Sure. TransferWise is not the only provider in town for great transfers. If that were the case, everybody else would had packed up and gone home. That is clearly not the case. It all depends on the corridor(s) in question and what type of money transfer service is being offered. TransferWise has its fair share […]
Articles Tagged: transferwise
What regulations would a peer to peer money transfer platform face (TransferWise model but without an intermediary)? The platform does not touch money. It allows peers to find matching, opposing transactions and conduct the money exchange themselves.
If a State or Federal regulator cannot find an exact way to pin this marketplace down, then they go after intent. Barring the problem the marketplace will face with respect to trust, etc. let us look at the intent. The intent will clearly how that without the market place, the transaction cannot take place. How […]
Would Transferwise be a good company to send money abroad?
Yes. No doubt TransferWise is a great company to use to send money abroad. Their rates are extremely competitive and they are truly one of the few disruptors in the field of money transfer (many may argue otherwise). It is because of Transferwise’s low fees that many others had to lower their fees to compete. However, Transferwise […]
How can a company like TransferWise send money to Indonesia but can not transfer money from Indonesia?
If they can send money to Indonesia, doesn’t it mean they already have a local bank account in Indonesia? I can think of three possible situations: Many countries have regulations on inbound and outbound transfers. In certain countries, one can send money to that country, but sending money from that country may not be allowed by law. Secondly, even […]
Can I send funds from Pakistan to Australia using TransferWise?
No. At present, you cannot send money outside of Pakistan by using Transferwise from within Pakistan.
How is it fair that TransferWise takes 90 working days to refund your money after rejecting your transfer request?
Not fair, but perhaps a little bit of context will help. In typical cases, let’s say if you were originating this transaction via ACH, had it been a fraudulent one, after 90 days you would have no recourse. In the event they suspect your transaction is flagged as fraudulent, they would not let it go […]
How can TransferWise send money abroad very fast?
This is usually achieved by something called Pre-funding. It is a concept by which the Sending company, pre-funds foreign currency with the beneficiary country’s banks. For example if money has to move from UK to Philippines. Transferwise will maintain a pre-funded account with say Bank D’Oro (BDO) in the Philippines. Once TW gets a confirmation […]