How To Receive Money From Wise? In today’s globalized world, receiving money from abroad is common. However, traditional international transfers are complex, time-consuming, and expensive.
For this reason, Wise offers a convenient and cost-effective solution for receiving money from overseas.
To receive money from Wise, Sign up for a Wise Account, Choose Your Receiving Currency, Get Your Account Details, Share Your Details with the Sender, and Track Your Transfer.
The purpose of this article is to provide you with a detailed explanation of How to Receive Money From Wise and more things related to it. So, make sure to read the full article.
Suggested: How To Send Money With Wise.
Setting Up a Wise Account
Creating a Wise account is the first step to receiving money. Here are the steps you need to take to create an account:
Step 1. Visit the Wise website or download the Wise app.
Step 2. Click on ‘Register’ in the top right corner of the website or the app.
Step 3. Set a password, enter an e-mail address, and fill in your details as required.
Step 4. Click the email link Wise sent to verify your email address.
Step 5. Complete the setup by verifying your identity. You can do this by providing government-issued identification and proof of address.
Read also: Wise Sign-Up Bonus.
How To Receive Money From Wise
You can receive money directly from Wise in the following ways:
Step 1. Sign up for a Wise Account.
Step 2. Choose Your Receiving Currency.
Step 3. Get Your Account Details.
Step 4. Share Your Details with the Sender.
Step 5: Track Your Transfer.
Read also: InstaReM vs Wise Money Transfer.
How To Receive Money From Wise With email
Recently, Wise added a convenient feature that allows you to receive money directly via email. It simplifies and makes the process more private since you no longer have to share your bank account details.
Here are some steps on How To Receive Money From Wise using your email address:
Step 1. Open the Wise app or website, go to “Account,” select “Receiving by email or phone,” and turn it on.
Step 2. Select your visibility method: Email, phone, or both.
Step 3. Share your email address displayed in Wise account details with the Sender.
Step 4. Sender sends Wise transfer via “Email” with your email and amount.
Step 5. Receive email from Wise and verify bank details if needed.
Step 6. Wise deposits money & notifies you after transfer confirmation and bank details verification (if needed).
Read also: Review Of Wise Money Transfer.
How To Receive Money From Wise To Bank Account
Here are the steps on How To Receive Money From Wise To Bank Account:
Step 1. Log in to your Wise account and go to the ‘Balances’ section.
Step 2. Select the currency balance that you want to withdraw from.
Step 3. Click on ‘Send money.’
Step 4. Confirm the transaction with your bank account details.
Step 5. You will receive your money within 1-2 business days.
Read also: Wise vs XE Money Transfer.
How To Receive Money From Overseas With Wise
With Wise, you can conveniently and cost-effectively receive money from overseas. To learn how to do it, follow these steps:
Step 1. Sign up on Wise.com or the app, provide details, and verify your identity.
Step 2. Click “Receive” and choose the desired currency.
Step 3. Get account details in Wise (additional requirements may apply).
Step 4. Share Wise details via copy, PDF, or prefill link with the Sender, making sure they know the amount and currency.
Step 5. Track Wise transfer progress & receive notifications in-app or website.
Read also: The Best Way Send Money Internationally.
How Long Does It Take To Receive Money From Wise
The speed of transactions is one of the Wise key features. Transfers can happen almost instantly or take up to two working days, depending on the currencies involved and the payment method used by the Sender.
Also know about The Process Of Sending Money Wire Transfer.
How Much Does It Charge To Receive Money From Wise
Receiving money on Wise is free. Payments can be received using your account details without fees, except for US dollar domestic or Swift wire transactions, which cost 4.14 USD per transaction, and Canadian dollar Swift payments, which cost 10 CAD per transaction.
Also read: Review Of XE Money Transfer.
Benefits Of Receiving Money From Wise
- Low transfer fees: Wise is transparent about fees. They charge a small, upfront fee and use the real exchange rate, which makes them up to 8 times cheaper compared to traditional banks.
- Speed of transactions: Wise transfers are fast, often arriving before the expected delivery time.
- Ease of use: The Wise platform is user-friendly, making it easy for anyone to receive money from overseas.
- Security measures: Wise, regulated by the Financial Conduct Authority, offers secure transfers with two-factor authentication.
Suggested: Tax-Free Money Transfer.
Conclusion
With Wise, receiving money from anywhere in the world is easy, affordable, and secure. Their user-friendly platform simplifies managing international money transfers.
By following the steps outlined in this guide, you can experience the convenience and efficiency of receiving money from Wise.
We hope that in this article you have got a lot of information about How To Receive Money From Wise.
Note: You must always check the Wise official website and Help resources for the most up-to-date information and terms and conditions.
Suggested: Top Best Instant Money Transfer Apps.
FAQs
Can Wise send directly to a bank account?
Yes, Wise can send money directly to a bank account in over 70 countries around the world.
Can someone send me money through Wise?
Yes, someone can send you money through Wise. In fact, Wise is a popular choice for receiving money internationally.
What is the maximum amount you can transfer with Wise?
You can send up to £5 million with Wise in a single transfer. However, if you want to send more than £1 million, you need to have the money in your Wise account first.
It means you have to convert your money to GBP and add it to your Wise account before sending it out.
Can I use Wise without verification?
You can use Wise for some features without verification, but you will have limited access. To access all of Wise’s features, you will need to verify your identity.
