What Is Wise?

How Does Wise Work?

Wise is the best solution if you are looking for a system for managing your finances and currency transfers. In each country, the payment service has a partner bank through which transactions are performed. For example, you can send money from Poland in PLN, and the recipient in Ukraine will receive it in UAH. The transfer can also be made in euros, dollars, and other currencies but will cost more.

Each user can open a multi-currency account and perform instant conversions. A Wise card is also available for clients. What is it? The card allows you to accumulate funds, use them to pay for purchases in different countries, and withdraw cash. A Wise card can be digital or plastic.

Key Facts about the Wise Payment System

We have collected key information that will help you better understand what Wise is:

• More than 16 million people use the service, which indicates its popularity worldwide.
• 21 currencies are available for funding the account. The list includes dollars, euros, pounds sterling, Japanese yen, and others.
• You can register 50+ currency accounts in one account.
• The average market exchange rate is used for conversion. The site has a calculator, so you can accurately determine the amount that will be transferred to the recipient’s account.
• Wise offers passive income. Вы можете инвестировать сбережения в партнерские фонды и получать проценты каждый день.
• As of June 2024, certain restrictions do not allow you to send money to UAH from Ukraine through Wise. You can learn more about how the service works in our country on its official website.

Safety and Reliability of Wise

Wise guarantees data protection and security of clients’ funds. Two-factor authentication is used to enter the account. Money is kept in verified and reliable financial institutions. Transfers are made through a payment gateway that encrypts the sender and recipient details.

Commissions

How Much Do Wise Services Cost?

• The service does not charge for profile creation and account registration.
• The cost of transfer depends on the currency and starts from 0.35%.
• You can get a digital card for free or a plastic card for $9.
• Cash withdrawal within $255 per month is free, after exceeding the limit — 1.75% of the amount.
• There is no fee for replenishing the account when using single currencies, but if the currencies are different, a commission is charged (the amount depends on the currency and the bank).

Countries Where Wise Operates

As of June 2024, you can send and receive money in local currencies to 50+ countries, including the Czech Republic, Poland, Ukraine, the UAE, Canada, and others.

How to Deposit Wise in Ukraine?

You can deposit money to a Wise account from your bank account. Open an account in EUR or USD in a Ukrainian bank. Then follow the steps below:

1. In the Wise menu, select the account you want to deposit, for example, in euros, and press “Add.”
2. Enter the amount you want to receive and the currency of the account from which the transfer will be made.
3. Select a payment method, e.g. debit card, Apple Pay, Google Pay, or PayPal.
4. Enter the account details from which you plan to transfer funds or use your saved details.
5. Click “Send” and confirm the operation.

Many people ask how to deposit Wise in Ukraine in UAH, but this function is currently unavailable due to NBU restrictions.

Want to withdraw money from Wise?
ObmenAT24 allows you to exchange USD and EUR to cash quickly, conveniently, and safely. You can get the money at the cash desks of our partners in Kyiv and other cities in Ukraine.