Finance, money, over7seas, transferwise
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Before I forget: I want to tell you about Wise

Just some rough notes from me. When instead of typing and procrastinating I should be packing to get back to Jason as soon as possible!

With the last couple of years having been so relatively stationary I almost forgot my account that I have with Wise. As I am inching closer to leaving the UK for another longer period of time, I am going through my bank cards and credit cards and stumbled across my card from Wise that expired over a year ago. That shows you how forgotten this account was. I didn’t even notice.

But for the rest of the year I want to test it out more. I want to see if my students and clients will pay me either through Wise or in Etherium (another side project). Why? Well. I have at least 8 regular students and clients whoa re resident in as many countries. Currently they all go through PayPal, but that is expensive for them.

I am using Calendly to schedule my lessons and meetings and it offers only Stripe and Paypal as a payment processing service. This means that my first job will be to check if Stripe lets me link to Wise. I feel that I have read in multiple places that it won’t allow this. Let’s see.

My next project will then probably be to figure out a better payment and booking interface for my students to be able to pay for a package of lessons.

I’ll report back how I get on using Wise to accept payment from my international clients. I wonder if it has an invoicing template / option. I could swear that PayPal has one.

2 minutes later – after browsing Wise the website:

I just found out that through an additional app I can allow clients to pay in instalments over a 6 week period. That’s quite cool.
There is also a cash back app? I need to investigate that. It seems SO spammy, but that’s how I felt when Airbnb started and sent me personal emails wayyy back when… And what is Fruugo? An app that helps businesses find customers? I love deep diving into the connectable apps tabs of SAAS companies. Is Wise a SAAS? This just goes to show you how ignorant I sometimes still am.

Well, from what I can see so far Wise doesn’t seem to offer an invoice option. That’s a shame. I would have liked that. It would make it easy to send an invoice to my clients that acts as invoice AND invitation to sign up to Wise. Wise, are you snoozing on the job?

update 5 minutes later: I found it! It’s under the Manage tab on the right side. It currently sits under Manage and then is the 5th option: Payment Requests is what you are looking for.

I am learning the Wise User Interface layout in real time. So bear with me. It takes time to learn to navigate a new platform (or one you forgot to use for a few years..) and that is ok. There are people who get really flustered because Wise isn’t a traditional account and they get scared that they could lose their money. I think Wise could maybe work a little more on building trust. It certainly was an obstacle for me at the start. One that I overcame when my friend stood in front of me in tears because her traditional bank had charged her an incredibly high fee for transferring her savings from the UK to Spain. A few phone calls later and we managed to stop the transaction (giving LOTS of credit to the banks involved!) and she received her money back into her account.

We then tried Wise for the first time. You wouldn’t believe how happy she was the next day when everything had been resolved and Wise saved her hundreds and hundreds of pound! £££ If she hadn’t used Wise in front of me then I wouldn’t have dared to trust it myself.

It just would have seemed too scary when I very first considered them. Even after seeing her safe transaction I used the transfer option cautiously at first until I eventually became bolder and signed up for a borderless account. Now I hold 3 currencies simultaneously in 3 digital pockets that allow me to not lose money to currency conversions. I can send the money to myself when the exchange rate is very favourably or leave it in my digital, brick-and-mortar free bank.

I wonder how the future of banking will affect Wise. Will they allow me to hold Crypto, too? It’s probably too volatile to be a consideration.

I also just realised that I am only ONE person short to receive a referral bonus of £75. (When 3 people take up my recommendation to sign up with Wise and send money across currencies then I receive a referral gift of £75. I have referred 5 friends so far. This means I am just 1 short.)



Do you want to sign up and see how much money you could save sending money across borders?


For example: To your own account abroad, or perhaps you are a customer and need to send a payment. This service is SO perfect for expats, immigrants sending money back home, digital nomads, remote workers, parents of students abroad.

All you have to do is sign up to Wise using my link: https://wise.com/invite/u/birgitd7 and make a money transfer for £200 or more.

I am already thinking about how to benefit from this referral bonus offer. I am getting lots of ideas: I can combine existing service offers to create one that costs £200 or above. Then invite my clients to use Wise to pay me. Perfect.

I think this is going to be the best way for me to benefit from the referral bonus offer. My students and clients would pay me regardless, but by using this service I get a little extra and they save a percentage compared to using traditional payment services like PayPal, bank transfers or even Stripe, that still applies a currency exchange fee that will be more than that of Wise.

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