What is the cheapest FX service USD-EUR: Wise.com

Sending money from the United States to Europe can often come with high fees especially is using classic banks like Citi or Chase. However, there is a solution that provides both low costs and efficient service: Wise.com. This platform has emerged as one of the best options for international money transfers. In this article, we will explore how Wise.com can save you money and the key strategies to keep transaction costs down.

Why Choose Wise.com?

Wise.com, formerly known as TransferWise, has made a name for itself by offering a transparent and low-cost way to send money internationally. One of the biggest advantages of using Wise is that they use the mid-market exchange rate, which is often much better than what banks offer. For those sending money to Europe or vice versa, this can make a significant difference in the total amount received.

A notable feature is the timing of transfers. In most cases, my transfer was deposited in our French bank account by the close of business the next day.

Reducing Transaction Costs

To further minimize costs when using Wise.com, consider the banking options you utilize for sending money. Some U.S. banks do not charge wire fees, which can add to your overall savings. For instance, Charles Schwab is one such bank that offers no fee wire transfers.

Send your first $600 without fees

Through using my referral link below, you can send your first $600 via wise.com without fees.

https://wise.com/invite/dic/timothydanield3

You can see below the value difference between Wise and other provides for a $10,000 transfer to Euros. You can also see that a Wire transfer saves you over $10 versus an ACH transfer.