![]() For starters, more than eight in ten customers said that Wise was “Excellent” or “Great.” We read some customer reviews on TrustPilot. You shouldn’t just rely on our review of Wise, it’s also worth exploring what other customers say. With Wise, because there are no intermediaries, there are also no surprise costs - allowing a more transparent payment structure. Learn more on Wise vs international bank transfer. Each bank involved in the payment chain can add an intermediary fee which is tricky to predict and pushes up prices. SWIFT is established and reliable - but also expensive and slow. Regular banks on the other hand typically use the SWIFT network - a network of partner banks which pass payments between themselves until they reach the correct destination account. That means no money really has to cross borders, cutting the costs and the time involved. ![]() Wise then transfers the equivalent amount from their account in the destination country, in the currency you need. When you make a payment in dollars you send it in USD to the Wise account in the US, using an ACH, a card or a wire, for example. Instead of moving money across borders through complex payment networks, Wise has its own network of accounts in all the countries it operates in. The way Wise works is actually surprisingly simple. Wise has built its own payment network which is cheaper and faster to operate compared to SWIFT - the system often used by banks to send international transfers.
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