Wise: The Best Way to Send Money Abroad (TransferWise)

[@AccountingStuff]

About a month after releasing this 'TransferWise' rebranded to 'Wise'. Clearly I didn't get the memo 😅. Anyway, the process hasn't changed so I hope you still find this helpful. ⏱️TIMESTAMPS 00:00 - Intro 00:23 - Logging in 00:33 - Homepage 00:53 - Converting GBP to AUD 01:14 - How to do a Low Cost Bank Transfer (Part 1) 02:29 - How is TransferWise so Cheap? 02:57 - How to do a Low Cost Bank Transfer (Part 2) 08:02 - How to do a Fast and Easy Debit / Credit Card Transfer 08:57 - Is TransferWise Safe? 09:07 - The Next Day

[@TheGippy30]

James a video i need is, about share being issued, all the different types, and the impact they have on the books of the business issuing them, thanks

[@VS-2002]

I usually watch ur videos for my accounting studies but who knew u made a great video on this too! Totally needed this simple explanation only a few like you could do

[@r.a.p.h4481]

In 2015 I used Paypal to send money from Germany to India. This looks way better than Paypal. Especially the Option for Businesses. Good Tip James!

[@AccountingStuff]

I use both PayPal and TransferWise. Both have their advantages, but I find TransferWise much cheaper for converting currency

[@digitallocations1423]

With Transferwise they can lock you out of your account without providing a reason.

[@abhilashm377]

Hey bro, thanks for ur videos especially for the accounting basics videos. I have been searching for a job since this lockdown started, to get a job during that period is something that we are trying to get achieve some treasure. Whatever it is I concentrated ur accounting basics videos and now I'm working in a big company with a happy profile. Thanks for ur commitment, and looking forward to seeing ur more powerful and useful videos.

[@didi85515]

Hell yeah! Congrats man!

[@AccountingStuff]

Congrats!!! That is amazing news. Hope it's all going well :)

[@vlogbyvisakh3413]

@@AccountingStuff Yeah it's going well

[@AccountingStuff]

@@vlogbyvisakh3413 Nice one! Glad to hear it

[@darielboston6553]

You all probably dont care but does anyone know a method to get back into an instagram account? I was dumb forgot my account password. I would love any help you can offer me!

[@stevenmeyer4811]

Thanks James for the information and tips! However I found out the process isn't that simple with small US bank accounts. Wise works best in the US if your accounts are with major banks. It's more complicated if your bank account is held with smaller and local banks who may not have the option for you to make bank transfers through your online banking to accounts outside their bank. So check that out first. You might have to go through your smaller bank's online automatic bill pay service and try a transfer from there. Also had trouble going through the Bank ACH option. Your bank might take a couple days to verify TransferWise and you'll probably be talking with your small bank during this process. I suggest opening an account with a major US bank (among those listed on their menu) if you want TransferWise to work this smoothly and if you are planning to make regular transfers.

[@AccountingStuff]

Some great points! Cheers Steven

[@stevenmeyer4811]

@@AccountingStuff Thanks for comment reply, James! Cheers to you as well!

[@dongheng6613]

I live in Cambodia. My boss wires money to my Cambodian account from England. I get charged $10 every time. It's annoying!

[@amnaashfaqmalik2783]

Much appreciation for you. Helped me a lot for CE Exams. Please upload more videos soon related to Strategic Management accounting and its workings.

[@AccountingStuff]

Cheers for your request!

[@APNow]

Great that you get to see it, while he explains.

[@muniiiii]

James do a video on ratio analysis using Balance sheet.

[@AccountingStuff]

Will do!

[@sparksflyeat]

I know you haven’t made any videos about management accounting but would a video about budgets! Thanks man

[@AccountingStuff]

Cheers for your request!

[@kin-c72]

Hi, great video. Can I ask? I am planning to live in Thailand and use Wise to transfer money to a Thai bank account, however, like yourself, if I am abroad and I do this transfer to Wise from my UK bank account, don't they normally send a text to confirm the transfer? if so, how do you receive that? or do you keep a British mobile number abroad?

[@martins4083]

Do you choose "domestic" or "international" payment when depositing money from your UK bank account to TransferWise. Does your UK bank charge any fees for this transaction?

[@tapchip5843]

Thanks for the help! Could you please do a video on how to do accounting in the multiple currencies, have trouble trying to figure that out!

[@KraryShortsOfficial]

Bro plz make a video on stock exchange business

[@AccountingStuff]

Thanks for your request!

[@zamf]

You should make a follow-up video on how to write these transactions in the ledger and what happens when you convert one currency to another and then back to the original currency and the profit/loss associated with it.

[@AccountingStuff]

Cheers! That's a great idea

[@thechartguys6465]

For Tips and supervision in-box W`a`t`s`a`p + ..1.._5_1_7_7_0_1_4_2_9_5✓✓✓

[@luisalzuablanco8245]

I have been considering a accounting graduate job and I stumbled across your videos. Then I found out you decided you were also a final year physics student when you made the same choice😂 What type of accounting did you choose and why? If you had the choice to start again, would you do the same one?

[@TheGippy30]

James I desperately need your help, please do a video, on share issue, ordinary, reserve and bonus and the effects it has on accounting equation, I would be extremely grateful as I’m struggling to get my head around this and there isn’t a good video explaining it on youtube

[@AccountingStuff]

Thanks for your request!

[@yttube5165]

Did your bank charged a transfer fee when you sent to Wise account?

[@stevejones3864]

Excellent video….very clearly explained…thank you 🙂

[@AccountingStuff]

Glad it was helpful!

[@garrylai6757]

Can you tell us , your qualifications and steps on how you became an account

[@AccountingStuff]

I'm an ACA with the ICAEW. I first did a grad scheme in Audit at the Big 4 before moving into Financial Accounting

[@ricobalboa5288]

Excellent video

[@thghho]

Hi, I have an e-commerce website in UK in GBP currency. I want all transactions to go to USA bank and keep the payment in GBP not in USD. So please let me know if you have any solution to this? Thanks

[@ladev91]

Love your vids

[@AccountingStuff]

Thanks!

[@AAAtaGam]

James, it is easy when you have USA, Canadian, UK, EU citizenship and have bank accounts there... Try to transfer money if you have citizenship of an Asian or African country. It is a real pain.

[@TheGippy30]

James i need your help please, why are refunds on the left of sales ledgers and on the right of purchase ledgers, this seems abnormal to me, please help

[@cavadaliyev1299]

Hello James.I like your videos and Thanks for everything.I would see videos about control account and suspence account

[@AccountingStuff]

Thanks for your request!

[@realitycheck2669]

Does transferwise work with ebay managed payments?

[@muradsalahli5684]

Hi, thanks for the video! I have a question. Does TransferWise work in Azerbaijan? For example, you can send money to abroad with the help of PayPal, but you cannot receive any money. What about TransferWise?

[@AccountingStuff]

Hey there! You can check the lists of countries on these links: ▪ What Countries Can You Send To → wise.prf.hn/l/rvgwMzE ▪ What Currencies Can You Send To & From? → wise.prf.hn/l/7Bv5L1o

[@muradsalahli5684]

@@AccountingStuff thank you!

[@ektaverma8907]

Good job very helpful video ✌✌✌✌✌

[@AccountingStuff]

Thanks Ekta!

[@thechartguys6465]

For Tips and supervision in-box W`a`t`s`a`p + ..1.._5_1_7_7_0_1_4_2_9_5✓✓✓

[@petrachaloupkova1361]

Hello, nicely done video, thou it failed to help.... I just set up the account - app. And wanted to send money... Selected the amounts.. Recipient... Was expecting to be asked about where is the money going to go from... I don't know what happened, but nothing like this popped up and I am lost at hoe to continue... Any advice anyone??🙏🙏🙏 I am just super unsure, think I don't get the principal here🥺🥺

[@TheGippy30]

James where have you been, I’ve missed your help in my first year of my accounting degree

[@catherinetaylor3589]

Soameone posted this guy *smithjuli* on telegram and I tried him he is real💯✅

[@shannchowdhury8748]

Sir please make a video on provisions and reserves

[@AccountingStuff]

Thanks for your suggestions :)

[@Emma-tn5el]

Hey your videos are great, any plans to make some videos about business budgeting?

[@AccountingStuff]

Hey Emma, thanks for your suggestion!!

[@agunghardi5836]

yeah bro i have a request, could you make a video about financial accounting?

[@AccountingStuff]

Here you go... kzbin.info/www/bejne/r4q7ZZWshrikmNE

[@westernugmedia.1305]

Thanks james

[@AccountingStuff]

No worries Bruno :)

[@thechartguys6465]

For Tips and supervision in-box W`a`t`s`a`p + ..1.._5_1_7_7_0_1_4_2_9_5✓✓✓

[@ahadali470]

Hi ur videos helped me for financial accounting, can u make videos for managerial accounting, Thank u so much

[@AccountingStuff]

Thanks for your request!

[@TravelAdventuresWithLinda]

Hi James. I clicked on your affiliate link. Small commission going to you. :)

[@TravelAdventuresWithLinda]

The recipient requested money to USD but I'm USD also. It won't allow the choice. Any suggestions?

[@AccountingStuff]

Thanks Linda! If you're doing USD to USD then you can probably do a regular transfer with your own bank. Otherwise, Wise can do this as well

[@azeemhassan1066]

How i can delete my Payment method from Wise?

[@laszloneduka8875]

Thank you.....

[@raj_manash11]

Nice video 🎥🎥

[@AccountingStuff]

Thanks Manash!

[@thechartguys6465]

For Tips and supervision in-box W`a`t`s`a`p + ..1.._5_1_7_7_0_1_4_2_9_5✓✓✓

[@ingridaholmes]

Such an excellent explanation, thank you so much! Though, I still have an important question to ask: can the receiver stay anonimous to the sender? If not, could you please name any platform(s) where this may be possible? I'm doing freelance work and want only my pseudonym to be seen and/or used on the sender side. I hope this is possible 🙈 P.s: PayPal is not available to me, in Turkey.

[@cinematicfilm6559]

how to send money from transferwise usd balance to other transferwise balanace ?

[@AccountingStuff]

Click on the currency you want to change and then click 'convert' at the topic of the page.

[@TechToolss]

My US friend wants to send me some money, I'm from Pakistan and moneygram didn't work, it's not allowed to receive money from a foreigner in Pakistan,

[@timrosandick491]

good job

[@AccountingStuff]

Cheers Tim!

[@earlvanfleet3501]

how do I contact Wise to get a receipt from my botched transfer?

[@AccountingStuff]

Have you gone to their help centre?

[@earlvanfleet3501]

@@AccountingStuff first thing I did, they have 200 tar in my account there but can not find the first and only transfer I did there, most people ask me the same thing, so like I said they are no help, I think the Better Business Bureau will take care of it from here although I have a few more responses to check first I have 15 hours of beating my head against a rock trying to contact them and every time the tell me the same thing as you said, go to the help center

[@AccountingStuff]

@@earlvanfleet3501 Sorry to hear that you're having a rough time with them. Hope it gets sorted soon!

[@gw8755]

Is it valid in Europe as well?

[@AccountingStuff]

It sure is. You can find the full list of countries on the website... transferwise.prf.hn/l/6loXded

[@thechartguys6465]

For Tips and supervision in-box W`a`t`s`a`p + ..1.._5_1_7_7_0_1_4_2_9_5✓✓✓

[@romansohal7087]

I send money to bnk account but he can't receive plz help me

[@digitallocations1423]

They have deactivated my account after receiving my money. I honestly know they are changing their name to avoid being tagged in bad reviews like mine.

[@mariamijares986]

Can someone send me money like a wire transfer?

[@mariaandreinaaguero305]

No dan garantías si te hackean la cuenta... no usen este recurso. Son ladrones, inseguros e irresponsables. Pésimo servicio.

[@laszloneduka8875]

Thank you.....

[@AccountingStuff]

You're welcome!