Wise outages reported in the last 12 hours

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Wise, formerly known as TransferWise, is a financial technology company that specializes in international money transfers. Founded in 2011, Wise aims to provide a more affordable, transparent, and efficient alternative to traditional banks for sending money across borders. The company’s mission is to make international banking services faster, cheaper, and more accessible to everyone.

Wise operates by using a peer-to-peer system for currency exchange. Instead of transferring money directly across borders, Wise matches transfers with other users sending money in the opposite direction. This approach allows Wise to avoid high bank fees and unfavorable exchange rates typically associated with international transfers. The result is a service that offers lower fees and more competitive exchange rates compared to traditional banks.

One of Wise’s key features is its transparent fee structure. The company clearly displays the cost of each transfer, including any fees and the exact exchange rate used, so customers know exactly how much money will arrive at the destination. Wise also offers a multi-currency account, which allows users to hold and manage money in multiple currencies. This feature is particularly useful for individuals and businesses that operate internationally.

The Wise debit card is another popular feature, enabling users to spend money abroad at the real exchange rate with low fees. This card can be used for online shopping, ATM withdrawals, and in-store purchases in various countries, making it convenient for travelers and expatriates.

You can find additional information on the official website.

Wise outages reported in the last 12 hours

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