WISE

People use Wise (formerly known as TransferWise) for various reasons, as the platform offers several benefits for international money transfers and other financial services. Here are some reasons why people use Wise:

1. Low Fees: Wise offers competitive and transparent fees for international money transfers, often significantly lower than traditional banks and other money transfer services. This can result in cost savings for individuals and businesses transferring money across borders.

2. Transparent Exchange Rates: Wise provides real-time exchange rates and transparent fees, allowing users to see exactly how much money will be received by the recipient before initiating a transfer. This transparency helps users avoid hidden fees and ensure they get a fair exchange rate.

3. Fast Transfers: Wise offers fast and efficient money transfers, with many transactions processed within hours or even minutes, depending on the destination and payment method. This speed is particularly beneficial for urgent or time-sensitive transfers.

4. Multi-Currency Accounts: Wise offers multi-currency accounts that allow users to hold and manage money in multiple currencies. This feature is useful for individuals and businesses that frequently transact in different currencies, as it can help reduce currency conversion costs and streamline international payments.

5. Borderless Account: Wise's Borderless Account allows users to hold and manage money in multiple currencies, receive payments from abroad, and spend money globally with a multi-currency debit card. This account is particularly useful for freelancers, expats, and international businesses.

6. Security: Wise employs robust security measures to protect users' personal and financial information. The platform is regulated by financial authorities in various countries and uses encryption technology to secure transactions and data.

7. Ease of Use: Wise's user-friendly interface and intuitive mobile app make it easy for users to send and receive money, track transactions, and manage their accounts from anywhere in the world.

8. Global Coverage: Wise supports transfers to and from over 70 countries and offers a wide range of currencies, making it a convenient option for individuals and businesses with international financial needs.

Overall, people use Wise because it offers a convenient, cost-effective, and transparent solution for international money transfers and other financial services. Its low fees, fast transfers, multi-currency accounts, and user-friendly platform make it a popular choice for individuals, freelancers, expats, businesses, and other entities with global financial needs.