Tips to send large transfers with Transferwise

As sending money overseas can be frightening sometimes, Transferwise claims to make it easy as it can get. Please note some things to bear in mind beforehand:

• Know beforehand your limits: As banks can transfer limits per day or per transfer (which can vary depending on the platform they are made on), you need to be aware of such limit to decide whether such transfer is made in person or over alternative means.
• Pre-verify your identity: TransferWise will always ask their customers to verify their identity (customers’ address and photo identification will be checked), but such verification would take approximately two business days. So, if customers need to make a swift transfer, it is always best to have their profiles verified in advance. Besides, and for fraud investigation purposes, it would be required to provide with additional evidence for money origins in case of dealing with large or abnormal transfers.
• Transfer now or wait for the right rate: As in large transfers a slight change in the exchange rate makes a huge difference, Transferwise customers can choose to send their money immediately or at the exchange rate that has been defined by the customer.

Please refer to the following link to send large transfers with Transferwise!