TransferWise Reviews and Comparison - Seedly
Reviews (2)
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  • Posted on 01 Jul 2019
    Was previously using Transferwise to exchange between SGD and Euros for a period of at least 3-4 months. Generally is easy to use, and creating an account was relatively easy as well (all via app/online). Con: - Transfers takes up to 1-3 working days for my money to be converted - New fees introduced this year for exchange w SGD and EUR (0.43%); and with new foreign exchange wallets coming up like Youtrip etc, don't think this will match up. Pros: - Could save an exchange rate for a few days if I'm not wrong; good if you want to hedge against exchange rate rises
  • Updated on 16 Apr 2019
    I have been using Transferwise for currency remittance between SGD and CAD. Transaction-wise, it has been good, with the exception of a couple of issues/ bugs experienced from time to time when using its app, eg. bank login failure, money transfers are terminated due to timeout etc. Adding on, its support service responds back fast within a span of 1-2 days. Note that it will takes a couple of days before the money is deposited into your destination account. Even so, its processing fee is considered the lowest among all other similar remittance and I will definitely recommend it.
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Aik Kai
Aik Kai
Level 5. Genius
Answered 3w ago
HI there, here you go:

Online Brokerages


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.