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 the transfer service Faire uses for there 200K+ brand accounts they pay out regularly. We use them for a number of accounts daily and no complaints. It’s very similar to PayPal in that you get paid into your wise account and then have to initiate a transfer to your bank account, which is usually only a few hours’ process. Fees wise, they are one of the cheapest around.