2025-06-30 13:15:50
Авторка: Inna Svatenko 
The world is becoming global — we cooperate with foreign companies, help loved ones abroad, and make purchases online. So, the question often arises: “How can I transfer money quickly, without high fees and at a favorable exchange rate?”
Many have already found the solution with Wise. We will explain what it is, how it differs from traditional bank transfers, and how it works.
Wise (formerly TransferWise) is an international service that allows you to send and receive money transfers online. It was created in 2011 and quickly gained popularity thanks to its transparency and simplicity. The platform is regulated by the FCA in the UK and other financial institutions in various countries, which confirms its reliability.
In addition to money transfers, Wise offers:
The service works through a system of local accounts that are used when transactions are made. Money doesn't cross borders directly: you send a transfer to Wise in your country, and the other person gets the equivalent amount from the service's local account abroad. This approach saves time and reduces the cost of international transactions.
Let's take a step-by-step look at the transfer process with Wise — how the service works and where to start if you are the sender:
You can track the transfer in real time in your personal account. Moreover, the service generates a special tracking number that you can use to find out all the details about the movement of funds.
Opening and maintaining a Wise account is free. You only pay for transfers.
The commission depends on the amount, currency, recipient's country, payment method, and speed of transfer. On average, the commission ranges from $1 to $30. For example, when transferring $100 from a debit card, the following fees apply:
When using a credit card, Google Pay, or Apple Pay, the fees will be different.
Transfers between Wise accounts in the same currency are free of charge. If currency conversion is required, a small fee of around 0.4% will be charged.
Before sending money, the system always shows the exact amount of the fee, and there is a convenient online calculator for calculating it.
To open a Wise account, download the mobile app and register. You can do this with your email address or Google, Facebook, or Apple accounts. After logging in, you will need to provide your details: name, date of birth, and address.
This service is not yet available in our country.
Wise allows you to make transfers in UAH, EUR, USD, GBP, AED, and other popular currencies. However, the “Multi-currency account” feature is not available in Ukraine as of 2025.
Wise is partially available in Ukraine. Users can send money abroad, but they cannot receive transfers or apply for a card within the country.
Ukrainians living abroad have access to all Wise features. They can receive and store funds and issue digital and physical cards. To do this, they need to provide a real foreign address when registering. The service verifies it using documents such as a rental agreement or utility bill.
It is also important to remember that there are limits in Ukraine — transfers abroad are only possible from currency cards and no more than 100,000 UAH per month in equivalent.
The service has both positive and negative aspects. The advantages of Wise are as follows:
The disadvantages of the service are that Wise does not work with cryptocurrencies and requires mandatory identity verification.
Wise and Payoneer are platforms for international payments, but their approaches and audiences differ:
SWIFT is an international banking network used by traditional banks for cross-border transfers. It often includes high fees (up to 3–5% + fixed intermediary fees) and hidden exchange rate markups. Transfers via SWIFT take 1–7 days and require a bank account.
Wise does not rely on SWIFT for most transactions, making it cheaper and more convenient for users.
You don't need a bank account to send money with Wise. Instead, you can use a card or payment services from Apple or Google.
You can accept payments to your Wise multi-currency account without linking it to an external bank account or by using local details such as IBAN.
A bank account may be required to withdraw funds. It must be in the same currency and in the same name as your Wise account.
The service does not support direct transactions with digital assets. However, you can receive fiat money from crypto platforms to Wise if their rules allow it.
The speed depends on the currency, payment method, and other factors:
You can track the status of your transactions in the app.
Looking for how to exchange Wise (USD) to Tether TRC20 (USDT)?
ObmenAT24 guarantees safe and fast transfers with minimal fees. You can submit a request through our website. In just 10-15 minutes, you will receive a response and detailed instructions.
