Wise formerly Transferwise
Hi
Just wondering if anyone on here uses Wise (formerly Transferwise) to pay their suppliers in Europe. I import a lot of stock from Europe and have been paying by bank transfer. A friend has suggested I start to use Wise instead as it could save me thousands of pounds. I’m a bit nervous, if anyone has used this company I’d be grateful if their feed back. Thanks
0 replies
Seller_vIpv9uvBH6CFY
I’ve used them for years and they’re fantastic. They’ve got the best forex rates for my particular circumstance, and they’re pretty quick on transfer time. When I disburse on Monday, it’s waiting for me by Wednesday.
However, the only reason I can currently use them on Amazon is because I was grandfathered in under the old payments system. Unfortunately new users will have to wait until they clear the new PSP system. They are currently under the “joining” category, which is here:
These are the current live ones, of which I can’t recommend any. If I wasn’t on transferwise I’d be using Amazon directly tbh, despite the horrific forex rates. I can definitely NOT recommend currencies direct, as they’re actually a phone service masquerading as an online service (minimum 2 phone calls a week with people who can’t speak english - hence I switched to transferwise!). Other live ones are all dodgy Chinese firms, or payoneer who is also owned by China. These are are the active ones, anyway:
edit: just realized you were only looking to pay suppliers, yes they’re also great for that. Takes about 1 business day to clear and they have good rates/fees. They won’t transfer on weekends though.
