How we work to keep your money safe: update given events with SVB
This article was updated on March 17th 2023 At Wise, we know that many have been affected by the events involving Silicon Valley Bank (SVB), and we are...
Saving over £22 million in the process compared to their banks.
“Exceeding the £500m a month milestone is important as it shows a fundamental shift in people’s awareness of how banks, brokers and others take advantage of customers by hiding the real cost of international transactions.
We transfer tens of millions of customer money everyday and we have approximately two per cent UK market share of the international money transfer business. This figure is only going to grow as customers become fed up with the traditional banking sector and look for fairer alternatives like Wise”.
Earlier this year Wise received $58m in a series C funding round led by US venture capital firm Andreessen Horowitz.
The investment is being used to take the platform into new international markets. The latest currency routes served by Wise include sending money to Morocco, Pakistan and Brazil.
What is Wise?
Wise is the clever new way to convert money to send abroad. The idea is very simple.
Banks charge you huge fees when you send your money abroad. Then they hide more fees in unfair exchange rates. Wise has found a simple way to bypass the banks and make international money transfers transparent and fair. Like they should be. The pricing is transparent. The exchange rate is the real one. The small fee is easy to spot.
Try out Wise's new BIC/SWIFT Toolkit here.
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
This article was updated on March 17th 2023 At Wise, we know that many have been affected by the events involving Silicon Valley Bank (SVB), and we are...
The “Going Global” Challenge In today’s post-pandemic world where employees can work from anywhere and companies are more frequently hiring beyond their...
Juno partners with Wise Platform to bring cheaper, faster international payments to customers We are really excited to announce that Wise Platform has...
Hidden exchange rate markups estimated to cost Americans $8.7 billion in 2019 Consumers and businesses lose billions every year when they send and spend money...
We’ve just finished Q3. It’s time for an update on how much closer we’ve got to making our mission of Money Without Borders a reality.
Our mission has become irreversible, the company financially independent, and adoption continues to accelerate. Thank you - Wise customers - for...