwise is here, but stripe is not here, so I'm planning to move the money through transferwise, but I still not quite sure if it's going to be this easy for me, thanks!

FYI... the US also has the debit card. I have one.

If I get paid by a US employer in USD would I have to pay taxes to the US government?

Is it can send to Myanmar? and how about the rate? I usually used WU and Merchantrade Money service . They are fast and the rate is good, but I wanna try TW.

Hello, Nice video, but how you linked Paypal account with Transwerwise? Options is Link a Ibank or card. Best regards

I just tried to send money. It doesn't have my bank in the states listed. So does the money go directly to my MasterCard in Sweden?

I use Transferwise Borderless Account but paypal will not let you add a US account to a Euro paypal account so that part is incorrect. I have been using transferwise for 3 years

Paypal just has added extra 3% when transferring to US bank (COMMUNITY FEDERAL SAVINGS BANK. Mine is Australian Paypal account. Did this happen to you too?

I would like to make an overseas payment via WISE instead of paypal but the service provider only wants payment paypal, what can I do?

Do they have a cap for transfer amount?

I am a US business. How would this be good for us with Canadian buyers? How would it work

Hi, is wyze still the cheper tool compared to paypal today? thanks

In the end, they ask you for your credit card. If you have a European Mastercard or whatever you will pay an extra fee.If you use your American credit card no fees from America. So they say?

Further question I want you to get the credit for me signing up with them. But where is the link I see Like, dislike, share, download, thanks clip and save and ... I do not see a link to sign up with transfrwise What am I missing?

How can I link zelle to transferWise as a US based account

Transferwise opens an Americain Bank Account for you in US$. I have EURO's and need to transfer EURO's. How can transferwise help me?

how do i transfer yen to pay pal?

Can you convert them back and forth between both currencies? Say you send yourself some money from u.s. dollars to Canadian Dollars. If you take a trip to Canada and you don't use all of the Canadian dollars, can you convert them back to US dollars so that you can use them in your own country? If so, would it cost too much for it to make sense to do that? Also, how long does it take for a payment to go through?

Can I use this card in Mexico?

how about asian country ? able to use transferwise as well?

I can withdraw money from my transfer wise account on any atm in the world of other banks?

I have been always aware of Transferwise but once I created and verified my account, and after adding $20 to my USD balance and copying the routing number and account number from Transferwise to PayPal it says: "Sorry, we’re unable to link that bank because it is disabled. Please try another bank." My PayPal account is verified. I'm confused why it is not working for me. Is it because I didn't link my Transferwise Mastercard yet?

hello I would like save my money there in wise. there is not problem ?

my issue is this, my paypal is connected to US bank account, and accepts GPB / AUD / USD currencies. i can not find a way to withdraw GPB / AUD all because my account linked to US bank. is there any way to withdraw those currencies?

i currently have an established bank account friendly local bank everyone knows me i am a person not a number can i use them for a base and go through wise for my moneys transfer while i am in the philippines

I’ve used Transferwise to transfer from the United States to Thailand. However, is there a cheap way to transfer money from Thailand to the United States?

Unable to establish a link between a UK Paypal and UK TransferWise account ... How come ? I have been trying to withdraw my GBP. earnings to TransferWise in several ways for months without luck. After I got stuck with my Paypal EUR. account (Paypal prohibits this), I opened another Paypal account in the UK for my british customers. Then opened a TransferWise account in GBP. and received a local address in London with it. I have tried to create a link between my UK Paypal account and the TransferWise bank account, but without succes. It seems that Paypal is simply blocking this although the Paypal and Transferwise accounts are both in the UK. I haven't been able to contact customer support as they are unreachable by phone. Do you know howto ? And the messages posted online in their online help were simply discarded. HEEEELLLLLPPPPP !

Has anyone set this up recently? The video is relatively new. I’ve set it up “successfully” but I’m still needing to wait a few days for PayPal to take their cents back, as I hear transferwise has issues with the account being debuted I’m sorta fearful it won’t work. Can anyone confirm they’ve successfully been through the whole process? Thanks

Hi, I would really appreciate if anyone could answer my following question: Can I top up my Transferwise account with my own personal credit card? Let´s say with a Master Card, not a Transferwise card. And if so, what are the fees? This is a question that I´ve found no answer to on the Transferwise homepage or on Google. (Which might be intentional?) Thankyou very much !

I did not think sanata clause need a TransferWise account

Is their a way I can save on transferwise . I want to TransferWise from my credit card to an account on TransferWise to save then later use to purchase using TransferWise

Is this service only for PERSONAL bank accounts?

Can you save your money in transferwise

Is it possible to send money FROM Transferwise (now known as Wise) TO Paypal?

Does the international client have to have an account in transferwise in order to send you money?