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Business Payment Tips

If you need to make transfers from your business profile, the tips below should assist you in making sure your money arrives safely and your recipient gets the exact amount they need.

Skip to adding a reference
Skip to sending a specific amount
 

Adding a reference

When creating a transfer with us, we give you the option to add a reference in Step 4 of set up. For a lot of business transfers, this reference is crucial, so please check the table below to see the limitations on references in our receiving currencies.
 
Currency Reference Length Allowed Reference sending method
GBP 16 Characters Sent with bank transfer
USD 10 Characters Sent with ACH transfer or SWIFT transfer
EUR 35 Characters Sent with bank transfer
INR 16 Characters Sent with bank transfer
PLN 35 Characters Sent with bank transfer
CHF 50 Characters Sent via email only
DKK 35 Characters Sent with bank transfer
NOK 35 Characters Sent with bank transfer
SEK 12 Characters (25 Characters with Bankgiro payment) Sent with bank transfer or Bankgiro
AUD 18 Characters Sent with bank transfer
NZD 50 Characters Sent via email only
CAD 50 Characters Sent via email only
BGN 35 Characters Sent with bank transfer
CZK 25 Characters Sent with bank transfer
GEL 35 Characters Sent with bank transfer
HUF 35 Characters Sent with bank transfer
RON 30 Characters Sent with bank transfer
HKD 50 Characters Sent via email only
IDR 35 Characters Sent with bank transfer
KRW 35 Characters Sent via email only
MYR 35 Characters Sent with bank transfer
PHP 35 Characters Sent with bank transfer
SGD 35 Characters Sent via email only
THB 50 Characters Sent via email only
AED 35 Characters Sent via email only
COP No reference As recipients in Colombia must fill in a form to receive payment, any recipient would be aware of your incoming transfer
LKR 35 Characters Sent via email only
MAD 50 Characters Sent via email only
MXN 100 Characters Sent with bank transfer
ZAR 18 Characters Sent with SWIFT transfer
VND 35 Characters Sent via email only
JPY No reference included  
 

 

Sending a specific amount

There are two ways to send a specific amount with TransferWise.

1. With our guaranteed rate feature - available for transfers from GBP, USD and EUR. As long as we receive your money within a specified amount of time, then the rate you saw when creating the transfer is the rate you'll get.

2. Amount lock transfer - created by simply entering the amount you want your recipient to receive, and clicking the lock icon in the 'Recipient gets' box.

We then take an extra 3% on top of your deposit to cover any rate changes while we're converting your money. As soon as we pay it out, we pay you back any of that 3% that we didn't use during conversion and your recipient receives the exact amount you specified.

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