Transferwise is the new method through which money is sent abroad, this service was created in the United Kingdom and in Estonia, it was launched for the first time in January 2011 by Talavera Hinrikus and Kristo Kääemann, its main headquarters It is located in London, in addition to having offices in different cities around the world, such as Singapore, New York, Tallin, among others. This innovative method has more than 250 currency routes around the world, not to mention that it offers the service of accounts of different currencies. It can be said that transferwise has been a revolutionary method that has significantly reduced the commissions that were charged for transfer abroad, aa fact that has annoyed the large corporations of the banking industry, and that in turn significantly helps people to save.
Banking institutions have treated their customers unfairly to some extent over the years, especially when it comes to sending money abroad, as the hidden fees are considerable. Thanks to the emergence of transferwise, the large commissions charged for this service have decreased a lot, not to mention the transparency with which they are carried out.
The procedure consists of carrying out two local transfers instead of an international transfer, that is, if what you want is to transfer from euros to dollars, transferwise what you do is carry out a couple of internal transfers, the person who sends the Money from Europe will do it to an account in Europe and then Transferwise what it does is send the transfer from your account in dollars to the account in dollars of the beneficiary, that is, the international transfer is eliminated from the operation.
Currently the users of this new method exceed 10,000 clients, which are distributed among countries such as Sweden, Denmark, United Kingdom, Switzerland, Poland and Sweden, being mostly young professionals who send money regularly, or that in default they have a mortgage abroad.
There are those who oppose this new method since they claim that it can be lent for money laundering, but its defenders argue that the standards used are similar to those used by banking institutions.
