How To Make Money Online With Transferwise

How To Make Money Online With Transferwise

How To Make Money Online With Transferwise


Due to globalization, it is becoming easy to move anything from one part of the world to another part of the world, including goods, services, and even money.

There have been so many solutions to solve this problem, but most of them come at a price that not everybody would be able to afford.

If you have a global business or intend to run one in the future and you are scared of the conditions that come with opening and running an offshore account, then I have come to provide you with a solution. That solution is called Transferwise.

What Is Transferwise?

Transferwise makes it very easy to run your finances across the borders of any nation without any hassle; it comes at relatively no cost, and the exchange rate is relatively moderate.

You also get a chance to open an offshore bank account with top banks in the UK, Australia and The United States Of America.

There is no documentation needed to get started apart from your full name, email and address and some very few validation processes that require your international passport.

You also get the chance to withdraw your funds to your local bank account in your residential country; this makes it easy to run and get started from any nation of your choice. It is entirely borderless and seamless.

Why do I need a Transferwise account?

Transferwise, unlike any other global fintech startup, is relatively borderless and seamless. But, as stated earlier, it also comes with excellent features.

1. Transferwise allows you to move money from one part of the world to the other.

If you want to transfer money from one part of the world to the other part, then you can get started transfer-wise

You can move money from your present destination no matter what country you are first-world nation to a third-world nation.

2. Transfer wise supports Multi-currency and Offshore Accounts.

Do you have a global business, or do you want to be able to bank money in foreign safety, then you can get started with Transferwise.

You have access to banks with substantial banking names like Barclays and others. You can create as many bank accounts as possible and get your funds transferred to whatever location you are.

Also, coupled with the fact that you can open various bank accounts, you also get the chance to bank in so many currencies such as the US dollar, Pound Sterling and Euro.

3. Transferwise comes built-In with a currency converter.

The inbuilt currency converter allows you to convert over 180 currencies worldwide in real time; this feature also ensures that you are never cheated.

How To Get started with Transfer Wise.

Getting started with Transferwise is easy; all you need is to submit your details and email address. Then, follow the steps to get started.

1. Log in to Transferwise’s official website.

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To get started, you have to visit the official website of Transferwise via desktop or mobile.

You can do that by clicking the link here.

2. Click the signup button to register and get started.

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Just as you signed up for a Facebook or Instagram account, all you need to do is fill in your name, email, and password; also, make sure to set a two-factor authentication so that your account can be secured from hackers.

3. Start exploring the dashboard.

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At long last, you will be presented with the official dashboard where you get to see everything and do anything you want.

Upon landing on your dashboard, you should be able to get the details of your account, real-time transfers, send money, and run multiple borderless bank accounts.

Frequently Asked Questions About Transfer Wise.

For most people that are relatively new to this platform, there is every likelihood that you will have very few questions to ask, and here are a few questions that I think will answer your questions.

1. Is Transferwise safe to use?

To shock you, Transferwise is one of the very legit platforms out there that allows you to do more with less; for very few of us that are coming from a Paypal background, I think Transferwise will be a better option.

The Financial Conduct Authority regulates TransferWise, making it very authentic and safe to make use of.

2. How Long does Transfer take?

Moving money from your country’s border takes nothing less than a day, so you don’t have to worry.

3. Does Transferwise support my currency?

One exciting part of this platform is that it supports over 156 currencies; even third-world nations are not excluded.

4. How much does it cost?

Transferwise is free to use, and it comes at no cost at all when getting started, but minimal fees are charged on every transaction; for me, it is way better than using outdated services like Western Union.

Pros and Cons of Transferwise.

TransferWise rates itself on a simple fee structure and great exchange rates. The online system is easy to use, and users are almost universally satisfied.

Tranfserwise as a global payment platform also comes with its pros and cons, most of which will be highlighted in this section below.


Below are some of the core pros of using Transferwise.

1. It is not very costly to send money abroad; you get full transparency of all fees and costs.

2. Very fast when you make card transfers but slightly overpriced
Fixed rates are guaranteed for 24/48 hours.

3. Individual service during set up and Easy to use mobile app
Operate in significant countries.

4. More affordable than fixed fee bank account rates to transfer money


Just a few cons to go by.

1. Customer experience, essentially directed online rather than on the phone.

2. TransferWise is not vast with massive transfer amounts.


The big question that comes to the mind of every first-time user is the safety of using TransferWise to send money.

Yes, Transferwise is very safe. It is a business entity formally regulated by the economic institutions of the European Union, the United States and dozens of nations around the world.

Transferwise started as a “Startup” by the inventors of Paypal and Skype and is today one of the most valuable companies in the FinTech world.

All this success would not have been feasible without the safety of the service. Unfortunately, a singular mistake accompanied by a critical comment and, nowadays, with the Internet, this verdict will have damaged the company’s reputation.

At Transferwise, they know their strengths: price and security, so they take it earnestly. And, of course, they are approved by the FCA (Financial Conduct Authority) in the United Kingdom under the Electronic Money Regulations 2011, with Firm Reference 900507.

Another advantage, its customer service is outstanding. Available 24 hours a day and in French, so if a problem happens, it is resolved instantly.

In short, when questioned if Transferwise is safe, the answer is yes, and the security is comparable to or better than any other financial institution worldwide.


What do you think?

Written by Udemezue John

I teach you how to make money online.

You can connect with me on Twitter


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