Pages in topic:   < [1 2]
General impressions of Transferwise
Thread poster: lcavalcanti
Thomas T. Frost
Thomas T. Frost  Identity Verified
Portugal
Local time: 11:06
Danish to English
+ ...
Unsuitable for transfers out of the US Dec 5, 2014

A US client just tried to use Transferwise to pay an invoice, but he gave up. It's incredibly complicated for payers in the US. Transferwise explains in the help section that the US banking structure somehow causes them problems.

 
Sarah Lewis-Morgan
Sarah Lewis-Morgan  Identity Verified
Germany
Local time: 12:06
Member (2014)
German to English
+ ...
It works well within Europe Dec 5, 2014

A relative has transferred money to me using Transferwise. He is notorious for seeking out the most economical way of doing it, and has no complaints about the service. It is also much faster than a normal bank transfer. But as has been said, it relies on someone else transferring money the other way, so if not many transfers are made between France and Outer Mongolia, for example, that is where the system is not optimal.

 
lcavalcanti
lcavalcanti  Identity Verified
Ireland
Local time: 11:06
TOPIC STARTER
The transfer was fast, rate was fair and the money was available the next day Dec 17, 2014

So I am quite happy with their service. The transfer was at a very good rate and the charges minimal. It only took one day, I sent a money request late in the afternoon and in the next morning it was available in my bank account . The process was straightforward and the website easy to understand and use. A brilliant service, truly the best option for translators in Europe and US, and for that reason I joined their ambassador program.It’s the only company that gives you the mid-market price wi... See more
So I am quite happy with their service. The transfer was at a very good rate and the charges minimal. It only took one day, I sent a money request late in the afternoon and in the next morning it was available in my bank account . The process was straightforward and the website easy to understand and use. A brilliant service, truly the best option for translators in Europe and US, and for that reason I joined their ambassador program.It’s the only company that gives you the mid-market price with 0,5% fee . If you click on the link below you will get your first transfer for free: www.transferwise.com/bestoptionfortranslatorsCollapse


 
almittas
almittas
Greece
Simply give it a try! Dec 14, 2015

Guys simply give Transferwise a try. I am using it a lot and I am extremely satisfied.
It is a really easy way to transfer money abroad and is developed by Skype. The exchange rates they offer are pretty amazing. It has a commission of 0.5% and thats all.
Their website is extremely simple to use and you are informed from the very beginning exactly how much money is supposed to be received.
There are no extra hidden fees (you dont have to pay your bank or anything else).
<
... See more
Guys simply give Transferwise a try. I am using it a lot and I am extremely satisfied.
It is a really easy way to transfer money abroad and is developed by Skype. The exchange rates they offer are pretty amazing. It has a commission of 0.5% and thats all.
Their website is extremely simple to use and you are informed from the very beginning exactly how much money is supposed to be received.
There are no extra hidden fees (you dont have to pay your bank or anything else).

Here is a link to make your first transfer totally for free as long as it is up to £3000 or the equivalent in any other currency.
https://transferwise.com/u/74973
Collapse


 
Ana Maria Edlin
Ana Maria Edlin  Identity Verified
Spain
Local time: 12:06
German to English
+ ...
Transferwise Update Apr 28, 2020

I am just wondering whether anyone has had experience of the Transferwise multi-currency account. It seems great as you can now have your own "personal bank account" in six different countries. Has anyone tried the personal USD account with large US agencies? The one I have in mind says they don't do Transferwise but that may be from before the advent of these personalised local bank accounts? Has anyone tried asking them?

[Edited at 2020-04-29 11:32 GMT]


 
Thomas T. Frost
Thomas T. Frost  Identity Verified
Portugal
Local time: 11:06
Danish to English
+ ...
Using it for USD now Apr 28, 2020

I use TransferWise for getting paid in USD by a US client and transferring the money to Europe. With the domestic US bank account number, it's easy for US clients to pay (wire or ACH) into the account. What you need to explain the client is that it's just a domestic US payment.

I also use TransferWise as a 'wormhole' between my UK and euro bank accounts, as UK banks charge an arm and a leg.

I've had no problems with TransferWise.

You'll need to edit out the
... See more
I use TransferWise for getting paid in USD by a US client and transferring the money to Europe. With the domestic US bank account number, it's easy for US clients to pay (wire or ACH) into the account. What you need to explain the client is that it's just a domestic US payment.

I also use TransferWise as a 'wormhole' between my UK and euro bank accounts, as UK banks charge an arm and a leg.

I've had no problems with TransferWise.

You'll need to edit out the name of that agency you mentioned before your post is hidden, as the forum rules say that individual agencies may not be mentioned.
Collapse


 
John Fossey
John Fossey  Identity Verified
Canada
Local time: 07:06
Member (2008)
French to English
+ ...
Transferwise and USD Apr 28, 2020

Ana Maria Edlin wrote:

I am just wondering whether anyone has had experience of the Transferwise multi-currency account. It seems great as you can now have your own "personal bank account" in six different countries. Has anyone tried the USD account with Transperfect? They say they don't do Transferwise but is that from before the advent of these personalised local bank accounts? Has anyone tried to ask them?


I have used Transferwise for some time with a "borderless" multi currency account. It works seamlessly.

However, the USD account took some getting used to. I learned that in giving the account info to US-based clients I had to specify the name of their US-based partner bank, Community Federal Savings Bank, since otherwise, when making an in-country ACH funds transfer to "Transferwise" clients would get a message that the bank name did not match the ACH code. Once I got that sorted out payments have been trouble-free.


 
Thomas T. Frost
Thomas T. Frost  Identity Verified
Portugal
Local time: 11:06
Danish to English
+ ...
Bank and account holder name and address Apr 28, 2020

John Fossey wrote:

I learned that in giving the account info to US-based clients I had to specify the name of their US-based partner bank, Community Federal Savings Bank, since otherwise, when making an in-country ACH funds transfer to "Transferwise" clients would get a message that the bank name did not match the ACH code. Once I got that sorted out payments have been trouble-free.


Yes, that part is not fully and clearly described by TransferWise. I asked them to clarify and here is what they said:

Bank name & address: CFSB, 89-16 Jamaica Avenue, Woodhaven, NY 11421, United States
Account holder: TransferWise FBO Thomas Frost
Account holder address: TransferWise, 19 W 24th Street, New York, 10010, United States
For wire, either account holder must include 'TransferWise FBO' or address must begin with 'TransferWise'


 
Ana Maria Edlin
Ana Maria Edlin  Identity Verified
Spain
Local time: 12:06
German to English
+ ...
Thank you for your swift replies, guys. Apr 29, 2020

I was particularly interested in T....... and didn't realise I wasn't allowed to mention agency names, Thomas. I have been in touch with them and they have difficulties with Transferwise that they are trying to clear up. The information you've given me and John's is very interesting and I shall certainly look into it. I can also pass it on to the agency concerned.

Once again many thanks,

Ana


 
Beatriz Aparicio
Beatriz Aparicio
Spain
Local time: 12:06
Catalan to Spanish
+ ...
Transferwise USD payments Feb 17, 2021

I was wondering if there was any update regarding the use of Transferwise as a payment method of big US companies, as the one that Ana was referring to.
Do you know if now it works better or if I will have problems for using them to getting paid?
thanks a lot in advance


 
conejo
conejo  Identity Verified
United States
Local time: 06:06
Japanese to English
+ ...
TransferWise is great, I wish more clients used it Feb 19, 2021

I have only used TransferWise so far for several invoices from Japan to the US. My experience was that I did not have to pay ANY fees at all! So for me it's much better than PayPal. I have no idea what happens on the client's side.

It seems that if the client sends a transfer it could take a while, say 3-5 days to receive it.

[Edited at 2021-02-19 10:07 GMT]


Liviu-Lee Roth
 
Pages in topic:   < [1 2]


To report site rules violations or get help, contact a site moderator:


You can also contact site staff by submitting a support request »

General impressions of Transferwise







Protemos translation business management system
Create your account in minutes, and start working! 3-month trial for agencies, and free for freelancers!

The system lets you keep client/vendor database, with contacts and rates, manage projects and assign jobs to vendors, issue invoices, track payments, store and manage project files, generate business reports on turnover profit per client/manager etc.

More info »
TM-Town
Manage your TMs and Terms ... and boost your translation business

Are you ready for something fresh in the industry? TM-Town is a unique new site for you -- the freelance translator -- to store, manage and share translation memories (TMs) and glossaries...and potentially meet new clients on the basis of your prior work.

More info »