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. :)
Paypal and banks are usually the worst for international transfers as they charge you secretly by giving you a bad exchange rate.
Wise is one of the established players in the market that changed the game by using real time rates and sharing the fees upfront. However, they went public a few years ago and have become more expensive since.
Now there is Atlantic Money that don’t challenge the banks or Paypal but Wise. They offer every transfer for the same price and can save u massively. Heard about them for the first me here at smallbusiness and I am a fan ever since.
Funniest part, they compare themselves against Wise: https://atlantic.money/wise. The difference for large sums is massive.