Most providers show you their transfer fee upfront. That’s only fair. But some of them sneak a markup into the exchange rate. And that’s not fair.
A markup means you get a bad exchange rate, which means you lose money when you change currencies.
At TransferWise, we never mark up the exchange rate. We just use the exchange rate – independently provided by Reuters. That means fair, low-cost transfers, every time.
All you need is your recipient's:
For example, you need an IBAN for Euro transfers, a SORT code and account number for the UK, a routing and account number for the US, and account number as well as an IFSC code for India.
TransferWise is an Electronic Money Institution authorized by the FCA (Financial Conduct Authority) in the United Kingdom.
We are obliged by law to protect the money by keeping it in a low risk financial institution: in Europe we do it in our bank account in the Barclays Bank of the United Kingdom, in the US, in our Wells Fargo account.