TransferWise is the clever new way to convert money to send abroad. The idea is very simple.
Instead of making one international transfer, two local transfers are made. For example if you want to send pounds to euro, instead of making one international transfer with high fees, TransferWise makes two local transfers. So you will send your pounds to our sterling account in the UK, and then we will send your money out to your euro account from our euro account, so the money hasn't actually travelled internationally.
Banks have been treating people unfairly for decades. Many charge you huge fees when you convert your money to other currencies, then hide more fees in unfair exchange rates.
TransferWise has found a simple way to bypass the international transfer fees from banks and make international money transfers transparent and fair as they should be.
The pricing is transparent, the exchange rate is the real one, the small fee is easy to spot, and we pay out locally in most cases meaning no receiving fees*.
It costs up to eight times less than what your bank really charges. It’s a little revolution.
*All payments to ZAR are sent via SWIFT payment and will most likely carry additional banking cost.