Banks are still cheap when it comes to large amounts.
Anything over $4K is cheaper and faster with banks like Mercury, which takes just $20 for wires.
TransferWise changes name to Wise
141–150 of 230 posts
Re: TransferWise changes name to Wise
#142I'm very happy with TransferWise' low fees, but their 'borderless' account is unfortunately no substitute for a real account in the native currency in a lot of cases.
I'm not sure whether their fees are really that low. For transfers between your own accounts, for anything over very small amounts, I found that their 0.35% variable fee is pretty large compared to adding the funds to a brokerage account and then doing the conversion there (ie. IB charges 0.002% on currency trades, with a min of $2), and transferring back out into the desired currency.
Could you explain how this works, or point me in the right direction on what to read? I'm interested in not using Transferwise as much if this is better.
Re: TransferWise changes name to Wise
#143Earlier quoted context omitted.
Honest question, what do you do with it multiple times a day? You use it as your regular bank and a debit card or something?
I use it for everything from: - daily spending on goods and services - electronic transfers to ewallets* - any time someone needs to send me money, I use transferwise virtual account details so from their end it seems like a domestic transfer - I even bought a motorcycle using Transferwise to do a local bank transfer. Tried it with my regular (foreign) bank first and it failed, tried it with Transferwise and it worke…
I think how easy it is to use their service, heavily depends on where you are based.
Not all products are available in the markets TW is present in.
Re: TransferWise changes name to Wise
#144Earlier quoted context omitted.
This. I also used N26. There support used to be bad, now it is atroscious. The details of my situation are not important, however I was in contact with Christian Krabus - Head of Customer Care ( https://www.linkedin.com/in/christian-krabus-075a7887/ who it appears no longer works for N26). I would regular have to ask for status updates; email the managing directors and only then would things get progressed. My issue…
are you trying to imply he should continue responding to you after leaving the job?
> are you trying to imply he should continue responding to you after leaving the job?
No, I believe the parent is trying to tell us that they checked the employee's LinkedIn and noticed that the employee had changed jobs, so they arrived at a reasonable assumption: the employee may have stopped responding to their requests because he changed jobs.
Re: TransferWise changes name to Wise
#145Earlier quoted context omitted.
Seems like a weird idea when there is already a finance company called Wise. https://www.wise.us
Yup, I mentioned something similar in my post... https://news.ycombinator.com/item?id=26220276 also the logo, just so bad. I wonder who is behind such an ugly design, seems amateur to the extreme.
The logo looks more like "Wire" at first glance. Really bad.
Re: TransferWise changes name to Wise
#146Earlier quoted context omitted.
> I religiously send a the same (about 5k USD) to my home country every month Good lord, how much money do you people make in the US?
5k per month is 60k per year. A typical developer makes at least 100k per year in the US; but if you are only support yourself then you can easily live on 40k per year outside of SV and a few other high-rent areas. The math checks out. And sending 60% of your salary back home is something that plenty of people do.
Tax? If you tried that in the UK you'd only be left with about £7k after tax...
Re: TransferWise changes name to Wise
#147I love transferwise, depend on it often. I don't get the rebrand, their old name was descriptive, easy to google, and from all perspectives really good. The rebrand won't change me using it, but I really can't see the positive in this.
Prediction: zero negative will come out of the name change or redesign, and three years from now they'll be bigger than ever. I'm long on them and they haven't even IPO'd yet. Can't wait for them, and Stripe.
Seriously, have you ever seen a rebrand negatively affect a product? Rebrands have to be thought about retrospectively: you need to think whether it would make sense to go from the new to the old. Number26 for example rebranded to N26 and in retrospect it was an utterly obvious move.
Wise to Transferwise would make no sense especially if they are positioning themselves as more than a PayPal alternative. So this is a good rebrand.
And the generic name isn't a problem, any more than it was for Square. It's a shame $WISE is taken though.
Re: TransferWise changes name to Wise
#148I love transferwise, depend on it often. I don't get the rebrand, their old name was descriptive, easy to google, and from all perspectives really good. The rebrand won't change me using it, but I really can't see the positive in this.
Has there been leadership change recently? A shiny new top executive just trying to mark their territory in the best way known to humans and canines.
No.
Re: TransferWise changes name to Wise
#149Earlier quoted context omitted.
> I religiously send a the same (about 5k USD) to my home country every month Good lord, how much money do you people make in the US?
You’d be surprised how rich a society can be with a high IQ demographics, low taxes (I.e. barriers), and free enterprise. In Europe, landlocked no-oil Switzerland is a good example of this.
The things you mentioned aren't what make Switzerland a rich society.
In my experience living here, it is the strong social security net (70% of your previous wage if unemployed), high minimum wage (up to 25$/hr in some areas), and general workers rights/protections.
Re: TransferWise changes name to Wise
#150Earlier quoted context omitted.
Completely agree. They are a fantastic service that (as others have suggested they do as well) I use about once a year and recommend to others about twice a year. I have no idea if I’ll remember the name change a year from now, and as anything related to international money transfer is already sketchy, a rebrand is likely to make me wary.
Why would a name change make you more wary?
Because anything unfamiliar (after a year of not using the service) is likely to ring alarm bells.