Want to know how to send money from abroad to which country? Now sending money between countries is so much easier using Wise or formerly known as Transferwise.
I've been living abroad for the past few years, either for work or college. Well, there is definitely a need to send money, whether from a bank account to a foreign bank account or vice versa.
I've tried several ways such as Paypal, Western Union, and also Payoneer. But after meeting Wise, it turned out to be really easy, the money arrived quickly in the account, and the exchange rate was better.
Well, I will explain more fully about how to transfer money or money from abroad and vice versa using Wise and also the advantages over other methods.
What is Wise?
Wise, better known by its old name Transferwise, is a company from England that provides money transfer services between countries.
Currently, Wise has more than 4 million subscribers worldwide.
Wise makes it easy to transact or send money because it can be done through its website directly or applications on IOS and Android smartphones.
how to send money from abroad to any country
The reason why choose Wise to send money from abroad to any country or vice versa?
As I mentioned earlier, I've tried various ways to send money from abroad to any country. Wise this is the best, the reason:
Easy to use because it can be directly from a web browser or just download the Transferwise application on your Smartphone
The process is fast and it reaches the destination bank account right away (less than 30 minutes)
Lower fees (2.5x cheaper than banks and other providers)
Better exchange rates
Can send money from or to 80 countries in the world.
Can use e-wallet to transfer abroad.
Maybe many of you are already familiar with Paypal. Paypal is indeed popular for buying and selling transactions online.
Indeed, paypal is easy to use. You just enter the e-mail address of your paypal account and you can transfer money.
However, the transaction fee is quite high (5.4% + USD 0.3) to withdraw money from a Paypal account is subject to fees and also the exchange rate in my opinion is quite expensive.
Western Union is also more complicated, because the recipient has to come to a place, for example the post office to pick up the money sent.
No need to worry about Wise because this method is safe and reliable. Many have used Transferwise because it is fast, easy, and low-cost.
You can send money from these countries or currencies:
Euro
British Pound Sterling (GBP)
Indian Rupee (INR)
Singapore Dollar (SGD)
US Dollar (USD)
Australian Dollar (AUD)
Hong Kong Dollar (HKD)
New Zealand Dollar (NZD)
Japanese Yen (JPY)
Malaysian Ringgit (MYR)
United Arab Emirates Dirham (AED)
And much more, just check other currencies and exchange rates on Wise directly!
The average large bank can receive funds from abroad. Just make sure you have details such as the bank's SWIFT code, OK!
How to send money from abroad to any country or vice versa with Wise
Okay, in this section I will explain how to send money from abroad to any country using Wise or formerly known as Transferwise:
1. Enter the Wise site via this link or you can download the Wise application on the Google Play Store or Apple Store.
2. Enter the amount of money you want to transfer. Since I am in Singapore, I will give an example of wanting to transfer money from Singapore to Indonesia in the amount of SGD 1,000.
Wise will tell you directly the cost and also how much the exchange rate will be. Well, you can see that the fee is only SGD 5, and also what the exchange rate or amount will be received by the recipient.
how to send money from abroad to indonesia with transferwise
3. Fill in the form regarding the beneficiary's bank details: beneficiary's name, beneficiary's bank, and also the beneficiary's bank account number.
Enter destination account data
4. Fill in your personal data: country, name, date of birth, address, city, postal code, and telephone number.
fill in personal data
5. Check or review the transfer amount information and also the destination bank account.
back review
6. Because you are a new user, you have to verify yourself first. Upload your ID, you should just use a passport. Verification takes 2-3 days.
verification
7. Choose the option for payment for transfers, if in Singapore you can use PayNow, Debit Cards, and also Credit Cards.
send money from abroad to indonesia
So, all you have to do is wait for the verification process to be approved and the money will enter the recipient's bank account.
Conclusion
So, now if you want to send money or transfer money from Singapore to Indonesia, send money from Malaysia to Indonesia, or even send money from America to Indonesia, or vice versa (send money from Indonesia to abroad), you can use Wise instead.
Hey, I use Wise to send money abroad. Really easy and a lot cheaper than the bank! Give it a try with a fee-free transfer of up to 2,500 MYR.