How TransferWise Actually Works | Send Money Abroad

Create Wise Account (+ Free Money Transfer): wise.prf.hn/l/...
This is a summary on Wise formerly known as TransferWise actually works. How does Wise afford to give its customers the live exchange rate you see on Google.
I explain exactly that in this short video. TransferWise is a domestic and international money transfer service that allows you to send money abroad safely, quickly and cheaply.
💰 To create an account with TransferWise and get your first money transfer for free 💰:
wise.prf.hn/l/...
Moreover, if you would like more information on Wise, such as how to create an account and perform an international money then feel free to watch my full transferWise tutorial here:
• TransferWise | Wise Mo...
🔴 Subscribe 🔴:
/ @theholistichustle

[@TheHolisticHustle]

Hey guys, to create an account with Wise and get your first money transfer for free then use this link:
wise.prf.hn/l/lJz0dZQ
If you have any questions then feel free to drop them in the comments section below and I'll get answering as soon as I can :).
Moreover, if you haven't setup a business yet then feel free to check out my tutorial on how to setup a limited company in the UK: czcams.com/video/1KjVQ62P21E/video.html
PS. Thanks for watching and remember to subscribe and hit the bell button to stay tuned with more videos like this.

[@BlooAgency]

Love your videos, don't give up, believe me the people just don't know all the answers are here !

[@TheHolisticHustle]

Hey mate,
Thanks a lot for your comment and noticing exactly what I've set out to do. I wish you the best with your business ventures and keep me posted on how things go 🙌

[@climate-moneymakingcampaig305]

Brother, thats how swift works
Thats why countries need to have billions of deposit inother countries to make this possible
But transferwise get ur pound, instead sends xrp to smb in usa, then the usa guy transfer usd to the destination address, its like doing what an exchange does
(Xrp price mooning has NOTHING to do with the iplementation of CBDC , cross border payements will beused by xrp in the future EVEN WITHOUT CBDC, CBDC should be cancelled at all costs !its the death of freedom!)

[@TheHolisticHustle]

I can’t say I know what most of your abbreviations are so I’m struggling to fully understand your comments but regardless, Wise has a great system to send money and allows us to utilise the exact rate as opposed to getting ripped off by banks!

[@300rivers7]

So, say I have bank accounts in three different countries, I can fund my debit card from any of those banks depending on where I am or plan to be?
Really good video. So good in fact, I subscribed. Going to have to watch it more than once though 🤔

[@TheHolisticHustle]

Hey! You don't need to hold bank accounts with different currencies for the Wise debit card, they do it for you. You'll be able to simply move the money on your card into different currencies as and when you need. Hope that helps 👍

[@300rivers7]

@@TheHolisticHustle
I see. So I can use my debit card in France or Mexico as long as it's tied to a source of funds...?

[@The_Chairperson]

It is very likely though that some country's fund runs out, then you have to transfer from other countries to fund it up.

[@TheHolisticHustle]

Hi there,
Do you mean for TransferWise? If so then no that has never happened, I believe if they ran out of one currency they would just purchase more with whatever currency they do have.

[@MrZaiMahi]

Can you do a video about which business accounts are the best for startup business?

[@TheHolisticHustle]

Hey Zaheer, yes I will do that next!

[@billybob7522]

I'm looking at opening a Thai bank account and funding it with regular monthly payments using Wise in the UK in order to qualify and maintain a 12 month retirement visa. The Thai authorities want to see monthly foreign payments coming from foreign transfers i.e. from outside of Thailand i.e. the UK. However, the way you explained it is that if I made a transfer from my personal bank to my Wise account and requested UK Wise to transfer to my Thai bank account the funds will not actually cross the border. Instead you state that Wise in Thailand will transfer the funds in Baht to my Thai bank account. Unfortunately this will NOT show up as foreign transfers that are funding my Thai bank account. Therefore the Thai immigration authority will NOT see these funds as foreign transfers. Is my understanding correct? This may risk my eligibility for the 12 month retirement visa.

[@TheHolisticHustle]

Hi Billy, unfortunately I can’t advise you on how this transfers will affect your retirement visa as I am clueless on the subject but if you’re asking how Wise works then yes you’re correct in thinking that if you send money to your Thai account, behind the scenes the money will be sent from Wise’s account in Thailand but whether or not the Thai authorities see this is a different subject. You’ll be sending money from the UK so that’s what would show up on your statements but you’ll need to dig deeper to see if this counts towards your foreign payments or not. Apologies I couldn’t be of anymore use and good luck 🤞

[@billybob7522]

@@TheHolisticHustle Thanks for your reply. Much appreciated and all the best.

[@joshuabailey2378]

Hey bro, do you have any recommendations for accountants here in the UK?

[@TheHolisticHustle]

Hey Josh, unfortunately not! I would love to recommend mine but I wouldn't want him to get bombarded with messages 😂

[@joshuabailey2378]

@@TheHolisticHustle hahaha understandable, thanks bro

[@kathrynel6003]

@@joshuabailey2378 Donnelly and Co in Hackney is your guy

[@deen_squad_jnr1]

Hello… how can I reach you..?
I have something to share with you and I promise you will find it useful

[@TheHolisticHustle]

Hey you can contact me on my email: [e-mail]