Wise is one of the best services for cheap global money transfers. Because it uses the ‘real’ exchange rates, you get the best value for your money and don’t have to worry as much about fees eating up your transfer amount.
Formerly known as TransferWise, the company has more than 13 million customers worldwide.
When you send your first money transfer using our Wise referral link or a valid Wise referral code, you don’t pay transfer fees on up to $800 or $600 USD sent.
While subsequent transfers include a fee, you can continue to earn rewards through the Wise referral program which pays $115 CAD for every 3 friends you refer.
Wise Referral Code and Free Money Transfer
Take advantage of free money transfer on your first transfer abroad using Wise.
To get the offer, click on our Wise referral link and proceed to create an account. The promo code is automatically applied and you pay $0 in fees on your first transfer of $800 CAD or whatever the equivalent of £500 is in the currency you are sending.
Claim Offer (Send up to $800 CAD free).
Wise Referral Bonus ($115 CAD)
The Wise referral program has one of the best refer-a-friend bonuses for money transfer companies.
In addition to getting your first transfer free of charge, you can also share your Wise referral link with friends and family.
When they join using your invite link, their first transfer of up to $800 CAD is free. For every 3 friends that join and send $300 or more, you earn a $115 CAD bonus!
If your friend sends less than $300 CAD, or equivalent in one go, they still get a free transfer, but they won’t count towards your eligible referrals.
If a referral did not use your unique link during sign up, they can still add your link by clicking on the “Forgot to use an invite link” phrase in the “Invite and Earn” section of their dashboard within 30 days of signing up.
What is Wise (Formerly TransferWise)?
Wise is an international money transfer platform that is up to 6x cheaper than using a traditional bank.
You can use it to send money to more than 80 countries using 53 currencies.
It is often cheaper than other companies like Remitly or WorldRemit because it uses “mid-market” exchange rates which do not include expensive markups.
How Does Wise Money Transfer Work?
Sign up for Wise here (includes the best Wise promotion available).
After creating your account, you can easily verify your identity if required.
You can then send money to a recipient by following these steps:
- Enter the amount you want to send and select the currency e.g. CAD
- Select your payment method such as debit card, credit card, wire transfer, or bill payment
- You can view the fees at this point and confirm the fee discount if applicable
- Provide the bank payment details for the recipient
- Fund your transfer and complete the transaction
Currency exchange rates are usually guaranteed for up to 48 hours. Wise also shows you how much you are saving compared to using a bank.
Wise Multi-Currency Account and Debit Card
Wise offers a multi-currency account that supports 53 currencies.
Formerly known as the “Borderless Account”, the multi-currency account includes banking details for 10 currencies (countries), including the Canadian dollar, British Pound, Euro, US dollar, Australian dollar, New Zealand dollar, Singaporean dollar, Turkish Lira, Hungarian forint and Romanian lei.
You can hold 50+ currencies and avoid paying FX fees when you make transfers using these currencies.
Wise customers can also apply for a Wise debit card that allows them to spend multiple currencies abroad.
Wise Transfer Fees
The transfer fees you pay on Wise vary depending on the currency and the method of payment.
You can receive money free of charge in the multi-currency account; however, for USD wire payments, there is a $4.14 USD fee.
Is Wise Safe?
Yes, Wise is safe. The company is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Service Business (MSB).
It is also regulated and registered in all other countries it operates in.
Looking at its ratings on TrustPilot, it scores a remarkable 4.6/5.
Pros of Wise
Some of the benefits of Wise (TransferWise) include:
- Cheap international money transfer
- It uses the real exchange rate
- Offers a Mastercard debit card
- Provides access to a multi-currency account
- Available in over 80 countries
- Fast transfers
Cons of Wise
Downsides of Wise include:
- Some countries are not yet supported
- Not the fastest money transfer option
- You can only transfer funds to a bank account or mobile wallet
Visit Wise (Get first transfer free).
TransferWise Referral FAQs
Can I get a discount on Wise?
Yes, when you send your first transfer via Wise using this referral link, you get a discount on the transfer fee.
What is the best Wise promo code?
The best Wise promotion offers free transfer on your first money transfer up to $800. Use this link to take advantage of the offer.
Is Wise legit?
Yes, Wise is a legit company with more than 13 million customers.
How do I use a referral on TransferWise?
Simply click on a valid referral link to get a fee discount when you send your first transfer.
How does Wise refer a friend work?
You can share your unique Wise referral link with friends. When they join and send $300 to $800 CAD or its equivalent, you earn up to $115 CAD for every 3 eligible friends.