TransferWise Reviews and Comparison - Seedly
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Reviews (32)
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  • Used TransferWise for transferring to Indonesia (for work purposes) What I love about it: - Simple to use - Easy to set-up, especially for a corporate account Most corporate services are complicated with minimal attention paid to UIUX. However, this is different as the experience is rather seamless and the follow-up from the account manager is rather swift.
  • I have used TransferWise multiple times. The platform is very good. Within the platform, we can even compare their rates against other sites. I have used it for Indonesian Rupiahs, so far. Other sites might offer slightly better rate, but their fees are much higher than Transferwise. Transferwise has always come up top. After the initial registration, it's very fast. Soon after I inform the recipient, they will already see it on their bank account. I even use Transferwise as a money changer. Their rate is competitive, even compared to the best rate amongst The Arcade money changer. I no longer need to physically carry a thick stack of Rupiahs, because the biggest denomination is $10. With such a good platform and the best value, I don't think it can get any better!
  • I have recently used TransferWise to transfer USD to a company's account in America for my property investment and it was fast, easy and cheap. Although I have to pay for a fee for the remittance, but it was really negligible since the exchange rate offered is really good compared to what I have always been offered by the banks or other companies. I have also received TransferWise's debit card recently and the bright green colour of the card is really cool...Love it! Looking forward to see how I can benefit by using this card for when I am travelling overseas. Highly recommended!
  • I opened an account with TransferWise in year 2017 , and I have recently received my TransferWise Debit Card. Pros: - Multi-country regulated remittance business. - Has comparison table with banks and PayPal to see which one yields the most currency units for the recipient. - Has USD, EUR, GBP, AUD and NZD borderless accounts to send, spend and receive money for free (Tip: If you have a ShopBack AU (Australia) account with cashback in AUD, you can instruct it to transfer cashback to your AUD borderless account and then transfer it to your local bank account while converting AUD to SGD in the process. This method gives you more SGD units as compared to using PayPal). Cons: - Some US stock brokers, e.g. tastyworks, do not allow linking of USD borderless account via ACH routing for funding and withdrawals, for Singapore clients. Highly recommended!
  • NO-BRAINER for businesses and individuals to save money by using TransferWise to transfer money overseas instead of going through the banks and incurring high costs. I'm a business owner and I use TransferWise to pay my overseas suppliers. Their sign up process was a breeze. Fee and the transfer rate used are simple, transparent and up-front. So far so good with no issues and I get immediate updates on the transfer status. The cost savings justify the need to change the way we make payments for our businesses. Every dollar saved is a dollar earned. Charity to the banks is unnecessary.
  • Lately, I needed to perform some overseas transactions and that's when I found TransferWise. Most banks' platforms arent as straightforward, but TransferWise provided a user-friendly interface and within minutes, you can make your transaction. Furthermore, once the transaction is completed on the sender's end, a very nice fluid timeline appears to communicate to you the current status. All in all, Transferwise is easy to use, hassle-free and comes with a very nice user interface. However, it does charge a little more transaction fee as compared to banks.
  • I’ve applied to use TransferWise for business purposes. Application was smooth and customer service was efficient and knowledgeable. It is not as easy as transferring money out of your account from established financial centres, which I think will be improved in due time. All in all, personal and business verifications were seamless. Card application was a no-brainer. It just takes a bit more effort to use and get used to. It’s an excellent remittance platform.
  • The account verification was so quick. I was told exactly what was being verified, by whom, from where. No paperwork nonsense. Also, really liked the touch where I didn't have to go back to my account after it was verified to pre-order the debit card. Somehow it kept track that I wanted to pre-order the card and then once the account was verified, it just did that for me anyway.
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I think you can compare Instarem and Transferwise? These two seem to get a better exchange rate than normal banks. However, CIMB may be running a promotion on the SG MY transfer? Since they are a Malaysian bank


Yes I will recommend them because it went through smoothly and the customer service was polite (though they didn't manage to solve my issue in time) I had a big screw up (my fault, not theirs) earlier. So the end of the day, I will still recommend them for their prompt transactions. For any who are keen, it comes with a free international transfer up to £500 pounds. Enjoy! Referral Link-

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Dany Leong
Dany Leong
Level 1. Freshie
Updated on 30 Jun 2019
I have. They are very good and you save loads in fees. I’ve used it to transfer 300k of funds to NZ and some large sums to Msia.
About TransferWise
Remittance ServiceTransferWise
Registration FeeFree
Transaction FeeUp to S$180k: 0.42% + S$0.76 > S$180k: 0.42% on initial S$180k + 0.32% on anything over + S$0.76
Countries You Can Transfer ToAsia, Europe, North America, South America, Oceania

About TransferWise

TransferWise is a remittance company that strives to help its customers transfer money across borders at the lowest possible cost.

How TransferWise Works

TransferWise offers 3 types of products. One time money transfers, Borderless account and TransferWise for Business. A Borderless account supports up to over 40 currencies.

To transfer, simply input the amount desired in TransferWise’s calculator and allow the calculator to calculate the transfer fee.

The creation of a TransferWise account is mandatory to remit money.

There are 3 different types of transfers that allows one to choose where to send money from:

  • Low cost transfer - Send money from your bank account
  • Fast and easy transfer - Send money from your debit or credit card
  • Advanced transfer - Send from your GBP account outside the UK

Borderless Account

The Borderless Account only requires a small fee to convert currencies in your account.

The following is free if you’re interested in having a Borderless Account:

  • Account creation
  • The holding of over 40 currency balances
  • A UK account number and sort code
  • A U.S. routing and wiring number
  • A European IBAN
  • An Australian account and BSB number
  • Receiving money in EUR, USD, GBP, AUD & NZD

The following features of a Borderless Account require a fee paid:

  • Converting of currencies: 0.35%-1%
  • Fixed fee to send money (varies by currency): S$2.30
  • Adding money into your account: 0%-0.2%  

TransferWise also allows customers to receive money with their services.

TransferWise for Business

TransferWise for Business boasts being 14 times cheaper than PayPal and lists the following features:

  • The ability to pay invoices and people abroad
  • Receive money with no fees
  • Automate work with our API
  • Integrate seamlessly with Xero

Good To Know

You can visit TransferWise’s FAQ here.

Contact TransferWise

You can contact TransferWise here.