TransferWise: The Best Solution We’ve Found for International Payments

transferwise

This year, we’ve been working regularly with Alex Denning, a young gentleman in the UK who founded WPShout way back in 2009 and who is now a really, really outstanding marketing consultant.

One thing our work together exposed is the difficulty of making international financial transfers. All the standard solutions feel old and bad. MoneyGram? Bank transfer? Cashier’s check? Are those what you do? I have no idea how those actually work, and honestly they make it tempting to just send gold across on a galleon.

TransferWise feels like the PayPal for this problem: it took something almost implausibly bad and hard, and made it easy and stress-free.

The signup process is fairly onerous—I remember uploading a copy of my driver’s license, which isn’t my favorite thing to deposit onto the internet—but once you’re there it really does feel like a PayPal-type experience. TransferWise also names these large dollar savings amounts relative to doing these transfers through your bank, and I believe them: I just sent them my driver’s license, now’s not the time for doubt.

If you’re doing business internationally, definitely have a look!


2 Responses

Comments

  • Joe says:

    Hi Fred,

    I’ve been looking into TransferWise recently as the general PayPal fees and currency exchange fees are a pain. 90% of my clients pay in USD which I then have to convert into GBP!

    Hopefully, more people will start using TransferWise!

    Joe

  • Matt says:

    Its a great service. I use it several times a month. For eCommerce though I wish there was some sort of payment gateway that plugged into WordPress for it, perhaps through Woocommerce. Im sure its just a matter of time.

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