Transferwise is a global leader in global remittance services. They are considered as experts in the field of transferring money and make it convenient for their global customers to send money to anyone around the world at low or no cost. These transfers are fast, safe, reliable and secure. With so many options to choose from, it is easy to get confused on which provider to choose. So in this article, we will provide you with some information on transferwise and other cards like Mastercard and Visa.
The first thing that you have to know is what the transferwise app is. This is an iPhone and iPod app that can be downloaded to your mobile device to make financial transactions at any point of time. Unlike the traditional credit cards and Paypal, this app works just like a debit card but it can be used anywhere the card reader is accepted.
The first option that you can choose is the debit transfer. This will allow you to set up a transfer of your bank account directly into your debit account. With the help of the app, you will be able to manage your existing cash, savings accounts and even your e-currency. All these accounts will be managed in a hassle free manner. You don't need to worry about withdrawing cash from ATMs or going out to a retailer who accepts the card.
Another option that is available is the Mastercard international transfer. This will enable you to transact in the currency of the country that you are resident in. If you think Mastercard is only useful for purchases in the US, think again. You can use this service to pay for bus fares in Asia, book hotel accommodation in Hong Kong or back home, etc. When you have the Mastercard, you have access to ATM's, shops that accept credit cards and currency exchange centers. The best part is that you do not need to carry lots of cash and the option of paying via the internet makes your activities easy.
If you have a debit card like Mastercard, you can use the online mode to make international money transfers. With the help of the online transferwise app for phones, you can have access to this facility even when you are travelling abroad. The main idea behind the application of this app is to make internet payments faster. This is possible because the internet does not require much bandwidth and it is a fact that mobile phone networks are fast. As soon as the transfer is made, the funds will be credited in your account.
The third type of transferwise service is the wire transfer. This type will allow you to make transfers to the account that is being held by the service provider based on the current balance of your debit card. You can use the wire transfer to pay bills and make other small payments online.
There are many other transferwise services that can be used to transfer money. You can select the one which suits your needs best and choose between direct transfer, domestic transfer and international transfer. Direct transfer refers to transfers from your savings account to the debit card. Domestic transfer is made to a bank account that is operated by you.
International transfers include those made to another country through banks. For this, you will have to visit the offices of the financial institutions in the country where you are heading to. For international transfers, you may also choose to use the online transferwise services where in you can add money to the amount that you want transferred. Thus, you will be able to make easy transfers to your preferred account.