Wise Tutorial 2023 (TransferWise) | How to Set Up a Multi Currency Bank Account and Transfer Money
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- čas přidán 18. 08. 2024
- Learn how to use Wise (Formerly TransferWise) in this tutorial in 2023. I'll teach you how to set up a personal Wise account that allows you to send and receive money in multiple currencies from countries worldwide. Wise has saved me HUNDREDS of dollars while living or traveling abroad. ➡️ Get your first FREE transfer of up to £500 by signing up here: wi.se/1f6o2ud (referral link)
You can also set up a US bank account regardless of where you are from. That means that you can deposit US dollars into your Wise borderless bank account (perhaps that you earn online) and transfer it at a low fee to your own currency. This will save you on high bank fees and excessive currency conversion fees.
I'll show you how to set up and verify your multi-currency Wise account, how to add money to your account, how to perform an international money transfer, how to open balances in multiple currencies, and MORE! This is a complete Wise borderless account review and step-by-step guide for setting up an account, and completely beginner-friendly!
➡️ Learn how to open up a Wise Business account here: • Wise Business Tutorial...
Chapters:
00:00 - Intro
00:33 - What is Wise (TransferWise)?
00:54 - Benefits of Wise
01:25 - Is Wise Worldwide?
02:10 - Main features of Wise
03:25 - Wise Personal vs. Business Account
03:52 - How to get a fee-free transfer
04:22 - Preview of Account once you've signed up
05:35 - How to Create a Wise Personal Account Step-by-Step
06:24 - How to Order a Wise Card
08:08 - How to Verify Your Identity
08:56 - How to Open a Balance in a New Currency / Open a Jar
09:25 - How to Get Account Details to Receive Payments in USD
09:45 - Verify identity with ID photo and Selfie
10:40 - How to Add a Bank Account or Add a Recipient
11:30 - How to Convert Currency
12:20 - How to Send Money
13:30 - How to Add Money
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#wise #wisetutorial - Věda a technologie
➡ Get your first FREE transfer of up to £500 by signing up here: wi.se/1f6o2ud (referral link)
00:33 - What is Wise (TransferWise)?
00:54 - Benefits of Wise
01:25 - Is Wise Worldwide?
02:10 - Main features of Wise
03:25 - Wise Personal vs Business Account
03:52 - How to get a fee-free transfer
04:22 - Preview of Account once you've signed up
05:35 - How to Create a Wise Personal Account Step-by-Step
06:24 - How to Order a Wise card
08:08 - How to Verify your Identity
08:56 - How to Open a Balance in a New Currency / Open a Jar
09:25 - How to Get Account Details to Receive Payments in USD
09:45 - Verify identity with ID photo and Selfie
10:40 - How to Add a Bank Account or Add a Recipient
11:30 - How to Convert Currency
12:20 - How to Send Money
13:30 - How to Add Money
Thanks Jennie. I just checked them out and found out that my country is now available, it wasn't before.
What is the maximum amount I can receive on my wise account
How to receive money from foreign or international payment??
I do not know who to ask, but your channel is pretty close to what my question is.
My question: I found a debit card from my wife’s country hidden from me and there is USD numbers at the bottom of this card under her name.
What does those USD numbers mean? I got some shady crap going on with this woman and I think she is tied to organized crime back in her country.
Her ex husband is in some type of mafia from their country and ever since he got arrested 2 years ago, my wife has been acting very strange and she had money coming from some where and she could never give me a strait answer where or how.
I found this debit card from her country hidden in her car, but its was deferent than the others because this one i found has those USD numbers on it, and the others never did.
Can you help me with this? I’m on a fact finding mission and so far, I’m coming up aces, and this is my last fact finding event.
I do have a picture of this card.
Wow. I guess a lot's changed with the sign up process. It takes you from signing up from your link straight to sending someone money.
Thanks, good information! But one suggestion. When making this kind of tutorial it would be helpful to use a dummy account you can actually type demo content into so viewers get a better sense of what the process actually looks like. Unfortunately so many greyed-out fields at each step tends to confuse the issue somewhat and leave people wondering.
Make your own tutorial video it’s easier 😘
thanks for good and well structured vid.👍
Wow you are realllllly good at this! Thank you Jennifer!
You're so welcome!
Great tutorial. Thank you.
Thank you so much !
A very helpful introduction to Wise. I must add that it's more helpful than Wise's own videos.
Thank you so much!!
Excellent, this was simple to understand and practice. My travel group is being advised to use Wise to reduce fees and this tutorial fills in the questions I have to use it. Cheers.
Glad it was helpful!
@JennifermarieVO I want to find out how to activate a debit card in Canada 🇨🇦. I would like to get a response from you. Thanks
@@JenniferMarieVO I want to find out how to activate a debit card in Canada 🇨🇦. I would like to get a response from you. Thanks
After watching this, setting up (and using) a Wise Account...strikes me as being almost as complex and involved, as trying to create a Crypto Account w/an Exchange. Wow...this is involved! All I wanted was to maybe learn how to buy and hold some foreign currencies, electronically. But there's obviously a whole-lot to it! It's like (now days), you have to really be proficient in just about all things tech to do just about anything. It's too bad; bc almost every step (has "presumptions" of knowledge) that you already must know or be skilled in, in order to go to the next step.
It's really simple once you have signed up and verified your account. I'm sorry my video made it seem complicated!
Skills in knowing to read
@@KmMod523 I'm glad you have it all figured out. Tell me, over this past 15 months in crypto...lets see your gains.
@@jameskerry3826 men...the only crypto i got are like 1100 Pi
@@KmMod523 Great. Skills in knowing to read
Thanks for this Jennifer Marie, this was helpful. I never remember how to transfer money from one of my account to another of my own accounts in Wise and always come back to CZcams for a refresher. I bet I am not the only one who does this. Unfortunately there is no video on CZcams that answers "how to move money in wise", on it's own. I always have to search to the depths of a set up video to find what I'm looking. Perhaps you could make a short video on this changes currencies in Wise. I am sure it will rank as the only one. 😊
Great video. Was very helpful for me as Canadian. Detailed and to the point 🙏👍
Excellent tutorial - thank you!
You're welcome!
Hi Jennifer, u checking my cookies or what ?! 😂, Right on time was willing to set up on wise , I love to comment and like the video even bfr I watch it , keep it up , I am happy to be the first viewer
You gotta clear those cookies, slimane!!! 😂😂 I am so glad you will find this useful!!
Excellent your channel .I like your channel.Thanks
Thanks jennifer my friend for this useful vedio
New subscriber! 🔔 Thank you so much Jennifer for this new tutorial! 😀 Today I was so frustrated and worried today that a project I have couldn't continue due to so many bank commissions but I think this gives me hope. I saw all your excellent tutorial, I opened my account in Wise using your link, I put all my info with my bank account here in Mexico and I just need to create my first account inside the platform [that I will do in the following days]. I'm so excited! 🤩 - Ramón 🇲🇽
You are so welcome! Wise is a lifesaver! :)
@@JenniferMarieVO Again, thank you. I really hope so 😭😅
Very comprehensive tutorial 😄👍👍👍
Thank you so much, very informative 💯
This is so much info. I would like to ask if I want to send money to someone why do I need their bank account. How are they going to get the money will it be transfered directly to their bank account, or do they need to have a Wise account ,and then they can transfer the money from their Wise account into their bank Sorry im confused.
I am thinking open a wise account for travel. If I open an account, I would like to convert US dollar to Japanese yen now as the exchange rate is really good. How do I do that? Do I have to put the money on US account first and then convert the money from US account to Japanese yen? If so, the money on US account is from my personal bank account in US or from master card, like on your video (you put $30 canadian dollar with master card). When I travel to Japan, I can use Wise card to withdraw money in Japan? Am I correct? Can I make a deposit back to my wise card if I have some left over foreign currency like Japanese yen or Euro?
Hi Jen: Great video and very helpful. I plan to open up a Wise account to transfer fund from Wells Fargo in the US to ScotiaBank in Canada with conversion to US funds. Can you offer any tips on how to do this process? Cheers
Great Explaination, Thank You so much
can you clarify how we can use the wise debit card for purchases regarding what funds it uses? for example, I plan to go to Thailand this October. If I use the debit card to purchase something, does it know automatically to deduct the amount from the Thai baht account I have in Wise OR do I need to set something up in Wise before I go to Thailand? Thanks.
Thank you for a great tuto! I am in Australia and did not get the option to link a local bank account to transfer my money to. The option is not available. Should I enter my bank account details as a recipient? Thank you!
I've been considering opening a Wise account, but I have a few simple questions. I live in the US, and don't really plan to travel abroad but I am capable of doing so. I just want to open an account as sort of a savings to hold currencies other than USD. I'm not really concerned about earning interest on this money, it's just to put a little aside to manage inflation/deflation risk. The currencies I have specifically in mind are Thai Baht, South African Rand, and Finnish whatever it's called. I have a vested interest in these countries, with some relatives living there and I hold some stocks in those countries. For what I'm looking to do with it, is this a better option than FOREX? Are there any fees associated storing money in foreign banks? Are there any fees with ordering a Wise debit card/credit card? Are there any minimum balance requirements?
I have the same question
@xxverdeskxx741 I just went ahead and did it.
There are no minimum balance requirements. There's a small fee for transferring money from your US bank account into your Wise account, and a small exchange fee for converting money into foreign currencies. Overall, it's kinda like a Coinbase account, but instead of holding crypto currencies, you're holding actual currencies. I just opened it with $60 just to try it out. Altogether, the transfer fees and exchange fees for putting money into 5 different currencies cost me about $1. Of that most of it is transfer fees from your primary bank account into Wise, the exchange fees were really low, like a few cents in most cases.
There's a $9 fee for ordering a credit card/ATM card, you don't have to pay for one and don't need one for storing currencies, but it's available if you want it.
Thanks for the clear explanation for the tutorial. May I know how to receive the fund from other platform?
Perhaps you you share some information. 😄😄
Hey thank you very much for such an i formative video.
Kinldy if am canadain resident living in Pakistan right now, do i need to setup a vps for account creation?
As i will verify it through my Canada driver's license
thank you. I'm from Pakistan.
How do you move usd money in wise back to the funding bank account.
Thank you so much I’m a bit scared to do most things so this helped alot
You are welcome! Don't worry! Start with adding a small balance until you feel more comfortable. I trust Wise entirely!
There is no need to be afraid, this is a bank that has credibility, even if a problem occurs, the bank will return all the money to you without a problem If you are from the European Union, it is easy, but where are you from?
Great explanation
Good day Jenny, thanks for the very important information on how you c an have an account of multiple currency , how can I sign up ? Thanks
excellent info - does one need to make the 'accounts' on the main page? Or can you do without them?
hi, great video. As I understand. Wise is just to tranfsfer money. I need definetly another bank account in the country I Live? Right know we travel a lot. But my account is in Germany, but I want to change it to a romanian ban. I am still confused with all these option. Mabye u have more videos to recommand to learn more about accounts and taxes for example. Thank you. 💖
What if you can't open a bank account in the country you are in abroad e.g. (Thailand) to receive your money from your home country e.g.(Canada) account because you are a tourist ...how would I then get my money from my personal bank account back home?
Thank you.
hi. for verify, both our face and ID card should be in a photo? or just a photo/scan of document?
To send money to our friends, do we have to enter a bank account first? Can't we send an amount from the wallet amount to our friends without introducing a bank account?
thanks.
Great video. One quesion; is it required by wise to link a bank account to the wise personal account?
Apologies if this question is going to sound weird yet I have opened a Wise Us account for my Upwork client. My payment was however rejected. Is there anything else I need to pass along to my Us client apart from my account, routing number and my name for them to deposit money to my account? Would be grateful for any help with this.
hello does the money which comes in wise be transfered in to our gpay wallet or in our bank account
Hiya Jan
I have just opened two balances in multi account one main which has account number is in £ and other Balance is in Indian ₹
I want to send money from my Indian ₹ Balance to a friend in ₹ how do I do this
Each time I try it charges converting fees
amazing video! one Q pls... how long does it take to get the card if you are in Canada?
thank you
Ma'am we can send money from London account to Indian account with this app
Hi. Do I need to take a picture of my id to verify my id or could I upload a picture or a scan from before ?
what is the maximum amount I can transfer from wise to my local bank account or vice versa...example us dollar?
You can check this article for exact details for your country: wise.com/help/articles/2571907/what-currencies-can-i-send-to-and-from
However, these are the details for US dollars:
1,000,000 USD per transfer on personal and business accounts
15,000 USD per 24 hours using bank debit (ACH)
2,000 USD per 24 hours and 8,000 USD per 7 days using debit or credit cards
@@JenniferMarieVO wow that is already big enough for a Filipino like me! great thanks for your reply and more great luck to your channel!👍🔺
How is this different than PayPal, Zelle or Venmo?
Thanks for the great video😊
My question is, can I use this video to show others?
I will of course show the URL of the invitation as it is.
You can share the link to my video or embed the video, but I can't approve downloading and republishing for copyright reasons. :)
@@JenniferMarieVO Thanks💕
I have a US Chase Bank Prime credit card. When I use it in Europe (Euro) they use the same conversation rate as I see on Google. I use tap to pay alot and it's so convenient. Is Wise a better deal?
Hi, I want to add money to my Wise. And I am from Papua New Guinea. Will be possible for me to add money to my Wise.
Yes you can, I've been using it transfer money from 🇵🇬 to another country
Thank you for sharing. So if I plan to visit Japan, as long as I open Japan currency and add balance to it, I can use the card to withdraw cash and to pay as a debit card in Japan?
Yes, you can use it in Japan without a problem
What can I do if I don't have an option to add balance to open an account?
While setting up Wise account it asked me for my credentials such as Bank User Id and Password. Does that sound right? I then received an email that a new device was added to my bank account Mac… This left me very nervous. Please explain if all this is okay.
Hello Jennifer,
Your video is very informative and helpful. I would like to convey one question that I really need to know.
"Do I have to pay taxes for the amount I'm receiving through Wise to my Bank account?"
You should claim any online income when you file your taxes each year with your accountant or bookkeeper (or if you do it manually).
One I've ever reply my message on the CZcams please can you teach me on how to use
Such an ideal presentation. You're so thoroughly prepared. I have a USD income stream but reside here in Colombia. Could I use the Wise debit card to pay for, say, groceries? I do not have a Colombian bank account. Cheers!
Thank you! If you are able to obtain the Wise card in the US, then yes. They don't send Wise cards to Colombia just yet. I have my Wise card and pay for groceries etc in Spain. But you would need to get the physical card first
Can I send you my physical wise card at your address, and you need to send it to me in Pakistan. I will pay you for this?
if I set up my wise account with my australian phone number, and then change my sim in korea and have a different number is that going to cause me problems using the wise app when in korea?
Can I use wise to transfer my funds from one bank to my other bank internationally?
Hi thank you for sharing. How to top up to your b
Wise account. Can other people transfer money or top up to my account using their credit card
Yes
Very detailed info. great job.
2 questions I have - a bit of topic perhaps. I travel to different countries all the time and get new phone numbers often. How do we manage the 2 FA here? I always have trouble with this subject. Can one opt out of 2FA? How did you do it or do you use expensive Canadian roaming ?
Also, how did you get a European bank account as a Canadian....when one needs a tax number in that country then???
I have dual citizenship, but no European registered residence ( could stay with family though) But it is the TAX # that we do need as well.
You can disable a message from an application that means you no longer need a phone number. You can use a card normally. As for a European address, if a card can be issued in your name, do not ask for this tax number if you live in Britain.
I did create Wise business account in US company (llc) detailed.
I have been verified but not paid fee because not accept any debit or credit card. Please guide how to pay fee for account details and card.
Thank you.
My WISE card DID NOT WORK when I most needed it.
After being in transit for more than 24hr, I arrived to pick-up a rental car, but WISE declined the payment. I called support but no one answered as it was out of their working hours. My purchase was within the card limit and I had 10x more funds than what was necessary.
Oh my goodness. That is horrible. This has never happened to me. Was your card activated? I know the first time you use the card, you need to activate it by withdrawing funds from an ATM.
Hello Jennifer,,,how do I create invoice,,?
I have 2 currencies account Uk & Turkish. Currently I m using Uk pound, now I added Turkish account because I am going on vacation . How contactless setup on Apple Pay need to be done so Turkish currency could be used
Hello, one cannot transfer USD from PayPal into Wise if you're a Canadian citizen?
Jennifer love your work and great video, I need help , I want to know to what are beginner friendly upwork jobs you know also I need to high converting upwork Proposal type, please if you have a time I hope you'll be answer my question.
Thank you Jennifer ❤️
Thank you for your kind words! I can't say exactly what Upwork jobs are high-converting, as this would depend on the proposal you write, your portfolio, and samples of your work that you send to the clients. The first few jobs I did for Upwork as a beginner were related to voice overs, video editing, writing, and proofreading. The most important thing is to find a job with under 20 proposals that you feel you can do well, and write an excellent cover letter/proposal and send samples of what you can create. I will be releasing more videos this month related to Upwork Jobs for beginners, so stay tuned. :)
@@JenniferMarieVO Thank you Jennifer, I knew you'll be answer my question,
I'll be waiting beginner friendly upwork job videos,
Again thank you for your time to reply my questions.
Thank you Jennifer ❤️❤️
Does wise provide virtual bank accounts like payoneer? I'm looking for a way to get paid on kdp other than payoneer and the other options. Because the countries Amazon consider fir payment are very few .
Great video, Thanks Jennifer for updating me, I had already a UK Business account, can I make a new account for the US?
You can open up a US balance within your other account and have banking details for both UK and US. :)
@@JenniferMarieVO thanks.
This is prohibited. Multiple accounts are prohibited
Is the site fixed for Android yet??? I need help
awosome mam very helpfull vedio keep it up I am from pakistan
when i click on recipient i dont get the option to add my own account,
For transferring money from India to Germany, which ID proofs are required for verification?
i converted 10 aud to php and after i did it my aud balance would not go down to reflect it? i went to home and exited, still wouldnt do it.
For the business account, can you use the WISE card to pay for things online in the same way you use a credit card?
I pay some business bills in USD and always hate having to use my CAD business credit card. Please let me know if you can. This video was very helpful.
Yes, you can! It makes it much easier to track business expenses. I am going to do a video soon about the business account. :)
@@JenniferMarieVO Awesome. I current have a business USD account with a WISE Competitor (OFX). But they don’t have a card so considering switching to WISE.
One more question if you can help. Finding it confusing to understand WISE fees for receiving USD. In some places it says it’s free, others it says each time your receive USD you’ll be charged.
My business charges in USD via Stripe (and Afterpay US) with both connected to a OFX business USD account. Currently happy with the fact that OFX charges me nothing to receive USD in my USD Business Account.
Do you have any insight into WISE fees for receiving USD?
The problem I have is xferring money to a bank account, but you cannot open a bank account in that country, until you have lived in that country.
You can open up a bank balance in multiple currencies with separate bank details without having an account in that country. For example, I have a USD currency balance in Wise with US bank details, and I am not a US citizen.
Thanks gal
Thanks for responding so promptly. . Wow.this should be really ya
It's asking me for tons of private questions! Like how I make money and they need documents for proof! But I'm a freelancer.... I didn't find the tourism option... the wise page didn't look the same as shown here
It varies by country. There are countries that are not supported. Perhaps your country is not supported
I find only recipient not add bank account
Hey 👋
Are you looking for video editor?
Great info, quick question can a joint account be opened with WISE
I didn't understand exactly what you mean
Great video! Do I have to add the 30 Cad balance to the CAD account I created on Wise before someone could send money to it with my email address?
no
wise, I asked for a salary slip document. after I upload it is always rejected
I need solution
So can you walk into a bank and use your wise card to get cash ?
You can withdraw cash from ATMs with your card or use it at any store, restaurant, etc
Can I setup Etsy account with it?
Hi, sorry Miss but I'm still confused. I'm planning on Upwork soon but I feel like I need more explanation, please? Like, do I need to set up two balance, one in US, one in my currency? Will the clients pay me in US? Do I withdraw them directly from Wise (if so, how?) or should I transfer them to my local bank account?
1. Yes, create two balances. One in US and one in your currency. (I show you how to do this in the video step-by-step)
2. The clients pay you in US. You connect Upwork to your Wise account. The money gets deposited into your US balance in Wise.
3. You transfer the money from your US balance directly into your home bank account OR into your home currency balance.
I show you how to do all of this in the video. Watch carefully!
@@JenniferMarieVOwhat can I do if I have the USD balance but not my currency balance? I’m from Colombia
open account is not showing in the home area
Hi Jennifer.
Enjoyed your very informative guide on using Wise and the range of possibilities available with this multi-currency product.
I have a question (apologise if this question is bordering on stupid BUT...) I'm still a little confused with how I transfer funds onto my Wise card so that I can use the card in Singapore when we visit next month.
I do have an existing Wise account and a new Wise travel card but yet to use it as i cannot figure out the above.
Are you able to help please?
Many Thanks
Stu
You reside in the United States Maybe you froze a card so you couldn't use it
Do you have to provide a picture of your face to use wise?
How come, after I registered for a new account in mobile. The “manage page” is all blank. I could not access the Balance page as well
What country are you from? You may not be eligible for it
UK bank transfer to UK bank, can you provide the account number?
I have 2 accounts balance are AU and JPY. My question is if I spend in Japan what they gonna charge me on JPY or AU?
If you have money in your Japan account, they will take money from your JPY account.
Hi, Can you advise me , is Wise a bank and how safe is my money with them and is the Wise debit card accepted world wide??
Wise isn't a bank, but it allows you to hold money in multiple currencies (send and receive money) and even gives you separate bank details you can use to make and receive payments. It is worldwide, and it is safe!
@@JenniferMarieVOkinda vague answer, I have the same question what if I have a trip late in the year and I want to keep “saving” in that currency, how safe is my money thru out the year until my trip? That’s what worries me about this card/company I want to take advantage of the conversation rate at the time but what if I loose all my money before the trip
Im overseas now living and working. Im a u.s. citizen. Im having a helluva time getting my phone number changed. Wise keeps declining my selfie citing blurry passport page. My fifth denial. I might have to go to a digital photoshop to get the pic done professionally.
Hi Jen, I'm from British Columbia Canada and I opened an account at HSBC to hold some Euros in order to put the Euros on my Wise card. I don't have the option to transfer this from my account to my Wise card but I must wire transfer it. Can you explain how I do this so I can give my bank the instructions?
You transfer CAD from HSBC to your Wise CAD account. Then you convert within Wise from CAD to EUR. You must have created in Wise you EUR account as well prior to
Please explain how can to add starting (initial) balance of £20 If you do not have a UK bank account?
If you have another bank card or someone who will send you £20 to your Wise account
@@sirta.7 no, it has to be your own bank account to make a first deposit. I have confirmed with WISE.
Very nice video! Let me ask you a question: How do I receive payments in USD from outside the USA? I don't understand Wise's help section:(
The easiest way, if I understand you correctly, is to deposit funds into the Wise account in the same currency of the original money, and then transfer to USD inside your Wise account. For example, Someone sends you 100 Euro to your Euro account in Wise. Then transfer that to USD inside your Wise account.
@@JenniferMarieVO Thanks for answering! But the only option is USD with this company. The thing is, they're not from the US. I don't understand the SWIFT transfer thing 😵
@@peftasteriao3 Ah, in that case it's easy. Follow my steps to open a US banking account. Even if you aren't from the US, you can have your own US banking account in Wise and deposit USD funds directly into your USD account. Then you can transfer to the currency of your choice. I get deposits from USD companies all the time into my Wise account and I'm not from the US! Just watch my tutorial and I show you how :)
Hi, can i get paid from abroad with personal acc? thanks
Yes, you shouldn't have any issues getting paid into a personal account from abroad. :)
I am inParis and got the card, how can I add money with atm without fee is it possible?
It is not possible, but you have to activate a card in an ATM, either adding money either through your credit card or sending from another Wise account
Hi, thanks for this great explanation. But, Do I need to verify my adress again, if I wann do change the account from personal to business? Because I will be travelling for some time and I dont think, the Name for my company will be verified before I leave the country.
Thank you very much
Seb
No, this is normal if you confirm the address at the beginning, even if you go to visit or you are doing business, this does not change anything
hi. tell me please if you know, the virtual iban bank account and BIC in EUR will be from where ??? Belgium, Germany or from my contry where i apply for wise ???
Belgium!
Does Amazon still accept transfer wise?