Hi! First time poster here. I own a smallbusiness and offer commissions. My clients can pay via bank transfer or PayPal. One client has now stated that they wish to pay with the money transfer service Wise. I’ve never even heard of that service up to now and am wondering if this means anything specific for this transaction? Can they simply transfer? Does this come with any problems for my, the receivers, side? Thanks for your advise. :)
Wise is used to convert currencies, when travelling.
If you can process Visa cards, that is probably your safest option, as Wise accounts come with a Visa card (physical or digital).
Your client can also do a standard bank transfer. They might just need your bank’s IBAN which should be on the bank’s FAQ page or you can call your bank for it. Your account info to deposit will be the same. This will probably be your cheapest option (for you). It costs them a small fee to transfer.
You can also set up your own Wise account for your client to transfer into. Before you get your money you may need to verify your identity. You would transfer to yourself as the client would above.