Experiences with TransferWise?

[SH247]

I've been looking at TransferWise as an option for transferring money overseas - I just wanted to get some opinions on it, I've seen the google reviews and there are a lot of negatives, the positives seem to be limited in info and many come from employees rating them on how much of a "great place to work" it is. Clearly that's not relevant to anyone thinking of using their service.

Just wanted to run this by everyone to see what the experiences are? Initially I'm only going to be looking at transferring small amounts but as the amount grows, I'm concerned I might experience some of the things that other users have experienced...

Any opinion would be useful

 

[Daugela]

Hi, I’ve only had good experience, so not sure about the others. Have you tried their business account?
https://transferwise.evyy.net/c/420584/26105/985?u=https://transferwise.com/gb/borderless/010318

 

[SH247]

Hi, I’ve only had good experience, so not sure about the others. Have you tried their business account?
https://transferwise.evyy.net/c/420584/26105/985?u=https://transferwise.com/gb/borderless/010318

Hi, yeah I've had a look at that and it does look attractive, just seen some horror stories about them, like withholding and even losing payments (although I understand there are other factors such as user error that can play a part in this).

 

[Raw Rob]

I've been using Transferwise for a few years now, both business and personal and not had a single problem with them. Although I did hear of a Facebook friend not getting their transfer as quickly as they should, and he said that the customer service to deal with this wasn't very good. Although the transfer did come through in the end. (The have a referral scheme, if you use my link you get your first transfer for free.)

 

[GoingOnline]

I absolutely love them. I use them as a business account to get payment from my overseas clients (Borderless account, USD and GBP currencies) and to transfer large amounts of money when I needed to as a personal account.

Never had a problem, everything has always worked smoothly. And no, I don't work for them or get paid to say this. But compared to paypal they have saved me so much money and trouble!

For reference, I do about 5-10 transactions per month, from different people paying in USD.

 

[GTL]

I've been using transferwise business for 2 years. My experiences have been wholly positive.

Their customer service is excellent (on the phone). When I started, i was so nervous about the whole thing I called them a lot to make sure I fully understood everything. Also, when I need to send money to a new overseas supplier, I do the usual trick of sending a couple of £'s, just to make sure everything is working properly.

I'd recommend them. (I'm not paid to say this etc - just a very happy customer).

 

[twaen]

Same here, used countless times for personal purposes. Always in time and OK

 

[SH247]

Thanks a lot for your replies! Really helpful actually, a lot more detailed than the reviews on google and nice to know there are so many positives. I guess it's human nature to only want to moan about the negative and not praise the positive so I'll put their google reviews down to that!

 

[SH247]

Also, when I need to send money to a new overseas supplier, I do the usual trick of sending a couple of £'s, just to make sure everything is working properly. .

I think this is why most of the negative reviewers were having issues! It was failing on the suppliers end and not an issue with TransferWise itself. Guess it pays to be cautious

 

[Maple Sourcing]

A client pays me regularly with TransferWise, it's very quick. I'm happy, just to note I'm receiving money not sending money though.

 

[SH247]

A client pays me regularly with TransferWise, it's very quick. I'm happy, just to note I'm receiving money not sending money though.

Ah that's. Even better as I am going to be using your services too

 

[Furqan721]

Transferwise borderless account is the best account. I will recommend it to anyone looking for fast and cheap international money transfers.

 

[SEO.co.uk]

I have used Transferwise in the past and was happy with their fees. Banks charge quite a lot.
The good thing about them is that they show a price comparison as well.

 

[deniser]

I use it to send money to my Polish supplier. It is an absolute dream, arrives quickly and costs only a few pence. I have been waiting for them to extend the service to US dollars to China but I think it is only available in Yuan at the moment - not tried it yet but will do shortly.

I think it has some connection to Mastercard and has some big name investors such as Richard Branson so is reputable.

 

[Sal-FastCow]

We have been using this to purchase equipment from our vendors in China/Middle east.. never had a single issue and really say these guys are good.

Guess we have been lucky?

 

[HungVato]

Zero problems in my end but. I say do it

 

[Mohamed IBrahim]

I use Azimo