Wise
An affordable way to send or receive money internationally. Transferwise can provide you with an ordinary bank account number in several currencies, and alert you when customers make a payment to you.
We use Transferwise ourselves here at Website World. We save about 5-6% on comparitive ways to receiving international funds.
Consider Paypal, with 45 cents fee plus 3.9% of the FX currency received. Then you will be charged 2% approx margin the mid FX rate. Paypal does not charge for withdrawals, but Transferwise charges approx 0.5% . All up, the savings are about 5-6% when using TransferWise in comparison to Paypal for recieving international funds. However, the exact saving will depend on the amount of money incurred.
There is no technical integration with Website World. But Transferwise is very easy to communicate to customers as an ordinary "online banking" payment request.
- Customer pays your Transferwise account.
- You receive an email notifying you of the amount received and order number details as a reference.
- You can then manually mark that transaction as paid in your orders list.
To retrieve your money to your ordinary bank account, you then login to Transferwise to complete the FX exchange at an agreed rate. Then you can choose to withdraw that money, or use it to make payments elsewhere (in other CCY if required)
