Wise, formerly TransferWise, is a UK-based international money transfer and multi-currency account service. Founded in 2011 by Kristo Kaarmann and Taavet Hinrikus and headquartered in London, Wise is publicly listed on the London Stock Exchange (LSE: WISE).
The Wise account lets users hold and convert more than 40 currencies, receive local bank details in multiple countries such as a US routing number, UK sort code, or EUR IBAN, and send international transfers at the mid-market exchange rate plus a transparent, upfront fee shown before sending. A linked Wise debit card can be used for spending and ATM withdrawals abroad in many countries. Wise also offers business accounts with batch payments, invoicing, and accounting integrations, and Wise Platform provides infrastructure to banks and fintechs.
Wise charges a small percentage-based fee per transfer or card payment instead of markups hidden in the exchange rate; the personal account itself is free to open and hold. It is regulated as a money transfer and e-money business in the jurisdictions where it operates, including the FCA in the UK and FinCEN registration in the US. The app is available on iOS, Android, and web, and supports sending money to and receiving money from most countries worldwide.