TransferWise in detail

[@tricialittlefield9531]

Thank you for making this video. I emailed the company and said that I would not have felt comfortable making my first transfer without your help. Your video was excellent. Thank you.

[@CreativeNomadTV]

Thank you Tricia this means a lot!

[@macnoz131157]

I've looked at a lot of video tutorials on Transferwise, including their own linked from my account. Your video BEATS THEM ALL. Well done it should be the go to video

[@CreativeNomadTV]

Thanks for the kind words John, I really appreciate it!

[@admissionscounseloracademy8474]

kzbin.info/www/bejne/o5-shoOFZ7OSkJo

[@leonahiggins5170]

Thank you so much for this. I'm very new to sending my grandchildren money in Canada from Australia. My son recommended TransferWise.

[@CreativeNomadTV]

No worries, happy to help!

[@JoyPetCM]

Many thanks for this video. It gave me courrage to proceed with my 1st transfer. And it went out perfectly. Once download the App, everything went out smoothly and even easier than expected. Wow! TransferWise is great! Will be my reference tool for future transactions, for sure! Also, in my case as well, the money arrived earlier, basically on the next working day. And just in time for a birthday party, which made it highly appreciated! 🎉🥳😁

[@lianariyadi7894]

How many days was it take?

[@JoyPetCM]

@@lianariyadi7894 I made it on a Saturday and the next Monday the money arrived. So even faster than expected! 😉

[@TrendingHeadlinesTV]

I have not used TransfeWise before but looks like a great service. I currently use WorldRemit which has been amazing as well. They only charge $1.99 for any amount of transfer that I have made to the Phiilppines from U.S. I transfer directly into my bank account there with BDO from my Chase account. Takes a few hours for it to be delivered to my account in the Philippines but not too bad; like 2-4 hours for everything to be complete. They also send my recipient a text letting them know that they have a new deposit into the account.

[@ken_98]

Thank you SO much for the explanation between the two! Whilst bank transfer has fewer fees, it looks a bit more complicated so... I might stick with debit card. Will send this video over for anyone who needs it. Clear, concise, and I think your affiliate link does work!

[@AnnaFhaumnuaypol]

I think you forgot to mention that it's not "converted" into a currency but TransferWise's Canadian bank account was notified to send you the amount that you agreed upon hence no fees were charged. So technically, no money was transferred between countries just between your AU bank and TW's AU bank and again with TW's Canadian bank with your Canadian bank.

[@mickeycheung575]

Thanks for all the info, this is my very first to use transferwise and quite hesitate to wire money to a third party that's not a bank. Good job my friend👍

[@CreativeNomadTV]

Thanks Mickey!

[@PhilGoh23]

Excellent tutorial, the best one I've seen for Transferwise, glad I clicked on your video, thanks!

[@CreativeNomadTV]

Thanks!

[@QueenBmG]

Hey all I have to say is THANK YOU!!!!! I was having the hardest time trying to use my debit card.. you're the man!!😀

[@CreativeNomadTV]

Hey thank you!

[@ly-son-ibk]

@@CreativeNomadTV Is it possible to use PayPal???

[@GamerFromJump]

If you want to make sure the destination bank gets the whole $500, you can enter that in the “recipient gets exactly” line and the “You send” line will automatically adjust to fit.

[@detch5307]

Good job my friend! That made the entire concept very clear.

[@CreativeNomadTV]

Thank you David!

[@MariaHelena-ur4zi]

@@CreativeNomadTV ml k

[@admissionscounseloracademy8474]

@@MariaHelena-ur4zi kzbin.info/www/bejne/o5-shoOFZ7OSkJo

[@514relaxmode]

Thanks, U explained it better than their website!

[@CreativeNomadTV]

Thanks!

[@ahmarhussain8720]

you cant imagine how much this video has helped me, stay blessed

[@CreativeNomadTV]

You're welcome Ahmar!

[@yourfilipinava3905]

Hi! Thank you for this video but I'd like to ask, let's say you're from United States and you have WISE , if you will use WISE to send money to a US bank account (doesn't have WISE account ), will the sender be charged for sending the amount? or it will be deducted on the receiver's end?

[@petemiller519]

Super vid buddy. TransferWise should pay you royalties for making the procedure hell of a lot clearer than the information they provide. Cheers from Canada. PS, do a follow up video telling everybody to use your account number when sending money cause that is "the special number" and you can retire in the Bahamas ;)

[@CreativeNomadTV]

Hahaha yeah retire in the Bahamas... or get a visit from the RCMP. :)

[@MrAlcho02]

very good vlog, as I live in Thailand I have been looking for the cheapest way with the best rates to transfer money here from Australia, the bank rates are pitiful, thanks mate!!

[@CreativeNomadTV]

No worries!

[@oxanda7687]

I spend a lot of time in Thailand, and was the main motivation behind getting this card. When you withdraw from ATMs there do you still get charged a fee?

[@Jimhhh67y]

@@oxanda7687 yea fee now is 220 baht taking money out of ATM in Thailand with your foreign atm

[@admissionscounseloracademy8474]

@@oxanda7687 kzbin.info/www/bejne/o5-shoOFZ7OSkJo

[@brianhenson6141]

This guy explains it way better than wise which didn't even give me any proper instructions

[@ipclifton1]

Love your great explanation.!!! I wish Wise would state "reference number" on the drop down box. I know I will miss that.

[@setnancapue]

Thanks for your video. I was precisely asking me what for was the reference number. It helped me.

[@CreativeNomadTV]

Glad to help!

[@DanielSilva-dr5zq]

what a video, buddy! Pretty good!

[@CreativeNomadTV]

Thanks Daniel!

[@Muahaha651]

Question, if I transfer US dollars to British pounds and have the debit card, can I just withdraw the money from any atm at the airport as soon as I land in England?

[@Lilione111]

Doesn't look like you do many videos. Shame cos they're so good, and easy to do understand! You no doubt have better things to do in life, but if you're looking to do more, please do a transaction video for Currencyfair. Because of your Transferwise one, it gave me the courage to use it instead of the bank. Thanks!!

[@CreativeNomadTV]

Thanks for the kind words. I've been busy with my day job but I'll do more in the future for sure.

[@anthonycoleman1909]

Great video, this was better than transferwise own videos

[@conform-contrast]

super helpful, thanks so much!! you did a service to the world with this!!!!

[@CreativeNomadTV]

Thank you!

[@LINZpassionzandtravelz]

Best description - of how service works thanks so much

[@CreativeNomadTV]

Thanks Lynette

[@admissionscounseloracademy8474]

kzbin.info/www/bejne/o5-shoOFZ7OSkJo

[@ilomain]

Can I transfer money from the US to the UK?

[@CreativeNomadTV]

Yes

[@irfank20a29]

I have a problem, been stuck for days. Trying to send money from Malaysia to the UK. Got stuck on all paying methods. I cant use my online banking, no way to transfer. What do I do? Please help

[@aarongilbert9714]

If I want to send money 3 times of $ 600- abroad in a month, will it cheaper if I send the total $1,800- at once ? Thank you

[@CreativeNomadTV]

Usually Transferwise fees are a percentage of the transaction, so it should be the same price for 3x600 or 1800. It depends on the route, you can see detailed fees before you commit to the transfer on TW's app or website.

[@grindfreelife2325]

I love this service. It works!

[@admissionscounseloracademy8474]

kzbin.info/www/bejne/o5-shoOFZ7OSkJo

[@nikolaush3414]

Damn. Thanks that's exactly what I wanted to know. Transferwise should pay you man... why don't they have that info?? ;)

[@CreativeNomadTV]

Thanks Nik!

[@NomadJan]

Hey Nikolaus. Transferwise has an affiliate program, so because he has such a great video, people are probably opening their accounts through his link (that he mentioned you could do, through his link in the description). He's definitely getting paid :) You could earn from them as well, by recommending TW after you sign up for an account :D

[@MarioDub6851]

i-ve made two transfers and they close my acount...Transferwise

[@calonso95]

You explained the process perfectly correct, but I have a simple doubt: I am going to receive money (from another bank account in United States) in my borderless account in USD and I wanted to know if I need to make something on my TransferWise account or just the other bank send me the money and I will receive it afterwards. I hope you understand it well, considering that I am from Spain and my English is not so good. Thanks in advance!

[@halinamartyniak]

I used Transferwise often, to transfer money from Canada to Poland. Recently they increased the fees, in 2019. Transfering larger sums, it was around 0.6%, now it comes close to 1% EXTRA fee. The problem is that they have their account in BMO only, and BMO has a limit of $7500 per day to do Wire transfer between mine account and TW online. To transfer bigger amounts, above $7500, BMO is adding its own fee of 0.2% to transfers between my account and TW private account. On the top of that, it is impossible to transfer online. You must personally go to the bank, get the papier cheque (draft), pay $8.50 and deposit it to the same cashier. It looks stupid on BMO side, but they have those archaic rules. Any other canadian Bank can transfer your larger sums directly to you account in another country, they have transfer fee (RBC fee of $42, plus $6.50 for draft), but their exchange rate is much worse, then you will loose money on exchange. Transferwise is ok for smaller amounts, but for 50k and more, their cost is comparable with the airplane ticket when moving money in a backpack and flying to Europe. TW is still good for a few hundred $, in comparison to Western Union which is charging 8% fee and it has a very low limits of transferred amounts.

[@MrJulianDS]

Very good practical video!!! Do you have any video on how to open a bank account online in Canada? did you open Tangerine in person? Thanks for your contribution!

[@derekgargan5080]

I have used transfer wise for some time now, sending money from UK to Spain. A couple of points, do transfer before bank opens, I do mine before 0800 UK time, I normally get the money in Spanish bank about 15 minutes later, longest I waited was two hours. Transferred money does not actually leave the country, my money goes into UK account and they tell a euro account to pay me so no borders to cross, rates always good fees come out of the amount transferred .£ 1000 bank bank costs me £12 transfer wise about £4.

[@CreativeNomadTV]

Good info! Thanks for sharing.

[@criartoros]

Great account Transfer wise. You could really BLOW lots of international banks out the water. If you one day offer the options with this account for customers to do Direct debits so customers can pay their bills on 2nd homes abroad you'll be onto a winner. Thousands will close their foreign bank accounts. Now there's a market for you. Watch this space...

[@kgillen3202]

Great info on sending to yourSELF. What about sending to another party? What tips, suggestions, etc.? Thx.

[@CreativeNomadTV]

Transferwise has the option to send money to someone other than yourself. See the screen at 1:42 titled "Who are you sending money to?". If you know the bank details for the recipient, you can fill them in yourself when setting up the transfer. If you don't know their bank details, then you need to provide the recipient's email address and TW will send them a form to fill in their bank details themselves. Either way the recipient needs to have a bank account to receive the funds.

[@shaidulhussain7034]

can you transfer between two tansferwise customers ? I am from uk and the person I want the money to go to is in the us, he has. transfer wise too, will this be the best method instead of making a payment from transfewise once currency is converted instead of transferring to their us personal account ?

[@CreativeNomadTV]

As far as I can tell there is no speed or cost benefit to sending money to a TW customer vs some random bank account. Either way the US dollars will come from a local bank in the US. So I suggest you send the money to your friend's regular bank account.

[@alistairthomson8710]

Thanks for that. Just been arguing back and forth with Transferwise support because I didn't use that 'Pxxxxxx' prefix on my deposit. DOH!

[@CreativeNomadTV]

Hope they resolved the issue in the end. That reference number is really important!

[@alistairthomson8710]

@@CreativeNomadTV Yeah, all good, no complaints. Excellent service once I knew how to use it.

[@indersingh5454]

Thank you so much for the wonderful video and tips! But one thing, Transferwise doesn't convert your AUD into CAD, in fact they will transfer CAD from Transferwise Canadian bank account to your Canadian bank account...

[@CreativeNomadTV]

That is correct. Transferwise (and other so-called 'peer to peer' transfer services) dont technically move money across borders, they just pair customers with opposite transactions together. However, to keep my explanation simple, I decided to skip that bit as I felt the video was long enough as it is. :)

[@billyflanagan9657]

I'll be transferring money from usa to Ireland what currency should I choose?Thanks

[@jn4z]

Nicely done! Could this be used as paying regular bills to foreign companies? Sick of paying high bank fees all the time. Cheers!

[@CreativeNomadTV]

Transferwise is meant to have a bank account as the recipient for transfers. If you have bank details for the company you want to pay, you could use Transferwise to pay them.

[@bernardocasso3524]

Hi Jonas, There are different ways for you to program foreign bill payments on a regular basis without all the hassle. If you're interested in this service, please let me know, we work with world class regulated entities. [e-mail] Regards.

[@diegoenriquecastagnogonzal5919]

I am doing a research about digital bankings for university. I would like to know why transferwise allows to top up the cards with our own debit card? This impplies that a merchant fee will be applied to transferwise each time I top up the card. Why don't they just allow bank transfer? Thank you! Great video!

[@teaforthree1]

Absolutely brilliant, really helpful

[@CreativeNomadTV]

Thanks Henry!

[@antonyrajarathinam9976]

Good video with easy explanations !! But when I tried the fee is too much and there is a limit to send the money.

[@CreativeNomadTV]

Transferwise usually has very high limits and the limits are often per transaction or per day... Also I'm curious where you found a better deal than Transferwise? Usually they are really competitive on fees/exchange rates (spread).

[@antonyrajarathinam9976]

@@CreativeNomadTV : Checked to send money INR -> US. Compare to Transferwise, I found ICICI bank a better service fee. Also , I found fees better for UK + EURO + CANADA few countries compare with Asian countries.

[@CreativeNomadTV]

Make sure to compare the exchange rates, not just the fees. Banks sometimes charge low fees but have terrible exchange rates than can add sometimes 6-7% to the cost of the transfer.

[@evansandrewgoment]

I have been very faith with using transfer wise for over 2years now , but right now I found out that other organisations are much higher in respect to the Nigerian Naira and the Euro . Please explain this .

[@CreativeNomadTV]

Care to share the name of these other organisations so that others can benefit too?

[@irenets1752]

Thank you for your video. Does TransferWise provide such documents as transaction/receipt/invoice?

[@jessicangan3849]

Where’s the link of your referral?

[@Olivier-GM]

Merci pour la démo, Xavier. Ça m'a été très utile !

[@CreativeNomadTV]

Content de t'avoir aidé!

[@CreativeNomadTV]

Oui. Si tu as des Euros sur ton 'Borderless Account' Transferwise (par exemple un client en Europe fait un virement pour te payer en Euros), tu peux ensuite facilement faire un virement de ton compte TW en Euros vers un compte au Canada en CAD. (Balances -> EUR -> Send EUR -> Choisir son compte au Canada comme destination)

[@lacikawiz8369]

Thanks, mate! This is really good and informative! I wonder why Transferwise doesn't have a video like this, just the marketing video which doesn't give any details.

[@CreativeNomadTV]

Thanks for the good words!

[@bonitajordan6825]

Helpful. I’m trying to do my very first transfer from Canada to Uk. I have the sort codes entered but nothing else happens. No where to enter the account number & proceed to the steps you’ve outlined. What do I do now?

[@CreativeNomadTV]

Once you are logged on TransferWise, go to Activity on top left, then 'send money' (green button) and follow the prompts like shown in the video.

[@ryantabor3026]

If for example, I am an employer and I want to send money to my employee's bank account using TW, does my employee need to create a TW account or do I just provide the bank details upon sending the money, et cetera? Thanks for the awesome video!

[@CreativeNomadTV]

Hi Ryan, yes if you have your employee's bank details (I guess in a different country than yours) you can use 'someone else' as the recipient and TW will deposit the money in their account.

[@RonBrumleve]

My girlfriend was injured while in Poland. Would the Wise card be a good way to pay the hospital bill there in Poland? What about purchasing her airplane tickets to travel from Poland back to the USA?

[@matrixmodulator]

Can i send USD from paypal to transferwise, and convert using their better rates, then transfering it back to my paypal in CAD ?

[@CreativeNomadTV]

You could in theory open a borderless account with TW in USD, use your virtual US bank details to deposit USD from Paypal. However since CAD borderless accounts do not have virtual bank details (yet!), you will not be able to send CAD to paypal without sending CAD to a 'real' canadian bank account first.

[@berengeregonin5687]

Thanks a lot for this great video explaining things clearly and even with humour! I watched it several times so that I could integrate all the information. Many thanks!

[@graceyabo392]

Hello, I don't know if you're familiar with red bubble payment options, if you are, can transferwise be used to receive payment from red bubble?

[@kevin.afton_]

And how do you get your money on the other end?

[@MyOrangeString]

so clear and concise, thanks!

[@katieblansch8913]

do you need the same name on the debit card and the transferwise account?

[@Ak_11.22her]

easy to understand! good job! well done!

[@CreativeNomadTV]

Thanks!

[@meinhd1483]

Any hidden fees when transferring money from Transferwise to your personal account (after receiving it from someone else?)

[@CreativeNomadTV]

If you mean transferring money from your TW Borderless Account to a 'real' account, then regular TW conversion fees will apply when you convert your currency. Fees are usually low and quite clearly shown before you commit to the trade. I've never had my bank charge me for receiving money from TW (they dont know it's TW... It's just a local transfer to them).

[@meinhd1483]

@@CreativeNomadTV Thank you so much for the answer.

[@ndea2005]

Very clear, but when does the receipient have the money in the bank so that they could withdraw ? Is it in a couple of days or hours, please clarify. Thank you

[@eskiltester3913]

Nim De Alwis usually within 24hours. max 48.

[@CreativeNomadTV]

It varies a lot depending which countries are involved in the transaction. It can be within 24h but can take a few business days on some routes. Transferwise will give you a time estimate before you commit to the transaction.

[@ga8697]

No..not really fast. I have my account details in transferwise. I had sent once before.Now when i sent money from Singapore to Australia (to my own account)..i was shocked when i saw transfer is complete But i could not see it in my ANZ acct. When i kept using the app to see what has happened...i found that money was sent to Transferwise's ANZ acct and NOT my account...it has been more than 28 hours and it is now the week end and believe me i had tried as many as 10 times trying every help line ..i see in the app.. to get in touch with some one from Transferwise/email/ chat (doesnot work), call (does not work) etc.Nothing works...i dont want to park the money in transferwise...its not about verification etc as all that is cleared..also i have sent once before about 6 months ago. .so why did the bank account details of Transferwise Australia added in between??!!!. MY bank details are still there in the system...I certainly did not type in those details of the Transferwise's bank account (BSB number/ Account Number etc.)....And worst of all is there are no email support as well to my queries, i sent, from the time the app showed as money successfully transferred!!! since that info..i.e.it has been more than 24 hours...i tried clicking on every transferwise help centres etc even in other countries as shown.. bec of the time diff ...trying to get some explain or let them know....no help ...i sent emails with all the reference for the transfer...nothing..no replies to the emails sent 24 hours ago...

[@purenkool2024]

US Economic Impact Payment check - could I deposit it into my TW Account? I am in UK.

[@CreativeNomadTV]

If you have a paper cheque, you will not be able to deposit it in your TW account. If you have the option to specify direct deposit, then you can create a USD borderless account, get USA bank details and use that for your deposit account.

[@Rachidasister]

I am not sure if I miss this but you did not talk of receiving end. How and in which form do you receive money from Transferwise?

[@CreativeNomadTV]

The money gets deposited automatically in the recipient's bank account.

[@Rachidasister]

@@CreativeNomadTV What bank info do I need from the person I am sending money to? Is it possible to send as mobile money? Some country have that. Thank you.

[@CreativeNomadTV]

Usually you need bank account details (account number, IBAN, SWIFT code, etc...). The information required is different for each country. More info here: bit.ly/creativenomad_TW5

[@iuliiakertesz2973]

Hi, thank you for the video! the only what is still not clear for me - what type of account I should choose when I make a bank transfer to TransferWise (personal or business account)? (I'm in the UK)

[@petemiller519]

If you're sending it then personal, if your business is sending it, then business. Capiche?

[@iuliiakertesz2973]

@@petemiller519 Capiche! Thank you!

[@SuperDeendyal]

Does TransferWise maintain their own reserves to exchange here and there? The question is how really they are able to provide better rates than banks notwithstanding banks are primarily into this exchange business at the outset?

[@CreativeNomadTV]

They are able to beat banks because behind the scenes they dont really send money internationally. They have hundreds of local bank accounts across the world and they match opposite transfers together. So when I send AUD to Canada, my AUD never really left Australia... It stays in Australia until they need it for someone else who sends some other currency to Aus. On the other end, they just wired some CAD back to me after someone else sent CAD (which never really left Canada) to some random country.

[@rejoicemultimediaimages]

So does this transition works anywhere in the world to send money to US?

[@CreativeNomadTV]

List of supported countries here: bit.ly/creativenomad_TW5

[@akkafietje137]

in his example, does de canadean bank charge something if it receives the money ? can you say, "transferwise" charges 1% of the transfer money ?

[@CreativeNomadTV]

In this example my Canadian bank did not charge me any fees because it received the money via local transfer from Transferwise's local Canadian bank account.

[@chamboyette853]

My question, for which I have not been able to find a response, is that I usually send money from my American account and it is usually automatic. This time, however, I wanted to send it from my Portuguese account. How do I change the bank from where I am sending it?

[@CreativeNomadTV]

Setup the transfer from the TW app or website first. At the end of the process Transferwise will ask you how you want to send in money. Usually you should have the option to use bank transfer (you will be provided bank details on where to send money from your Portuguese bank) or you can use your Portuguese ATM or Credit card send in smaller amounts.

[@chamboyette853]

@@CreativeNomadTV You misunderstood the question. I have 3 recipient banks already and one bank from where I send the funds. I just wanted to send it from a different bank in a different country.

[@mykhailoshpakov6487]

Can you tell me. The person I send money to , must necessary have separate transfer wise card or even regular bank credit card is okay ? I want to send money from Italy to Russia , on the person's credit card from my own (prepaid ) bank card. Can somebody tell me, if I can rely on transferwise ?

[@CreativeNomadTV]

The recipient does not need a Transferwise account. Transferwise can send to regular bank accounts or cards in Russia.

[@mykhailoshpakov6487]

@@CreativeNomadTV Thanks ;)

[@Truthistruth581]

i want to send money to Nigeria bank account is asking for IBAN i need help

[@joaquimbraz941]

IBAN: International Bank Account Number, the Nigerian Bank Acc. that you want to send money have a Bank Acc. Number, IBAN and Swift Number you just have to ask the Bank to provide them to you cost-free.

[@mrzoot12]

to a prince perhaps?

[@charlmarkane7681]

Hey mate. I have a question, when you transferred through a debit card, how long did it take for you to receive it? Is it 1 to 2 days just like the bank transfer?

[@wouterwoets1736]

a minute or two

[@CreativeNomadTV]

If you send in money to transferwise via debit it's usually very quick (minutes) but sending out to a bank account can vary widely between destinations (minutes to hours to days depending to which country you are sending to).

[@charlmarkane7681]

@@CreativeNomadTV oh wow. Thanks!

[@honeychick4ever280]

I live in the States and I would like to get a transfer wise debit card because I'm going to Greece on vacation. Do I have to open a bank account in Greece too? Great video😊

[@Truformable]

@CreativeNomad what recording / editing software do you use to pixelize private info? Thank you!

[@CreativeNomadTV]

Editing was done in Adobe Premiere

[@Stingsz123]

The debit card used, can it be from any bank or credit union?? Or it has to be the Transferwise mastercard?

[@PetrieMitchellJr]

Your demonstration was helpful but doesn't look like what my options are transferring US $ to € in France. I don't see the debit card or the POLI options.

[@CreativeNomadTV]

Each countries have different options to 'send in' your money to Transferwise. POLI is definitely Australia-only. In the USA, Transferwise allows you to 'send in' money via ACH Bank Debit or domestic wire transfer.

[@priztucker]

Thanks for the vid. But am I able to transfer from Transferwise to Payoneer?

[@CreativeNomadTV]

I'm not familiar with all the details with Payoneer, but from checking their website it seems like they give you local bank details similar to TransferWise's Borderless Account. In theory you could use your Payoneer bank details as your recipient for a TW money transfer.

[@priztucker]

@@CreativeNomadTV Thanks

[@jeffreyd508]

Good vid, thx. It seems like the fee is about .7% for your example, using two different currencies. Is it cheaper if you go dollar to dollar, euroo to euros etc? . Thinking that for bigger amounts, a regular bank wire is cheaper. For exaample, in my situation, a bank wire is 35usd to send and 25usd to receive, total of 60usd for dollars to dollars. So sending 10k usd would be about 70usd at transferwise, and only 60usd for a tradtional wire. Does this sound correct?

[@CreativeNomadTV]

Transferwise is intended mainly for currency conversion. If you are not exchanging different currencies, regular bank transfers are probably cheaper? If you are comparing currency conversions however, dont forget to compare exchange rates as well as fees though.

[@inglescomoyoquiero]

Awesome video. Thanks.

[@JosifB]

When I put in my banks information ( recepient ) it only asks for the banks IBAN but not my account number. How will I receive the money on my account this way?

[@danieldevos9814]

The iban code IS your account number

[@federicavillella3266]

If I need to send money from my american bank account to my N26 do I have to use transferwise before? does the american bank charge a fee for the transfer? Once I get the money on my transferwise account and I send it to my n26 card, do I have to pay any fee other than the exchange rate? I am working in America for a year and I'm trying to figure out the cheapest way to send that money back to Italy

[@CreativeNomadTV]

It seems that Transferwise has partnered with N26 and has Transferwise already integrated into their mobile app (from what I gather on their website). Anyways, you can use Transferwise to send money to any european account from the USA. Once you have a TW account open, simply setup a transfer, then transfer money to TW's local american account (your US bank shouldnt charge you for this) and let TW take care of the rest. Euros will be transfered to your N26 account from TW's European bank account automatically. You dont have to have money in a TW balance if you dont want to.

[@Rachidasister]

Wait a minute: are you starting at TransferWise to send yourself money from your Australian bank? You video is very clear but I want to make sure I understand why you did this. I guess this is because it may be less costly than to go to the bank and do a wire transfer.

[@CreativeNomadTV]

Yes exactly. I worked in Australia and I needed to send money home to canada. Transferwise is *much* cheaper than using the bank the do an international wire transfer.

[@CreativeNomadTV]

To see how banks hide their fees in the spread check out my other video on the topic: kzbin.info/www/bejne/fX-TapeXYsZ9aaM

[@gailraszewski445]

Is it better or cheaper to use a debit card or go directly to the checking account number?

[@CreativeNomadTV]

Bank transfers are usually a bit cheaper and have higher daily limits. You can compare fees when you setup your transfer.

[@tellyjr100]

Question: Are the fees deducted from the transfer or charged on top of the transfer?

[@derekgargan5080]

From transfered amount. You won't notice as its a good exchange rate and low fee.

[@GamerFromJump]

You can do it either way. If you want your recipient to get exactly the amount you intend, enter it in the “recipient gets exactly” line, and the amount you need to send will adjust to the proper amount so that the reminder after fees is exactly that. If you want to spend a precise amount, enter that into the “you send” line and the recipient will get what’s left after the fees. For example, if I want to send €100 to someone by using $US: Method 1: You send exactly $100 -$1.12 fees = $98.88 converted x 0.932950 exchange rate = €92.25 received Method 2: recipient gets €100 -1.16 fees = $107.19 total we’ll convert = you send $108.35 You can choose which method fits your situation.

[@tonyjacques4167]

Hi, great video, I love Transferwise. It has changed my International life and especially helped in Covid times. One question, any idea how to amend an existing payee's details ? I need to change an email adress of the payee and trying to avoid deleting the payee and resetting up. Thanks.

[@lenasilk8605]

hey, you can email TW directly and they'll change it for you

[@helenebar]

ich mag transferwise, bloss die videos und erklärungen wünsche ich mir in deutsch ;) I like transferwise, just the videos and explanations I wish in German ;) best wishes Baranyai

[@learnarabicwithteena373]

Hello there,, can we send the money to Saudi Arabia? and do i need to have bank account to sing up with them ?

[@realitycheck2669]

Does transferwise work with ebay managed payments?

[@bbrocs1]

can i just store money on transfer wise platform? in a few different currency? like 50 EUR for a rainy day or do I need to immediately send it to someone?

[@CreativeNomadTV]

With the 'borderless account' feature you can now store some money in your TW account and transfer it out when it's convenient or when the exchange rate is more favorable.

[@randumichel]

I’m trying to Buy UK pounds I’m from the US but when I get to London how would I Cashout the money I transferred ???

[@CreativeNomadTV]

If you are relocating to the UK, you need to have a UK bank account to receive the funds, then use the UK ATM card to withdraw the funds. If you are only travelling for a short time, money transfer services aren't the right solution.

[@franciscourrutia8688]

@@CreativeNomadTV in the meantime the funds are located in a virtual transferwise account? Until you open the UK "physical" account.

[@CreativeNomadTV]

You can 'store' UK pounds in a TransferWise 'Borderless account' until you are ready to transfer out to your local bank in the UK. If you are a resident of the UK you can also order a Transferwise Debit Mastercard to use funds from your Borderless Account in shops.

[@Das0000]

Later , when I have to complete the receive registration with my name, address and etc. do I have to complete all the information on English or I have to complete it on my language ( for example I am from Bulgaria)

[@nathanwhite8355]

I'm moving to Mexico I didn't have an account there yet. So how would I get money when I get there.

[@mariagarcia-hs9fw]

Hi, The receiver of the money needs to have the transfer wise app or only the sender?

[@CreativeNomadTV]

Only the sender needs a TW account.

[@phoenixbluex]

Is there a way to transfer USD to another country without changing the currency? I don't see that option on their website.

[@CreativeNomadTV]

Transferwise is really meant for currency conversion. If you want to send USD to USD then I guess an international SWIFT wire transfer may do what you need.

[@phoenixbluex]

Thanks. My bank doesn't support international wire transfer so I was hoping I can use TransferWise. I guess I have to either convert the currency or sign up for a different bank.

[@srbabaie1]

I have a question. I’m not sending money but somebody wants to send money to me. Do I have to have a transfer wise account?

[@CreativeNomadTV]

If someone in another country wants to send you money, you have 2 options: 1) they can open an account with Transferwise, get your bank details and use your account as recipient for the transfer. 2) If the money is being sent from the UK, Eurozone, Australia or USA, you could open a Transferwise Borderless Account and give your virtual bank details to the person that wants to send you money. Then they can do a local wire transfer from their regular bank to your borderless account. Then you can convert and send yourself the money to any currency/country supported by Transferwise (not just the 4 listed above).

[@lampmediasolutions]

Well explained. Thanks, mate!

[@CreativeNomadTV]

No worries glad to help!

[@jenartistic6443]

so would it not be easy for hackers to get our info and cash for debit or credit? what is "POLY"?

[@CreativeNomadTV]

Using a debit/credit card to fund a transfer is as secure as using your cards for online shopping. Usually Visa/Mastercard have good policies if someone makes an unauthorized payment on your card. For small occasional transfers using a credit card is fine. For large amounts bank transfer is the cheapest. POLi is an Australian specific payment platform. I would not use them.

[@jenartistic6443]

@@CreativeNomadTV thank you! i searched for reviews for Wise and found out so many negative reviews😅 at consumeraffairs.com so i changed my mind😅

[@RemitTV]

Are you still active on youtube or you left youtube nowadays? we are not finding your new videos so. how can we connect you?

[@CreativeNomadTV]

I still monitor comments but my day job keeps me too busy to produce new content at the moment.

[@progmandev]

love this detail so much

[@CreativeNomadTV]

Glad you like it!