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The company was founded in London in 2011 by Estonian entrepreneurs Kristo Käärmann and Taavet Hinrikus, who were frustrated with the high fees and poor exchange rates offered by traditional banks when transferring money across borders.
Wise has since grown into one of the world's leading money transfer businesses, with over 10 million customers and more than $6 billion in transactions every month. The company operates in over 80 countries and supports over 1,700 currency routes, making it one of the most extensive money transfer networks in the world.
One of the most significant advantages of using Wise is that the company charges much lower fees than traditional banks and other money transfer services. Wise's fees are transparent, and customers can see the exact amount they will be charged upfront, without any hidden fees or charges. In addition, Wise offers excellent exchange rates, which means that customers can save money when transferring funds between different currencies.
Another key feature of Wise is its user-friendly platform, which makes it easy for customers to send and receive money online. The platform is available on desktop and mobile devices, and users can send money to other Wise accounts, bank accounts, or mobile wallets. Transactions are typically processed within minutes, and customers can track the progress of their transfers in real-time.
Wise is also known for its strong commitment to transparency and customer service. The company is fully regulated by financial authorities in the countries where it operates, and it takes security and fraud prevention very seriously. Wise also offers a 24/7 customer support team that is available via email and chat to help customers with any issues they may encounter.
In summary, Wise is a highly reputable and trustworthy money transfer business that offers competitive fees, excellent exchange rates, and a user-friendly platform. The company's commitment to transparency and customer service has earned it a loyal customer base and has helped to establish it as a leading player in the global money transfer market.