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I and most people in my circle of friends use Transferwise on a daily basis, multiple times a day. It has replaced our "traditional" bank cards. FWIW, I totall
by fookyong 6y ago
I and most people in my circle of friends use Transferwise on a daily basis, multiple times a day. It has replaced our "traditional" bank cards.
FWIW, I totally understand the bigger picture goals they describe in this post and I wish them every success.
- aikinai 6y agoHonest question, what do you do with it multiple times a day? You use it as your regular bank and a debit card or something?
- doctorfoo 6y agoI use it as my primary spending debit card. I travel a lot, use it in random ATMs and I keep it topped up just enough that I wouldn't be devastated if the account contents were stolen. Also use the money transfer side monthly to pay rent in a foreign country.
- pmfgpmfg 6y agoI used to use TW for rent as well, the fees crept up over the years, and I realized that Revolut is the way to go here. TW has become uncompetitive
- nly 6y agoUnless I'm mistaken TransferWise provide Revolut with forex on the backend, so enjoy it while it lasts
- KptMarchewa 6y agoYou are.
- benhurmarcel 6y agoRevolut just raised their fees, FYI
- fookyong 6y agoI use it for everything from: - daily spending on goods and services - electronic transfers to ewallets* - any time someone needs to send me money, I use transferwise virtual account details so from their end it seems like a domestic transfer - I even bought a motorcycle using Transferwise to do a local bank transfer. Tried it with my regular (foreign) bank first and it failed, tried it with Transferwise and it worked fine. *my traditional bank doesn't support this. They only know how to deposit to a domestic ewallet, Transferwise can do deposits in ewallets internationally
- ayewo 6y agoI think how easy it is to use their service, heavily depends on where you are based. Not all products are available in the markets TW is present in.
- kiwijamo 6y agoFunnily enough it costs more in fees for me to use Wise as my daily account so I've kept my traditional bank cards! I do suspect it varies by country. I'm fortunate in New Zealand that banks generally offer fee-free accounts with reasonable terms and conditions.